Bybit exchange launches $100 million institutional support fund

The last two weeks have seen a complete shakeup in the cryptocurrency industry as a result of the FTX crisis.

Since they were presented with financial and/or operational difficulties, both traders and organizations have suffered greatly.

Bybit, a well-known cryptocurrency exchange, said it recognizes and empathizes with these challenges.

Bybits claims to have worked hard to offer products, opportunities, and next-level dependability as part of its goal of becoming the world’s “Crypto Ark.”

Bybit recently announced the establishment of its $100 million support fund, which will be used to help institutional traders weather the storm. This announcement was made with great pride.

Here are more specifics:

• Market makers and HFT institutions on Bybit or any other exchanges are eligible.
• Quota per client: Subject to individual requests and approval (maximum $10M per client).
• Utilization of funds: spot as well as USDT Perpetual trading on Bybit.
• Interest rate: 0% P.A.