ByBit Releases a Fund Aimed at Institutional Clients

Cryptocurrency exchange ByBit has established a fund specifically to support its large clients.

According to the press release, the fund, whose capital amounts to $100 million, has been created specifically to support institutional investors.

Up to $10 million will be able to receive from the ByBit administration managers involved in working with clients, as well as market makers of the exchange.

According to CoinMarketCap, ByBit is the 35th largest cryptocurrency exchange in terms of trading volume. The platform has this way joined Binance, which has previously also announced the establishment of a $1 billion fund to support troubled projects.

This decision is made by crypto companies against the backdrop of the bankruptcy of FTX.