On April 17, according to information from Cryptoslate, the Bybit cryptocurrency exchange announced that it will stop a series of Web3 products and services by the end of May. This decision is part of a strategy to shift the focus of operations as Bybit enters a new stage of development and innovation. The services to be suspended include Bybit Cloud Wallet and Non-Custodial Wallet, both of which will no longer be available after May 31, 2025. Users are requested to transfer all assets, including Tokens, Non-Fungible Tokens, and inscriptions, to their Bybit fund account or seed phrase wallet before the deadline. Otherwise, there may be delays in access and additional identity verification may be required.
Additionally, Bybit will close several Web3 trading features by the end of May, including the DEX Pro platform, Exchange & Bridge service, and the extensive Non-Fungible Token marketplace. Along with these changes, Bybit has also stopped supporting other services such as Inscriptions, Non-Fungible Token Pro, ApeX, Cryptocurrency Purchase, and the First DEX Issuance Platform (ID0) on April 8. The company's Web3 Points program will also end on April 28.
These changes emphasize Bybit's strategic shift, focusing on long-term innovation and growth. Meanwhile, users need to quickly adapt and take the necessary steps to protect their assets.
