Bybit has just set up a $100 million fund aimed at supporting institutional clients “during a difficult time for the industry.”
According to the announcement, the initiative will focus on market makers and specialized account managers using the platform.
Ben Zhou, CEO and co-founder of the platform, has commented on the initiative:
“We are all participants in the industry. Everyone should do their best to support her. This is one way we can contribute.”
Bybit has previously disclosed the volumes of user assets in partnership with Nansen.
Binance and OKX independently announced earlier this month the launch of “recovery funds” to support companies affected by the collapse of FTX.