Crypto Exchanges Must Adapt or Die, Warns Bybit CEO

Bybit's CEO Ben Zhou says that the era of pure crypto exchanges is coming to an end. He believes that customers want more than just cryptocurrency trading on their exchange, they also want stocks, gold, forex, and derivatives in one place.

Zhou points out that Bybit already offers some of these products, including derivatives tied to stocks, gold, and indexes, as well as forex.

Other crypto exchanges are struggling with the shift in demand. BitMEX ended trading after 11 years, while CoinEx announced a wind-down due to falling volumes and rising compliance costs.

Bybit's repositioning is part of its 'Make Your Move' campaign, which aims to position the exchange as a broader financial platform.