Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Bybit to end multiple Web3 services in strategic pivot

Share This Post

Crypto exchange Bybit announced that it will discontinue a wide range of its Wweb3 products and services by the end of May, according to an April 16 notice.

The exchange said the decision is part of a shift in its operational focus as it enters a new phase of growth and innovation.

Discontinued services

Among the services being phased out are Bybit’s Cloud Wallet and Keyless Wallet, both of which will become unavailable after May 31, 2025.

Users have been urged to transfer all assets, including tokens, NFTs, and inscription assets, from these wallets to either their Bybit Funding Account or Seed Phrase Wallet before the deadline. Failure to do so may result in delayed access and require additional identity verification.

Several Web3 trading features will also be shut down at the end of May, including Bybit’s DEX Pro platform, Swap & Bridge service, and the broader NFT Marketplace will be discontinued.

Marketplace users who fail to withdraw NFTs in time may permanently lose access to their assets, as the platform will be taken offline and remaining assets will no longer be retrievable.

In addition to these changes, Bybit has already ended support for several other offerings, including Inscriptions, NFT Pro, ApeX, Buy Crypto, and its Initial DEX Offering (IDO) platform as of April 8.

The company’s Web3 Points program will also be discontinued on April 28.

Streamlining its focus

Despite the scale of the shutdown, some services remain unaffected. Users will still have access to the Airdrop Arcade, staking products, and decentralized applications (DApps). Seed Phrase Wallets also remain fully operational.

Bybit framed the decision as a proactive move to streamline its Web3 offerings and concentrate on delivering a more efficient and user-centric experience. The company said that discontinuing multiple services would allow it to refocus resources and support long-term development within the onchain ecosystem.

For users of the Keyless Wallet, a private key export feature is expected to launch soon, enabling continued access to wallets through third-party platforms. Bybit reiterated that it does not store users’ private keys, and once exported, the Keyless Wallet will be permanently deleted.

The company encouraged all users to begin asset transfers immediately and ensure their wallets contain sufficient gas tokens to complete transactions.

The post Bybit to end multiple Web3 services in strategic pivot appeared first on CryptoSlate.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Coinbase Quietly Holds 2.7  Million Bitcoin Under Management, Worth About $261 Billion

Coinbase quietly guards a digital war chest of 27 million bitcoin, with Wall Street giants, tech titans, and mining firms all locking their crypto fortunes behind its walls Digital Fort Knox Onchain

Cup-And-Handle Pattern Signals Altseason Ready For Launch – Analyst

Prominent crypto analyst Gert Van Lagen has shared a positive market prediction hinting that the altseason may soon begin Based on a fully formed bullish pattern, the Dutch market expert postulates

Arizona State Governor Vetoes Bitcoin Reserve Bill – Details

Arizona State Governor Katie Hobbs has vetoed a legislative bill that would have allowed the creation of a Bitcoin reserve The Grand Canyon state joins a growing list of other US states where

Why SUBBD Token ($SUBBD) Is Gaining Ground as Crypto Takes Off in Central Asia

Central Asia is quickly becoming one of the most interesting regions for crypto adoption Kyrgyzstan has partnered with Binance to roll out crypto payments across the country, letting people pay with

Latam Insights: Strategy Rises in Brazil; El Salvador Continues to Buy Bitcoin

Welcome to Latam Insights, a compilation of the most relevant crypto and economic news from Latin America over the past week In this week’s edition, Oranje rises as Latam’s Strategy’s copycat,

Could a $1000 Investment in Mutuum Finance (MUTM) Turn Into $100,000 Like Dogecoin (DOGE) in 2021?

The post Could a $1000 Investment in Mutuum Finance (MUTM) Turn Into $100,000 Like Dogecoin (DOGE) in 2021 appeared first on Coinpedia Fintech News Dogecoin (DOGE) created a buzz in 2021 by