Bybit to Lay Off 30% of Staff Amid Crypto Winter

Dubai-based Bybit is a relatively new crypto exchange, founded in 2018, but has managed to accumulate a fair amount of trading, particularly with regard to derivatives. The exchange ranks ninth out of 64 derivates exchanges for open interest, meaning options or futures that have not been settled, and 15th in terms of normalized trade volume in the spot market, according to data for the last 24 hours from information platform CoinGecko.