Bybit CEO says pure crypto exchanges are fading

Bybit CEO Ben Zhou said the market for “pure crypto exchanges” is shrinking as users increasingly want access to stocks, gold, forex, indices, payments, and savings tools in one place. Zhou’s remarks came as Bybit launched its “Make Your Move” campaign, which promotes the company as a broader financial platform rather than only a crypto venue. The exchange already offers derivatives linked to stocks, gold, and indexes, along with forex products. The comments also come during a period of consolidation in the sector. BitMEX ended trading after 11 years, CoinEx said it would wind down operations, and BitMart has been exploring restructuring after previously announcing plans to close. Coinbase is also expanding beyond crypto through its own “Everything Exchange” strategy.