PANews reported on April 17 that according to Cryptoslate, crypto exchange Bybit announced in a notice issued on April 16 that it will cease a series of Web3 products and services by the end of May. The exchange stated that this decision is part of a shift in its operational focus, as Bybit is entering a new phase of growth and innovation.
The services to be discontinued include Bybit's Cloud Wallet and Keyless Wallet, which will no longer be available after May 31, 2025. Users are urged to transfer all assets (including tokens, Non-Fungible Tokens, and inscription assets) from these wallets to their Bybit funding account or seed phrase wallet before the deadline. Failure to complete the transfer by the deadline may result in access delays and require additional identity verification. Additionally, Bybit will close several Web3 trading functions by the end of May, including its DEX Pro platform, Swap & Bridge services, and broader Non-Fungible Token marketplace. In addition to these changes, Bybit has already stopped supporting several other services on April 8, including Inscriptions, Non-Fungible Token Pro, ApeX, Buy Crypto, and its Initial DEX Offering (ID0) platform. The company's Web3 points program will also cease on April 28.
