Crypto exchange Bybit has announced the termination of four more services, continuing a broader restructuring strategy that began with the recent shutdown of its NFT marketplace.
The platform revealed it will discontinue its lending, leveraged token, dual asset mining, and Bybit Web3 Custody services. The decision is part of a strategic realignment to optimize operations and focus on core offerings. The affected services will be phased out gradually over the coming weeks, with users advised to withdraw assets or settle positions before the respective cutoff dates.
Bybit’s NFT marketplace, which was closed earlier in 2024, marked the beginning of the exchange’s shift away from underperforming or non-core business segments. In a statement, the company emphasized that the latest move reflects its commitment to long-term sustainability and enhancing its user experience through a more streamlined product suite.
Despite the cutbacks, Bybit remains one of the top centralized exchanges by trading volume and continues to expand in other areas, including derivatives trading and international regulatory compliance.
Users have been notified of the changes through direct communication channels, with the exchange assuring a smooth transition process and ongoing support. The company has not ruled out the possibility of revisiting any of the discontinued services in the future, should market conditions and demand warrant it.
