PANews reported on April 17 that according to Cryptoslate, the crypto exchange Bybit announced in a notice released on April 16 that it would stop a series of its Web3 products and services by the end of May. The exchange said that this decision is part of its shift in operational focus as Bybit is entering a new stage of growth and innovation.
The services that will be discontinued include Bybit's Cloud Wallet and Keyless Wallet, both of which will be unavailable after May 31, 2025. Users are urged to transfer all assets in these wallets, including tokens, NFTs, and inscription assets, to their Bybit funding accounts or seed phrase wallets before the deadline. Failure to complete the transfer by the deadline may result in access delays and require additional identity verification. In addition, Bybit will shut down several Web3 trading features at the end of May, including its DEX Pro platform, Swap & Bridge service, and the broader NFT marketplace. In addition to these changes, Bybit has also stopped support for several other services, including Inscriptions, NFT Pro, ApeX, Buy Crypto, and its Initial DEX Issuance (ID0) platform on April 8. The company's Web3 Points program will also be discontinued on April 28.
