Bybit CEO Says Era of Pure Crypto Exchanges Is Ending

The significance lies less in Bybit's specific pivot than in what it signals about competitive pressure across crypto trading venues: pure crypto order flow is no longer seen as a sufficient business on its own. The move puts Bybit in the same lane as platforms chasing multi-asset offerings, which matters for rivals whose value proposition rests on crypto-native focus. Whether this becomes an industry norm or remains a few large players' strategy is the open question, and how regulators treat crypto venues offering traditional asset derivatives sits at the center of it.