Bybit has announced that it aims to increase transparency and fairness in the industry by creating a new framework for cryptocurrency listings and delistings.
The exchange will now require projects to disclose important dates such as protocol upgrades, token burns, and frozen maturities. In addition, Bybit will introduce clear delisting standards covering performance metrics, compliance failures, and fraudulent activity.
As Bybit continues to consolidate its position in the market, the exchange has surpassed a 20% share in the spot market, maintaining its title as the second largest cryptocurrency exchange globally. In 2024 alone, Bybit listed 151 new tokens on the spot market.
Bybit Chief Operating Officer Helen Liu said the following on the matter:
“The industry will only be able to compare itself to traditional finance if we build a healthy and sustainable ecosystem together. Our goal is to create a marketplace where the transparency, decentralization, and open nature of blockchain empower users to make informed decisions. By implementing rigorous listing criteria and clear delisting protocols, we are taking an important step to protect our users and promote sustainable growth in the blockchain industry.”
Bybit will establish a system for continuous monitoring of listed projects to ensure they continue to meet listing criteria and disclosure obligations.
The company will actively seek feedback from its user community to inform listing decisions and increase transparency.
*This is not investment advice.