TechFlow news — Ben Zhou, co-founder and CEO of cryptocurrency exchange Bybit, announced internally that due to global economic conditions, both the stock market and digital currencies—along with the broader crypto industry—have been impacted. Ben Zhou stated that Bybit’s growth metrics and revenue have not increased proportionally, indicating lower operational efficiency and suboptimal resource utilization compared to before. As a result, certain functions and positions within Bybit will be evaluated for consolidation or optimization. Affected team members will receive financial severance packages and access to employee support counseling services.
According to an insider, following a period of rapid expansion, Bybit now has more than 2,500 employees. However, internal organizational structure has become disorganized, and coupled with the industry downturn, relevant business units have been operating at a loss, prompting this round of layoffs and restructuring. Regarding online rumors of a 50% reduction in the Options division, the source noted that specific layoff ratios and lists have not yet been officially released, but conservative estimates suggest the overall layoff rate could reach 20%–30%.
