Company Profile
| Parent Company | Bybit Fintech Limited |
|---|---|
| Ownership | Private (no major shareholders publicly identified) |
| Headquarters | Dubai, United Arab Emirates |
| Founded | 2018 |
| Founders | Ben Zhou |
| CEO / Leadership | Ben Zhou (Co-Founder & CEO) |
| Employees | ~2,400-2,500 (mid-2025); LinkedIn: 1,001-5,000 |
Funding and Valuation
| Funding | No major external VC funding rounds identified for Bybit itself; operates a $100M Bybit Fund for investments; unverified claims of $50M seed at $3B valuation |
|---|---|
| Revenue / Valuation | Est. annual revenue $536M (Growjo); unverified valuation claims ~$2-3B |
Licensing and Regulation
MiCAR license (Bybit EU GmbH, ... Full VASP license (UAE SCA, 20... MVP license (Dubai VARA, 2023) VASP registration (Georgia, 20... others in Kazakhstan, Netherla...
MiCAR license (Bybit EU GmbH, Austria FMA, 29 EEA countries, 2025) / Full VASP license (UAE SCA, 2025) / VASP registration (Georgia, 2024) / others in Kazakhstan, Netherlands, India FIU
Regulatory History
€2.25M fine (Netherlands DNB, Oct 2024, unlicensed services)
Reprimand & ops halt (Malaysia SC, Dec 2024)
Statement of allegations (Canada OSC, 2021)
FTX bankruptcy lawsuit settled for $228M (2024)
various warnings
Security Track Record
- $1.4-1.5B Ethereum stolen (Feb 21, 2025, Lazarus Group/N. Korea via Safe Wallet exploit)
- reserves replenished in 72 hrs
- data breach via ransomware/phishing (Feb 2025, PII & wallet data exposed)
| Proof of Reserves | Active; monthly reports verified by Hacken; ratios ≥100% (e.g., USDT 104%, BTC 109% as of Feb 2026); 1:1 backing confirmed via on-chain proofs |
|---|
Sister Brands
None identifiedassociated with BitDAO (BIT token, restructured 2023)
Key Events
2018
Founded & launched
2019
10% global BTC vol
2020
$4B daily vol
2021
$70B daily vol, esports sponsorships
2022
Dubai HQ, Red Bull F1 ($150M deal), PoR transparency
2023
20M users, Mastercard card
2024
40M users, Web3 launch
2025
70M users, MiCAR/UAE licenses, major hack
2026
31st PoR report