Bybit exchange Bybit suspends dollar bank transfers
Defi and Exchanges

Bybit exchange Bybit suspends dollar bank transfers

A victim of the problems experienced by Silvergate Bank, crypto exchange Bybit has announced that it has suspended dollar deposits via wire transfer, and will also suspend dollar withdrawals on March 10.

This is a blow to some crypto exchanges whose customers will no longer be able to withdraw their funds or deposit funds to buy Bitcoin and cryptocurrencies.

We have temporarily suspended USD deposits via bank transfer (including SWIFT) due to service interruptions from our endpoint processing partner until further notice.

Withdrawals via bank transfer (including SWIFT) will also be suspended on March 10, 2023 at 00:00 (midnight) UTC due to the same endpoint processing partner. If you wish to make withdrawals via these methods, please do so before March 10, 2023, 00:00 (midnight) UTC,” Bybit states in its release.

A crypto sector that is under increasing pressure from regulators who seem to want to complicate the purchase of crypto-currencies for the general public. Regulators who believe that the crypto market presents too great a risk for individuals, following in particular the bankruptcy in 2022 of several major crypto trading and staking players (FTX, Celsius Network, BlockFi, Genesis, or Voyager Digital).

In December, the Singapore-based platform made a second wave of layoffs to face the crypto winter. Bybit is among the largest creditors of the bankrupt crypto lender Genesis.

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Laeti Marison, also known as SatoshiBelle, is a multifaceted professional with a passion for community management, content creation, and digital marketing. With a diverse background in various roles, Laeti has consistently demonstrated her expertise and dedication in the field. Recognizing her potential, Laeti then took on the responsibilities of a Project and Community Manager at Magna Numeris and Cartam from November 2018 to March 2021. In this role, she showcased her ability to successfully lead projects and foster strong relationships within the community. Currently, Laeti serves as an SEO content writer, Digital Marketing Manager, and co-founder at magazine, starting from February 2022 till now. Through her expertise in digital marketing and her passion for the crypto industry, she has contributed to the success of the magazine, ensuring its content remains relevant, engaging, and informative.

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