Bybit Launches Gold Exclusive Trading Zone With $800,000 Prize Pool
The campaign follows a record-breaking surge in gold prices and represents Bybit's latest move to bridge traditional financial assets with digital innovation. From now through June 10, 2025, Bybit users can now trade traditional gold pairs such as XAU/AUT+, XAU/EUR+, XAU/JPY+, and XAU/USD+ with USDT via Bybit Gold & FX. Additional options include trading XAUT on Spot or PAXG/XAUT on Derivatives. Those interested in yield opportunities can subscribe to XAUT Flexible Savings or invest in XAUT Dual Assets for more sophisticated strategies.
Participants who complete gold trading tasks will be eligible for a range of exclusive rewards, including luxury gold rings, gold coins, and generous USDT airdrops. Each completed task earns users a lucky draw ticket, increasing their chances of winning as their trading activity grows.
'This launch is a powerful step forward in our mission to integrate the best of traditional finance with the speed and accessibility of crypto,' said Shunyet Jan, Head of Derivatives Business and Institutional Sales at Bybit. 'Bybit's Gold Exclusive Trading Zone gives users a seamless way to engage with gold, earn rewards, and diversify their portfolios in one unified platform.'
The Gold Exclusive Trading Zone is open to eligible users who complete Identity Verification Level 1 and reside in supported jurisdictions. All prizes, including physical items, will be distributed in the equivalent USDT value through the Bybit Rewards Hub.
Full campaign details and terms can be found on Bybit's official campaign page .
About Bybit
Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com .
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
For updates, please follow: Bybit's Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
View original content to download multimedia:https://www.prnewswire.com/news-releases/bybit-launches-gold-exclusive-trading-zone-with-800-000-prize-pool-302448429.html
SOURCE Bybit
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malaysia Sun
20 hours ago
- Malaysia Sun
Trump unwilling to criticize China even after being largest Russian oil buyers, targets India unfairly: GTRI report
New Delhi [India], August 5 (ANI): US President Donald Trump has been unfairly targeting India over Russian oil imports, while choosing not to criticize China, according to a recent report by the Global Trade Research Initiative (GTRI). The report suggested that this selective approach may be driven by geopolitical calculations. As per the data from the report, China is the largest buyer of Russian oil. In 2024, China imported USD 62.6 billion worth of Russian oil, compared to India's USD 52.7 billion. Despite this, Trump has focused his criticism on India, ignoring China's bigger role. GTRI stated, 'Trump appears unwilling to criticize China, perhaps because of geopolitical calculations, and instead targets India unfairly'. The report also rejects Trump's recent claim posted on Truth Social, where he alleged that India is 'buying massive amounts of Russian oil and selling it on the open market for big profits.' GTRI clarified that this statement is factually incorrect and misleading. The think tank explained that India does not export crude oil, Russian or otherwise. India is a net importer of crude oil, and its total crude oil exports stand at zero. What India does export are refined petroleum products, including diesel and jet fuel, some of which are processed from Russian crude. This is standard practice among energy-importing countries, the report said. GTRI further stated that India's oil refineries, both public and private, operate independently in deciding where to source crude oil from. These companies do not need government permission to buy oil from Russia or any other country. Their decisions are based on commercial considerations, including price, supply reliability, and rules in export destinations. The report noted that if Indian refiners find that importing Russian crude involves risks, such as secondary sanctions or restricted access to global markets, they may reduce or stop such imports voluntarily. For example, India exported diesel and aviation turbine fuel (ATF) to the European Union in FY2025, but these exports will now stop due to the EU's ban on products refined from Russian crude. In such cases, refiners will shift away from Russian oil without needing a government order. This trend is already visible. In May 2025, India's imports from Russia declined by 9.8 per cent, amounting to USD 9.2 billion, compared to imports in May 2024. The GTRI report concluded that India is being unfairly targeted, while China's larger role goes unquestioned, possibly due to broader geopolitical interests. (ANI)
New Straits Times
2 days ago
- New Straits Times
Treasury yields hit 3-month low in aftermath of jobs report, Fed resignation
SINGAPORE: US Treasury yields slipped to their lowest in three months on Monday on expectations the Federal Reserve would cut interest rates as soon as September after a weak jobs report, and as investors weighed the surprise resignation of a Fed governor. US President Donald Trump fired a top Labor Department official on Friday after the employment market data showed weak jobs growth, while the departure of Fed Governor Adriana Kugler offered Trump the chance to reshape the Fed. US two-year yields, which are tied to the Fed's monetary policy, hit 3.659 per cent in early trading on Monday, the lowest since May 1. Yields dropped 24 basis points (bps) on Friday, their largest daily fall in a year. The benchmark 10-year yield was steady at 4.245 per cent, hovering close to Friday's five-week low. Data on Friday showed that US employment growth was weaker than expected in July while the nonfarm payrolls count for the previous two months was revised down by 258,000 jobs, stoking investor concern about the integrity of economic data and the Fed's ability to read the true state of the economy. Investors responded by increasing the odds of the Fed resuming interest rate cuts from its next meeting in September. Traders are pricing in an 82.5 per cent chance of a rate cut now, compared to 61 per cent a week earlier, CME FedWatch's tool showed. "With two dissenters to the Fed hold decision at the recent Fed meeting, the pressure intensifies for the Fed to consider a more dovish monetary policy," said Harun Thilak, head of global capital markets at Validus Risk Management. Fed Governor Christopher Waller and Fed Vice Chair for Supervision Michelle Bowman were two dissenting governors to last week's decision by the Federal Reserve Open Committee to keep rates unchanged in the 4.25 per cent-4.50 per cent target range. They said on Friday they did so largely due to rising concerns about the job market, in statements made public just ahead of the release of hiring data that bolstered their position. Mansoor Mohi-uddin, chief macro strategist at Bank of Singapore, expects the Fed to wait for more data, noting that inflation was rising while weak payrolls growth could be due to both lower demand for and supply of labour. "But the risks of earlier rate cuts are rising, weakening the USD while keeping Treasury yields volatile," he said. Kugler did not attend last week's rate-setting meeting and will leave the central bank on August 8 to return to Georgetown University as a professor. Trump will select a governor to replace Kugler for the remainder of her term, which was scheduled to end on January 31, 2026. The greenback recovered some of its losses against the Japanese currency on Monday, last trading 0.26 per cent higher at 147.78 yen. The euro fell 0.14 per cent to US$1.1569 . Against a basket of currencies, the dollar edged up 0.15 per cent to 98.813, after sliding more than 1 per cent on Friday.
BusinessToday
5 days ago
- BusinessToday
MYR Under Pressure But Tariff Deal Offers Glimmer Of Hope
The Malaysian Ringgit (MYR) has been on the back foot, trading between 4.23 and 4.27 against the US Dollar (USD) as the Dollar Index (DXY) surged past 100.0 for the first time since May, signaling a renewed strength in the greenback. This comes amidst a complex interplay of global trade dynamics and shifting US economic data. Initial market optimism stemming from a recent US-EU trade deal proved short-lived. Investors quickly recalibrated their expectations, concluding that broad-based tariffs would continue to exert pressure on global trade, prompting a flight to the safety of the US Dollar and pushing the DXY higher. Concerns over the US employment landscape were briefly sparked by weaker-than-expected Job Openings and Labor Turnover Survey (JOLTS) data for June, which showed a decline to 7.43 million job openings against a forecast of 7.55 million. However, these fears were largely offset by robust July ADP private payroll figures, which surprisingly rose by 104,000 against a forecast of 77,000, and a stronger-than-expected US GDP growth of 3.0% in the second quarter of 2025. Adding to the dollar's resilience, the Federal Reserve (Fed) maintained a hawkish stance, firmly resisting political pressure for immediate interest rate cuts. Looking ahead, the macro calendar for the coming week is relatively light. Market attention remains firmly fixed on tonight's crucial US labor report. Consensus forecasts anticipate non-farm payrolls to come in at 104,000 and the unemployment rate at 4.2%. Kenanga Research noted that a potential silver lining for the Ringgit emerged from recent trade developments, with Malaysia successfully securing a reduced tariff rate of 19.0% from the previous 25.0%. This positive outcome is expected to bolster Malaysian equities and attract modest foreign inflows, providing some much-needed support for the Ringgit. Following the hawkish Federal Open Market Committee (FOMC) meeting, markets are now pricing in just a single rate cut this year. A weaker-than-expected US labor print, however, could trigger a 'dovish USD repricing' and potentially lift risk assets. The easing of tariff uncertainties is also expected to support Malaysia's growth outlook, helping to anchor the Ringgit near 4.25/USD in the week ahead. Technically, the USD/MYR pair is anticipated to hover near its 5-day Exponential Moving Average (EMA) of 4.26. With the pair approaching overbought territory, a short-term correction is plausible, with immediate support identified at 4.25. Related
