Bybit Restores Assets and Confidence Through Transparent Recovery Process
DUBAI, United Arab Emirates, Feb. 28, 2025 (GLOBE NEWSWIRE) -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, has announced significant progress in restoring assets and rebuilding trust following a recent security incident. Demonstrating its commitment to transparency and resilience, Bybit has swiftly implemented recovery measures and enhanced security protocols to protect its global user community.
Key Recovery Milestones
AUM Recovery: Bybit has successfully restored 77% of its Assets Under Management (AUM) to pre-incident levels, underscoring its robust recovery strategy and sustained client confidence.
Enhanced Spot Liquidity: The platform now offers superior spot liquidity across the top 180 trading pairs, surpassing industry benchmarks and reflecting substantial improvements from pre-incident conditions.
Contract Market Resilience: The recovery of contract trading has outpaced expectations, with the top two indices reaching approximately 86% of normal levels and the top 70 exceeding 87%, outperforming competitors.
Sustained Trading Volume: Bybit's trading activity remains strong, with volumes exceeding $40 billion in the past two days, a testament to the resilience and trust of its global user base.
Strengthened Proof of Reserves
In alignment with its commitment to transparency, Bybit has conducted an additional proof of reserves audit, supplementing its regular monthly verifications. The results confirm full collateralization of all client assets:
BTC: 102%
ETH: 102%
SOL: 103%
USDT: 104%
USDE: 116%
USDC: 229%
These figures underscore Bybit's financial stability and its commitment to ensuring client assets remain fully backed at all times.
'We have taken swift and decisive actions to reinforce our security measures and protect our users. Our top priority is to maintain the highest standards of transparency, resilience, and trust,' said Ben Zhou, Co-founder and CEO of Bybit. 'We deeply appreciate the unwavering support from our clients and partners, which has been instrumental in our rapid recovery.'
#Bybit / #TheCryptoArk
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.
Head of PR
Tony Au
Bybit
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Upturn
an hour ago
- Business Upturn
Novartis Pluvicto™ demonstrates statistically significant and clinically meaningful rPFS benefit in patients with PSMA-positive metastatic hormone-sensitive prostate cancer
By GlobeNewswire Published on June 2, 2025, 10:15 IST Ad hoc announcement pursuant to Art. 53 LR At interim analysis, PSMAddition trial met its primary endpoint showing statistically significant and clinically meaningful benefit for Pluvicto™ plus hormone therapy versus hormone therapy alone, with positive trend in overall survival (OS) 1 Pluvicto is already approved for metastatic castration-resistant prostate cancer (mCRPC) and now shows potential in patients in an earlier disease setting 1,2 Novartis to present results at an upcoming medical meeting and, based on FDA feedback, will submit for regulatory review in the second half of the year Novartis is investigating a broad portfolio of RLTs in advanced cancers, including breast, colon, lung and pancreatic and is investing in multiple manufacturing facilities, with industry-leading infrastructure to accelerate delivery of RLTs to patients Basel, June 2, 2025 – Novartis today announced topline results from a pre-specified interim analysis of the Phase III PSMAddition trial. The trial met its primary endpoint with a statistically significant and clinically meaningful benefit in radiographic progression-free survival (rPFS) with a positive trend in overall survival (OS) in patients with prostate-specific membrane antigen (PSMA)-positive metastatic hormone-sensitive prostate cancer (mHSPC) treated with radioligand therapy (RLT), Pluvicto™ (lutetium (177Lu) vipivotide tetraxetan), in combination with standard of care (SoC) versus SoC alone1. In PSMAddition, the SoC is a combination of androgen receptor pathway inhibitor (ARPI) therapy and androgen deprivation therapy (ADT)3. Almost all mHSPC patients ultimately progress to metastatic castration-resistant prostate cancer (mCRPC)4. There is a need for additional treatment options with novel mechanisms of action that further delay progression, prolong OS and improve disease control compared to the current SoC, while showing a favorable safety and tolerability profile. 'The progression from metastatic hormone-sensitive prostate cancer to castration-resistant disease remains a formidable challenge that can profoundly impact the survival of patients,' said Shreeram Aradhye, M.D., President, Development and Chief Medical Officer at Novartis. 'These results further strengthen our confidence in Pluvicto as a PSMA-targeted radioligand therapy. Following the recent FDA approval based on the PSMAfore trial in metastatic castration-resistant prostate cancer, these data suggest using it in an earlier disease setting could advance care and address a significant unmet need for hormone-sensitive prostate cancer patients.' This is the third positive read-out for Pluvicto in a Phase III trial, following the VISION and PSMAfore studies5,6. Results from PSMAddition in mHSPC show potential for treatment in an earlier setting with Pluvicto, which was recently granted US Food and Drug Administration (FDA) approval for earlier use in mCRPC, based on results from PSMAfore1,2. Novartis is harnessing the innovation of world-class scientists, strategic partnerships and one of the industry's most competitive pipelines to explore the potential of new, targeted therapies and precision medicine platforms to address the greatest unmet needs in prostate cancer. Data will be presented at an upcoming medical meeting and, based on FDA feedback, will be submitted for regulatory review in the second half of the year. About PSMAddition study PSMAddition (NCT04720157) is a Phase III, open-label, prospective, 1:1 randomized study comparing the efficacy and safety of Pluvicto in combination with SoC (ARPI + ADT) vs. SoC alone in adult patients with PSMA-positive mHSPC3. Patients randomized to the SoC alone arm are allowed to crossover to receive Pluvicto, upon confirmation of radiographic progression by blinded independent review committee (BIRC) and per the discretion of the treating physician3. The primary endpoint is rPFS, defined as the time to radiographic progression by PCWG3-modified RECIST V1.1 (as assessed by BIRC) or death3. The key secondary endpoint of OS is defined as time to death due to any cause3. About Pluvicto™ (INN: lutetium (177Lu) vipivotide tetraxetan) Pluvicto is an intravenous RLT that combines a targeting compound (a ligand) with a therapeutic radionuclide (a radioactive particle, in this case lutetium-177)5,7. After administration into the bloodstream, Pluvicto binds to PSMA-expressing target cells, including prostate cancer cells that express PSMA, a transmembrane protein5,7. Once bound, energy emissions from the radioisotope damage the target cells and nearby cells, disrupting their ability to replicate and/or triggering cell death7. Pluvicto is the only PSMA-targeted agent approved for PSMA-positive mCRPC and is the first targeted RLT to demonstrate a clinical benefit for patients with PSMA-positive mHSPC1. Novartis is investigating Pluvicto in earlier stages of disease, including oligometastatic prostate cancer (PSMA-DC, NCT05939414). Novartis and radioligand therapy (RLT) Novartis is reimagining cancer care with RLT for patients with advanced cancers. By harnessing the power of targeted radiation and applying it to advanced cancers, RLT is designed to deliver treatment directly to target cells, anywhere in the body8,9. Novartis is investigating a broad portfolio of RLTs, exploring new isotopes, ligands and combination therapies to look beyond gastroenteropancreatic neuroendocrine tumors (GEP-NETs) and prostate cancer and into breast, colon, lung and pancreatic cancer. Novartis has established global expertise, with specialized supply chain and manufacturing capabilities across its network of RLT production sites. To support growing demand for RLTs, we have expanded production capabilities in Millburn (NJ), Zaragoza (Spain), Ivrea (Italy) and a state-of-the-art facility in Indianapolis (IN). In Carlsbad (CA), Novartis is establishing its third US-based RLT manufacturing site to support expanded use of RLTs, create resiliency in its manufacturing network and optimize the delivery of medicines to patients on the West Coast. Disclaimer This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by words such as 'potential,' 'can,' 'will,' 'may,' 'could,' 'trend,' 'potentially,' 'upcoming,' 'progression,' 'progress,' 'investigating,' 'investing,' 'look beyond,' or similar terms, or by express or implied discussions regarding potential marketing approvals, new indications or labeling for Pluvicto, or regarding potential future revenues from Pluvicto. You should not place undue reliance on these statements. Such forward-looking statements are based on our current beliefs and expectations regarding future events, and are subject to significant known and unknown risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. There can be no guarantee that Pluvicto will be submitted or approved for sale or for any additional indications or labeling in any market, or at any particular time. Nor can there be any guarantee that Pluvicto will be commercially successful in the future. In particular, our expectations regarding Pluvicto could be affected by, among other things, the uncertainties inherent in research and development, including clinical trial results and additional analysis of existing clinical data; regulatory actions or delays or government regulation generally; global trends toward health care cost containment, including government, payor and general public pricing and reimbursement pressures and requirements for increased pricing transparency; our ability to obtain or maintain proprietary intellectual property protection; the particular prescribing preferences of physicians and patients; general political, economic and business conditions, including the effects of and efforts to mitigate pandemic diseases; safety, quality, data integrity or manufacturing issues; potential or actual data security and data privacy breaches, or disruptions of our information technology systems, and other risks and factors referred to in Novartis AG's current Form 20-F on file with the US Securities and Exchange Commission. Novartis is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise. About Novartis Novartis is an innovative medicines company. Every day, we work to reimagine medicine to improve and extend people's lives so that patients, healthcare professionals and societies are empowered in the face of serious disease. Our medicines reach nearly 300 million people worldwide. Reimagine medicine with us: Visit us at and connect with us on LinkedIn, Facebook, X/Twitter and Instagram. References Data on file. Pluvicto [prescribing information]. Millburn, NJ: Advanced Accelerator Applications USA, Inc.; 2025. An International Prospective Open-label, Randomized, Phase III Study Comparing 177Lu-PSMA-617 in Combination With SoC, Versus SoC Alone, in Adult Male Patients With mHSPC (PSMAddition). identifier: NCT04720157. Updated March 5, 2025. Accessed June 2, 2025. Oing C, Bristow RG. Systemic treatment of metastatic hormone-sensitive prostate cancer—upfront triplet versus doublet combination therapy. ESMO Open 2023l doi: 10.1016/ Sartor O, J. de Bono KN, Chi K, et al. Lutetium-177–PSMA-617 for Metastatic Castration-Resistant Prostate Cancer. NEJM 2021; doi: 10.1056/NEJMoa2107322. Morris M, Castellano D, Herrmann K, et al. 177Lu-PSMA-617 versus a change of androgen receptor pathway inhibitor therapy for taxane-naive patients with progressive metastatic castration-resistant prostate cancer (PSMAfore): a phase 3, randomised, controlled trial. The Lancet 2024; doi: 10.1016/S0140-6736(24)01653-2. University of Chicago Medicine. Lutetium-177 PSMA Therapy for Prostate Cancer (Pluvicto). Accessed June 18, 2024. Jadvar H. Targeted Radionuclide Therapy: An Evolution Toward Precision Cancer Treatment [published correction appears in AJR Am J Roentgenol. 2017 Oct;209(4):949. doi: 10.2214/AJR.17.18875]. AJR Am J Roentgenol. 2017;209(2):277-288. doi:10.2214/AJR.17.18264 Jurcic JG, Wong JYC, Knoc SJ, et al. Targeted radionuclide therapy. In: Tepper JE, Foote RE, Michalski JM, eds. Gunderson & Tepper's Clinical Radiation Oncology. 5th ed. Elsevier, Inc. 2021;71(3):209-249 # # # Novartis Media Relations E-mail: [email protected] Novartis Investor RelationsCentral investor relations line: +41 61 324 7944 E-mail: [email protected] Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Yahoo
2 hours ago
- Yahoo
Asia Morning Briefing: BTC Stalls at 105K as Analyst Says Market Looks 'Overheated'
Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas. Bitcoin BTC is trading above $105K as Asia begins its business week. The world's largest digital asset remained relatively stable over the weekend, with a 0.4% movement, and trading volume was compressed. While overall market conditions remain bullish, a new report from CryptoQuant suggests that certain metrics indicate the BTC market is 'overheating.' The report shows bitcoin demand has climbed to 229,000 BTC over the past 30 days, approaching the December 2024 peak of 279,000 BTC. At the same time, whale-held balances have risen by 2.8 percent, a pace that often signals slowing accumulation. These indicators suggest the current rally, which pushed prices to a record $112,000, may be nearing a short-term top. The report highlights $120,000 as the next major resistance level, tied to the upper band of the Traders' On-chain Realized Price, where unrealized profits would hit 40 percent, a threshold that has historically marked local tops. While CryptoQuant's "Bull Score Index" remains strong at 80, signaling continued bullish momentum, rising profit margins, and peaking demand growth suggest traders may face a period of consolidation before the next leg higher. James Wynn Gets Liquidated, But Says He'll 'Run it All Back' James Wynn, a trader renowned for his aggressive, high-leverage bets on Hyperliquid, has been fully liquidated, leaving him with just $23 in his account after sustaining losses totaling more than $17 million, CoinDesk previously reported. Wynn, who attracted significant attention with trades involving bitcoin, memecoins like PEPE, and even obscure tokens such as FARTCOIN, first faced steep declines from a massive $1.25 billion long position on BTC, resulting in a loss exceeding $37 million after prices dipped below $105,000 amid geopolitical turmoil. Throughout the volatile month, Wynn rapidly cycled through trades, briefly netting an unrealized gain of $85 million before market swings wiped him out completely. An account associated with Wynn downplayed the dramatic liquidation, defiantly stating on X: "I'll run it back, I always do. And I'll enjoy doing it. I like playing the game. I took a large and calculated bet at making billions." Brazil's Méliuz Shares Sink 8% After Announcing $78M Equity Raise to Buy Bitcoin Brazilian fintech Méliuz plans to raise up to $78 million through a public equity offering, intending to allocate all proceeds to purchasing Bitcoin and positioning the cryptocurrency as a primary strategic asset in its treasury, CoinDesk previously reported. However, Méliuz's strategy hasn't impressed the market yet, as shares dropped more than 8% following the announcement. The initial offering includes 17 million common shares, with the potential to expand up to 51 million, and investors will receive subscription warrants allowing future stock purchases at set prices. Known for its cashback and financial services platform serving over 30 million users, Méliuz currently holds 320.2 BTC, having previously committed 10% of its cash reserves to Bitcoin in March. Trading for the subscription warrants is expected to commence on June 16, with share settlement and warrant issuance finalized by June 18. NYC Comptroller Rejects Mayor Adams' 'BitBond', Warns Deviating from Dollar Could Undermine City's Credit Reputation New York City's Comptroller Brad Lander sharply criticized Mayor Eric Adams' plan to issue municipal bonds backed by bitcoin, labeling the proposed "BitBond" as "legally dubious and fiscally irresponsible," CoinDesk previously reported. Lander rejected the idea just days after Adams introduced it at a bitcoin conference in Las Vegas, emphasizing that cryptocurrency's instability makes it unsuitable to reliably fund critical city projects such as infrastructure and affordable housing. Mayor Adams has actively promoted cryptocurrency initiatives since entering office, including converting his own paychecks into digital assets and establishing a digital asset advisory council. However, Comptroller Lander highlighted serious practical concerns with the BitBond proposal, noting federal tax laws and city financial regulations would make the proposal unworkable, and warned that deviating from the dollar-based municipal borrowing system could undermine investor confidence and New York City's credit reputation. BTC: Bitcoin showed resilience, staging a V-shaped recovery between $103,813.37 and $105,305.75 amid notable volume spikes. ETH: Ethereum formed a bullish reversal pattern, rebounding from strong support at $2,472.84 to $2,527.53 amid high-volume buying momentum, according to CoinDesk's Market Insight Bot. Gold: Gold climbed 0.6% to $3,311.66, as traders weighed its recent retreat from record highs against ongoing investor and central bank appetite driven by uncertainty over US tariffs and broader economic risks. Nikkei 225: Japan's Nikkei 225 dropped 0.89% as Asia-Pacific markets traded mixed following Trump's announcement of increased steel tariffs. S&P 500 Futures: Stock futures dipped Sunday to start June after the S&P 500's strongest month since November 2023, amid uncertainty over President Trump's tariffs following recent contradictory court rulings. Wintermute warns Pectra upgrade leaves Ethereum users at risk of automated attacks (The Block) Here's What's at Stake for Crypto in South Korea's Upcoming Election (Decrypt) JPMorgan's Jamie Dimon Says U.S. Should Stockpile Missiles, Not Bitcoin (CoinDesk) IMF Raised Concerns Over Pakistan's Plan to Allocate 2,000MW of Electricity for Bitcoin Mining (Local Report) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 hours ago
- Yahoo
Electric Motors Market Share Expected to Grow $206.4 Billion by 2029
Delray Beach, FL, June 01, 2025 (GLOBE NEWSWIRE) -- The global Electric Motors Market share is expected to grow from USD 152.2 billion in 2024 to USD 206.4 billion by 2029, at a CAGR of 6.3% during forecast period. Electric motors market is driven mainly by Increasing demand for HVAC systems among residential, commercial, and industrial end-users, growing demand for electric motors in manufacturing industries, and rising demand for energy-efficient motors. The electric motor market has bloomed forth globally. All these sectors inherit demanding environments for solving problems and improving reliability. From electric vehicles to industrial machinery, consumer electronics to wind turbines, electric motors find applications in many areas. They not only ensure low energy consumption but also increase efficiency and reduce operating costs. As the world population grows and economies expand, the demand for energy, particularly oil and gas, continues to rise. Increasing demand for HVAC (Heating, Ventilation, and Air Conditioning) systems among residential, commercial, and industrial end-users, industries shift towards energy-efficient electric motors due to lowered energy utilization and operational costs in manufacturing industries are some of the major driving factors for the electric motors market. Download PDF Brochure: List of Key Players in Electric Motors Market: ABB (Switzerland) Siemens (Germany) WEG (Brazil) Wolong Electric (China) NIDEC CORPORATION (Japan) Drivers, Opportunities and Challenges in Electric Motors Market: Driver: Increasing demand for HVAC systems in residential, commercial, and industrial sectors Restraint: Fluctuating prices of raw materials Opportunity: Transition in the global automotive industry toward electric vehicles Challenge: Shortage of components and supply chain issues Electric mobility is making a huge transition in the global automobile industry. The proactive efforts for the decarbonization of society in Europe are driven by the ever-increasing share of electric motors in the market. Advancements in battery technologies have reduced costs of batteries and improved the charging speed of the batteries. The increase in government support by providing redemptions on tax and incentives for promoting eco-friendly electric vehicles through electric motors are also acts of opportunities for the growth of the electric motors market. As per the IEA, it is revealed that 50% of global passenger electric vehicles should come from China in the year 2025. Many governments worldwide are implementing policies and incentives to promote the adoption of electric vehicles as part of efforts to reduce greenhouse gas emissions and combat climate change. These policies include subsidies for EV purchases, tax incentives, and stricter emissions regulations, all of which are accelerating the transition to electric mobility and, consequently, increasing demand for electric vehicle motor market. The rapid growth of the EV market has led to the construction of new manufacturing facilities dedicated to producing electric vehicles and their components, including electric motors. Major automakers and new EV startups are investing heavily in scaling up production, which includes securing a reliable supply of electric motors. the growing demand for electric vehicles is a major driver of demand for electric motors. The transition to electric mobility, driven by technological advancements, government policies, and consumer preferences, is creating a significant and expanding market for electric motors across a wide range of vehicle types and applications. As the EV market continues to grow, the demand for efficient, powerful, and innovative electric motors will remain strong.. Request Sample Pages: Asia Pacific region to be the largest electric motors market Asia Pacific is expected to dominate the global electric motor market size between 2024–2029, followed by Europe and North America. The urban population growth drives demand for infrastructure, including commercial buildings, residential complexes, and public utilities, all of which rely heavily on electric motors for HVAC systems, elevators, water treatment, etc are the reasons for the region's significant market size. Countries such as China and India are driving demand, supported by government initiatives promoting industrial automation and renewable energy adoption. The region's large water treatment plants and increasing electric vehicle manufacturing add to the demand for high-power motors. Moreover, improving motor efficiency and compact high-density designs also increase the market further. This is driving the electric motor market size in the Asia Pacific region. Related Reports: Brushless DC Motor Market - Global Forecast to 2028 Energy Efficient Motor Market - Global Forecast to 2028 CONTACT: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe. Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem. The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts. To find out more, visit or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Rohan Salgarkar MarketsandMarkets™ INC. 1615 South Congress Ave. Suite 103, Delray Beach, FL 33445, USA: +1-888-600-6441 Email: sales@ Visit Our Website:
