Bybit CEO Ben Zhou advocated for decentralized finance (DeFi) and interoperability between conventional finance and crypto throughout his keynote on the DACOM Singapore 2024 occasion.
“The panorama isn’t solely outlined by full decentralization or full centralization. Reasonably, there exists a various spectrum of hybrid DeFi fashions,” mentioned Zhou. He highlighted the trade’s trajectory in the direction of interconnectedness between typical and decentralized monetary techniques.
Zhou additionally addressed misunderstandings round DeFi and its relationship with conventional finance. He highlighted crypto’s worth proposition as a selection, particularly the place native monetary infrastructure struggles.
Bybit’s one of many prime three crypto spinoff exchanges, with virtually $30 billion in futures buying and selling quantity for the previous 24 hours on the time of writing.
Providing an trade outlook, Zhou predicted elevated institutional participation and a retail development towards self-custody. He underscored the significance of adaptability in navigating the dynamic crypto panorama, stating Bybit’s dedication to evolving alongside market calls for. Bybit’s CEO additionally confused sustaining market integrity and stopping manipulation given the alternate’s institutional consumer focus, mentioning a proactive regulatory engagement stance and emphasizing constructive dialogue and various compliance frameworks.
Furthermore, Zhou reiterated collaborating with regulators, significantly central banks, to allow licensing and monetary innovation whereas acknowledging cross-jurisdiction engagement challenges. He concluded by highlighting compliance’s crucial function in fostering trade progress and legitimacy.
