[PRESS RELEASE – Dubai, United Arab Emirates, May 21st, 2024]

Bybit, one of the world’s top three crypto exchanges by volume, experienced a surge in trading volume on the popular ETH/BTC pair on the back of news that US regulators may approve an Ethereum ETF soon. Following the news, traders potentially profited from ETH’s impressive 15% move against BTC.

The news that caused the surge was that US regulators asked ETH ETF applicants to update their filings, causing speculation that the updates pointed to a higher likelihood of approval — though nothing is guaranteed. Even so, traders were quick to pay double the funding rate to long ETH against BTC in the wake of the news.

For some traders, ETH/BTC is a key ratio in crypto markets because the top two crypto assets account for roughly 74% of the crypto market cap. Recently, it’s been “down only” for ETH as it lost momentum and struggled to fend off competitors; just last week, it made a new low against BTC falling to the lowest level in three years.

Traders on Bybit can capitalize on the volatility surrounding this narrative by trading BTC/ETH perpetual contracts themselves or via an array of simple bots that do all the calculations for you. Furthermore, Bybit, which just hit 30 million users globally, is running its Ethereum Euphoria event, offering users the chance to win USDT and a Tesla Cybertruck while learning about the impact of this kind of market event.

About Bybit

Bybit is one of the top three cryptocurrency exchanges by trading volume with 30 million users established in 2018. It offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, users can visit Bybit Press.

For media inquiries, users can contact: media@bybit.com

For more information, users can visit: https://www.bybit.com

For updates, users can follow: Bybit’s Communities and Social Media

[PRESS RELEASE – Hong Kong, Hong Kong, May 21st, 2024]

Cronos has announced an upgrade to its zkEVM testnet to the latest major release known as Tethys. Its introduction brings the zero-knowledge (ZK) layer-2 blockchain secured by Ethereum a major step closer to its mainnet launch, planned for this summer

The Tethys upgrade is based on zkSync’s v24 release, which paved the way for zkSync Era to evolve from a standalone blockchain to one of many ZK Chains within the zkSync ecosystem. The same technology is now being utilized to accelerate Cronos zkEVM’s goal of developing a highly scalable network that will support mainstream adoption.

Built using ZK Stack, Tethys has been launched in a partnership between Cronos Labs, and engineering teams from Matter Labs, Crypto.com, VVS Finance, Fulcrom Finance, and Veno Finance. Tethys adds a number of new features including an enhanced bridge between Ethereum’s Sepolia Testnet and Cronos zkEVM Testnet that connects all ZK Chains. It also enables cheaper transaction fees by storing transaction data in validium configuration.

Ken Timsit, Head of Cronos Labs, said: “Tethys brings us closer to the full release of the Cronos zkEVM and showcases the qualities that make zero-knowledge networks so versatile. Features such as reduced transaction fees, better developer tooling, and easier upgradability demonstrate that the Cronos ecosystem remains at the forefront of blockchain innovation.”

Daniel Lumi, Senior Product Manager of ZK Stack at Matter Labs said: “Cronos has an impressive track record of building a diverse ecosystem along with impressive on-chain financial value and user acquisition. They will inevitably become one of the great use cases for ZK Chains, so we’re excited to see Cronos zkEVM complete this final milestone before mainnet. With Tethys testnet, users can experience the speed, throughput, and low fee environment that will make the Cronos zkEVM capable of supporting a diverse range of use cases and applications.”

To accelerate testnet adoption, Cronos will soon announce a series of quests that are open to the community. Users who complete simple tasks on the Tethys testnet can provide valuable feedback and will have an opportunity to join the upcoming Cronos zkEVM user reward program. Forthcoming upgrades to Tethys will also add features such as an optimized gas price adjuster and the ability to bridge crypto assets from Ethereum to Cronos zkEVM without holding any CRO on Ethereum.

More information available at: https://docs-zkevm.cronos.org

About Cronos

Cronos (cronos.org) is a leading blockchain ecosystem that has partnered with Crypto.com and more than 500 application developers and contributors representing an addressable user base of more than a hundred million people around the world. Cronos’ mission is to make it easy and safe for the next billion crypto users to adopt self-custody in Web3, with a focus on Decentralized Finance and Gaming.

The Cronos universe encompasses 3 chains: Cronos EVM, the leading Ethereum-compatible blockchain built on the Cosmos SDK; Cronos POS, a leading Cosmos chain for payments and NFTs; and Cronos zkEVM, a new high performance layer 2 network secured by Ethereum.

Cronos ranks among the top 15 blockchain ecosystems, encompassing more than 6 billion dollars of user assets. Since inception, it has securely settled more than 100 million transactions.

Cronos is supported by Cronos Labs, a Web3 start-up accelerator focused on DeFi, GameFi, and the development of the Cronos ecosystem.

[PRESS RELEASE – Victoria, Seychelles, May 21st, 2024]

Bitget, the leading cryptocurrency exchange and Web 3 company, today announces the appointment of Gracy Chen as its new Chief Executive Officer (CEO), effective in May 2024, succeeding Sandra Lou, who will be leaving the platform to pursue her own business goals. With over 10 years of experience in business management, marketing, and investment, Gracy proves herself to be a leading female entrepreneur in the crypto world.

Since 2014, as a notable TV host, Gracy found herself increasingly drawn into the dynamic world of blockchain technology, hence, cryptocurrencies through her interactions with knowledgeable guests like Tim Draper. Each interview not only enriched her show but also deepened her fascination with this emerging field. Her growing passion for the subject soon evolved to invest in several crypto startups, including Bitkeep (currently Bitget Wallet), the largest Web 3 multi-chain wallet in Asia.

In June 2022, Gracy joined Bitget as its first Managing Director (MD), leading Bitget’s growth strategies as the platform accelerates its global expansion plan. Over the past two years, her exceptional ability to manage and inspire multinational decentralized teams has been instrumental in navigating the fast-paced and highly competitive cryptocurrency landscape. One of her most remarkable achievements was co-leading the strategy that quadrupled Bitget’s user base through partnerships with legendary footballer Leo Messi as well as the establishment of a robust global affiliate network. This solidified Bitget’s position as a top-five crypto exchange and Web 3 platform.

“I’m extremely honored to step into the role of CEO at Bitget,” said Gracy Chen. “Over the past six years, with the robust foundation we’ve built and an incredible team by my side, Bitget has transformed into a leading crypto platform. By consistently innovating in product offerings and creating value for our 25 million users, Bitget has risen to become a top 5 futures trading platform and a top 10 spot trading platform. I’m thrilled to continue to be part of shaping this industry that is on the edge of innovation, empowering the future of digital finance. It’s a privilege to lead such a dynamic group and I can’t wait to steer our global expansion to new heights!”

Gracy is also advocating for a more diverse and inclusive crypto industry by leading two Corporate Social Responsibility (CSR) initiatives at Bitget. She spearheaded the launch of the #Blockchain4Youth campaign in May 2023, aiming to drive Web 3 adoption by inspiring the younger generation to embrace crypto and blockchain. The activity partnered with over 50 educational institutions and benefits over 6,000 young talents in just one year. As a key initiator of Bitget’s #Blockchain4Her initiative, her vision for a sustainable future involves integrating inclusivity and gender diversity into the blockchain industry, ensuring females have equal opportunities and representation in this transformative sector.

Beyond her responsibilities at Bitget, Gracy is proactively seeking opportunities to contribute to the cryptocurrency field. As a columnist for major publications such as Forbes and Cointelegraph, she has published over 50 articles to introduce blockchain to the public. She is also known as a judge of the first reality crypto TV show Killer Whales, a program co-created by Hollywood producers. The show aims to discover promising Web 3 projects and empower them to make a real-life impact. Her contributions earned her recognition as a Global Shaper by the World Economic Forum in 2015, and she was elected to the Forbes Business Council in 2023.

Gracy holds a Bachelor’s Degree from the National University of Singapore (NUS) and an MBA degree from the Massachusetts Institute of Technology (MIT).

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and web3 company. Serving over 20 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.

For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

For media inquiries, please contact: media@bitget.com