Bybit

Dogwifhat (WIF) surges past $41 post-Bybit listing, potentially becoming 6th largest crypto. Unusual price movement brings optimism despite market pullback. Cat-themed coins, including WIF, face losses ranging from 11% to 49.3%.

Hong Kong's Securities and Futures Commission has stopped accepting crypto exchange license applications, with non-compliant exchanges facing closure by 31 May 2024. Licensed operators include OSL Digital Securities and HashKey Exchange, while notable applicants like Bybit and OKX seek approval, though platforms like Coinbase and Kraken are absent.

Singaporean woman Ho Kai Xin accused of embezzling $4.2 million from a crypto firm, facing charges including cheating and money laundering. High Court ruling recognising crypto assets as property sets legal precedent amid allegations and counterclaims.

Crypto scam cases in Hong Kong rose by 170% in a year, prompting the Securities and Futures Commission to demand licensing applications from exchanges like OKX and Bybit to combat fraud and secure investor trust. As regulatory pressure mounts, the approval of reputable exchanges is crucial for Hong Kong's crypto market to thrive and establish itself as a trusted digital asset hub.

Cryptocurrency exchanges have seen record volumes, with Binance leading the market with a 49% share. ByBit, Huobi, and OKX have also experienced significant growth, driven by higher cryptocurrency prices and the approval of spot Bitcoin ETFs.

OKX's weak verification methods, coupled with platforms like OnlyFake, raise concerns over widespread identity fraud in online transactions.

Bybit applies for a Hong Kong license, signaling strategic expansion and intensifying competition in the burgeoning Asian cryptocurrency market.

India has heightened its crackdown on offshore crypto exchanges, leading Apple to remove apps of platforms like Binance and Bitfinex from its App Store within the country. Regulatory measures, including compliance notices and a 1% levy called Tax Deducted at Source (TDS), reflect India's commitment to enforcing crypto regulations, impacting both local and offshore exchanges.