On Feb 21, 2025, Bybit suffered a major security incident, losing $1.5 billion and triggering a widespread sell-off in the crypto market.

On Feb 21, 2025, Bybit, the world's second-largest cryptocurrency exchange, faced a major security breach when an exploit of its Ethereum cold wallet resulted in a loss of $1.5 billion. This incident triggered a broad sell-off in the cryptocurrency market, with Bitcoin’s price dropping over 20%. The market reaction indicated that the hack was part of a larger trend of de-risking across crypto assets, exacerbated by macroeconomic factors such as rising tariffs and changing global risk appetite. Although there was a temporary spike in trading volumes for USDT pairs immediately after the hack, this increase was short-lived, and did not lead to sustained trading activity.

Recovery of trading volumes and bid-ask spread

In the days following the hack, Bybit's market share in spot trading plummeted from approximately 11% to around 4%. However, the exchange demonstrated resilience as it began to recover, with market share rebounding to about 6–7%. This recovery was facilitated by the introduction of Retail Price Improvement (RPI) orders on Feb 20, 2025, which enhanced liquidity specifically for retail traders. 

Despite the initial drop in order book depth, particularly for Bitcoin and Ethereum, liquidity conditions improved significantly due to RPI orders, which deepened the order books and maintained tight bid-ask spreads. This stability in spreads indicated sustained liquidity, allowing traders to execute orders with minimal price slippage.

Shift in trading behavior, and future outlook

The aftermath of the hack also brought a notable shift in trading behavior. Bitcoin’s proportion of trading volume fell below 20%, contrasting sharply with its usual dominance of 40–50%. In response, altcoins and meme tokens gained popularity, with their trading volume peaking at nearly 60% during this period. Bybit's proactive measures, including the successful rollout of RPI orders, have not only stabilized liquidity, but have also enhanced the overall trading experience for retail investors. As Bybit continues to rebuild market confidence and improve liquidity conditions, it’s well-positioned for future growth in the competitive cryptocurrency exchange landscape. The metrics reflect a consistent recovery in trading activity, indicating a strong outlook for the platform moving forward.

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Bybit incident postmortem: How Bybit rose from the hack and protects its RPI retail users

Discover how stablecoin wallets are bridging traditional finance and blockchain, enabling fast, secure, and accessible global payments using digital dollars.

 have cushioned crypto users from market volatility. Now, stablecoin wallets are providing a new utility for stablecoins by facilitating the use of these blockchain-based products to make traditional payments.

With top names in the financial markets such as Fidelity Investments working on their own stablecoins, it's evident that these dollar-backed digital assets are increasingly replacing fiat and traditional payments.

 (WLD), the blockchain formerly known as Worldcoin, announced that it would integrate its wallets with Visa to open up the use of stablecoins en masse. Also, global payment giant BVNK has launched embedded wallets that include stablecoins, among other major currencies, to make seamless cross-border payments.

Let’s learn more about stablecoin wallets, and how they could change the way crypto moves around the world.

Stablecoins have provided users with the security and speed of 

 without exposing them to the volatility often faced by cryptocurrencies such as 

. However, their utility has been limited due to one major challenge: usability.

While stablecoins have continued to change the blockchain landscape, the real innovation lies in stablecoin wallets. These wallets — specifically, those that integrate fiat and traditional payment systems — are poised to become the critical bridge between 

 (DeFi) and traditional finance (TradFi).

Stablecoin wallets provide an essential missing link, allowing users to interact with both financial worlds seamlessly without needing to switch platforms or understand complex crypto mechanics. With stablecoin wallets, you can spend, send and receive stablecoins as easily as fiat currency — both online and in the real world.

Several innovative players are pushing the boundaries of what's possible by building wallets that blend DeFi technology with TradFi usability. Let's take a closer look at three emerging stablecoin wallets and platforms that are redefining what's possible when blockchain intersects with the financial world.

World Network and Visa’s stablecoin wallet vision

Visa has been one of the most forward-thinking traditional financial players in the crypto space. Its ongoing work to bring stablecoins into its payment ecosystem marks a bold step toward the convergence of decentralized and traditional finance.

Visa has recently partnered with World Network, a blockchain identity protocol whose token,WLD, powers transactions and governance within the World Network ecosystem. Together, the two companies are exploring how World Network's self-custody crypto wallet can integrate stablecoins into day-to-day transactions across Visa's vast global network. The vision is to allow users to store stablecoins in a stablecoin wallet, and spend them anywhere Visa is accepted. This would dramatically reduce the friction between holding digital assets and using them in the real world.

What makes Visa’s initiative significant is the infrastructure it already possesses. By embedding stablecoin capabilities directly into its existing systems, Visa isn’t just experimenting — it’s laying the groundwork for large-scale adoption. Merchants would be able to receive fiat in local currencies while users spend digital dollars, with real-time conversions and settlements happening behind the scenes.

This development would not only enhance convenience, but also create financial access to users in countries with unstable currencies or limited banking infrastructure. From a technical perspective, leveraging blockchain for near-instant settlement and programmable payments represents a leap forward in efficiency.

While Visa is focused on consumers, BVNK is tackling the enterprise side of the equation. It provides embedded wallet infrastructure that allows businesses to integrate stablecoin payments directly into their platforms.

For example, an e-commerce platform can offer its customers the ability to pay with USDC without having to develop its own wallet or crypto solution from scratch. BVNK handles the back end — wallets, conversions and compliance — while the front-end experience remains intuitive and familiar to end users.

This kind of abstraction is key to adoption. Most users don’t want to learn how blockchains work — they just want fast, low-cost, cross-border payments that “feel” like using a digital wallet or banking app. BVNK delivers this experience by allowing companies to offer blockchain-powered financial tools with the polish and UX of mainstream fintech platforms.

Its model also opens the door for new financial services — such as automated payroll in stablecoins, global supplier payments or on-chain settlement of business transactions — that are faster and more transparent than legacy methods.

 is a consumer-focused wallet that exemplifies the future of stablecoin usability. Stables allows users to store and spend various stablecoins — such as USDC, USDT, 

 — with a Mastercard debit card. connecting the benefits of digital currencies with the convenience of traditional spending.

The Stables app is designed for real-world application. Users can make everyday transactions, such as receiving payments, paying bills and even making in-store or online purchases, with their stablecoin balances. Behind the scenes, conversions from stablecoin to fiat currency happen in real time, so users don’t need to worry about whether the merchant accepts crypto.

Stables is particularly focused on making stablecoins practical for people in markets where banking systems are slow, expensive or unreliable. In these regions, having access to a dollar-pegged digital currency — and being able to spend it freely — is transformative.

By eliminating the complexity of crypto wallets and integrating seamlessly with existing payment systems, Stables is closing the gap between what stablecoins are capable of and how people actually use money day-to-day.

Stablecoin wallets allow DeFi and TradFi to coexist so that users can enjoy the stability and familiarity of traditional currencies alongside the innovative features of cryptocurrencies.

These wallets provide several benefits, described below.

Although DeFi offers various financial services without intermediaries, its complexity can deter newcomers from exploring its benefits. Stablecoin wallets simplify this landscape by providing user-friendly interfaces that make DeFi services more approachable. Users can engage in activities like lending, borrowing and 

 without needing extensive technical knowledge, thereby gaining access to innovative financial services.​

Traditional financial transactions — especially cross-border payments — often involve multiple intermediaries, leading to high fees and extended processing times. In contrast, stablecoin wallets leverage blockchain technology to facilitate direct 

 transactions, effectively bypassing traditional banking intermediaries. This significantly lowers transaction costs, making domestic and international payments more affordable.

Conventional international money transfers can take several days to process. Stablecoin wallets that operate via blockchain networks enable nearly instantaneous cross-border transactions. This speed is particularly beneficial for remittances and global business operations, for which timely payments are crucial.

Security is a paramount concern in financial transactions. Stablecoin wallets utilize blockchain technology that offers inherent security features, such as encryption and decentralization. Each transaction is recorded on a transparent and immutable ledger, reducing the risk of fraud and unauthorized alterations. Users can have greater confidence in the safety of their digital assets, knowing that robust security measures are protecting their funds.​

Much of the world’s population remains unbanked or underbanked, lacking access to essential financial services. Stablecoin wallets can bridge this gap by providing a digital means of storing and transferring value without the need for a traditional bank account. In this way, individuals in regions with limited banking infrastructure can participate in the global economy, send and receive payments and access financial services directly from their mobile devices. This inclusion fosters economic empowerment and creates new opportunities for underserved populations.

Stablecoin wallets represent a significant advancement in the fusion of digital and traditional finance. By offering seamless integration with existing financial systems, reducing costs, enhancing transaction speeds and providing robust security, they address many of the limitations inherent in conventional banking. Moreover, their role in promoting financial inclusion underscores their potential to transform the global financial landscape, making economic participation more accessible to all.

Beginner

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The future of stablecoin wallets: Bridging traditional finance and blockchain

Bybit’s USDT Fixed Savings plan is a short-term investment product under Bybit Earn that allows users to stake USDT for a fixed duration. Learn more here.

 can feel like the safest play. But what if your stablecoins could do more than just sit in your wallet?

Bybit’s USDT Fixed Savings plans give you a way to earn reliable, passive income — without compromising on safety. With guaranteed returns, fixed terms and full principal protection, it’s a low-risk way to make your USDT work for you, even while you sleep.

In this article, we’ll walk you through how Bybit’s USDT Fixed Savings works, why it’s a safe choice and how you can start earning in just a few clicks.

What is Bybit’s USDT Fixed Savings plan?

 is a short-term investment product under Bybit Earn that allows users to stake USDT for a fixed duration in exchange for guaranteed APR, with their principal protected.

Think of it like a crypto version of a fixed deposit account — simple, secure and predictable. You choose a term (e.g., three or seven days), lock up your USDT and earn interest at a guaranteed rate. Once the term ends, your original USDT and the earned interest are returned to your account — no hidden risks or surprise deductions.

This plan is designed for users who value stability and want peace of mind while earning on their stablecoin holdings.

One of the biggest concerns for users when it comes to earning products is: “Is my money safe?”

With Bybit USDT Fixed Savings, the answer is yes.

There’s a good reason that more and more users are turning to Bybit’s Fixed-Term Savings options. In times of market uncertainty or sideways price action, putting stablecoins to work can be a great way to stay productive without needing to chase risky trades.

Bybit guarantees principal protection in token amount. This means the USDT you stake is not subject to market fluctuations or volatility during the savings term. As long as you hold your position until the plan matures, you’ll receive 100% of your staked USDT back, along with your interest earnings.

There are no price risks like you’d face with volatile crypto assets, and no exposure to third-party lending platforms. Your funds are managed directly within Bybit’s trusted Earn ecosystem.

It’s a great option for risk-averse users, crypto beginners or anyone looking to earn with a clear, transparent product backed by a leading global exchange.

How to earn passive income with Bybit’s USDT Fixed Savings plans

If you’re already using Bybit and have USDT ready, you can check out the available USDT Fixed Savings plans, which are perfect for earning stable rewards while you wait for your next move. Here’s how you can get started:

 (using any supported method). To do so, click on the 

button on the upper-right corner of the page.

: Once you have USDT in your Bybit account, navigate to the 

: Check out the available USDT Fixed Savings plans and click on the corresponding 

Input the amount of USDT you would like to stake, verify your order details and click 

Congratulations! You’ve successfully staked your USDT in a USDT Fixed Savings plan. You can proceed to watch your earnings grow, and will receive your rewards after the term is up.

Passive income in crypto doesn’t have to come with high risk. Bybit’s USDT Fixed Savings gives you a secure, reliable, and fully transparent way to make the most of your stablecoins — while keeping your principal protected every step of the way.

With just a few clicks, you can start earning fixed interest on your USDT and enjoy peace of mind knowing your funds are safe.

Ready to earn while doing nothing? Head toBybit Savings and start your USDT Fixed Savings journey today!

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How to earn passive income with Bybit’s USDT Fixed Savings

Learn more about TOKYO BEAST, the web3 game developed by Japan’s leading mobile game company, and how to participate in the TOKYO BEAST Bybit Web3 airdrop event.

Blockchain gaming has come a long way since its early days of point-and-click, browser-based games. The current generation of web3 games delivers experiences on par with traditional gaming in both gameplay and narrative, offering players a genuine alternative to Web 2.0 games. 

 is a web3 game developed by Japan’s leading mobile game company. The blockchain-based game is set in 2124, a time when Androids with free will, known as “Replicants,” have become commonplace. They support the very foundation of the social economy, and humans often live comfortably as owners of these Replicants. Among these replicants are the “BEASTs,” conscious robots who have risen to prominence through participation in the high-stakes “XENO-karate” tournament. 

As the game progresses, individual motivations come to light, as questions like “What are the ambitions of the BEASTs?” and “What is the untold story behind their creation?” are explored in this complex and intricate game. 

 is centered around strategic team composition and automated battles. Players assemble teams of four BEAST androids. The key to success lies in the thoughtful combination of the unique abilities of thousands of different BEAST types. This is further enhanced by “Mods,” which are in-game items used to boost the BEASTs' statistics. 

 feature allows players to actively participate alongside their chosen proxy BEASTs, climbing the ranks of the Xeno-karate circuit in order to become legendary champions. BEAST NFTs represent the primary form of digital ownership within the 

A distinctive gene-shuffle breeding system empowers NFT holders to create entirely new BEASTs, so that they may inherit unique traits and characteristics. This breeding mechanism brings strategic elements to the game, and contributes to the potential appreciation in value and rarity of the BEAST NFTs. 

To cater to both Web 2.0 and web3 audiences, the 

 ecosystem is structured around two core components: 

. BASE offers a web3-centric experience focused on investment and economic activities, utilizing the project's native TBZ token. TRIALS provides a more traditional Web 2.0-like gameplay experience in which players can purchase in-game currency (Jewels), engage in gacha to acquire BEASTs and Mods and participate in various battles or missions. 

This dual structure allows players to engage at their own comfort level, making it easier for Web 2.0 users to explore the crypto aspects of the game at their own pace.

How to participate in the TOKYO BEAST airdrop on Bybit

 with a reward of 625,000 TGT tokens! The event is currently ongoing, and will end on Mar 25, 2025, 7AM UTC. 

This event is designed to introduce new players to the game and encourage them to interact with 

 accounts. To participate in this competition, a user needs to complete the following tasks.

5. Retweet and like TOKYO BEAST posts on X

7. Trade any assets worth 5 USDT or more on BSC chain in Dex Pro.

New to Bybit Web3 DEX Pro? Bybit has published a handy guide to help you get started on the platform. You can access it 

That’s it! You now have the chance to win a share of 625,000 TGT tokens. Please note that wallet addresses with a zero balance are not eligible for the airdrop. Airdrop distribution will take place within one month after the event has ended.

 is one of the most anticipated web3 games of this current season. Bybit’s partnership with this game provides Bybit users with an easy way to participate in this upcoming project and win rewards. 

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What is TOKYO BEAST — and how to complete tasks for the airdrop

Daily Bits

LayerZero, an omnichain interoperability protocol, has announced the launch of ZRO, its native token, with claims starting on June 20.

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The SPX index was up by 0.25% on Tuesday, boosted by strong performance in AI-related semiconductor stocks such as Nvidia. Investors are now focusing on upcoming economic reports, including US housing starts, building permits, and initial jobless claims. The broader cryptocurrency market is up, with Bitcoin and Ether rising by 0.76% and 2.64%, respectively in the past 24 hours

Today's top performer is DEGEN, which surged 19.6% following the announcement of the Rarible and $DEGEN partnership that offers points and airdrops with NFTs.


Degen (DEGEN), launched in January 2024, is a token on the Base blockchain, originally designed as a meme coin for the Farcaster decentralized social network. It has evolved beyond its initial scope to attract a diverse community of developers, content creators, and cryptocurrency enthusiasts, symbolizing community-driven innovation in blockchain. 

, allowing users to create, collect, and bid on NFTs using DEGEN. Participants can earn points by minting a special open edition NFT, creating a listing, and following Rarible on Farcaster. To mark the partnership with Rarible, 

 to issue points for minting the Rarible x Degen NFT, which qualifies users for a $DEGEN airdrop as a token of appreciation to the community.

Check Out the Latest Prices, Charts, and Data of 

LayerZero, an omnichain interoperability protocol, has announced the launch of 

, its native token, with claims starting on June 20. The fixed supply of 1 billion tokens will be distributed among community members (38.3%), strategic partners (32.2%), and core contributors (25.5%), with a rigorous anti-Sybil campaign to ensure fair allocation. Approximately 8.5% of the total supply will be claimable immediately, with additional distributions planned for future initiatives and ecosystem growth. The distribution process incorporates eligibility based on past transactions and engagement with the protocol to align and reward enduring contributors. Eligible users can verify their status via the 

 and claim their tokens on the specified date, fostering long-term protocol and community development.

Bitcoin spot ETFs have seen $714.4 million withdrawn over four consecutive trading days, indicating waning investor confidence. Major funds like Fidelity's FBTC and Grayscale's GBTC experienced significant outflows, with a notable single-day withdrawal of $83 million from FBTC. Despite these outflows, the total net asset value of Bitcoin ETFs is still substantial at $56.056 billion. Analyst Willy Woo attributes the price dip in Bitcoin, from $70,000 to approximately $65,153, to reduced mining activity and prevalent paper trading. Some analysts suggest a shift in investor focus towards upcoming Ethereum ETFs while maintaining a generally bullish outlook on the cryptocurrency sector.

Mitosis, a Cosmos-based liquidity protocol, has launched 

, enhancing yield opportunities for users depositing EtherFi’s eETH liquid restaking token (LRT) across multiple platforms including Ethereum and various layer-2 solutions. This phase introduces five new sources of yield, integrating various point multipliers based on the deposit platform. The protocol, with a total value locked (TVL) of $40 million, provides liquidity providers with convertible derivative tokens for further DeFi integration, boosting capital efficiency within the modular blockchain ecosystem. Meanwhile, the broader liquid restaking sector, led by EtherFi and EigenLayer, has reached significant growth, with the latter achieving a TVL of $18 billion despite facing criticism for its restrictive airdrop policies.

LayerZero Launches ZRO Token with Strategic Allocation and Anti-Sybil Measures

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards