Bybit to shut down most Web3 services

Crypto exchange Bybit has officially announced the shutdown of most of its Web3 services. According to the company, users will lose access to a number of products, including wallets and decentralized transaction platforms, by May 31, 2025.

Streamlining to Refocus

According to the official statement, Cloud Wallet and Keyless Wallet, the multichain DEX Pro platform, and the Swap & Bridge cross-chain widget will all be discontinued as of May 31. Users will no longer be able to interact with these tools through Bybit’s Web3 interface.

Earlier, on April 28, Bybit will also shut down its Web3 Points loyalty program, which rewarded users with bonuses and trading fee discounts for activity across its decentralized products.

Company representatives explained that the move is part of a strategic shift aimed at focusing on core products and services. On April 8, Bybit had already closed its NFT marketplace, along with the Inscription Marketplace and IDO platforms.