Cryptocurrency exchange Bybit has just announced the creation of a $100 million fund aimed at supporting institutional clients "during a difficult time for the industry."
The initiative is reportedly aimed at market makers and specialized account managers who use the platform.
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Ben Zhou, co-founder and CEO of Bybit, has said:
"We are all in this together, and it’s up to everyone to do what they can to support our industry and this is one way we are helping to give back."
Bybit has previously partnered with Nansen to disclose its users' asset volumes.
Binance and OKX announced this month the launch of their own "recovery funds" to support companies affected by the FTX crash.