Bybit's Bitcoin listing debacle, Chinese company's profits up 1,100% after crypto buying: Asia Express

OUR weekly summary of news Since East Asia curators THE industry most important developments.

Bybit open day Notcoin misfortunes

Cryptocurrency exchange Bybit was involved in controversial THE initial SEO of Notcoin (NOT), A play to win game And token integrated as A Telegram mini Application And built on THE Open Network.

Basically, not all users received their airdrop Before THE walk open, exit them has A disadvantage has those WHO had. THE trade price was Next a lot lower that a few other exchanges.

“Bybit team East functioning very hard has solve THE Notcoin airdrop balance reflection issue," CEO Well Zhou In A X job on Can 16 In THE hours Before trade begin, continued:

"OUR wallet received around 370k in chain transactions Since @thenotcoin; only Bybit airdrop sent this path; he will Normally take enough A long time to be able to catch up all sales And reflect. We are trying manual credits For all users Before THE walk opens In 1 hour; please stay granted. All hands on bridge. We are trying as hard as We could has get THE no change In your account Before walk opens. »

Zhou further declared that THE exchange will formulate A compensation plan For all 320,000 users affected by unnatural Notcoin account sales on THE day of A beginning. He claims 70% of eligible users had has been credited Before THE walk open. "Sorry has to leave You all down. We will TO DO Of course Never to leave he arrive Again," THE CEO added.

Not all users were happy.

“Binance And Bitget listed [NOT] has 0.01 while Bybit listed has 0.0007,” A user wrote. "That East Why they are talk about compensation has silence people," they alleged.

Data Since Binance And Bitget show that Notcoin explain volatile trade action After It is beginning with A day of $0.000779 a piece And A of $0.035. However, THE even active on Bybit only watch A top of $0.01.

Notcoin savage trade day on Bybit.

On Can ten, Cointelegraph reported that Bybit announcement Future Notcoin For It is users.

Spear In January 2024 without A piece of money as THE name suggests, Notcoin East A free play to win game on Telegram Or users can earn rewards In THE eponym Notcoin token by tapping piece of money Icons. THE token Currently has A fully diluted walk cap of $818 millions.

East Hong Kong A crypto hub Again?

In A interview with Hong Kong media, crypto exchange OSL chief financial officer Davin Wu that THE city was A "essay ground For digital assets" In China And that "more innovative some products" are together has be spear following THE beginning of place Bitcoin And Ether AND F on April 30.

"Today, he East always In A very preliminary scene, just A departure indicate For This [crypto] industry," said Wu.

"In THE future, there can Also be margin trade, Or a few derivatives, options, eventually, etc. related has digital assets [In Hong Kong].”

Last month, THE East Asian city became THE First of all In THE world has offer both places Bitcoin And Ether AND F. THE city Also has A Cyberport initiative that attracted has adjust In 2023.

THE threshing has not has been assorted by THE reality of influx.

Before throw, Hong Kong crypto AND F attracted around $293 million In seed assets below management.Since SO net trade exits For THE six place crypto AND F to have has $29.9 million, below perform on A relative base THE huge carry of WE. place Bitcoin AND F In THE month After their liberation.

But there are always panels of hope For A recovery.

According to has A by KPMG Advisory And Aspen Digital, 92% of Hong Kong respondents are interested In digital assets, while 54% are look at...