According to co-founder and CEO of BYBIT Ben Zhou @benbybit:
Bybit or our client fund does not have any exposures to either Silvergate or SVB. Please be reassured, business as usual.
Bybit or our client fund does not have any exposures to either Silvergate or SVB. Please be reassured, business as usual.
— Ben Zhou (@benbybit) March 11, 2023
On May 21, the Nasdaq Golden Dragon China Index fell over 3%, with Beike down 7.42%, Youdao down 6.33%, NetEase down 6.03%, Kingsoft Cloud down 5.95%, and GDS Holdings down 5.73%.
On May 21, Nvidia's stock price decline expanded to 2%, after previously rising by 1.5%.
On May 21, the Istanbul Stock Exchange in Turkey triggered a market-wide circuit breaker after major stock indices fell by as much as 6%.
On May 21, SMIC announced that on May 21, 2026, the company received a reply from the China Securities Regulatory Commission (CSRC) regarding the approval of its application for the issuance of shares to purchase assets. The CSRC approved the company's issuance of 357,343,396 shares to the National Integrated Circuit Industry Investment Fund Co., Ltd., 100,502,830 shares to Beijing Integrated Circuit Manufacturing and Equipment Equity Investment Center (Limited Partnership), 64,210,141 shares to Beijing E-Town International Investment and Development Co., Ltd., 12,562,853 shares to Zhongguancun Development Group Co., Ltd., and 12,562,853 shares to Beijing Industrial Development Investment Management Co., Ltd. for the purchase of related assets.
On May 21, U.S. and Brent crude oil prices continued to rise in the U.S. market, with WTI crude reaching $106 per barrel, up 3.39% for the day. Brent crude is currently reported at $105.81 per barrel, up 3.26% for the day. (Jinshi)
On May 21, CryptoQuant stated in a report that Bitcoin's recent price movements resemble those from over four years ago. CryptoQuant noted that Bitcoin's recent rise to around $82,000 is similar to a surge seen back in early 2022, when Bitcoin started at approximately $44,000 and climbed to over $72,000, the then historical high, by March of that year. Subsequently, Bitcoin fell back to around $16,000 before gradually recovering, reaching a near historical high of nearly $125,000 last October. CryptoQuant believes a similar situation may occur now. 'As stagnant stablecoin liquidity and negative price momentum simultaneously erode comprehensive signals, CryptoQuant's bullish score index has fallen from 40 to 20, entering an extremely bearish zone,' CryptoQuant stated.
On May 21, U.S. stock markets opened with the Dow Jones down 0.27%, the S&P 500 down 0.39%, and the Nasdaq down 0.5%. Microsoft (MSFT.O) rose 1.1% amid reports that Anthropic is in talks to use its artificial intelligence chips. U.S. Rare Earths (USAR.O) increased by 2.7% as the company was selected for a pilot rare earth processing project by the U.S. Department of Energy. IBM (IBM.N) saw a 3% rise, as the company is set to receive $1 billion in government funding to advance quantum computing. NIO Inc. (NIO.N) surged 5%, reporting a 112.2% year-over-year increase in revenue for the first quarter.
On May 21, U.S. stocks opened with the Dow Jones down 0.27%, the S&P 500 down 0.39%, and the Nasdaq down 0.5%. Microsoft (MSFT.O) rose 1.1% amid reports that Anthropic is in talks to use its artificial intelligence chips. U.S. Rare Earths (USAR.O) increased by 2.7% after being selected for a pilot rare earth processing project by the U.S. Department of Energy. IBM (IBM.N) saw a 3% rise as the company is set to receive $1 billion in U.S. government funding to advance quantum computing development. NIO Inc. (NIO.N) rose by 5%, reporting a 112.2% year-on-year increase in revenue for the first quarter.
Market data shows that BTC has fallen below $77,000, currently priced at $76,976.12, with a 24-hour decline of 0.06%. The market is experiencing significant volatility, so please ensure proper risk management.
Bybit, the world's second-largest cryptocurrency exchange by trading volume, has announced that it has received In-Principle Approval (IPA) from the Securities & Commodities Authority (SCA) of the United Arab Emirates (UAE) to operate as a Virtual Asset Platform Operator in the UAE. The approval, dated February 18, 2025, signifies a significant milestone in Bybit's efforts to provide a secure and compliant platform for crypto traders in the region. Bybit is now in the final stages of obtaining its fully operational license, demonstrating its commitment to meeting regulatory and compliance standards. This authorization brings Bybit closer to offering a wide range of digital asset services to retail and institutional clients in the UAE, aligning with its goal of fostering a compliant and innovative digital asset ecosystem. Bybit's progress in the UAE complements its existing regulatory approvals in the Middle East and reflects its dedication to compliance in key financial hubs worldwide.
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