Bearish crypto market conditions often make investors and speculators rather twitchy. Bybit CEO Ben Zhou has ice water in his veins during trying times like these. If anything, he has become even more bullish on the future of crypto.
Ben Zhou Has Zero Market Concerns
It is bold to stand up amid market adversity and claim things will get better. It is even bolder to proclaim and act upon such a message during those crunching macroeconomic developments. Bybit CEO Ben Zhou remains confident the future looks bright for crypto, and his exchange will become a beacon of hope amid those who question that outlook. If anything, the bear market enabled Bybit to undergo a big – and perhaps necessary – restructuring.
More specifically, Zhou, who spoke at TOKEN2049 in Singapore, alluded to the changes happening at the exchange. A substantial internal realignment occurred, including streamlining roles, responsibilities, and processes. It is a general business approach when times are tough, as rapidly-expanding companies will often face responsibility overlap among staffers. While that may sound beneficial, it often leads to lower productivity.
Coming out of a bear market stronger than before is no easy feat. Even so, troubling macro trends are an excellent opportunity for companies to evaluate themselves and make adjustments where necessary. Bybit has done so, and Zhou remains very bullish on the broader industry. He added:
“For us, the macro trends are nothing to fear. Rising inflation and interest rates, printing vast quantities of fiat currency, low growth or no growth – all highlight the weakness in traditional finance.”
Healthy Web3 Ambitions
The future of Bybit does not end with buying, selling, trading, and exchanging cryptocurrencies. While that will always be the core business model, the team sets its sights on Web3 developments. Zhou confirmed that Bybit is passionate about the emergence of decentralized internet and the opportunities it will provide.
Getting people to become part of the Web3 mission is a different ordeal, though. Bybit will not necessarily take up a more education-focused role, but rather deliver sophisticated products that don’t require a manual or explainer to use. Becoming the “car taking the client wherever they want to go” is an ambitious but not impossible goal.