100M support fund for free, yet employees have to go? - Developer Bybit Employee Review

1.0
Dec 5, 2022
Recommend
CEO approval
Business outlook

Pros

Nice working space. Good milestone to put on your CV.

Cons

12Nov - Bybit launches $3M support fund for FTX-affected employees 25 Nov - Bybit launches $100M support fund for institutional traders 4 Dec - Bybit announces second round of layoffs in 2022 to survive bear market . Unbelievably retarded leadership and management. Even a basic startup can comprehend the concept of corporate messaging. When Bybit announced a 100mil fund to save others and followed that up with firing 30% of its staff literally the week after, what kind of message is Bybit sending? PR first, the employees come second? More importantly, Bybit has to expect that its remaining employees / potential hires will likely feel hyper-insecure about their jobs (and what consequently follows should be obvious).

Explore other reviews about Bybit

5.0
May 15, 2026
Anonymous employee
Recommend
CEO approval
Business outlook

Pros

It's a major player in the industry with top-tier compensation and benefits. The company genuinely cares about its employees.

Cons

Be prepared for a heavy workload and high work intensity.

2.0
Aug 28, 2024
Recommend
CEO approval
Business outlook

Pros

Fast paced, decent paid and medical insurance coverage, top 3 CEX, short processing time (from interview to offer), pantry snacks, mac laptop

Cons

Untrustworthy senior mgmt | Abnormally high turnover | non-compliant CEX 1) While professing care and attentiveness towards employees, the reality falls short. Not conducive for individuals with family responsibilities, especially those with children. 2)Emphasizing a customer-first approach, yet senior management imposes impractical product launch targets that heighten the risk of errors. 3) Assertions of securing licenses for multiple markets contrast starkly with the reality of withdrawn applications without disclosed reasons. Inconsistencies between public statements and all-hands meeting messages are apparent. 4) Unprecedented turnover within the back office, notably the HR department, at Bybit. Personnel turnover occurs frequently within a span of 3-6 months. 5) Permits registration of overseas Chinese nationals without internal staff notification, disregarding potential legal ramifications for employees situated in mainland China. 6) Staff suffered substantial financial losses while holding the exchange's token. During incidents on the exchange platform, senior management utilized their exchange tokens to cover customer compensation and losses. Essentially, for employees vested in these tokens, they bore the consequences.

10
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