Bybit COO Strives to Unite Crypto Industry With New Alliance

Bybit’s COO, Helen Liu, believes the industry’s potential hinges on collaborating under a shared vision.

Bybit COO Helen Liu talks crypto alliance.
Created by Kornelija Poderskytė from DailyCoin
  • Bybit’s COO, Ms. Helen Liu, discusses her passion for uniting the crypto industry. 
  • The executive delves into the exchange’s different approaches. 
  • Ms. Helen Liu also reveals her new Blockchain for Good Alliance project. 

The overarching goal of the blockchain industry has always been to democratize finance, empower users, and reshape traditional systems. The ethos driving this ambition is rooted in decentralization, transparency, and inclusivity. However, achieving this aspiration requires more than just technological innovation; it demands collective effort and mutual collaboration. 

Yet, the crypto industry has fractured into tribalism, with various factions preferring to work in isolation. Bybit’s COO, Helen Liu, believes the industry’s potential hinges on collaborating under a shared vision, so she has made it her mission to unite it.  

Sponsored

In an exclusive interview with DailyCoin journalist Insha Zia, Ms. Helen Liu discusses her extensive efforts to unite the crypto industry with her new alliance, Blockchain for Good. 

Bybit’s Different Approach to Standing Out

Bybit is one of the world’s leading exchanges, boasting over 27 million users. Recognized for its role in providing a platform to countless industry protocols, the exchange is home to numerous tokens, providing users access to an array of options. 

Launched in 2018, the exchange’s trajectory has been nothing short of meteoric, especially now that it is nipping at the heels of established leaders like Coinbase and Binance and carving out a significant market share for itself

In an effort to unravel the secrets behind the exchange’s unparalleled success, I asked Ms. Liu about the exchange’s strategy for maintaining its position as a global industry leader and how it planned to stand out. Her response, however, surprised me.

Sponsored

Ms. Liu said, “We don’t want to compete with competitors. It is not our goal because we believe crypto is much larger than the existing few players.” 
“We would rather unite all exchanges and players to make the cake even bigger and bring more people from Web2 to Web3,” she added. 

Ms. Liu later revealed to DailyCoin that Bybit’s community-forward approach is the one that helps it stand out. The Bybit COO stressed the exchange’s commitment to operating within the industry and actively contributing to its growth. Highlighting various initiatives, she shared:

“We are doing a lot for the industry. We recently organized the global crypto content creator conference, where we invited KOLs and YouTube influencers to educate them so they can better promote the crypto market.” 

She also revealed that Bybit had been partnering with major protocols like Solana to educate users, noting that their recent joint AMA session attracted over 10,000 live viewers.

Additionally, Bybit’s focus on collaboration is pivotal to its strategy for building partnerships and supporting industry startups. By fostering a culture of unity and cooperation, Bybit aims to create an ecosystem where startups and industry players can thrive together, which is particularly why it is emerging as a hub for new startups. 

Bybit Emerges as a Hub for Innovation

Bybit is quickly emerging as a premier destination for upcoming blockchain startups. Many new projects are racing to either secure a listing for their token on the exchange or seek mentorship from its seasoned team. 

I asked Ms. Liu what made Bybit a favorite among projects. She elaborated on the exchange’s strong relationships with regulators in various jurisdictions, citing its close ties with the Dubai Multi Commodities Centre (DMCC) as a prime example. 

“Together with DMCC, we have supported a lot of startup projects.” she shared.

The DMCC is a free zone authority in the UAE that serves as a global hub for commodities trading and enterprise. It is home to over 19,000 businesses, mainly startups, making it one of the largest and fastest-growing free zones in the world. 

In 2023, Bybit and DMCC held a hackathon with a $1 million prize pool to select and fund ten blockchain startups in the UAE. The Bybit COO highlighted that the partnership has attracted numerous projects to approach the exchange in the UAE. 

“We have provided advisory roles to many projects and helped them prepare to qualify to be listed on Bybit,” Ms. Liu stated, underlining Bybit’s commitment to an advisory role, something that has become highly sought among start-ups.
“We not only support projects to be listed but also to grow when they’re new to the world.” She added. 

To Bybit, offering direct input for fledgling projects is more than just a matter of duty; it’s also a passion project. Helen Liu believes that’s reflected in the exchange’s Blockchain For Good Alliance (BGA) initiative. 

Blockchain For Good Alliance

The BGA is a non-profit organization that Bybit recently launched to recognize and reward innovators who use blockchain technology to address real-world problems. It serves as a platform for collaboration among blockchain foundations, universities, and NGOs, uniting them in a shared mission, using blockchain for social good. 

Ms. Liu shared with DailyCoin the inspiration behind the alliance’s inception, highlighting the often solo nature of blockchain developers.

"Blockchain developers often tell me they are lonely," she revealed. 
“I wanted to find a way to help them reach an audience that is new to Web3 and, in this way, support solutions that benefit and grow the whole ecosystem. The Blockchain for Good Alliance embodies this journey, setting a course for a more inclusive world where blockchain technology better serves humanity." Ms. Liu continued. 

Intrigued by the alliance’s vision, I asked Ms. Liu about the sectors or areas she believed could have the most positive impact through the BGA. The Bybit COO emphasized that projects focusing on AI, education, or data transparency were particularly interesting to the exchange, underscoring its commitment to supporting initiatives with the potential to drive meaningful change and advancement.

In addition to the areas mentioned above, Ms. Liu underscored the importance of innovation as a key criterion for the BGA, “I think innovation is needed to solve users’ problems.” She also expressed keen interest in onboarding projects prioritizing safety and security, stressing, “Another thing I think we care about the most is safety.” 

Concluding our conversation, the Bybit COO invited partners, stakeholders, and other projects in the ecosystem to join the exchange in its shared mission with the BGA and help grow it. 

“I still believe a lot of our builders are lonely. They need support, and they are looking for success as well.” 

‘Let’s make the cake bigger,’ she said while expressing her passion for uniting the crypto industry and calling on developers and builders to join her passion project and build the blockchain industry. 

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Tags
Author
Insha Zia

Insha Zia is a senior journalist at DailyCoin covering crypto developments, especially in the Cardano ecosystem. With a Bachelor of Science in Computer Systems Engineering, he delivers high-quality articles with his technical background and expertise in data analysis and programming languages, aiming to educate and inform readers accurately, transparently, and engagingly. Insha believes education can drive mass adoption of the crypto space, and he is committed to giving DailyCoin readers a better understanding of the technology.