Welcome DT News

  • CONTACT
  • ABOUT US
Deythere
  • Home
  • News
    image 307
    NewsCryptoSponsored Article

    Avalanche and Monero Stay Bullish While MoonBull Presale Leads the Best Crypto to Buy Debate

    Best crypto to buy has become the most discussed topic across trading…

    By
    Benedikt Krüger
    October 19, 2025
    image 303
    NewsCryptoSponsored Article
    Pepe and Brett Investors Take Note as $MOBU Presale Jumps 163% for Early Buyers, Pushing It Among the Best Crypto to Buy Now
    October 18, 2025
    Top DeFi Platforms Offering the Highest APY for Yield Farming in 2025
    CryptoNews
    Top DeFi Platforms Offering the Highest APY for Yield Farming in 2025
    October 18, 2025
    image 286
    CryptoMarketNewsSponsored Article
    Crypto News (LIVE): Money Pours into This Top Crypto to Buy Now as Cardano and SOL Investors Panic 
    October 18, 2025
    image 114
    CryptoMarketNewsSponsored Article
    Top Crypto Update: ETH and LINK Dips, While BullZilla Roars Among the Best Cryptos to Join for Oct 2025
    October 18, 2025
  • Cryptocurrency
    image 307
    Avalanche and Monero Stay Bullish While MoonBull Presale Leads the Best Crypto to Buy Debate
    7 Min Read
    image 303
    Pepe and Brett Investors Take Note as $MOBU Presale Jumps 163% for Early Buyers, Pushing It Among the Best Crypto to Buy Now
    7 Min Read
    Top DeFi Platforms Offering the Highest APY for Yield Farming in 2025
    Top DeFi Platforms Offering the Highest APY for Yield Farming in 2025
    11 Min Read
    image 286
    Crypto News (LIVE): Money Pours into This Top Crypto to Buy Now as Cardano and SOL Investors Panic 
    7 Min Read
    image 114
    Top Crypto Update: ETH and LINK Dips, While BullZilla Roars Among the Best Cryptos to Join for Oct 2025
    7 Min Read
    image 282
    Top Cryptos with 1000x Potential: MoonBull’s $600 to $56K Math Shocks Traders as XLM and SUI Trail Behind
    6 Min Read
    Previous Next
  • Pages
    • Contact Us
    • Customize Interests
    • My Bookmarks
Reading: Bybit Pulls the Plug on Web3? What’s the Real Play Behind the Move?
Share

[ccpw id=”7831″]

DeythereDeythere
Font ResizerAa
  • Home
  • Crypto
  • Market
  • News
  • Blockchain
  • Contact
Search
  • Home
  • News
  • Cryptocurrency
  • Pages
    • Contact Us
    • Customize Interests
    • My Bookmarks
Have an existing account? Sign In
Follow US
© DT News. All Rights Reserved.
Deythere > News > Market > Trading > Bybit Pulls the Plug on Web3? What’s the Real Play Behind the Move?
NewsBlockchainCryptoTrading

Bybit Pulls the Plug on Web3? What’s the Real Play Behind the Move?

Bybit Pulls the Plug on Web3? What’s the Real Play Behind the Move?
Jane Omada Apeh
Last updated: April 17, 2025 8:29 am
By
Jane Omada Apeh
Published April 17, 2025
7 Min Read
Share

Recent industry updates have revealed that Bybit is shutting down multiple Web3 services by the end of May 2025. According to an April 16 notice, this  Bybit Web3 Shutdown is a “refocused push toward innovation and scalability in the onchain ecosystem” even though some users are confused about the suddenness of the change.

Contents
  • What’s  Bybit Web3 Shutdown About? And Why It Matters
  • Not a Retreat—A Refocus on Onchain Growth
  • Crypto Market Implications: A Wake-Up Call for Overextended Ecosystems
  • Where Does This Leave Web3 Builders?
  • End of an Era or Beginning of a Smarter One?
    • FAQs on Bybit Web3 Shutdown
  • Glossary
    • References

Among the services being terminated are Bybit’s Cloud Wallet and Keyless Wallet, which will be fully shut down after May 31. This includes the DEX Pro platform, Swap & Bridge services, and the entire NFT Marketplace. The company says this is not a retreat from Web3 but a turn around to streamline its core offerings.

What’s  Bybit Web3 Shutdown About? And Why It Matters

The Bybit Web3 shutdown includes several core services that had been the backbone of the exchange’s non-custodial ecosystem. In addition to the wallets and marketplace, the Web3 Points program will be sunsetted on April 28. Based on reports, support for NFT Pro, ApeX, and Initial DEX Offering (IDO) platforms had already ended this month.

Bybit cited operational realignment and user safety as the top reasons for the overhaul. Users are advised to withdraw their assets, including NFTs, inscription assets, and tokens before the deadline to avoid permanent loss. For the Keyless Wallet, Bybit will provide a private key export tool soon but warned once exported the wallet will be irreversibly deleted.

Industry insiders say this is a broader reevaluation among centralized platforms as regulatory scrutiny increases and profitability models in Web3 come under pressure.

 Bybit’s Web3 Shutdown: Shift Toward Onchain-First Vision
Bybit Web3 Shutdown

Not a Retreat—A Refocus on Onchain Growth

Despite the Web3 rollback, Bybit says this is not an exit from the decentralized frontier. Services like Airdrop Arcade, staking products, and full functionality for Seed Phrase Wallets will remain active.

Bybit explained the shift as an “intentional streamlining of resources” to better align with onchain growth, meaning a move towards direct Layer 1 and Layer 2 integrations rather than third-party dApps and side offerings.

A Bybit spokesperson said:

“We’re entering a new phase of our onchain journey. By focusing on fewer, higher impact initiatives we will deliver a more efficient, secure and user centric Web3 experience.”

The timing coincides with Bybit’s increasing focus on native DeFi protocols, with ongoing work on Ethereum Layer 2 solutions such as Arbitrum and zkSync, according to sources.

Crypto Market Implications: A Wake-Up Call for Overextended Ecosystems

The Bybit Web3 shutdown is a bigger question mark for how centralized exchanges manage decentralized projects. Industry insiders say Web3 service sprawl without long term user stickiness has created operational inefficiencies for exchanges.

Henry Liu, former CTO of a rival platform, said:

“Many CEXs tried to do too much in Web3. Wallets, marketplaces, staking—all layered on top of each other. But without a killer use case or critical mass, these efforts became dead weight. Bybit’s retrenchment is a healthy reset.”

For token ecosystems that relied on Bybit’s infrastructure, especially NFT creators and cross-chain bridges, this means less exposure and liquidity fragmentation. It also shows how fragile it is to rely on centralized platforms to host decentralized assets.

Where Does This Leave Web3 Builders?

The shutdown also raises a deeper question in crypto: Should centralized exchanges be gateways to Web3, or is their involvement inherently contradictory?

Bybit is winding down its consumer-facing Web3 stack while keeping DeFi rails intact, so it sees more long-term value in enabling Web3 infrastructure rather than owning it.

Bybit’s Web3 Shutdown: Shift Toward Onchain-First Vision
Bybit Web3 Shutdown

The crypto community is divided. Some worry this creates onboarding friction for newbies who benefited from seamless access to NFTs and bridges. Others believe this will finally separate signal from noise and force dApp developers to build sustainable, user-driven ecosystems.

End of an Era or Beginning of a Smarter One?

Bybit Web3 Shutdown move may seem drastic, but it might be prescient. In an industry full of short-lived fads and hollow tokenomics, rationalization is long overdue. Instead of chasing trends, the exchange is now focused on building around performance, security and modular design.

As the dust settles, what’s left is a leaner Bybit with a sharper focus—and potentially a template for how CEXs can evolve into onchain enablers rather than gatekeepers.

FAQs on Bybit Web3 Shutdown

Which services are affected by the Bybit Web3 shutdown?

Bybit is discontinuing its Cloud Wallet, Keyless Wallet, NFT Marketplace, DEX Pro, Swap & Bridge, and Web3 Points program by May 2025.

Will users lose their NFTs and tokens after the shutdown?

Users must transfer all assets by May 31, 2025. Failure to do so may result in permanent loss, especially for NFTs.

Is Bybit leaving Web3 entirely?

No. Bybit will continue to offer staking, Seed Phrase Wallets and access to dApps. The shutdown is to streamline and optimize.

Why is Bybit doing this now?

Bybit is refocusing resources on scalable and high-impact Web3 infrastructure, citing efficiency and user-centric innovation.

How does this impact the wider crypto industry?

This is a watershed moment for CEXs involved in Web3. Others may follow suit to consolidate and rethink their decentralized ambitions.

Glossary

Cloud Wallet: A custodial crypto wallet hosted on centralized infrastructure.

Keyless Wallet: A wallet solution that eliminates user-controlled private keys, relies on custodial access.

DEX Pro: A decentralized exchange platform that operated within Bybit’s Web3 suite.

NFT Marketplace:  A platform where users can buy, sell, and trade non-fungible tokens.

Onchain Ecosystem: A blockchain-based environment where applications and assets operate without intermediaries.

References

Coinstats

Cryptonews

Advertising

For advertising inquiries, please email . [email protected] or Telegram

POPCAT and CRV Investors on Alert Ahead of Key PCE Data

Millionaires Don’t Gamble, They Strategize: MoonBull Whitelist Is Closing Fast – Best Crypto to Watch in 2025 as Brett and Popcat Hold Strong

Dogecoin, Solana, and Sui on the Rise: Analyst Predicts Strong Gains!

Neiro Already Took Off – Don’t Miss MoonBull, the Next 100x Crypto

Singapore-based Company Crypto.com Announces New Champions League Sponsorship

TAGGED:BybitBybit Web3 Shutdowndecentralized applications (dApps)NTF marketplaceWeb3

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Email Copy Link Print
ByJane Omada Apeh
Follow:
Omada is a dedicated crypto journalist with a passion for making the fast-paced world of digital assets understandable and engaging. With years of experience covering cryptocurrency and blockchain innovation, she offers readers more than just the headlines. She provides context, clarity, and depth. Her work spans everything from market trends and regulatory updates to emerging technologies and real-world use cases that are shaping the future of finance. Omada strives to bridge the gap between complex crypto concepts and everyday readers, ensuring that both seasoned investors and curious newcomers can find value in her insights. Her mission is simply to inform, inspire, and keep her audience one step ahead in the ever-evolving crypto universe.
Previous Article Ethereum Whale Position Emerges After BOS and CHoCH—Are Bulls Loading Up? Ethereum Whale Position Emerges After BOS and CHoCH—Are Bulls Loading Up?
Next Article SOL forecast 2025 Solana Surpasses Expectations With $120M Inflows — Will SOL Price Follow?
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Subscribe to our newslettern

Get Newest Articles Instantly!

Popular News
crypto 2024
Crypto Derivatives Market Heats Up as Innovative Products Emerge
crypto approval
Blockchain Revolutionizes Energy Markets with Decentralized Trading Platforms
crypto news
Cutting-Edge Mining Technologies Drive Efficiency in Cryptocurrency Production
crypto 2024 1200x720
Decentralized Identity Emerges as a Catalyst for Data Privacy Renaissance
space
Tech Giant Announces Breakthrough in Quantum Computing
worldwide protest
Worldwide Protests Demand Action on Climate Change
global
Global Economic Forecast Reveals Slow Recovery Post-Pandemic
solar power
Revolutionary Solar Power Technology Unveiled

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Twitter Youtube Telegram Linkedin
Deythere

DT News influence 20 million users and is the number one business blockchain and crypto news network on the planet.

Subscribe to our newsletter

You can be the first to find out the latest news and tips about trading, markets...

Menu

  • Home
  • News
© DT News. All Rights Reserved.
Banner 1
Banner 2
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?

  • English