Mantle

<ul class="wp-block-list news-points">
 <li><strong>Bybit clarifies BIT as BitDAO’s governance token, not an exchange token.</strong></li>
 <li><strong>Mantle proposes MIP-27 to address FTX Group’s $BIT token migration controversy.</strong></li>
 <li><strong>Bybit expands into the Dutch market, opening a new office in Amsterdam.</strong></li>
</ul>
<p>Bybit has set the record straight on BIT tokens as discussions heat up within the crypto community. In a recent X post, Igneus Terrenus, Bybit’s Head of Communications, stressed that the company has never issued one. He explained that BIT is BitDAO’s <a href="https://coinedition.com/mantle-core-proposes-200m-fund-on-bitdaos-governance-forum/" rel="noopener noreferrer nofollow">governance token</a>, not Bybit’s.</p>
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   <p lang="en" dir="ltr">Bybit has never had an exchange token. BIT was BitDAO’s governance token. The BIT held by Alameda was restricted from migrating to MNT (<a href="https://t.co/e7g4CGabYD" target="_blank" rel="noopener noreferrer nofollow">https://t.co/e7g4CGabYD</a>). There is an ongoing legal process on this.</p>— Igneus Terrenus (@IgneusTerrenus) <a href="https://twitter.com/IgneusTerrenus/status/1828633789884752268?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 28, 2024</a>
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<p>Additionally, the BIT tokens held by Alameda Research are currently unable to migrate to MNT, and a legal process is determining their status.</p>
<p>This situation has sparked debate among Mantle community members regarding the migration of $BIT tokens held by the FTX Group. In response, Mantle Governance <a href="https://snapshot.org/#/bitdao.eth/proposal/0x00625c4f2d9aa9d4efb41ef3d0942194ca2087fae0599deced8b8ed86372c6c2" target="_blank" rel="noopener noreferrer nofollow">proposed a new policy</a>, MIP-27, to clarify the migration terms.</p>
<p>The proposal, building on MIP-22, sta…</p>
<p>The post <a href="https://coinedition.com/bybit-clears-the-air-on-exchange-tokens-expands-in-amsterdam/" rel="noopener noreferrer nofollow">Bybit Clears the Air on Exchange Tokens, Expands in Amsterdam</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

Bybit Clears the Air on Exchange Tokens, Expands in Amsterdam

Coin Edition

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