Bybit Faces Scrutiny Amid HTX Links and Canceled SpaceX IPO Token

Bybit has come under scrutiny from Singapore's authorities despite claiming it doesn't serve local residents. The exchange has been facing concerns over its links to sanctioned entity HTX, formerly known as Huobi Global SA.

In May this year, the UK imposed sanctions on HTX due to suspicions that it had funneled over $1.5 billion to Russia via a network called A7. Bybit has partnered with Plume and DigiFT to launch RWA Earn, a platform allowing users to access institutional tokenized bond funds on-chain.

Bybit's tokenized stock allocations for the SpaceX IPO were also canceled due to lack of access to underlying assets. The exchange ranked sixth in the CeFi category in Fortune's 2026 Crypto 100 ranking.