Summary
- Bybit has repaid 40,000 Ethereum worth $100 million to BitGet.
- The loan was provided by BitGet without interest or collateral, aimed at supporting Bybit's recovery from hacking damages.
- BitGet's CEO explained that the loan was intended to support a colleague, signaling positive market sentiment to investors.
Global cryptocurrency exchange Bybit has repaid 40,000 Ethereum (ETH) worth $100 million (approximately 140 billion won) that it borrowed from BitGet.
Blockchain analytics firm LookOnChain announced on the 25th via X (Twitter) that "Bybit has transferred 40,000 Ethereum worth $100 million to BitGet for loan repayment." Previously, Bybit had borrowed 40,000 Ethereum from BitGet to recover from recent major hacking damages.
It was reported that BitGet provided the Ethereum loan without interest or collateral. BitGet CEO Gracie Chen stated via X, "(The Bybit loan) had no interest or collateral," adding that "it was simply a loan to support a colleague in a difficult situation."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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