Bybit Hack by the Numbers

Insights.
Our Data Debrief and Deep Dive insights are published twice a week and you can subscribe to them here.

DeFi
17/03/2025 Data Debrief
Anatomy of market manipulation in DeFiBitcoin bucked its downtrend last week adding 3% while the S&P 500 briefly entered correction. Binance secured its first institutional investment from Abu Dhabi’s MGX group, the largest ever single investment in a crypto firm at o...
Stablecoin
10/03/2025 Data Debrief
Stablecoin Adoption Amid New RulesBitcoin experienced sharp swings last week after President Trump announced a less ambitious-than-exp...
Written by The Kaiko Research TeamIndices
06/03/2025 Index in Focus
A Standard for Benchmarking SuccessThis week, we’re analyzing the Kaiko 10 Index (KT10), part of our multi-asset Blue Chip indices. Wit...
Written by Adam Morgan McCarthy
Bitcoin
13/01/2025 Data Debrief
Life after BTC ETFsBitcoin closed the week lower as risk assets tumbled on hotter than expected US jobs report, with prices now nearing a two-month low. In other news, the US Department of Justice approved to sell $6.5bn BTC adding to the risk-off mood.
Written by The Kaiko Research TeamStablecoin
06/01/2025 Data Debrief
Rising interest in Ethena amid Aave, USDtb launchesHappy New Year, Bonne Année, Gutes Neues Jahr, and all the rest! We’re back from our holiday hiatus just as BTC once again approaches $100k. While the past few days have been relatively quiet, expect increased activity this week with Congress set to ratify the US election results and the first full week of trading since mid-December.
Written by The Kaiko Research TeamBitcoin
19/12/2024 Deep Dive
Kaiko's Top 10 Charts of 2024As the year comes to a close we wanted to recap some of the top stories and datapoints of 2024. It was a seminal year for crypto markets. In spite of hostile regulatory conditions persisting it was also a monumental year for regulatory development with the launch of BTC and ETH ETFs alongside impending regime changes.
Written by Adam Morgan McCarthyBitcoin
16/12/2024 Data Debrief
What are the odds of Santa Rally?Bitcoin hit a new all-time high early Monday, surpassing $106K on some exchanges amid US BTC strategic reserve buzz. In other news, Microstrategy secured Nasdaq-100 inclusion, the parent company of Japanese exchange Coincheck began trading on Nasdaq, and USDC issuer Circle announced a strategic partnership with Binance.
Written by The Kaiko Research TeamAsia
12/12/2024 Deep Dive
Around the world in crypto trendsAs the year winds down, we’ve analyzed global crypto market trends, spotlighting key figures driving adoption across various countries. This regional deep dive highlights successes, challenges, and how unique market drivers, regulations, and structures shape crypto usage in each country.
Written by Dessislava AubertCEX
09/12/2024 Data Debrief
Isolationary regulation, a double-edged swordBitcoin finally crossed $100k in the early hours of Friday morning. It has since whipsawed either side of that number amid heightened volatility. Elsewhere, Donald Trump chose Paul Atkins to lead the SEC, following confirmation by the senate.
Written by The Kaiko Research TeamCEX
02/12/2024 Data Debrief
Shifting Exchange LandscapeBitcoin ended the week higher despite market jitters from President-elect Trump’s tariff threats on China, Canada, and Mexico. Meanwhile, Tether announced it will discontinue its EUR-backed stablecoin (EURT) due to regulatory challenges, while a U.S. court overturned sanctions on the cryptocurrency mixer Tornado Cash.
Written by The Kaiko Research TeamBitcoin
25/11/2024 Data Debrief
ETF options latest bullish signal for BTCBitcoin closed the week within touching distance of the highly symbolic level of $100k. Meanwhile, Cboe BZX Exchange filed four Solana spot ETF proposals, SEC Chair Gary Gensler announced plans to step down in January, and a Shanghai court ruled that individual cryptocurrency ownership is not illegal in China.
Written by The Kaiko Research TeamMemecoins
18/11/2024 Data Debrief
Attention Shifts to Meme TokensBitcoin maintains a strong momentum despite whipsawing either side of $90k over the weekend, after briefly surpassing $93K last week. Meanwhile, Bitwise filed for a multi-crypto ETF and SEC Chair Gary Gensler hinted at resigning.
Written by The Kaiko Research TeamBitcoin
14/11/2024 Deep Dive
The path to $100k for BitcoinThis week, we’re diving into the anatomy of BTC’s latest rally and its broader market implications. On Wednesday, BTC surged past $93K as post-election momentum gained traction. Meanwhile, memecoins are booming following the announcement of the creation of D.O.G.E., the U.S. Department of Government Efficiency.
Written by Dessislava AubertBitcoin
11/11/2024 Data Debrief
Bitcoin Breaks Above $80KBitcoin broke above $80K over the weekend after Donald Trump’s U.S. election win last week spurred a broad market rally. ETH is also up by over 30% since November 5, outpacing BTC for the first time in months. Meanwhile, a consortium of crypto companies launched a USD-backed stablecoin, and the U.S. SEC delayed its decision on spot ETH ETFs options.
Written by The Kaiko Research TeamBitcoin
04/11/2024 Data Debrief
2024 US General Election SpecialAhead of the US election, this week we’re revisiting the topic as a follow-up to our Deep Dive coverage from last week. We’ll examine key metrics to monitor as the election night approaches and explore the following:
Written by Adam Morgan McCarthyEthereum
28/10/2024 Data Debrief
Staked ETH market tapers amid diversificationBitcoin’s price regained ground in the early hours of Monday after pulling back on Friday, following a WSJ report that U.S. regulators are investigating Tether, the issuer of the largest stablecoin. Meanwhile, Kraken announced plans to launch its own Layer 2 solution by 2025, and Robinhood debuted presidential election betting.
Written by The Kaiko Research TeamBitcoin
24/10/2024 Deep Dive
Crypto markets positioning ahead of the US electionThis week we’re peeling back the data on the upcoming US election. For the first time in 2024 digital assets have been a talking point during the Presidential campaign. Republican candidate Donald Trump promises to embrace Bitcoin and blockchain technology, while Democrat Kamala Harris has begun to address the crypto lobby.
Written by Adam Morgan McCarthyEthereum
21/10/2024 Data Debrief
Why is ETH still lagging behind BTC?Bitcoin gained more than 5% last week despite Tesla moving $765 million of its BTC holdings to an unknown wallet. Meanwhile, DeFi protocol Radiant Capital halted lending after $50mn exploit, Singapore’s largest bank introduced tokenized banking services, and Robinhood announced it will launch BTC and ETH futures trading.
Written by The Kaiko Research TeamDeFi
17/10/2024 Deep Dive
Data Reveals Wash Trading on Crypto MarketsThis week, we’re looking at wash trading on cryptocurrency exchanges, focusing on the FBI’s recent investigation, and exploring the metrics to use for raising concerns about market manipulation in crypto markets.
Written by Anastasia Melachrinos
