The Pomp Podcast
338: ByBit CEO Ben Zhou On Building A Leading Derivatives Exchange
- Ben Zhou's background running a retail forex brokerage for eight years before launching Bybit in 2018, leveraging established trading infrastructure standards to identify gaps in crypto derivatives exchanges.
- Bybit's founding strategy to improve upon existing platforms like BitMEX and OKEx by focusing on user experience, server stability, customer support, and retail-friendly design rather than building entirely new technology.
- Affiliate marketing innovation through transparent data analytics and campaign tracking tools that enabled content creators to optimize their promotional efforts and significantly increase earnings compared to simple referral programs.
- Mobile app development as a strategic priority, with 50–80% of users in some markets (Japan 80%, Korea 70%) now trading primarily on mobile despite initial skepticism about professional trading on phones.
- World Series of Trading (WSOT), a global competition with a 200 BTC prize pool and celebrity poker players like Doug Polk and Mike McDonald, designed to build community engagement and showcase Bybit's global presence.
- Observations on crypto adoption in Asia, China's digital currency plans, and skepticism that mainstream Chinese users will abandon convenient legacy platforms like Alipay for decentralized alternatives despite privacy trade-offs.