ByBit

Bybit CEO and co-founder Ben Zhou has firmly denied accusations that the exchange’s campus ambassador program encouraged students to download the Bybit app and participate in contract trading. Zhou challenged the critics to provide proof and called out the spread of unverified rumors.

🚨 BlockBeats Raises Concerns Over Crypto Promotions on University Campuses
The controversy began on April 14, 2025, when BlockBeats, a Chinese Web3 news platform, called on major exchanges to stop offering contract trading bonuses to university students.
BlockBeats claimed that some crypto platforms were targeting students with low risk awareness by offering promotional incentives, leading to behavior resembling gambling. They warned that such activities could spiral into crises similar to the infamous “unsecured student loan” scandal, where students were blackmailed with explicit photos used as collateral.

🗣️ Zhou Fires Back: “Where’s the Proof?”
After the report went public, a user on X, @silverfang88, posted a message in Chinese alleging that Bybit was actively recruiting students on campus, offering trial contracts, and was also involved in suspicious practices including targeting competitor OKX.
In response, Zhou hit back strongly:

“Which school allows students to trade contracts? Show the evidence. Which legal department reported a competitor? Where’s the proof? Which coin was charged a listing fee? Bring real data.”
He added:
“Crypto is chaotic because of people like you spreading baseless rumors and living in fantasy.”

🧭 A Larger Debate: Is Crypto Marketing Crossing the Line?
The incident has sparked broader discussion in the crypto community about the ethics of marketing to financially inexperienced users, particularly students. Some are questioning whether certain platforms are crossing boundaries in the race to acquire new users.

🏫 Bitget Responds: “We Have Nothing to Do With This”
Another major exchange, Bitget, which also runs a campus ambassador program, released a statement denying any involvement in offering trading bonuses to students.
Xie Jiayin, Bitget’s regional lead in China, clarified that the program’s sole focus is educational:

🔹 Promoting Web3 and blockchain literacy

🔹 Offering internship and employment opportunities to university students
He stressed that Bitget has never distributed trading funds to students and even stopped a previous discount promotion after it was misunderstood as a trading incentive.

✅ Transparency and Accountability
Jiayin explained that Bitget is actively collaborating with university blockchain associations and has already helped 28 students secure crypto industry jobs. He encouraged users to report any misuse of student incentives, promising a reward of up to 1,000 USDT for credible information.
He also called on media platforms to be more specific in their reporting, pointing out that vague labels like “major exchanges” unfairly lump all platforms together and may mislead the public.

🧩 Summary
🔹 Bybit denies allegations and demands evidence

🔹 BlockBeats raises red flags about marketing tactics aimed at students

🔹 Bitget distances itself and highlights its educational mission

🔹 The industry is rethinking how to responsibly engage the next generation of crypto users
This situation has reignited debate about where the line should be drawn between education and exploitation in crypto outreach efforts.

#bybit , #CryptoNewss , #DigitalAssets , #CryptoCommunity , #CryptoRegulation

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