Bybit Trims Web3 Portfolio

Global crypto exchange Bybit will shutter most of its consumer‑facing Web3 lineup by May 31 2025, part of what the firm calls a strategic reset as it “enters a new phase of growth and innovation.” The move affects custodial wallets, DeFi access points, and NFT trading venues—leaving customers roughly six weeks to secure their assets.

What’s closing and when 

Wallets

• Cloud Wallet → service ends May 31 2025
• Keyless Wallet → service ends May 31 2025
  • Private‑key export tool will roll out “soon,” Bybit says.
  • Users must move tokens, NFTs, inscription assets to a Seed Phrase Wallet or Bybit Funding Account; otherwise, retrieval will require extra KYC and may be delayed.

Trading & DeFi rails

• DEX Pro, Swap & Bridge → sunset May 31
• NFT Marketplace → shuts May 31
  • Unwithdrawn NFTs will permanently disappear once the site goes dark.

Already offline (since Apr 8)

• Inscriptions hub
• NFT Pro launchpad
• ApeX portal
• Buy Crypto checkout
• IDO platform

Loyalty plans

• Web3 Points program terminates Apr 28; points lose value after that date.

What survives the cut 

Airdrop Arcade, staking suites, core DApps access, and Seed Phrase Wallets remain fully operational. Bybit says these products align with its refined roadmap, letting the company re‑allocate engineering resources to “long‑term on‑chain development” and a leaner, user‑centric experience.

“Web3 innovation is accelerating. By streamlining offerings now, we can deliver deeper, more secure tools rather than juggling a sprawling menu,” a spokesperson told CryptoSlate.

What users must do next 

1. Withdraw everything—tokens, NFTs, inscription assets—from Cloud or Keyless Wallets before May 31.
2. Check gas—each transfer needs network fees in the correct chain currency.
3. Export keys—Keyless Wallet holders should download their private keys (feature coming soon). Once exported, the wallet will be deleted from Bybit’s servers.
4. Verify transfers—confirm assets land in a Seed Phrase Wallet or external address; failed moves could lock funds indefinitely.

Larger industry themes 

Self‑custody pressure

High‑profile hacks and regulatory scrutiny have nudged exchanges to reduce custodial risk. Bybit’s exit from key‑managed wallets suggests it’s leaning into a pure‑infrastructure role rather than everyday retail custody.

Consolidation wave

With fees compressing and compliance costs rising, many crypto firms are trimming non‑core features. Bybit joins competitors that recently curtailed NFT, inscription, or DeFi spin‑offs to focus on trading and institutional services.

The Bybit Web3 Shift underscores a maturing crypto landscape where exchanges streamline to survive. Users now have a firm deadline: migrate assets or risk losing them. For Bybit, the hope is that a tighter product suite delivers sharper execution—and restores confidence—as the platform plots its next growth chapter.