Ben Zhou, the co-founder and CEO of Bybit, is a Chinese entrepreneur known for his contributions to the cryptocurrency industry. Born in China, Zhou moved to New Zealand at the age of 11 with his family, which he described as his “barometer for life.” Adjusting to a new culture and learning English was challenging for him, but he credits his mother for holding the family together and his father for instilling the value of hard work.
During his childhood, Zhou developed a passion for baseball, which he played throughout his school years. His love for the sport helped him build social connections and develop strong analytical skills. He later moved to the United States to pursue higher education, where he trained himself in financial analysis before returning to China.
Career Beginnings and Entry into Cryptocurrency
After completing his education, Zhou joined global forex broker XM, where he worked for seven years, eventually becoming the General Manager for the Greater China region. In 2016, a friend introduced him to cryptocurrency, and he quickly recognized its potential. He closely followed the crypto market, and by 2017, when the industry saw massive growth, Zhou devoted significant time to learning more about blockchain technology.
Realizing that cryptocurrency exchanges lacked proper customer service and educational content, Zhou decided to take action. He launched a YouTube channel to educate people about crypto trading, providing valuable insights and analyses. His experience with financial markets allowed him to simplify complex topics for beginners.
Founding Bybit: A Vision for Change
In March 2018, Ben Zhou co-founded Bybit, a cryptocurrency derivatives exchange designed to offer better customer service and improved trading efficiency. He identified major problems with existing exchanges, such as network congestion and poor order execution. Bybit addressed these issues by implementing a system capable of handling 100,000 transactions per second, ensuring a smooth trading experience.
Bybit’s rapid growth can be attributed to Zhou’s leadership and the expertise of his team, which includes professionals from leading companies like Alibaba, Tencent, and Morgan Stanley. The exchange has since expanded globally, supporting multiple fiat currencies and forming high-profile partnerships. In 2020, Bybit collaborated with German football club Borussia Dortmund, leveraging its large fan base to increase crypto adoption.
Net Worth and Financial Growth
As of 2024, Ben Zhou’s net worth is estimated at $60 million. His wealth primarily comes from Bybit’s success, as the exchange has recorded over $1.26 trillion in trading volume with more than 10 million registered users across 140 countries. Additionally, Zhou’s undisclosed cryptocurrency holdings, including BTC and ETH, contribute to his net worth. Given his early exposure to Bitcoin when it was trading around $900, it is likely that his investments have significantly appreciated over time.
Zhou’s strategic decisions, such as launching new products like crypto lending services and expanding Bybit’s offerings beyond derivatives, have helped maintain the company’s profitability even during market downturns. His wealth is expected to grow as Bybit continues to expand its influence in the blockchain space.
Navigating Challenges and Market Crises
Like many crypto businesses, Bybit faced challenges during market downturns. The 2022 bear market forced the company to restructure, leading to workforce reductions. Zhou implemented a reorganization plan, ensuring affected employees received three months’ salary in arrears.
The collapse of FTX in November 2022 shook the crypto market, but Zhou responded proactively. Bybit launched a $100 million liquidity support fund for institutional traders, showcasing his commitment to stabilizing the industry. Additionally, Bybit released its proof of reserves, revealing that it held $1.9 billion worth of users’ assets, reinforcing trust in the platform.
Advocating for Crypto Regulation and Mass Adoption
Ben Zhou is a strong advocate for clear cryptocurrency regulations. He believes that regulatory clarity will boost mainstream adoption and improve investor confidence. Bybit has worked closely with global regulators, exiting markets like the UK when compliance issues arose while maintaining a presence in regions with well-defined frameworks.
Zhou has also played an active role in educating investors. He often emphasizes the importance of holding Bitcoin and Ethereum, calling them the “indices of the broader crypto market.” He encourages new investors to seek reliable information, warning against misleading news that could negatively impact market sentiment.
Bybit’s Global Expansion and Future Plans
Under Zhou’s leadership, Bybit has expanded into multiple markets, including Korea, Japan, and Turkey. In 2023, Zhou personally visited Turkey to support the country’s growing crypto adoption. The company has also introduced new services, such as lending, NFT trading, and fiat on-ramp solutions, making crypto more accessible.
Bybit sponsored the Blockchain Life Conference 2023, where industry leaders discussed the future of decentralized finance. Zhou highlighted the shift toward decentralization and Bybit’s role in onboarding millions of people into Web3.