According to CoinMeta, Bybit announced the appointment of Sean Ballard as the head of derivatives and institutional business, responsible for strengthening trading infrastructure, risk frameworks, and institutional business capabilities. Ballard has over 25 years of experience in global financial markets. Previously, they were in charge of high-frequency futures business in the United States, Europe, the Middle East, Africa, and Latin America at Jump Trading, and also served as a senior trader at Jump Crypto, responsible for centralized exchange trading and strategic cooperation with ecosystems. Bybit stated that this appointment comes at a time when the company is continuing to expand its institutional business. Over the past year, Bybit Institutional has launched services such as bank tripartite custody and market maker gateways, and further expanded its RWA collateral and income products.