After Bybit was stolen on the 21st, Bitget and MEXC have borrowed tens of thousands of ETH to ease liquidity pressure on Bybit. Regarding the cross shareholders of these exchanges, I had a brief discussion with my friends within the exchange: one ️⃣ Bybit: The equity is relatively dispersed, but Ben himself is still the largest shareholder with over 20% equity. two ️⃣ Bitget: Liu Shuai is the major shareholder, and Grace is the CEO. three ️⃣ MEXC: The ownership changed two years ago, and the new boss Tony is the controlling shareholder of MEXC; In addition, there are some small shareholders. Ben has a good relationship with Liu Shuai and Tony, and often plays together. So the two of them made a direct decision. Bitget and MEXC borrowed tens of thousands of ETH from Bybit in the first place, without collateral or interest. The rumor that Bybit and Bitget are controlled by the same boss and have a common major shareholder is inaccurate. four ️⃣ Tony has also invested in two exchanges, Bybit and Bitget, but both are minority shareholders. five ️⃣ Additionally, Bybit and Bitget do have co investors in Dragonfly, but as an investor, Dragonfly is a minority shareholder in both exchanges. Another fund that Dragonfly founder @ Feng Bo did in his early years was Ceyuan Venture Capital (formerly known as Lianchuang Ceyuan), which was also an early investor in OKX.