Bybit, a leading crypto exchange, has not officially announced support for the purported Codex v1.16.5 network upgrade as of January 21, 2026.
The lack of announcement on the Codex upgrade reflects possible market uncertainties, potentially impacting stablecoin trajectories on the Ethereum Layer 2 blockchain.
Bybit has not announced support for Codex v1.16.5 despite speculation.
Speculation arose about Bybit’s potential support for Codex network’s upgrade v1.16.5. However, no official announcement confirms this support, contrasting announcements for other networks like the BNB Smart Chain v1.6.5 and Secret v1.23.3 in January 2026.
The involved entities include Bybit, a leading crypto exchange, and Codex, an Ethereum-based layer 2 blockchain focused on stablecoins. No actions have been officially taken concerning the Codex network upgrade as of now.
Bybit Remains Silent on Codex v1.16.5 Support
Community response remains muted due to the lack of official confirmation from Bybit. The market awaits any potential decision that could influence trading and stablecoin integration strategies. Emily Bao, Head of Spot at Bybit, stated, Stablecoins represent one of the most transformative innovations in global finance. At Bybit, we see massive opportunities ahead as stablecoins become the default medium for payments and settlement. Partnering with Codex, a blockchain purpose-built for stablecoins, allows us to bring these opportunities directly to our users.
There are no immediate financial or regulatory changes due to this anticipated upgrade. The absence of a concrete decision keeps potential technological outcomes uncertain, with no historical trend evidence of market shifts based on these speculative announcements.
Bybit’s Upgrade Support History and Expert Insights
Bybit’s history includes routine support for network upgrades like those of BSC and SCRT. Previous occurrences have typically involved major governance and Layer 1/Layer 2 assets. Similar impacts are expected if any announcement materializes.
Kanalcoin experts suggest that without official Bybit confirmation, the speculation lacks basis. Viewing data and historical trends, Bybit’s consistent patterns of support would usually precede clear business strategies and market alignments. For those interested in the ongoing developments and latest updates, the latest announcements from Bybit provide a comprehensive overview.
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