WikiBit Exchange Exit Risk Rankings #60 – BYDFi: Sponsored by Newcastle United and Named Among Forbes' Top 10, Yet Warned by Canada's OSC and Facing an Expired FINTRAC Registration
Introduction: An Exchange Caught Between Awards and Regulatory Warnings In the first 59 editions, weve investigated a series of exchanges, from HashKey to Zaif. Today, in our 60th edition, were taking a closer look at one that has gone all-in on branding and marketing, but whose underlying fundamentals remain questionable: BYDFi. When it comes to brand positioning, BYDFi has clearly invested heavily in its image. Founded in 2020 under the name BitYard, the platform was rebranded as BYDFi in January 2023. It claims to have more than 1 million users across over 190 countries, supports more than 1,000 spot trading pairs and 500+ perpetual contracts, and offers leverage of up to 200x. In August 2025, BYDFi signed a multi-year sponsorship agreement with English Premier League club Newcastle United, becoming its official cryptocurrency exchange partner. In December 2023, Forbes named it among the worlds top 10 cryptocurrency exchanges. In March 2026, it won the “Best All-in-One Crypto Trading Platform” award at Crypto Expo Europe. Its Proof of Reserves (PoR) is reportedly audited by Hacken, with a reserve ratio exceeding 100%. The platform also maintains an 800 BTC User Protection Fund and offers copy trading, automated trading bots, MoonX (an on-chain Meme coin trading engine), and









