Bybit, a prominent cryptocurrency exchange, has undergone a leadership overhaul and introduced a compensation plan in response to issues surrounding the launch of Notcoin (NOT). The exchange aims to rebuild user confidence and ensure market stability through these strategic moves.

The reshuffling of Bybit's leadership team follows the controversial launch of NOT, which resulted in an uneven distribution of airdropped tokens among users. This disparity disadvantaged late recipients, impacting their buying power compared to those who received tokens earlier. Bybit's CEO, Ben Zhou, publicly acknowledged the oversight and the challenges faced due to the overwhelming transaction volume that strained the exchange's wallet systems.

In light of the aftermath, several senior executives have stepped down, taking accountability for the missteps during the NOT listing. Zhou emphasized the importance of strong leadership to prevent such incidents and enhance the exchange's processes for handling new token listings. Bybit is actively seeking new leaders to strengthen its operations and rebuild trust among its user base.

To address the community's concerns, Bybit introduced a compensation plan to assist users affected by the trading discrepancies during the NOT launch. The plan included a 30 MNT airdrop, a $50 trading bonus, and a three-month upgrade to VIP +1 status.

Existing VIP users were also eligible for bonuses based on their membership level, with the total compensation amounting to approximately $26 million. Bybit swiftly processed these funds within three working days and sent confirmation emails to all impacted users.

Bybit's proactive measures demonstrate its commitment to user trust and regulatory compliance. The exchange's swift financial response and transparent communication were aimed at mitigating the fallout from the launch issues and stabilizing the market performance of the token post-launch.

Despite the initial pricing differences of NOT on Bybit compared to other exchanges, the token's price has shown significant recovery, currently trading above $0.01176. Analysts have identified support levels at $0.01138 and resistance at $0.01319, indicating a consolidation phase as NOT gains traction among investors and moves towards normalization in the market.