Cryptocurrency exchange Bybit has made significant changes to its executive team just weeks after facing backlash over its handling of the Notcoin (NOT) token airdrop. Several high-level positions, including heads of spot trading, derivatives, customer service, and VIP departments, have been replaced.

While Bybit's COO Helen claims this is a routine organizational move, it's worth noting that a similar shakeup occurred in May following the Notcoin incident. The exchange faced criticism after a delayed token distribution gave some users an unfair advantage in the market. To address this, Bybit offered affected customers a compensation package worth around $26 million, including airdrops, trading bonuses, and VIP status upgrades.

Despite the controversy, Notcoin has seen some positive developments. The token recently experienced a 210 million coin burn and has been trading higher, with a 9% surge in the European session on Wednesday. However, at the time of writing, NOT has pulled back slightly, trading at $0.01551, up over 5% from the previous day.

The executive restructuring at Bybit appears to be an attempt to move past the Notcoin saga and regain user trust. As one of the largest crypto exchanges, Bybit has been jockeying for position, recently surpassing Coinbase in trading volume. The changes in leadership may be a strategic move to strengthen the exchange's operations and position it for future growth.