Is Bybit banned in China?

Could you please elaborate on the current status of Bybit's operations in China? There have been rumors circulating that Bybit, a popular cryptocurrency exchange, is banned in the country. If so, what are the specific reasons behind this ban? Are there any official announcements or statements from the Chinese government or regulatory authorities? And how has this ban affected the cryptocurrency market and Bybit's operations globally? It would be greatly appreciated if you could provide some clarity on this matter.