Reason for this visit

East Asia and North America (dominated by the United States) are home to the world‘s two largest cryptocurrency exchange markets, with the trading volume making up nearly half of that in the global crypto market. In contrast with many exchanges in East Asia, the crypto platforms in the US are more strictly regulated. In the meantime, Coinbase, the world’s top one cryptocurrency exchange, is based in the US. In an attempt to help investors to get a more comprehensive understanding of the exchanges in the US, WikiBit survey team decide to go to the country for on-site visits to the local companies.

On-site visit

In this issue, the survey team went to Colorado in the US to visit cryptocurrency exchange Frubit as planned according to its regulatory address that 10494 Downing St, Northglenn, Colorado.

The survey personnel arrived at 10494 Downing Street in Denver, Colorado on August 29, 2023. The large independent residential building is situated in a suborn of Denver. There was no information regarding any company including exchange Frubit around the building which didnt look like an office from the outside.

Through an on-site investigation, it is confirmed that Frubit doesnt have a presence at the location.

Conclusion

The survey team went to the US to visit cryptocurrency exchange Frubit, and didn‘t find the company at its regulatory address. This suggests that the company doesn’t have a physical business office at the place. Therefore, investors are advised to choose the exchange cautiously.

Disclaimer

The content is for informational purpose only, and shall not be taken as a final order for making a choice.