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 decides to go to the country for on-site visits to local companies.

On-site visit

In this issue, the survey team went to the US to visit cryptocurrency exchange COINLIST as planned according to its regulatory address that 850 Montgomery Street, Suite 350 San Francisco.

The investigators came to 850 Montgomery Street in San Francisco of California in the US for a visit to the exchanges office on October 16, 2023, and located an office building at the corner of Montgomery Street and Pacific Avenue in a bustling surrounding environment. In the meantime, there was a directory at the entrance of the building signaling that Suite 350 is occupied by COINLIST.

Upon arrival at the 3rd floor of the building by taking the stairs for further investigation, the survey personnel spotted that suite 350 didn‘t display the company logo of COINLIST and others. It was worth noting that there was a piece of sticky paper reading some warning words like “Danger”, “Do Not Touch”, “Be Careful”. After opening the gate, the team didn’t discover any logo of COINLIST in a fully-equipped room, which seemed like a co-working space. Therefore, COINLIST might have operated in the shared office if it really had existed.

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

Conclusion

The survey team went to the US to visit cryptocurrency exchange COINLIST, but didnt find the company at its regulatory address. This suggests that the company might just register at the place without a physical business office. Therefore, investors should be cautious in choosing the exchange.

Disclaimer

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