Reason for this visit

The United States is one of the largest cryptocurrency markets globally, with major digital assets such as Bitcoin and Ethereum gaining wide popularity, attracting a large number of investors and innovators. The US has a broad base of retail and institutional investors, including individual investors, hedge funds, family offices, and more. In terms of regulation, the SEC has been closely monitoring digital assets, with its regulatory stance on digital assets fluctuating at different times but overall emphasizing the protection of investor interests. The CFTC is primarily responsible for regulating the futures and derivatives markets of digital assets and has approved products such as Bitcoin futures. Financial regulatory agencies in various states in the US are also taking measures, with some encouraging digital asset innovation and others adopting a cautious regulatory attitude. In the future, as institutional investor interest in digital assets grows, it is expected that an increasing number of institutional products and services will enter the market, thereby driving market growth. To help investors gain a more comprehensive understanding of cryptocurrency exchanges in the United States, WikiBit survey team decides to go to the country for on-site visit to local companies.

On-site visit

In this issue, the survey team went to the US to visit cryptocurrency exchange Coinbase as planned according to its regulatory address that 430 California Street San Francisco, CA 94104-1301.

The investigators came to 430 California Street in San Francisco of California in the US for a visit to the exchanges office on October 16, 2023, and located a commercial building at the corner of Lediesdorff Street and California Street in the heart of the CBD. The logo of United Commercial Bank could be seen on the top of the building, while the street number was prominently displayed at the entrance.

There was no any outdoor directory around the building. Upon arrival at it for further investigation, the survey personnel spotted the access system in the lobby. Therefore, people arent allowed to proceed to the working area upstairs without an access card.

Following communicating with security guards about Coinbase‘s office, they replied that Coinbase had moved away from the building a few months ago, while rejecting the survey team’s request for access to the list of companies in the building.

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

Conclusion

The survey team went to the US to visit cryptocurrency exchange Coinbase, 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 meticulous 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.