Reason for this visit

East Asia and North America (primarily the United States) are the two largest cryptocurrency trading markets in the world, accounting for approximately half of the global cryptocurrency market volume. Compared to many exchanges in East Asia, US exchanges are subject to stricter regulations, and the US is home to the world's largest cryptocurrency exchange, Coinbase. In an attempt to help investors to gain a more comprehensive understanding of current cryptocurrency 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 Berry Max as planned according to its regulatory address that 215 Union Blvd., Ste. 350, Lakewood, Colorado.

The investigators came to 215 Union Boulevard in Lakewood of Colorado in the US for an on-site visit to the exchanges office. Financial Plaza, a low-rise office building with an extensive footprint, offered excellent accessibility. Additionally, there was a wide range of facilities nearby on less bustling streets.

Upon arriving at the building for further investigation, the survey personnel noticed a reception desk and a digital directory in the spacious lobby. However, the directory did not show any information about “Berry Max.” According to the staff working in the lobby, they never heard of Berry Max, which suggested that it was unlikely to operate in the building.

Based on the exchange‘s address, the inspection team attempted to go to the suite 350 on the 3rd floor. Despite the floor’s orderly layout and immaculate corridor, no company logo or sign of Berry Max was visible. After reaching the unit, they observed that the door was closed without company information. Meanwhile, through the glass door, the office appeared empty, lacking furniture, devices, or décor. The dust on the floor suggested it had been vacant for a long time.

According to the property management staff on duty, suite 350 had been vacant since 2022. At the same time, the survey team checked Berry Max‘s website but it was inaccessible. Upon searching the domain registration information on WHOIS, they discovered that the company’s domain expired in 2022 and was not renewed. Furthermore, no information about “Berry Max” was found in mainstream commercial databases including LinkedIn and Google Maps. And the company did not have active social media accounts. All these implied that the exchange had either ceased operation or never launched.

Through the on-site investigation, it is confirmed that the company does not have a physical presence at the location.

Conclusion

The survey team went to the US to visit cryptocurrency exchange Berry Max, but did not find the company at the regulatory address. Accordingly, 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.