Inspection Reason

The two largest cryptocurrency market, East Asia and North America(mainly U.S.), account for almost half of the global crypto market. Compared with their competitors in East Asia, American exchanges are subject to more rigorous regulation. Coinbase, the biggest cryprocurrency exchange in the world, is also located in the United States. In order to help investors better understand the country’s cryptocurrency exchanges, the inspection team went to the United States for a field visit.

Inspection Process

The business visited this time is PayBito, a cryptocurrency exchange in Palo Alto, whose address is 2100 Geng Road, Palo Alto, CA, USA.

The inspection personnel arrived at the destination, an office building at 2100 Geng Road, Palo Alto, whose name is REGUS. The building actually serves as a co-working space or a virtual office. The inspection personnel didn’t find the brand logo on the signboard outside the building, and when approaching, they found the building empty. Maybe people are working in home offices because of the pandemic.

Inspection Summary

The inspection team went to visit cryptocurrency exchange PayBito in Palo Alto, U.S.. The building on its released address is a co-working space, and there is no sign of the exchange on the signboard of the building. Moreover, no one actually worked in the building. As for the conclusion, PayBito may not have real operation address. Investors should be prudent when doing business with the exchange.

Inspection Statement

The above content and opinions are for reference only and should not to be taken as the basis for decision making.