Bitvo Comments on Pending Transaction with FTX Trading Ltd.

CALGARY, Alberta--(BUSINESS WIRE)--Noting that Bitvo Inc. (“Bitvo”) previously entered into an agreement to be acquired by FTX Trading Ltd. (“FTX”) and given the series of events that unfolded this week with respect to FTX, management would like to provide an update that the transaction has not closed and Bitvo remains independent from the FTX group of companies with no material exposure to them.

We also wanted to ensure our customers that your funds are secure with Bitvo and that trading operations as well as withdrawals and deposits have and will continue seamlessly, always honouring our Bitvo Same Day Guarantee.

Further, we wanted to emphasize that Bitvo operates on a full reserve basis and in compliance with Canadian regulations as a licensed Money Services Business with FINTRAC and as a Restricted Dealer with the Canadian Securities Administrators. Digital assets are held with independent third-parties BitGo Inc. and BitGo Trust Company, with over 80% of assets held in cold storage.

Should you have any questions, please contact Bitvo’s 24/7 customer support team at [e-mail] or 1-833-86BITVO (1-833-862-4886).

About Bitvo

Bitvo (www.bitvo.com) is a crypto asset trading platform that facilitates buying and selling of crypto assets through its best-in-class website and mobile applications. Bitvo differentiates itself by making transacting in crypto assets easier than anyone else and offering proprietary features such as the Bitvo Same Day Guarantee, the Bitvo Cash Card and technical trading analysis tools. Additionally, Bitvo is managed and owned by a group of competent, transparent and qualified individuals comprised of seasoned financial markets and payment processing professionals (read more about the team here). Finally, Bitvo makes security a top priority. The company has never lost customer funds. Fiat funds are stored at major Canadian banks and crypto assets are stored primarily in cold storage with BitGo Trust Company, a licensed trust company with the South Dakota Division of Banking with US$100 million of insurance.