Bitcoin (BTC)

What is Bitcoin (BTC)?

Bitcoin is the origin of blockchain technology and the first cryptocurrency, introduced to the world in 2009 by an anonymous founder, Satoshi Nakamoto. Bitcoin’s White Paper, “Bitcoin: A Peer-to-Peer Electronic Cash System” still serves as inspiration for the crypto community.

Bitcoin isn’t minted by a central bank; instead, its supply is dictated by “miners,” other computers in the network that create bitcoin by getting their computer to solve hard math puzzles. If you’ve got a powerful enough computer, you can “mine” for bitcoin.

Bitcoin is governed by a self-regulated community of developers. After Nakamoto put forward the idea for Bitcoin, a team of (non-anonymous) developers continued work on it and further its development. In 2011, the Bitcoin Foundation was started, headed by Gavin Andresen, Jon Matonis, Patrick Murck, Charlie Schrem, and Peter Vessenes. Many still work on it today and as an open source project, anyone can jump in to work on the Bitcoin protocol.

While Bitcoin was once worth almost nothing, it has seen a rapid price increases and price volatility over the years. For additiona information, see Ethereum’s website: https://bitcoin.org

Risk Statement

Before entering into an agreement (a Crypto Contract) with Hibit Technology Ltd. (Hibit) to buy or sell any crypto assets through Hibit’s crypto asset trading platform (the Platform), it is important to understand the risks. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.

No Canadian securities regulatory authority has assessed or endorsed the Crypto Contract or Bitcoin made available through the Platform, including an opinion that Litecoin is not itself a security and/or derivative.

Hibit has performed a legal assessment of Bitcoin prior to making it available on the Platform and has concluded that Bitcoin is not and is unlikely to be deemed a security or derivative. However, there is a risk that this conclusion could change in the future. In the event that Hibit or Canadian securities regulators determine that Bitcoin is a security and/or a derivative, Hibit may be required to halt or withdraw Bitcoin from trading on the Platform and stop any future trading of Crypto Contracts based on Bitcoin, and clients holding Bitcoin may be required to liquidate their positions, potentially at a significant loss.  In the event that Hibit halts or withdraws Bitcoin from trading on Platform, clients holding positions in Bitcoin will be notif-ied via the Platform or other electronic means and advised of the options available to them and any applicable periods to sell or withdraw their positions in Bitcoin.

We evaluated Bitcoin based on publicly available information, including (but not limited to):

• The creation, governance, usage and design of Bitcoin, including the source code, security and roadmap for growth in the developer community and, if applicable, the background of the developer(s) that first created Bitcoin;
• The supply, demand, maturity, utility and liquidity of Bitcoin;
• Material technical risks associated with Bitcoin, including any code defects, security breaches and other threats concerning the Bitcoin blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them; and
• Legal and regulatory risks associated with Bitcoin, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of Bitcoin.

Like all other crypto assets, there are some general risks to investing in Bitcoin. These include short history risk, volatility risk, liquidity risk, demand risk, forking risk, cryptography risk, regulatory risk, concentration risk, electronic trading risk

and cyber security risk. Each of these risks are described in more detail in the Risk Statement presented to you at the time when you open your account with us and is available on the Platform. Further, the Bitcoin community is not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of Bitcoin have no recourse to its community or Hibit if Bitcoin declines in value for any reason.

We emphasize that this Crypto Asset Statement is not exhaustive of all risks associated with trading Bitcoin. Investors should perform their own assessment to determine the appropriate level of risk for their personal circumstances.

Hibit is offering Crypto Contracts in reliance on a prospectus exemption contained in the exemptive relief decision Re HibitTechnology Ltd. dated September 14, 2023. Please be aware that the statutory rights of action for damages and the right of rescission, in relation to a misrepresentation, in the securities legislation of each province and territory

of Canada would not apply to a misrepresentation in this Crypto Asset Statement.

Last updated: September 15, 2023

 

Ethereum (ETH)

What is Ethereum (ETH)?

Ethereum is the blockchain that cryptographically mines transactions of ether (or ETH), validates the ledger, and underpins most of the existing smart contract technology. Ether is its native crypto asset, but many other popular and valuable crypto assets are ERC-compliant tokens, which means they are created and hosted on the Ethereum blockchain, are stored and sent using Ethereum addresses and transactions, and are compliant with the protocol, but operate on applications built on top of the blockchain.

Ether and Bitcoin are similar in a lot of ways. Both, for instance, rely on a blockchain, a publicly accessible electronic ledger that permanently, and immutably records every transfer of the cryptocurrency units, and by doing so, provides the system with both self-policing and accountability.

Ethereum was first described in a 2013 white paper by Vitalik Buterin, a cryptocurrency expert well known for his work writing for Bitcoin Magazine. Ethereum transactions are processed more quickly using a different algorithm (ethash), and its code can transmit more information through its smart contract layer. This is the key differentiator and the piece that enables Ethereum to support complex development applications and executable contracts on top of its blockchain. For additional information, see Ethereum’s website: https://ethereum.org

Risk Statement

Before entering into an agreement (a Crypto Contract) with Hibit Technology Ltd. (Hibit) to buy or sell any crypto assets through Hibit’s crypto asset trading platform (the Platform), it is important to understand the risks. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.

No Canadian securities regulatory authority has assessed or endorsed the Crypto Contract or Ethereum

made available through the Platform, including an opinion that Litecoin is not itself a security and/or derivative.

Hibit has performed a legal assessment of Ethereum prior to making it available on the Platform and has concluded that Ethereum is not and is unlikely to be deemed a security or derivative. However, there is a risk that this conclusion could change in the future. In the event that Hibit or Canadian securities regulators determine that Ethereum is a security and/or a

derivative, Hibit may be required to halt or withdraw Ethereum from trading on the Platform and stop any future trading of Crypto Contracts based on Ethereum and clients holding Ethereum may be required to liquidate their positions, potentially at a significant loss.  In the event that Hibit halts or withdraws Ethereum from trading on Platform, clients holding positions in Ethereum will be notified via the Platform or other electronic means and advised of the options available to them and any applicable periods to sell or withdraw their positions in Ethereum.

We evaluated Ethereum based on publicly available information, including (but not limited to):

• The creation, governance, usage and design of Ethereum, including the source code, security and roadmap for growth in the develope community and, if applicable, the background of the developer(s) that first created Ethereum
• The supply, demand, maturity, utility and liquidity of Ethereum;
• Material technical risks associated with Ethereum, including any code defects, security breaches and other threats concerning the Ethereum blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them; and
• Legal and regulatory risks associated with Ethereum, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of Ethereum.

Like all other crypto assets, there are some general risks to investing in ETH. These include short history risk, volatility risk, liquidity risk, demand risk, forking risk, cryptography risk, regulatory risk, concentration risk, electronic trading risk and cyber security risk. Each of these risks are described in more detail in the Risk Statement presented to you at the time when you open your account with us and is available on the Platform. Further, the Ethereum community is not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of ETH have no recourse to its community or Hibit if ETH declines in value for any reason.

We emphasize that this Crypto Asset Statement is not exhaustive of all risks associated with trading Ethereum. Investors should perform their own assessment to determine the appropriate level of risk for their personal circumstances.

Hibit is offering Crypto Contracts in reliance on a prospectus exemption contained in the exemptive relief decision Re HibitTechnology Ltd. dated September 14, 2023. Please be aware that the statutory rights of action for damages and the right of rescission, in relation to a misrepresentation, in the securities legislation of each province and territory of Canada would not apply to a misrepresentation in this Crypto Asset Statement.

Last updated: September 15, 2023

 

Dogecoin (DOGE)

What is Dogecoin?

Dogecoin (DOGE) is based on the popular “doge” Internet meme and features a Shiba Inu on its logo. The open-source digital currency was created by Billy Markus from Portland, Oregon and Jackson Palmer from Sydney, Australia, and was forked from Litecoin in December 2013.

DOGE’s creators envisaged it as a fun, light-hearted cryptocurrency that would have greater appeal beyond the core Bitcoin audience, since it was based on a dog meme.

Dogecoin has been used primarily as a tipping system on Reddit and Twitter to reward the creation or sharing of quality content. You can get tipped DOGE by participating in a community that uses the digital currency, or you can get your DOGE from a DOGE faucet. A DOGE faucet is a website that will give you a small amount of DOGE for free as an introduction to the currency, so that you can begin interacting in DOGE communities.

For additional information, see Dogecoin’s website: https://dogecoin.com

Risk statement

Before entering into an agreement (a Crypto Contract) with Hibit Technology Ltd. (Hibit) to buy or sell any crypto assets through Hibit’s crypto asset trading platform (the Platform), it is important to understand the risks. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.

No Canadian securities regulatory authority has assessed or endorsed the Crypto Contract or DOGE made available through the Platform, including an opinion that DOGE is not itself a security and/or derivative.

Hibit has performed a legal assessment of DOGE prior to making it available on the Platform and has concluded that DOGE is not and is unlikely to be deemed a security or derivative. However, there is a risk that this conclusion could change in the future. In the event that Hibit or Canadian securities regulators determine that DOGE is a security and/or a derivative, Hibit may be required to halt or withdraw DOGE from trading on the Platform and stop any future trading of Crypto Contracts based on DOGE, and clients holding DOGE may be required to liquidate their positions, potentially at a significant loss.  In the event that Hibit halts or withdraws DOGE from trading on Platform, clients holding positions in DOGE will be notified via the Platform or other electronic means and advised of the options available to them and any applicable periods to sell or withdraw their positions in DOGE.

We evaluated DOGE based on publicly available information, including (but not limited to):

• The creation, governance, usage and design of DOGE, including the source code, security and roadmap for growth in the developer community and, if applicable, the background of the developer(s) that first created DOGE;
• The supply, demand, maturity, utility and liquidity of DOGE;
• Material technical risks associated with DOGE, including any code defects, security breaches and other threats concerning DOGE and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them; and
• Legal and regulatory risks associated with DOGE, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of DOGE.

Like all other crypto assets, there are some general risks to investing in DOGE. These include short history risk, volatility risk, liquidity risk, demand risk, forking risk, cryptography risk, regulatory risk, concentration risk, electronic trading risk and cyber security risk. Each of these risks are described in more detail in the Risk Statement presented to you at the time when you open your account with us and is available on the Platform. DOGE presents unique risks, notably the risks of having an unlimited supply and having less decentralization than Bitcoin (fewer node operators). DOGE has also demonstrated significant volatility given its vulnerability to public sentiment, celebrity whims, and negative press. Further, the Dogecoin community is not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of DOGE have no recourse to its community or Hibit if DOGE declines in value for any reason.

We emphasize that this Crypto Asset Statement is not exhaustive of all risks associated with trading DOGE. Investors should perform their own assessment to determine the appropriate level of risk for their personal circumstances.

Hibit is offering Crypto Contracts in reliance on a prospectus exemption contained in the exemptive relief decision Re Hibit Technology Ltd. dated September 14, 2023. Please be aware that the statutory rights of action for damages and the right of rescission, in relation to a misrepresentation, in the securities legislation of each province and territory of Canada would not apply to a misrepresentation in this Crypto Asset Statement.

Last updated: September 15, 2023

 

Solana (SOL)

What is Solana?

Solana is a highly functional open source project based on the permissionless nature of blockchain to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.

The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.

Because of the innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.

Solana’s SOL coin similarly to how ETH is used on Ethereum, but holders stake the token in order to validate transactions through the PoS consensus mechanism. It also enables users to participate in governance processes, receive rewards and pay gas fees.

For additional information, see Solana’s website: https://solana.com/

Risk statement

Before entering into an agreement (a Crypto Contract) with Hibit Technology Ltd. (Hibit)  to buy or sell any crypto assets through Hibit’s crypto asset trading platform (the Platform), it is important to understand the risks. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.

No Canadian securities regulatory authority has assessed or endorsed the Crypto Contract or SOL made available through the Platform, including an opinion that SOL is not itself a security and/or derivative.

Hibit has performed a legal assessment of SOL prior to making it available on the Platform and has concluded that SOL is not and is unlikely to be deemed a security or derivative. However, there is a risk that this conclusion could change in the future. In the event that Hibit or Canadian securities regulators determine that SOL is a security and/or a derivative, Hibit may be required to halt or withdraw SOL from trading on the Platform and stop any future trading of Crypto Contracts based on SOL, and clients holding SOL may be required to liquidate their positions, potentially at a significant loss.  In the event that Hibit halts or withdraws SOL from trading on Platform, clients holding positions in SOL will be notified via the Platform or other electronic means and advised of the options available to them and any applicable periods to sell or withdraw their positions in SOL.

We evaluated SOL based on publicly available information, including (but not limited to):

• The creation, governance, usage and design of SOL, including the source code, security and roadmap for growth in the developer community and, if applicable, the background of the developer(s) that first created SOL;
• The supply, demand, maturity, utility and liquidity of SOL;
• Material technical risks associated with SOL, including any code defects, security breaches and other threats concerning SOL and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them; and
• Legal and regulatory risks associated with SOL, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of SOL.

Like all other crypto assets, there are some general risks to investing in SOL. These include short history risk, volatility risk, liquidity risk, demand risk, forking risk, cryptography risk, regulatory risk, concentration risk, electronic trading risk and cyber security risk. Each of these risks are described in more detail in the Risk Statement presented to you at the time when you open your account with us and is available on the Platform. Further, the Solana community is not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of SOL have no recourse to its community or Hibit if SOL declines in value for any reason.

We emphasize that this Crypto Asset Statement is not exhaustive of all risks associated with trading SOL. Investors should perform their own assessment to determine the appropriate level of risk for their personal circumstances.

Hibit is offering Crypto Contracts in reliance on a prospectus exemption contained in the exemptive relief decision Re Hibit Technology Ltd. dated September 14, 2023. Please be aware that the statutory rights of action for damages and the right of rescission, in relation to a misrepresentation, in the securities legislation of each province and territory of Canada would not apply to a misrepresentation in this Crypto Asset Statement.

Last updated: September 15, 2023

 

USD Coin (USDC)

What is USD Coin (USDC)?

USD Coin (USDC) is a stablecoin that is designed to maintain a 1:1 value with the U.S. dollar. It is issued by Circle Internet Financial, LLC (Circle) and operates across multiple blockchain networks, including Ethereum (ERC-20), Solana, Algorand, Avalanche, TRON, Stellar, and Polygon. USDC provides a regulated, fully reserved, and transparent digital dollar that can be used globally for payments, trading, and decentralized finance (DeFi) applications.

USDC has been classified as a “Value-Referenced Crypto Asset (VRCA)” under CSA (Canadian Security Administrators) Notice 21-333, which establishes the terms and conditions for crypto asset trading platforms (CTPs) dealing in stablecoins with Canadian clients. Circle is the first stablecoin issuer to meet the new Canadian listing rules under the CSA framework.

For additional information, see Circle’s website: https://www.circle.com

Risk Statement

Before entering into an agreement (a Crypto Contract) with Hibit Technology Ltd. (Hibit) to buy or sell any crypto assets through Hibit’s crypto asset trading platform (the Platform), it is important to understand the risks. This overview serves as a starting point for you to conduct your own research prior to transacting in USDC.

No Canadian securities regulatory authority has assessed or endorsed the Crypto Contract or USDC made available through the Platform, including an opinion that USDC is not itself a security and/or derivative.

Hibit has performed a legal assessment of USDC prior to making it available on the Platform and has concluded that USDC is not and is unlikely to be deemed a security or derivative. However, there is a risk that this conclusion could change in the future. If Hibit or Canadian securities regulators determine that USDC is a security and/or derivative, Hibit may be required to halt or withdraw USDC from trading on the Platform and stop any future trading of Crypto Contracts based on USDC. Clients holding USDC may be required to liquidate their positions, potentially at a significant loss. In the event that Hibit halts or withdraws USDC from trading on the Platform, clients will be notified via the Platform or other electronic means and advised of the options available to them and any applicable periods to sell or withdraw their positions in USDC.

Circle has made the following commitments as part of its CSA Undertaking:

• Circle will maintain a reserve of assets in the form of U.S. dollars and other highly liquid assets to back the total value of USDC in circulation.
• USDC holders can redeem their USDC for U.S. dollars on a 1:1 basis, subject to publicly disclosed fees and conditions.
• Circle will disclose key information related to USDC, including the quantity of outstanding units and the assets held in reserve, to ensure full transparency.
• Independent third-party auditors will provide periodic reports confirming that the reserve assets backing USDC are sufficient to meet redemption obligations.
• Circle will maintain comprehensive risk management and conflict of interest policies regarding the management of USDC’s reserve assets.

Hibit evaluated USDC based on publicly available information, including (but not limited to):

• The creation, governance, usage, and design of USDC, including its issuance, smart contract security, and compliance with financial regulations.
• The reserves backing USDC, including transparency measures for the fiat assets held in custody to support the 1:1 peg to USD.
• The supply, demand, utility, and liquidity of USDC across different blockchains and financial applications.
• Material technical risks associated with USDC, including any smart contract vulnerabilities, security risks, and systemic risks arising from its integration with third-party platforms and DeFi protocols.
• Legal and regulatory risks, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of USDC.

Like all other crypto assets, there are general risks associated with USDC, including but not limited to:

• Counterparty Risk: While USDC is designed to be fully backed, its stability depends on the issuer (Circle) maintaining reserves and meeting regulatory obligations.
• Regulatory Risk: Changes in regulations, government actions, or legal challenges could impact USDC’s usability and availability.
• Centralization Risk: Unlike decentralized cryptocurrencies, USDC is issued and controlled by a centralized entity, which has the authority to freeze, blacklist, or restrict certain wallets under regulatory compliance measures.
• Liquidity Risk: While USDC is widely adopted, liquidity in certain markets or blockchain networks may vary.
• Security Risk: Holding USDC on an exchange or wallet presents risks such as hacking, loss of private keys, or exposure to smart contract vulnerabilities.

We emphasize that this Crypto Asset Statement is not exhaustive of all risks associated with trading USDC. Investors should perform their own assessment to determine the appropriate level of risk for their personal circumstances.

Hibit is offering Crypto Contracts in reliance on a prospectus exemption contained in the exemptive relief decision Re Hibit Technology Ltd. dated September 14, 2023. Please be aware that the statutory rights of action for damages and the right of rescission, in relation to a misrepresentation, in the securities legislation of each province and territory of Canada, would not apply to a misrepresentation in this Crypto Asset Statement.

Last updated: March 13^th,2025