Announcing the Ethos East Coast Summit

Join us for the first ever Ethos East Coast Summit on April 14th! The Ethos team and community will be gathering in Ethos’ birthplace – beautiful Providence, Rhode Island – for a day of ideas, discussion and networking with like-minded people passionate about Ethos, blockchain and unlocking the New Economy!

Ethos announces upcoming Genesis release of Universal Wallet for final testing

Ethos announces upcoming Genesis release of Universal Wallet for final testing

It begins. We’ve all been waiting patiently (and working feverishly!) for the Ethos Universal Wallet to see the light of day. That time is fast approaching. But like most things, we’re doing things our own way. Universal Wallet is an incredibly ambitious project – and ensuring everything is rock solid and secure is our highest priority. So, this is how it’s going to work.

First of all, we want to express our deep gratitude to the entire global Ethos family for your support, encouragement and energy. It has fuelled our growth and been an incredible source of inspiration and energy for our entire team! So, thank you all. You have and will continue to play a role in unlocking the future of finance, and we’re honoured to be serving you. It’s pretty unbelievable what we’ve built in 8 short months! If that’s not people power, we don’t know what is.

Now, it’s time to stick the landing. And we need your help. We are nearing the Genesis build of the app, and it’s beautiful. But before we send it off to hopefully be a part of changing the world, we want to make sure it goes through the rigorous testing required to ensure it meets our high standard for quality and security. To get its feet wet. To warm up. To get even better.

So, the Ethos Universal Wallet release rollout story starts like this.

In the coming week, the app will be go into limited release to some Ethos community members and Pre-Registered users who will be part of our final polish and testing process – so we can make sure the Ethos Universal Wallet is as seamless and flawless as possible when it hits your pockets. This group will include:

  • Ethos Product Council members. They’ve been involved since the beginning and their feedback has been critical to building the app.
  • Top 100 Token Sale Contributors. Their support since day one has helped make this journey possible.
  • A randomly selected group of Pre-Registered community members. There are thousands upon thousands of you, and we love you all! A whole bunch of you are going to receive invites to join our Product Council and be part of the Genesis release. You’ll also need to be an ETHOS token holder to participate. So if you’re on the list, watch out for an invite! And if you’re not already pre-registered, get yourself on the list by clicking here!

Our Genesis release users will be an integral part of making sure the Ethos Universal Wallet is battle-tested and ready for the instant global scale that awaits upon wide release. Genesis release users will also be rewarded for their efforts in finding any bugs or issues we haven’t already worked out – just another way for people power to play a role in building a financial ecosystem that is open, safe and fair for everybody.

You ready? We are.
Let’s go.

Team Ethos

Vishal Karir joins Ethos as Chief Investment Officer from BlackRock

Ethos is beyond excited to welcome Vishal Karir as its Chief Investment Officer. He is backed by over 17 years of investment and technology experience at Morgan Stanley and most recently BlackRock, where he had $1.5 billion in assets under his management. Vishal will lead our efforts to bring innovative portfolios for the exciting new crypto asset class to the masses, as well as lead the development of our innovative hybrid investing solutions, helping Ethos to continue bridging the gap between digital and traditional finance.

“The paradigms of finance and investing are shifting in favor of individual investors and entrepreneurs – I am thrilled I have a part in expediting the shift,” said Karir of his decision to make the move from BlackRock to Ethos.

Ethos’ mission is to build a financial ecosystem that is open, safe and fair for everybody. The Ethos Universal Wallet allows users to safely and securely store, send and receive a broad range of digital currencies on their mobile device with the same level of sophisticated security often reserved for expensive hardware wallets – available soon as a free app download this Spring. It also gives users the ability to track assets stored elsewhere, giving users a complete digital portfolio management experience in one app, and a host of other features designed to make cryptocurrencies more accessible and foster mass adoption.

While the Universal Wallet is the first step in its mission, Ethos is already hard at work on its project Fiat Gateway – a hybridized investment solution that will make investing in both cryptocurrencies and traditional assets seamless and accessible, integrated with Universal Wallet which empowers user with full custody and control of their digital assets.

“With the entrance of Vishal, Ethos and eventually our Fiat Gateway project are uniquely positioned within the industry to bring the sophisticated investment tools of the traditional economy to a new digital asset class,” said Ethos CEO, Shingo Lavine.

“Today Ethos takes a giant leap forward with the addition of Vishal to the Ethos Family. Vishal’s wealth and breadth of investment knowledge will enable Ethos to deliver institutional quality investment models accessible to all individuals, that up until now, were only accessible by a select few,” added Ethos’ Chief Global Strategist, Stephen Corliss.

The arrival of Karir truly reinforces the Ethos mandate to provide robust, meaningful best-in-class investment advice and financial planning to help unlock the New Economy for everyone.

For more on Vishal’s background, check out his bio here.

Building Ethos Fiat Gateway

Part I of our Strategy Series with Ethos Chief Global Strategist, Stephen Corliss

As Ethos moves closer to release of our platform, we felt it was important to provide further clarity around our transformational structure and how this enables Ethos to deliver a new financial ecosystem that links the old and new economies.

To better assist our user community, partners and other interested parties in understanding the direction of the company, the following will provide all of you with essential background as to where we’ve been, where we’re going and why we’re taking the actions we will take.

Ideation of new concepts and structures is an area where the entire Ethos team excels. The fact that our team brings together minds from multiple sectors across traditional finance, blockchain and cryptocurrencies, tech, engineering, design and brand experience is not an accident. This skillset was established as a high watermark for the entire organization when the 79 defining words in the Ethos Vision were determined.

The future is for everyone.
Ethos is a people-powered cryptocurrency platform.

Unlock the future of investment. Empower the world. Our mission is to make the daunting cryptocurrency market accessible to everyone, accelerate adoption of blockchain technology and democratize ownership of cryptocurrencies. Ethos harnesses the power of design, technology and social intelligence to create a breakthrough solution that will enable everyone to participate in the New Economy.

We’re putting the power back in the hands of the people — where it belongs.

Clearly our goals and values are lofty but we believe the challenge is not in understanding the meaning of the mission statement but rather how Ethos will make this vision viable and sustainable for future generations. The first step in finding a sustainable solution, in my view, was to extrapolate the most critical elements of these 79 powerful words into just one simple phrase, “We’re putting the power back in the hands of the people”. This phrase is packed with countless meanings, but to achieve this essential objective we needed to immediately decipher all of the different elements involved in order to determine what was most common and critical. At the end of the day, it was clear that we could not achieve our objective without enabling a robust “Fiat Gateway”.

Why a Fiat Gateway? Because most transactions related to Finance and / or Investment can only be concluded by some form of payment. Furthermore, because we are solving problems for consumers, it was clear any solution would also have to involve a monetary unit that was highly fungible in order for Ethos to provide consumers with highly liquid solutions to ensure users could access their funds at a moments notice. However, because current fiat options are expensive and restrictive, we knew that a pure fiat solution by itself would not be sufficient. So we quickly concluded that the best way to optimize our solution would be to also leverage cryptocurrency technology and digital representations of value.

Once we understood that an optimal solution needed to involve a robust fiat and cryptocurrency hybrid solution — one that ensures a frictionless, seamless and cost effective entry and exit-strategy for global users — we immediately noticed that this solution was powerful not just for consumers’ cryptocurrency activities, but also for their traditional assets and investments. This was an important revelation. A hybrid asset solution allows us to build a transformational platform that encompasses both the new AND old economies, while also enabling consumers to manage all of their financial assets and activities through a unified solution and platform. Unification provides consumers with dynamic features including access to debit and credit cards, checking and investment accounts, seamless wireless payment solutions integrated with your mobile phone and popular mobile wallets, and even mobile wealth management.

With this hybrid solution now in hand, it was also clear that the current problems faced by most of our industry peers was not a lack of good technology solutions, but rather a lack of vibrant legal structures that typically relied on lower level restrictive financial authorizations, specifically money transmission licenses. Whether this was driven by a desire to limit operational or financial strains caused by regulation and compliance is not clear, however, it was clear that these decisions were negatively impacting the consumer experience through higher fees or cumbersome operational processes.

With the above fact pattern, it was immediately apparent to us that the best way to ensure the long term viability and sustainability of our industry and the Ethos Platform while also offering consumers a superior experience, was to embrace financial regulation and deliver a superior legal model upon which to build a universally compliant Multi-Sided Hybrid Investment Platform– without sacrificing the many powerful benefits of distributed ledger technology. Ethos is delivering a next generation crypto platform that embraces regulations and compliance, not runs away from it, without sacrificing consumer protection, and with human-centred design at its heart.

Over the coming days and weeks we’ll be sharing more about the many initiatives we are pushing forward as part of our unique approach to building the Ethos Fiat Gateway. As you take in these numerous press releases, articles and general announcements we believe the information shared today will help you better understand what we are doing to “Put The Power Back In The Hands Of The People”!

Thank you

Stephen Corliss
Chief Global Strategist 


An Open Letter to the Community From Shingo Lavine

This is an open letter to all who have been involved in our project thus far. I want to sincerely thank each and every one of you for being a part of our community - your support and enthusiasm has really made this project a reality. The community we have all built together is really unlike any other in the crypto space, and will be compelling to newcomers as our project expands and grows. We have come a long way since the inception of this project and the release of this article marks a big day for us.



The cryptocurrency market is scary and bewildering, especially to new users. Just the other day I had a conversation with someone who knew what Bitcoin was, but was largely unfamiliar with the cryptocurrency industry. The first question she asked was “Is Bitcoin Illegal?”

While this question may seem surprising to those of us who interact with digital currencies on a daily basis, that question is indicative of what outsiders see in this industry. They see Bitcoin as a tool for criminals, and cryptocurrencies as unsafe and dangerous to interact with. If people are going to put their money into something, they don’t want to worry that it may disappear.

In my article “Building a Better Story” ( I talked about a big problem that the crypto industry as a whole faces. For better or for worse, Bitcoin has been the face of the crypto industry which means we get all the benefits of a widely recognized brand, but also all the baggage that comes along with it. This presents a very challenging, but exciting, opportunity for us. A platform for mass adoption needs to be accessible, friendly and safe.

Enter Ethos.

Making Crypto Accessible to All

We all know there is something big happening right now. Even more exciting is that we are at the ground floor of a huge shift that will define how the world looks and operates for generations to come. Yet, a majority of people are still unaware or mystified by the hotbed of innovation that is happening in the crypto industry right now. A huge part of our mission is opening up the possibilities of crypto technology to the wider world and helping consumers, businesses and developers interact with these new tools to build a brighter future.

Core Ethos Values: Security, Safety, Trust, Knowledge & Community


It is very important for brands to stand for something. At the core of Ethos, we believe that some of these values are:


  • Security: It is absolutely imperative that Security permeates everything we do.  The cryptocurrency ecosystem is riddled with scams and hackers, making it extremely risky and daunting to new users. By building Ethos from the ground-up to be super-secure and consumer-controlled, we will inspire confidence in the user and build a trusted brand.
  • Safety: While similar to Security, Safety is about making sure users can avoid mistakes and interact in a secure environment. For example, if you send money to the wrong address or forget a private key, that money can be gone forever. While we can’t eliminate all of the safety issues in crypto, we can build a smart service that tilts the odds in favor of consumer protection.
  • Trust: Ethos was built on the trust that early token participants had in our vision and our capacity to build a platform for mass adoption. As we grow, users will show even more trust by using our products. We will need to trust (and verify) our users.  Operating in a transparent and ethical fashion will build that trust. Part of this is implementing cutting edge anti-money laundering (AML) and “Know Your Customer” (KYC) technology in the right parts of the solution, and inspiring confidence - and trust - in consumers, businesses, developers and regulators.
  • Knowledge: Our founder, team and community are deeply knowledgeable in the cryptocurrency market. We understand the relative technical strength of various cryptocurrency offerings, economics, finance, fundamentals and risk profiles. We hope to foster financial literacy both inside and out of the blockchain industry. By sharing knowledge widely and empowering experts to teach newbies, we empower people - regardless of whether they use the Ethos platform or not.  Education, learning and knowledge sharing is core to the Ethos brand.
  • Community: Community is at the core of Ethos, and can continue to be a strength as we grow.  By having brand advocates, people who believe in our mission and want to be part of it, we multiply the power and reach of Ethos thousands of times over. We are all working towards the same mission and share in the success of the Ethos vision. Every person who joins our community makes us stronger and shows the world that cryptocurrency is real and here to stay.



A New Beginning

We are excited to embark on this journey.  We anticipate many challenges, but also many rewards for Ethos and our community. To read more about our products and services, visit or read our whitepaper.

Thank you for reading, and we hope you join us in our mission to make the world a better place with the power and freedom of cryptocurrency.


Why Ethos?

From Bitquence to Ethos

Very exciting times for us here at Ethos! We have officially completed our rebrand from Bitquence to Ethos. I know many of you may have been attached to the Bitquence brand, but we believe that we need a brand that is ready to tackle mass markets - a brand that is ready to change the world.


What Does Ethos Mean?

In Aristotle’s model of persuasion, there are three components - Logos, Pathos and Ethos.

Logos is an appeal to logic. An example of this would be “Cryptocurrencies allow you to transact cheaply and quickly anywhere in the world.”

Pathos is an appeal to emotion. An example of this would be “Financial institutions never really cared about the average person, it is time to make a change!”

Ethos is an appeal to ethics and credibility. An example of this would be “As someone who has experienced both the old and new economy, I can assure you that cryptocurrencies will improve the lives of people everywhere.”

Ethos is about more than just that though - It is about fulfilling our obligation to improve the financial system and make the world more equal for all. The logical and emotional benefits of cryptocurrencies have largely been communicated well by people within the industry.

“Bitcoin is cheap and allows you to transact instantly without intermediaries.”

“You should use Bitcoin so that the banks aren’t controlling your money.”

But, despite that, the industry is plagued with ethical criticism. We hear things such as:

“Bitcoin and cryptocurrencies are just tools for criminals and darknet markets!”

“Bitcoin needs to be regulated so that it can’t be used for money laundering!”

“Why should I trust my money with a bunch of hackers?”

Ethos is about bringing Ethics into the cryptocurrency world. Ethos is about unlocking the future of finance and empowering the world. Ethos is about building a people-powered cryptocurrency platform - for everyone. Ethos is about investing in our future together.

Whether or not someone, or something, has ethos, however, is in the hands of the community - in you. We believe we have an obligation to make the world better and that it isn’t just good enough to trust that those in power will act ethically. We believe that financial tools aren’t just for the 1%, but for everyone and that cryptocurrencies have the power to unlock these benefits and democratize finance. These are beliefs that we hold, but also beliefs that we need to share with others especially as adoption grows.


Why is Ethos Important?

The Ethos brand will be making the cryptocurrency industry far harder to criticize. When we see media and financial institutions criticizing Bitcoin, it’s easy. Regulation has been largely reactionary and governments and politicians genuinely believe that they are stopping terrorists and protecting consumers when in reality they are on a path to stifle one of the greatest revolutions the world has ever seen. To criticize Ethos, however, is much more difficult. With Ethos they are attacking positive values rather than negative ones. They are attacking ideas like community, solidarity, financial empowerment, ethics, integrity and transparency. Much more difficult.

It is important that we aren’t just different now, but that we also stay different as we grow. Ethos is branding itself in this way not only to be ethical and challenge the system now, but to stay ethical as we grow and to truly embody the name.

The Ethos Manifesto

The Ethos Manifesto

To build a bridge

To establish a marketplace

To bring together people and knowledge

To unite old and new

Trust yourself

Don’t be satisfied with what is

Imagine what can be

Control your wealth, and your destiny

The future is for everyone

We are Ethos.

Ethos welcomes Kevin Dean Pettit

Our new Product Manager Kevin Dean Pettit has a brilliant background in product design and development, and he's hopped in to quickly streamline our development process, oversee the incorporation of all of the great feedback we've received from our Product Council, and help refine our vision for our product experience and ecosystem.

In addition to being an avid crypto investor, Kevin built his expertise as product manager with a successful track record of launching and improving financial systems at a Fortune 50 company. His keen ability to uncover business value has been used to optimize multi-billion dollar investment portfolios, for trade floor and pricing desk analytics, in determining exit strategy and for payment processing. Kevin has extensive experience building high performance agile teams and organizing and leading new products from idea through execution.

Shingo has assembled an impressive team focused on leading us into the New Economy. I'm excited to help bring great products to market that will bridge the gap, making crypto more accessible to everyday people, and more.

We're excited to be building the future of finance with Kevin!

Tim Simmons joins Ethos

We're excited to welcome Tim Simmons to the ETHOS family. Tim is leading our talented team of developers and engineers as we build the future of finance – drawing on his deep experience bringing ambitious projects to life at a global scale.

Tim is a seasoned product and technology leader with decades of experience developing innovative products at companies such as Citrix, Zscaler, and Roper Technologies. He holds multiple patents in the area of information security and mobility, and is passionate about cryptocurrency investing and blockchain development.

"I'm thrilled to be part of such a talented and passionate team. It's not often in your career that you get to work on projects that have the revolutionary potential that Ethos does."

Welcome Tim. The feeling is mutual!

Our Views On Recent Regulatory Events

Hello Everyone,

Over the last few months our industry has heard from Regulators in Singapore, United States. South Korea and China with regards to Initial Coin Offerings and Token transactions facilitated by Coin / CCY Exchangers. In our view, much of this rush to judgement has very little to do with legitimate Functional Tokens (like Ethos) and more to do with those firms in our industry who unknowingly offer Tokenized Securities, which promise ownership rights, and those individuals or firms involved in outright fraudulent activities.

Unless our industry can find a way to cleanse our eco-system of these bad actors and increase our overall commitment to consumer protection, I’m afraid the end result will only be a significant increase in the velocity of regulator opinions. As an industry with significant potential, it is absolutely essential that we get our act together and begin to remove scammers from our eco-system immediately while also clearly distinguishing Functional Tokens from Tokenized Securities by developing an industry wide template for the future issuance of pure Functional Tokens. Unless we begin to take these necessary steps, together, the risks of rules being thrust upon our industry will grow ever larger with every passing day. To avoid this end, Ethos has fully committed itself to doing whatever is necessary to ensure the long term sustainability of this industry.



Back to more specific recent events. As most of you know by now, the Chinese Government issued a policy statement on Monday banning local companies from offering ICO’s onshore. However, what most people overlooked, a day earlier the South Korean Government showed the clearest posture to date by a report that stated the local government has every intention of regulating cryptocurrencies, which will most likely occur sooner rather than later. These are all the very reasons why we adopted our strategy to design the Ethos Platform with the full understanding that our industry will be heavily regulated. I know global users in the space may not like the idea of regulations within our global eco-system but we need to accept this reality as it is indicative of the serious and powerful potential of our industry. Regulations just mean that we are moving to the big stage, it’s “Prime Time”!  

Considering all of the above, let us breakdown China’s most recent Crypto Policy Stance (Please see our interpreted translation of their actual announcement at the end of this blog). Before we begin, let us all be reminded that government opinions such as these should not come as a surprise to any firm in this space who has done proper planning and developed comprehensive strategic plans. We at Ethos were not caught off-guard by any of this for this very reason.

Our Translation of their Announcement: (Both systematic and human translation tools)

The recent public issuance of token financing activities, including those initial tokens (ICO), has increased in large numbers where these highly speculative activities may involve companies suspected of engaging in illegal financial activities, which could seriously disrupt the economic and financial order. In accordance with the Law of the People's Bank of China, the Commercial Bank Law of the People's Republic of China, the Securities Law of the People's Republic of China, the People's Republic of China, the People's Republic of China, the People's Republic of China, the People's Republic of China, the People's Republic of China, the People's Republic of China, the People's Republic of China, the People's Republic of China, the People's Republic of China, The Republic of China Network Security Law, the People's Republic of China Telecommunications Ordinance, and other laws and regulations, the relevant matters involving illegal financial institutions and illegal financial business activities are as follows:

  1. Accurate understanding of the essential attributes of tokens financing activities

Token Offering financing refers to financing via illegal sale and circulation of tokens, and raising funds from investors in the form of Bitcoin, Ethereum and other so-called "virtual currency".  This activity is essentially a non-approved illegal public financing method, suspected of illegal sale of Tokens, illegal issuance of securities, illegal fund-raising, financial fraud, pyramid schemes and other criminal activities. The relevant departments will closely monitor the situation, strengthen cooperation with the judicial departments and local governments, in accordance with the existing working mechanism, strict law enforcement, resolutely control the market chaos. Any discovered suspected criminal problems should be transferred to the judiciary.

The tokens or "virtual currency" used in Token Offering are not issued by the monetary authorities, do not have legal and monetary properties such as indemnity and coercion, do not have legal status equivalent to currency, and can not and should not be circulated as money in the market.

  1. No organization or individual may engage in unauthorized Token Offering financing activities

As of the date of this announcement, all types of Token Offering financing activities shall cease immediately.  Organizations and individuals who have completed the financing of the tokens should make arrangements for repatriation, reasonably protect the interests of investors and properly handle the risks. The relevant departments will seriously investigate and deal with non-discontinuation of tokens sale financing activities and illegal activities related to already completed token offering financing.

  1. Strengthen the management of tokens and financing trading platform

As at the date of this announcement, any so-called token financing and trading platform may not engage in the business of exchanging legal currency with tokens and "virtual currency"; may not buy, sell, or act as intermediary for buying and selling of tokens or "virtual currency"; may not engage in the service of providing pricing and information of tokens or "virtual currency".

For the existing illegal token offering financing trading platform, the financial management department will be refer the companies to the telecommunications authorities in accordance with the law to close their website platform and mobile APP, to the internet authorities to the delist and remove their mobile APP from app stores, and to the business administration authorities to revoke their business licenses.

  1. Financial institutions and non-bank payment institutions shall not carry out business related to tokens financing transactions

Financial institutions and non-bank payment agencies may not directly or indirectly provide products or services related to token financing transactions involving "virtual currency" including account opening, registration, trading, liquidation, settlement and other products or services, as activities involving tokens and "virtual currency" shall not be covered within the scope of their insurance liability. Financial institutions and non-bank payment agencies should promptly report to the relevant departments if they suspect the illegal issuance of financing transactions involving virtual currency.

  1. The public should be highly alert to the risk of currency issuance financing and trading risks

There are multiple risks in the issuance of coins and transactions, including false asset risk, risk of business failure, and risk of investment speculation. Investors are required to bear the risk of investment. We hope that the majority of investors will not be deceived. Due to the use of "currency" of the various types for illegal financial activities, the public should strengthen their ability to recognize illegal activities and increase their awareness of risk and timely reporting relevant activities they may suspect to be illegal.

  1. Give full play to the role of industry organizations self-discipline

All financial industry organizations should carefully interpret policy, and urge their members to consciously resist illegal financing activities related to the issuance of virtual currency for financing transactions, and strengthen investor education to protect against market chaos and jointly maintain the normal financial order.

Making Sense of the Ban

First, what does this policy stance cover? It covers only China based firms wishing to launch, or previously launched,ICO's occurring in country (Not anything offshore) AND China based Trading Platforms who facilitate the exchange of tokens or "convert" tokens with fiat whenever any of these activities involve China Residents (Not anything offshore).

Second, what does this mean? This means China based ICO's involving China resident participants are on hold for the foreseeable future. It is not entirely clear to us if China based ICO's can, however, be offered offshore to non-China residents. China based Trading Platforms can continue to facilitate trading of tokens and virtual currencies for offshore customers but cannot facilitate trading of tokens or convert tokens directly with fiat in country / onshore for China Residents unless it is part of the repatriation process related to previous token sales.This last point is a bit at odds with itself as allowing offshore exchanging by locally based Exchangers conflicts with the overall reasons for China Regulators to act so I think this point should not be overlooked as further clarity is needed.

Third, in our view this policy action is driven by several key factors including consumer fraud and illegal securities issuance but more importantly to ensure these activities do not skirt China’s Foreign Direct Investment (FDI), Outbound Direct Investment (ODI) Schemes and other capital outflow mechanisms such as its Qualified Domestic Limited Partnership (QDLP) or Qualified Domestic Institutional Investor (QDII) programs, which are all considered by the Government to be necessary tools for protecting the overall soundness of their capital market system.

However, as Token Sales involving the issuance of pure "Functional Tokens", rather than Tokenized Securities, clearly do NOT involve foreign ownership concerns I believe local firms in China will be able to offer legitimate Token Sales once the dust has settled. Additionally, I also believe foreign based Token Sales involving pure Functional Tokens offered to China residents will also be possible at some point in the near future. Although, for both of these things to happen, China will first need to revisit all of its inbound / outbound capital flow policies and securities laws to ensure virtual currency based financing activities do not go unchecked. This will surely take some time but they are inevitable in our view as China has been investing significant amounts of public capital in Blockchain and Smart Contract Technologies and it is highly unlikely that cryptocurrencies will not be a part of their eco-system going forward.

From Ethos' perspective, none of these actions impact our business, past or present. As many of you know, we’re able to limit disruption to our business model as we made a conscious decision early on to build our platform based on the critical assumption that existing securities / investment related laws will apply to crypto businesses. This was a critical decision for us as it allows us to limit all current and future disruption to our business. Thus, we continue unabated in our development efforts.

Lastly, we do want to make one very important point. All of the steps taken by local regulators are or will be premised on protecting consumers. Ethos embraces these changes for these very reasons, as we also share the commitment to protect global consumers. As such, we are fully committed to collaborating with regulators in any jurisdiction who seek to better understand our industry.

Thank you.