Coinsquare Capital Markets Inc. (“Bitbuy”) is offering crypto contracts to purchase and sell ApeCoin in reliance on a prospectus exemption granted by the Canadian Securities Administrators (CSA) in the exemptive relief decision dated October 12, 2022. The statutory rights of action for damages and the right of rescission in section 130.1 of the Securities Act (Ontario) and similar legislation in the other CSA jurisdictions do not apply in respect of a misrepresentation in this statement to the extent that a crypto contract is distributed under the above-noted prospectus relief.
No securities regulatory authority in Canada or any other jurisdiction has expressed an opinion about any of the crypto assets (or crypto contracts) that are available through Bitbuy’s platform, including an opinion that the crypto assets are not themselves securities and/or derivatives.
Bitbuy has compiled the information contained in this Crypto Asset Statement to the best of its ability based on publicly available information.
ApeCoin is the utility and governance token for the APE ecosystem, an established decentralized community centered on the Bored Ape Yacht Club (BAYC) brand and its expanding digital infrastructure. ApeCoin’s primary function is to empower the community to propose and vote on projects within the ecosystem across gaming, commerce, and digital culture via the ApeCoin DAO. While originally launched as an ERC-20 token in 2022, ApeCoin now serves as the native gas token for ApeChain—a dedicated blockchain network launched in late 2024 to support high-performance applications—and remains the primary mechanism for the deployment of the ApeCoin DAO Ecosystem Fund.
As with all assets, investing in ApeCoin is not without some general risks. Many of these risks are identified and explained in our Risk Statement.
The relevant sections in the Risk Statement are as follows:
Platform Risk, Short History Risk, Price Volatility, Potential Decrease in Global Demand for Digital Assets, Potential for Illiquid Markets, Transfers of Digital Assets are Irreversible, Concentration Risks, Uncertainty in Regulation, Financial Institutions May Refuse to Support Transactions Involving Digital Assets, Digital Assets’ Blockchain May Temporarily or Permanently Fork and/or Split, Cyber-Security Risk, Airdrops, Issues with Cryptography Underlying Digital Asset Networks, Internet Risk, Open Loop System, Risk if Entity Gains a 51% Share of Digital Asset Network, Possible Increase in Transaction Fees, Possible Increase in Service Fees, Limited Canadian Investor Protection Fund Account, No Voting Rights, Custody of Digital Assets, Custody Risk Insurance, Threats to Bitbuy’s Physical Assets, Covid-19 Outbreak, Use of Leverage, Halting, Suspending, and Discontinuing Digital Assets.
In addition to the general risks, we outline some risks that are specific to ApeCoin below. While we make an effort to identify every source of risk, we encourage you to do your own research and ensure you are comfortable investing in ApeCoin.
ApeCoin serves as the governance token for the ApeCoin DAO and maintains a close strategic association with Yuga Labs, the creators of BAYC, MAYC, and BAKC. Since its 2022 launch, the "Ape ecosystem" has transitioned from a conceptual framework into a functional suite of products, most notably the "Otherside" metaverse and the ApeChain network. While the ecosystem continues to evolve through iterative development and the integration of third-party projects, ApeCoin’s utility has expanded from governance to its role as the primary currency and gas token within these operational platforms.
The distribution of ApeCoin was fixed at launch, with 47% allocated to the DAO treasury, 15% to Yuga Labs, and 8% to its founders. As of 2026, the initial 36-month vesting and lock-up periods for Yuga Labs and the founders have concluded, resulting in a significantly higher percentage of the total supply being in active circulation. Investors should evaluate the current circulating supply and the potential for market volatility as these previously restricted tokens are integrated into the secondary market.
While ApeCoin was originally issued as an ERC-20 token on the Ethereum network and maintains its core contract there, the ecosystem now relies heavily on ApeChain, a dedicated blockchain infrastructure. Consequently, ApeCoin is subject to the technical risks and stability of both the Ethereum mainnet and the ApeChain network. Any fundamental issues, security vulnerabilities, or disruptions in either network—or in the bridging mechanisms connecting them—may negatively impact APE’s functionality, smart contract integrity, or market value.
To be made available for trading on Bitbuy’s platform, a digital asset must pass the following due diligence reviews:
Bitbuy undertakes these three levels of due diligence in order to determine whether the digital asset is compliant with our legal and regulatory obligations, is secure, and has historical data supporting a beneficial business case. Bitbuy’s New Product Committee must provide final approval for a new digital asset to be made available on the platform.
Last updated: January 28, 2026
