Coinsquare Capital Markets Ltd. (“Bitbuy”) is offering crypto contracts to purchase and Shiba Inu (SHIB) in reliance on a prospectus exemption granted by the Canadian Securities Administrators (CSA) in the amended and restated exemptive relief decision dated October 11, 2024. 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.
About Shiba Inu
Shiba Inu was founded by an anonymous person or collective named Ryoshi in August 2020. One of its unique qualities include having an intentionally abundant supply (1 quadrillion) to justify a low price per unit and high circulation. Historically, one of the most prominent uses of this Ethereum-backed meme token contender to Dogecoin was for India’s Covid-relief fund. From the 50% that Ryoshi handed over to Ethereum co-founder Vitalik Buterin, SHIB was utilized for the largest crypto donation in history. Buterin then proceeded to burn 40% of its total supply to a dead wallet, ensuring Shiba Inu’s long-term success and stability. Since its inception, the Shiba Inu Ecosystem has evolved significantly and now includes the ShibaSwap DEX, LEASH (a store-of-value token), BONE (the governance and gas token), and Shibarium, a Layer-2 blockchain solution designed to enhance scalability and reduce transaction costs.
Risks
As with all assets, investing in Shiba Inu is not without some general risks. Many of these risks are identified and explained in our Risk Statement. In addition to the general risks, we outline some risks that are specific to Shiba Inu 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 Shiba Inu.
SHIB reliance on the Ethereum Network
As SHIB is an ERC-20 token on the Ethereum network, it is highly dependent on the continued stability of that network. Any fundamental issues in the Ethereum network may impact SHIB’s smart contract or token value. Investors should consider this dependency when evaluating Shiba Inu.2
Shiba Inu as a Memecoin
Shiba Inu is one of many digital assets that could be classified as a memecoin. Memecoins follow internet trends and are susceptible to volatility influenced by social media activity, online jokes, and adoption or comments by celebrities or public figures. In October 2021, Shiba Inu saw a very fast and very significant increase in its market capitalization as its meme status grew. However, as with typical internet memes, trends may be fleeting and those steep increases could level off very quickly as meme-followers lose interest.3
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: March 24, 2026
