Ebang International Issues Open Letter to Shareholders - Seite 4

5. We did not artificially inflate the trading volume of Ebonex.

We have noticed the extraordinary trading volume displayed on Ebonex, which is not representative of its actual trading volume as a newly launched cryptocurrency exchange. After an investigation, we confirmed that such displayed trading volume was not correct due to a software glitch in the backend of the Ebonex platform. Our developers and engineers are working diligently to provide a correct display of trading volume on Ebonex.

To our knowledge, both CoinMarketCap and FTX are independent agencies, and it typically takes several months to collect and analyze trading data before they can list a new cryptocurrency exchange on their websites. As Ebonex was only launched on April 5, 2021, its trading metrics have not been quoted on crypto exchange trackers on CoinMarketCap or FTX.

Dear shareholders, we always appreciate your support and our team will continue to work hard to achieve a successful 2021 for you.

Yours, sincerely,

Dong Hu
CEO and Chairman

About Ebang International Holdings Inc.

Ebang International Holdings Inc. is a blockchain technology company with strong application-specific integrated circuit (ASIC) chip design capability. With years of industry experience and expertise in ASIC chip design, it has become a leading bitcoin mining machine producer in the global market with steady access to wafer foundry capacity. With its licensed or registered entities in various jurisdictions, the Company seeks to launch a professional, convenient and innovative digital asset financial service platform to expand into the upstream and the downstream of blockchain and cryptocurrency industry value chain. For more information, please visit https://ir.ebang.com.cn/.

Forward-Looking Statements

This letter contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. T Certain statements contained herein and in our investor conference call related to these results are “forward-looking” statements within the meaning of the applicable securities laws and regulations. Generally, these statements can be identified by the use of words such as “aim,” “anticipate,” “believe,” “commit,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “outlook,” “plan,” “potential,” “predict,” “project,” “remain,” “should,” “will,” “would,” and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Such statements are not historical facts, and are based upon the Company’s current beliefs, plans and expectations, and the current market and operating conditions. Forward-looking statements involve inherent known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance and achievements to differ materially from those contained in any forward-looking statement. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. These forward-looking statements are made only as of the date indicated, and the Company undertakes no obligation to update or revise the information contained in any forward-looking statements as a result of new information, future events or otherwise, except as required under applicable law.