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3 GLOBAL CRYPTOASSET BENCHMARKING STUDY

Apolline Blandin, Dr. Gina Pieters, Yue Wu, Thomas Eisermann, Anton Dek, Sean Taylor, Damaris NjokiSeptember 20203RD GLOBAL CRYPTOASSET BENCHMARKING STUDY supported byDisclaimer: Data for this report has been gathered primarily from online surveys. While every reasonable effort has been made to verify the accuracy of the data collected, the research team cannot exclude potential errors and omissions. This report should not be considered to provide legal or investment advice. Opinions expressed in this report reflect those of the authors and not necessarily those of their respective OF CONTENTSFOREWORDS ..4 RESEARCH TEAM ..6 ACKNOWLEDGEMENTS ..7 EXECUTIVE SUMMARY ..11 METHODOLOGY ..14 SECTION 1: INDUSTRY GROWTH INDICATORS ..17 Employment figures.

Benchmarking Study seeks to shed light on the market dynamics of the cryptoasset industry since late 2018. The report collates data from entities operating in four main segments of the industry: exchange, payments, custody, and mining. A total of 280 entities from over 50 countries across various regions responded to the surveys. This

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