Crypto 1 Acquisition ^{Priced, Nasdaq: DAOOU}

We are a blank check company. While we may pursue an initial business combination opportunity in any business, industry, sector or geographic region, we intend to focus on the acquisition of a significant digital assets and cryptocurrency exchange, payment system and/or related financial services company, including wallets, lending and decentralized finance (“DeFi”). A significant number of cryptocurrency exchanges are located in Asia (such as Korea, Japan, Singapore and the Philippines), Europe, North America and Latin America. We will not pursue targets that are incorporated or organized in China or Hong Kong. The cryptocurrency market is valued between USD 1.8 and 2.8 trillion dollars as of November 2021. The exchanges and financial processors are the biggest winners in this space by earning revenue from deposit and withdrawal fees, as well as sales of cryptocurrencies. The top five exchanges had a combined revenue of USD 2.2 billion in 2019 and an average operating margin of 32%. APAC is home to most of the top 50 crypto exchanges and a majority of the largest cryptocurrency unicorns. Additionally, APAC trades the most volume. We believe the Asia-Pacific cryptocurrency markets are predicted to grow at significant cumulative aggregate growth rates from 2021 to 2026. In addition to APAC, we believe Europe (in particular, Switzerland and Germany) and Latin America are important markets given a large number of cryptocurrency users are located in those regions.