Common use of Authorization to Fund Cryptocurrency Transactions Clause in Contracts

Authorization to Fund Cryptocurrency Transactions. You understand and acknowledge that when you submit an Order to purchase cryptocurrency through the Platform, you are authorizing and instructing Zero Hash to instruct the institution with which you custody your fiat funds pursuant to your Cryptocurrency Platform Agreement (or in the case of Business, its banking partner) (“Custody Firm”) to transfer the funds required to fill the Order from your Business Account to Zero Hash. You understand and acknowledge that your Account is provided by Zero Hash and is separate from your Business Account. You further understand and acknowledge that neither Zero Hash nor ZHLS are under the control of Business or Custody Firm. You further understand and acknowledge that your Zero Hash Account is outside of Business’s possession and control, and that Business does not have the ability to monitor or recall the funds after such funds have been wired or transferred to Zero Hash. You further understand and acknowledge that, upon transfer from your Business Account or any other account where you hold fiat funds, the fiat funds will not be provided protection under the Securities Investor Protection Corporation (“SIPC”), nor will they be provided protection under the Federal Deposit Insurance Corporation (“FDIC”). NEITHER ZERO HASH OR ANY OF ITS AFFILIATES ARE FDIC-INSURED BANKS OR SIPC-MEMBER BROKERAGE FIRMS. ACCORDINGLY, YOUR CRYPTOCURRENCY ALSO IS NOT PROTECTED UNDER THE SIPC OR THE FDIC AND MAY LOSE VALUE. FIAT FUNDS HELD BY ZERO HASH ON YOUR BEHALF WILL BE HELD AT CUSTOMERS BANK, BMO XXXXXX BANK N.A., OR LEAD BANK, EACH OF WHICH IS AN FDIC-INSURED BANK. You understand and acknowledge that cryptocurrencies in your Zero Hash Account are not held at Business or Custody Firm and that Business and Custody Firm only take instructions regarding transferring funds as described in the mandatory Cryptocurrency Platform Agreement (if applicable).