Diginex Ltd (EQOS US)

Year: 2021

Diginex is engaged in the provision of digital asset financial services and advisory, such as a cryptocurrency exchange, trading platform, custodian and asset management. The company listed on the NASDAQ in October 2020 via a reverse merger. In April 2021, short-seller Iceberg Research published a report questioning Diginex’s strategy, miniscule revenues, dubious history of transactions and high cash burn. The company's share price has lost more than 90% of its value since the report's publication but this is similar to peers. The decline more likely relates to falling Bitcoin prices and rising energy costs than to anything specific within Iceberg's report. No allegations of fraudulent accounting were made. 

Last updated July 2022.

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