Blake Cassidy, CEO of Australian micro-investment app Bamboo, has claimed that the Australian Securities Exchange’s (ASX) bias against listing crypto companies is causing an brain drain leading firms to seek out a US listing.

Cassidy’s comments come in the same week the company announced a $3 million ($4M AUD) Series A investment round including participation from Australia’s largest cryptocurrency hedge fund, Orthogonal Trading, Mountain Ash Investment Management, and VP Capital.