Exhibit 4.18


 


TRADING ACCOUNT MANAGEMENT
AGREEMENT


 


THIS TRADING ACCOUNT MANAGEMENT
AGREEMENT (“Agreement”) is made on the 23th day of
December 2021 BETWEEN Metalpha, a company incorporated in the British Virgin Islands whose registered address is situated at Kingston
Chambers, PO Box 173, Road Town, Tortola, British Virgin Islands (“Party
A”) of the one part AND Antalpha Technologies Limited, a company incorporated in British Virgin Islands whose registered
address is situated at PO Box 173,Road Town, Tortola,BVI (“Party
B”) of the other part.


 


WHEREAS Party B is a shareholder
of Party A, holding 49% ordinary shares in the share capital of Party A as at the date hereof.


 


WHEREAS Party A is the
beneficial owner of all assets and profit and loss of trading accounts specified in the First Schedule hereto (“Trading
Accounts”).


 


AND WHEREAS the parties
hereto agree that the Trading Accounts shall be registered in Party B’s name and be managed exclusively by Party A.


 


NOW THIS AGREEMENT WITNESSTH
as follows:-


 


		1.	Party B is the registered
                                            owner of the Trading Accounts and holds the Trading Accounts upon trust for Party A.



 


		2.	By
                                            entering into this Agreement, the parties hereto agree that Party A shall have full and exclusive
                                            authority to execute trades in each Trading Account. Party A shall have full discretion to
                                            order purchases and sales of crypto currencies including spot, futures contracts, options
                                            and any other available instruments under the Trading Accounts.



 


		3.	The
                                            crypto currencies and assets in and all profits of any kind generated under the Trading Accounts
                                            belong to Party A.



 


		4.	Transfer
                                            of any crypto currencies or assets of any kind out of the Trading Accounts shall only be
                                            executed in accordance with the written instructions of Party A sent through Party A’s
                                            email address set out in Clause 7 and substantially in the form of the Second Schedule (“Party
                                            A Transfer Instruction”). Party B shall execute any Party A Transfer Instructions
                                            as soon as reasonably practicable following the receipt of the same. For the avoidance of
                                            doubt, Party B shall not transfer any crypto currencies or assets of any kind out of any
                                            Trading Account otherwise than in accordance with a Party A Transfer Instruction.



 


		5.	Neither
                                            Party A nor any of its employees, officers, directors or shareholders shall be liable to
                                            Party B for any actions performed or omitted to be performed or for any loss resulting from
                                            the exercise of judgment in managing the assets of the Trading Accounts.



 


		6.	This
                                            Agreement may be terminated at any time by either party giving to the other party at least
                                            90 calendar days’ notice in writing of the intention to do so (“Termination
                                            Notice”). Upon serving of a Termination Notice by any party, Party B shall
                                            as soon as reasonably practicable transfer any and all crypto currencies or assets of any
                                            kind out of the Trading Accounts in accordance with the Party A Transfer Instruction(s).






 






    Trading Account Management Agreement


     


    

 


		7.	Any
                                            notices, instructions, consent and communication (“Communication”)
                                            under this Agreement must be in writing and sent:



 


to Party A, to it at:


 


Metalpha Limited


[address] Suit
1508.15/F. Central Plaza, 18 Harbour Road, Hong Kong


[email] niming@dvintinc.com


 


to Party B, to it at:


 


Antalpha Technologies Limited


8 Kallang Avenue, Aperia Tower 1, #04-01/02,
Singapore 339509


jing@antalpha.com


 


Such Communication will be deemed received:


 


		(A)	by local post: two business days after posting;



 


		(B)	by airmail: seven business days after posting;



 


		(C)	by hand: on delivery;



 


		(D)	by email: when the message enters the recipient’s mail
server;



 


provided however that any
Communication which is received (or deemed received in accordance with the foregoing) outside business hours or on a non-business day
in the place of receipt shall be deemed to take effect at the opening of business on the next following business day in such place.


 


		8.	Unless otherwise stated, references to “writing”
or “written” include faxes, email and any other method of reproducing words in a legible and non-transitory form.



 


		9.	The parties hereto agree that each shall treat confidentially
the terms and conditions of this Agreement and all information provided by each party to the other regarding its business and operations.
All confidential information provided by a party hereto shall be used by the other party solely for the purpose of performing this Agreement
and, except as may be required in carrying out this Agreement, shall not be disclosed to any third party without the prior consent of
such providing party. The foregoing shall not be applicable to any information that is publicly available when provided or thereafter
becomes publicly available other than through a breach of this Agreement, or that is required to be disclosed by law, listing rules or
regulatory authority or to any officers, employees, professional advisers, auditors or consultants of the parties hereto.



 


		10.	This Agreement contains the whole agreement between the parties
relating to the subject matter of this Agreement at the date of this Agreement to the exclusion of any terms implied by law which may
be excluded by contract and supersedes any previous written or oral agreement between the parties in relation to the matters dealt with
in this Agreement.



 


		11.	This Agreement shall be governed by and construed in accordance
with the laws of Hong Kong. The courts of Hong Kong are to have non-exclusive jurisdiction to settle any disputes which may arise out
of or in connection with this Agreement.



 


		12.	This Agreement may be executed in any number of counterparts
and this has the same effect as if the signatures on the counterparts were on a same copy of the Agreement.



 






    
	Trading Account Management Agreement	2	 




     


    

 


SIGNING PAGE


 


This Agreement has been entered into on
the date stated at the beginning.


 


ANTALPHA TECHNOLOGIES LIMITED


 





	/s/ Xin Jin	 
	Xin Jin	 






 


METALPHA LIMITED


 





	/s/ Ming Ni	 
	Ming Ni	 



 




    
	Trading Account Management Agreement	3	 




     


    

 


FIRST SCHEDULE


 


Trading Accounts


 


1. Binance
Trading Account [   ] mettest@antalpha.com subaccount number:211551235


 


2.





 




    
	Trading Account Management Agreement	4	 




     


    

 


SECOND SCHEDULE


 


To: [Antalpha Limited]


 


Dear Sirs,


 


We refer to the Trading
Account Management Agreement dated _____________among ourselves (“Agreement”).
Pursuant to Clause 4 of the Agreement, we hereby give you instructions to make transfer of assets out of the Trading Account (as defined
in the Agreement) with details as follows:


 


Trading Account :


 


Transferee :


 





Type and
amount of assets : 


 


Transferee account details :


 


	Metalpha Limited	 
	 	 
	 	 
	 	 
	[Name of director]	 
	 	 
	 Director	 
	 	 
	Date:	 	 



 





 


 


	Trading Account Management Agreement	5