Op-Eds Research, commentary, and thematic analysis from CKC Fund across digital assets, markets, and emerging infrastructure. Applying the Pareto Principle Mid-Monthly Thought Piece [April 2024] The Pareto Principle, a pivotal concept in economics and business, sharply highlights the imbalance between effort and outcome. Also known as the 80/20 rule, this principle posits that, in many cases... View Op-Ed How Gresham's Law Can Affect Crypto Markets Gresham's Law In the 16th century, Sir Thomas Gresham delved into the public’s response to the devaluation of currency in England, leading to the principle known as Gresham’s Law. It articulates the... View Op-Ed Maximizing Value in Investment Funds: The Synergy of AI, Entertainment, IP Rights, and Blockchain December 2023 As 2024 draws to a close, we're witnessing a resurgence in interest in digital asset and blockchain technology funds. By December 2023, the digital asset space has achieved a market cap... View Op-Ed Tokenizing the Future: How Blockchain and AI are Transforming Real-World Assets Transforming Real-World Assets As of November 2023, the total market capitalization of the digital asset space stands at approximately $1.5 trillion USD. Predominantly, this is made up of blockchain-based assets that exist solely on-chain... View Op-Ed Can Crypto Flip the Script on the Cantillon Effect? Cantillon Effect Irish economist and investor Richard Cantillon delved into the mechanisms of domestic money supply growth during his time when currencies were tethered to precious metals like gold and silver... View Op-Ed Comparing Investment Strategies: Cryptocurrency Funds Versus Traditional Asset Class Funds Cryptocurrency Funds Versus Traditional Asset Class Funds The investment landscape reveals a significant gap—and a potential opportunity—when comparing cryptocurrency funds with more conventional asset classes. This gap can be partially attributed to... View Op-Ed Will Digital Assets Go Mainstream in Hong Kong: Paradigm Shifts in Financial Services Paradigm Shifts in Financial Services Hong Kong's treasury chief, Christopher Hui, announced that the city will allow retail investors to trade cryptocurrencies under a new regulatory regime, affirming the permanence of virtual assets... View Op-Ed Shifting Paradigms: Engagement or Erosion? (The Hidden Costs of Ignoring Cryptocurrency) Cryptocurrency In an era marked by persistent inflation and market volatility, capital deployment strategies are paramount for safeguarding your wealth. Without proper investment, inflation can devalue your savings at an... View Op-Ed The New Normal - Deploy or Depreciate Mid-Monthly Thought Piece [June 2023] In an era marked by persistent inflation and market volatility, capital deployment strategies are paramount for safeguarding your wealth. Without proper investment, inflation can devalue your savings at an... View Op-Ed The Digital Asset Decipher - May 2023 Monthly Market Commentary [May 2023] In the wake of an impressive Q1 rally where Bitcoin (BTC) and Ethereum (ETH) soared by +70% and +55% respectively, May reflected a period of quietude with reduced trading volumes. BTC maintained a... View Op-Ed

OUR TEAM Team & Partners David Doss Founder | Managing Director of Fund MBA, MA, Fulbright Scholar 6 yrs. in crypto | 14+ yrs. strategy, growth & operations. Read More Eugene McCain Investor Relations MBA - Wharton; CPA; Price Waterhouse, Texaco Business dev & investments. Read More CKC Studio Inc. Partner | Growth Studio Blockchain Growth Studio | Co-creating WEB3 Initiatives | Deal Flow & Logistics Partner Read More Douglas Patents Partner | Legal Services Legal Services | USA Read More Brendan Doss Co-Founder | Chief Information Officer PE, PMP; US Dep. of Defense, Ford Aerospace. Strategic process improvement & operations. Read More Dr. Martin Illsley Advisor PhD in Computer Science, global innovation leader, C-level consultant, media spokesperson. Read More Digital Davos Partner | Events Think Tanks & Consortiums | Insights & Due Diligence | Global Networking Community Read More Benemerito Law Partner | Legal Services Legal Services | USA Read More Delia Sabau Head of Portfolio and Risk Management MBA - UC Berkeley; Oxford, Black Rock. Strategy and research for global hedge funds. Read More ChainBLX Partner | Administrator Fund Launchpad Partner | Global Summits & Think Tanks | Next-Gen Advisory Board Overhaul Read More Stuarts Humphries Partner | Legal Services Investment Fund Legal Services | Cayman Islands Read More

< Back Annual Market Update: 2023 in Review Delia Sabau December 02, 2023 Annual Market Update: 2023 in Review Key Takeaways 🚀 BTC and ETH surged in 2023, +154% and +92%, signaling recovery. 💼 Crypto markets embraced institutions, regulated venues, CME BTC/ETH futures. 📈 BlackRock's Bitcoin ETF filing influenced market sentiment. 💹 GBTC narrowed discount from -40% to -9% after SEC reconsideration. 🔗 BTC as risk-on asset, digital store of value, weaker equities correlation. 💱 Altcoin shift: Investor focus from BTC to Solana (SOL) at $124. 🌐 Bitcoin network growth: $170M in miner fees, increased transactions. 📧 Stay updated via CKC.Fund on LinkedIn or contact info@ckc.fund The crypto sector witnessed a remarkable turnaround in 2023, bouncing back robustly from the tough macroeconomic conditions of the previous year. This resurgence was most evident in the performances of Bitcoin (BTC) and Ethereum (ETH). Both cryptocurrencies hit their lowest values on January 1st, but this marked the beginning of a significant upswing. Over the year, BTC and ETH recorded impressive gains of +154% and +92% respectively. This recovery unfolded in two key phases: a swift rise from January to February, followed by another substantial increase from mid-October through the end of the year. Transformative Trends in 2023: Institutional Participation, ETF Momentum, and the Rise of Altcoins Define the Crypto Revival. The crypto sector witnessed a remarkable turnaround in 2023, bouncing back robustly from the tough macroeconomic conditions of the previous year. BTC/ETH Trading Volume and Resilient Recovery In the early months of 2023, the price movements of BTC and ETH were largely influenced by broader macroeconomic conditions, albeit without a specific driving narrative. This could be seen as a turning point from the challenges of 2022. As March concluded, focus shifted to certain U.S. regional banks, notably Silvergate, SVB, and Signature Bank, which are closely tied to crypto companies. Despite initial liquidity concerns, this period saw BTC and ETH hitting yearly highs. The latter part of the year was dominated by discussions about a potential spot BTC ETF in the U.S. As of this writing, applications from major players like BlackRock, Invesco, and Grayscale Investments are pending approval. Fig 1. BTC & ETH price (YTD performance %) and spot volumes ($mm) While 2023 marked a recovery in crypto prices, BTC and ETH spot trading volumes remained subdued, except for a surge in BTC's daily spot volumes to $33 billion USD in March. Institutionalization of Crypto Markets 2023 illustrated a shift in the crypto markets, traditionally led by retail investors, towards greater institutional involvement and regulatory oversight. This year saw the emergence of regulated derivative venues, including Coinbase Derivatives, Cboe, Eurex, GFO-X, AsiaNext, and 24Exchange. The institutional embrace of digital assets was particularly evident in the derivatives market. CME experienced a steady rise in BTC and ETH futures and options trading. While the first nine months witnessed stable Open Interest for BTC and ETH, October’s price movements drew significant institutional attention, particularly with the prospect of a spot BTC ETF approval and hedging opportunities through derivatives. There was also notable growth in institutional-grade spot venues like EDX Markets (Citadel/Virtu), Elwood, and Fusion Digital Assets (TP ICAP/Fidelity), alongside increased engagement from institutional asset managers and custodians including Fidelity, BNY, BlackRock, among others. Rising Institutional Interest in BTC ETFs and ETPs 2023 was a pivotal year for BTC ETFs. BlackRock’s June filing for a U.S. spot Bitcoin ETF sparked a series of similar filings. While many ETPs with BTC exposure existed, a U.S.-issued spot BTC ETF remained elusive. Market sentiment throughout the year swayed with news of potential ETF approvals or rejections. The anticipation of a spot BTC ETF was mirrored in the inflows into existing ETPs and futures ETFs, particularly in the last quarter with significant net inflows. Narrowing GBTC Discount The Grayscale Bitcoin Trust (GBTC), established in 2013 as the first trust for accredited investors, saw a notable shift in 2023. Currently at $27.2 billion in AUM, GBTC operates without share redemption, leading to secondary market price discovery. A conversion into a BTC ETF, which would allow immediate share creation and redemption, could reduce the GBTC discount. After multiple rejections, the SEC was court-mandated to reconsider Grayscale’s application in October 2023, leading to the GBTC discount narrowing from -40% to -9%. Fig 2. GBTC discount to BTC. BTC and ETH Cross-Asset Correlation Dynamics BTC's role in the financial markets has been multifaceted, acting both as a dynamic risk-on asset and as a digital store of value, often seen as a hedge against inflation. In 2023, its relationship with traditional equities showed a notable shift from previous years. Starting the year with a correlation of +0.60 with equities, BTC's alignment gradually decreased, nearing a negative correlation by August. This trend was particularly evident during the turbulence in the U.S. regional banking sector, where BTC demonstrated notable resilience despite a downturn in the KBW Bank Index, underscoring its reputation as a reliable store of value. Furthermore, BTC's correlation with gold has steadily decreased throughout the year, moving into a negative correlation of -0.40 by mid-year. Fig 3. BTC and cross-asset correlation YTD (rolling 30-day). Throughout 2023, BTC and ETH maintained a strong correlation, albeit with some fluctuations. Notably, the correlation experienced a slight dip in April following the Shapella Upgrade. Additionally, as the year progressed, BTC's price performance began to surpass that of ETH, leading to a divergence in their correlation towards the end of the year. Reallocation and Rotation into Altcoins The landscape of cryptocurrency investment saw significant changes in 2023, particularly in Bitcoin's market capitalization. Starting the year at a relatively modest 37.26% market dominance, Bitcoin experienced a substantial increase, reaching a peak of 51.66%. However, as November approached, there was a slight decrease in this dominance, signaling a growing investor interest in alternative cryptocurrencies like Ethereum (ETH) and other altcoins. Bitcoin dominance surged throughout 2023, peaking at 51.66%, and then slightly declined. Throughout the year, Bitcoin maintained a strong position, but the latter part of 2023 marked a noticeable shift. A key example of this trend was the remarkable performance of Solana's SOL. SOL faced challenges following the FTX collapse but made a strong comeback in the latter part of the year. Starting at a modest $10, SOL's value soared to $124 by December, fueled by a robust demand in its decentralized applications (dApps) ecosystem, featuring projects such as Jito, Jupiter, Magic Eden, among others. Thanks to its low transaction costs, Solana stands as a promising contender for a potential bull market in 2024. Inscriptions and Ordinals: A New Bitcoin Use Case The Bitcoin network has evolved to encompass more than just peer-to-peer (P2P) transactions, thanks to the advent of Ordinals. Data from Dune Analytics reveals that since the introduction of the BRC-20 token standard in March, inscription creators have contributed over $170 million in miner fees to the Bitcoin network. This innovation has led to a spike in BRC-20 transactions, reaching 44.5 million, largely driven by a burgeoning interest in memecoins. The year 2023 also marked significant strides in making Bitcoin's Layer-2 solutions more user-friendly for retail investors. Inscriptions and Ordinals: A New Bitcoin Use Case The Bitcoin network has evolved to encompass more than just peer-to-peer (P2P) transactions, thanks to the advent of Ordinals. Data from Dune Analytics reveals that since the introduction of the BRC-20 token standard in March, inscription creators have contributed over $170 million in miner fees to the Bitcoin network. This innovation has led to a spike in BRC-20 transactions, reaching 44.5 million, largely driven by a burgeoning interest in memecoins. The year 2023 also marked significant strides in making Bitcoin's Layer-2 solutions more user-friendly for retail investors. Sustaining Crypto Market Momentum into 2024 The year 2023 witnessed a gradual but steady recovery in the crypto market, culminating in a strong finish in the final quarter across both spot and derivatives markets. This positive trend, coupled with other optimistic developments like the anticipated BTC ETF approvals, sets a hopeful tone for 2024. If you’re interested in enhancing your understanding of this rapidly evolving space, we kindly suggest you follow us on LinkedIn. Stay one step ahead in the world of digital assets with us. Please feel free to contact us at info@ckc.fund if we can be of any assistance to you in your plans for growth in 2024. As we embrace the festive season, the CKC team wishes you an exceptionally prosperous and joyous 2024 ! – The CKC.Fund Team info@ckc.fund www.ckc.fund This content is intended for general informational purposes only. CKC.Fund does not render or offer personalized financial, investment, tax, legal, security, or accounting advice. The information provided in this content is provided solely as general information and to provide general education. No information contained herein should be regarded as a suggestion to engage in or refrain from any investment-related course of action. This content may contain certain statements, estimates and projections that are "forward-looking statements." All statements other than statements of historical fact in this content are forward-looking statements and include statements and assumptions relating to: plans and objectives of management for future operations or economic performance; conclusions and projections about current and future economic and political trends and conditions; and projected financial results and results of operations. These statements can generally be identified by the use of forward-looking terminology including "may," "believe," "will," "expect," "anticipate," "estimate," "continue", "rankings," “intend,” “outlook,” “potential,” or other similar words. CKC.Fund does not make any guarantees, representations or warranties (express or implied) about the accuracy of such forward-looking statements. Forward-looking statements involve certain risks, uncertainties, and assumptions and other factors that are difficult to predict. Viewers are cautioned that actual results referenced in this content could differ materially from forward-looking statements; and viewers of this content are cautioned not to view forward-looking statements as actual results or place undue reliance on forward-looking statements. Past performance is not indicative nor a guarantee of future results. No content in this content shall be viewed as a guarantee of future performance. Previous Next

< Back Deciphering Cryptocurrency Market Trends - May 2023 Delia Sabau May 31, 2023 Market Trends - May 2023 Unraveling the BTC and ETH Performance In the wake of an impressive Q1 rally where Bitcoin (BTC) and Ethereum (ETH) soared by +70% and +55% respectively, May reflected a period of quietude with reduced trading volumes. BTC maintained a monthly range of $26,000–$30,000, while ETH hovered between $1,750–$2,000, reflecting a period of reduced price volatility and subdued trading activity. The daily BTC spot to BTC futures volumes plunged from 0.8 in mid-February to 0.2 by the end of May, marking a 12-month low. This reflects an industry shift in market liquidity, pivoting towards futures markets and hinting at the robustness of BTC price movements. BTC and ETH Correlation: A Declining Trend The 90-day correlation between BTC and ETH recorded a new year-to-date low, slumping to 84.3% after a high of 95.2% in the previous year. The disparity between the two major cryptocurrencies has become more noticeable since Ethereum's Shapella network upgrade on April 12th. This trend indicates an increasing level of independence between BTC and ETH, offering implications for diversification strategies and investment decisions in the expansive digital asset class. Bitcoin's Evolution Beyond a 'Store of Value' The Bitcoin ecosystem is signaling a departure from the pure 'store of value' narrative, reaching a record high transaction volume stimulated by market interest in Ordinal inscriptions and BRC-20 tokens. In December 2022, Bitcoin developer Casey Rodarmor introduced open-source software enabling users to "inscribe" designs onto sats (the smallest BTC unit), creating "Ordinals" or NFTs on the Bitcoin protocol. This innovation has extended Bitcoin's utility beyond peer-to-peer value transfers, indicating its potential to accommodate diverse digital assets and transactions. This adaptability not only reinforces Bitcoin's versatility but also extends its overall value proposition. This innovation has extended Bitcoin's utility beyond peer-to-peer value transfers, indicating its potential to accommodate diverse digital assets and transactions. This adaptability not only reinforces Bitcoin's versatility but also extends its overall value proposition. Record Bitcoin Transaction Volumes and their Implication On May 1st, the Bitcoin network witnessed a historic single-day transaction count, settling 685,711 transactions. This surge in transaction volume resulted in network congestion on May 7th. However, this elevated on-chain activity turned out to be beneficial for BTC miners. Although a large portion of miners' revenues originates from block rewards, the proportion of revenue from transaction fees rocketed from 2–4% to a high of 42%, stabilizing thereafter. This stabilization amidst high transaction volumes indicates the resilience of the Bitcoin ecosystem in the face of growing adoption. Despite the increase in on-chain activity, the number of daily active addresses fell to around 550K (IntoTheBlock data), a significant decline from the typical range of 800K–1M. This drop might be attributable to higher transaction fees dissuading users from conducting transactions Ethereum's On-Chain Activity and Transaction Fees Like Bitcoin, the Ethereum blockchain also observed heightened on-chain activity, with transaction fees hitting a peak of ~$27 USD per transaction. The increased fees were partly attributed to the trading demand for PEPE, a popular memecoin. The primary news regarding Ethereum was related to the network's finality issues. 'Finality' refers to the point where a block's transactions are confirmed by a supermajority of validators (on Ethereum) or miners, becoming irreversible. Certain technical issues temporarily prevented the Ethereum network from finalizing blocks, but these were subsequently resolved. As a result, Ethereum is solidifying a stabilized version of its proof-of-stake iteration, paving the way for a more efficient and energy-conscious adoption of digital assets. Navigating the intricate and ever-changing world of digital assets can be challenging. We aim to simplify these complexities through our newsletter, offering insightful commentary from seasoned industry experts. To further deepen your knowledge in this rapidly evolving sector, we invite you to follow CKC.Fund on LinkedIn and subscribe to our bi-weekly newsletter. Keep pace with the digital asset industry and stay ahead of the curve with us. Should you require more information, feel free to reach out to us at info@ckc.fund . The CKC.Fund Team www.ckc.fund Previous Next

< Back Benemerito Law Partner | Legal Services Benemerito Law is a New York City based law firm supports CKC Management LLC in U.S.-specific securities and compliance matters pertaining to its fund-management work. The firm's various practice areas include business law, intellectual property, real estate law, immigration law, and securities law. Their team of attorneys possess extensive experience in assisting startups, fundraising, and general counsel.

INVEST WITH CONFIDENCE Unlock the Potential of Digital Assets OUR VISION At CKC Fund, we are reshaping the landscape of crypto and traditional finance, redefining investment strategies, and unlocking new opportunities for our clients. OUR APPROACH Delivering Exceptional Investment Solutions CRYPTO ANALYSIS With our deep understanding of the crypto market, we provide valuable insights and investment opportunities for our clients. Our expertise allows us to navigate the complexities of the crypto landscape and deliver superior results. Discover More RISK MITIGATION We specialize in minimizing downside risks and implementing robust risk management strategies to safeguard our clients' investments in both traditional and crypto markets. Learn More WEALTH PRESERVATION Preserving and growing wealth is at the core of our investment approach. We offer tailored solutions focused on wealth preservation and long-term value creation for our clients. Explore WHY CHOOSE CKC FUND Experience the Power of Data-Driven Allocation Decisions At CKC FUND, we employ a comprehensive approach to investment management, leveraging data-driven insights and innovative strategies to drive superior results for our clients. Learn More CKC FUND In Numbers 20 YEARS OF TRADFI EXPERIENCE 98% CLIENT SATISFACTION 50+ ANALYSED PROJECTS 10 EXPERT TEAM STRATEGIC ALLIANCES Our Partnerships Our strategic collaborations and alliances enable us to offer unparalleled investment opportunities and access to a diverse network of industry experts and resources. CKC STUDIO EVENT PARTNERS ADMINISTRATOR LEGAL ADVISORS Our Team Extensive blockchain, tech, finance, and risk mitigation experience. CEO | Founder David Doss David has over 14 years of experience leading teams of + and managing budgets of $5M+. He has worked in various industries including software, media, financial services, real estate, and cryptocurrency for notable organizations such as Citi and Saks 5th Avenue. David's diverse experience in fintech drives his dedication to nurturing the role of blockchain within the regulated global financial system. He holds an honors MA and an MBA with a focus on strategy and entrepreneurship. CIO | Co-Founder Brendon Doss Brendan Doss has 40 years of experience in engineering and project, including with Ford Aerospace, the U.S. Department of Defense, and the Environmental Protection Agency. He evaluates blockchain projects, manages infrastructure, and mitigates risk for CKC.Fund. Brendan has experienced success with blockchain node-hosting and various staking approaches, and is passionate about the power of crypto investments to produce transformative financial results Portfolio Manager Delia Sabau With a background in managing portfolios worth over $1 billion in both digital and traditional assets, Delia brings expertise in hedge fund management, DeFi, blockchain, and quantitative research. holds a B.S. in Mathematics, an MBA in Finance, and blockchain and fintech certifications from Oxford. Delia's experience enables her to offer a comprehensive perspective on digital assets, including strategic investment choices, risk management, emerging opportunities in the digital asset markets. JOIN OUR TEAM We are seeking talented individuals who are passionate about finance, technology, and innovation. Explore available positions and take the next step in your career with CKC FUND. View Openings INVESTMENT ANALYST New York, NY Join our team of dedicated professionals and contribute to shaping the future of finance and investment management. Apply Now

OUR EDGE IN CRYPTO AND TRADITIONAL FINANCE Our edge lies in our collective expertise, over 20 years of experience in both crypto analysis and traditional finance. We bring maturity, risk mitigation, and downside minimization to the complex crypto landscape. We recognize the immense opportunities, we also understand wealth preservation. CRYPTO ANALYSIS & RISK MANAGEMENT With our advanced crypto analysis and risk management strategies, we provide comprehensive solutions for navigating the dynamic crypto market. Our expertise ensures effective risk mitigation and wealth preservation in the ever-changing crypto landscape. INNOVATIVE INVESTMENT APPROACH Our innovative investment approach is centered around maximizing returns while minimizing downside risks. We combine traditional finance principles with cutting-edge strategies to create a well-balanced and resilient investment portfolio. SUSTAINABLE GROWTH & EFFICIENCY We are committed to sustainable growth and efficiency in all our investment endeavors. By leveraging our extensive experience and market insights, we aim to optimize returns while promoting sustainable financial growth. COMPREHENSIVE INVESTMENT TOOLS We have developed a suite of comprehensive investment tools designed to empower our clients and enhance their decision-making processes. Our digital products provide real-time market information and situational awareness, enabling informed investment decisions. ROBUST CYBER SECURITY MEASURES Ensuring the security of our clients' financial data is paramount. Our robust cyber security measures provide advanced protection against potential threats, safeguarding the integrity of our clients' investment activities. REAL-TIME MARKET INSIGHTS Access real-time market insights and critical investment information through our intuitive digital platforms. Stay informed and make well-informed investment decisions based on the latest market developments and trends.

< Back Deciphering Cryptocurrency Market Trends - September 2025 October 8th, 2025 Key Takeaways BTC pierced $117K and closed September green — a historically bullish setup for Q4. ETF tailwinds, institutional inflows, and easing macro conditions are creating fertile ground for a selective altcoin breakout. While retail remains cautious, data shows that early positioning, especially in long-biased alt strategies, offers asymmetric upside. Active capital rotation into ecosystems like Base, Hyperliquid, and Ethereum is reshaping fee dynamics and protocol dominance. Market Overview Despite macro noise and shutdown headlines, crypto closed September strong. BTC is firmly above $117K, with dominance nearing 58%. Historically, a green September has led to bullish Q4s—and with 97% odds of an October rate cut, liquidity appears supportive. That said, we may see a short-term dip (Oct 7–10) as markets reposition—a common liquidity grab that may set the stage for altcoin entries. Watch for BTC to hold dominance briefly on any dip, then rotate strength into majors and beta plays. This structure rewards managers who are both patient and tactical—leaning in when the setup favors asymmetric upside. Regulatory Developments October kicks off a wave of ETF launches—SOL, XRP, AVAX, SUI, and more—bringing new liquidity channels to altcoins. The SEC’s new generic listing standards simplify the ETF approval process, eliminating delays caused by case-by-case reviews. This opens the door for more issuers and assets to gain regulated exposure. Also notable: the SEC’s no-action letter allowing state-chartered trust companies to serve as qualified custodians for crypto. This reduces reliance on legacy banks and supports the growth of regulated digital asset strategies. SEC Actions The SEC’s tone remains cautious but constructive. Approvals are leaning toward streamlining rather than restriction. There’s also early discussion of allowing blockchain-based equity instruments to trade on crypto exchanges—signaling openness to deeper financial integration. The big shift? Institutions can now access crypto more securely and flexibly than ever—if they know where to look. That’s where actively managed strategies shine. Institutional Moves Public treasuries added 50,361 BTC (+5%) and 1.13M ETH (+26%) last month. SOL holdings among public firms exploded +2,000%, confirming growing institutional confidence in alt ecosystems. Maple Finance also scaled from $400M to $4B TVL YTD, and plans to launch syrupBTC —a yield-bearing BTC token. These are not retail-driven flows. Sophisticated allocators are deploying capital toward yield, composability, and protocols with real-world utility. Political Influence on Markets The U.S. government shutdown rattled traditional markets but crypto remained resilient. Investors are losing trust in U.S. fiscal stability—not just because of debt, but because of dysfunction. That’s pushing capital toward scarce, decentralized assets like BTC, SOL, and ETH—especially as inflation expectations rise and real rates drift lower. Policy uncertainty has made passive positioning riskier. Actively managed strategies that can pivot in real time are becoming more valuable in navigating volatility and macro dislocations. Macro and Global Liquidity The Fed delivered its first rate cut since December, with more expected. CPI remains elevated at 2.9% and PCE sits at 2.7%, while jobs data underwhelms. Weak labor, softening yields, and a falling DXY point to a more dovish backdrop. Gold is above $3.7K, oil is tame at $63, and stablecoin issuance is rising. Combined, this supports risk-on conditions—particularly in liquid, high-beta altcoins. Looking Ahead Expect continued BTC dominance until a confirmed breakout, followed by a strong altcoin rotation — led by majors like ETH and SOL, and seconded by ecosystem plays on Base, Hyperliquid, and emerging wallet layers. The divergence in fees vs DEX volumes highlights the need to focus on protocols that can monetize sustainably , not just grow usage. At CKC.Fund , we remain focused on long-biased, actively managed exposure across structurally advantaged altcoin ecosystems. Our approach benefits from early rotation signals, a thesis-driven portfolio, and high-conviction entries backed by macro, regulatory, and flow dynamics. If you’re seeking exposure that moves beyond headlines and positions ahead of the curve, we’re here to talk. – The CKC.Fund Team For more information or inquiries, please reach out to us at info@ckc.fund CKC.Fund – Offshore. Actively managed. Altcoin focused. This content is intended for general informational purposes only. CKC.Fund does not render or offer personalized financial, investment, tax, legal, security, or accounting advice. The information provided in this content is provided solely as general information and to provide general education. No information contained herein should be regarded as a suggestion to engage in or refrain from any investment-related course of action. This content may contain certain statements, estimates and projections that are "forward-looking statements." All statements other than statements of historical fact in this content are forward-looking statements and include statements and assumptions relating to: plans and objectives of management for future operations or economic performance; conclusions and projections about current and future economic and political trends and conditions; and projected financial results and results of operations. These statements can generally be identified by the use of forward-looking terminology including "may," "believe," "will," "expect," "anticipate," "estimate," "continue", "rankings," "intend," "outlook," "potential," or other similar words. CKC.Fund does not make any guarantees, representations or warranties (express or implied) about the accuracy of such forward-looking statements. Forward-looking statements involve certain risks, uncertainties, and assumptions and other factors that are difficult to predict. Viewers are cautioned that actual results referenced in this content could differ materially from forward-looking statements; and viewers of this content are cautioned not to view forward-looking statements as actual results or place undue reliance on forward-looking statements. Past performance is not indicative nor a guarantee of future results. No content in this content shall be viewed as a guarantee of future performance. Previous Next

< Back Annual Market Update: 2024 in Review January 8th, 2025 Key Takeaways: 2024 Digital Asset Highlights and December Recap 📈 Bitcoin Surges : Bitcoin hit $100K+; ETFs reached $129B AUM. 🏠 RWA Tokenization : Tokenized assets grew to $13.9B, unlocking new liquidity. 💸 DeFi Boom : December DEX volume hit $462B; DeFi TVL grew 133% YoY to $124.8B. 🎨 NFT Resilience : Annual sales reached $8.8B, driven by utility-focused NFTs. 🌍 Stablecoin Growth : Market cap surpassed $200B, with adoption in emerging markets. 🤖 AI Integration : Enhanced scalability with AI-driven compliance and smart contracts. 🔌 DePIN Growth: Community-driven energy, storage, and connectivity networks expanded. 2025 Focus 💹 Systematic Solutions : Scalable strategies tied to high-momentum assets. 📦 Tokenized RWAs : Expand tokenized asset strategies for diversified returns. 🤝 Partnerships : Collaborate on DeFi and stablecoin strategies. 🌍 Emerging Markets : Growth opportunities in Southeast Asia, the Middle East, and Africa. December 2024 Market Activity December capped off a record-breaking year for DeFi and decentralized trading. Key Highlights DEX Trading Volume: Monthly volume hit $462 billion, led by Uniswap ($106 billion) and PancakeSwap ($96 billion). Total Value Locked (TVL) Growth: DeFi TVL grew 133.8% year-over-year, reaching $124.8 billion in December. Stablecoins alone contributed 44% of the $1.5 billion in monthly DeFi revenue. NFT Resurgence: NFT trading volume climbed to $8.8 billion, driven by utility-focused applications and adoption on Ethereum and Solana. Memecoin Volatility: Memecoins saw a $45 billion drop in market cap, reflecting challenges for speculative assets. 2024 was a pivotal year for CKC and the broader crypto ecosystem. Here’s a streamlined overview of the key developments, opportunities, and our strategic outlook for 2025. 2024 Key Developments 1. Bitcoin Milestones and ETF Growth Bitcoin broke $100,000, driven by ETF approvals and institutional interest. Spot Bitcoin ETFs reached $129 billion in AUM, further integrating crypto into traditional finance. 2. Real-World Asset (RWA) Tokenization Tokenized RWAs grew to $13.9 billion, unlocking liquidity in traditionally illiquid markets. This trend positions tokenization as a major growth area for blockchain-based finance. 3. Venture Capital Revival VC funding for crypto startups hit $13.6 billion, with expectations for $18 billion in 2025. Notable investments targeted blockchain infrastructure, tokenization, and DeFi platforms. 4. AI Integration in Blockchain AI-powered solutions like on-chain biometric verification streamlined compliance and enhanced security. Agent-driven smart contracts enabled automated and dynamic execution, boosting scalability and reducing operational inefficiencies. Integration of predictive AI tools also improved portfolio management and risk assessment, paving the way for smarter, more adaptive DeFi ecosystems. 5. NFT Market Resilience NFT sales rebounded to $8.8 billion, surpassing 2023 volumes, with a shift toward utility-based NFTs. 6. Stablecoin and Emerging Market Growth The stablecoin market cap exceeded $200 billion, driven by adoption in regions like Southeast Asia, Africa, and the Middle East. 7. DePIN (Decentralized Physical Infrastructure Networks) Expansion DePINs gained traction by enabling users to own and benefit from infrastructure like energy, storage, and internet connectivity, reducing reliance on centralized providers. Projects like decentralized energy grids and blockchain-based storage showcased real-world utility. Opportunities for CKC in 2025 Momentum and Yield Strategies : The team is exploring yield-generation strategies tied to emerging trends in high-momentum crypto assets. RWA Tokenization : The team is studying the expansion of tokenized asset applications as a means of enabling diversified returns. Baskets of Crypto Assets : Researching frameworks for managed portfolios of crypto assets to better understand risk-adjusted strategies. Partnerships : Engaging with DeFi platforms and stablecoin issuers to explore collaborative opportunities within the ecosystem. Emerging Market Adoption : Focusing on regions like Southeast Asia and Africa, leveraging rising demand for stablecoins and digital asset baskets to drive growth. 2025 Outlook CKC’s strategies align with several major trends including ETFs, tokenization, and stablecoin adoption. With clearer regulations and strong global partnerships, CKC is well-positioned to grow its offerings and drive value for investors while leading innovation in DeFi and digital asset management. Stay in Touch Navigating the ever-changing landscape of digital assets can be a challenge. That's why we’ve created this newsletter to help bring clarity to the complexity. In addition to a monthly summary of the most important crypto news, we layer in insightful commentary from insiders and experts who understand the cryptocurrency market. If you’re interested in enhancing your understanding of this rapidly evolving space, we kindly suggest you follow us on LinkedIn. Stay one step ahead in the world of digital assets with us. You are also welcome to reach out to us at info@ckc.fund if you would like to know more. The CKC.Fund Team info@ckc.fund This content is intended for general informational purposes only. CKC.Fund does not render or offer personalized financial, investment, tax, legal, security, or accounting advice. The information provided in this content is provided solely as general information and to provide general education. No information contained herein should be regarded as a suggestion to engage in or refrain from any investment-related course of action. This content may contain certain statements, estimates and projections that are "forward-looking statements." All statements other than statements of historical fact in this content are forward-looking statements and include statements and assumptions relating to: plans and objectives of management for future operations or economic performance; conclusions and projections about current and future economic and political trends and conditions; and projected financial results and results of operations. These statements can generally be identified by the use of forward-looking terminology including "may," "believe," "will," "expect," "anticipate," "estimate," "continue", "rankings," "intend," "outlook," "potential," or other similar words. CKC.Fund does not make any guarantees, representations or warranties (express or implied) about the accuracy of such forward-looking statements. Forward-looking statements involve certain risks, uncertainties, and assumptions and other factors that are difficult to predict. Viewers are cautioned that actual results referenced in this content could differ materially from forward-looking statements; and viewers of this content are cautioned not to view forward-looking statements as actual results or place undue reliance on forward-looking statements. Past performance is not indicative nor a guarantee of future results. No content in this content shall be viewed as a guarantee of future performance. Previous Next

< Back The Digital Asset Decipher - May 2023 Delia Sabau- April 30, 2023 Monthly Market Commentary [May 2023] Unraveling the BTC and ETH Performance In the wake of an impressive Q1 rally where Bitcoin (BTC) and Ethereum (ETH) soared by +70% and +55% respectively, May reflected a period of quietude with reduced trading volumes. BTC maintained a monthly range of $26,000–$30,000, while ETH hovered between $1,750–$2,000, reflecting a period of reduced price volatility and subdued trading activity. The daily BTC spot to BTC futures volumes plunged from 0.8 in mid-February to 0.2 by the end of May, marking a 12-month low. This reflects an industry shift in market liquidity, pivoting towards futures markets and hinting at the robustness of BTC price movements. BTC and ETH Correlation: A Declining Trend The 90-day correlation between BTC and ETH recorded a new year-to-date low, slumping to 84.3% after a high of 95.2% in the previous year. The disparity between the two major cryptocurrencies has become more noticeable since Ethereum's Shapella network upgrade on April 12th. This trend indicates an increasing level of independence between BTC and ETH, offering implications for diversification strategies and investment decisions in the expansive digital asset class. Bitcoin's Evolution Beyond a 'Store of Value' The Bitcoin ecosystem is signaling a departure from the pure 'store of value' narrative, reaching a record high transaction volume stimulated by market interest in Ordinal inscriptions and BRC-20 tokens. In December 2022, Bitcoin developer Casey Rodarmor introduced open-source software enabling users to "inscribe" designs onto sats (the smallest BTC unit), creating "Ordinals" or NFTs on the Bitcoin protocol. This innovation has extended Bitcoin's utility beyond peer-to-peer value transfers, indicating its potential to accommodate diverse digital assets and transactions. This adaptability not only reinforces Bitcoin's versatility but also extends its overall value proposition. This innovation has extended Bitcoin's utility beyond peer-to-peer value transfers, indicating its potential to accommodate diverse digital assets and transactions. This adaptability not only reinforces Bitcoin's versatility but also extends its overall value proposition. Record Bitcoin Transaction Volumes and their Implication On May 1st, the Bitcoin network witnessed a historic single-day transaction count, settling 685,711 transactions. This surge in transaction volume resulted in network congestion on May 7th. However, this elevated on-chain activity turned out to be beneficial for BTC miners. Although a large portion of miners' revenues originates from block rewards, the proportion of revenue from transaction fees rocketed from 2–4% to a high of 42%, stabilizing thereafter. This stabilization amidst high transaction volumes indicates the resilience of the Bitcoin ecosystem in the face of growing adoption. Despite the increase in on-chain activity, the number of daily active addresses fell to around 550K (IntoTheBlock data), a significant decline from the typical range of 800K–1M. This drop might be attributable to higher transaction fees dissuading users from conducting transactions. Ethereum's On-Chain Activity and Transaction Fees Like Bitcoin, the Ethereum blockchain also observed heightened on-chain activity, with transaction fees hitting a peak of ~$27 USD per transaction. The increased fees were partly attributed to the trading demand for PEPE, a popular memecoin. The primary news regarding Ethereum was related to the network's finality issues. 'Finality' refers to the point where a block's transactions are confirmed by a supermajority of validators (on Ethereum) or miners, becoming irreversible. Certain technical issues temporarily prevented the Ethereum network from finalizing blocks, but these were subsequently resolved. As a result, Ethereum is solidifying a stabilized version of its proof-of-stake iteration, paving the way for a more efficient and energy-conscious adoption of digital assets. Navigating the complex and ever-changing world of digital assets can be a challenge, but staying informed is key. If you found value in these insights and wish to deepen your understanding of this evolving space, consider connecting with CKC.Fund on LinkedIn. Additionally, if you aren’t already, you can subscribe to our newsletter, filled with tailored digital asset insights. For more personalized guidance, reach out at info@ckc.fund . Connecting with us helps you stay one step ahead in the world of digital assets. This content is intended for general informational purposes only. CKC.Fund does not render or offer personalized financial, investment, tax, legal, security, or accounting advice. The information provided in this content is provided solely as general information and to provide general education. No information contained herein should be regarded as a suggestion to engage in or refrain from any investment-related course of action. This content may contain certain statements, estimates and projections that are "forward-looking statements." All statements other than statements of historical fact in this content are forward-looking statements and include statements and assumptions relating to: plans and objectives of management for future operations or economic performance; conclusions and projections about current and future economic and political trends and conditions; and projected financial results and results of operations. These statements can generally be identified by the use of forward-looking terminology including "may," "believe," "will," "expect," "anticipate," "estimate," "continue", "rankings," “intend,” “outlook,” “potential,” or other similar words. CKC.Fund does not make any guarantees, representations or warranties (express or implied) about the accuracy of such forward-looking statements. Forward-looking statements involve certain risks, uncertainties, and assumptions and other factors that are difficult to predict. Viewers are cautioned that actual results referenced in this content could differ materially from forward-looking statements; and viewers of this content are cautioned not to view forward-looking statements as actual results or place undue reliance on forward-looking statements. Past performance is not indicative nor a guarantee of future results. No content in this content shall be viewed as a guarantee of future performance. Previous Next

< Back Deciphering Cryptocurrency Market Trends - August 2025 September 5th, 2025 Key Takeaways Capital is rotating quietly from BTC into ETH and mid-cap altcoins. BTC dominance at 63% is a key level; a breakdown favors alts. Institutions are actively reshaping portfolios beyond just BTC. Macro uncertainty makes passive exposure less effective. Active altcoin strategies are positioned to capture emerging alpha. Market Overview The total crypto market cap now stands just shy of $4 trillion, with Bitcoin holding steady around $111,000. However, under the surface, a much more dynamic story is unfolding. Ethereum dominance has quietly climbed to over 13%, backed by nearly $20 billion in monthly inflows and whale rotations totaling more than $3 billion out of BTC. This capital movement is not just tactical—it’s directional. The ETH/BTC ratio and the altcoin market cap index (excluding BTC, ETH, and stables) show growing divergence, with ETH leading the way. Historically, these are the precursors to altcoin expansions. For allocators looking to outperform, standing still is no longer an option. Markets are rewarding proactive, cross-chain, cross-sector exposure. Regulatory Developments The regulatory tone continues to shift—less toward bans and more toward frameworks. A notable example this month is the Philippines’ proposed 10,000 BTC sovereign reserve strategy, which—while not a global needle-mover—signals increasing political comfort with crypto as a treasury asset. In parallel, several jurisdictions in Latin America and Southeast Asia are accelerating integration efforts. These structural moves, while subtle, favor token ecosystems with strong compliance rails and institutional alignment. This is fertile ground for funds capable of navigating multi-jurisdictional narratives. SEC Actions While there have been no major enforcement actions this month, the posture of the SEC continues to evolve. Most notably, VanEck’s JitoSOL ETF filing and the growing conversation around Ethereum spot ETFs reflect a shift in how token exposure is being normalized for regulated channels. This is meaningful. Tokens that would have been excluded from capital pools a year ago are now being actively considered by wealth platforms, family offices, and banks. For actively managed funds, this broadening of investability opens doors—not just for capital flow, but for strategic positioning ahead of increased retail and institutional access. Institutional Moves Institutional behavior tells the real story this month. Publicly held Bitcoin reserves are up four percent, but that number pales in comparison to Ethereum, which saw a 74 percent increase in holdings by public treasuries. The shift is deliberate. Entities like Fundstrat, Galaxy Digital, and Jump Trading are betting aggressively on ETH and Solana, while Layer-1 infrastructure and DeFi tokens such as LINK, AAVE, MNT, and HYPE are seeing renewed activity, backed by buyback programs and growing fee generation. The takeaway is clear: institutions are not just riding the market—they’re repositioning themselves for what’s next. Passive exposure is no longer the institutional default. Political Influence on Markets Jerome Powell’s speech at Jackson Hole underscored a growing tension in US monetary policy. The Fed is balancing persistent inflation, driven in part by tariffs and labor supply constraints, against a weakening employment backdrop. With job growth slowing and core CPI rising, markets remain unsure whether the Fed will cut rates in September. The policy language has shifted from certainty to flexibility. That uncertainty fuels volatility—and volatility rewards active capital. Political gridlock, election-year maneuvering, and global trade frictions all point to a market that will favor adaptive strategies over static allocations. Macro and Global Liquidity Growth and inflation are moving in tandem. Second-quarter GDP came in at 3.3%, while core inflation has ticked up month over month, with CPI now at 3.1% and PPI surging to 3.7%. The Volatility Index (VIX) remains low, and margin debt is building as traders front-run what many expect will be a September rate cut. If the Fed moves forward, risk-on assets like equities and crypto are likely to rally into year-end. However, the path is data-dependent. Unemployment figures on September 5, CPI on the 11th, and PPI on the 10th will dictate how the Fed responds. In the meantime, liquidity is moving—not exiting. We’re seeing clear signs of capital rotation from short-term debt into long-duration risk assets. That shift alone favors nimble crypto allocations over index-weighted strategies. Looking Ahead September could mark an inflection point. If markets pull back slightly ahead of a Fed rate cut, the post-cut environment may deliver strong performance for altcoins with embedded incentives and token sinks. Hyperliquid’s continued growth, Kamino’s yield multipliers, and token-specific developments across AAVE, LINK, and HYPE suggest the market is not just about narratives anymore—it’s about mechanisms. As public interest lags behind institutional conviction, the opportunity for actively managed altcoin funds to outperform becomes even more pronounced. At CKC.Fund , we are focused on strategies that harness this edge—tactically, across chains, and with a discipline few can match. If you’re seeking exposure that moves beyond headlines and positions ahead of the curve, we’re here to talk. – The CKC.Fund Team For more information or inquiries, please reach out to us at info@ckc.fund CKC.Fund – Offshore. Actively managed. Altcoin focused. This content is intended for general informational purposes only. CKC.Fund does not render or offer personalized financial, investment, tax, legal, security, or accounting advice. The information provided in this content is provided solely as general information and to provide general education. No information contained herein should be regarded as a suggestion to engage in or refrain from any investment-related course of action. This content may contain certain statements, estimates and projections that are "forward-looking statements." All statements other than statements of historical fact in this content are forward-looking statements and include statements and assumptions relating to: plans and objectives of management for future operations or economic performance; conclusions and projections about current and future economic and political trends and conditions; and projected financial results and results of operations. These statements can generally be identified by the use of forward-looking terminology including "may," "believe," "will," "expect," "anticipate," "estimate," "continue", "rankings," "intend," "outlook," "potential," or other similar words. CKC.Fund does not make any guarantees, representations or warranties (express or implied) about the accuracy of such forward-looking statements. Forward-looking statements involve certain risks, uncertainties, and assumptions and other factors that are difficult to predict. Viewers are cautioned that actual results referenced in this content could differ materially from forward-looking statements; and viewers of this content are cautioned not to view forward-looking statements as actual results or place undue reliance on forward-looking statements. Past performance is not indicative nor a guarantee of future results. No content in this content shall be viewed as a guarantee of future performance. Previous Next

< Back Deciphering Cryptocurrency Market Trends - June 2025 July 7th, 2025 Key Takeaways Liquidity remains abundant even as the yield-curve steepens; that’s a likely intensifying tail-wind for high-beta alts . BTC option pricing has collapsed below S&P vol – CKC is already harvesting that mismatch. Regulatory fog is lifting (GENIUS, CLARITY, SEC rollback): the stable-coin & RWA rails we trade on are turning institutional-grade . Upcoming catalysts (SOL ETF 7/15, Crypto Week 7/14-18) could reprice the market in hours; active positioning is critical. Market Overview Rates & Liquidity: 10-yr sits at 4.25 %, Sept-cut odds ≈ 70 %. 600 B$ still parked in the Fed’s RRP— plenty of dry powder. Vol & Flows: BTC 60-day vol now below S&P; June ETF inflows: BTC + $4.6 B, ETH + $1.16 B . Stable-coins & Treasuries: $255 B float is a standing bid for short coupons—anchoring the front-end and funding on-chain yield. CKC angle: low implied vol lets us buy optionality on our highest-conviction alt positions at a discount, while the liquidity backdrop keeps exit lanes open. Regulatory Developments US: GENIUS stable-coin Act cleared the Senate; CLARITY bill moving in the House. Global: FCA to re-open crypto ETNs, HK stable-coin law live Aug 1. Mortgage twist: FHFA instructs Fannie & Freddie to model crypto collateral—yet another use-case that normalizes digital assets. Why CKC cares: clearer rules mean deeper books and tighter spreads on the niche alts we traffic in; our liquidity-tier screens now include U.S.-domiciled stables that will soon be bank-grade. SEC Actions Shelved the Custody, DeFi and ESG proposals; lifted the Ripple injunction. Impact: lower headline-risk discount on mid-cap tokens – CKC is already rotating into names that were previously “radioactive”. Institutional Moves Circle IPO ($1.2 B) and fresh corporate BTC treasuries validate the asset class. June BTC- & ETH-ETF demand proves the allocator bid is structural, not speculative. Robinhood 24/5 tokenised stocks in the EU, Kraken’s KRAK super-app live, banks hiring crypto desks. Mastercard now supports four stable-coins; BTC-reward cards from Gemini & Coinbase widen retail on-ramps. CKC edge: We use ETF flow tape to time basis trades and hedge directional alt exposure—alpha that passive holders simply miss. Political Influence on Markets The One Big Beautiful Bill ( OBBB ) adds $3 T to the deficit and a 1 % remittance tax: liquidity boost today, rate-vol tomorrow. Crypto Week (House votes 7/14-18): watch GENIUS & CLARITY floor action; any surprise amendment could swing stable-coin spreads we arbitrage. Macro and Global Liquidity China keeps exporting deflation and dumping Treasuries; Euro CPI back to 2 %. BoJ on hold, yen cheap; Norway mulls PoW freeze—hash power likely shifts to U.S. grids CKC already monitors Looking Ahead The next ninety days are stacked with binary headlines—Solana’s ETF verdict on 15 July , the House’s “Crypto Week” votes right after, a heavy Treasury refunding on 1 August , Jackson Hole in late August, the Ethereum Electra testnet, and a dot-plot refresh at the September FOMC. Our playbook is already tilted toward each of these switches: volatility inventory on SOL with pre-planned roll paths into ADA and DOGE; stable-coin liquidity sleeves that expand or contract the moment a bill clears the House floor; curve hedges ready for a weak refunding print; optionality that gaps higher if Powell blinks at Jackson Hole; and staking weight adjustments queued for Electra. In short, the risk units we believe will matter most are already on our radar—waiting for the market to flip them on. Capacity in these lanes is finite; we're already engaged with the risk units we believe will matter most once each switch is flipped. Many existing investors are adding capital ahead of July/August regulatory and fiscal milestones, with new investors looking to join as trading lanes heat up. Stay in Touch Navigating the ever-changing landscape of digital assets can be a challenge. That's why we’ve created this newsletter to help bring clarity to the complexity. In addition to a monthly summary of the most important crypto news, we layer in insightful commentary from insiders and experts who understand the cryptocurrency market. If you’re interested in enhancing your understanding of this rapidly evolving space, we kindly suggest you follow us on LinkedIn. Stay one step ahead in the world of digital assets with us. You are also welcome to reach out to us at info@ckc.fund if you would like to know more. Stay agile, – The CKC.Fund Team info@ckc.fund This content is intended for general informational purposes only. CKC.Fund does not render or offer personalized financial, investment, tax, legal, security, or accounting advice. The information provided in this content is provided solely as general information and to provide general education. No information contained herein should be regarded as a suggestion to engage in or refrain from any investment-related course of action. This content may contain certain statements, estimates and projections that are "forward-looking statements." All statements other than statements of historical fact in this content are forward-looking statements and include statements and assumptions relating to: plans and objectives of management for future operations or economic performance; conclusions and projections about current and future economic and political trends and conditions; and projected financial results and results of operations. These statements can generally be identified by the use of forward-looking terminology including "may," "believe," "will," "expect," "anticipate," "estimate," "continue", "rankings," "intend," "outlook," "potential," or other similar words. CKC.Fund does not make any guarantees, representations or warranties (express or implied) about the accuracy of such forward-looking statements. Forward-looking statements involve certain risks, uncertainties, and assumptions and other factors that are difficult to predict. Viewers are cautioned that actual results referenced in this content could differ materially from forward-looking statements; and viewers of this content are cautioned not to view forward-looking statements as actual results or place undue reliance on forward-looking statements. Past performance is not indicative nor a guarantee of future results. No content in this content shall be viewed as a guarantee of future performance. Previous Next