The information contained in this document is for general information purposes only. The information is provided by Raffles Digital Holdings Limited and its affiliates as the case may be (together, the “REVO Group”). We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the information herein for any purpose. Any reliance you place on such information is therefore strictly at your own risk. In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this document. All information herein will be considered as confidential and not intended for public use or distribution. Any research or analysis used to derive, or in relation to the information has been procured from sources deemed reliable by the REVO Group, without taking into account the investment objectives, financial situation or particular needs of any specific investor. 

This document does not constitute advice and should not be regarded as an investment recommendation, offer or solicitation to any particular person to transact in any product mentioned. Nor should this document be regarded as investment research. Some of the statements contained in this document may be considered forward looking statements which provide current expectations or forecasts of future events. Such forward looking statements are not guarantees of future performance or events and involve risk and uncertainties. Actual results may differ materially from those described in such forward-looking statements as a result of various factors. Revo Group does not undertake any obligations to update the forward-looking statements contained herein, or to update the reasons why actual results could differ from those projected in the forward-looking statements. This document has no contractual value and is not by any means intended as solicitation, nor a recommendation for the purchase or sale of any financial instrument or product in any jurisdiction in which such an offer is not lawful.

An investment in a financial product may carry different risks of varying degrees, including credit, market, liquidity, legal, cross-jurisdictional, foreign exchange and other risks (including the risks of electronic trading and trading in leveraged products). Investments involve risks. The prices of investment products may fluctuate and sometimes dramatically. The price of an investment product may move up or down, and may become valueless. It is as likely that losses will be incurred rather than profit made as a result of buying and selling investment products. Nothing in this document constitutes personalised accounting, legal, regulatory, tax, financial or other advice that regards the personal circumstances of a particular recipient. You should seek your financial, legal, tax or other professional adviser to understand the risks involved and whether it is appropriate for you to assume such risks before investing in any product.

Digital assets refer to digital representations of value which may be in the form of digital tokens (such as utility tokens, stablecoins or security-or asset-backed tokens) or any other virtual commodities, crypto assets or other assets of essentially the same nature, irrespective of whether or not they amount to securities, futures contracts or capital markets products as defined under the relevant laws of Guernsey, Switzerland, Hong Kong or Singapore, but excludes digital representations of fiat currencies issued by central banks. A popular example of a digital asset is the cryptocurrency, Bitcoin. Digital assets are not legal tender. They may not be backed by physical assets, and are not backed or guaranteed by the government. They may not have intrinsic value. Some of the digital assets may not circulate freely or widely, and may not be listed on any secondary markets. Digital assts are generally a high-risk asset class. The absence of central bank support and the fact that digital assets are not legal tender means that no central bank can take corrective measures to protect the value of digital asset, or issue more currency. Digital assets are a relatively new innovation, and the markets for such assets is subject to rapid price swings, changes and uncertainty. Changes in the regulatory or legal landscape may negatively impact the operation of a digital asset’s network or restrict the use of such assets. The actualization of any of these risks could cause a decline in the acceptance of the digital assets and, consequently, their values. Regulation of digital assets and related products is unsettled and rapidly changing. The effect of regulatory and legal risk is that a digital asset or related product may decrease in value or lose all of its value due to legal or regulatory change. This may affect the value or potential profit of a transaction in digital asset or related product. Digital asset investments have been subject to significant price volatility. The values of the digital assets may fluctuate significantly over a short period of time. The volatile and unpredictable fluctuations in price may result in significant losses over a short period of time. Digital assets usually are not backed by any tangible assets. Such digital assets would be merely speculative investments and their prices can fluctuate greatly within a short period of time. The digital assets could be rendered worthless and investors may stand to lose all of their investments. Any digital asset may decrease in value or lose all of its value due to various factors including discovery of wrongful conduct, market manipulation, change to the nature or properties of the digital asset, governmental or regulatory activity, legislative changes, suspension or cessation of support for a digital assets or other exchanges or service providers, public opinions, or other factors outside of our control. The value of a digital asset or related product could decline significantly and without warning. The above risks associated with digital assets is non-exhaustive. Investors should seek professional and expert advice before assessing investment in digital assets. Investors should be prepared to lose part of, or even their entire investment.

Trading in digital assets and related products and using digital asset related services involve risks, sometimes the risks could be significant. These risks, and additional risks arising either now or in the future, could result in the loss, failure or destruction of your assets, inability to receive any benefits available to you, other losses and termination of our products and services. You must consider carefully whether the applicable risks involved are acceptable to you prior to conducting any transaction of digital assets and related products. You must seek professional advice regarding your particular situation before trading in digital assets and related products or using digital asset related services. The risk of loss in transactions involving digital assets and related products can be substantial. You should therefore carefully consider whether such transactions are suitable for you in light of your investment objectives, financial circumstances, your tolerance to risks and your investment experience. You should be capable of bearing a full loss of the amounts invested as a result of or in connection with any transaction of digital assets and related products and any additional loss over and above the initial amounts traded or invested that may become due and owing by you.

To the fullest extent permitted under applicable laws and regulations, Revo Group shall not be liable for any loss or damage howsoever arising as a result of any person acting or refraining from acting in reliance on any information, opinion, prediction or valuation contained herein. Revo Group involved in the issuance of this document may have an interest in the products mentioned in this document including but not limited to, marketing, dealing, holding, performing financial or advisory services, or acting as a manager of persons mentioned in this document. Revo Group may have issued other reports, publications or documents expressing views which are different from those stated in this document and all views expressed in all reports, publications and documents are subject to change without notice.