Understand the risks.

All investing involves risk. You may lose some or all of your invested capital. Digital assets, illiquid investments and leveraged positions can involve particularly significant losses.

1. Scope of this disclosure

This is a general, non-exhaustive explanation of risks relevant to the activities described on this website. Not every risk applies to every service, and further risks may arise. It is not a suitability assessment, offering document or substitute for the documents and advice relevant to a particular investment. Website access does not confirm eligibility or availability.

2. Market, strategy and capital risk

Prices can fall sharply because of economic conditions, interest rates, sentiment, political events or changes in supply and demand. Research, models and investment judgements may be wrong. Concentrated positions increase exposure to individual losses; diversification may fail when correlations rise. Assets under management and institutional processes do not guarantee performance or protect capital.

3. Liquidity, valuation and fund interests

An asset may be difficult or impossible to sell at an expected price. Trading can be suspended and quoted values may differ from executable prices. Private and thinly traded assets can be difficult to value objectively. Where applicable, fund documents may impose lock-ups, notice periods, gates, suspension rights or other redemption restrictions. Fees, expenses and transaction costs reduce returns.

4. Digital assets and technology

Digital asset markets can be highly volatile, fragmented and subject to manipulation. Tokens can become worthless. Network outages, congestion, protocol changes, forks, smart-contract defects, exploits and cyberattacks can cause loss or prevent access. Stablecoins can lose their intended peg; reserve, issuer and redemption arrangements can fail. Token ownership does not necessarily confer an enforceable claim to underlying assets.

5. Custody and counterparties

Loss or compromise of private keys may permanently remove access to assets. Blockchain transfers may be irreversible; an incorrect address or network may result in permanent loss. Exchanges, custodians, banks, issuers and other counterparties may suffer operational failures, insolvency, fraud or security breaches. Ownership, segregation and recovery of assets depend on the applicable arrangements and law. Deposit insurance or investor compensation may be unavailable.

6. OTC execution and settlement

OTC transactions can expose participants to counterparty default, settlement delay, disputed instructions and execution risk. Indicative prices may change before acceptance and may include spreads, fees or other costs. Large orders and limited liquidity can affect prices. A transaction can fail even after one party has transferred funds or assets. Confirm the counterparty, agreed price, settlement network, fees and delivery terms through an agreed secure process before proceeding.

7. Asset management and multi-asset exposure

Allocation and timing decisions may underperform expectations or benchmarks. Currency movements can change the value of foreign investments. Where permitted and used, leverage, borrowing and derivatives can magnify losses, create margin calls and force liquidation; some obligations can exceed the original amount invested. Venture and private-market investments may involve long holding periods, dilution, limited information and complete loss.

8. Real estate and advisory

Real estate can be illiquid and exposed to valuation changes, financing costs, tenant default, vacancy, construction delays, environmental issues and legal or title defects. Taxes, transaction costs and maintenance can materially affect returns. Local rules and cross-border ownership restrictions vary. Advisory work cannot guarantee a purchase, sale, financing outcome, rental yield or capital appreciation. Independent legal, tax, technical and property due diligence may be necessary.

9. Operational risk and conflicts

Human error, failed controls, service-provider outages and cyber incidents may affect execution, records or access to assets. Conflicts may arise from compensation, affiliations, holdings or the allocation of opportunities. Relevant conflicts and their treatment should be addressed in the disclosures and agreements for the specific service; no absence of conflicts is implied by this website.

10. Legal, regulatory and tax risk

Laws, sanctions, interpretations and tax treatment can change, including retrospectively in some circumstances. A product or activity may be restricted or unavailable in your jurisdiction. Cross-border enforcement and recovery may be difficult. Your own tax obligations depend on your circumstances. Obtain qualified advice and review the excluded jurisdictions before considering an engagement.

11. Fraud and decision-making

Impersonation, phishing, social engineering and fraudulent investment offers can result in permanent loss. Never share seed phrases or private keys, and independently verify any payment or settlement instructions. Past performance, forecasts and targets do not assure future results. Do not invest money you cannot afford to lose.

For questions about this disclosure, contact legal@wavioncapital.com. This email is not an order-placement or trade-confirmation channel.