Digital Asset Risk Disclosure

Digital assets involve substantial risk and may experience significant price volatility. Prices may increase or decrease rapidly, and users may lose some or all of the funds committed to a transaction.

Market prices may move adversely and without warning.

Digital-asset prices can change rapidly over short periods.

An asset or position may not be executable or closable at the expected price or time.

Instructions may be delayed, rejected, fail or execute differently from an indicative price.

Software, hardware, connectivity or integration failures may affect access or transaction processing.

Accounts, devices, networks and service providers may be targeted by malicious activity.

Congestion, reorganization, protocol changes or network failure may delay or prevent transactions.

Where custody applies, loss, access restrictions or provider failure may affect assets.

A stablecoin may lose its intended reference value or face issuer, reserve, liquidity or redemption risk.

A party relied upon for a transaction or service may fail to perform.

Rewards are estimates and may be affected by lock periods, validator performance, protocol rules, fees or slashing where applicable.

Where smart contracts apply, defects, exploits or unexpected behavior may result in loss.

People, processes, systems or external events may interrupt or impair service.

Legal or regulatory change may affect availability, eligibility, assets or services.

Where leverage applies, gains and losses may be amplified.

Where liquidation applies, a position may be closed automatically and losses may occur rapidly.

Market data, networks, protocols and other services may depend on third parties.

Maintenance, outages or exceptional conditions may restrict access or processing.

Events outside reasonable control may delay or prevent performance where applicable.