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CMCC Global writes monthly to investors, sharing our views on market dynamics and demystifying this new asset class.

Here we share selected insights, exploring important topics in the blockchain ecosystem.

At the beginning of 2026, Genius (a core holding of our Digital Asset Funds) announced that YZi Labs was investing a “multi-8-figure” cheque into Genius. YZi Labs is the USD10bn family office of Changpeng Zhao (CZ), the founder of Binance and one of the wealthiest people on the planet.

Perpetual decentralized exchanges (perp DEXs) have proven product market fit over the last couple of years, generating USD7.9 trillion in volume in 2025, a 3x increase from 2024. The next step is for these exchanges to be regulated and compliant, which is where our portfolio company Rails is leading the way in the US.
The privacy narrative is seeing both a resurgence as well as a transformation within the digital asset ecosystem.
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Crypto markets offer a dizzying array of yield opportunities and understanding the intricate options available can provide investors with compelling sources of passive income. From the early days of double-digit “yield farming” APYs to today’s more measured “real yield” strategies, the landscape has matured.
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Over the last decade, while crypto has gained recognition and adoption as a new asset class, it has failed to infiltrate business in the way that many of us hoped that it would. This is changing, and we are seeing one platform being used again and again by businesses looking to enter web3: Avalanche.