Risk Disclosure

Digital asset trading involves substantial risk, including the potential loss of the entire invested capital. This disclosure summarizes key risks of the Highstake strategy. It is not exhaustive; the full risk factors and terms applicable to any investment are set out in the managed-account or subscription agreement (the "Investment Agreement").

01No guarantee of results

Past performance is not indicative of future results. Historical and target figures are illustrative only and provide no assurance of future returns. Returns may be volatile, and you may lose some or all of your capital. No representation is made that the strategy will achieve its objectives or avoid losses.

02Market & volatility risk

Digital asset markets are highly volatile and can move sharply and without warning, including during periods of low liquidity, news events, or broad risk-off conditions. Prices may gap. Headline maximum drawdown figures reflect realized losses; intraday and notional-equity excursions may exceed headline figures.

03Strategy & model risk

The strategy is systematic and counter-trend in nature. It relies on quantitative models, assumptions, and historical relationships that may fail to hold in changing market regimes. A market-neutral or non-correlated profile in past periods does not guarantee the same behavior in the future. Benchmark comparisons (such as BTC or the S&P 500) are shown for directional context only and do not imply a hedge against those benchmarks.

04Leverage risk

The strategy may use leverage. Leverage can magnify both gains and losses, increase sensitivity to adverse price moves, and lead to forced liquidation of positions under stressed conditions.

05Counterparty & exchange risk

Trading is conducted on third-party venues and through third-party infrastructure. These counterparties may experience insolvency, security breaches, withdrawal freezes, outages, or regulatory action that could impair access to, or the value of, assets. Custody arrangements carry their own risks notwithstanding client-controlled account structures.

06Operational & technology risk

Automated execution depends on software, connectivity, exchange APIs, and data feeds. Failures, latency, bugs, or interruptions in any of these, as well as cyber-security incidents, could result in missed trades, unintended exposure, or losses despite circuit-breaker and risk-gating controls.

07Liquidity & capacity risk

Liquidity in certain instruments may be limited, particularly during stress, affecting the ability to enter or exit positions at expected prices. Strategy capacity is finite; performance may degrade as assets under management grow.

08Regulatory & legal risk

The regulatory treatment of digital assets is evolving and varies by jurisdiction. Changes in law, regulation, or enforcement could adversely affect the strategy, its venues, or your ability to participate. Highstake LLC is not registered as an investment adviser in any jurisdiction and operates on a private-placement basis available only to qualified allocators meeting the minimum allocation threshold.

09Fees

Returns shown are net strategy returns after trading, funding, and commission costs and, unless otherwise stated, before performance fee. A tier-based performance fee applies to realized profits. Fees reduce net returns; full fee terms are set out in the Investment Agreement.

10No advice

Nothing on the Site or in our materials is investment, legal, tax, or accounting advice, or a recommendation to enter into any transaction. You should consult your own professional advisers and make your own assessment before investing.