Q: Could you kindly elaborate FUNDAMENTALLY why you already mothballed DEFI and not GLXY !
5i Research Answer:
GLXY is a larger name than DEFI, and has a longer history. We are also more comfortable with GLXY's diversified revenue mix (large opportunity in the AI data centre space), whereas DEFI is solely dependent on the crypto markets. In a risk-on environment, we think DEFI can outperform GLXY given its smaller size, and more concentrated exposure on the crypto space, but in a risk-off environment, we sought to de-risk some of the 'total' crypto exposure in the growth model portfolio, and raise cash ahead of what could be better opportunities in the market.