The largest position is CRCL, buying the dip all the way down—really not easy. Over the past six months, the biggest takeaway might be that going against the market often works. Almost every moment of pessimism has turned out to be the best opportunity. Whether it was when BTC was around 45K, when HYPE dropped below 10, when Futu fell to 80 during domestic crackdowns, or when CRCL faced the so-called OUSD siege. The most beautiful flowers always bloom on the edge of the cliff.