The family office last month appointed Jeffrey Ma and Peter Huo as co-chief investment officers of Whampoa Digital. Huo was most recently executive director at Binance Labs, the venture capital arm of crypto exchange Binance, while Ma was previously global head of mergers and acquisitions for digital-asset exchange Huobi.
The increasing use of decentralized finance, non-fungible tokens, blockchain games and decentralized social networks “will enable digital assets to outperform other asset classes in the coming cycle and over the long-run,” Huo said in emailed comments. Still, the sector is expected to continue to be volatile this year, affected by monetary and macroeconomic developments, he said.
Digital assets have had a rough time over the past year, with high-profile blowups like the Terra/Luna ecosystem, as well as collapses of hedge fund Three Arrows Capital and the FTX exchange. Crypto prices have tumbled. Web3 itself, while held out as a promising concept, has also suffered alongside more-established crypto ideas.
Meanwhile, regulators around the region are evaluating their stance toward the sector, trying to balance between encouraging development in blockchain technologies and protecting retail investors from crypto trading volatility.
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Family offices tend to be less regulated than standard firms and are among the bigger players that have been looking to get into alternative investments.
