Focus of this article:
DWF Labs' business scope includes market making, venture capital and over-the-counter trading.
DWF Labs continues to invest when market conditions are poor and currently invests in a total of approximately 140 crypto projects.
DWF Labs has continued to be controversial. The price of investment tokens has skyrocketed and plummeted, and it is suspected of manipulating the market.
DWF Labs is famous for its high frequency and large sums of money invested in crypto projects in the deserted market conditions. After the project is announced for investment, the short-term price of the tokens tends to rise and fall sharply, which also leads to investors in the market to have a negative attitude towards Dwf Labs. Love and hate it.
What is DWF Labs | Introduction
DWF Labs was officially launched by Web3 venture capital and market maker Digital Wave Finance in September 2022. According to the DWF Labs official website, they position themselves as a "global crypto asset market maker and multi-stage Web3 investment company", providing market making , OTC trading and venture capital services, and has offices in Singapore, Switzerland, the British Virgin Islands, the United Arab Emirates, South Korea and Hong Kong.
Not only that, DWF is one of the world's largest high-frequency cryptocurrency traders, with partners including Binance, ByBit, KuCoin, OKX, Gate, Crypto.com and Huobi, etc., conducting spot and derivatives markets on more than 40 top exchanges trade.
DWF Labs team members
DWF Labs currently has about 40 employees. When you open the team member page of the official website, you can see faces from different countries, but Asians make up the majority. This is related to the fact that nearly half of the offices are located in Asia (Singapore, Hong Kong and South Korea), and it also represents The development direction of DWF Labs is mainly facing the Eastern market.
Managing Partner: Andrei Grachev
Obtained a master's degree in business management from Orenburg State University in Russia in 2014. In 2015, he joined the Russian e-commerce company ulmart. In 2017, he entered the cryptocurrency industry full-time and served as the chief executive officer (CEO) of Huobi Russia in 2018. Then he joined DWF Labs (should be the parent company Digital Wave Finance), and his current position is managing partner.
DWF Labs still had the courage to invest when the market conditions were poor, starting with US$10 million. Andrei Grachev said in an interview with the currency circle media Coindesk on March 30, 2023: "We believe that in a bear market, it is the best time to invest."
Partner: Heng Yu Lee
A Singaporean, he graduated from the Department of Finance at Imperial College London in 2013. His first job was as an analyst at JPMorgan. He stayed in the UK for less than a year and then returned to Singapore to start a business. He founded multiple companies, mainly focusing on digital finance, In the fields of blockchain information security and smart contract auditing, he joined DWF Labs in May 2022 and became a partner.
DWF Labs Recent Portfolio
DWF Labs' investment scope is quite broad, with no specific main focus, including centralized finance, DAO community, data analysis tools, DeFi, ecosystem & services, infrastructure, Metaverse, GameFi and NFT, with a total of 141 investment projects. In such a miserable situation The market situation is quite astonishing, and it can be exaggerated to say that DWF Labs has almost bought a part of the currency circle.
(Source: https://allinstation.com/dwf-labs-la-gi-dau-tu-noi-bat/)
The following shares some of DWF Labs’ recent well-known investment projects:
Coin98: A multi-chain wallet created by a Southeast Asian team
Investment time: 2023.08.08
Investment round: Undisclosed
Investment amount: millions of dollars
Conflux Network: Hong Kong concept public chain currency
Investment time: 2023.06.28
Investment round: Undisclosed
Investment amount: US$18 million
Velo Labs: Building a compliant financial ecosystem
Investment time: 2023.06.26
Investment round: Undisclosed
Investment amount: US$10 million
RSS3: Web3 message dissemination protocol
Investment time: 2023.04.11
Investment round: ICO
Investment amount: US$10 million
CryptoGPT: AI boom project
Investment time: 2023.04.10
Investment round: Series A
Investment amount: US$10 million
Source: https://www.coincarp.com/investor/dwf-labs/
DWF Labs Past Controversies
Managing partner Andrei Grachev was exposed as a repeat fraud offender
In 2019, ForkLog, Russia’s largest encryption media, reported that Andrei Grachev was one of the accomplices of OneCoin, a $4 billion crypto Ponzi scheme. At that time, as the CEO of Russia’s Huobi, he wanted OneCoin to “exclusively "The listing on Huobi in Russia is suspected of fraud.
Grachev was also implicated in scamming another project, Export.Online, which aimed to create a blockchain platform for international trade. However, the project’s ICO was delayed and investors poured money into it without seeing any returns. People who have done business with him say his loans have not been repaid.
Andrei Grachev did not respond to various accusations.
The price of investment tokens has skyrocketed and plummeted, which is suspected of manipulating the market.
In early August 2023, after C98, YGG and DODO announced or DWF Labs invested, the price trend of tokens skyrocketed and plummeted, and high volatility could easily cause huge losses to retail investors. As a venture capital institution and a market maker, DWF Labs can’t help but be suspected of manipulating the market.
And we can find it in the disclaimer on the official website of DWF Labs:
"DWF OPTIONS LTD is a venture capital and proprietary trading company engaged in providing liquidity, investing and holding derivatives positions. However, it does not engage in the management of cryptocurrency assets or sovereign currencies and derivatives on behalf of third parties or investors or clients. or hosting.
In addition, DWF OPTIONS LTD is not authorized, exempted or regulated by any regulatory authority. It is currently under regulatory review but does not currently have any licensing or regulatory authorization. Any counterparty dealing with DWF OPTIONS LTD will not benefit from the protection of the various regulated entity schemes. "
The vernacular translation is: We are not regulated, you can do whatever you want, and don’t ask me for compensation.
Purchase CRV off-market, but secretly sell it?
In early August 2023, Curve, the cornerstone of DeFi, revealed that the founder was facing a repayment and liquidation crisis. If it happened, it would have a serious negative impact on the entire currency circle. Curve could only ensure that it would not be liquidated through over-the-counter CRV trading.
At that time, DWF Labs purchased 12.5 million CRV units for a total price of US$5 million at a price of US$0.4 each to help its founder tide over the difficulties. The two parties even agreed verbally that the CRV acquired over-the-counter must not be sold within six months. to avoid causing an impact on the market in the short term.
However, recently DWF Labs was found to have transferred 2 million CRV tokens on the chain to Binance, which made people wonder whether to cash out. In response to this situation, managing partner Andrei Grachev tweeted: "It is too early to sell now. Stupid, I am not doing it for liquidation, but for trading. When the plan is completed, I will transfer these CRVs back to the chain."
Summary: A cute and charming villain in the currency circle?
There are differences of opinion in the market regarding DWF Labs' investment strategies and behaviors. Some people believe that they are a pioneer and leader in the cryptocurrency market, while others believe that their actions are too radical and may cause instability to the market. No matter what, every step taken by DWF Labs has deeply affected the currency circle, making them an indispensable role.
DWF Labs may be the “villain” in the currency circle, but their existence undoubtedly brings vitality and excitement to the entire cryptocurrency market. How DWF Labs will develop in the future and how it will affect the overall market are topics worthy of our continued attention.
