a16z Frontier is the frontier technology investment business of U.S. venture capital firm Andreessen Horowitz (a16z), renamed from a16z Crypto. It focuses on startups developing new technologies, creating new markets, and potentially requiring years to achieve scale. On October 22, 2026, a16z announced that it would expand the investment scope of its new fund from crypto startups to a broader range of frontier technology companies. The fund will continue to be led by Chris Dixon, with Marc Andreessen, Ben Horowitz, Eddy Lazzarin, and Guy Wuollet participating in its management. This adjustment does not represent an exit from crypto. Instead, it incorporates blockchain into a broader technology investment framework.
This change comes as artificial intelligence, blockchain, and emerging computing devices increasingly converge. In the past, internet companies could generally be categorized by their underlying technologies or business types, such as social networks, cloud computing, cryptocurrency, or AI applications. But as stablecoins enter financial technology services, AI Agents begin performing complex tasks, and smart hardware gains autonomous sensing and decision-making capabilities, the boundaries between technologies are becoming blurred. The next generation of technology companies may use multiple technologies at the same time, while their commercial value will ultimately depend on what products and markets those technologies can create.
The strategic adjustment at a16z Frontier reflects how venture capital firms are reconsidering how the next wave of technological innovation will emerge. From early internet software and mobile computing devices to blockchain networks and generative AI, many technologies with lasting influence initially lacked mature business models. Chris Dixon's focus on native applications, full-stack startups, and machine-age networks provides a new framework for understanding the next stage of AI and Web3 development.
a16z Frontier is the frontier technology investment business renamed from a16z Crypto. On October 22, 2026, Andreessen Horowitz announced that it would expand the investment scope of its new fund from crypto startups to more frontier technology companies developing new technologies and creating new markets.
The renaming does not mean that a16z is exiting the crypto industry. The fund will continue investing in blockchain and related companies and participating in discussions on crypto regulatory policy. The main change is the expansion of its investment targets and technology research scope.
Investment logic is shifting from technology classification to the ability to create products and markets. As blockchain gradually becomes underlying infrastructure for financial technology and internet services, the technologies used by a company are no longer sufficient to accurately explain its commercial value.
AI-Native Applications are an emerging area worth watching. Rather than focusing only on using AI to improve existing workflows, a16z Frontier is more interested in products that were previously impossible to build and may create entirely new user behaviors and market demand.
Full-Stack Startups may become an important company structure in the next technology cycle. AI is lowering the barriers to software development and gradually influencing hardware design and operations, enabling companies to integrate software, hardware, and services to create new competitive advantages.
Machine-Age Networks may change how the internet is organized. Future networks may connect not only human users but also AI Agents capable of learning, collaborating, producing, and transacting, while blockchain could provide these networks with native economic capabilities.

a16z Frontier is the new name for Andreessen Horowitz's strategically expanded crypto investment business. Compared with a16z Crypto, which previously focused primarily on cryptocurrency, blockchain infrastructure, and Web3 applications, the new fund expands its focus to Frontier Startups, particularly companies that use new technologies to develop products, create new markets, and may require a longer period to achieve commercialization.
In its official explanation, a16z clearly positioned the adjustment as an expansion of its investment scope rather than a withdrawal from the crypto industry. The fund will continue investing in crypto and related companies and participating in discussions on sound crypto regulatory frameworks. At the same time, its research and investment perspective will no longer be limited by the crypto industry label. Instead, it will also cover AI-Native Applications, autonomous machines, emerging computing devices, and other technology areas that do not yet fit into mature market categories.
The core reason behind the renaming is that blockchain technology is moving from a relatively independent industry into broader commercial applications. Early crypto companies typically had clear industry characteristics, such as issuing tokens, developing public blockchains, operating wallets, or building decentralized protocols. But as Wall Street institutions and financial technology companies begin launching blockchain-based products, it is becoming increasingly difficult to determine whether a company is a crypto company based solely on the technology it uses.
For example, a cross-border payments company may use stablecoins for international settlement, while its core business remains payment services. An asset management firm may use blockchain to issue tokenized fund shares, while customers are still purchasing financial products. In these scenarios, blockchain serves as infrastructure rather than the company's primary market identity. Therefore, a16z Frontier places greater emphasis on defining investment targets based on the products and services a company actually provides, rather than solely on the technology it uses.
The primary differences between a16z Crypto and a16z Frontier lie in their investment scope, research perspective, and project evaluation logic. a16z Crypto centers on the crypto industry and focuses on the development of blockchain networks, digital assets, and decentralized applications. a16z Frontier incorporates these areas into a broader frontier technology framework and examines whether the combination of different technologies can create new product forms and market demand.
| Comparison Dimension | a16z Crypto | a16z Frontier |
|---|---|---|
| Core Positioning | Crypto and blockchain investment | Frontier technology and emerging market investment |
| Investment Scope | Public blockchains, DeFi, wallets, crypto infrastructure, and more | Retains crypto investments while expanding into AI, autonomous machines, and other areas |
| Technology Perspective | Primarily studies the blockchain ecosystem | Focuses on cross-technology integration and new product categories |
| Research Focus | Open networks, digital assets, and on-chain applications | Native applications, Full-Stack Startups, and Machine-Age Networks |
| Commercialization Logic | Blockchain network development and ecosystem adoption | Whether new technologies can create new activities, products, and markets |
| Investment Horizon | Includes long-term infrastructure investments | More explicitly focuses on frontier technologies that may require years to develop |
| Position on Crypto | Crypto as the primary investment area | Continues investing in crypto while expanding its coverage |
This change does not mean that a16z Frontier will stop focusing on public blockchains, DeFi, or other crypto infrastructure. Instead, it means that investment decisions do not have to begin with industry classification. In the past, an investment firm might first determine whether a project belonged to Web3 and then analyze its tokenomics, user growth, and ecosystem development. Under the new investment framework, it may first examine whether a technology has created new demand and whether a company can build a sustainable business model around that demand.
It is worth noting that a16z Frontier has not disclosed specific capital allocation ratios among different technology sectors. Therefore, it would be inappropriate to simply infer that it will reduce crypto investment and increase AI investment in the future. A more accurate interpretation is that the fund has expanded the range of potential investment targets, allowing crypto technologies to be studied within the same framework as other frontier technology projects.
The strategic direction of a16z Frontier did not emerge suddenly. It continues Chris Dixon's longstanding investment approach of focusing on long-term technological change. After joining a16z in 2013, Chris Dixon made emerging technologies that had not yet entered the mainstream but could form important industries in the future a key area of research. At that time, his two primary areas of focus were emerging computing devices and crypto networks.
The development of emerging computing devices was closely tied to the maturation of the smartphone industry. As smartphones became widely adopted, the performance of cameras, sensors, chips, and other electronic components continued to improve, while manufacturing costs gradually declined. These technological advances, originally developed for mobile devices, created new conditions for drones, augmented reality, virtual reality, and wearable devices. Related investments included Oculus, as well as drone companies Skydio and Zipline.
Crypto networks represent another path of technological development. Chris Dixon views them as a new wave of network innovation built on social media and the open-source software movement. Social media enabled users to form communities without traditional institutional approval, while open-source software allowed developers to inspect, modify, and build software together in public. Blockchain extended this open collaboration mechanism from software to services and networks, enabling different participants to conduct economic activities around shared protocols.
This view led to early investments in companies such as Coinbase and influenced the creation of subsequent crypto funds, as well as interest in projects such as Solana and Uniswap. Although emerging computing devices and blockchain differ significantly from a technical perspective, they share common characteristics: their early application scenarios were limited and their business models were immature, but they could form new product categories as infrastructure improved.
Therefore, the core investment logic of a16z Frontier is not to pursue a particular popular technology. It is to identify long-term trends in which technological capabilities continue to improve and determine when those trends may give rise to new markets. This approach requires investors to understand not only the value of current products but also how technology performance, cost, and user experience may change in the future.
AI-Native Applications are products and activities built around artificial intelligence capabilities that create things that were previously difficult or impossible to achieve, rather than simply adding AI to traditional software. In a16z Frontier's strategic explanation, Chris Dixon emphasizes that new technologies are often initially used to improve existing activities, but their most significant long-term opportunities may come from entirely new Native Use Cases.
This concept can be understood through the development of the internet and mobile computing. One important early internet application was moving news, product catalogs, and offline services online, making information access and transactions more convenient. As the internet became more widespread, however, search engines, social media, and online platforms emerged and created user behaviors that had previously been difficult to support. Smartphones went through a similar process: they initially improved mobile communications and web browsing, but later gave rise to mobile payments, ride sharing, short-form video, and location-based services.
Most current AI applications still focus on improving the efficiency of existing work, such as coding assistance, document processing, customer service, and information analysis. These applications have clear commercial value, but they are still primarily performing tasks that already existed. As model capabilities, reasoning efficiency, and tool-use capabilities continue to improve, AI may gradually support entirely new activities, such as multiple agents collaborating on complex projects, personalized services that run continuously for each user, or digital systems that autonomously adjust their behavior based on changes in the real-world environment.
The commercial value of native applications is often difficult to assess accurately at an early stage. Some products may initially appear to be entertainment tools, niche hobbies, or technical experiments, with limited user numbers and unclear revenue models. But if the underlying technology continues to improve and costs continue to decline, products that initially serve only a small number of people may gradually enter the mainstream market.
Therefore, identifying AI-Native Applications requires more than determining whether a product is interesting today. It also requires analyzing whether its capabilities will continue to improve, whether its costs have room to decline, and whether technological improvements can create new user demand. For venture capital firms, this assessment is more complex than simply comparing current revenue or user numbers and also involves greater uncertainty.
One core challenge in frontier technology investing is determining whether products that appear limited in scale at an early stage have long-term potential. Traditional business analysis typically focuses on current market size, revenue growth, and user numbers. For immature technologies, however, these metrics may not fully reflect future potential. A product with only a small number of users today may have insufficient demand, or it may simply have not yet reached the level of performance, cost, or user experience required for broad adoption.
Chris Dixon emphasizes that understanding the potential rate of improvement in technology and products is an important factor in distinguishing short-term experiments from long-term opportunities. Some technologies appear to improve very slowly in their early stages, but their practical usability may change significantly as computing power, algorithmic efficiency, manufacturing processes, and infrastructure continue to improve. Technological progress does not necessarily lead to exponential growth. However, when declining costs and improving performance together cross a threshold for a particular application, market demand may expand rapidly.
The development of AI provides an example worth observing. Early generative AI products had clear limitations in accuracy, response speed, and cost, so many companies primarily used them for assistive tasks. As model capabilities improve, inference costs decline, and tool-use mechanisms become more effective, some applications are beginning to meet the requirements for executing complex workflows. Tasks that previously required continuous human supervision may gradually shift toward AI performing the main steps, with humans providing authorization and final confirmation.
However, technological improvement does not guarantee commercial success. Even if a technology's performance continues to improve, a product may still face insufficient customer demand, intense competition, regulatory constraints, or an unviable business model. Therefore, the long-term investment logic emphasized by a16z Frontier does not assume that every frontier technology will succeed. Instead, it attempts to identify areas where technological improvements may reshape market structures.
Full-Stack Startups do not provide only a single software tool or technology component. Instead, they integrate software, hardware, operations, and services to deliver complete products or solutions directly. Compared with traditional models that rely on multiple third-party suppliers for different stages, full-stack companies can control more key processes, optimize user experience, reduce coordination costs, and establish differentiated competitive advantages.
In the past, developing complex products generally required large engineering teams, specialized equipment, and substantial long-term research and development investment. As AI coding tools, automated design software, and smart manufacturing technologies mature, the barriers to some software development and hardware design work may decline. Startups may be able to complete more development tasks with smaller teams and integrate product capabilities that were previously distributed across different suppliers.
Robotics companies are a typical example of this model. Developing autonomous robots requires not only AI models but also sensors, mechanical structures, control systems, equipment maintenance, and real-world operations. If a company provides only one technical module, it may be constrained by other suppliers. If it can integrate software, hardware, and services, it may be able to optimize the entire system around specific customer needs. For example, the competition among robotic services for warehousing, delivery, or infrastructure inspection may ultimately depend not on the performance of a single algorithm but on task completion efficiency, equipment reliability, and overall operating costs.
AI may also change how startups are organized. As Agents gradually gain the ability to perform tasks autonomously, companies may use fewer employees to complete some software development, market research, customer support, and internal management tasks. This does not mean that all companies can reduce operating costs indefinitely. Complex businesses still require professional judgment, quality control, compliance management, and real-world execution capabilities.
The full-stack model also involves clear risks. Companies must take on more responsibility for research and development, supply chains, delivery, and customer service. Their capital requirements and operational complexity may therefore be greater than those of pure software companies. Their long-term competitiveness depends on whether integrating different stages genuinely improves product value, rather than simply expanding the scope of business activities they control.
Machine-Age Networks are new types of network structures in which humans, AI Agents, and smart devices participate together and can learn, collaborate, produce, and transact. Unlike traditional internet platforms designed primarily around human users, these networks may allow software agents and autonomous machines to become direct participants that discover services, exchange information, execute tasks, and conduct economic activities within defined permissions.
Most large networks on today's internet are based on human behavior. For example, social platforms connect users and distribute content, e-commerce platforms connect buyers and sellers, and collaboration software helps teams work together. The development of AI Agents may change this organizational structure. When Agents can perform tasks continuously, some participants in a network may no longer be humans directly operating interfaces, but software systems running on behalf of users or companies.
For example, an AI Agent responsible for corporate procurement may obtain quotes from different service providers, compare delivery terms, and submit procurement recommendations. An Agent responsible for data analysis may call multiple external data sources and purchase specific analytical capabilities from other specialized Agents. If these systems can collaborate under clear authorization and security constraints, they may form new service networks.
Chris Dixon is particularly interested in a development path in which new networks initially appear as tools for individual users and then gradually evolve into networks with multiple participants. Early products first attract users by solving individual problems. As more users or Agents join, the products gradually generate collaboration, transactions, and network effects. This resembles how some internet platforms evolved from single-purpose tools into large networks.
The potential of Machine-Age Networks lies not only in improving the efficiency of existing platforms but also in creating new forms of market participation. In the future, Agents may become buyers, providers, or coordinators of services, allowing some transactions to take place without humans handling each step directly. However, these networks still need to address identity verification, permission management, task reliability, transaction liability, and security controls. Large-scale mature applications remain subject to significant technical and institutional challenges.
The potential value of blockchain in Machine-Age Networks lies primarily in providing digital systems with open, global, and programmable economic capabilities. Traditional internet infrastructure can transmit information efficiently, but payments, settlement, and asset management between different platforms typically depend on banks, payment institutions, and internal platform accounts. Blockchain allows eligible participants to transfer digital assets through shared networks and use smart contracts to execute predefined rules.
Stablecoins are one of the more direct applications. Because most stablecoins are denominated with reference to fiat currencies, they can reduce, in some scenarios, the uncertainty associated with using highly volatile crypto assets for payments. If an AI Agent needs to purchase data, call an API, pay for computing resources, or settle service costs with another Agent, a stablecoin may be an available payment tool. Programmable payments can also be integrated with task execution workflows, allowing systems to trigger payments or distribute revenue when predefined conditions are met.
However, machine-to-machine transactions do not necessarily require every operation to be recorded directly on a public blockchain. For high-frequency, low-value service calls, on-chain fees, network throughput, and settlement delays may affect practical efficiency. Companies can choose traditional payment networks, internal platform accounts, off-chain payment channels, or blockchain settlement based on their needs. Whether blockchain offers an advantage must be determined by the specific business's cost, performance, security, and compliance requirements.
In addition to payments, blockchain may help new networks establish native economic mechanisms. Multiple independent participants could provide computing power, data, or other services through open protocols and distribute revenue according to agreed rules. Compared with structures that depend entirely on a single platform, this model may lower some collaboration barriers, but it also needs to address network governance, incentive design, and participant liability.
In its strategic explanation, Chris Dixon emphasizes that blockchain can provide native economic capabilities for new types of networks, support transactions between machines, and help networks establish mechanisms for early participation. This is also why a16z Frontier continues to value crypto technology despite expanding its investment scope. The future value of blockchain may not lie only in standalone crypto applications. It may also lie in the payment, asset, and collaboration infrastructure underlying other technology products.
Traditional internet business models primarily center on advertising, subscriptions, transaction commissions, and platform services. Platforms typically manage users, distribute information, and coordinate transactions. Blockchain networks introduce open protocols, digital assets, and programmable incentives, enabling different participants to collaborate on shared infrastructure. As AI Agents gradually participate in economic activities, future internet business models may expand from direct purchases by human users to automated service calls and settlement between intelligent systems.
This change may create new billing methods. Traditional software typically charges based on the number of users, subscription periods, or enterprise licenses. Services designed for AI Agents may place greater emphasis on completed tasks, computing resource usage, the number of data calls, and execution results. For example, an Agent may temporarily purchase a specific service based on its actual needs rather than maintain a long-term subscription to an entire software platform.
At the same time, AI may reduce software production costs, making some general-purpose functions easier to replicate. As development tools become more widely available, companies' competitive advantages may shift from software functionality alone toward unique data, customer relationships, network effects, real-world operating capabilities, and the efficiency of integrating software, hardware, and services. For Machine-Age Networks, the ability to attract more high-quality participants and establish reliable transaction mechanisms may also become an important competitive factor.
However, network expansion does not automatically create greater commercial value. If Agents lack genuine demand or transactions depend primarily on subsidies, frequent network activity may still fail to produce sustainable revenue. New types of networks must continue to demonstrate that their services provide real value and meet user requirements for security, cost, and reliability.
Therefore, the shift from crypto networks to AI networks is not merely an upgrade to technology infrastructure. It may also change product design, pricing models, and the competitive structure of companies. a16z Frontier's focus on these opportunities reflects the expansion of its investment research from a single technology ecosystem to broader ways of organizing the digital economy.
The renaming of a16z Frontier does not directly indicate that the crypto industry has lost its investment value. The firm has explicitly stated that the fund will continue investing in crypto and related companies and participating in discussions on sound regulatory frameworks. The adjustment more accurately reflects the changing boundaries of blockchain applications: crypto technology no longer serves only an independent Web3 ecosystem and is also being used by financial institutions, technology companies, and other industries for payments, asset management, and network collaboration.
Many early crypto projects centered primarily on token economics, network incentives, and decentralized infrastructure. As the market matures, enterprise customers and everyday users are paying more attention to actual product experience, such as payment convenience, asset management security, reasonable transaction costs, and regulatory compliance. In these scenarios, blockchain may gradually become back-end infrastructure rather than the primary product marketing concept.
This shift may also affect how Web3 startups raise financing. In the past, some projects relied primarily on token issuance, community incentives, and ecosystem subsidies to drive early growth. In the future, companies seeking broader commercial markets will need to further demonstrate customer demand, revenue sources, unit economics, and long-term competitive advantages. For companies providing stablecoin payments, tokenized assets, or on-chain financial infrastructure, traditional financial technology companies may also become customers, partners, or competitors.
Therefore, a16z Frontier's strategic adjustment is better understood as the integration of the crypto industry with other technology sectors rather than the end of crypto investment. Whether blockchain can play an important role in the next technology cycle will ultimately depend on whether it can solve real problems, not whether it continues to be classified as a standalone crypto industry.
The a16z Frontier investment framework raises an important question for founders: Is the company using new technology to improve an existing product, or is it using technology to create activities that were previously impossible? Both directions can create commercial value, but they correspond to different market sizes, competitive structures, and product development paths.
For AI founders, simply connecting a product to a large language model does not make it an AI-Native Application. The key questions are whether AI can change how users complete tasks, whether it can create new demand for services, and whether the product experience will change fundamentally as technological capabilities continue to improve. If a product offers only easily replicated general-purpose functions, it may face significant competitive pressure.
For Web3 founders, blockchain should not be merely a technical label. Whether the project involves stablecoin payments, on-chain asset management, or open networks, it needs to explain why blockchain can provide a better user experience, cost structure, or collaboration capability. Especially in applications for financial institutions, enterprises, and everyday consumers, product reliability, compliance, and commercialization capabilities are often more important than the technology narrative.
Projects involving both AI and blockchain should avoid combining technologies simply for the sake of combination. AI Agents do not necessarily need blockchain, and blockchain networks do not necessarily need AI. The combination of the two technologies may create independent commercial value only when an Agent's autonomous execution capabilities clearly complement programmable payments, open settlement, or network collaboration.
From a longer-term perspective, founders also need to pay attention to the speed of technological improvement. Some products may lack a mature market at an early stage, but if performance, cost, and usability continue to improve, they may gradually create new demand. Conversely, even if a technology concept receives significant attention, it will be difficult to build a sustainable business model if it cannot solve real problems.
Determining whether a16z Frontier's strategic adjustment will have a lasting impact requires continued observation of its actual investment portfolio, rather than just its fund name or public statements. The industry distribution of new investments will be worth watching first, including AI-Native Applications, autonomous machines, emerging computing devices, and crypto infrastructure. Future investment cases will more clearly show how a16z Frontier defines frontier technology and whether there are actual synergies among different technology areas.
The commercialization progress of AI-Native Applications is another area to watch. Many current AI products remain focused on assisting with existing work, while applications that can create entirely new user behaviors and market demand are still in the exploration stage. As model capabilities improve, inference costs decline, and tool-use capabilities strengthen, some experimental products may gradually develop stable customer bases. Their revenue models and competitive advantages will still need to be validated.
The development of Machine-Age Networks is a third area of interest. Whether AI Agents can evolve from tools that perform tasks independently into network participants capable of collaborating, exchanging services, and conducting transactions will affect demand for related infrastructure. If these networks mature, new commercial opportunities may emerge in digital identity, permission management, programmable payments, and service verification.
Finally, adoption of blockchain in non-crypto applications will be important to monitor. If stablecoins, on-chain settlement, and open networks can provide clear advantages in financial technology, enterprise services, and AI applications, this will further demonstrate that blockchain is becoming a more general-purpose technology infrastructure. These applications will still need to undergo real-market testing in terms of cost, performance, security, and regulation.
The long-term significance of a16z Frontier does not lie in whether it accurately predicts the growth of a particular industry. It lies in whether it can continue identifying product changes created by improving technologies and finding companies capable of building sustainable businesses around those changes.
a16z Frontier is the new name adopted for the former a16z Crypto after Andreessen Horowitz announced the expansion of its investment scope on October 22, 2026. The renaming does not mean an exit from the crypto industry. Instead, it expands the investment perspective from blockchain and digital assets to AI, robotics, emerging computing devices, and other frontier technologies that may require years to mature.
The core of this strategic adjustment is a shift from technology classification to product and market creation capabilities. As blockchain gradually enters financial technology and enterprise services, and AI evolves from an assistive tool into an autonomous execution system, future technology companies may combine software, hardware, payment networks, and smart devices. Industry labels such as Web3, AI, or robotics alone are no longer sufficient to fully describe these companies' business models.
Chris Dixon's focus on native applications, Full-Stack Startups, and Machine-Age Networks reflects his long-term technology investment approach: important opportunities may come not only from improving existing activities but also from entirely new behaviors and markets created by new technologies. Blockchain may provide native economic capabilities in this process, giving Agents and machine networks payment, settlement, and collaboration mechanisms. Its actual value will still need to be validated through specific applications.
For Web3 and AI founders, the emergence of a16z Frontier reflects a future in which competition may place greater emphasis on genuine demand, product experience, and long-term commercialization capabilities. Technology itself remains important, but the ability to turn technological progress into new products, services, and markets will be key to assessing a company's value.
a16z Frontier is the frontier technology investment business of Andreessen Horowitz, renamed from a16z Crypto. It focuses on crypto, AI, autonomous machines, emerging computing devices, and other technologies that may create new markets.
As blockchain enters financial technology and traditional business services, the technology a company uses can no longer fully define its business. a16z aims to expand its investment scope to a broader range of frontier technology companies and evaluate them based on the products and markets they create.
No. a16z has explicitly stated that it will continue investing in crypto and related companies and participating in discussions on crypto regulatory policy. The renaming represents an expansion of the investment scope, not an exit from the crypto industry.
The fund is led by Chris Dixon, with Marc Andreessen, Ben Horowitz, Eddy Lazzarin, and Guy Wuollet participating in its management.
AI-Native Applications use artificial intelligence to create products and activities that were previously impossible or difficult to achieve, rather than simply improving the efficiency of traditional workflows with AI.
Full-Stack Startups integrate software, hardware, and services to provide customers with complete solutions. This model may improve product experience and create differentiated advantages, but it generally also involves greater operational complexity.
Machine-Age Networks are new types of networks in which humans, AI Agents, and smart devices participate together. Participants can learn, collaborate, provide services, and conduct transactions within defined permissions.
Blockchain can provide open, programmable infrastructure for digital assets and settlement, making some machine-to-machine payments, service transactions, and network incentives possible. However, whether a specific application should use blockchain still depends on its cost, security, performance, and compliance requirements.
* The information is not intended to be and does not constitute financial advice or any other recommendation of any sort offered or endorsed by Gate.
* This article may not be reproduced, transmitted or copied without referencing Gate. Contravention is an infringement of Copyright Act and may be subject to legal action.





