Blog
Ep 114: TerraM Fund Rebounds; SOL Fund Surpasses 1% Weekly Income
| Weekly updates | 43 seen
As of October 24, 2025, the TerraM Multi Asset Crypto Options Fund reported a net asset value of $9,325, showing decent recovery of +7.67% from the previous week.
The past few weeks have been characterized by significant volatility, with the market showing no clear directional bias. As option sellers, we remain aware of the possibility of a substantial correction before any sustained recovery occurs. Current conditions remain choppy, though we certainly hope this cautious outlook proves unnecessary.
The Solana Covered Call Growth Fund continued its steady performance, generating weekly options income above the 1% target for the first time, which was fully reinvested into SOL to strengthen its core long position. As a result, the NAV per unit increased to $0.89,…
Ep 113: TerraM Crypto Fund Suffers -22% Weekly Drop, NAV Falls to $8,661
| Weekly updates | 56 seen
As of October 17, 2025, the TerraM Crypto Fund reported a net asset value of $8,661, representing another massive -22.08% decline from the previous week. This seems to be our biggest drawdown so far in 2025 — let’s hope it stays that way.
Wow, what a week — from the dramatic drop following last Friday’s announcement of a 100% tariff on China, to quickly recover by Monday, and then yet another decline even more harsh than last week.
As mentioned earlier, the crypto market has entered a rather choppy phase, and we are not excluding the possibility of further drawdowns. We believe the situation may worsen before it improves.
Since the fund is heavily reliant on ETH, we expect its price to decline to around $3,151 (the lower 50/200-day moving average), with a…
How Crypto Reacts to U.S. Tariff Announcements — and Why It Hurts More Than Stocks
| Research | 81 seen
When the U.S. government announces new tariffs, markets panic, and crypto tends to take the hardest hit.
We’ve seen this pattern repeatedly: a single policy shock sends stocks tumbling, bonds rallying, and Bitcoin plunging twice as hard. But why does a trade policy aimed at physical goods ripple so violently through digital assets? And how long does it usually take for crypto to recover?
Let’s break down the dynamics, the psychology, and what we’ve observed firsthand in our own portfolio after major tariff shocks.
The Immediate Reaction: Panic, Liquidations, and CorrelationTariff announcements are not just about economics — they’re about uncertainty.
The moment new import taxes or trade restrictions are declared, global investors shift into “risk-off” mode. Equities…
Ep 112: Crypto Market Turns Choppy: TerraM Fund Maintains Discipline, Records 1.87% Weekly Gain on Options Premiums
| Weekly updates | 35 seen
As of October 10, 2025, the TerraM crypto fund value stood at $11,115 what is a slight decrease of -0.42% if compared to the last week.
When analyzing the overall crypto market, it appears we are entering a choppy phase — characterized by sharp drops, quick recoveries, and even sharper subsequent declines. History shows we’ve been here before. Looking at current trading charts, the probability of large downside moves ahead cannot be excluded.
In such an environment, traders should focus less on chasing short-term swings and more on risk management and protection strategies.
From the previous all time high we are still -5.15% away, while YTD funds value has been at 95.7%.
Options IncomeWe sell weekly options every Friday, which is why this update is…
Georgian Tax Residency: A Strategic Option for HNWIs and Crypto Individuals
| Research | 115 seen
At Terramatris, we examine how funds and financial structures work across different jurisdictions. We don’t provide legal or tax advice, but we do explore how certain models stand out in the global landscape. One of the most compelling examples today is Georgia’s tax residency framework, which offers particular advantages to high-net-worth individuals (HNWIs) and crypto investors.
What Is Georgian Tax Residency?The most common path is the 183-day rule:
If you spend at least 183 days in Georgia during a rolling 12-month period, you qualify as a tax resident.There is also a High Net Worth Individual (HNWI) track, where residency can be granted even without the 183 days, provided you can demonstrate certain global income or asset thresholds. This makes Georgia appealing to…
Why Registering a Small Crypto Trading Firm in Georgia Makes Sense
| Research | 49 seen
The global crypto market is becoming more institutionalized, and even small proprietary trading firms need to think about jurisdiction, compliance, and taxation. While the U.S. (Wyoming, Delaware) and offshore hubs (BVI, Seychelles) remain popular, Georgia, the country in the Caucasus,has quietly emerged as an attractive option for crypto-friendly businesses.
Below, we’ll explore why Georgia might make sense for a small crypto trading firm, what the registration process looks like, and the pros and considerations you should keep in mind.
Why Georgia?Crypto-friendly environment: Georgia does not have hostile legislation toward crypto. Trading, investing, and holding digital assets is not restricted for companies or individuals.
Low taxes: Georgia applies an Estonian-…
Discovering Derive: Our First Steps into True DEX Options Trading
| Research | 53 seen
At Terramatris, we’ve always been fascinated by the evolution of crypto markets and the growing range of opportunities they create for traders and investors. For years, our main focus has been on more traditional centralized exchanges (CEX) such as Bybit and Deribit. These platforms have provided liquidity, stability, and advanced trading features—making them indispensable for our operations.
But one thing has always been missing: a true decentralized exchange (DEX) for options trading.
Recently, while researching potential institutional partners for our US operations (Kraken), we stumbled upon Derive, a DEX options trading platform. If liquidity and market makers keep growing, Derive has the potential to become a central piece in the future of decentralized…
Ep 111: TerraM Fund’s Strong Recovery Marks 15.66% Weekly Gain and 96.53% YTD Growth
| Weekly updates | 51 seen
As of October 3, 2025, the TerraM crypto fund value stood at $11,162 what is an increase of 15.66% or +$1,511 in dollar terms when compared to the last week. That comes as a strong relief recovery after a sharp decline last week.
We’re still puzzled about what exactly happened last week, aside from it being quarter-end. We’re now using this comeback to strengthen our positions, reduce leverage, and ensure that when the next market selloff arrives, we’ll be better prepared.
From the previous all time high we are still -4.75% away, while YTD funds value has been at 96.53%.
Options IncomeWe sell weekly options every Friday, which is why this update is published at the end of the week.
This week, in total, TerraM fund earned $203 from options premiums,…
Ep 110: TerraM Fund Sees Worst Week of 2025, Yet Holds +69.92% YTD Gain
| Weekly updates | 39 seen
As of September 26, 2025, the TerraM crypto fund value stood at $9,651 what is a decrease of -17.64% or -$2,067 in dollar terms when compared to the last week.
That was definitely one of the worst-performing weeks of the year, rivaling late March/early April when our fund dropped by a similar percentage. Back then, however, the pain felt more. Lessons learned.
Because we use only a very small amount of leverage, we are indeed affected by market moves—but we move together with the broader market.
Certainly such massive move stings for small-sized funds like ours, but it also serves as a reminder of just how volatile crypto markets can be. This week’s drop is largely driven by the broader decline in crypto prices — nothing unexpected. Theoretically, we could…
Why We Decided to Invest in Liberland Dollar (LLD)
| Investment ideas | 86 seen
At Terramatris, we are always exploring opportunities that align with our values of innovation, independence, and forward-thinking. Sometimes, these discoveries come through structured research, and sometimes they appear unexpectedly. Our recent investment into Liberland Dollar (LLD) belongs to the second category — a pleasant surprise during our ongoing research into projects that combine crypto innovation with strong community values.
Over the past year, we’ve attended few crypto-related meetups and brunches in Tbilisi, Georgia, a city that has become a lively hub for blockchain conversations. At nearly every event, we’ve run into Samuela, an enthusiastic Czech representative of Liberland, who passionately shares updates about the micronation and its ambitions.
At one of…