Arthur Cheong is a crypto investor and fund manager best known as the founder, CEO, and Chief Investment Officer of DeFiance Capital, an Asia-focused digital asset investment firm. He is widely followed in the crypto market under the handle Arthur_0x and is most closely associated with research and investing in decentralized finance (DeFi) and blockchain gaming, two sectors built primarily on smart contract networks such as Ethereum.
Overview
Cheong’s public profile reflects a blend of investing, ecosystem analysis, and industry commentary. He has been described as having a background spanning crypto, startups, and commodities, and he became a recognizable voice during the rapid expansion of DeFi markets. Through DeFiance Capital, he has focused on identifying early-stage protocols, token networks, and consumer applications where on-chain activity can create sustainable revenue models, strong user retention, and defensible network effects.
History and Background
Before launching DeFiance Capital, Cheong held operating roles in the blockchain sector. CryptoSlate’s people directory describes him as previously serving as Vice President of Growth and Strategy at Zilliqa, a public blockchain project based in Singapore. That experience placed him closer to the operational side of building and scaling a network, including ecosystem development, partnerships, and market strategy, all of which can influence developer adoption and long-term tokenholder alignment.
Cheong’s work has also been shaped by the broader market transition from a primarily exchange-driven industry to an application-driven one. As DeFi expanded from early lending and trading protocols into more complex market structures, investors increasingly needed to evaluate smart contract risk, liquidity incentives, governance design, and sustainable fee generation, rather than relying on narratives alone.
DeFiance Capital
DeFiance Capital is positioned as a crypto-native investment firm that focuses on DeFi and blockchain gaming. The firm has described its DeFi thesis as part of a longer-term view that on-chain financial software can compete with elements of traditional finance by lowering barriers to access and enabling composable products. In parallel, its gaming thesis is oriented around digital ownership and player-driven economies, where tokens and NFTs can change the incentives for developers and players.
As founder and CIO, Cheong is responsible for portfolio construction, research direction, and risk management across a market that often mixes venture-style fundamentals with liquid token volatility. The firm’s positioning also implies active ecosystem engagement, including supporting teams on go-to-market strategy, token economics, partnerships, and navigating shifting regulatory expectations.
Investment Focus and Themes
Cheong is most associated with sectors where product-market fit can be measured on-chain. In practice, this means tracking usage, fees, retention, liquidity conditions, and governance outcomes across protocols and applications. Common themes linked to DeFiance Capital’s stated focus include:
- Decentralized finance primitives: Lending markets, DEX liquidity, derivatives, and infrastructure that expands capital efficiency and composability.
- Crypto gaming and consumer applications: Titles and platforms that use on-chain ownership to support marketplaces, progression, and user-generated economies.
- Risk and market structure: Attention to smart contract security, incentive design, liquidity depth, and governance mechanisms that influence protocol durability.
- Macro sensitivity: Recognition that crypto liquidity cycles, interest-rate environments, and risk sentiment can dominate token pricing even when product fundamentals improve.
Public Profile and Commentary
Cheong is a visible public commentator, frequently sharing views on DeFi market structure, token incentives, and investment risk. His public presence has also included warnings about operational security. In 2022, CryptoSlate reported that he suffered a social engineering attack that resulted in the theft of approximately $1.8 million in crypto and NFTs. The incident highlighted how user-level security failures can affect even sophisticated market participants, and it reinforced the importance of hardened authentication and careful operational procedures for wallet and account access.
Risks and Considerations
Cheong’s role as a fund manager operating in liquid and early-stage crypto markets involves recurring risk categories. DeFi protocols face technical vulnerabilities, governance capture, and liquidity shocks, while gaming ecosystems must manage speculative activity that can distort player incentives. Market-wide volatility can also overwhelm fundamentals, particularly in periods where leverage unwinds or stablecoin liquidity tightens. Additionally, the collapse of major crypto firms has increased scrutiny of fund structures, counterparty exposure, and transparency, elevating expectations for clear disclosures and disciplined operational controls.
Within this landscape, Arthur Cheong is best understood as a specialist investor focused on the growth of DeFi and crypto gaming, combining ecosystem-level research with fund management in one of the industry’s most volatile segments.
