Company: OWLS
Filing Date: 2025-09-19
Form Type: F-1/A
Source: 0001193125-25-208098
Chunk: 61

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-09-19
Form: F-1/A
Chunk 61
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 Stellar, have limited operating histories, have not been validated in production, and are still in the process of developing and making significant decisions that will affect the underlying blockchain, any of which could adversely affect 
 the digital assets, including stablecoins, whose protocols are built on top of such blockchains.                                                                                                                                                         |

| • |     | The successful launch and adoption of central bank digital assets and tokenized deposits, as well as any bank-led                                                                                                                                         
 consortia payment networks, including those already underway, could directly and adversely impact the demand for stablecoins such as USDC as well as our payment products and services built upon the stablecoin ecosystem, and if we cannot adapt to any 
 shifting trends in adoption of such other asset types or clearing networks as payment and clearing options, our payment products and services may be adversely affected.                                                                                  |

| • |     | The governance of many decentralized blockchain networks is by voluntary consensus and open competition, and many                                                                                                                                   
 developers are not directly compensated for their contributions. As a result, there may be a lack of consensus or clarity on the governance of any particular digital asset network, a lack of incentives for developers to maintain or develop the 
 network and other unforeseen issues, any of which could result in unexpected or undesirable errors, bugs, or changes, or stymie such network’s utility and ability to respond to challenges and grow.                                               |

| • |     | Security issues, bugs and software errors have been identified within many digital assets, including stablecoins,                                                                                                                                      
 and their underlying blockchain networks, some of which have already been exploited by malicious actors. There are also inherent security weaknesses in some digital assets, including when creators of certain digital asset networks use procedures  
 that could allow hackers to counterfeit tokens. Any weaknesses identified with a digital asset could adversely affect its price, security, liquidity and adoption. If a malicious actor or botnet (a volunteer or hacked collection of computers       
 controlled by networked software coordinating the actions of the computers) obtains a majority of the compute or staking power on a digital asset network, as has previously occurred, it could manipulate transactions, which could lead to financial 
 losses for asset holders, damage the network’s reputation and security, and adversely affect its value. Certain digital asset networks are in the process of implementing, or may implement from time to time, software upgrades and other protocol    
 changes, which could introduce bugs, security risks or adversely affect the respective networks; and                                                                                                                                                   |

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| • |     | The development of new technologies for mining, such as improved