Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 227

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 227
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 volatility of our financial results, and affect the carrying value of our ENA Token on our balance sheet, and it could also have adverse tax consequences, which in turn could have a material adverse effect on our financial results and the market price of shares of StablecoinX Class A Common Stock. Additionally, on March 31, 2022, the staff of the SEC issued Staff Accounting Bulletin (“ SAB”) No. 121 (“ SAB 121”), which represented a significant change regarding how a company safeguarding digital assets held for its platform users reports such digital assets on its balance sheet and required retrospective application as of January 1, 2022. In January 2025, the staff of the SEC issued SAB No. 122 (“ SAB 122”), which rescinds the previously -issuedinterpretive guidance included within SAB 121. The broader digital assets industry, including the technology associated with digital assets, the rate of adoption and development of and use cases for, digital assets, market perception of digital assets and the legal, regulatory, and accounting treatment of digital assets are constantly developing and changing, and there may be additional risks in the future that are not possible to predict. Uncertainties in or changes to regulatory or financial accounting standards could result in the need to change our accounting methods and may retroactively affect previously reported results and impair our ability to provide timely and accurate financial information, which could adversely affect our financial statements, result in a loss of investor confidence, and our business, operating results and financial condition. 79 Our compliance and risk management methods might not be effective, particularly in connection with our infrastructure software and services, including validator operations, DVN services and digital asset treasury strategy. Our ability to comply with complex and evolving laws, regulations, and rules applicable to digital asset businesses, including those relating to securities, commodities, money transmission, staking, validation, cross -chainmessaging, and other blockchain infrastructure activities, depends heavily on the establishment and maintenance of robust legal, compliance, audit, and reporting systems, as well as our ability to attract and retain qualified compliance and risk management personnel. Although we expect to devote significant resources to developing policies and procedures to identify, monitor, and manage our risks, there can be no assurance that these policies and procedures will always be effective or sufficient. Our risk management systems must address unique risks associated with providing infrastructure software and services, which may include operating validator nodes, operating or supporting DVNs or other cross -chaininfrastructure, maintaining our digital asset treasury and managing our EN