Company: CNCKW
Filing Date: 2025-03-27
Form Type: F-1/A
Source: 0001013762-25-003470
Chunk: 31

Company: Coincheck Group N.V.
Filing Date: 2025-03-27
Form: F-1/A
Chunk 31
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 user and investor confidence in crypto assets and crypto platforms; •negative publicity and events relating to crypto assets including due to bankruptcies, fraud or allegations of fraud, failures of management and hacks; 14 •unpredictable social media coverage or “trending” of, or other rumors and market speculation regarding crypto assets; retail customer preferences and perceived value of crypto assets and crypto asset markets; •increased competition from other payment services or other crypto assets that exhibit better speed, security, scalability, or other characteristics; •regulatory or legislative changes and updates affecting the use and regulation of crypto assets, both in Japan and globally; •the maintenance, troubleshooting, and development of the blockchain networks underlying crypto assets, including by miners, validators, and developers worldwide; •the ability for crypto networks to attract and retain miners or validators to secure and confirm transactions accurately and efficiently; •ongoing technological viability and security of crypto assets and their associated smart contracts, applications and networks, including vulnerabilities against hacks and scalability; •fees and speed associated with processing crypto asset transactions, including on the underlying blockchain networks and on cryptocurrency exchanges; •financial strength of market participants; •interruptions in service from or failures of major crypto platforms; •availability and cost of funding and capital; •liquidity of major crypto platforms; •availability of an active derivatives market for various crypto assets; •availability of banking and payment services to support crypto -relatedprojects; and •national and international economic and political conditions, such as rising global interest rates and Russia’s invasion of Ukraine. There is no assurance that any crypto asset that is supported on our cryptocurrency exchanges will maintain its value or that there will be meaningful levels of trading activity of such asset. In particular, we are dependent on Japanese retail customers who account for nearly all of the trading volume on our Marketplace platform. Accordingly, we are particularly vulnerable to any changes in sentiment relating to crypto assets from retail investors in Japan, whether due to the above or other factors. In the event that such changes in sentiment drive down the price of crypto assets or the demand for trading crypto assets, our business, operating results and financial condition would be adversely affected. Our operating results have and are expected to significantly fluctuate from period to period. Our operating results are heavily dependent on the level of trading of crypto assets on our Marketplace platform. Due to the highly volatile nature of the prices of crypto assets, our operating results have, and are expected to continue to, fluctuate significantly between periods in accordance with market sentiments and movements in such prices. As