Company: DDC
Filing Date: 2025-08-05
Form Type: F-3/A
Source: 0001213900-25-072148
Chunk: 91

Company: DDC Enterprise Ltd
Filing Date: 2025-08-05
Form: F-3/A
Chunk 91
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The growth of the digital assets industry in general,
and the use and acceptance of bitcoin in particular, may also impact the price of bitcoin and is subject to a high degree of uncertainty.
The pace of worldwide growth in the adoption and use of bitcoin may depend, for instance, on public familiarity with digital assets, ease
of buying, accessing or gaining exposure to bitcoin, institutional demand for bitcoin as an investment asset, the participation of traditional
financial institutions in the digital assets industry, consumer demand for bitcoin as a store of value or means of payment, and the availability
and popularity of alternatives to bitcoin. Even if growth in bitcoin adoption occurs in the near or medium-term, there is no assurance
that bitcoin usage will continue to grow over the long-term.

Because bitcoin has no physical existence beyond
the record of transactions on the Bitcoin blockchain, a variety of technical factors related to the Bitcoin blockchain could also impact
the price of bitcoin. For example, malicious attacks by miners, inadequate mining fees to incentivize validating of bitcoin transactions,
hard “forks” of the Bitcoin blockchain into multiple blockchains, and advances in digital computing, algebraic geometry, and
quantum computing could undercut the integrity of the Bitcoin blockchain and negatively affect the price of bitcoin. The liquidity of
bitcoin may also be reduced and damage to the public perception of bitcoin may occur, if financial institutions were to deny or limit
banking services to businesses that hold bitcoin, provide bitcoin-related services or accept bitcoin as payment, which could also decrease
the price of bitcoin. Actions by U.S. banking regulators, such as the issuance in February 2023 by Federal banking agencies of the “Interagency
Liquidity Risk Statement,” which cautioned banks on contagion risks posed by providing services to digital assets customers, and
similar actions, have in the past resulted in or contributed to reductions in access to banking services for bitcoin-related customers
and service providers, or the willingness of traditional financial institution to participate in markets for digital assets. The liquidity
of bitcoin may also be impacted to the extent that changes in applicable laws and regulatory requirements negatively impact the ability
of exchanges and trading venues to provide services for bitcoin and other digital assets.

Our historical financial statements do not reflect the potential variability in earnings that we may experience in the future relating to our bitcoin holdings.

Our historical financial statements do not fully
reflect the potential variability in earnings that we may experience in the future from holding or selling significant amounts of bitcoin.The
price of bitcoin has historically been subject to dramatic price fluctuations and is