Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 212

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 212
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U 2023 -08, which may require us to measure in -scopedigital assets (including our ENA Token holdings) at fair value in our statement of financial position, and to recognize gains and losses from changes in the fair value of our ENA Token in net income each reporting period. ASU 2023 -08may also require us 76 to provide certain interim and annual disclosures with respect to our ENA Token holdings, with a cumulative -effectadjustment to the opening balance of retained earnings as of the beginning of the annual reporting period in which we adopt the guidance. We have not completed an evaluation of what effect the adoption of ASU 2023 -08may have on us but it is possible that it could have a material impact on our financial results in future periods, including the 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. Our compliance and risk management methods might not be effective, particularly in connection with our validator operations and digital asset treasury strategy. Our ability to comply with complex and evolving laws, regulations, and rules applicable to