Company: CNCKW
Filing Date: 2025-01-28
Form Type: F-1
Source: 0001213900-25-007203
Chunk: 180

Company: Coincheck Group N.V.
Filing Date: 2025-01-28
Form: F-1
Chunk 180
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 |   |          13.4 |     |   |      15.8 |     |   |          17.5 |     |   |      39.7 |     |   |          33.1 |
| Amount held in hot wallets           |     |                     |       3.9 |     |   |           1.9 |     |   |       2.0 |     |   |           1.6 |     |   |       3.6 |     |   |           2.2 |
| Amount deposited with counterparties |     |                     |       2.3 |     |   |           1.1 |     |   |       1.1 |     |   |           0.3 |     |   |       0.8 |     |   |           0.4 |

____________ (1)For reference, customer crypto assets in custody in cold wallets and recorded as safeguard assets were ¥428.5 billion, ¥237.8 billion, ¥287.1 billion, ¥295.4 billion, ¥645.7 billion and ¥587.5billion as of March 31, 2022, September 30, 2022, March 31, 2023, September 30, 2023, March 31, 2024 and September 30, 2024, respectively.

122 Other than NFTs we hold as inventory, all of our crypto assets held consist of crypto assets borrowed from our customers under the Coincheck Lending program described below under “— Additional Cryptocurrency -relatedServices.” We utilize such crypto assets in executing cover transactions in the course of operating our Marketplace platform. When there is a customer order for the sale or purchase of crypto assets on the Marketplace platform, we will accept the order and reflect the sale or purchase in the customer’s account. If not offset by other customer transactions, in order to cover the position created by the customer’s order we will utilize crypto assets held to sell or purchase the subject crypto assets in a cover transaction on a third -partyexchange or on the Company’s Exchange platform. We will subsequently withdraw or deposit crypto assets corresponding to the customer’s order from or into the segregated cold wallets we maintain for custody of customer assets, normally within 24 hours. We utilize borrowed crypto assets to facilitate the prompt execution of cover transactions before we subsequently transfer the subject crypto assets to or from customers’ segregated cold wallets. We do not use