Company: DDC
Filing Date: 2025-08-05
Form Type: F-3/A
Source: 0001213900-25-072148
Chunk: 89

Company: DDC Enterprise Ltd
Filing Date: 2025-08-05
Form: F-3/A
Chunk 89
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 fiat currency devaluations; |

| ● | developments in mathematics or technology, including in digital                                                                             
 computing, algebraic geometry and quantum computing, that could result in the cryptography used by the Bitcoin blockchain becoming insecure 
 or ineffective; and                                                                                                                         |

| ● | changes in national and international economic and political                                                                               
 conditions, including, without limitation, federal government policies, trade tariffs and trade disputes, the adverse impacts attributable 
 to the current conflict between Russia and Ukraine and the economic sanctions adopted in response to the conflict, and the broadening      
 of the Israel-Hamas conflict to other countries in the Middle East.                                                                        |

Bitcoin and other digital assets are novel assets, and are subject to significant legal, commercial, regulatory and technical uncertainty

Bitcoin and other digital assets are relatively
novel and are subject to significant uncertainty, which could adversely impact their price. The application of state and federal securities
laws and other laws and regulations to digital assets is unclear in certain respects, and it is possible that regulators in the United
States or foreign countries may interpret or apply existing laws and regulations in a manner that adversely affects the price of bitcoin
or the ability of individuals or institutions such as us to own or transfer bitcoin.

The U.S. federal government, states, regulatory
agencies, and foreign countries may also enact new laws and regulations, or pursue regulatory, legislative, enforcement or judicial actions,
that could materially impact the price of bitcoin or the ability of individuals or institutions such as us to own or transfer bitcoin.
For example, within the past several years:

| ● | President Trump signed an executive order instructing a working                                                                        
 group comprised of representatives from key federal agencies to evaluate measures that can be taken to provide regulatory clarity and  
 certainty built on technology-neutral regulations for individuals and firms involved in digital assets, including through well-defined 
 jurisdictional regulatory boundaries;                                                                                                  |

| ● | the European Union adopted Markets in Crypto Assets Regulation                                                         
 (“MiCA”), a comprehensive digital asset regulatory framework for the issuance and use of digital assets, like bitcoin; |

| ● | in June 2023, the SEC filed complaints against Binance Holdings                                                                      
 Ltd. and Coinbase, Inc., and their respective affiliated entities, relating to, among other claims, that each party was operating as 
 an unregistered securities exchange, broker, dealer, and clearing agency;                                                            |

| ● | in November 2023, the SEC filed a complaint against Payward                                                                       
 Inc. and Payward Ventures Inc., together known as Kraken, alleging,