Company: CNCKW
Filing Date: 2025-04-10
Form Type: 424B3
Source: 0001213900-25-030417
Chunk: 118

Company: Coincheck Group N.V.
Filing Date: 2025-04-10
Form: 424B3
Chunk 118
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 Service.” We provide custody services to our customers for their crypto assets. As of March 31, 2024, and December 31, 2024, we recognized ¥649,211 million and ¥1,033,997 million, respectively, of safeguard liabilities in our condensed consolidated interim statements of financial position with respect to such custody obligations, which correspond to the amount of crypto assets deposited by our customers, excluding any crypto assets our customers have lent to us. In addition to such deposited crypto assets we hold in custody, total customer assets include fiat currency amounts deposited by customers. 73 Because the amount and value of our customer assets are driven by multiple factors, some of which are market dependent, this metric has fluctuated in recent periods. For example, during our fiscal year ended March 31, 2022, we saw decreases in our customer assets when crypto asset prices, in particular those of Bitcoin and Ethereum, declined between April and July, and increases when such crypto asset prices temporarily recovered in November 2021. According to closing day pricing information from CoinMarketCap, the price of Bitcoin and Ethereum reached their lowest levels during the fiscal year of approximately ¥3,260,000 and ¥196,000, respectively, in July 2021, while the price of Bitcoin and Ethereum reached their highest levels during the same fiscal year of approximately ¥7,667,000 and ¥546,000, respectively, in November 2021. However, despite these short -termfluctuations, our customer assets (IFRS) grew to ¥485 billion as of March 31, 2022, driven by growth in the price, quantity, and types of crypto assets we support. We also saw significant growth in other crypto assets during these periods, primarily XRP and IOST. As of March 31, 2024, our customer assets (IFRS) grew further still to ¥708 billion, of which ¥54 billion of customer assets (IFRS) consisted of XRP while ¥17 billion consisted of IOST. As of December 31, 2024, our customer assets (IFRS) continued to grow to ¥1,096billion, of which ¥198billion of customer assets (IFRS) consisted of XRP while ¥9billion consisted of IOST. J -GAAP Customer Assets and NFTs Deposited by Customers (1) ____________ (1)Calculated by adding the amount of J -GAAPcustomer assets and the amount of NFTs deposited by