Company: CNCKW
Filing Date: 2025-01-28
Form Type: F-1
Source: 0001213900-25-007203
Chunk: 52

Company: Coincheck Group N.V.
Filing Date: 2025-01-28
Form: F-1
Chunk 52
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; •we fail to support new and in -demandcrypto assets or if we elect to support crypto assets with negative reputations; •our newly offered products and services, such as our Coincheck NFT Marketplace or IEO business, are unsuccessful in achieving our expected goals for such products and services; •there are adverse changes in our products and services that are mandated by legislation, regulatory authorities, or litigation; •customers perceiving the crypto assets on our cryptocurrency exchanges or NFT marketplace to be bad investments, or experiencing significant losses in investments made on our cryptocurrency exchanges or NFT marketplace; •technical or other problems prevent us from delivering our products and services with the speed, functionality, security, and reliability that our customers expect; •cybersecurity incidents, employee or service provider misconduct, or other unforeseen activities that causes losses to us or our customers, including losses to assets held by us on behalf of our customers; •modifications to our pricing model or modifications by competitors to their pricing; •we fail to provide adequate customer service to customers; or •we or other companies in our industry are the subject of adverse media reports or other negative publicity. If we are unable to maintain or increase our customer base and customer engagement, our total revenue and financial results may be adversely affected. Furthermore, following the Chapter 11 bankruptcy filing of FTX and allegations of fraud and mismanagement of funds against its founder and former CEO, financial and other resources required to acquire new customers and maintain our customer base may increase. Any decrease in user retention, growth, or engagement could render our products and services less attractive to customers, which may have an 29 adverse impact on our total revenue, business, operating results, and financial condition. If our customer growth rate slows or declines, we will become increasingly dependent on our ability to maintain or increase levels of user engagement and monetization in order to drive growth of total revenue. Many of our customers are first-time users and our trading volumes and total revenues could be reduced if these customers stop trading crypto assets altogether or stop using our cryptocurrency exchanges for their trading activities. Our business model focuses on making crypto assets accessible to a broad demographic of retail customers. The number of new accounts opened with us by retail investors totaled 415,525, 182,178 and 178,949 in the years ended March 31, 2022, 2023 and 2024, respectively, and 119,222 in the six months ended September 30, 2024. Our success, and our ability to increase total