Company: FUFU
Filing Date: 2025-04-21
Form Type: 20-F
Source: 0001213900-25-033733
Chunk: 70

Company: Bitfufu Inc.
Filing Date: 2025-04-21
Form: 20-F
Item: Item 3
Chunk 70
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 become directly
or indirectly held of record by U. S. holders and any one of the following is true: (i) the majority of our directors or executive
officers are U. S. citizens or residents; (ii) more than 50% of our assets are located in the United States; or (iii) our
business is administered principally in the United States. If we lose our status as a foreign private issuer in the future, we will
no longer be exempt from the rules described above and, among other things, will be required to file periodic reports and annual and quarterly
financial statements as if we were a company incorporated in the United States. If this were to happen, we would likely incur substantial
costs in fulfilling these additional regulatory requirements and members of our management would likely have to divert time and resources
from other responsibilities to ensuring these additional regulatory requirements are fulfilled.

As an exempted company incorporated in the
Cayman Islands, we are permitted to adopt certain home country practices in relation to corporate governance matters that differ significantly
from Nasdaq corporate governance listing standards; these practices may afford less protection to shareholders than they would enjoy if
we complied fully with Nasdaq corporate governance listing standards.

We are an exempted company
incorporated in the Cayman Islands. Nasdaq market rules permit a foreign private issuer like us to follow the corporate governance practices
of our home country. Certain corporate governance practices in the Cayman Islands, which is our home country, may differ significantly
from Nasdaq corporate governance listing standards applicable to domestic U. S. companies.

Among other things, we are
not required to: (i) have a majority-independent board of directors; (ii) have a compensation committee consisting of independent
directors; (iii) have a nominating committee consisting of independent directors; (iv) have regularly scheduled executive sessions
with only independent directors each year; or (v) obtain shareholder approval prior to the issuance of additional shares in certain circumstances
in accordance with Rule 5635 of the Nasdaq Stock Market Rules.

We may also follow the home
country practice for certain other corporate governance practices in the future, which may differ from the requirements of the Nasdaq
Stock Market. If we choose to follow the home country practice, our shareholders may be afforded less protection than they would otherwise
enjoy under the Nasdaq Stock Market Rules applicable to U. S. domestic issuers.

You may face difficulties in protecting
your interests, and your ability to protect your rights