Company: CNCKW
Filing Date: 2025-09-10
Form Type: 424B3
Source: 0001213900-25-086398
Chunk: 24

Company: Coincheck Group N.V.
Filing Date: 2025-09-10
Form: 424B3
Chunk 24
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 or allegations of fraud, failures of management and hacks; •unpredictable social media coverage or “trending” of, or other rumors and market speculation regarding, crypto assets; 11 •retail customer preferences and perceived value by them of crypto assets and crypto asset markets; •regulatory or legislative changes and updates affecting the use and regulation of crypto assets, both in Japan and globally; •the maintenance, troubleshooting, and development of the blockchain networks underlying crypto assets, including by miners, validators, and developers worldwide; •the ability of crypto networks to attract and retain miners or validators to secure and confirm transactions accurately and efficiently; •ongoing technological viability and security of crypto assets and their associated smart contracts, applications and networks, including vulnerabilities against hacks and scalability; •financial strength of market participants; •interruptions in service in, or failures of, major crypto platforms; •availability and cost of funding and capital; •liquidity of major crypto platforms; •availability of an active derivatives market for various crypto assets, and regulatory permissibility of derivative crypto transactions and markets in various jurisdictions; •availability of banking and payment services to support crypto -relatedcompanies and projects; and •national and international economic and political conditions, such as rising global interest rates and wars. There is no assurance that any crypto asset that is supported on or by our platforms will maintain its value or that there will be meaningful levels of trading activity of such asset. In particular, we are dependent on Japanese retail customers who account for nearly all of the trading volume on our Marketplace platform, which is currently the source of nearly all of our revenue. Accordingly, we are particularly vulnerable to any changes in sentiment relating to crypto assets from retail investors in Japan, whether due to any of the above factors, or other factors. In the event that any of the foregoing, or other, factors drive down the price of crypto assets or the demand for trading, or trading volume of, crypto assets, our business, operating results and financial condition would be adversely affected. Our operating results have and are expected to significantly fluctuate from period to period. Our operating results are heavily dependent on the level of trading of crypto assets on our Marketplace platform. Due in large part to the highly volatile nature of the prices of crypto assets and trading volume, our operating results have fluctuated and are expected to continue to fluctuate significantly between periods in accordance with market sentiments and movements in such prices and volume. As a result, period -to -periodcomparisons (both sequential and year over year)