Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 186

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 186
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 Token and its financial condition and results of operations could be materially adversely affected.” The broader digital assets industry is subject to counterparty risks, which could adversely impact the adoption rate, price and use of ENA Token. For example, a series of high -profilebankruptcies, closures, liquidations, regulatory enforcement actions and other events relating to companies operating in the digital asset industry have highlighted the counterparty risks applicable to owning and transacting in digital assets. These include: (i) the filings for bankruptcy protection by Three Arrows Capital, Celsius Network, Voyager Digital, BlockFi Lending, Core Scientific, FTX Trading, Alameda Research and Genesis Global Capital; (ii) the closure or liquidation of certain financial institutions that provided lending and other services to the digital assets industry, including Silicon Valley Bank, Signature Bank and Silvergate Bank; (iii) the potential of SEC enforcement actions; (iv) the placement of Prime Trust, LLC into receivership following a cease -and -desistorder issued by Nevada’s Department of Business and Industry; and (v) the filing and subsequent settlements of lawsuits by the New York Attorney General against Galaxy Digital Holdings, Genesis Global Capital, Genesis’ parent company Digital Currency Group, Inc., and former partner Gemini Trust Company. Bankruptcies, closures, liquidations and other events may impact our access to ENA Token and could negatively impact the adoption rate and use of ENA Token. Additional bankruptcies, closures, liquidations, regulatory enforcement actions or other events involving participants in the digital assets industry in the future may further negatively impact the adoption rate, price and use of ENA Token, limit the availability to us of financing collateralized by ENA Token or create or expose additional counterparty risks. 58 The broader digital assets industry, including the technology associated with digital assets, the rate of adoption and development of and use cases for, digital assets, market perception of digital assets and the legal, regulatory, and accounting treatment of digital assets are constantly developing and changing, and there may be additional risks in the future that are not possible to predict. See “— ENA Token and other digital assets are novel assets, which will expose StablecoinX to significant legal, commercial, regulatory and technical uncertainty, which could materially adversely affect StablecoinX’s financial position, operations and prospects.” StablecoinX’s operating results, revenue and expenses may significantly fluctuate, including due to the highly volatile nature of ENA Token and other digital assets, which could have an adverse effect on the market price of shares