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

Company: Coincheck Group N.V.
Filing Date: 2025-01-28
Form: F-1
Chunk 25
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 prices of many crypto assets, including Bitcoin and Ethereum, during the year ended March 31, 2023 resulted in a decline in our customer assets (IFRS) from ¥485 billion as of March 31, 2022 to ¥330 billion as of March 31, 2023. However, increases in the prices of crypto assets such as Bitcoin during the year ended March 31, 2024 resulted in an increase in our customer assets (IFRS) to ¥708 billion as of March 31, 2024. As of September30, 2024, our customer assets (IFRS) was ¥639billion. The price and trading volume of any crypto asset is subject to significant uncertainty and volatility, depending on a number of factors, including: •market conditions of, and overall sentiment towards, crypto assets; •changes in liquidity, market -makingvolume and trading activities; 13 •trading activities on other crypto platforms worldwide, many of which may be unregulated, and may be subject to manipulative activities; •investment and trading activities of highly active retail and institutional users, speculators and miners; •the speed and rate at which crypto assets are able to gain adoption as a medium of exchange, utility, sto re of value, consumptive asset, or usage worldwide, if at all; •decreased user and investor confidence in crypto assets and crypto platforms; •negative publicity and events relating to crypto assets including due to bankruptcies, fraud 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; retail customer preferences and perceived value of crypto assets and crypto asset markets; •increased competition from other payment services or other crypto assets that exhibit better speed, security, scalability, or other characteristics; •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 for 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; •fees and speed associated with processing crypto asset transactions, including on the underlying blockchain networks and on cryptocurrency exchanges; •financial strength of market participants; •interruptions in service from or