Company: CNCKW
Filing Date: 2025-08-29
Form Type: POS AM
Source: 0001213900-25-082038
Chunk: 24

Company: Coincheck Group N.V.
Filing Date: 2025-08-29
Form: POS AM
Chunk 24
---
 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; •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, store 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; 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