Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 187

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 187
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 be no guarantee that such insurance may be obtained or maintained as part of the custodial services we will have or that such coverage will cover losses with respect to our ENA Token. Moreover, our use of custodians exposes us to the risk that the ENA Token our custodians will hold on our behalf could be subject to insolvency proceedings and we could be treated as a general unsecured creditor of the custodian, inhibiting our ability to exercise ownership rights with respect to such ENA Token. Any loss associated with such insolvency proceedings is unlikely to be covered by any insurance coverage we will maintain related to our ENA Token. 63 ENA Token is controllable only by the possessor of both the unique public key and private key(s) relating to the local or online digital wallet in which the ENA Token is held. While the ENA Token blockchain ledger requires a public key relating to a digital wallet to be published when used in a transaction, private keys must be safeguarded and kept private in order to prevent a third party from accessing the ENA Token held in such wallet. To the extent the private key(s) for a digital wallet are lost, destroyed, or otherwise compromised and no backup of the private key(s) is accessible, neither we nor our custodians will be able to access the ENA Token held in the related digital wallet. Furthermore, we cannot provide assurance that our digital wallets, nor the digital wallets of our custodians held on our behalf, will not be compromised as a result of a cyberattack. The ENA Token and blockchain ledger, as well as other digital assets and blockchain technologies, have been, and may in the future be, subject to security breaches, cyberattacks or other malicious activities. Security breaches and cyberattacks are of particular concern with respect to our ENA Token. ENA Token and other blockchain -basedcryptocurrencies and the entities that provide services to participants in the ENA Token ecosystem have been, and may in the future be, subject to security breaches, cyberattacks or other malicious activities. Although the Ethena Protocol itself has not yet been hacked to our knowledge, there have been some phishing attempts by hackers to deceive Ethena users. For example, in September 2024 hackers created a malicious fake version of Ethena’s website (ethena.fi) to trick users into connecting their wallets to the malicious site so that they could drain their wallet. The team at Ethena took swift action to warn users not to connect to the malicious site