Company: CNCKW
Filing Date: 2025-04-10
Form Type: 424B3
Source: 0001213900-25-030417
Chunk: 29

Company: Coincheck Group N.V.
Filing Date: 2025-04-10
Form: 424B3
Chunk 29
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 supported on our cryptocurrency exchanges 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. Accordingly, we are particularly vulnerable to any changes in sentiment relating to crypto assets from retail investors in Japan, whether due to the above or other factors. In the event that such changes in sentiment drive down the price of crypto assets or the demand for trading 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 to the highly volatile nature of the prices of crypto assets, our operating results have, and are expected to continue to, fluctuate significantly between periods in accordance with market sentiments and movements in such prices. As a result, period -to -periodcomparisons of our operating results might not be meaningful, and our past results of operations should not be relied on as indicators of future performance. Our operating results will continue to fluctuate significantly as a result of a variety of factors, many of which are unpredictable and in certain instances are outside of our control, including: •our revenue is dependent on crypto asset trading activity by our customers, including trading volume and the prevailing trading prices for crypto assets, whose trading prices and volume are highly volatile; •our ability to attract, maintain, and grow our customer base and engage our customers; •our ability to diversify and grow our non -transactionrevenue; •pricing for our products and services; 15 •investments we make in the development of products and services as well as our investment in sales and marketing; •addition and removal of crypto assets on our cryptocurrency exchanges or NFT marketplace; •adverse legal proceedings or regulatory enforcement actions, judgments, settlements, or other legal proceeding and enforcement -relatedcosts; •regulatory changes that impact our ability to offer certain products or services; •the development and introduction of existing and new products and services by us or our competitors; •system failure or outages, including with respect to our crypto platforms or other third -partycrypto networks; •breaches of security or privacy; •inaccessibility of our cryptocurrency exchanges or NFT marketplace due to our or third -partyactions; •our ability to attract and retain talent; and •our ability to compete with our competitors. If the utility and