Company: DDC
Filing Date: 2025-07-22
Form Type: F-3
Source: 0001213900-25-066338
Chunk: 90

Company: DDC Enterprise Ltd
Filing Date: 2025-07-22
Form: F-3
Chunk 90
---
 asset lending platforms Celsius Network and Voyager Digital Holdings in 2022, the ordered liquidation of the digital asset         
 investment fund Three Arrows Capital in 2022, the announced liquidation of Silvergate Bank in 2023, the government-mandated closure and        
 sale of Signature Bank in 2023, the placement of Prime Trust, LLC into receivership following a cease-and-desist order issued by the           
 Nevada Department of Business and Industry in 2023, and the exit of Binance from the U.S. market as part of its settlement with the Department 
 of Justice and other federal regulatory agencies;                                                                                              |

| ● | regulatory, legislative, enforcement and judicial actions                                                                                  
 that adversely affect the price, ownership, transferability, trading volumes, legality or public perception of bitcoin, or that adversely  
 affect the operations of or otherwise prevent digital asset custodians, trading venues, lending platforms or other digital assets industry 
 participants from operating in a manner that allows them to continue to deliver services to the digital assets industry;                   |

| ● | further reductions in mining rewards of bitcoin, including                                                                              
 due to block reward halving events, which are events that occur after a specific period of time (the most recent of which occurred in   
 April 2024) that reduce the block reward earned by “miners” who validate bitcoin transactions, or increases in the costs                
 associated with bitcoin mining, including increases in electricity costs and hardware and software used in mining, or new or enhanced   
 regulation or taxation of bitcoin mining, which could further increase the costs associated with bitcoin mining, any of which may cause 
 a decline in support for the Bitcoin network;                                                                                           |

<div align='center'>49</div>

| ● | transaction congestion and fees associated with processing 
 transactions on the Bitcoin network;                       |

| ● | macroeconomic changes, such as changes in the level of interest                                                       
 rates and inflation, fiscal and monetary policies of governments, trade restrictions, and fiat currency devaluations; |

| ● | developments in mathematics or technology, including in digital                                                                             
 computing, algebraic geometry and quantum computing, that could result in the cryptography used by the Bitcoin blockchain becoming insecure 
 or ineffective; and                                                                                                                         |

| ● | changes in national and international economic and political                                                                               
 conditions, including, without limitation, federal government policies, trade tariffs and trade disputes, the adverse impacts attributable 
 to the current conflict between Russia and Ukraine and the economic sanctions adopted in response to the conflict, and the broadening      
 of the