Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 198

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 198
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. Based on information provided by Anchorage, such insurance coverage is in an aggregate amount of approximately $100million and applies to assets at all times when held at Anchorage, with no distinction between hot and cold storage. The insurance maintained by Anchorage is shared among all of its customers, is not specific to StablecoinX, and may not be available or sufficient to protect StablecoinX from any or all possible losses or sources of losses. Insurance to cover losses of our current and future ENA Token holdings will likely only cover a small fraction of the value of the entirety of the ENA Token holdings, and there can 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. 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. Anchorage maintains custody of digital assets using a combination of cold and hot storage solutions that rely on hardware security modules (“ HSM s”) to generate, store and protect private keys. Based on information provided by Anchorage, substantially all private keys associated with digital assets held in custody for StablecoinX are maintained in cold storage, meaning that the private keys are generated and held within HSMs configured in offline or highly restricted environments that are not directly accessible via the public internet. A limited portion of private keys may be maintained within HSMs configured for hot or