Coincheck Group N.V 6-K, filed Nov 13, 2026

Coincheck Group N.V. (CNCK)

6-K 2026-11-13 For: 2026-09-30

Added on November 13, 2026

About this 6-K

Coincheck Group N.V filed this 6-K on November 13, 2026.

Coincheck Group N.V. reported six-month total revenue of 189,848 million yen and a net loss of 5,311 million yen. A 2,962 million yen impairment followed Aplo’s legacy brokerage wind-down. AI summary

Search and read filings like this one from Claude or ChatGPT with the SEC filings MCP server →


Exhibit No.						Description
99.1						Coincheck Group’s Unaudited Condensed Consolidated Interim Financial Statements as of September 30, 2026 and March 31, 2026 and for the three and six months ended September 30, 2025 and 2026 and related Management’s Discussion and Analysis of Financial Condition and Results of Operations.


	COINCHECK GROUP N.V.

Date: November 13, 2026	By:	/s/ Pascal St-Jean
		Name:	Pascal St-Jean
		Title:	Chief Executive Officer and President


Term						Description
3iQ						Collectively, 3iQ Digital Holdings Inc., a company under the federal laws of Canada, its principal operating subsidiary 3iQ Corp., and its other subsidiaries, direct and indirect. 3iQ became a subsidiary of Coincheck Group effective March 1, 2026.
3iQ Acquisition Agreement						Sale and Purchase Agreement, dated January 8, 2026, among Monex, Coincheck Parent, and certain other parties, pursuant to which Coincheck Parent acquired from Monex and certain minority shareholders approximately 99.8% beneficial ownership and control of 3iQ.
Altcoin						A term sometimes used to refer to a cryptocurrency other than Bitcoin.
AMF						The French Authority for the Financial Markets, the Autorité des Marchés Financiers.
AML/CFT						Anti-Money Laundering and Countering Financing of Terrorism
Aplo						Aplo SAS, a simplified joint stock company under the laws of France and a licensed MiCA Crypto-Asset Service Provider, is a crypto prime brokerage for institutional investors and a subsidiary of Coincheck Parent since October 2025.
Aplo Acquisition Agreement						Share Contribution and Transfer Agreement, dated August 27, 2025, and completed October 14, 2025, among Coincheck Parent and the holders of all of the then-issued shares of Aplo, relating to the acquisition by Coincheck Parent owning of all of the issued shares of Aplo.
AUM						Assets Under Management
Bitcoin (“BTC”)						The first system of global, decentralized, scarce, digital money as initially introduced in a white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System” by Satoshi Nakamoto.
blockchain						A cryptographically secure digital ledger that maintains a record of all transactions that occur on a network and follows a consensus protocol for confirming new blocks to be added.
Board or Board of Directors						The board of directors of Coincheck Group N.V.
Business Combination						The Business Combination consummated on December 10, 2024 pursuant to the Business Combination Agreement, including related transactions therein described.
Business Combination Agreement						The Business Combination Agreement, dated as of March 22, 2022, as amended, by and among Thunder Bridge, Coincheck Parent, M1 GK, Coincheck Merger Sub, Inc., and Coincheck, and the agreements contemplated therein for related transactions to be signed or completed at closing.
CaaS						Crypto-as-a-Service, more specifically, white-label or co-branded offerings or similar distribution arrangements with third-party firms who need crypto-asset trade execution and settlement, and/or custody, from a licensed crypto-asset provider so that they may offer crypto asset investments to their customer bases, sometimes also referred to as a type of B2B2C (business-to-business-to-customer) relationship.
CASP						Crypto-assets services provider (as licensed by the AMF).
Coincheck						Coincheck, Inc., a Japanese joint stock company (kabushiki kaisha) and the principal operating subsidiary of Coincheck Parent, and is a licensed cryptocurrency exchange services provider in Japan.


Term						Description
Coincheck NFT Marketplace						Coincheck’s service available to customers that enables non-fungible tokens (NFTs) to be purchased.
Coincheck Parent						Coincheck Group N.V., a Dutch public limited liability company (naamloze vennootschap).
cold wallet						Sometimes also described as cold storage, the storage of private keys in any fashion that is disconnected from the internet in order to protect data from unauthorized access. Common examples include offline computers, USB drives or paper records.
cover counterparties						Counterparties with which cover transactions are executed.
cover transactions						Transactions executed by us with a party on an external exchange (which, for these purposes, includes for Coincheck the Exchange platform) or market maker that is connected via API to our systems, in order to offset our own positions or reduce our exposure arising from transactions in crypto assets with customers using Coincheck’s Marketplace platform or Aplo's platform for brokerage services.
crypto						A broad term for any cryptography-based market, system, application, or decentralized network.
crypto asset						A digitally transferable representation of value or rights that is not denominated in fiat currency, and that is not considered a security or financial instrument under applicable law.
cryptocurrency						Bitcoin and altcoins — crypto assets designed to function as a medium of exchange or store of value.
customer account or customer’s account						The single account, as governed by one customer agreement, opened by a customer that enables the customer to use, (i) for Coincheck, the Marketplace platform, Exchange platform, Coincheck NFT Marketplace, participate in Coincheck’s IEO platform offerings, and otherwise use Coincheck’s crypto services offered to its accountholders (i.e., there is one account per verified user for all accountholder services, and not separate accounts or customer agreements for each platform or service), and (ii) for Aplo, Aplo’s prime brokerage services.
customer assets or customer-assets						Cryptocurrencies held for customers + fiat currency deposited by customers. For the avoidance of doubt, "customer assets" do not include NFTs and, for Aplo's customer deposits, include stablecoins.
customers (or “users”)						Parties who hold accounts and utilize the services provided on crypto asset platforms. This definition, as used in the description of our business, generally does not include cover counterparties, and thus such definition differs from the definition of “customer” under IFRS 15. Notwithstanding the foregoing, for purposes of the Company’s condensed consolidated interim financial statements (unaudited) included elsewhere in this report, customer refers to customers that meet the definition under IFRS 15, including the parties described in the preceding paragraph as well as cover counterparties.
DeFi						Short for “Decentralized Finance,” referring to a peer-to-peer network built on blockchain technology that can be used to facilitate traditional financial services like borrowing, lending, trading derivatives, and insurance.
ERTRs and ERTRISs						Electronically recorded transferable rights (ERTRs) and electronically recorded transferable rights to be indicated on securities (ERTRIS) under FIEA.
Ethereum and Ether (ETH)						A decentralized global computing platform that supports smart contract transactions and peer-to-peer applications, as well as the native crypto assets, such as Ether (ETH), on the Ethereum network.
Exchange Act						The U.S. Securities Exchange Act of 1934, as amended.


Term						Description
Exchange platform						Coincheck’s exchange platform, targeted to more sophisticated crypto investors and traders, which facilitates crypto asset purchase and sale transactions between customers generally on a no-fee basis, and on which Coincheck from time to time purchases or sells crypto assets to help support the covering of transactions on its Marketplace platform.
FEFTA						The Foreign Exchange and Foreign Trade Act of Japan (Act No. 228 of 1948). Under FEFTA, Japan’s Ministry of Finance and its ministries with jurisdiction over a target entity’s business review foreign direct investments and impose certain restrictions on such investments made by foreign investors.
FIEA						Japan’s Financial Instruments and Exchange Act
fork						A “soft” fork aims to be a backward-compatible upgrade to a blockchain, allowing nodes running older versions to still validate new transactions. A “hard” fork is a non-backward-compatible change that requires all nodes to upgrade to the new version, often resulting in a permanent split in the blockchain which results in two different blockchains, the original, and the new version, resulting in the creation of a new token.
hot wallet						A wallet that is connected to the Internet, enabling it to broadcast transactions.
Initial Exchange Offering (“IEO”)/Initial Token Offering						A fundraising event where a crypto start-up raises money through a cryptocurrency exchange. An IEO is a type of Initial Token Offering where a company or project electronically issues utility tokens to procure funds, with a cryptocurrency exchange acting as the main party for screening the project and selling the issuer tokens. Interested supporters can buy tokens with fiat currency or cryptocurrency. The token may be exchangeable in the future for a new cryptocurrency to be launched by the project, or a discount or early rights to a product or service proposed to be offered by the project.
Japan Virtual and Crypto Assets Exchange Association (the “JVCEA”)						The JVCEA is a self-regulatory organization for the Japanese cryptocurrency industry under the Payment Services Act, which is formally recognized by the Financial Services Agency of Japan (the “JFSA”). The JVCEA was established in 2018 after a hacking incident of NEM digital tokens occurred with an operational focus on the inspection of the security of domestic exchanges and the enforcement of stricter regulations. The members of the JVCEA consist of the 32 licensed class 1 Japanese virtual currency exchange service providers as of the reporting date.
KDDI						KDDI Corporation, a Japanese corporation listed on the Tokyo Stock Exchange and headquartered in Tokyo, Japan, a major Japanese telecommunications company that provides mobile communications, digital entertainment, and integrated finance and energy services.
KDDI Investment Agreement						Share Subscription and Investor Rights Agreement, dated May 12, 2026, between Coincheck Parent and KDDI, pursuant to which KDDI subscribed for 28,536,516 Ordinary Shares (which constituted approximately 14.9% of the issued and outstanding shares upon closing of the subscription) for a subscription price of USD 2.28 per share, an aggregate subscription price of $65,063,256, which, upon completion, made KDDI the owner of approximately 14.9% of the issued and outstanding Ordinary Shares. The subscription was completed in June 2026.
KDDI Nominee						The nominee to serve as a Non-Executive Director of Coincheck Parent, which KDDI has the right to designate pursuant to, and subject to the terms and conditions of, the KDDI Investment Agreement.


Term						Description
M1 GK						M1 Co G.K., a Japanese limited liability company (godo kaisha) that was a direct, wholly owned subsidiary of Coincheck Parent and the sole shareholder of Coincheck, which was merged into Coincheck on June 20, 2025, resulting in Coincheck Parent becoming the sole shareholder of Coincheck.
Marketplace platform						Coincheck’s main platform offering that supports, as of June 30, 2026, 34 different cryptocurrencies, and is used primarily by retail customers to buy and sell the supported cryptocurrencies.
MiCA						The European Union's Markets in Crypto-Assets Regulation.
miner						Individuals or entities who operate a computer or group of computers that add new transactions to blocks and verify blocks created by other miners. Miners collect transaction fees and are rewarded with new tokens for their service.
mining						The process by which new blocks are created, and thus new transactions are added to the blockchain.
Monex						Monex Group, Inc., a Japanese joint stock company (kabushiki kaisha) listed on the Tokyo Stock Exchange.
Nasdaq						Nasdaq Global Market.
NEM (“XEM”)						NEM (abbreviated as “XEM” on exchange platforms) is a type of open-source cryptocurrency developed for the “New Economic Movement” network. NEM is a crypto asset with a strong community in Japan in particular, and the goal of NEM is to establish a new economic framework based on the principles of decentralization, economic freedom and equality rather than the existing frameworks managed by countries and governments.
network						Also sometimes referred to as a crypto network, cryptocurrency network or blockchain network, a system of interconnected computers that records and verifies cryptocurrency transactions, including the collection of all miners that use computing power to maintain the ledger and add new blocks to the blockchain.
Next Finance						Next Finance Tech Co., Ltd, a Japanese private company engaged in a staking platform services business, that Coincheck Parent acquired in March 2025.
non-fungible token, or NFT						A unique and non-interchangeable unit of data stored on a blockchain which allows for a verified and public proof of ownership, first launched on the Ethereum blockchain.
on-chain						A type of crypto transaction that is directly recorded as data on a blockchain. A type of transaction that is not directly recorded on a blockchain is referred to as “off-chain.”
Ordinary Shares						Ordinary Shares of Coincheck Parent, traded on Nasdaq under the symbol “CNCK.”
Private Warrants						Warrants, issued by Coincheck Parent, and held by Thunder Bridge Sponsor.
protocol						A type of algorithm or software that governs how a blockchain operates.
PSA						Japan’s Payment Services Act, a law governing registration and other requirements relating to the issuance and exchange of prepaid payments, as amended to cover crypto assets.
public key or private key						Each public address is associated with a cryptographic key pair consisting of a private key and a corresponding public key derived from it. The private key enables the holder to authorize transactions and control access to crypto assets associated with the address, while the public key is used to verify transaction signatures. Public addresses are derived from public keys and function as identifiers for receiving crypto assets.


Term						Description
Public Warrants						Warrants, issued by Coincheck Parent, and traded on Nasdaq under the symbol “CNCKW.”
SEC						The U.S. Securities and Exchange Commission.
Securities Act						The U.S. Securities Act of 1933, as amended.
smart contract						Software that digitally facilitates or enforces a rules-based agreement or terms between transacting parties.
staking						The process of participating in proof-of-stake blockchain networks by committing crypto assets to support transaction validation and network operations in exchange for staking rewards.
Thunder Bridge						Thunder Bridge Capital Partners IV, Inc., a Delaware corporation, the special purpose acquisition company (SPAC) for the de-SPAC transaction embodied by the Business Combination Agreement.
Thunder Bridge Sponsor						TBCP IV, LLC, a Delaware limited liability company, Thunder Bridge’s sponsor and the recipient of Ordinary Shares as “sponsor shares” pursuant to the Business Combination Agreement.
USD or US$ or $						Refers to U.S. dollars.
wallet						A place to store public and private keys for crypto assets.
Warrants						The Public Warrants and Private Warrants, collectively.



Condensed consolidated interim statements of profit or loss and other comprehensive income (Unaudited)			7
Condensed consolidated interim statements of financial position (Unaudited)			9
Condensed consolidated interim statements of changes in equity (Unaudited)			11
Condensed consolidated interim statements of cash flows (Unaudited)			12
Notes to the condensed consolidated interim financial statements (Unaudited)			14
1. Reporting entity			14
2. Basis of preparation of condensed consolidated interim financial statements			15
3. Material accounting policies			16
4. Impairment of assets			16
5. Segment reporting			16
6. Revenue			17
7. Financial instruments			19
8. Fair value measurement			19
9. Share-based payments			22
10. Earnings per share and Equity			23
11. Income tax expense			25
12. Related parties			25
13. Events after the reporting date			27


		For the three months ended September 30,
(In millions)	Notes	2025		2026
Revenue:
Revenue	6	¥	132,229	¥	74,383
Other revenue	6	876		1,133
Total revenue	6	133,105		75,516

Expenses:
Cost of sales		129,219		72,859
Selling, general and administrative expenses		3,370		4,186
Total expenses		132,589		77,045
Operating profit (loss)		516		(1,529)

Other income and expenses
Other income		322		11
Other expenses	4	(1)		(3,295)
Financial income		116		259
Financial expenses		(50)		(19)
Share of loss of equity-accounted investees, net of tax		—		(31)
Profit (loss) before income taxes	10	903		(4,604)
Income tax expense (benefit)	11	548		(468)
Net income (loss) for the period attributable to owners of the Company	10	355		(4,136)

Other comprehensive income:
Foreign currency translation adjustment		(156)		(358)
Total comprehensive income (loss) for the period attributable to owners of the Company	10	¥	199	¥	(4,494)

Earnings (loss) per share:		(Yen)		(Yen)
Basic earnings (losses) per share	10	¥	2.71	¥	(21.56)
Diluted earnings (losses) per share	10	¥	2.64	¥	(21.56)
Weighted-average shares - basic	10	130,822,522		191,804,883
Weighted-average shares - diluted	10	134,648,307		191,804,883


		For the six months ended September 30,
(In millions)	Notes	2025		2026
Revenue:
Revenue	6	¥	215,782	¥	187,615
Other revenue	6	1,312		2,233
Total revenue	6	217,094		189,848

Expenses:
Cost of sales		210,763		184,270
Selling, general and administrative expenses		6,684		8,479
Total expenses		217,447		192,749
Operating loss		(353)		(2,901)

Other income and expenses
Other income		247		115
Other expenses	4	(59)		(3,146)
Financial income		4		262
Financial expenses		(187)		(87)
Share of loss of equity-accounted investees, net of tax		—		(55)
Loss before income taxes	10	(348)		(5,812)
Income tax expense (benefit)	11	674		(501)
Net loss for the period attributable to owners of the Company	10	(1,022)		(5,311)

Other comprehensive income:
Foreign currency translation adjustment		50		(398)
Total comprehensive loss for the period attributable to owners of the Company	10	¥	(972)	¥	(5,709)

Earnings (loss) per share:		(Yen)		(Yen)
Basic and diluted net losses per share	10	¥	(7.82)	¥	(29.36)
Weighted-average shares - basic and diluted	10	130,818,546		180,885,840


		As of
(In millions)	Notes	March 31, 2026		September 30, 2026
Assets:
Current assets:
Cash and cash equivalents		¥	9,458	¥	13,995
Cash segregated as deposits		50,024		44,374
Crypto assets held	8	37,876		47,086
Customer accounts receivable		1,422		1,284
Other financial assets	8	430		765
Other current assets		1,274		742
Total current assets		100,484		108,246
Noncurrent assets:
Property and equipment		1,464		3,158
Intangible assets and goodwill	4	13,600		10,466
Crypto assets held	8	186		119
Other financial assets	8	474		504
Equity-accounted investees		491		600
Deferred tax assets		378		407
Other non-current assets		44		84
Total non-current assets		16,637		15,338
Total assets		117,121		123,584

Liabilities and Equity:
Liabilities:
Current liabilities:
Deposits received		49,814		44,179
Crypto asset borrowings	8	37,543		46,860
Other financial liabilities	8	4,517		2,330
Income taxes payable		647		1
Other current liabilities		616		316
Total current liabilities		93,137		93,686
Non-current liabilities:
Other financial liabilities		1,203		2,374
Warrant liability	8	132		152
Provisions		342		296
Deferred tax liabilities		562		156
Total non-current liabilities		2,239		2,978
Total Liabilities		95,376		96,664


Repayments of short-term loans payable	(1,000)		(3,040)
Proceeds from loans from related party	9,388		—
Repayments of loans from related party	(7,798)		(2,008)
Repayments of lease obligations	(188)		(202)
Net cash provided by financing activities	1,402		7,699

Effect of exchange rate change on cash and cash equivalents	(2)		(215)
Net increase in cash and cash equivalents	386		4,537
Cash and cash equivalents at the beginning of period	8,584		9,458
Cash and cash equivalents at the end of period	¥	8,970	¥	13,995


(In millions)
Trademark/Trade Name			¥125
Customer Relationships			¥677
Licenses			¥571
Goodwill			¥1,589
Impairment loss			¥2,962


As of March 31, 2026
(In millions)	Note	Level 1		Level 2		Level 3(3)		Total
Crypto assets held(1)		¥	37,876	¥	—	¥	—	¥	37,876
Other financial assets(2)		110		—		54		164
Total		¥	37,986	¥	—	¥	54	¥	38,040

Crypto asset borrowings		¥	37,543	¥	—	¥	—	¥	37,543
Warrant liability
Public warrant liabilities	7	128		—		—		128
Private warrant liabilities	7	—		—		4		4
Total		¥	37,672	¥	—	¥	4	¥	37,675


As of September 30, 2026
(In millions)	Note	Level 1		Level 2		Level 3(3)		Total
Crypto assets held(1)		¥	47,080	¥	6	¥	—	¥	47,086
Other financial assets(2)		174		—		66		239
Total		¥	47,253	¥	6	¥	66	¥	47,325

Crypto asset borrowings		¥	46,860	¥	—	¥	—	¥	46,860
Warrant liability
Public warrant liabilities	7	149		—		—		149
Private warrant liabilities	7	—		—		3		3
Total		¥	47,009	¥	—	¥	3	¥	47,011


	For the six months ended September 30,
(In millions)	2025		2026
Revenue arising from contracts with customers
Transaction revenue - Retail(1)	¥	215,319	¥	172,336
Transaction revenue - Institutional(2)	—		14,865
Commission received(3)	463		414
Investment management fee revenue(4)	—		946
Sub-total	215,782		188,561

Other sources
Staking revenue(5)	1,175		1,053
Other revenue(6)	136		234
Sub-total	1,312		1,287
Total	¥	217,094	¥	189,848


	As of
	March 31, 2026			September 30, 2026
Exercise price	USD	11.5		USD	11.5
Share price	USD	1.5		USD	1.5
Volatility	74.0		%	74.0		%
Expected life (in years)	3.7			3.2
Risk-free rate	3.86		%	4.89		%
Dividend yield	—		%	—		%


	Number of shares	Weighted Average Grant Date Fair Value Per Share
Balance as of April 1, 2025	—	$	—
Granted	3,834,430	5.42
Vested	(105,096)	5.43
Forfeited and cancelled	(1,928)	5.00
Balance as of September 30, 2025	3,727,406	$	5.42


	Number of shares	Weighted Average Grant Date Fair Value Per Share
Balance as of April 1, 2026	3,771,145	$	5.39
Granted	874,088	2.06
Vested	(263,605)	5.07
Forfeited and cancelled	(28,040)	4.71
Balance as of September 30, 2026	4,353,588	$	4.74


Equity security investments
	For the three months ended September 30,
(In millions)	2025	2026
Balance, beginning of period	143	52
Purchases	—	16
Change in fair value	(11)	(2)
Foreign exchange impact	—	(1)
Balance, end of period	132	66


	For the three months ended September 30,
(In millions, except per share data and number of shares)	2025		2026
Net profits (losses) for the period attributable to owners of Coincheck Parent	¥	355	¥	(4,136)
Basic net earnings (losses) per share	¥	2.71	¥	(21.56)
Diluted net earnings (losses) per share	¥	2.64	¥	(21.56)
Weighted-average number of shares, basic	130,822,522		191,804,883
Weighted-average number of shares, diluted	134,648,307		191,804,883


(Unit： In millions)			For the three months ended September 30,
Type of related party	Name of related party	Detail of transaction	2025	2026
Associates of parent company	Monex, Inc.	Transaction revenue(1)	2,180	864
		Cost of sales(1)	2,174	862
		Partnership program revenue	12	7
Subsidiaries of parent company	Monex Finance Corporation	Interest expense	35	13


Name of subsidiary	Place of incorporation and operation	Contents of business	Percentage of voting rights held by the Company
Coincheck, Inc.	Japan	Provides end-to-end crypto asset exchange services and operates multi-cryptocurrency marketplaces.	100	%
CCG Administrative Services, Inc.	US	Provides certain administrative services for Coincheck Group N.V.	100	%
Next Finance Tech Co., LTD.	Japan	Provides staking service.	100	%
Aplo SAS	France	Provides a digital asset prime brokerage that serves institutional crypto investors	100	%
3iQ Digital Holdings, Inc.	Canada	Holding company of 3iQ Corp.	99.8	%
3iQ Corp	Canada	Investment fund manager of funds listed in Canada	99.8	%


							April		May		June
							2024
							(In millions, except number of verified accounts)
Exchange trading volume							¥	463,858	¥	314,753	¥	271,697
Marketplace trading volume							¥	28,222	¥	23,112	¥	21,658
Customer assets							¥	658,149	¥	736,853	¥	747,891
Number of verified users2							2,014,832		2,040,838		2,060,379

	July		August		September		October		November		December
	2024
	(In millions, except number of verified accounts)
Exchange trading volume	¥	371,801	¥	411,847	¥	278,984	¥	324,265	¥	728,270	¥	621,559
Marketplace trading volume	¥	22,724	¥	18,992	¥	13,412	¥	18,916	¥	50,404	¥	48,116
Customer assets	¥	750,366	¥	635,917	¥	669,357	¥	735,675	¥	1,106,754	¥	1,142,223
Number of verified users	2,077,756		2,090,251		2,100,374		2,110,974		2,152,448		2,197,619

	January		February		March		April		May		June
	2025
	(In millions, except number of verified accounts)
Exchange trading volume	¥	595,094	¥	410,135	¥	454,277	¥	366,050	¥	375,924	¥	312,516
Marketplace trading volume	¥	46,700	¥	25,629	¥	19,637	¥	21,672	¥	21,333	¥	18,525
Customer assets	¥	1,285,614	¥	873,795	¥	859,204	¥	886,884	¥	989,365	¥	1,000,300
Number of verified users	2,258,295		2,278,320		2,291,103		2,302,376		2,325,978		2,351,223

	July		August		September		October		November		December
	2025
	(In millions, except number of verified accounts)
Exchange trading volume	¥	388,372	¥	318,561	¥	243,278	¥	461,342	¥	415,621	¥	332,623
Marketplace trading volume	¥	39,165	¥	29,146	¥	26,358	¥	35,996	¥	29,023	¥	22,651
Customer assets	¥	1,239,868	¥	1,159,863	¥	1,189,218	¥	1,177,425	¥	1,005,468	¥	948,532
Number of verified users	2,378,672		2,400,859		2,421,080		2,442,923		2,460,621		2,475,345

	January		February		March		April		May		June


	For the three months ended
	September 30, 2025	December 31, 2025	March 31, 2026	June 30, 2026	September 30, 2026

BTC	33,669	34,491	27,422	19,790	13,746
ETH	38,834	38,761	30,271	31,472	20,810
XRP	13,110	7,805	6,140	4,049	3,687
IOST	180	134	68	43	53
ENJ	17	26	18	—	—
LTC	501	382	209	301	204
SAND	153	119	71	35	53
XLM	1,181	695	354	469	271
BCH	971	986	986	449	281
BAT	63	250	69	—	—
DOT	149	80	47	41	46
QTUM	105	100	48	—	—
MONA	38	15	11	7	3
LSK	68	84	21	103	177
SHIB	978	662	379	219	246
Others	4,653	3,081	2,612	2,126	1,959
Total	94,670	87,672	68,726	59,103	41,537


Transaction revenue from cover counterparties	35,496		61,526
Transaction revenue - Institutional	6,609		—
Transaction revenue (total)	¥	74,170	¥	131,954