Crypto assets
43 of 521 companies added a paragraph in Risk Factors that uses one of these words:
cryptocurrency, cryptocurrencies, bitcoin, digital assets, stablecoin.
The paragraph is in the latest 10-K and nothing like it was in the one before.
It counts text; it does not say how serious a risk is. Words in capitals only (such as AI) must be in capitals.
By sector
Sector is the SEC's industry description of the company. Each count opens that sector's quotes below.
| Sector | Companies | Compared |
|---|---|---|
| Retail-Computer & Computer Software Stores | 1 | 1 |
| Finance Services | 25 | 28 |
| Security & Commodity Brokers, Dealers, Exchanges & Services | 2 | 4 |
| Security Brokers, Dealers & Flotation Companies | 3 | 7 |
| Services-Computer Integrated Systems Design | 1 | 3 |
| National Commercial Banks | 3 | 11 |
| Services-Business Services, NEC | 4 | 16 |
| Services-Computer Processing & Data Preparation | 1 | 4 |
| Services-Computer Programming, Data Processing, Etc. | 1 | 5 |
| Investment Advice | 1 | 8 |
| Services-Prepackaged Software | 1 | 19 |
1254 paragraphs · Retail-Computer & Computer Software Stores show all sectors
The Bitcoin markets have historically experienced significant volatility in price, limited liquidity and trading volumes, relative anonymity, potential susceptibility to market abuse and manipulation, compliance and internal control failures at exchanges and other risks inherent in its entirely electronic, virtual form and decentralized network. Our Bitcoin holdings could significantly impact our financial results and the market price of our listed securities. Our Bitcoin strategy has not
Read in the 10-K filed Mar 24, 2026 ↗
To mitigate against the risk of this exposure, these agreements typically include a feature requiring the party that is out-of-the-money (on the basis of the MtM of the transactions), whether the Company or the derivative counterparty, to pledge collateral for all or some portion of the MtM of outstanding derivatives. In certain circumstances, the pledged collateral may be contractually permitted to be rehypothecated, repledged, used and/or commingled by the counterparty. The ability to commingle or rehypothecate may obscure legal title to the underlying collateral, particularly in the case of pledged digital assets. If the custodian of our collateral becomes subject to bankruptcy or liquidation proceedings, our ability to reclaim such collateral may be subject to competing claims from other creditors. In addition, if our transactions are early terminated or unwound following an event of default or termination event, including one resulting from the insolvency of a counterparty, our claim for any termination value against such counterparty will be a general unsecured claim to the extent not covered by the value of the collateral pledged to the Company. In such instances, any remaining claim will be subject to the claims of competing creditors. If we acquire U.S. Dollar-denominated stablecoins, we may be exposed to certain risks associated with such stablecoins.
Read in the 10-K filed Mar 24, 2026 ↗