The following is a summary of the Company’s investment holdings:

Solana Holdings Increase: The Company has increased its SOL holdings to 86,294.0575 SOL ($21.6 million), which are currently held in Coinbase custody, including SOL used for staking. The average acquisition price of this SOL is approximately US$143, excluding commission and staking costs. As of March 31, 2024, the Company’s last financial reporting period, Cypherpunk held no SOL.
Solana Staking Revenue: Since committing to the Solana ecosystem and operating its own SOL validators, the Company has generated gross revenue of 230.35 SOL ($57,639) from staking, starting June 14, 2024.
Bitcoin: The Company currently holds 56.29229277 bitcoin in Coinbase custody, valued at approximately $5.2 million. This represents a decline of 109.9038424 bitcoin from the 166.1961351 bitcoin held as of March 31, 2024. Since then, 44.7962054 bitcoin were used to exercise 20,000 SOL options with a US$147 strike price, 67 bitcoin were sold for gross proceeds of approximately $5.8 million, and 2.06 bitcoin of investment income has been realized to date.
Sale of Animoca Brand Shares: The Company has sold its remaining 6,590,909 shares of Animoca Brands Corporation Ltd. for gross proceeds of $5.1 million, reducing its holding to nil. As of March 31, 2024, the Company held 6,590,909 shares with a book value of $5.6 million.
Cash: As of the date hereof, the Company has approximately $4.9 million in cash.
Other Investments: The Company holds other assets and private equity/venture capital investments with a book value of approximately $50,000 and $442,000, respectively.
Liabilities: As of the date hereof, the Company has net liabilities of approximately $115,000.

About Cypherpunk Holdings Inc.:

Cypherpunk Holdings is dedicated to investing in companies, technologies, and protocols within the blockchain ecosystem. With a strategic focus on cryptocurrency and blockchain innovation, the Company leverages its extensive industry expertise to identify and support high-potential opportunities in the digital asset space.

Cautionary Note Regarding Forward-Looking Information:

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking statements can be identified by terminology such as “plans”, “expects”, “intends”, “anticipates”, or variations of these words. Such statements are based on certain assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Readers should not place undue reliance on these forward-looking statements, which are made based on management’s beliefs and current conditions, and the Company undertakes no obligation to update them except as required by law.

Officer/Director Contact: