Cypherpunk Holdings Inc. (CSE: HODL) (OTC Pink: CYFRF) (“Cypherpunk” or the “Company”), a leader in blockchain, metaverse, privacy, and cryptography-focused investments, announces updates regarding its cryptocurrency holdings and strategic approach.
Market Overview and Strategy:
Moe Adham, Chief Investment Officer of Cypherpunk Holdings, stated: “Crypto markets remain in a deep risk-off environment, with ongoing risks of significant drawdowns in asset prices across the sector. In the interest of all shareholders, the company has transitioned its treasury to cash. This strategic move prepares us to capitalize on investment opportunities that we expect to become available following substantial recapitalization of certain projects.”
Cryptocurrencies:
The Company has sold 205.8209 ETH for proceeds of CAD $293,000 and 214.7203 BTC for proceeds of CAD $6,086,283. Currently, the Company’s treasury holds no BTC or ETH. The total proceeds from these sales amount to CAD $6,378,787.
Cash Position:
The Company now holds CAD $18.16 million in cash and stable assets. Additionally, CAD $1.93 million is allocated to structured products with a 30-day redemption notice.
Jeff Gao, CEO and President of Cypherpunk Holdings, commented: “Cypherpunk has recently liquidated all of its BTC and ETH holdings for cash and returned to custody. We continue to observe systemic risks within the crypto ecosystem. Given the current risk-reward dynamics and opportunity costs of holding asset tokens, we believe the prudent approach is to remain on the sidelines while waiting for the volatility and illiquidity to reach a conclusion. We anticipate that weaker price action may lead to lower levels, as evidenced by the increasing number of chains imposing ‘temporary’ suspensions on withdrawals. Our treasury will remain in cash until our market outlook changes. Despite these conditions, we maintain a long-term bullish outlook on crypto and plan to pursue compelling risk-reward opportunities as they arise.”
About Cypherpunk Holdings Inc.:
Cypherpunk Holdings was established to invest in currencies, companies, technologies, and protocols that enhance or protect privacy. The Company’s strategy focuses on making targeted investments in businesses and assets with strong privacy attributes, often within the blockchain ecosystem, including select cryptocurrencies. Current equity investments include Samourai Wallet, Wasabi Wallet, Chia, NGRAVE, and GOAT.
Cautionary Note Regarding Forward-Looking Information:
This news release contains “forward-looking information” as defined by applicable securities laws. Such statements, which include terms like “plans,” “expects,” “estimates,” and similar expressions, are based on management’s beliefs and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Readers should not place undue reliance on forward-looking statements, as the Company has no obligation to update them unless required by law. Investors are cautioned against attributing undue certainty to these statements.
Officer/Director Contact:
Jeffrey Gao
Chief Executive Officer
jeff@cypherpunkholdings.com
Office: 1-647-946-1300
Investor Relations Contact:
Veronika Oswald
Investor Relations
veronika@cypherpunkholdings.com
Office: 1-647-946-1300