28 Jun 2022

Sol Strategies Team

Cypherpunk Holdings Announces Corporate Update

Toronto, Ontario—Cypherpunk Holdings Inc. (CSE: HODL) (OTC Pink: CYFRF) announces updates regarding its cryptocurrency holdings and strategic approach amid the current market conditions.

Cypherpunk Holdings Inc. (CSE: HODL) (OTC Pink: CYFRF) (“Cypherpunk” or the “Company”), a leader in blockchain, metaverse, privacy, and cryptography-focused investments, provides an update on its cryptocurrency holdings and strategic approach.

Market Overview and Strategy:

Moe Adham, Chief Investment Officer of Cypherpunk Holdings, commented: “Crypto markets remain in a deep risk-off environment. There is a continued risk of significant drawdowns in asset prices across the crypto sector. To safeguard the interests of our shareholders, the company has transitioned its treasury to cash. This move positions us to take advantage of investment opportunities that we anticipate will emerge 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. The Company’s treasury currently holds no BTC and no ETH. The total proceeds from these sales amount to CAD $6,378,787.

Cash Position:

The Company currently 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, stated: “Recently, Cypherpunk liquidated all of its BTC and ETH holdings for cash and withdrew to custody. We continue to observe systemic risks affecting the crypto ecosystem, and based on our assessment of risk-reward and opportunity costs, we believe that maintaining a cash position is prudent. As volatility and illiquidity persist, we anticipate weaker price action and potential further declines. Our treasury will remain in cash until our market outlook changes. Despite current conditions, we maintain a long-term bullish view 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 involves 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. Forward-looking statements are identifiable by terms such as “plans,” “expects,” “is expected,” “estimates,” “forecasts,” “intends,” “anticipates,” and similar expressions. Such statements are based on management’s beliefs and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. Readers should not place undue reliance on forward-looking statements, as the Company has no obligation to update them unless required by law. Investors should be cautious about attributing undue certainty to such 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

SOURCE

CONTACT US

Sol Strategies Inc.
217 Queen St W #401
Toronto, ON M5V 0R2
416-480-2488
General: info@solstrategies.io
Media: solstrategies@mgroupsc.com

FOLLOW US