Under the terms of the transaction, Cypherpunk Holdings invested an initial €100,000 via a convertible loan agreement, which also includes the right to participate in NGRAVE’s Series A financing round for an additional undisclosed amount, expected in the first quarter of 2021.
The ZERO is touted as the most secure hardware wallet ever made, forming the cornerstone of NGRAVE’s impenetrable security ecosystem. Designed and built from scratch in collaboration with leading institutes in chip manufacturing, applied cryptography, and hardware security, the ZERO offers unparalleled anti-tampering features. Completely offline, from secret key generation to transaction signing, it keeps holdings secure from any online attack vectors.
Belgium-based NGRAVE is a digital asset and blockchain security provider, offering a secure and user-friendly end-to-end solution for managing digital assets and cryptocurrencies. The company also introduces multiple innovations with GRAPHENE, the industry’s first recoverable and encrypted backup.
Commenting on the investment, Cypherpunk Holdings President and CEO, Antanas “Tony” Guoga, stated, “The NGRAVE team has a significant lead over comparable competition in the space, and they provide an excellent complement to our existing portfolio of secure privacy-based wallets. This initial investment into NGRAVE sets the stage for our continued participation in the company’s future growth.”
As the sector leader for privacy-technology wallet investments, Cypherpunk Holdings will also contribute advice and expertise on rapid management team development and matters of corporate governance. The Cypherpunk Holdings management team is led by investor, serial poker champion, and former member of the European Parliament Tony Guoga as CEO, with Moe Adham serving as Chief Investment Officer and Jon Matonis as Chief Economist. Moe is the founder and CEO of Canadian ATM leader Bitaccess. Jon is a founding Director of the original Bitcoin Foundation and previously Head of Foreign Exchange Trading at VISA International.
NGRAVE’s CEO, Ruben Merre, added, “In Cypherpunk Holdings, we believe we have found not only an investor but a strategic partner with whom we share common interests and goals regarding privacy. Cypherpunk Holding’s ticker symbol ‘HODL’ is an interesting wordplay on the most effective use case of ZERO: keeping your crypto safe for the long term. We look forward to working together as we continue to grow the business of NGRAVE.”
NGRAVE previously made headlines by onboarding Jean-Jacques Quisquater, a legendary cryptography professor and second reference of the Bitcoin paper, and raising a record amount of more than $450,000 in sales through its Indiegogo pre-order campaign in June 2020.
Cypherpunk Holdings Inc. invests in companies, technologies, and protocols that enhance or protect privacy. Its strategy focuses on making targeted investments in businesses and assets with strong privacy, often within the blockchain ecosystem, including select cryptocurrencies. Cypherpunk’s common shares trade on the Canadian Securities Exchange under the symbol (CSE: HODL). For further information on NGRAVE, please contact investments@ngrave.io.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward-looking information can be identified by the use of forward-looking terminology such as “plans,” “expects” or “does not expect,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates” or “does not anticipate,” or “believes,” or variations of such words and phrases or indicates that certain actions, events, or results “may,” “could,” “would,” “might” or “will be” taken, “occur” or “be achieved”. Forward-looking information includes, but is not limited to, the Company’s goal of making investments in businesses and assets with strong privacy, within the blockchain ecosystem, including select cryptocurrencies, or otherwise and enhancing value. There is no assurance that the Company’s plans or objectives will be implemented as set out herein, or at all. Forward-looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made and is subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking statements are made based on management’s beliefs, estimates, and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates, and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.
Investor Relations Contact:
Veronika Oswald
veronika@cypherpunkholdings.com
Cypherpunk Holdings Inc.
130 King Street West
The Exchange Tower, Suite 3680
Toronto, ON
M5X 1B1
Telephone: 416.599.8547
Website: cypherpunkholdings.com