Mr. Tony Guoga reports

CYPHERPUNK ANNOUNCES INTENTION TO COMMENCE NORMAL COURSE ISSUER BID

Cypherpunk Holdings Inc. intends to commence a normal course issuer bid (NCIB), under which it may purchase up to 7,603,359 common shares of the company over a period of one year, representing approximately 5 per cent of the company's issued and outstanding common shares, with up to 3,041,343 common shares of the company purchasable over any 30-day period within the NCIB period, being 2 per cent of the company's issued and outstanding common shares. The NCIB is expected to commence on or about Feb. 20, 2024, and will continue until the earlier of Feb. 20, 2025, or the date by which the company has acquired the maximum number of common shares which may be purchased under the NCIB.

All common shares purchased under the NCIB will be purchased on the open market through the facilities of the Canadian Securities Exchange at the prevailing market price of the common shares at the time of purchase and shall be duly cancelled and returned to treasury.

The company believes that the market price of the common shares may not fully reflect the value of its business and prospects, and as such it believes that purchasing its own common shares for cancellation is an appropriate strategy for increasing long-term shareholder value and represents an appropriate use of the company's financial resources. The company intends to appoint Canaccord Genuity as its broker to conduct the NCIB transactions on its behalf.

In furtherance of its strategic initiatives, Cypherpunk Holdings is also delighted to announce it has entered into a definitive agreement for the sale of 2.5 million shares of Animoca Brands. The shares are to be sold at a price of 90 Australian cents per share. The proceeds from this sale will be reinvested in accordance with the company's investment strategy, aimed at maximizing returns and furthering its commitment to investing in privacy technologies, high performance compute (HPC) and the secular trend toward decentralization.

About Cypherpunk Holdings Inc.

Cypherpunk was established to invest in companies, technologies and protocols, which enhance or protect privacy. Its strategy is to make targeted investments in businesses and assets with strong privacy attributes, often within the blockchain ecosystem, including select cryptocurrencies. Current equity investments include Animoca Brands, Samourai Wallet, Wasabi Wallet, Chia and NGrave.

We seek Safe Harbor.