Mr. Moe Adham reports

CYPHERPUNK HOLDINGS ANNOUNCES STRATEGIC SHIFT

Cypherpunk Holdings Inc. is making a strategic shift in focus. Acknowledging the evolution of the digital asset landscape, notably with the introduction of bitcoin exchange-traded funds (ETFs) in 2024, the company recognizes the reduced demand for its original business model.

In a strategic response to the changing dynamics of investment in digital assets and recognizing the broadening spectrum of investment opportunities, Cypherpunk Holdings is inviting additional opportunities in high-growth sectors, including emerging technologies, biotechnology, and other relevant sectors that stand at the forefront of innovation and market disruption. This new direction signifies an openness to explore and engage in ventures that stand to benefit significantly from the company's deep industry knowledge, commitment to innovation and considerable cash reserves. The focus is on identifying companies with the potential for public market success, where the company's involvement could act as a catalyst for accelerated business development and expansion.

The board of directors, working with management and its advisers, will consider a full range of strategic alternatives, including a reverse takeover, sale, merger, material investments and other significant transactions with companies operating in the sectors with an equity value greater than $25-million. Interested parties are encouraged to contact ir@cypherpunkholdings.com.

Current assets

The company wishes to provide an update regarding its current assets as of March 11, 2024. Through its option writing program, the company converted 50 bitcoin to U.S. dollars at an average rate of $60,000 (U.S.) plus net premiums received of 2.8822 bitcoin. The company also received a 0.9 BTC dividend from its ownership stake in zkSnacks Ltd.

The attached table indicates values as of the date of this release, including any sold bitcoin. Values are converted from Canadian dollars to U.S. dollars at a rate of 0.74. Bitcoin is referenced at $71,815 (U.S.).

*Other assets include equity ownership in Chia Networks Inc., Samourai Wallet, Wasabi Wallet, Ngrave, as well as 25 S19J Pro bitcoin miners. Values of these positions, as well as Animoca Brands, are as of Dec. 31, 2023, as indicated in the company's financial statements.

About Cypherpunk Holdings Inc.

Cypherpunk Holdings 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.