Mr. John McMahon reports

PROPHECY DEFI ANNOUNCES APPOINTMENT OF NEW CFO

Prophecy Defi Inc. has appointed Jon Cohen as the company's new chief financial officer, effective immediately.

Mr. Cohen is a Toronto-based chartered professional accountant and chartered accountant; he has been in public practice for over 20 years. As a partner of a boutique accounting firm, he works with private and public companies, capital markets, mergers and acquisitions, and financial services providing advisory services. Prior to public practice, Mr. Cohen completed a bachelor of commerce from Ryerson University in Toronto, Ont. Mr. Cohen currently serves as a director for a registered charity and a private foundation, and as an executive in various other private corporations.

Mr. Cohen will be replacing Roland Nimmo as CFO. "The company would like to thank Roland for his contributions and wishes him all the best in his future endeavours," said John McMahon, chief executive officer, Prophecy Defi.

Paul Rekai will also be resigning from his position as president and head of operations, effective immediately.

"With these changes, the company will be moving forward with a committed group of professionals and evaluating its current investment positions with a focus on opportunities to increase value for our shareholders," said John McMahon, CEO, Prophecy Defi.

Further, the company announces effective today the resignation of Jonathan Hannah and Andrew Young as directors of Layer2 Blockchain Inc., and of its chief executive officer, Andrew Young. Cameron Day has been appointed as a director of Layer2 and as its interim chief executive officer and interim secretary; Mr. Cohen has been appointed as Layer2's chief financial officer.

About Prophecy Defi Inc.

Prophecy Defi provides retail and institutional investors with access to the decentralized finance sector by bridging the gap between defi (decentralized finance) and traditional finance. Prophecy Defi invests in diverse defi and Web 3.0 start-ups to create new business opportunities in a coherent ecosystem.

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