Update on Cryptocurrency Holdings and Investments into Crypto Hedge Funds
Cryptocurrencies:
The Company is currently holding 306.39 Bitcoin and 311.61 Ethereum.
The Company has sold 100 Bitcoins for an aggregate sum of USD $3,295,000 and 322 Ethereum for USD $771,190.
The total proceeds from the sale of cryptocurrencies is USD $4,066,190.
Cash Position:
For cash and stables the company has $1,773,814 USD and $4,129,800 in USDC on hand.
An additional 1.5M USD is allocated to structured products with 30 days redemption notice.
Jeff Gao, the CEO and President of Cypherpunk Holdings commented on the recent events: "For months we have witnessed a slow grind in the correction of cryptocurrencies which, now, appears to have manifested into an existential event for many projects and their founders. From the dizzying heights of November 2021 when bitcoin threatened to pierce a precipitous $70,000 price target to current levels where $30,000 looks to be in imminent danger of being breached, the crypto community continues to put on a brave face and place their trust in the resilience of the ecosystem that holds promise as a viable alternative to tradfi. For Cypherpunk, and as vigilant stewards of our shareholders' hard-earned capital, our goal is to seek and deploy capital to bespoke opportunities across blockchain and crypto that provide investors with the benefits of sectoral exposure, diversification and risk management. But most of all, our efforts will be judged by the pinnacle...
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