Investment of CAD $630k into Cryptocurrency Hedge Fund 168 Trading
TORONTO, ONTARIO, March 15, 2022. ‐ Cypherpunk Holdings Inc. (CSE: HODL, OTC: KHRIF) (“Cypherpunk” or, the “Company“), a sector leader for blockchain, metaverse, privacy and cryptography focused investments, is pleased to announce a new investment of CAD $630k (USD $500k) into 168 Trading Limited.
About 168 Trading Limited
168 Trading Limited is a Gibraltar based Private Fund trading cryptocurrency and related derivatives. Their core strategies are arbitrage positions, term structure trading through futures contracts and overnight funding management. The Fund employs proprietary quantitative analysis and algorithms to achieve the goal of consistent profitability.
Cypherpunk Holdings CEO Jeff Gao led the move to diversify the company’s treasury management away from passive storage and made the following comments in relation to the partnership with 168 Trading.
“The time when publicly traded companies can get by as a vehicle for passively holding crypto is behind us. What will set Cypherpunk apart from the rest of the industry is our focus on surgically targeting pockets of excess returns in crypto volatility space and our focus on risk-adjusted returns as a metric for treasury management excellence. Going forward, Cypherpunk’s strategy will include operating a diversified portfolio of niche and highly technical strategies within the nascent cryptocurrency markets, some of which will be operated by third parties. We plan to engage partners with extensive trading experience who can perform crypto research for the purpose of profiting off volatility via directionally neutral strategies across exchanges and instruments. I am looking forward to keeping our shareholders and investors informed as the Company undergoes a pivotal transformation.”
About Cypherpunk Holdings Inc.
Cypherpunk was established to invest in currencies, 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 Bitcoin, Ethereum, Samourai Wallet, Wasabi Wallet, Chia, NGRAVE, and Animoca Brands.
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 expectation or belief regarding its investment in shares of Animoca Brand and Animoca Brand’s future performance or business. 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.
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