---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-028558"
form_type: "8-K"
ticker: "CYPH"
cik: "0001509745"
company_name: "CYPHERPUNK TECHNOLOGIES INC."
filed_at: "2026-03-16T23:59:59+00:00"
generated_at: "2026-05-15T11:37:53.508050+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Cypherpunk reports FY2025 net income of $4.8M; ZEC treasury at $147.4M

## Summary
- Net income of $4.8M vs net loss of $67.8M in 2024; driven by $50.4M unrealized gain on ZEC holdings.
- Cash $14.0M; ZEC treasury 294,743.10 ZEC (1.78% of supply) at avg cost $335.89, valued $147.4M at year-end.
- Closed $58.88M private placement led by Winklevoss Capital in October 2025.
- Invested $5M in ZODL, developer of Zodl Zcash wallet, alongside a16z, Coinbase, Paradigm.
- Sirexatamab in DKK1-high CRC showed ORR 44% vs 15.8% control; mOS not reached vs 9.66 months.

## SEC filing metadata
- accession: 0001104659-26-028558
- form_type: 8-K
- ticker: CYPH
- cik: 0001509745
- company_name: CYPHERPUNK TECHNOLOGIES INC.
- filed_at: 2026-03-16T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1509745/000110465926028558/0001104659-26-028558-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1509745/000110465926028558/tm268792d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-028558
- JSON: https://secwatch.observer/filing/0001104659-26-028558.json
- Plain text: https://secwatch.observer/filing/0001104659-26-028558.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.