secwatch.observer — SEC 8-K summary
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Issuer:     CYPHERPUNK TECHNOLOGIES INC. (CYPH)
CIK:        0001509745
Form:       8-K
Filed at:   2026-03-16T23:59:59+00:00
Accession:  0001104659-26-028558
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1509745/000110465926028558/0001104659-26-028558-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1509745/000110465926028558/tm268792d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-028558

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer