Cypherpunk: WTI exercises warrants for 4.94M shares

The pre-funded warrants are immediately exercisable without an expiration date, subject to a 19.99% aggregate ownership limit.

Rhea-AI Filing Summary

Winklevoss Treasury Investments, LLC (WTI) exercised 4,938,801 Cypherpunk Technologies Inc. (CYPH) pre-funded warrants on October 12, 2026, acquiring the same number of common shares at a $0.0010 exercise price per share. WTI’s reported post-transaction positions were 29,793,414 common shares and 97,229,007 pre-funded warrants. The warrants have no expiration date and are immediately exercisable, subject to a 19.99% aggregate beneficial-ownership limit after exercise. Reporting person William Patrick McEvoy III, CYPH’s Chief Investment Officer and WTI’s manager, disclaims beneficial ownership except to the extent of any pecuniary interest. WTI is a wholly owned subsidiary of Winklevoss Capital Fund, LLC, which is managed by Winklevoss Capital Management, LLC; Tyler Winklevoss and Cameron Winklevoss are co-founders and managers of Winklevoss Capital Management.

Insider Trade Summary

4,938,801 shares exercised/converted

Exercise 2 txns

Insider McEvoy William Patrick III

Role Chief Investment Officer

Type	Security	Shares	Price	Value
In-the-Money Exercise	Pre-Funded Warrant (Right to Buy) F2, F1	4,938,801	$0.5196	$2.57M
In-the-Money Exercise	Common Stock F1	4,938,801	$0.001	$5K

Holdings After Transaction: Pre-Funded Warrant (Right to Buy) — 97,229,007 contracts (Indirect, By Winklevoss Treasury Investments, LLC); Common Stock — 29,793,414 shares (Indirect, By Winklevoss Treasury Investments, LLC)

Footnotes (2)

1. F1. Securities are held by Winklevoss Treasury Investments, LLC ("WTI"), which is a wholly owned subsidiary of Winklevoss Capital Fund, LLC ("WCF"). Winklevoss Capital Management, LLC ("WCM") is the manager of WCF and Tyler Winklevoss and Cameron Winklevoss are the co-founders and managers of WCM. The Reporting Person is the manager of WTI and a Vice President of WCM. The Reporting Person disclaims beneficial ownership of the securities held by WTI, except to the extent of his pecuniary interest therein, if any.
2. F2. The Pre-Funded Warrants have no expiration date and are exercisable immediately. Notwithstanding the foregoing, WTI shall not be entitled to exercise the Pre-Funded Warrant if it would cause the aggregate number of shares of Common Stock beneficially owned by WTI, its affiliates and any persons who are members of a Section 13(d) group with WTI or their affiliates to exceed 19.99% of the total number of issued and outstanding shares of Common Stock of the Issuer following such exercise.

Key Figures

Common shares acquired: 4,938,801 shares Exercise price: $0.0010 per share Transaction price per share—pre-funded warrant row: $0.5196 per share +3 more

6 metrics

Common shares acquired 4,938,801 shares WTI’s warrant exercise on October 12, 2026

Exercise price $0.0010 per share Pre-funded warrants exercised on October 12, 2026

Transaction price per share—pre-funded warrant row $0.5196 per share Reported for the derivative transaction on October 12, 2026

Common shares following transaction 29,793,414 shares Reported for WTI after the October 12, 2026 transaction

Pre-funded warrants following transaction 97,229,007 warrants Reported for WTI after the October 12, 2026 transaction

Aggregate beneficial-ownership limit 19.99% Limit on exercise based on ownership following exercise

Key Terms

Pre-Funded Warrants, beneficial ownership, Section 13(d) group, pecuniary interest

4 terms

Pre-Funded Warrants technical

"The Pre-Funded Warrants have no expiration date"

Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.

beneficial ownership financial

"disclaims beneficial ownership of the securities held by WTI"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Section 13(d) group regulatory

"members of a Section 13(d) group with WTI"

pecuniary interest financial

"except to the extent of his pecuniary interest therein"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many CYPH shares did Winklevoss Treasury Investments acquire?

Winklevoss Treasury Investments, LLC acquired 4,938,801 CYPH common shares by exercising the same number of pre-funded warrants on October 12, 2026. The exercise price was $0.0010 per share.

What are the exercise limits for CYPH pre-funded warrants?

The pre-funded warrants are immediately exercisable and have no expiration date. WTI cannot exercise if doing so would cause the aggregate common shares beneficially owned by WTI, its affiliates, and persons in a Section 13(d) group with WTI or its affiliates to exceed 19.99% of CYPH’s issued and outstanding common shares following exercise.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Available on EDGAR 10/14/2026 - 04:36 PM EDT Accepted by SEC EDGAR 10/14/2026 - 04:35 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

McEvoy William Patrick III

(Last) (First) (Middle)

C/O CYPHERPUNK TECHNOLOGIES INC.

47 THORNDIKE STREET, SUITE B1-1

(Street)

CAMBRIDGE MASSACHUSETTS 02141

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
CYPHERPUNK TECHNOLOGIES INC. [ CYPH ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Investment Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/12/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	10/12/2026		X		4,938,801	A	$0.001	29,793,414	I	By Winklevoss Treasury Investments, LLC(1)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Pre-Funded Warrant (Right to Buy)	$0.001	10/12/2026		X			4,938,801	(2)	(2)	Common Stock	4,938,801	$0.5196	97,229,007	I	By Winklevoss Treasury Investments, LLC(1)

Explanation of Responses:

1. Securities are held by Winklevoss Treasury Investments, LLC ("WTI"), which is a wholly owned subsidiary of Winklevoss Capital Fund, LLC ("WCF"). Winklevoss Capital Management, LLC ("WCM") is the manager of WCF and Tyler Winklevoss and Cameron Winklevoss are the co-founders and managers of WCM. The Reporting Person is the manager of WTI and a Vice President of WCM. The Reporting Person disclaims beneficial ownership of the securities held by WTI, except to the extent of his pecuniary interest therein, if any.

2. The Pre-Funded Warrants have no expiration date and are exercisable immediately. Notwithstanding the foregoing, WTI shall not be entitled to exercise the Pre-Funded Warrant if it would cause the aggregate number of shares of Common Stock beneficially owned by WTI, its affiliates and any persons who are members of a Section 13(d) group with WTI or their affiliates to exceed 19.99% of the total number of issued and outstanding shares of Common Stock of the Issuer following such exercise.

	/s/ William P. McEvoy III	10/14/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)