[Form 4] LEAP THERAPEUTICS, INC. Insider Trading Activity

Rhea-AI Filing Summary

Cypherpunk Technologies Inc. (CYPH) insiders reported an internal transfer of derivative securities. Winklevoss-affiliated entities filed a Form 4 showing an assignment of warrants5,616,906 shares of common stock. The warrants are exercisable immediately and expire on 10/08/2035, with an exercise price of $0.5335 per share.

Following the transaction, the reporting persons indirectly beneficially own 57,182,378 warrants through Winklevoss Treasury Investments, LLC. Warrant exercises are limited so that the reporting group’s beneficial ownership does not exceed 19.99% of Cypherpunk’s outstanding common stock after any exercise.

11/21/2025 - 04:15 PM

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

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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^*

Winklevoss Capital Fund, LLC

(Last) (First) (Middle)

FARMERS BANK BUILDING

301 N. MARKET STREET, SUITE 1463

(Street)

WILMINGTON DE 19801

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
10/08/2025

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

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

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

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

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
Warrant (Right to Buy)	$0.5335	10/08/2025		G(1)			5,616,906	(2)	10/08/2035	Common Stock	5,616,906	$0.125	57,182,378	I	By Winklevoss Treasury Investments, LLC(3)

1. Name and Address of Reporting Person^*

Winklevoss Capital Fund, LLC

(Last) (First) (Middle)

FARMERS BANK BUILDING

301 N. MARKET STREET, SUITE 1463

(Street)

WILMINGTON DE 19801

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Winklevoss Treasury Investments, LLC

(Last) (First) (Middle)

FARMERS BANK BUILDING

301 N. MARKET STREET, SUITE 1463

(Street)

WILMINGTON DE 19801

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Winklevoss Tyler Howard

(Last) (First) (Middle)

FARMERS BANK BUILDING

301 N. MARKET STREET, SUITE 1463

(Street)

WILMINGTON DE 19801

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Winklevoss Cameron Howard

(Last) (First) (Middle)

FARMERS BANK BUILDING

301 N. MARKET STREET, SUITE 1463

(Street)

WILMINGTON DE 19801

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Winklevoss Capital Management, LLC

(Last) (First) (Middle)

FARMERS BANK BUILDING

301 N. MARKET STREET, SUITE 1463

(Street)

WILMINGTON DE 19801

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. Represents an assignment of Warrants for no additional consideration.

2. The Warrants are exercisable immediately. Notwithstanding the foregoing, the Reporting Persons shall not be entitled to exercise the Warrants to the extent that such exercise would cause the aggregate number of shares of Common Stock beneficially owned by the Reporting Persons, their affiliates and any persons who are members of a Section 13(d) group with the Reporting Persons 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.

3. 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. Each of the Reporting Persons disclaims beneficial ownership of these securities except to the extent of its or his pecuniary interest therein.

	Winklevoss Capital Management, LLC, By /s/ Cameron H. Winklevoss, Manager	11/21/2025
	Winklevoss Capital Fund, LLC, By Winklevoss Capital Management, LLC, Its Manager, By /s/ Cameron H. Winklevoss, Manager	11/21/2025
	Winklevoss Treasury Investments, LLC, By /s/ William McEvoy, Manager	11/21/2025
	/s/ Tyler H. Winklevoss	11/21/2025
	/s/ Tyler H. Winklevoss	11/21/2025
	** 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.
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FAQ

What insider transaction was reported for Cypherpunk Technologies (CYPH) on this Form 4?

The filing reports an assignment of warrants to purchase Cypherpunk Technologies common stock by Winklevoss-affiliated entities, described as for no additional consideration.

How many Cypherpunk Technologies shares are covered by the reported warrants?

The assigned warrants represent rights to buy 5,616,906 shares of common stock of Cypherpunk Technologies Inc.

What is the exercise price and term of the reported Cypherpunk warrants?

The warrants have an exercise price of $0.5335 per share and are exercisable immediately, with an expiration date of 10/08/2035.

How many Cypherpunk warrants do the reporting persons beneficially own after the transaction?

After the reported assignment, the filing shows 57,182,378 warrants beneficially owned indirectly through Winklevoss Treasury Investments, LLC.

Is there a limit on how much of Cypherpunk Technologies the warrants can control?

Yes. The warrants include a 19.99% beneficial ownership limitation, preventing exercises that would cause the reporting group to exceed 19.99% of Cypherpunk’s outstanding common stock after exercise.

Who are the entities involved in holding these Cypherpunk warrants?

The securities are held by Winklevoss Treasury Investments, LLC, a wholly owned subsidiary of Winklevoss Capital Fund, LLC, which is managed by Winklevoss Capital Management, LLC, associated with Tyler and Cameron Winklevoss.

Does this Form 4 indicate a purchase or sale of Cypherpunk common stock itself?

No, the report concerns derivative securities (warrants) and describes an assignment for no additional consideration, not an open-market purchase or sale of common shares.