Sec Form 4 Filing - ONSI DOUGLAS E @ CYPHERPUNK TECHNOLOGIES INC. - 2025-11-11

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

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person ONSI DOUGLAS E 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 _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) CEO,CFO,Pres.,GC,Treas.&Sec. (Last) (First) (Middle) C/O CYPHERPUNK TECHNOLOGIES INC., 47 THORNDIKE STREET SUITE B1-1 3. Date of Earliest Transaction (MM/DD/YY) 11/11/2025 (Street) CAMBRIDGE, MA02141 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 of Derivative Security: 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 Restricted Stock Units $ 0 ( 1 ) 11/11/2025 A 2,087,287 ( 2 ) ( 2 ) Common Stock 2,087,287 $ 0 2,087,287 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other ONSI DOUGLAS E C/O CYPHERPUNK TECHNOLOGIES INC. 47 THORNDIKE STREET SUITE B1-1 CAMBRIDGE, MA02141 X CEO,CFO,Pres.,GC,Treas.&Sec. Signatures /s/ Douglas E. Onsi 11/13/2025 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Represents restricted stock units ("RSUs") to be settled on a 1 for 1 basis for shares of Cypherpunk Technologies Inc. ("Company") common stock, par value $0.001 per share ("Common Stock"). The RSUs were awarded pursuant to the Company's 2016 Equity Incentive Plan for no consideration. ( 2 )The RSUs will vest at (i) 12/36th on October 8, 2026 and (ii) 1/36th on the eighth (8th) day of each month thereafter (each, a "Vesting Date"), subject to the reporting person's continued service with the Company. Subject to the terms of the RSU award and applicable tax withholdings, the Company shall settle vested RSUs for Common Stock on the earliest to occur of (i) the first payroll period on or after the date the reporting person's employment with or service to the Company ceases, (ii) the first payroll period on or after the eighth (8th) day of the calendar month of June following any such Vesting Date applicable to such vested RSU or (iii) the first payroll period on or after the eighth (8th) day of the month of December following any such Vesting 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).

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