- Cypherpunk has invested C$630,000 in cryptocurrency arbitrage fund Lucy Labs Flagship Offshore Fund SPC
- Lucy Labs is a multi-strategy cryptocurrency asset management firm
- Cypherpunk is a crypto investment company focused on blockchain technologies, the metaverse and privacy-centric cryptographic security protocols
- Shares of Cypherpunk Holdings Inc. (HODL) opened trading at $0.135
Cypherpunk Holdings (HODL) has announced an investment of C$630,000 in cryptocurrency arbitrage fund Lucy Labs Flagship Offshore Fund SPC, managed by Lucy Labs GP LLC.
Lucy Labs is a multi-strategy cryptocurrency asset management firm focused on developing and applying quantitative and fundamental trading strategies in major spot, lending, and futures cryptocurrency markets.
Cypherpunk Holdings CEO Jeff Gao commented on the partnership with Lucy Labs.
“Passive storage of crypto is fast becoming a thing of the past. Those investors who continue to seek exposure to bitcoin via proxies have a plethora of ETFs and listed names to choose from. That is not what Cypherhpunk is about. We offer our investors the opportunity to benefit from crypto from the lens of prudent risk management. The essence of our risk management framework is expressed through our OTC operations as well as through the performance of our strategic partners. We saw in Lucy Labs a product that provided a low volatility income stream and whose performance was largely uncorrelated with our other strategies. Their onboarding comes off the tail of an extensive due diligence process that began in Q3 2021.”
“Crypto volatility continues to bear fruit for skilled operators in this space and the opportunity to blend derivatives with our treasury holdings allows us to construct higher return profiles with similar or lower levels of risk compared to the status quo. For more sophisticated executions, we have partnered with the likes of Lucy Labs to help us construct those desired risk-return profiles. Our journey in this space has just begun. We plan to bring on additional partners with extensive trading and crypto markets experience to help execute directionally neutral strategies across a range of exchanges and instruments. Watch this space closely as Cypherpunk undergoes a pivotal transformation.”
Cypherpunk Holdings is an actively managed crypto investment company with a focus on blockchain technologies, the metaverse and privacy-centric cryptographic security protocols. Current equity investments include Bitcoin, Ethereum, Samourai Wallet, Wasabi Wallet, Chia, NGRAVE, and Animoca Brands.
Shares of Cypherpunk Holdings Inc. (HODL) opened trading at $0.135.