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<headerData>
<submissionType>SCHEDULE 13G/A</submissionType>
<previousAccessionNumber>0001193125-24-102955</previousAccessionNumber>
<filerInfo>
<filer>
<filerCredentials>
<cik>0000882095</cik>
<ccc>XXXXXXXX</ccc>
</filerCredentials>
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<liveTestFlag>LIVE</liveTestFlag>



</filerInfo>
</headerData>
<formData>
<coverPageHeader>
<amendmentNo>1</amendmentNo>
<securitiesClassTitle>Common Stock, par value $0.001 per share</securitiesClassTitle>
<eventDateRequiresFilingThisStatement>12/31/2025</eventDateRequiresFilingThisStatement>
<issuerInfo>
<issuerCik>0001509745</issuerCik>
<issuerName>CYPHERPUNK TECHNOLOGIES INC.</issuerName>
<issuerCusip>52187K200</issuerCusip>
<issuerPrincipalExecutiveOfficeAddress>
<com:street1>47 Thorndike Street, Suite B1-1</com:street1>
<com:city>Cambridge</com:city>
<com:stateOrCountry>MA</com:stateOrCountry>
<com:zipCode>02141</com:zipCode>
</issuerPrincipalExecutiveOfficeAddress>
</issuerInfo>
<designateRulesPursuantThisScheduleFiled>
<designateRulePursuantThisScheduleFiled>Rule 13d-1(c)</designateRulePursuantThisScheduleFiled>
</designateRulesPursuantThisScheduleFiled>
</coverPageHeader>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>GILEAD SCIENCES, INC.</reportingPersonName>
<citizenshipOrOrganization>DE</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>0</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>0</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>0</classPercent>
<typeOfReportingPerson>CO</typeOfReportingPerson>
</coverPageHeaderReportingPersonDetails>
<items>
<item1>
<issuerName>CYPHERPUNK TECHNOLOGIES INC.</issuerName>
<issuerPrincipalExecutiveOfficeAddress>47 Thorndike Street, Suite B1-1, Cambridge, Massachusetts, 02141</issuerPrincipalExecutiveOfficeAddress>
</item1>
<item2>
<filingPersonName>Gilead Sciences, Inc.</filingPersonName>
<principalBusinessOfficeOrResidenceAddress>333 Lakeside Drive&#13;
Foster City, California 94404</principalBusinessOfficeOrResidenceAddress>
<citizenship>Delaware</citizenship>
</item2>
<item3>
<notApplicableFlag>Y</notApplicableFlag>
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<item4>
<amountBeneficiallyOwned>0</amountBeneficiallyOwned>
<classPercent>0</classPercent>
<numberOfSharesPersonHas>
<solePowerOrDirectToVote>0</solePowerOrDirectToVote>
<sharedPowerOrDirectToVote>0</sharedPowerOrDirectToVote>
<solePowerOrDirectToDispose>0</solePowerOrDirectToDispose>
<sharedPowerOrDirectToDispose>0</sharedPowerOrDirectToDispose>
</numberOfSharesPersonHas>
</item4>
<item5>
<notApplicableFlag>N</notApplicableFlag>
<classOwnership5PercentOrLess>Y</classOwnership5PercentOrLess>
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<item6>
<notApplicableFlag>Y</notApplicableFlag>
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<notApplicableFlag>Y</notApplicableFlag>
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<item8>
<notApplicableFlag>Y</notApplicableFlag>
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<item9>
<notApplicableFlag>Y</notApplicableFlag>
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<item10>
<notApplicableFlag>N</notApplicableFlag>
<certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.&#13;
&#13;
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
</item10>
</items>
<signatureInformation>
<reportingPersonName>GILEAD SCIENCES, INC.</reportingPersonName>
<signatureDetails>
<signature>/s/ Andrew D. Dickinson</signature>
<title>Andrew D. Dickinson, Executive Vice President and Chief Financial Officer</title>
<date>02/12/2026</date>
</signatureDetails>
</signatureInformation>
</formData>
</edgarSubmission>
