Cypher Tank Expands in Lugano, Betting on Bitcoin Founders with Larger Prize Pool

Cypher Tank is back for its second season in Lugano, expanding its bet on Bitcoin founders. The event, promoted and funded by Plan ₿ VC Fund and the Plan ₿ Foundation, pairs a 'Shark Tank' negotiation format with documentary-style production to film real pitches, deals, and judge deliberations.

The competition has expanded its finalist field to 12 projects, up from last year's 11. Founders will compete for direct investment from judges known as the 'honey badgers' and one of three $100,000 prizes in incubation, acceleration, or relocation services.

The selection process involves a committee evaluating submissions based on alignment with individual freedom, privacy, decentralization, and resilience; execution ability, sustainability, and market feasibility; and integration within the Plan ₿ ecosystem. Finalists will be chosen by September 30, and the competition will unfold in four phases.