Plan B Network and its associated Plan B VC Fund have officially announced the launch of CypherTank, a groundbreaking Bitcoin-focused pitch competition. This innovative initiative is slated to take place in Lugano, Switzerland, coinciding with the esteemed Plan B Forum. With an impressive total prize pool exceeding $850,000, CypherTank is meticulously designed to not only elevate and fund innovative Bitcoin projects but also to firmly establish Lugano as a preeminent global hub for Bitcoin-related activities and development.

The competition will showcase a carefully curated selection of eleven pioneering projects. This cohort includes eight for-profit ventures and three nonprofit initiatives, each vying for recognition and support across diverse and critical categories within the Bitcoin ecosystem. For-profit contestants will present solutions spanning essential areas such as on-chain Bitcoin technology advancements, sophisticated Lightning Network applications, innovative peer-to-peer (P2P) solutions, and tailored strategies for burgeoning emerging markets. The scope of these categories underscores a comprehensive approach to fostering Bitcoin innovation across various technical and geographical fronts.

Winners in the for-profit segment are poised to receive substantial backing. They will share a pre-authorized investment of $450,000, structured as a capped SAFE (Simple Agreement for Future Equity) provided directly by the Plan B VC Fund. Furthermore, these winners will benefit from an additional $200,000 worth of invaluable incubation and acceleration services, to be delivered at the dedicated Lugano Plan B Hub. Giacomo Zucco, the Director of the Plan B Network, emphasized the dual benefit for participants: “CypherTank is designed to give Bitcoin founders not only capital, but a global stage. By recording real negotiations, scoring pitches, and sharing episodes online, we’re amplifying innovation and drawing attention to Lugano as a Bitcoin hub.” This statement highlights the competition's commitment to providing both financial leverage and unparalleled visibility.

A defining characteristic of CypherTank is its pioneering approach as the first Bitcoin-only pitch series that will meticulously film real founder–investor negotiations. These raw and authentic discussions will be combined with rigorous judge panel scoring, providing an unprecedented look into the investment process. The resulting episodes are slated for global distribution across major platforms including YouTube, Rumble, and X by the close of 2025. This transparent and widely accessible format aims to democratize access to valuable insights for aspiring founders and enthusiasts alike, while further solidifying Lugano's image as a center for Bitcoin excellence.

The caliber of the judging panel assembled for CypherTank is exceptionally high, featuring a roster of luminaries and thought leaders from the cryptocurrency industry. Esteemed judges include Paolo Ardoino from Tether, Adam Back of Blockstream, Matt Odell representing Ten31, Mike Jarmuz from Lightning Ventures, and Preston Pysh of Ego Death. These experts will meticulously evaluate projects through multiple rounds, with the semifinals scheduled for October 22, and the highly anticipated finals set for October 27, 2025. In parallel, nonprofit projects will compete in their own vital categories, focusing on human rights protection, scientific breakthroughs leveraging Bitcoin, and local Lugano Bitcoin-Citadel initiatives. The winning nonprofit organizations will collectively receive a $200,000 non-dilutive grant from the Plan B Foundation, with the exciting prospect of securing additional grants from the distinguished panel of judges.

Applications are currently open for both for-profit startups and nonprofit projects eager to participate in this transformative event. CypherTank represents a crucial leap forward in the ongoing evolution of Bitcoin, extending beyond mere funding to offer a dynamic and globally visible platform for showcasing cutting-edge innovation within the Bitcoin space. The competition’s well-structured framework, which expertly merges significant investment opportunities with unparalleled global exposure, strategically positions it as a powerful catalyst. It is anticipated to ignite the next significant wave of Bitcoin development, adoption, and entrepreneurial activity, inviting a broad spectrum of participants to contribute to its promising future.