TechFlow, July 15 — According to Globenewswire, cybersecurity company Cycurion (Nasdaq: CYCU) announced the establishment of a wholly-owned subsidiary, Cycurion Crypto. Pending board approval, the company plans to allocate $10 million from its existing $60 million equity credit facility to build a cryptocurrency reserve for long-term holdings of Bitcoin (BTC) and Ethereum (ETH).
Cycurion CEO Kevin Kelly stated that the move aims to diversify the company's cash reserves and capture potential opportunities in the blockchain economy, while maintaining a disciplined capital allocation strategy. The new subsidiary will strengthen Cycurion’s positioning in blockchain security—an area that intersects with the company’s core zero trust and cybersecurity offerings—creating additional revenue opportunities in the future.
