If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).




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SCHEDULE 13D




Comment for Type of Reporting Person:
(1) Represents (i) 11,944,445 Class B Ordinary Shares purchased by Antalpha Capital (HK) Limited, a corporation formed in Hong Kong, in the Class B PIPE Financing (as adjusted for the Share Consolidation (as defined below)), (ii) 952,381 Class B Ordinary Shares that Antalpha Capital (HK) Limited has the right to acquire under the Subscription Agreement (as defined below) for an aggregate purchase price of US$2,000,000, which Subscription (as defined below) has not closed as of the date of this Amendment No. 1, and (iii) 11,944,445 Class B Ordinary Shares issuable upon exercise of the Class B ordinary warrants to purchase Class B Ordinary Shares (the "Class B Ordinary Warrants") held by Antalpha Capital (HK) Limited (as adjusted for the Share Consolidation). Antalpha Capital (HK) Limited is wholly owned by Antalpha Platform Holding Company. Class B Ordinary Shares are convertible at any time by the holder thereof into Class A Ordinary Shares on a one-for-one basis. The exercise of Class B Ordinary Warrant is subject to receipt of requisite shareholder approval to increase the authorized shares of the Issuer to ensure that the number of authorized shares of Class B Ordinary Shares is sufficient to cover the issuance of Class B Ordinary Shares pursuant to any exercise of the Class B Ordinary Warrants (the "Required Shareholder Approval"). The Required Shareholder Approval was obtained at the general meeting of holders of Class B Ordinary Shares and the extraordinary general meeting of shareholders, each convened on November 20, 2025. The dispositive power and percentage of Reporting Person's beneficial ownership in class are based on the assumptions that (a) all Class B Ordinary Warrants held by the Reporting Persons are exercised, (b) the 2,222,224 pre-funded warrants and the 800,000 primary warrants of the Issuer outstanding as of September 30, 2026 as set forth in the Subscription Agreement are fully exercised, (c) the Subscription is closed, and (d) all Class B Ordinary Shares, including those from the aforementioned exercise of warrants, are converted into Class A Ordinary Shares on a one-to-one ratio. Total outstanding shares on such fully diluted basis will be 50,583,612, being the sum of (i) 19,636,685 Class A Ordinary Shares and 15,027,877 Class B Ordinary Shares issued and outstanding as of September 30, 2026, as set forth in the Subscription Agreement (as defined below), (ii) the 952,381 Acquired Shares (as defined below), (iii) 2,222,224 Class A Ordinary Shares issuable upon exercise of the pre-funded warrants, (iv) 800,000 Class B Ordinary Shares issuable upon exercise of the primary warrants, and (v) 11,944,445 Class B Ordinary Shares issuable upon exercise of the Class B Ordinary Warrants held by the Reporting Persons. Each holder of Class A Ordinary Shares is entitled to one vote per share and each holder of Class B Ordinary Shares is entitled to fifty votes per share on all matters submitted to them for vote.


SCHEDULE 13D




Comment for Type of Reporting Person:
(1) Represents (i) 11,944,445 Class B Ordinary Shares purchased by Antalpha Capital (HK) Limited, a corporation formed in Hong Kong, in the Class B PIPE Financing (as adjusted for the Share Consolidation (as defined below)), (ii) 952,381 Class B Ordinary Shares that Antalpha Capital (HK) Limited has the right to acquire under the Subscription Agreement (as defined below) for an aggregate purchase price of US$2,000,000, which Subscription (as defined below) has not closed as of the date of this Amendment No. 1, and (iii) 11,944,445 Class B Ordinary Shares issuable upon exercise of the Class B Ordinary Warrants held by Antalpha Capital (HK) Limited (as adjusted for the Share Consolidation). Antalpha Capital (HK) Limited is wholly owned by Antalpha Platform Holding Company. Class B Ordinary Shares are convertible at any time by the holder thereof into Class A Ordinary Shares on a one-for-one basis. The exercise of Class B Ordinary Warrant is subject to receipt of the Required Shareholder Approval, which was obtained at the general meeting of holders of Class B Ordinary Shares and the extraordinary general meeting of shareholders, each convened on November 20, 2025. The dispositive power and percentage of Reporting Person's beneficial ownership in class are based on the assumptions that (a) all Class B Ordinary Warrants (as defined below) held by the Reporting Persons are exercised, (b) the 2,222,224 pre-funded warrants and the 800,000 primary warrants of the Issuer outstanding as of September 30, 2026 as set forth in the Subscription Agreement are fully exercised, (c) the Subscription is closed, and (d) all Class B Ordinary Shares, including those from the aforementioned exercise of warrants, are converted into Class A Ordinary Shares on a one-to-one ratio. Total outstanding shares on such fully diluted basis will be 50,583,612, being the sum of (i) 19,636,685 Class A Ordinary Shares and 15,027,877 Class B Ordinary Shares issued and outstanding as of September 30, 2026, as set forth in the Subscription Agreement (as defined below), (ii) the 952,381 Acquired Shares (as defined below), (iii) 2,222,224 Class A Ordinary Shares issuable upon exercise of the pre-funded warrants, (iv) 800,000 Class B Ordinary Shares issuable upon exercise of the primary warrants, and (v) 11,944,445 Class B Ordinary Shares issuable upon exercise of the Class B Ordinary Warrants held by the Reporting Persons. Each holder of Class A Ordinary Shares is entitled to one vote per share and each holder of Class B Ordinary Shares is entitled to fifty votes per share on all matters submitted to them for vote.


SCHEDULE 13D


 
Antalpha Capital (HK) Limited
 
Signature:/s/ Xin Jin
Name/Title:Xin Jin, Director
Date:10/26/2026
 
Antalpha Platform Holding Company
 
Signature:/s/ Xin Jin
Name/Title:Xin Jin, Director
Date:10/26/2026