The biotechnology company Leap Therapeutics has completed its rebranding and will now operate under the name Cypherpunk Technologies. As part of its new strategy, the company is focusing on the cryptocurrency Zcash, investing $50 million in this token.
This is reported by Business • Media
Cypherpunk Technologies Focuses on Zcash
As part of the strategic shift, Cypherpunk Technologies has established a Digital Asset Treasury (DAT) based on Zcash (ZEC). The company utilized the $50 million raised from a private stock placement, fully financed by Winklevoss Capital. With these funds, 203,775.27 ZEC tokens were purchased at an average price of $245 per unit.
Since November 7, 2025, Cypherpunk Technologies’ shares have been trading on the Nasdaq under the new ticker CYPH. This move underscores the company’s intention to become a leader among public companies integrating cryptocurrencies into their treasury reserves. A similar approach is currently being adopted by Strategy, focusing on Bitcoin, but Cypherpunk Technologies has specifically chosen Zcash—one of the leading cryptocurrencies with a focus on transaction privacy. Zcash employs zero-knowledge proof technology, allowing transactions to be verified without revealing addresses and amounts.
“We are creating long-term value for shareholders through active participation in Zcash,” said Douglas Onsi, President and CEO of Cypherpunk Technologies.
Structural Changes and New Appointments
The changes also affected the management structure: King Oey has become the Chairman of the Board of Cypherpunk Technologies. He also leads the Dutch company Treasury, which raised $147 million in September 2025 under the guidance of Winklevoss Capital and Nakamoto Holdings for the acquisition of Bitcoins. Will MacAvoy, a partner at Winklevoss Capital, has joined the Cypherpunk team as the company’s first Chief Investment Officer and has been appointed to the board of directors.
“Other crypto treasuries have collapsed under the pressure of short-term, hired capital. We have built a base of investors who share the values of Zcash and see privacy as fundamentally important for the United States and the world,” noted MacAvoy.
According to Galaxy Digital analyst Will Owens, interest in Zcash has significantly increased over the past two months, linked to rising concerns about the traceability of transactions on the blockchain. During this period, the price of Zcash nearly tenfold increased, peaking at around $750, before dropping to $464, which is 85% lower than the historical high of 2016.
“Zcash supporters refer to it as ‘encrypted Bitcoin’—a return to cypherpunk principles in an era of pervasive on-chain surveillance,” he wrote in his report.
The active development of the Zcash ecosystem has recently accelerated: in October 2025, Electric Coin Co (ECC) presented a new roadmap for the project, and in early November, the price of ZEC reached a multi-year high, surpassing the $536 mark. Analysts concluded that the price increase was driven by the accumulation of the token by large investors, among whom Cypherpunk Technologies is now officially listed.