The American 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 announced the creation of its own digital asset treasury (DAT) based on the cryptocurrency Zcash (ZEC), focusing on the development of the private digital currency market.
This is reported by Finway
Investments in Zcash and Support from Winklevoss Capital
To implement its new strategy, Cypherpunk Technologies raised $50 million through a private placement of shares. The investment was fully funded by Winklevoss Capital, enabling the company to acquire over 203,775 ZEC tokens at an average price of $245 each. Starting November 7, 2025, Cypherpunk Technologies’ securities began trading on the Nasdaq under the new ticker CYPH.
“We are creating long-term value for shareholders through active participation in Zcash,” said Douglas Onsi, President and CEO of Cypherpunk Technologies.
The company has joined the ranks of public organizations that utilize cryptocurrencies in their treasury practices. Unlike others, Cypherpunk is specifically betting on Zcash—a privacy-focused cryptocurrency that employs zero-knowledge proof technology, allowing transactions to be verified without disclosing amounts or participant addresses.
Changes in Leadership and Market Dynamics of Zcash
The board of directors of Cypherpunk Technologies has welcomed new key figures. King Oey, the founder and head of the Dutch company Treasury, which raised $147 million under the leadership of Winklevoss Capital and Nakamoto Holdings for investments in Bitcoin, has been appointed as the chairman of the board. Will McAvoy, a partner at Winklevoss Capital, has become the first investment director of Cypherpunk Technologies.
“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 McAvoy.
Over the past two months, the price of Zcash has increased nearly tenfold, reaching a peak of almost $750, and at the time of writing, it stood at $464. This is still 85% lower than the historical peak in 2016, but it demonstrates a growing interest from major players. According to Galaxy Digital analyst Will Owens, attention to Zcash has intensified amid increasing concerns over transaction traceability on the blockchain.
“Supporters of Zcash 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 launch of Cypherpunk Technologies coincided with the active development of the Zcash ecosystem. In October, Electric Coin Co (ECC) presented a new roadmap, and by early November, the price of ZEC had reached a multi-year high above $536. Analysts link this dynamic to the growing interest of large investors in the token, particularly within the framework of Cypherpunk Technologies’ new strategy.