Important points
Cypherpunk Technologies has raised approximately $58.9 million led by Winklevoss Capital to launch a Zcash-focused digital asset vault. The company acquired over 203,775 ZEC and shifted its main business strategy from therapeutics to building an asset vault with a focus on Zcash.
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Cypherpunk Technologies, formerly known as Leap Therapeutics, a cancer research company expanding into digital assets, announced Wednesday that it has completed an approximately $58.9 million private placement led by Winklevoss Capital to launch a digital asset treasury strategy focused on Zcash (ZEC).
Winklevoss Capital is a family office founded by Tyler and Cameron Winklevoss. The company, which manages assets from Facebook payments and early Bitcoin investments, focuses on early-stage technology, fintech, consumer, gaming, and education ventures.
Cypherpunk said it acquired 203,775 ZEC for approximately $50 million. Purchases were made at an average price of approximately $245 per ZEC.
Zcash has very similar functionality to Bitcoin and was created from the original Bitcoin code base. Zcash uses a protocol called “zero-knowledge proofs” that allows users to participate in blockchain transactions while maintaining greater privacy.
The coin has become the second-largest asset in Arthur Hayes’ Maelstrom portfolio after Bitcoin, thanks to a 700% price increase since early October.
In parallel with the private placement, Cypherpunk today also reported financial results for the third quarter of 2025. The company’s third-quarter net loss decreased to $3.3 million due to lower expenses, with cash of $9.7 million ahead of a $58.9 million private placement.
