Following the recent resurgence of privacy-focused cryptocurrencies, Cypherpunk Technologies has introduced a $50 million Zcash (ZEC) treasury strategy with support from Winklevoss Capital.
On Wednesday, Leap Therapeutics officially launched its Zcash Digital Asset Treasury (DAT) strategy and rebranded as Cypherpunk Technologies. The biotech firm had previously closed a $58.88 million private placement in October, led by Winklevoss Capital, as part of its expansion into digital assets. The company now holds 1.25% of the current ZEC supply after purchasing 203,775 ZEC for approximately $50 million, averaging $245.37 per token. Cypherpunk Technologies plans to continue buying Zcash until it owns at least 5% of the total supply, believing that privacy-protecting assets and technologies are essential in an increasingly digital world. The company aims to hold ZEC as its primary digital asset and actively participate in the Zcash community.
Douglas E. Onsi, President and CEO of Cypherpunk Technologies, stated, “The past month has been transformative for the company. We closed a $58.88 million private placement led by Winklevoss Capital and deployed $50 million to build a digital asset treasury focused on long-term shareholder value through active involvement in Zcash development and acquisition.” The company will begin trading on Nasdaq under the ticker CYPH on Thursday, November 13, while its cancer research and development will continue under a subsidiary named Leap Therapeutics.
In a social media post, Gemini co-founder Tyler Winklevoss explained Winklevoss Capital’s investment in Cypherpunk Technologies, stressing the importance of privacy and self-sovereignty online. He wrote, “Privacy is the foundation of many freedoms. It marks the boundary where government and corporate influence end, and individual liberty begins. As our lives shift online, privacy has become scarce.” Winklevoss highlighted Zcash’s close relationship with Bitcoin over the past nine years, calling Zcash “encrypted bitcoin” or “digital cash” if Bitcoin is digital gold. He noted that while Bitcoin serves as a store of value, Zcash enables private transactions. Winklevoss believes that with the rise of AI, now is the right time to accumulate ZEC and that Zcash could capture a significant share of Bitcoin’s market cap, which he predicts will reach $1 million per BTC in the next 5-10 years, leading to substantial appreciation for Zcash.
Zcash has seen a dramatic rise since September, surging 1,775% to a record high of $750 last Friday. It then followed the market downturn, falling over 40% to around $420 before recovering. Currently, Zcash is trading at $507, up 15% on the day.
Frequently Asked Questions
Of course Here is a list of FAQs about the Winklevoss twins investment in the Zcash treasury management company designed to be clear and helpful for all levels of understanding
General Beginner Questions
1 Who are the Winklevoss twins
Cameron and Tyler Winklevoss are wellknown American investors and entrepreneurs famous for their early involvement with Facebook and for being pioneers in the cryptocurrency space founding the Gemini exchange
2 What is Zcash
Zcash is a cryptocurrency similar to Bitcoin but with a key difference it focuses on enhanced privacy It uses advanced cryptography to allow users to shield their transaction details like the sender receiver and amount
3 What does managing the Zcash treasury mean
The Zcash treasury is a fund of Zcash coins that is set aside to pay for the ongoing development marketing and maintenance of the Zcash network and its ecosystem Managing it involves deciding how and when to spend these funds to support the project
4 So what exactly did the Winklevoss twins invest in
They invested 58 million in a specific company that has been chosen to manage and disburse the funds from the Zcash treasury They didnt give money directly to the Zcash protocol itself
Investment Motivations
5 Why did they invest so much money in this
They likely see it as a strong longterm investment in the future of privacyfocused cryptocurrencies By funding the company that manages Zcashs development they are betting that Zcash will become more valuable and widely adopted
6 Is this a sign that Zcash is a good investment
While a major investment from figures like the Winklevoss twins adds credibility it is not a guarantee It indicates they have confidence in its potential but all cryptocurrency investments carry significant risk and you should always do your own research
7 Does this mean the Winklevoss twins now control Zcash
No The company they invested in manages the treasury funds but Zcash itself is a decentralized network Major decisions about the protocols future are still made by its community and developers through a governance process
Technical Advanced Questions
8 How is Zcashs privacy different from Bitcoins
Bitcoin transactions are pseudonymous and recorded on a public ledger for anyone to see Zcash offers shielded transactions that use