Leap Therapeutics to Rebrand as Cypherpunk Technologies Inc.
Leap Therapeutics, a biotech company based in Cambridge, Massachusetts, is set to change its name to Cypherpunk Technologies Inc., as announced on November 12. Starting tomorrow, the company will trade under the ticker symbol “CYPH.” This shift reflects its transition from biotechnology to focusing on crypto assets, particularly aiming to accumulate Zcash’s native cryptocurrency, ZEC.
To date, Cypherpunk has acquired 203,775.27 ZEC, with an average purchase price of $245.37 per coin, using funds from a $50 million private placement.
Recently, the company raised $58.88 million in a private placement led by Winklevoss Capital, which was founded by Cameron and Tyler Winklevoss. The Winklevoss twins are known for their past legal disputes with Facebook’s Mark Zuckerberg and for launching the Gemini cryptocurrency exchange in 2014.
Leap Therapeutics’ stock has surged over 100%, currently trading at $87.55.
Zcash, established in 2016 as a fork of Bitcoin, emphasizes privacy with its use of zero-knowledge proofs (zk-SNARKs), enabling transaction validation without disclosing sender, recipient, or amount details.
Tyler Winklevoss commented on the changes, stating that Cypherpunk is committed to privacy and empowering users by accumulating and supporting privacy-focused assets and technologies. He highlighted that they are acquiring Zcash at what he perceives as a significant discount to its true long-term value, with plans to own at least 5% of ZEC’s total supply.
He also discussed the “highly symbiotic relationship” between Zcash and Bitcoin, suggesting that if Bitcoin is deemed digital gold, then Zcash can be considered encrypted Bitcoin or digital cash—a private alternative for transferring value.
“If Bitcoin is digital gold, then Zcash is encrypted Bitcoin, or digital cash. One is a store of value, and the other is a private way to move value.”
Winklevoss believes it’s an opportune moment to start accumulating ZEC, especially as the world leans into the AI era. He anticipates Zcash capturing a considerable share of Bitcoin’s market capitalization, owing to its privacy and insurance features.
Looking ahead, he predicts Bitcoin could reach $1 million within the next 5 to 10 years, and Zcash is poised for growth as well.
