Simply put
- Zcash co-founder Zooko Wilcox has taken on the role of advisor at Cypherpunk Technologies, a finance company focused on ZEC.
- Following this news, Cypherpunk’s stock surged by 40% on Tuesday.
- The privacy coin has experienced a notable comeback over the past three months.
Cypherpunk Technologies Inc. revealed on Tuesday that Zooko Wilcox, the founder of the well-known privacy coin Zcash, now serves as a strategic advisor. Previously, he was the CEO of Electric Coin Company.
The timing of this announcement coincided with a significant upturn in Cypherpunk’s stock, even as Zcash itself is recuperating from prior losses. According to Cypherpunk, Wilcox is expected to spearhead the development of a self-sovereign digital framework that emphasizes privacy and freedom.
Starting in November, Cypherpunk began integrating Zcash, joining other cryptocurrency firms like major player Bitcoin Strategy and Ethereum’s BitMine Immersion Technologies.
Previously known as Leap Technologies, Cypherpunk raised nearly $59 million in private placements. Led by the Winklevoss twins, who are vocal proponents of Bitcoin and co-founders of the Gemini exchange, Cypherpunk has accumulated around 233,644 ZEC, which currently holds a valuation of about $100 million.
“Cypherpunk’s commitment to ZEC clearly illustrates that user-controlled privacy isn’t just a niche; it’s a fundamental component of a robust and stable society,” Wilcox expressed in a press release. “Investing in Cypherpunk goes beyond digital assets; it’s about supporting the principles of economic freedom that Zcash champions.”
Zcash has recently seen substantial price growth, climbing from about $50 per coin in early September to a peak exceeding $700 in November. However, it fell to nearly $300 by early December, only to experience a resurgence recently, trading at around $430—a gain of about 30%. Nonetheless, it remains well below its all-time high of $3,191 from 2016.
On Tuesday, Cypherpunk’s share prices surged, closing intraday trading at approximately $1.62, representing a 40% rise. Even though CYPH has dipped from its recent highs of around $3 each, it has increased over 250% in the last month.
“Given his founding role in Zcash, Zooko possesses a deep understanding of both the technical aspects and the ideology behind privacy-preserving technology,” said Will McEvoy, Cypherpunk’s chief investment officer. “His insights will be crucial as Cypherpunk expands its Zcash assets and promotes innovations in privacy that enhance freedom and individual sovereignty.”
“This is just the start,” he added. “We’re putting together an exceptional team of cypherpunks, cryptographers, technologists, and thinkers dedicated to enhancing Zcash and the global privacy landscape.”
