Cypherpunk Technologies Launches $50M Zcash Strategy Backed by Winklevoss

Cypherpunk Technologies has launched a $50 million Zcash [(ZEC)](https://holder.io/coins/zec/) treasury strategy. This move follows a private placement of $58.88 million led by Winklevoss Capital, marking the company's expansion into digital assets.

Cypherpunk acquired 203,775 ZEC at an average price of $245.37 per token, currently holding 1.25% of the total ZEC supply.
The company aims to accumulate at least 5% of the total ZEC supply.
The strategy focuses on privacy-protecting assets, with ZEC as its primary digital asset.

The company's trading will commence on Nasdaq under the new ticker CYPH. Its existing cancer research operations will continue under Leap Therapeutics.

Winklevoss Capital's Support

Tyler Winklevoss emphasized the importance of privacy and self-sovereignty in the digital era.
Zcash is described as "encrypted bitcoin" with a symbiotic relationship to [Bitcoin (BTC)](https://holder.io/coins/btc/).
He predicts significant appreciation for ZEC, potentially capturing a portion of BTC's market cap.

Zcash experienced a 1,775% rally to an ATH of $750, followed by a correction. Currently, it trades at $507, up 15% daily.

zcash, zec, zecusdt