Winklevoss Capital backs a digital asset treasury corporation that aspires to get 5% of the total supply of the cryptocurrency that focusses on privacy.
Nasdaq-listed Cypherpunk Technologies has expanded its crypto corporate treasury by purchasing Zcash coins for nearly $29 million.
Cypherpunk gives the corporate treasury an extra $29 million in ZEC
According to an announcement on Tuesday, the company bought 56,418 Zcash for ZEC$528.87, which is an average price of $514 per coin. Cypherpunk now owns 290,062.67 ZEC, which is about 1.76% of the total number of tokens in circulation.
In 2016, Zcash was made as a fork of Bitcoin. It is a blockchain that focusses on anonymity. It uses zero-knowledge proofs to verify transactions without giving away the sender, receiver, or transaction amount. Like Bitcoin’s, its native token can only have 21 million.
According to Will McEvoy, Cypherpunk’s chief investment officer, the company hopes to capture 5% of the total ZEC supply and is “well positioned for a market that is repricing the societal importance of privacy.”
Leap Therapeutics was the name of the company before it became a biotech company. It changed its name to Cypherpunk Technologies in November and became a digital asset company that specialises on Zcash. Google Finance says that the company’s stock has gone up more than 170%, from $0.44 before it changed its name to over $1.18 at the time of writing.
Cypherpunk is backed by Winklevoss financing, which is the venture funding business of Tyler and Cameron Winklevoss, who started Gemini.
Zcash’s success is driven by privacy concerns.
CoinGecko says that Zcash has gone up more than 800% this year, from about $58 per coin to almost $536. Bitcoin, on the other hand, has lost around 5% of its value in the same time.
The performance comes after new privacy debates in 2025, which were started by advances in AI and digitalisation, as well as support from important crypto experts.
Arthur Hayes, the former CEO of BitMEX, and Mert Mumtaz, the co-founder of Helius, are two people in the crypto world who have indicated that Zcash’s privacy features are one reason why the currency has been performing so well lately, even better than most other altcoins.
On Monday, Hayes wrote on X that ZEC’s price might be about to make its first move towards the $1,000 barrier. He said on a recent podcast that the Fed’s behind-the-scenes funding strategies might help the markets get back to normal. He believes that this adjustment would be excellent for privacy tokens like ZEC and zero-knowledge technology.