Leap Therapeutics relaunches as crypto treasury focused on Zcash

The rebrand and strategic shift were part of a $58.88 million private round fully financed by Winklevoss Capital, the venture firm founded by Cameron and Tyler Winklevoss, co-founders of the Gemini exchange. Following the deal, the company’s shares will trade under the ticker CYPH.

As part of its new strategy, Cypherpunk Technologies purchased 203,775 ZEC at an average price of $245 per coin, marking one of the largest corporate allocations to a privacy cryptocurrency. CEO Douglas Onsi said digital assets will now be a core component of the firm’s long-term value strategy through participation in the Zcash ecosystem.

The company stated it will not abandon its biotech operations entirely but will focus primarily on digital asset investments and crypto treasury development.

The new chairman is Khing Oei, founder of the Dutch firm Treasury, which previously raised $147 million with backing from Winklevoss Capital and Nakamoto Holdings.

Will McEvoy, a partner at Winklevoss Capital, has been appointed CEO. He said Cypherpunk Technologies will follow a value-based capital model rather than speculative investing.

Interest in Zcash has grown amid increased on-chain monitoring and regulatory pressure on privacy networks. Often described as an “encrypted Bitcoin,” Zcash embodies the cypherpunk ideals of financial freedom and privacy.

The launch of Cypherpunk Technologies reflects a broader trend of companies adopting MicroStrategy’s model — but focused on privacy blockchains. It marks the first public example of a biotech company fully transitioning into crypto asset management, with Zcash positioned as a key institutional reserve asset.