Leap Therapeutics Rebrands as Cypherpunk Technologies to Focus on Zcash

Core Insights - Leap Therapeutics has rebranded to Cypherpunk Technologies Inc, focusing on a digital asset strategy centered around Zcash [1] - The company has acquired 203,775.27 ZEC at an average price of $245 per token, funded by a $58.88 million private placement led by Winklevoss Capital [2] - Cypherpunk Technologies plans to start trading under the ticker symbol CYPH by November 13 [3] Company Strategy - Cypherpunk Technologies is now a crypto-first entity, emphasizing the use of Zcash, a privacy-focused cryptocurrency that utilizes zero-knowledge proofs for transaction verification [3] - The firm aims to deploy capital towards accumulating ZEC, reflecting a broader trend of companies integrating cryptocurrencies into their balance sheets [4] Industry Trends - The trend of firms adopting crypto treasuries is growing, with notable examples including Michael Saylor's strategy of accumulating Bitcoin, totaling 641,692 BTC [4] - BitMine Immersion Technologies has become the largest corporate holder of Ethereum, with over 3.5 million ETH, representing 2.9% of total circulation [5] - CEA Industries confirmed digital asset and cash holdings valued at $663 million, indicating a strategic move to include Binance's native coin BNB in its corporate treasury [6]