Winklevoss-backed stock halted multiple times after wild 550% rally

Core Insights - Leap Therapeutics has transitioned into a crypto treasury firm named Cypherpunk Technologies Inc., focusing on accumulating Zcash's native coin, ZEC [4] - The stock of Leap Therapeutics experienced significant volatility, surging over 550% to an intraday high of $2.48 before trading was halted multiple times [1] - The company secured $58.88 million in a private placement led by Winklevoss Capital, which is associated with the Winklevoss twins, known for their involvement in cryptocurrency [2] Financial Developments - Leap Therapeutics utilized $50 million from the private placement to purchase 203,775.27 ZEC at an average price of $245.37 per coin [5] - Following the investment, the stock resumed trading at $1.85 after the initial volatility [6] Market Context - The involvement of Winklevoss Capital highlights the increasing interest from traditional finance (TradFi) in the cryptocurrency sector [2][4] - The stock's volatility and subsequent trading halts indicate a highly speculative environment surrounding Leap Therapeutics' transformation [1][5]