Overview
- Cypherpunk disclosed the purchase of 203,775.27 ZEC using $50 million at an average price of about $245 per token, representing roughly 1.25% of the circulating supply.
- Shares began trading under the new ticker CYPH on Nov. 13 as the firm pivoted from oncology R&D to a public digital-asset treasury focused on Zcash.
- Khing Oei was appointed chairman and Winklevoss Capital principal Will McEvoy joined as chief investment officer and a director to steer the treasury strategy.
- Company statements and an SEC filing outline an intention to hold at least 5% of Zcash’s supply and to participate in the Zcash community, while governance structures mean token ownership does not confer protocol control.
- ZEC rallied sharply in recent weeks and the stock saw triple‑digit gains after the announcement, leaving Cypherpunk’s holdings with large unrealized gains at recent prices alongside heightened volatility.