Overview
- The company said it purchased about 203,775 ZEC for roughly $50 million at an average price near $245 per token.
- Shares will begin trading on Nasdaq under the new ticker CYPH on Thursday.
- Khing Oei was named chairman and Will McEvoy, a principal at Winklevoss Capital, was appointed CEO and director.
- Management frames Zcash exposure as a long-term strategy tied to privacy-focused technology using zero-knowledge proofs.
- Third-quarter results showed a $3.3 million net loss and $9.7 million in cash before the private placement.