Winklevoss Twins Back Zcash (ZEC) With $58M Investment
Following the recent comeback of privacy focused cryptos, Cypherpunk Technologies has launched a $50M ZCASH $ZEC treasury strategy backed by Winklevoss Bros.
Cypherpunk Technologies Launches Zcash DAT
On Wednesday, Leap Therapeutics announced the official launch of its Zcash Digital Asset Treasury (DAT) strategy & rebrand to Cypherpunk Technologies.
The biotech company previously revealed that it had closed a $58.88M private placement in Oct, led by Winklevoss Capital, as part of its plan to expand to the digital assets sector.
The company currently holds 1.25% of the current ZEC supply after acquiring 203,775 $ZEC at an aggregate purchase price of approx $50M or $245.37 per coin.
Cypherpunk Technologies will reportedly continue to accumulate Zcash to own at least 5% of the total ZEC supply.
On X, co-founder, Tyler Winklevoss, explained the reasons behind Winklevoss Capital’s investment in Cypherpunk Technologies, emphasizing the importance of supporting privacy & self sovereignty in the online era.
“Privacy is the precondition for many of our freedoms. It’s the point at which government and corporate reach end and our individual freedoms and self-sovereignty begin. As our lives have moved online, privacy’s become a rare, vanishing commodity.”
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