Zcash (ZEC) Surges, Leap Therapeutics (LPTX) Jumps on Winklevoss-Backed Digital Asset Treasury

Zcash (ZEC) has seen a significant surge alongside Leap Therapeutics (LPTX), which announced a $50 million purchase of Zcash coins at an average price of $245.37. This investment has reportedly more than doubled in value, leading to a 369% increase in LPTX shares following the announcement. Previously known primarily as an oncology biotech firm, Leap Therapeutics is rebranding as Cypherpunk Technologies and will begin trading under the new ticker CYPH. The firm is pivoting towards becoming a digital treasury company, reflecting a growing trend among public firms this year focused on accumulating cryptocurrencies. Despite recent fluctuations in digital asset treasuries, Cypherpunk's strategy aims to attract long-term investors who value privacy and the potential of ZEC. The company's executives believe Zcash provides a necessary hedge against increasingly surveillance-oriented financial systems.

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