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

Zcash (ZEC) experienced a significant surge recently, largely attributed to Leap Therapeutics' announcement that it purchased $50 million worth of ZEC as part of its pivot from an oncology biotech firm to a digital treasury firm. This investment was at an average price of $245.37 each and has more than doubled in value since the purchase. Leap Therapeutics also revealed plans to rebrand as Cypherpunk Technologies, set to begin trading under the ticker CYPH. Following the news, Leap's shares skyrocketed by 369%. Amid this, ZEC continued its upward trend, seeing a 12.2% increase over 24 hours to reach $523. The company aims to leverage a different approach than other digital asset treasury firms by building a syndicate of long-term investors focused on Zcash's privacy features, which they view as a hedge against financial surveillance systems.

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