This Public Company Rebrands and Starts Accumulating Zcash

• A Nasdaq-listed biotech firm rebrands to shift its corporate focus toward a digital asset strategy centered on Zcash.
• The company begins accumulating Zcash as part of its new treasury strategy while maintaining its biotechnology operations through a subsidiary.

Leap Therapeutics has officially rebranded as Cypherpunk Technologies and immediately announced a new strategy, starting to prioritize Zcash (ZEC) as a key asset.

This decision comes after the company secured $58.88 million in funding from a private placement led by Winklevoss Capital. Interestingly, the majority of the capital was immediately allocated to purchase more than 203,000 ZEC tokens, a surprising move for a company that initially operated in the biotech sector.

Management Realignment Sets the Stage for Zcash Expansion

Furthermore, management has also undergone an internal overhaul. Khing Oei is now the new Chairman, while Will McEvoy has been appointed Chief Investment Officer, directing the company’s digital asset strategy.

These two figures enter a period of intense momentum, as the company begins to shift its priorities toward digital asset-based treasury. However, the biotech business continues to operate through a subsidiary that retains the Leap Therapeutics name.

So, this doesn’t mean the original business has been abandoned; it just means there’s a new, clearly more aggressive branch.

On the other hand, the crypto market is indeed attracting attention, especially with the growing interest in privacy-based assets. Zcash is one of the most talked about.

Recently, CNF reported that Arthur Hayes encouraged ZEC holders to withdraw their assets from exchanges. This encouragement sparked widespread discussion regarding the privacy and security risks of digital assets.

Furthermore, the amount of ZEC held in shielded pools has also surged, reaching 4.1 million tokens. This increase suggests that more users are becoming more comfortable with transactions that cannot be publicly traced.

Technical Setup Points to Crucial Levels Before Any Recovery

However, technical analysis does not always point to a smooth path. Popular crypto analyst Hardy explained a bearish divergence in the ZEC momentum indicator. The price briefly printed a higher high, but the oscillator instead displayed a lower high.

Typically, conditions like this indicate the need for a healthy correction to allow the market to breathe. Hardy believes there are two key areas that could become reaccumulation points: around $344 for daily support and around $235 for weekly support.

He projects that the price may test these areas first before strengthening again. After a consolidation phase deemed sufficient, the next target is expected to be around $750.

Interestingly, Zcash is now popular not only among analysts. Arthur Hayes revealed that ZEC has become the second-largest liquid asset in his Maelstrom portfolio, right after Bitcoin.

Meanwhile, as of the writing time, ZEC is changing hands at about $517.19, up 3.22% over the last 4 hours, and 10.80% over the last 24 hours, with $878.13 million in daily trading volume.