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Leap Therapeutics Inc. (LPTX) announced it will change its name to Cypherpunk Technologies Inc. and has purchased 203,775.27 ZEC tokens using $50 million from a recently completed private placement.
The company acquired the Zcash tokens at an average price of $245.37 per ZEC. The rebranding includes a ticker symbol change to CYPH, which will take effect November 13, 2025, according to the company’s statement.
Cypherpunk completed a $58.88 million private placement led by Winklevoss Capital, which was the sole institutional investor and contributed a majority of the total raised. The funding will support the company’s digital asset treasury strategy focused on accumulating Zcash.
The company appointed Khing Oei as Chairman of the Board and Will McEvoy as Chief Investment Officer and Board member, both effective November 11, 2025. Christopher Mirabelli will step down as Chairman but remain on the Board.
Oei previously founded Treasury, a euro-denominated Bitcoin treasury firm, and served as CEO of Captur and Chief Investment Officer of Eyck Capital, managing over $200 million in assets. McEvoy is a Principal at Winklevoss Capital focusing on investments in cryptocurrency and frontier technologies.
"The recent weak performance of digital asset treasury companies stems from PIPEs dominated by short-term, mercenary capital. We’ve taken a different path by building a syndicate of value-aligned investors who believe in the long-term importance of Zcash and privacy," McEvoy stated.
The company plans to continue developing its existing cancer treatment programs, sirexatamab and FL-501, alongside its new digital asset strategy. A special stockholder meeting is scheduled for December 15, 2025, to vote on matters related to the strategic shift.