Cypherpunk Accelerates Zcash Accumulation; Increases Treasury Holdings to 290,062.67 ZEC

Rhea-AI Summary

Cypherpunk Technologies (Nasdaq: CYPH) announced an expanded corporate treasury position in Zcash, acquiring an additional 56,418.09 ZEC for approximately $29 million at an average price of $514.02 per ZEC. After this purchase, the company's total ZEC holdings total 290,062.67 ZEC, acquired at a cumulative average price of $334.41 per ZEC, representing an estimated 1.76% of circulating supply.

The company reiterated a target to accumulate 5% of the Zcash network and said it will continue work on privacy-preserving technologies while executing its Zcash strategy.

Positive

• Total ZEC holdings increased to 290,062.67 ZEC
• Recent purchase of 56,418.09 ZEC for approximately $29 million
• Cumulative average cost of $334.41 per ZEC provides a disclosed cost basis

Negative

• cash outlay increases treasury exposure to Zcash price volatility
• Concentration risk from holding 1.76% of circulating Zcash supply

Key Figures

New ZEC acquired 56,418.09 ZEC Latest treasury purchase disclosed in the announcement

Purchase value $29 million Cost of the latest 56,418.09 ZEC acquisition

Average price (latest buy) $514.02 per ZEC Average price paid for the newest ZEC tranche

Total Zcash holdings 290,062.67 ZEC Corporate ZEC treasury after the latest acquisition

Network ownership 1.76% of supply Estimated share of circulating Zcash network held

Cumulative average cost $334.41 per ZEC Blended acquisition cost across the full ZEC position

Stated Zcash goal 5% of network Management’s stated accumulation target for Zcash holdings

Market Reality Check

$1.18 Last Close

Volume Volume 8,278,187 vs 20-day average 6,995,111 (relative volume 1.18x) before this announcement. normal

Technical Shares at $1.18, trading below the 200-day MA of $1.59 ahead of the Zcash update.

Peers on Argus

No peers in the stated sector showed momentum flags or same-day headlines, suggesting the move was stock-specific rather than sector-driven.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 19	Advisor appointment	Positive	+39.0%	ECC CEO joining as advisor to guide Zcash ecosystem and strategy.
Dec 09	Advisor appointment	Positive	+39.7%	Zcash founder added as strategic advisor to support privacy protocols.
Nov 18	Zcash accumulation	Positive	+22.2%	Additional ZEC purchase lifting holdings to 1.43% of network supply.

Pattern Detected

Recent Zcash- and advisor-related announcements were followed by strong positive price reactions, indicating prior sensitivity to this theme.

Recent Company History

Over the past few months, Cypherpunk has repeatedly highlighted its Zcash-focused strategy. On Nov 18, 2025, it disclosed purchasing 29,869.29 ZEC for $18 million, taking holdings to 233,644.56 ZEC (about 1.43% of the network), which coincided with a 22.22% gain. Subsequent advisor additions on Dec 9 and Dec 19, 2025—including Zcash founder Zooko Wilcox and ECC’s CEO—saw price reactions of 39.66% and 39.02%. Today’s further treasury expansion extends this Zcash accumulation narrative.

Market Pulse Summary

The stock is up +7.2% following this news. A strong positive reaction aligns with the stock’s recent behavior around Zcash-related milestones, which previously saw moves of up to 39.66% after advisor additions and 22.22% following a major purchase. The expanded Zcash treasury to 290,062.67 ZEC and 1.76% of network supply could reinforce the market’s focus on this strategy. Investors would still need to weigh execution risks, prior insider net selling, and concentration in a single digital asset.

AI-generated analysis. Not financial advice.

CAMBRIDGE, Mass., Dec. 30, 2025 /PRNewswire/ -- Cypherpunk Technologies Inc. (Nasdaq: CYPH) ("Cypherpunk"), the privacy-focused technology company, today announced a significant expansion of its corporate treasury. The company has acquired an additional 56,418.09 ZEC for approximately $29 million at an average price of $514.02 per ZEC.

This latest acquisition follows a series of strategic purchases over the preceding months. With this transaction, Cypherpunk's total Zcash holdings now stand at 290,062.67 ZEC, representing an estimated 1.76% of the total circulating network supply. The company's total ZEC position was acquired at a cumulative average price of $334.41 per ZEC.

"We continue to execute on our goal of accumulating 5% of the Zcash network." said Will McEvoy, CIO of Cypherpunk. "As our Zcash position grows, we are well positioned for a market that is repricing the societal importance of privacy. We are excited to continue executing on our Zcash strategy while expanding our work across a broader set of privacy-preserving technologies and initiatives."

About Cypherpunk

Cypherpunk Technologies Inc. is a privacy technology company implementing a digital asset treasury strategy anchored by Zcash and, through its subsidiary Leap Therapeutics, Inc., is developing novel therapies for patients with cancer. The Company is aiming to build long-term shareholder value by acquiring ZEC, participating in the development of Zcash, and continuing the development of sirexatamab and FL-501 to treat patients with cancer. For more information about the Company, visit our websites at http://www.cypherpunk.com and http://www.leaptx.com or view our public filings with the SEC that are available via EDGAR at http://www.sec.gov or via https://investors.leaptx.com/.

About Winklevoss Capital

Winklevoss Capital is an investment firm founded in 2012 by Cameron and Tyler Winklevoss that invests in frontier technologies.

Channels for Disclosure of Information
Going forward, we intend to announce material information to the public through filings with the Securities and Exchange Commission (SEC), the investor relations page on our website, press releases, public conference calls, public webcasts, our X account (@cypherpunk), and our LinkedIn page. The information disclosed in the foregoing channels could be deemed to be material information. As such, we encourage investors, the media, and others to follow the channels listed above and to review the information disclosed through such channels. Any updates to the list of disclosure channels through which we will announce information will be posted on the investor relations page on our website.

FORWARD-LOOKING STATEMENTS
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," and other words of similar meaning. Forward-looking statements address various matters including statements relating to ZEC or digital assets held or to be held by the Company, the expected future market, price and liquidity of ZEC or other digital assets the Company acquires, the macro and political conditions surrounding Zcash or digital assets, the Company's plan for value creation and strategic advantages, market size and growth opportunities, regulatory conditions, competitive position and the interest of other corporations in similar business strategies, technological and market trends, and future financial condition and performance. Risks and uncertainties of the digital asset treasury strategy include, among others: (a) the risk that the Company will fail to realize the anticipated benefits of the digital asset treasury strategy; (b) changes in business, market, financial, political and regulatory conditions; (c) risks relating to the Company's operations and business, including the highly volatile nature of the price of cryptocurrencies, including ZEC; (d) the risk that the price of the Company's Common Stock may be highly correlated to the price of ZEC or other digital assets that it holds; (e) risks related to increased competition in the industries in which the Company does and will operate; (f) risks relating to significant legal, commercial, regulatory and technical uncertainty regarding digital assets generally; and (g) risks relating to the treatment of crypto assets for U.S. and foreign tax purposes. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements. The Company may not actually achieve the forecasts disclosed in such forward-looking statements, and you should not place undue reliance on such forward-looking statements. Such forward-looking statements are subject to a number of material risks and uncertainties including but not limited to those set forth under the caption "Risk Factors" in the Company's most recent Annual Report on Form 10-K filed with the SEC, or as may be included in other reports or information we file with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in its subsequent filings with the SEC. Any forward-looking statement speaks only as of the date on which it was made. Neither the Company, nor any of its affiliates, advisors or representatives, undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date hereof.

CONTACT:

Douglas E. Onsi
President & Chief Executive Officer
Cypherpunk Technologies Inc.
617-714-0360
ir@cypherpunk.com 

For Investors:
Matthew DeYoung
Investor Relations
Argot Partners
212-600-1902
leap@argotpartners.com

For Media:
Jacqueline Ortiz Ramsay
It Factor Strategies
954-294-3249
jacqueline@itfactorstrategies.com 

 

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SOURCE Cypherpunk Technologies Inc.

FAQ

How many ZEC does Cypherpunk (CYPH) now hold after the December 30, 2025 purchase?

Cypherpunk holds 290,062.67 ZEC after the transaction.

How much did Cypherpunk pay for the additional ZEC on December 30, 2025?

The company paid approximately $29 million for 56,418.09 ZEC at an average of $514.02 per ZEC.

What is Cypherpunk's cumulative average price per ZEC and what does it mean for CYPH shareholders?

The cumulative average cost is $334.41 per ZEC, which represents the company's disclosed cost basis for its Zcash treasury position.

What share of the Zcash network does Cypherpunk's treasury represent as of December 30, 2025?

Cypherpunk's holdings represent an estimated 1.76% of the circulating Zcash supply.

What is Cypherpunk's stated accumulation target for Zcash (CYPH)?

The company said it is executing toward a goal of accumulating 5% of the Zcash network.