Leap Therapeutics Surges 300% on $50M Winklevoss-Backed Zcash Bet
Leap Therapeutics, the ex-oncology firm that this month raised $58.9 million in funding led by Winklevoss Capital, said it has acquired $50 million worth of Zcash (ZEC) at around $454.92 per coin. The disclosure triggered a roughly 300% spike in LPTX shares as the company formalizes its pivot from biotech to a digital treasury operator and reserves part of its balance sheet in a privacy-focused cryptocurrency.
The move signals growing institutional interest in allocating corporate treasuries to crypto and gives Zcash fresh liquidity and visibility, but it also raises questions about regulatory and market risk. Investors should note the potential for heightened volatility in both LPTX stock and ZEC, and watch for further disclosures about custody, compliance and risk-management measures from the company.