Leap Therapeutics Rebrands as Cypherpunk, Pledges $50M to Zcash Treasury
On Nov. 13, 2025, Leap Therapeutics said it is rebranding as Cypherpunk Technologies and committing $50 million to purchase Zcash (ZEC) for its corporate treasury while instituting a leadership overhaul to drive the new strategy. The move marks a dramatic pivot from biotech to privacy-focused crypto holdings, with company executives positioned to steer treasury management, asset custody, and related operational changes.
The allocation is notable for being a sizable, explicit corporate bet on a privacy coin, which could boost ZEC liquidity and market attention. At the same time, the shift raises regulatory and compliance questions—privacy assets face heightened AML and policy scrutiny—making oversight and clear legal frameworks a key watchpoint for investors and regulators. The announcement signals growing institutional experimentation with non-traditional digital assets and may influence how other public companies consider crypto treasuries.