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Leap Therapeutics has been renamed Cypherpunk Technologies and has purchased $50 million worth of ZEC.
Deep潮 TechFlow News, November 12, according to Decrypt, biotechnology company Leap Therapeutics has officially renamed itself Cypherpunk Technologies Inc. and shifted to a digital asset reserve strategy. The company announced the completion of a $58.88 million private placement led by Winklevoss Capital and has purchased 203,775.27 ZEC tokens at an average price of $245 each.
The company will change its stock ticker to CYPH starting Thursday. This strategic transformation is accompanied by leadership changes, with Khing Oei appointed as Chairman and Will McEvoy from Winklevoss Capital becoming the first CEO and joining the board.
Cypherpunk Technologies’ CEO stated that the company’s digital asset holdings will complement its biotech business, while “creating long-term shareholder value through active participation in Zcash.”
Previously, biotech company Leap Therapeutics (NASDAQ: LPTX) announced the completion of its previously disclosed private placement, led by Winklevoss Capital, raising $58.88 million to initiate its digital asset treasury strategy.