<\/p>\n
The new Winklevoss-backed ZEC DAT aims to hold at least 5% of the total Zcash supply. <\/p>\n
The price of Zcash (ZEC<\/a>) surged over 7% in the past 24 hours after Tyler Winklevoss, co-founder of crypto exchange Gemini<\/a>, revealed a new public firm, Cypherpunk Technologies, dedicated to building a corporate treasury around ZEC.<\/p>\n In an X post<\/a> on Nov. 12, Winklevoss said the new digital asset treasury company (DAT) has already acquired roughly 203,775 ZEC at an average cost of about $245 each, equating to approximately 1.25% of the current ZEC supply. <\/p>\n With ZEC currently trading around $491, the treasury\u2019s dollar-value stands at just under $100 million. In total, the company aims to increase its holdings to \u201cat least 5% of the total ZEC supply,\u201d Winklevoss said in the post, which could total over 800,000 ZEC. <\/p>\n \u201cWe feel strongly that Zcash could become a meaningful percentage of Bitcoin\u2019s market capitalization \u2014 just on the merits of it being a privacy hedge or insurance policy to Bitcoin\u2019s transparency alone,\u201d he wrote in the post.<\/p>\n The Gemini founder added that he believes Bitcoin will continue to rise to $1 million per coin by 2035, adding that \u201cZcash could become a meaningful percentage of Bitcoin\u2019s market capitalization.\u201d<\/p>\n Cypherpunk, which trades under the ticker CYPH starting today, Nov. 13, emerged from a rebranding of public biotech firm Leap Therapeutics, which had initially focused on developing cancer therapies. By mid-2025, the firm had cut about 75%<\/a> of its workforce and paused much of its clinical work while exploring strategic alternatives.<\/p>\n In early October, as Leap\u2019s board of directors started seeking \u201cstrategic alternatives,\u201d the firm raised about $58.9 million<\/a> in a private placement led by Winklevoss Capital, the VC firm run by Tyler and Cameron Winklevoss, to fund the pivot into the crypto sector.<\/p>\n Zcash experienced a strong and extended price rally<\/a> starting in early September \u2014 just about a week before Winklevoss Capital\u2019s investment in Leap was announced \u2014 reaching a multi-year high above $700<\/a> last week. <\/p>\n Despite a recent correction, ZEC is still up over 100% on the month, and over 1,100% on the year. The token also led a broader sector-wide rally, with other privacy-focused assets like DASH reaching cycle highs<\/a> into this month. <\/p>\n Some analysts have said the surge reflects increasing demand for privacy in crypto transactions, while at the same time indicates a \u201ca rotation into neglected assets,\u201d as BTC and ETH chop near prices that would keep them flat on the year. <\/p>\nWhat is Cypherpunk?<\/h2>\n
ZEC\u2019s Extended Rally<\/h2>\n