Cypherpunk Technologies Increases Zcash Holdings to 1.43% of Network with $18 Million Investment

Cypherpunk Technologies Inc. (Nasdaq: CYPH) announced on November 18, 2025, an additional investment of $18 million in Zcash (ZEC), acquiring 29,869 ZEC tokens at an average price of approximately $603 per ZEC. This latest acquisition significantly boosts the company's stake in the privacy-focused cryptocurrency. The company stated on social media, "> Cypherpunk has accumulated an additional 29,869 ZEC for $18 million at an average price of ~$603 per ZEC. As of 11/18/25, we ZODL ~1.43% of the network."

This recent purchase brings Cypherpunk's total ZEC holdings to 233,644 tokens, with an overall average acquisition cost of $291.04 per ZEC. The company previously made an initial investment of approximately $50 million, securing 203,775 ZEC at an average price of $245.37. With these combined holdings, Cypherpunk now controls approximately 1.43% of the entire Zcash network's circulating supply.

Cypherpunk Technologies, a digital-asset treasury firm, positions Zcash as a "digital privacy in asset form" and a "censorship-resistant" asset, aligning with its mission to support privacy and self-sovereignty in a digitized world. The company's digital asset strategy is substantially backed by Winklevoss Capital, which led a $58.88 million private placement earlier this year. Will McEvoy, a principal at Winklevoss Capital, serves as Cypherpunk's Chief Investment Officer and a board member.

The market has reacted positively to institutional interest in ZEC, with the token surging over 10% in the 24 hours preceding the announcement and advancing 140% over the past month. Cypherpunk is reportedly sitting on over 100% in paper gains from its ZEC investments. This rally is further fueled by the upcoming Zcash halving event, also scheduled for November 2025, which will reduce block rewards and tighten the cryptocurrency's supply.

Cypherpunk Technologies, formerly known as Leap Therapeutics, Inc., aims to build long-term shareholder value by continuing to acquire ZEC and actively participating in the Zcash community. The company has expressed intentions to increase its ZEC holdings to at least 5% of the total supply, signaling a strong long-term commitment to the privacy coin.