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Cypherpunk acquires $29 million in Zcash as token explodes 866% this year

cryptobriefing.com 2 h

Altcoins

Key Takeaways

Cypherpunk Technologies, a Nasdaq-listed company, has made an acquisition of an additional 56,418 ZEC tokens, investing $29 million.
The recent acquisition boosts Cypherpunk's total Zcash holdings to over 290,000 ZEC, accounting for approximately 1.7% of the entire circulating Zcash supply.

Cypherpunk Technologies has purchased an additional 56,418 Zcash (ZEC) for roughly $29 million, bringing its total holdings to more than 290,000 ZEC, or about 1.7% of all the coins currently in circulation, according to a Tuesday press release.

Zcash is an open-source crypto project maintained by developers and researchers who aim to give users stronger control over their financial data.

ZEC has staged a strong comeback this year, outperforming many major cryptocurrencies in terms of annual returns. It is currently trading at $540, up 866% so far in 2025, per CoinGecko.

Backed by the Winklevoss twins’ family office, Cypherpunk started building its ZEC position in the past month. The Nasdaq-listed company reports an average cost basis of approximately $334 per coin.

“We continue to execute on our goal of accumulating 5% of the Zcash network,” said Will McEvoy, CIO of Cypherpunk.

“As our Zcash position grows, we are well-positioned for a market that is repricing the societal importance of privacy. We are excited to continue executing on our Zcash strategy while expanding our work across a broader set of privacy-preserving technologies and initiatives.”