Winklevoss Brothers Launch Zcash Treasury

Winklevoss Capital invests over $50 million in Cypherpunk to accumulate Zcash (ZEC).

The Winklevoss brothers’ fund, Winklevoss Capital, has invested over $50 million in Cypherpunk, a company focused on accumulating the privacy cryptocurrency Zcash (ZEC).

Privacy is the precondition for many of our freedoms. It’s the point at which government and corporate reach end and our individual freedoms and self-sovereignty begin. As our lives have moved online, privacy’s become a rare, vanishing commodity.

That’s why we founded Cypherpunk… https://t.co/PD38Id90pg

— Tyler Winklevoss (@tyler) November 12, 2025

“Privacy is a prerequisite for many of our freedoms. It marks the boundary where government and corporate power ends, and personal freedoms and sovereignty begin. As our lives have moved online, privacy has become a rare, disappearing commodity. That’s why we founded Cypherpunk,” wrote Tyler Winklevoss in the announcement post.

The firm has already begun accumulating ZEC at a “significant discount compared to the true long-term value” of the asset. At launch, its balance was 203,775 ZEC (~1.25% of the total supply).

The coins were purchased at an average price of ~$245, using all initial investments from Winklevoss Capital.

Cypherpunk plans to rapidly acquire ZEC and increase the total treasury to 5% of the entire supply — approximately 819,000 tokens.

“Since Zcash launched nine years ago, we have observed its quite symbiotic relationship with the first cryptocurrency. Zcash is a fork of Bitcoin, so they share the same tokenomics: both have a fixed supply of 21 million coins. If BTC is digital gold, then ZEC is encrypted Bitcoin or digital cash,” noted Tyler.

At the time of writing, Cypherpunk is traded on Nasdaq under the ticker LPTX, but will soon receive a new one — CYPH. According to MarketWatch, the company was previously known as Leap Therapeutics Inc and was involved in biopharmaceuticals.

It is likely that the firm has become one of the SPAC vehicles for simplified market entry through acquisition. This tactic has been used by several organizations affiliated with Donald Trump, Tron Inc, cloud mining service provider BitFuFu, and many others.

Following the announcement of the Zcash accumulation, Cypherpunk’s stock prices surged by 368% during the last trading session.

In the remainder of the post, Tyler Winklevoss described the advantages of ZEC’s privacy. Towards the end, he predicted Bitcoin’s price could reach $1 million in the next five to ten years, with parallel success for Zcash.

Earlier, amid a 1500% surge in the anonymous coin over two months, analysts suggested a potential price collapse.

BitMEX co-founder Arthur Hayes urged against storing ZEC on centralized exchanges in favor of non-custodial storage.