Oncology biotechnology company Leap Therapeutics (LPTX) has announced fundamental changes to its corporate and financial strategy, now focusing on the cryptocurrency zcash (ZEC).
The company not only invested a large amount of money in acquiring ZEC, but also However, it has also begun the rebranding process to operate under the name Cypherpunk Technologies Inc.a move that had a strong impact on stock prices.
Cypherpunk Technologies invested $50 million from a previously announced private placement to acquire 203,775.27 units of ZEC at an average purchase price of $245.37 per unit.
This strategic shift, as reported by CriptoNoticias, follows a digital asset financing model through stock and debt sales, a method that other companies have applied to various digital assets. With this acquisition, The company aims to capture 5% of the total supply of zcash.
The maximum supply of the asset is set at 21 million units, so the 5% target corresponds to 1,050,000 ZEC units. In a hypothetical scenario, considering that the current market price of the digital currency is $507 per unit, the value of this future holding amounts to approximately $532 million, which can be interpreted as a significant vote of confidence that will positively impact the future valuation of the asset.
The company name change will become official starting today, November 13th. The company plans to list on the Nasdaq under the new stock symbol CYPH.
This announcement and the new financial policy based on ZEC caused a strong reaction in the stock market. Leap Therapeutics (LPTX) stock Increased by 400% last weekas seen in the following graph.
This trend confirms the market’s interest in companies integrating digital assets into corporate reserves, a strategy that has been successful in the long term. It depends on the evolution of Zcash and the new Cypherpunk Technologies vision. succeeded in executing it.