Leap Therapeutics shares surge 392.57% after-hours after rebranding to Cypherpunk, acquiring $50M in ZEC, and appointing crypto-focused leaders.

Leap Therapeutics surged 392.57% in after-hours trading following its rebranding to Cypherpunk Technologies Inc., a strategic pivot toward digital assets. The company announced a $58.88 million private placement led by Winklevoss Capital, allocating $50 million to acquire 203,775.27 Zcash (ZEC) tokens at $245.37 each. This marked its transition from a biopharma firm to a crypto-focused entity, with new leadership—Khing Oei as Chairman and Will McEvoy as CIO—emphasizing long-term Zcash adoption. The rebrand, coupled with a planned ticker change to CYPH, signaled a bold shift into privacy-centric digital assets, aligning with growing corporate interest in crypto treasuries. The move underscored Cypherpunk’s belief in Zcash’s utility for privacy and its potential as a hedge against financial transparency, driving investor optimism.