Leap Therapeutics shares surge 11.71% after-hours as Cypherpunk rebrands, acquires 203,775 ZEC, and appoints crypto-focused executives.

Leap Therapeutics (now Cypherpunk Technologies) surged 11.71% in after-hours trading following its rebranding announcement and strategic pivot to a Zcash-focused digital asset treasury. The company revealed it spent $50 million of a $58.88 million private placement (led by Winklevoss Capital) to acquire 203,775.27 ZEC, emphasizing long-term value creation through privacy-preserving blockchain technology. New leadership appointments—Khing Oei as Chairman and Will McEvoy as Chief Investment Officer—underscored the shift, aligning with growing institutional interest in crypto treasuries. The move, coupled with a ticker change to CYPH, signaled a transformative shift toward digital assets, contrasting with traditional biotech operations, and likely drove investor optimism.