Leap Therapeutics shares surge 430.42% after-hours after rebranding to Cypherpunk and acquiring $50M in Zcash.

Leap Therapeutics surged 430.42% in after-hours trading following its rebranding to Cypherpunk Technologies and the announcement of a $50 million Zcash (ZEC) treasury strategy. The company, led by new appointments Khing Oei and Will McEvoy, acquired 203,775.27 ZEC at $245.37 per token via a $58.88 million private placement led by Winklevoss Capital. The strategic pivot to Zcash, a privacy-focused cryptocurrency, and the emphasis on long-term value creation through digital asset participation drove investor enthusiasm. The rebranding, coupled with the acquisition of a significant ZEC position and leadership changes, aligned with the stock’s dramatic after-hours rise, reflecting optimism around the company’s new direction in the crypto and privacy technology sector.