While Ethereum (ETH) and many altcoins continue to be adopted by major corporations as part of their treasury strategies, the latest news comes for the most talked-about altcoin of recent times.
According to an official statement, Nasdaq-listed company Leap Therapeutics has unveiled its cryptocurrency treasury strategy focused on the Zcash (ZEC) token.
Accordingly, it announced the adoption of a Digital Asset Treasury (DAT) for accumulating Zcash.
The company also stated that it has rebranded as Cypherpunk Technologies Inc.
The company initially began accumulating Zcash as part of its DAT strategy. Initially, 203,775 ZEC were purchased. $50 million was spent on ZEC purchases, with $245.30 paid for each gin.
“…we’ve taken a different path by building a syndicate of value-focused investors who believe in the long-term importance of Zcash and privacy to the United States and the world,” said Cypherpunk Chief Investment Officer Will McEvoy. “Cypherpunk Technologies Inc. views Zcash as digital privacy in asset form, just as Bitcoin has proven to be digital gold. Zcash also provides a crucial hedge against the opacity of Bitcoin and existing financial infrastructure in a future where AI abounds.”
*This is not investment advice.