Cypherpunk Reports Full Year 2025 Financial Results

Privacy technology company Cypherpunk expands Zcash holdings and invests in Zcash development team

Mar. 16, 2026 at 8:51pm

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Cypherpunk Technologies Inc., a privacy technology company, reported its financial results for the year ended December 31, 2025. The company closed a $58.88 million private placement led by Winklevoss Capital, increased its Zcash (ZEC) treasury holdings to 294,743.10 ZEC, and invested $5 million in Zcash Open Development Lab (ZODL), the development team behind the leading Zcash wallet. Cypherpunk also reported progress in its subsidiary Leap Therapeutics' development of the anti-DKK1 monoclonal antibody sirexatamab for colorectal cancer treatment.

Why it matters

Cypherpunk's focus on privacy-preserving technologies and its investment in Zcash, a privacy-focused cryptocurrency, reflects the growing importance of digital privacy in an increasingly digital and AI-driven world. The company's strategic moves, including the Zcash treasury and investment in ZODL, aim to advance the adoption and development of privacy-enhancing technologies.

The details

In 2025, Cypherpunk rebranded from its previous name and raised $58.88 million in a private placement led by Winklevoss Capital. The company used the funds to purchase 294,743.10 ZEC, representing approximately 1.78% of the total circulating supply of Zcash. Cypherpunk also made a $5 million strategic investment in ZODL, the development team behind the leading Zcash wallet, Zodl. Through its subsidiary Leap Therapeutics, Cypherpunk presented positive clinical data for its anti-DKK1 monoclonal antibody sirexatamab in colorectal cancer patients and is engaging with regulatory authorities to discuss the next steps in sirexatamab's development.

  • Cypherpunk rebranded and raised $58.88 million in a private placement in October 2025.
  • As of March 12, 2026, Cypherpunk holds a total of 294,743.10 ZEC.
  • In March 2026, Cypherpunk invested $5 million in Zcash company ZODL.

The players

Cypherpunk Technologies Inc.

A privacy technology company that is focused on advancing privacy-preserving technologies, including through its investment in Zcash and its subsidiary Leap Therapeutics.

Winklevoss Capital

An investment firm founded in 2012 by Cameron and Tyler Winklevoss that led the $58.88 million private placement in Cypherpunk.

Zcash Open Development Lab (ZODL)

The development team behind the leading Zcash wallet, Zodl, in which Cypherpunk made a $5 million strategic investment.

Leap Therapeutics, Inc.

A subsidiary of Cypherpunk that is developing novel therapies for patients with cancer, including the anti-DKK1 monoclonal antibody sirexatamab.

Douglas E. Onsi

President and CEO of Cypherpunk Technologies Inc.

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What they’re saying

“2025 was a transformational year. Following a $58.88 million private placement led by Winklevoss Capital, we rebranded as Cypherpunk to become a privacy technology company with a digital asset treasury strategy focused on Zcash, while advancing sirexatamab for the treatment of patients with colorectal cancer through our Leap Therapeutics subsidiary.”

— Douglas E. Onsi, President and CEO of Cypherpunk Technologies Inc.

“Since we began operating as Cypherpunk in October, we have purchased 294,743.10 ZEC for our treasury and made a $5 million strategic investment in Zcash Open Development Lab ('ZODL'), the development team behind Zodl, the leading Zcash wallet. In the year ahead, we will remain focused on advancing the adoption of Zcash and expanding our efforts across a broad set of technologies that defend privacy.”

— Will McEvoy, Chief Investment Officer of Cypherpunk

What’s next

Cypherpunk is engaging with regulatory agencies to discuss the registrational pathway for sirexatamab in DKK1-high colorectal cancer patients and is working to optimize the DKK1 biomarker diagnostic test.

The takeaway

Cypherpunk's focus on privacy-preserving technologies, its investment in Zcash, and its subsidiary's progress in developing a novel cancer therapy highlight the company's commitment to advancing the frontier of digital privacy and innovative healthcare solutions.