Okay, let's get this straight. A biotech company—Leap Therapeutics—suddenly decides that what the world really needs is another crypto treasury, and they're hitching their wagon to Zcash (ZEC)? And the Winklevoss twins are bankrolling this whole shebang? Give me a break.
The article says Leap Therapeutics "rebranded to Cypherpunk Technologies Inc." because they're pursuing a "digital asset strategy." Right. Because curing diseases is so last decade. Now it's all about zero-knowledge proofs and "long-term shareholder value through active participation in Zcash.”
I mean, are we supposed to believe this?
They bought 203,775.27 ZEC at an average price of $245. Good for them. But the fact that Zcash's price "surged nearly tenfold in two months" before "easing" is a giant red flag. Pump and dump, anyone? Sorry, but that's what it looks like.
And this quote from Cypherpunk's CEO, Douglas E. Onsi: “creating long-term shareholder value through active participation in Zcash.” Oh, please. That's corporate-speak for "we're hoping this gamble pays off before the whole thing implodes."
What "active participation" even means, I have no idea...
Then there's the whole "privacy coin" angle. Galaxy Digital research analyst Will Owens calls Zcash "encrypted Bitcoin," a return to "cypherpunk principles." Okay, I'll bite. The idea that Zcash offers privacy in a world of on-chain surveillance is appealing. Bitcoin's transparency has always been a double-edged sword. But let's be real, how many actual criminals are using Zcash versus people who just don't want everyone knowing how much they spend on avocado toast?
Thing is, Zcash is still a blip on the radar compared to Bitcoin. It's like saying a horse-drawn carriage is a viable alternative to a Tesla because it doesn't use electricity. Sure, it's technically an alternative, but is it really going to replace the established order? I highly doubt it. The article mentions regulatory scrutiny of crypto markets fueling interest in privacy coins. Maybe. Or maybe people are just looking for the next shiny object to gamble on.
And this "rebranding" is so transparently opportunistic. Like slapping a new coat of paint on a rusty old car and expecting people to think it's a Ferrari.
The CYPH stock jumped 100%? So what? It's a volatile market, fueled by hype and FOMO. Retail investors on Stocktwits are "extremely bullish"? That's usually a sign to run for the hills.
I gotta ask, is this about a genuine belief in cypherpunk ideals, or is it just the Winklevoss twins trying to diversify their portfolio after Gemini's reported $159.5 million net loss? I'm betting it's the latter.
Oh, and somebody named Thor Torrens (former POTUS advisor, apparently) said the stock rise "reinforces his long-standing view that 'privacy is not a trend.'" Well, Thor, with all due respect, a single stock surge ain't exactly proof of a paradigm shift. It's a blip. A momentary spike. A fart in the wind.
McEvoy claims Cypherpunk built a "value-aligned" investor base, focused on the long-term importance of Zcash and privacy for the "United States and the world." But let's be real: investors are "value-aligned" until the moment the price tanks. Then it's every man for himself.
And the fact that Cypherpunk is aiming for 5% of Zcash's total supply? That sounds less like a "treasury strategy" and more like a blatant attempt to manipulate the market.
This whole thing feels like a house of cards waiting to collapse. A biotech company pivoting to crypto, backed by the Winklevoss twins, fueled by hype and "cypherpunk principles"...It all sounds too good to be true.
