Trading of Leap Therapeutics (Nasdaq: LPTX), the biotech firm transforming into a Zcash treasury firm, halted multiple times on Nasdaq after the stock jumped more than 550% to hit the intraday high of $2.48 on Nov. 12.
Leap Therapeutics recently secured $58.88 million in a private placement led by Winklevoss Capital, an investment firm founded in 2012 by the Bitcoin billionaire twins, Cameron and Tyler Winklevoss . The twins, famously involved in a copyright lawsuit with Facebook founder Mark Zuckerberg, founded the Gemini crypto exchange in 2014.
Following the investment, Leap Therapeutics is going to transform into a crypto treasury firm called Cypherpunk Technologies Inc. and focus on accumulating Zcash's native coin, ZEC.
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By now, the company has used $50 million of proceeds from a private placement to purchase 203,775.27 ZEC at an average purchase price of $245.37 per coin.
Cameron Winklevoss said the LPTX stock has been halted due to volatility.
"TradFi trying to hold us back!"
The stock has since resumed trading and was exchanging hands at $1.85 at the time of writing.
Related: Billionaire twins–backed stock surges 100% after buying $50M 'encrypted Bitcoin'
This story was originally reported by TheStreet on Nov 12, 2025, where it first appeared in the Trading News & Analysis section. Add TheStreet as a Preferred Source by clicking here.
