This year, Cypherpunk earned $29 million in Zcash with an 866% token explosion.

Key receivers

Nasdaq-listed Cypherpunk Technologies invested $29 million in the purchase of an additional 56,418 ZEC tokens. The latest purchase increases Cypherpunk's total Zcash holdings to over 290,000 ZEC, which is approximately 1.7% of the total circulating Zcash supply.

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Cypherpunk Technologies purchased an additional 56,418 Zcash (ZEC) for $29 million, bringing its total holdings to over 290,000 ZEC, or about 1.7% of all coins currently in circulation, according to a press release on Tuesday.

Zcash is an open source crypto project maintained by developers and researchers who aim to give users strong control over their financial data.

ZEC has made strong returns this year, outperforming many major cryptocurrencies in terms of annualized returns. It is currently trading at $540 on CoinGecko, up 866% so far in 2025.

Backed by the Winklevoss Twins Family Office, Cypherpunk began building the ZEC site last month. The Nasdaq-listed company reported an average cost of about $334 per share.

Will McAvoy, CIO of CypherPunk, said: “We continue to execute on our goal of collecting 5% of the Zcash network.

“As our Zcash space continues to grow, we are well-positioned for a market that reclaims the social value of privacy. We are excited to continue executing on our Zcash strategy by expanding our work across a wide range of privacy protection technologies and initiatives.”