Cypherpunk Technologies Inc. NASDAQ: CYPH Treasury Reserve
The premier institutional digital asset treasury holding physical Zcash on balance sheet. Operates a MicroStrategy-style accumulation playbook with zero debt covenants.
$2.98
-9.97% (24h)
ZEC Treasury Reserve
335,702 ZEC
1.98% of total network supply
Reserve USD Value
$412.2M
Spot price: $1,227.90
Average Cost Basis
$335.89
+265.6% Unrealized P&L
mNAV Multiple
1.64x
Diluted mNAV: 1.99x
Implied Diluted Market Cap
$675.0M
226.5M in-the-money shares
Capital Structure & Dilution Waterfall
SEC Form 10-Q & Form 4
Cypherpunk Technologies capital structure consists of basic common shares plus exercised and unexercised pre-funded warrants issued in private placements:
1. Basic Common Shares Outstanding
107,764,382
2. Exercised Pre-Funded Warrants
Form 4 ↗
16,570,852
3. Non-Exercised Pre-Funded Warrants
Form 10-Q ↗
102,167,808
Diluted Share Count (mNAV Baseline)
226,503,042
4. Maximum Fully Diluted Authorized Cap
333,340,000
Analyst Guidance: Because pre-funded warrants carry negligible exercise prices (typically $0.0001), institutional research models treat them as economically equivalent to common shares.
Treasury Accumulation History
Valuation Simulation ↗
Verifiable balance sheet accumulation since initial adoption (November 2025).
Cypherpunk Technologies Statutory Filings & News
RSS ↗Direct statutory SEC EDGAR filings, material disclosure notices, and verified corporate releases
Official SEC Edgar filing accession #0001231919-26-001453. Form type: 4.
Official SEC Edgar filing accession #0002092596-26-000004. Form type: 4.
The proposed fund would hold ZEC directly, trade on Nasdaq under "WINK" with Gemini as custodian, and add the Winklevoss twins to a wave of institutional interest in the privacy...
The proposed fund would charge a 0.25% fee and names Zcash treasury company Cypherpunk Technologies as its ecosystem partner.
Official SEC Edgar filing accession #0001104659-26-111063. Form type: 4.
Official SEC Edgar filing accession #0001104659-26-111061. Form type: 4.
Official SEC Edgar filing accession #0001104659-26-109463. Form type: 8-K.
Official SEC Edgar filing accession #0001104659-26-104753. Form type: 8-K.
Official SEC Edgar filing accession #0001104659-26-102467. Form type: 4.
Official SEC Edgar filing accession #0001104659-26-100330. Form type: 4.
Official SEC Edgar filing accession #0002092596-26-000002. Form type: 4.
Official SEC Edgar filing accession #0002085726-26-000002. Form type: SCHEDULE 13D/A.
Official SEC Edgar filing accession #0001231919-26-000951. Form type: 4.
The Nasdaq-listed privacy firm launched Cypherpunk Mining through a $33.33 million equity deal with Winklevoss Capital, adding roughly 18% of the Zcash network's hashrate to acc...
Official SEC Edgar filing accession #0001104659-26-098120. Form type: 8-K.
Official SEC Edgar filing accession #0001104659-26-094449. Form type: 10-Q.
Official SEC Edgar filing accession #0001104659-26-094445. Form type: 8-K.
Official SEC Edgar filing accession #0001104659-26-085399. Form type: 8-K.
Official SEC Edgar filing accession #0001104659-26-080497. Form type: 4.
Official SEC Edgar filing accession #0001104659-26-080496. Form type: 4.
Official SEC Edgar filing accession #0001104659-26-080495. Form type: 4.
Official SEC Edgar filing accession #0001104659-26-080494. Form type: 4.
Official SEC Edgar filing accession #0001104659-26-080493. Form type: 4.
Official SEC Edgar filing accession #0001104659-26-080492. Form type: 4.
Official SEC Edgar filing accession #0001104659-26-080491. Form type: 4.
Cypherpunk Technologies shares tumbled to their lowest point since March as jitters tied to a Zcash bug knocked the Winklevoss-backed firm.
Prominent privacy coin Zcash (ZEC) has jumped 7% over the last day as the Zcash Open Development Lab announced a $25 million fundraise.
Cypherpunk Technologies boosted its zcash bet with a $28 million token purchase, lifting its holdings to 1.7% of ZEC’s circulating supply.
In a wide-ranging interview with CoinDesk's Jennifer Sanasie, Zooko Wilcox, founder of Zcash, explains his new role as Strategic Advisor to Cypherpunk Technologies and why he be...