Cypherpunk secures a $46M Zcash gain and turns a $4.7M operating loss into $39.4M profit
Summary
Cypherpunk Technologies reported Q2 net income of $39.4 million, reversing a $16.6 million loss a year earlier, mainly because of a $46 million unrealized gain on its Zcash treasury. Operating loss was $4.7 million, with $0.2 million in R&D and $4.5 million in G&A, showing the business remained loss-making before token revaluation. The company marks ZEC to market each quarter; at June 30 it used a price of $400.09, valuing its holdings at $129.4 million. As of Aug. 11, it held 323,394.38 ZEC at an average cost of $341.83, with cash and equivalents of $7.6 million. Separately, Leap Therapeutics began seeking funding or a transaction to advance sirexatamab into Phase 3.
