Winklevoss-Backed Cypherpunk Secures $50M Launch
Cypherpunk Technologies launched with over $50 million from Winklevoss Capital. The company is building a treasury of privacy-focused digital assets. It has acquired 203,775 Zcash (ZEC), about 1.25% of the total supply. The goal is to hold at least 5% of Zcash’s supply.
Tyler Winklevoss said privacy is “the precondition for freedom.” He stressed that privacy is increasingly rare in digital life. Cypherpunk aims to support technologies that preserve privacy and self-sovereignty.
Gemini Provides Institutional Custody for Zcash
U.S. crypto exchange Gemini will custody Cypherpunk’s Zcash holdings. Gemini was founded by Cameron and Tyler Winklevoss. The exchange offers institutional-grade custody with multi-signature cold storage and SOC 2 Type II certification.
This partnership marks a shift as institutions begin embracing privacy coins. Gemini’s regulated custody brings privacy assets closer to traditional finance, which had previously been wary of such coins.
Zcash and Privacy as a Growing Focus
Zcash uses zero-knowledge proofs to enable private transactions, unlike Bitcoin. It shares Bitcoin’s supply limit of 21 million coins. Tyler Winklevoss described Zcash as “encrypted bitcoin, digital cash.” He views it as a privacy hedge as Bitcoin gains mainstream adoption.
Gemini is also expanding its institutional offerings. The exchange recently filed with the CFTC to launch Gemini Titan, a regulated derivatives and prediction market platform. This follows Gemini’s efforts to diversify after a challenging post-IPO period.
The partnership between Gemini and Cypherpunk signals growing institutional interest in regulated privacy solutions. It may help privacy coins gain broader acceptance in a digital-first world.
