Cypherpunk Technologies, the Zcash treasury company, reported $39.4 million in Q2 net income, reversing a $16.6 million loss a year earlier. The company posted a $4.7 million operating loss, but a revaluation of its ZEC holdings generated an unrealized gain of $46 million, using a ZEC price of $400.09 at June 30. Cypherpunk held 323,394.38 ZEC as of August 11, representing approximately 1.92% of the circulating supply, with an aggregate acquisition cost of roughly $110.5 million and a current value of $158.2 million. Its biotech subsidiary Leap Therapeutics is seeking resources to fund Phase 3 development of sirexatamab, with no set timetable and no assurance of financing or a transaction.
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