Zcash Founder Zooko Wilcox Joins Cypherpunk Technologies as Advisor… ZEC Gains Continue

Zcash (ZEC) founder Zooko Wilcox has joined Cypherpunk Technologies, the operator of the ZEC treasury, as a strategic advisor. With the company’s stock surging 40%, ZEC’s price has also attracted attention by continuing its rebound over the past month.

On the 10th (local time), Decrypt reported that Cypherpunk Technologies said Wilcox will support the company’s strategy to develop privacy-centric digital systems. Wilcox is the former CEO of the Electric Coin Company and was a key figure who led Zcash’s early development.

Cypherpunk Technologies began building a ZEC treasury in earnest in November. This follows a trend similar to other cryptocurrency treasury companies that hold Bitcoin treasuries, such as Strategy, and firms like Bitmine Immersion Technology that operate Ethereum-focused treasuries. The company recently closed a $58.88 million private round led by Bitcoin supporters Tyler Winklevoss and Cameron Winklevoss and currently holds 233,644 ZEC.

Regarding his joining, Wilcox said, "Cypherpunk Technologies showing conviction in ZEC means that user-controlled privacy is not a niche but a core element of a healthy society," adding, "The company is not simply buying assets but is investing in the principle of economic freedom that Zcash has pursued."

ZEC has shown strong volatility recently. Starting at around $50 in early September, it rose above $700 in November, then corrected to around $300 in early December. It has recently rebounded by about 30% to around $430. However, it still falls short of the $3,191 high recorded in 2016.

Cypherpunk Technologies’ stock also reacted strongly to the news of Wilcox’s joining. As of the close on the 10th, the stock was about $1.62, up 40% from the previous day and more than 250% up month-over-month. The company is strengthening plans to develop privacy technology and support the ZEC ecosystem.

Will McEvoy, Cypherpunk Technologies’ Chief Investment Officer (CIO), said, "Zcash founder Wilcox is someone who deeply understands the philosophy and architecture of privacy-preserving technologies," adding, "His involvement will play an important role in expanding the ZEC treasury and accelerating privacy innovation."

He added, "We are preparing to bring together world-class cryptographers, technologists, and privacy researchers to lead the expansion of the global privacy ecosystem."