Cypherpunk Technology faces $7.75M unrealized loss on ZEC holdings

Nasdaq-listed Cypherpunk Technology (CYPH), a corporate acquirer of Zcash (ZEC), is currently facing an unrealized loss of approximately $7.75 million due to a sharp decline in the cryptocurrency's price, Foresight News reported. As of May 13, Cypherpunk held a total of 314,185 ZEC at an average purchase price of $337.86. The estimated loss is based on a current ZEC price of around $313. According to CoinMarketCap, ZEC is currently trading at $337.82, down 37.79%.