Cypherpunk posts $39.4M Q2 net income as ZEC holdings gain value

Nasdaq-listed Cypherpunk Technology (CYPH), which has been accumulating ZEC, said through an official channel on Aug. 12 that it posted about $39.4 million in net income for the second quarter, swinging from a $16.6 million net loss a year earlier. The return to profit stemmed from about $46 million in unrealized gains tied to the fair-value remeasurement of its ZEC holdings. ZEC rose to $400.09 from $243.35 over the same period. As of Aug. 11, Cypherpunk held 323,394.38 ZEC, worth about $129.4 million and equal to 1.92% of ZEC’s circulating supply. Its average purchase price for ZEC was $341.83. According to CoinMarketCap, ZEC was recently trading at $490.64, up 0.31%.