Zcash
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Cypherpunk’s $46M Zcash Markup Turns a $4.7M Operating Loss Into $39.4M of Net Income
Cypherpunk Technologies reported a net income of $39.4 million for the second quarter, largely due to a $46 million unrealized gain from its Zcash holdings. Excluding this accounting entry, the company incurred an operating loss of $4.7 million. The company's biotechnology subsidiary, Leap Therapeutics, is also seeking resources for its sirexatamab drug program.
Bitcoin Refuses to Budge Below $65,000 as Middle East Conflict Widens
Bitcoin remained stable around $64,700 despite deteriorating macro conditions and escalating Middle East conflict. While oil prices climbed due to attacks on Saudi Arabia, bitcoin showed little movement, unlike gold which saw a 1.5% increase. The article suggests focusing on Treasury yields and oil prices as key indicators for future bitcoin movement, rather than the bitcoin chart itself.
