Cypherpunk Holdings Disavows Unauthorized ZEC Token on Robinhood Platform

Cypherpunk Holdings, the public company behind the CYPH stock, issued a statement on September 8, 2026 distancing itself from a token on Robinhood’s blockchain that carries the ZEC ticker. The firm emphasized that it only holds Zcash (ZEC) on its native blockchain and has never created or issued a token on Robinhood.

Company clarification

In a post on X, Cypherpunk wrote that its only security is the CYPH share listed on Nasdaq and that the ZEC token on Robinhood is unauthorised. The clarification follows similar warnings from other public companies about unofficial tokenizations of their equities.

Market reaction

• CYPH stock surged roughly 40% in the past five days and more than 250% over the last 30 days.
• Zcash (ZEC) broke the $1,200 level, up over 30% in the past week and more than 100% since the start of the year.

Criticism of ZEC’s rally

Social‑media commentator Samson Mow labeled the recent ZEC price move as an “obvious pump and dump.” Analyst “Chun” echoed skepticism, describing the rally as narrative‑driven rather than based on protocol growth. Chun highlighted several concerns, including:

• The original four‑year Founders’ Reward that allocated about 20% of block rewards to early backers.
• Centralised governance issues within the Electric Coin Company.
• A bug disclosed in May 2026 in the Orchard mining pool that could allow undetectable counterfeit coin creation.

Broader context

The warning from Cypherpunk arrives days after AMC Entertainment’s CEO demanded Robinhood stop trading a token linked to AMC shares, underscoring growing scrutiny of unofficial tokenizations on retail platforms.