Key facts
- Gemini co-founder Tyler Winklevoss believes Zcash adoption is in its early stages.
- A report suggests hackers are increasingly using Zcash to launder stolen assets.
- Zcash price has gained over 425% in the past 12 months.
- Winklevoss Asset Services filed for a Spot Zcash ETF.
Zcash (ZEC) has seen a recent price decline after a period of strong performance. Gemini co-founder Tyler Winklevoss commented that the privacy coin's adoption is still in its early stages, citing a low number of Zcash holders among attendees at TOKEN2049. Despite this, Zcash has experienced significant investor interest, with its price increasing over 425% in the last 12 months. Winklevoss Asset Services has also filed for a Spot Zcash ETF with the US SEC. Concurrently, a report from Wu Blockchain, citing on-chain analyst Specter, suggests that hackers are increasingly utilizing Zcash to launder stolen funds, complicating investigations. This follows disclosures by blockchain investigator ZachXBT regarding the Bitget exploiter allegedly using Zcash to shield assets from incidents like the Cryptobills Ledger and Triple-A exploits.