Zcash gains 20% as Paradigm founder reveals firm made ZEC investment
Summary
Zcash (ZEC) rose about 20% in 24 hours and roughly 160% over the past month after Paradigm co-founder Matt Huang said Paradigm made an unspecified ZEC purchase. Huang also said Paradigm is an investor in the Zcash Open Development Lab and described Zcash as a “private complement to Bitcoin.” ZEC traded around $1,338. The token’s gains outpaced Bitcoin’s 18.2% monthly rise, reflecting strong demand for privacy coins. Huang backed Zcash’s inflation-funded developer fund, arguing long-term funding matters amid rising AI and quantum risks, and supported combining coin voting with other governance methods. The wider crypto market also advanced after the Fed raised rates 25 basis points to 3.75%–4%.
