ZEC, the native token of the privacy-focused Zcash network, rose by more than 30% after Multicoin Capital co-founder and managing partner Tushar Jain said the crypto fund had built a “significant position” in ZEC since February.
“Zcash is a return to the cypherpunk ideals crypto was founded on,” Jain wrote on X. “California’s proposed wealth seizures are a warning. As the political trend to seize private wealth continues to grow, people and institutions will increasingly seek private assets to protect themselves.”
