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Project Overview
Zcash is a privacy-preserving cryptocurrency that provides anonymous value transfer using zero-knowledge cryptography. The protocol offers the option to make transactions either shielded, which will be completely anonymous, or transparent, which will be visible on the Zcash blockchain.
Ansem: Cultural and faith-based assets will command massive premiums in the AI era; bullish on Zcash's quantum risk narrative.
Ansem (@blknoiz06) tweeted that as AI continues to expand, the value of culture and collective belief will become increasingly prominent. He believes that if quantum risk poses a substantial threat to Bitcoin, Zcash could see a higher valuation driven by its privacy and store-of-value narrative; he also agrees with Murad’s broader take on memecoins—in a world where AI commoditizes intelligence, cultural assets that people truly believe in may command a massive premium, despite the extremely low likelihood of pure memecoins flipping Bitcoin.
Ignas：代币经济学创新并未“死去”，加密行业正重新尝试新机制
DeFi 研究员 Ignas 发文表示，自己原本担心代币经济学创新已经停滞，但事实并非如此。在经历一个周期的低流通量、高 FDV 代币发行后，加密行业正重新尝试新的代币机制，例如： 1、ZCAT 通过 3%转账税为持有者提供 ZEC 奖励； 2、BUN/Mosh 通过“Bundle Launch”让资金支持者分享交易手续费但无法提取 LP； 3、STONK 将手续费收入用于按市值加权回购并销毁排名前 15 的合规代币； 4、VVV/DIEM 允许质押 VVV 铸造 DIEM，再通过质押 DIEM 获得每日 AI 额度；5、ORBIO 则将交易手续费转化为质押者的 AI 额度； 6、BP 则要求质押至少 1 年以获得未来 IPO 股权转换资格，并根据项目增长里程碑决定代币供应解锁。 Ignas 认为，这些项目的共同点是尝试让代币不再只是融资工具，而是具备实际价值，不过也提醒社区许多机制仍依赖投机者持续交易，“投机”依然主导着加密市场。
Coldcard 2021 Firmware Vulnerability Led to Over $100 Million in Bitcoin Theft
Odaily News: A 2021 firmware vulnerability in the hardware wallet Coldcard resulted in insufficient randomness in some recovered seeds. Since July 30, attackers have transferred approximately 1,600 to 1,800 BTC from affected wallets, involving thousands of addresses, with an estimated value exceeding $100 million.Coldcard manufacturer Coinkite stated that it must be assumed that someone used AI to review its public firmware. The vulnerability has existed for about five years, and whether AI was involved in the related attacks has not yet been confirmed.Shielded Labs researcher Taylor Hornby used a Claude Opus 4.8 audit agent and discovered a vulnerability in the Zcash Orchard shielded pool circuit dating back to 2022, which in testing could generate unlimited counterfeit ZEC without a trace. Developers completed the fix within days, and no theft of coins has been confirmed.Statistics from blockchain analytics firm Chainalysis show that on-chain writes carrying malware instructions and command-and-control information rose from about 2.06 per day to 11.1 per day, an increase of 440%. (Bitcoin.com News)
ZachXBT Slams zkSNARKs: Calls It an Ordinals Scam, Raised $17 Million With Zero Practical Utility
On-chain analyst ZachXBT (@zachxbt) disclosed that the recently launched 10K PFP NFT project zkSNARKs on the Zcash chain is allegedly a rug pull. The project attracted a total of 16,971 bids via a blind auction, ultimately completing the allocation of 8,000 items at a clearing price of 1.5 ZEC (approximately $2,190). Total trading volume reached 25,305 ZEC (approximately $36.94 million), and refunds totaling 13,309 ZEC (approximately $19.43 million) have been progressively returned. ZachXBT noted that the project raised approximately $17 million, while incorporating a 10% team allocation, 5% royalties, and a minting fee of around $2,000, yet offered zero utility. This mirrors the typical "rug pull" strategy commonly seen in Ordinals-style projects.
Fortitude Appoints Former Hut 8 CEO Leverton to Lead NASDAQ Listing Plan
According to CoinDesk, Zcash mining company Fortitude Mining Holdings announced the appointment of former Hut 8 CEO Jaime Leverton as chief executive officer, who will officially take office on September 21. Outgoing CEO Andrea Childs will step into the role of chief operating officer. Leverton previously led Hut 8’s merger with US Bitcoin Corp and drove its transition to a U.S.-domestic operation. Fortitude plans to go public by merging with NASDAQ-listed HeartSciences (HSCS). Upon completion, the combined company’s ticker will change to “TUDE,” with the transaction expected to close in the fourth quarter and valuing the post-merger entity at at least $400 million. Spun off from Foundry in January 2025 by Barry Silbert’s Digital Currency Group, Fortitude currently operates over 60 megawatts of power capacity across South Dakota, Nebraska, Texas, and New York. It mined 72,696 ZEC in the first half of the year, accounting for approximately 28% of the network’s total output during that period, while Q2 revenue reached $20.9 million.
Zcash mining firm Fortitude plans to list on Nasdaq at a valuation of at least $400 million, appoints former Hut 8 CEO as CEO
Odaily News: Fortitude, a mining firm focused on Zcash mining, has appointed former Hut 8 CEO Jaime Leverton as CEO and plans to list on Nasdaq through a merger with HeartSciences. Andrea Childs will serve as COO.In the first half of 2026, Fortitude produced approximately 28% of the total ZEC output during the same period, with second-quarter revenue of $20.9 million. The implied valuation of the proposed combined company may be at least $400 million. (CoinDesk)
Euronext Suspends Trading on CoinShares Zcash ETP, Citing Settlement System Limitations
According to Cryptopolitan, Euronext halted trading of CoinShares' newly launched Zcash ETP (code ZCSH) on the Paris market on October 28, just hours after its listing. An Euronext spokesperson stated that the suspension was due to the central securities depository (CSD) temporarily being unable to support standard settlement operations, rather than any regulatory issue, and the product will resume once settlement conditions are met.
ViaBTC to Attend Crypto Summit 2026 as Strategic Partner
Odaily reports: ViaBTC has announced that it will attend the 9th Crypto Summit 2026 as a strategic partner. The event will be held from October 28 to 29 at MTS Live Hall in Moscow. The conference will bring together miners, investment institutions, exchanges, technology service providers, and policymakers to discuss topics including mining infrastructure, the digital asset market, and regulation. ViaBTC is currently one of the world's top four Bitcoin mining pools and also the Zcash (ZEC) mining pool with the largest hash rate.During the conference, ViaBTC Business Director Anton will participate in a roundtable discussion focused on changes in the mining landscape. Drawing on ViaBTC's experience accompanying miners through multiple market cycles, he will explore how mining companies can respond to market pressure, improve profitability, and identify new growth opportunities. Business Manager Alina will deliver a speech sharing practical advice on using mining pool services to help miners manage daily mining operations more efficiently.In addition, the ViaBTC team will meet face-to-face with miners and industry partners at Booth S-02 to share ten years of mining service experience and discuss collaboration opportunities. Through these exchanges, ViaBTC hopes to gain a deeper understanding of miners' practical needs and continue improving the stability of its mining services and the flexibility of yield management.
Bankless Founder: Lighter (LIT) Market Rally Is Back
Odaily reports: Bankless founder David Hoffman reposted Lighter's regulatory update on X and wrote: "Lighter season back on btw."During Lighter's Q3 investor call held last night via webcast, David Hoffman, speaking as an investor, asked: "Given that Lighter has already had extensive prior communication with the CFTC (U.S. Commodity Futures Trading Commission), do you expect the approval of the DCM (Designated Contract Market) and DCO (Derivatives Clearing Organization) licenses to come earlier than the CFTC's stipulated 180-day review period?"Lighter founder and CEO Vladimir Novakovski responded: "We believe that the extensive prior communication will make the whole process much smoother... The CFTC currently has a lot on its plate, so we can't give an exact timeline yet... However, the CFTC is a fast-moving team internally, so we expect the overall approval process to go relatively smoothly."Previously, David Hoffman reportedly sold all his ETH and rotated into tokens such as LIT, ZEC, and NEAR, with the rotated tokens subsequently significantly outperforming ETH.
Ledger attacker moved nearly 3,000 ETH via Tornado Cash and Zcash, related wallets still hold approximately $38.6 million in ETH and $16.9 million in BTC
Odaily News: According to Bitcoin News monitoring, the attacker behind the Ledger supply chain theft has moved nearly 3,000 ETH through Tornado Cash in three separate transactions, and transferred the funds into the Zcash privacy pool before converting them to USDC. Investigator @YFarmX stated that despite the use of privacy tools, they have traced 108 transactions completed through Zcash by exact value matching. An estimated $2.85 million in stolen USDC is still held in 3 wallets, and Circle may be able to freeze the related funds. Meanwhile, Tether is reported to have frozen $10 million in stolen USDT; wallets associated with the attacker still hold approximately $38.6 million in ETH and $16.9 million in BTC.
Winklevoss Files Spot Zcash ETF Application with U.S. SEC, Plans Nasdaq Listing
According to Crypto Unfolded, Winklevoss Asset Services has filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) to launch a spot ETF directly holding Zcash (ZEC), with plans to list it on the Nasdaq exchange. Previously, Grayscale launched the Zcash investment product ZCSH in August 2025, which currently manages over $900 million in assets and carries a management fee of 2.5%. The report notes that after a significant rally earlier this year, ZEC is currently trading at approximately $1,350. The new spot ETF filing may further expand avenues for institutional investors to gain exposure to privacy coins, but given the regulatory scrutiny these assets face, it remains uncertain whether the product will receive approval.
Zcash 组织 PGPZ 获聘说客游说华盛顿政策
Zcash 倡导组织 PGPZ 正式聘请 Divij Pandya 担任首位说客，旨在向华盛顿推进《数字资产市场清晰度法案》及加密税改提案。
Ignas: Assets like HYPE and ZEC Show Independent Price Action, Crypto Market Still Has Structural Opportunities
DeFi researcher Ignas posted on X stating that during the current market downturn, the "buy the dip" sentiment commonly seen in the past has rarely appeared on social media. Although some market participants believe that Bitcoin holding the $77,000 to $80,000 range is a bullish signal, most crypto traders may already hold substantial token positions, and some investors would rather wait for price confirmation of an uptrend before buying than bottom-fish amid panic. Assets decoupled from Bitcoin's price action such as HYPE, as well as "conviction tokens" like ZEC and revenue-generating assets like HYPE, remain attractive. However, there is currently insufficient potential buying interest—retail investors who previously favored crypto assets are now being buffeted by volatility in assets such as AI stocks, gold, and quantum computing, and crypto ETF fund flows have also turned to net outflows over the past 30 days.
Market Awaits Fed Decision as BTC Short-Term Options Bearish Sentiment Cools Notably
Odaily reports: Bitcoin rose about 0.8% since midnight (UTC) on Monday to $81,400, after briefly falling below $80,000. Ethereum gained 0.9%, Asian chip stocks led a tech rebound, South Korea's KOSPI rose 6.6%, SK Hynix climbed about 11% on roughly 7x year-over-year profit growth, and Nasdaq 100 futures rose 0.5%.The Federal Reserve is about to announce its rate decision, and the CME FedWatch tool shows the market sees about a 92% probability of rates being held steady. Traders will focus on Fed Chair Kevin Warsh's press conference to gauge whether there is any possibility of a rate hike ahead. U.S. spot Bitcoin ETFs saw net inflows of $176 million on Tuesday, marking a second consecutive trading day of inflows.On the derivatives side, crypto futures trading volume rose 7.5% over the past 24 hours to $163.2 billion, open interest increased only 1.3%, and liquidations rose 38% to $183.6 million. Bitcoin rose 2.3% while open interest actually fell 0.1%; Ethereum rose 2.7% with open interest up 1.7%, indicating the price rebound has not yet been accompanied by large-scale new leverage. ZEC open interest grew 14%, higher than its 6.3% price gain over the same period, making it one of the large crypto assets with the most obvious new position building.In the options market, Deribit data shows that Bitcoin's one-week put/call skew has dropped from nearly 10% a week ago to less than 1%, indicating that demand for short-term downside protection has weakened somewhat, though the one-month, three-month and six-month tenors remain clearly skewed toward puts. Meanwhile, gold futures open interest fell 10%, while open interest for Tether's gold token XAUT rose 11.6%, showing divergent capital flows. (CoinDesk)
Zcash Co-Founder Proposes Halting Automatic Community Grants Funding, Says Program Holds Over $125M
Odaily Report: Zcash co-founder Sean Bowe has submitted a proposal to stop the automatic allocation of block rewards to the Zcash Community Grants (ZCG) program and redirect the remaining 8% of block rewards originally allocated to the program to the Network Sustainability Mechanism (NSM). He stated that ZCG currently holds over $125 million in funds and will receive several million more before the funding inflow stops, and that the existing grants program was not designed to manage funds of this scale.According to the draft proposal, ZCG holds 91,452.98 ZEC and approximately $8.8 million in USD-denominated assets, with $2.4 million in outstanding grant commitments. Bowe noted that the current 8% allocation mechanism generates over $68 million worth of ZEC per year, while the Financial Privacy Foundation disclosed that ZCG's spending in the first quarter of 2026 was only $1.53 million. If the proposal is approved, the original allocation percentage will be redirected to the NSM, and the total Zcash issuance will not increase. Meanwhile, the separate 12% of block rewards allocated to the Coinholder-Controlled Fund will remain unchanged. ZCG will still be able to retain and manage its existing assets, continue approving grants, and fulfill outstanding commitments.The proposal has not yet specified an activation block height and has not been included in the currently planned NU7 network upgrade; it would require a future network upgrade to take effect. (The Block)
Binance will reduce the maximum leverage to 5x for multiple isolated margin trading pairs starting November 10.
Binance announced that starting November 10, 2026 at 16:00 (UTC+8), it will reduce the maximum leverage multiplier for 23 isolated leverage trading pairs from 10x to 5x, involving assets such as ATOM, AVAX, BCH, DOT, HYPE, LTC, SUI, TRX, and ZEC. Following the adjustment, the margin and liquidation risk parameters for the relevant trading pairs will be updated accordingly. Binance reminds users to monitor their positions, deposit additional assets into their isolated leverage accounts or repay debts in advance to mitigate the risk of forced liquidation.
Zcash co-founders propose transferring 8% of ZCG block subsidies to a network sustainability mechanism.
Zcash co-founder Sean Bowe has released a ZIP draft proposing to halt the automatic allocation of block subsidies to the Zcash Community Grants (ZCG) and redirect the original 8% subsidy portion to the Network Sustainability Mechanism (NSM). The draft notes that ZCG currently holds approximately 91,452.98 ZEC, valued at around $125 million, indicating that existing funds are sufficient to continue supporting related activities without requiring ongoing block subsidies. If the proposal takes effect, starting from a designated activation height, the original 8% allocation will be transferred to the NSM fund until the original funding stream expires; ZCG's existing assets and governance rules will remain unchanged.
Tuttle files for multiple niche leveraged ETFs, including 2x long Asia storage and Zcash ETF
Bloomberg ETF analyst Eric Balchunas posted on X platform that Tuttle has filed for a series of niche leveraged ETFs, including a 2x long Asia storage ETF and a 2x long Zcash ETF.
Nearly $1 million stolen, Bloom drainer uses 2,152 addresses to move funds
Odaily reports: According to on-chain detective Specter, the Bloom drainer stole nearly $1 million and moved the funds in a manner consistent with handling eight-figure amounts. The transaction patterns suggest the operation may have been automated, including repeated splitting, consolidation, and cross-chain transfers through thousands of addresses. The attacker used 2,152 unique routing and destination addresses, of which 1,326 were Solana addresses, 822 were EVM addresses, and 5 were Zcash addresses. The attacker also bridged to Zcash, with 26.099 ZEC entering the Sapling shielded pool.
The Zcash development team plans to assign a unique viewing key for each ZEC cross-chain swap to mitigate future quantum computing risks.
According to CoinDesk, the development team behind Zcash's new node software, Zakura, plans to generate a unique viewing key for each ZEC swap conducted via NEAR Intents, while the spending key remains secured by the user's primary account. Under the current architecture, when users swap private ZEC for USDC via NEAR Intents, one of their Zcash privacy addresses is publicly broadcast on the NEAR public chain as a refund address and remains retained after the swap is completed. While this address currently does not leak information, sufficiently powerful quantum computers in the future could potentially reverse-engineer the viewing key using Shor's algorithm, thereby linking all payments received by that account, including amounts and memos. By implementing a "one-key-per-swap" approach, even if a refund address is compromised, attackers will only be able to view payments related to that specific swap. To address the issue of having to scan the entire blockchain sequentially during wallet recovery due to an abundance of keys, Zakura employs Private Information Retrieval (PIR) technology, allowing the wallet to query the location of incoming refunds without the database learning which address was queried.
Stolen funds continue to flow into ZEC, involving the Cryptobills Ledger incident and the $12 million Triple-A hack
Odaily Report: According to on-chain detective Specter's monitoring, after ZachXBT disclosed that the Bitget attacker used Zcash (ZEC) to obscure stolen funds, other stolen funds have also begun flowing into ZEC, including funds from the Cryptobills Ledger incident and the $12 million Triple-A hack. Threat actors are using ZEC to move stolen funds.
Ledger attacker moved nearly 3,000 ETH via Tornado Cash and Zcash, related wallets still hold approximately $38.6 million in ETH and $16.9 million in BTC
Odaily News: According to Bitcoin News monitoring, the attacker behind the Ledger supply chain theft has moved nearly 3,000 ETH through Tornado Cash in three separate transactions, and transferred the funds into the Zcash privacy pool before converting them to USDC. Investigator @YFarmX stated that despite the use of privacy tools, they have traced 108 transactions completed through Zcash by exact value matching. An estimated $2.85 million in stolen USDC is still held in 3 wallets, and Circle may be able to freeze the related funds. Meanwhile, Tether is reported to have frozen $10 million in stolen USDT; wallets associated with the attacker still hold approximately $38.6 million in ETH and $16.9 million in BTC.
The Zcash development team plans to introduce post-quantum signatures in January to protect public payments.
According to CoinDesk, the privacy cryptocurrency Zcash (ZEC) development team plans to introduce a post-quantum signature opcode on the network in January to support hash-based signatures, thereby defending against potential quantum computing attacks. This proposal primarily targets the transparent (public) payment pool, where approximately 70% of ZEC is currently held. Although developers have set January as the target deadline, the specific timing for network activation has not yet been finalized.
Zcash Founder: Recently Distributed Over $8M in Retroactive Funding to Contributors
Zcash founder Zooko Wilcox stated that Zcash recently distributed over $8 million in retroactive funding to contributors, with several million dollars allocated to reward those who volunteered to protect users during this year's AI vulnerability crisis.
Euronext Suspends Trading on CoinShares Zcash ETP, Citing Settlement System Limitations
According to Cryptopolitan, Euronext halted trading of CoinShares' newly launched Zcash ETP (code ZCSH) on the Paris market on October 28, just hours after its listing. An Euronext spokesperson stated that the suspension was due to the central securities depository (CSD) temporarily being unable to support standard settlement operations, rather than any regulatory issue, and the product will resume once settlement conditions are met.
Bankless: Zcash Development Funding Surplus Sparks Controversy, Four Proposals Target Block Reward Distribution Mechanism
Bankless published an article discussing the controversy surrounding excess development funding for Zcash, noting that the size of the Zcash development grant pool has continued to expand, with its current estimated net value reaching approximately $125 million—far exceeding immediate expenditure needs. Zcash co-founder and current head of Tachyon, Sean Bowe, has introduced a proposal recommending the termination of the 8% block reward currently allocated to ZCG during a future network upgrade. On the development funding mechanism, the community has so far put forward four proposals, which respectively involve ending ZCG grants, eliminating the entire development fund allocation system, or gradually reducing the allocation rate to zero. Proponents argue that the current mechanism causes funds to continuously accumulate as ZEC prices rise, while ZCG remains outside direct control by token holders. Opponents, however, worry that scaling back development funding without viable alternatives could hinder the protocol’s ongoing development and maintenance. All proposals remain under discussion and have not yet been finalized.
Euronext Suspends Listing and Trading of CoinShares Zcash ETP
European stock exchange operator Euronext has suspended the listing and trading of the CoinShares Zcash ETP until further notice. The product was originally scheduled to begin trading on Wednesday on Euronext Paris, but the suspension is due to settlement operational requirements not yet being met.Euronext stated that trading will only resume once the Central Securities Depository (CSD) is able to fully support standard settlement operations. This suspension delays the listing of Europe's fourth Zcash-based ETP. (Cointelegraph)
Market Awaits Fed Decision as BTC Short-Term Options Bearish Sentiment Cools Notably
Odaily reports: Bitcoin rose about 0.8% since midnight (UTC) on Monday to $81,400, after briefly falling below $80,000. Ethereum gained 0.9%, Asian chip stocks led a tech rebound, South Korea's KOSPI rose 6.6%, SK Hynix climbed about 11% on roughly 7x year-over-year profit growth, and Nasdaq 100 futures rose 0.5%.The Federal Reserve is about to announce its rate decision, and the CME FedWatch tool shows the market sees about a 92% probability of rates being held steady. Traders will focus on Fed Chair Kevin Warsh's press conference to gauge whether there is any possibility of a rate hike ahead. U.S. spot Bitcoin ETFs saw net inflows of $176 million on Tuesday, marking a second consecutive trading day of inflows.On the derivatives side, crypto futures trading volume rose 7.5% over the past 24 hours to $163.2 billion, open interest increased only 1.3%, and liquidations rose 38% to $183.6 million. Bitcoin rose 2.3% while open interest actually fell 0.1%; Ethereum rose 2.7% with open interest up 1.7%, indicating the price rebound has not yet been accompanied by large-scale new leverage. ZEC open interest grew 14%, higher than its 6.3% price gain over the same period, making it one of the large crypto assets with the most obvious new position building.In the options market, Deribit data shows that Bitcoin's one-week put/call skew has dropped from nearly 10% a week ago to less than 1%, indicating that demand for short-term downside protection has weakened somewhat, though the one-month, three-month and six-month tenors remain clearly skewed toward puts. Meanwhile, gold futures open interest fell 10%, while open interest for Tether's gold token XAUT rose 11.6%, showing divergent capital flows. (CoinDesk)
Zcash Co-Founder Proposes Halting Automatic Community Grants Funding, Says Program Holds Over $125M
Odaily Report: Zcash co-founder Sean Bowe has submitted a proposal to stop the automatic allocation of block rewards to the Zcash Community Grants (ZCG) program and redirect the remaining 8% of block rewards originally allocated to the program to the Network Sustainability Mechanism (NSM). He stated that ZCG currently holds over $125 million in funds and will receive several million more before the funding inflow stops, and that the existing grants program was not designed to manage funds of this scale.According to the draft proposal, ZCG holds 91,452.98 ZEC and approximately $8.8 million in USD-denominated assets, with $2.4 million in outstanding grant commitments. Bowe noted that the current 8% allocation mechanism generates over $68 million worth of ZEC per year, while the Financial Privacy Foundation disclosed that ZCG's spending in the first quarter of 2026 was only $1.53 million. If the proposal is approved, the original allocation percentage will be redirected to the NSM, and the total Zcash issuance will not increase. Meanwhile, the separate 12% of block rewards allocated to the Coinholder-Controlled Fund will remain unchanged. ZCG will still be able to retain and manage its existing assets, continue approving grants, and fulfill outstanding commitments.The proposal has not yet specified an activation block height and has not been included in the currently planned NU7 network upgrade; it would require a future network upgrade to take effect. (The Block)
Zcash co-founders propose transferring 8% of ZCG block subsidies to a network sustainability mechanism.
Zcash co-founder Sean Bowe has released a ZIP draft proposing to halt the automatic allocation of block subsidies to the Zcash Community Grants (ZCG) and redirect the original 8% subsidy portion to the Network Sustainability Mechanism (NSM). The draft notes that ZCG currently holds approximately 91,452.98 ZEC, valued at around $125 million, indicating that existing funds are sufficient to continue supporting related activities without requiring ongoing block subsidies. If the proposal takes effect, starting from a designated activation height, the original 8% allocation will be transferred to the NSM fund until the original funding stream expires; ZCG's existing assets and governance rules will remain unchanged.
Related news
Ignas: Assets like HYPE and ZEC Show Independent Price Action, Crypto Market Still Has Structural Opportunities
DeFi researcher Ignas posted on X stating that during the current market downturn, the "buy the dip" sentiment commonly seen in the past has rarely appeared on social media. Although some market participants believe that Bitcoin holding the $77,000 to $80,000 range is a bullish signal, most crypto traders may already hold substantial token positions, and some investors would rather wait for price confirmation of an uptrend before buying than bottom-fish amid panic. Assets decoupled from Bitcoin's price action such as HYPE, as well as "conviction tokens" like ZEC and revenue-generating assets like HYPE, remain attractive. However, there is currently insufficient potential buying interest—retail investors who previously favored crypto assets are now being buffeted by volatility in assets such as AI stocks, gold, and quantum computing, and crypto ETF fund flows have also turned to net outflows over the past 30 days.
Gemini Co-Founder: Zcash Doesn't Need to Reinvent Governance Mechanisms; Privacy Is Its True Goal
Gemini co-founder Cameron Winklevoss stated that Zcash does not need to reinvent governance mechanisms, as capital markets have utilized stakeholder voting for centuries, with token holder voting simply serving as the on-chain implementation of this system. He emphasized that governance experiments are not Zcash's core mission; rather, privacy is its true objective, and he called for discontinuing the Zcash Community Grants (ZCG) to eliminate the resulting distractions and misaligned incentives.
Euronext Suspends Trading on CoinShares Zcash ETP, Citing Settlement System Limitations
According to Cryptopolitan, Euronext halted trading of CoinShares' newly launched Zcash ETP (code ZCSH) on the Paris market on October 28, just hours after its listing. An Euronext spokesperson stated that the suspension was due to the central securities depository (CSD) temporarily being unable to support standard settlement operations, rather than any regulatory issue, and the product will resume once settlement conditions are met.
Bankless: Zcash Development Funding Surplus Sparks Controversy, Four Proposals Target Block Reward Distribution Mechanism
Bankless published an article discussing the controversy surrounding excess development funding for Zcash, noting that the size of the Zcash development grant pool has continued to expand, with its current estimated net value reaching approximately $125 million—far exceeding immediate expenditure needs. Zcash co-founder and current head of Tachyon, Sean Bowe, has introduced a proposal recommending the termination of the 8% block reward currently allocated to ZCG during a future network upgrade. On the development funding mechanism, the community has so far put forward four proposals, which respectively involve ending ZCG grants, eliminating the entire development fund allocation system, or gradually reducing the allocation rate to zero. Proponents argue that the current mechanism causes funds to continuously accumulate as ZEC prices rise, while ZCG remains outside direct control by token holders. Opponents, however, worry that scaling back development funding without viable alternatives could hinder the protocol’s ongoing development and maintenance. All proposals remain under discussion and have not yet been finalized.
Euronext Suspends Listing and Trading of CoinShares Zcash ETP
European stock exchange operator Euronext has suspended the listing and trading of the CoinShares Zcash ETP until further notice. The product was originally scheduled to begin trading on Wednesday on Euronext Paris, but the suspension is due to settlement operational requirements not yet being met.Euronext stated that trading will only resume once the Central Securities Depository (CSD) is able to fully support standard settlement operations. This suspension delays the listing of Europe's fourth Zcash-based ETP. (Cointelegraph)
Market Awaits Fed Decision as BTC Short-Term Options Bearish Sentiment Cools Notably
Odaily reports: Bitcoin rose about 0.8% since midnight (UTC) on Monday to $81,400, after briefly falling below $80,000. Ethereum gained 0.9%, Asian chip stocks led a tech rebound, South Korea's KOSPI rose 6.6%, SK Hynix climbed about 11% on roughly 7x year-over-year profit growth, and Nasdaq 100 futures rose 0.5%.The Federal Reserve is about to announce its rate decision, and the CME FedWatch tool shows the market sees about a 92% probability of rates being held steady. Traders will focus on Fed Chair Kevin Warsh's press conference to gauge whether there is any possibility of a rate hike ahead. U.S. spot Bitcoin ETFs saw net inflows of $176 million on Tuesday, marking a second consecutive trading day of inflows.On the derivatives side, crypto futures trading volume rose 7.5% over the past 24 hours to $163.2 billion, open interest increased only 1.3%, and liquidations rose 38% to $183.6 million. Bitcoin rose 2.3% while open interest actually fell 0.1%; Ethereum rose 2.7% with open interest up 1.7%, indicating the price rebound has not yet been accompanied by large-scale new leverage. ZEC open interest grew 14%, higher than its 6.3% price gain over the same period, making it one of the large crypto assets with the most obvious new position building.In the options market, Deribit data shows that Bitcoin's one-week put/call skew has dropped from nearly 10% a week ago to less than 1%, indicating that demand for short-term downside protection has weakened somewhat, though the one-month, three-month and six-month tenors remain clearly skewed toward puts. Meanwhile, gold futures open interest fell 10%, while open interest for Tether's gold token XAUT rose 11.6%, showing divergent capital flows. (CoinDesk)