Zcash spikes 30% after Multicoin managing partner says firm bought the token, calls it protection against wealth taxes

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.”

Jain added that Multicoin—which is known for its early investment in Solana—believes demand will grow for “truly private, censorship and seizure resistant assets,” and ZEC is the “cleanest way to express this thesis in public........

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