{"id":90937,"date":"2025-11-12T16:21:30","date_gmt":"2025-11-12T13:21:30","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=90937"},"modified":"2025-11-12T16:25:45","modified_gmt":"2025-11-12T13:25:45","slug":"arthur-hayes-urges-zcash-holders-to-pull-assets-off-centralized-exchanges","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/arthur-hayes-urges-zcash-holders-to-pull-assets-off-centralized-exchanges\/","title":{"rendered":"Arthur Hayes urges Zcash holders to pull assets off centralized exchanges"},"content":{"rendered":"<p>Holders of <a href=\"https:\/\/forklog.com\/en\/news\/what-is-zcash-zec\">Zcash<\/a> should avoid keeping ZEC on centralized exchanges (CEX), BitMEX co-founder Arthur Hayes said.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">If you hold <a href=\"https:\/\/twitter.com\/search?q=%24ZEC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ZEC<\/a> on a CEX, withdraw it to a self-custodial wallet and shield it.<\/p>\n<p>\u2014 Arthur Hayes (@CryptoHayes) <a href=\"https:\/\/twitter.com\/CryptoHayes\/status\/1988479315680297415?ref_src=twsrc%5Etfw\">November 12, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cIf you hold ZEC on a CEX, withdraw it to a <\/em><a href=\"https:\/\/forklog.com\/en\/news\/what-are-custodial-and-non-custodial-crypto-wallets\"><em>non-custodial wallet<\/em><\/a><em> using shielded transactions,\u201d he wrote.\u00a0<\/em><\/p>\n<\/blockquote>\n<p>Zcash uses a privacy model with two types of addresses:<\/p>\n<ul class=\"wp-block-list\">\n<li>transparent addresses (\u201ct\u201d addresses) \u2014 they function like conventional public wallets;<\/li>\n<li>shielded addresses (\u201cz\u201d addresses) \u2014 they use <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-zero-knowledge-proof\">zk-SNARK<\/a> to hide the sender, recipient and transaction amount.<\/li>\n<\/ul>\n<p>Centralized exchanges typically support only the transparent version of ZEC, making all CEX transactions fully traceable. To use shielded transfers, which make Zcash a privacy coin, users need non-custodial wallets that support zk-SNARK operations.<\/p>\n<p>At the time of writing, 4.8 million ZEC \u2014 23% of the token\u2019s total supply \u2014 sit in the shielded pools Sprout, Sapling and Orchard.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"470\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-4f8e7d081b73c490-9345101247422361-1024x470.png\" alt=\"image\" class=\"wp-image-269530\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-4f8e7d081b73c490-9345101247422361-1024x470.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-4f8e7d081b73c490-9345101247422361-300x138.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-4f8e7d081b73c490-9345101247422361-768x353.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-4f8e7d081b73c490-9345101247422361-1536x705.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-4f8e7d081b73c490-9345101247422361.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/zechub.wiki\/dashboard\">ZecHub<\/a>.\u00a0<\/figcaption><\/figure>\n<p>Most assets are in the Orchard pool \u2014 the most modern of the three, introduced with the NU5 upgrade in 2022. It is based on the Halo 2 cryptographic construction.<\/p>\n<h2 class=\"wp-block-heading\">Zcash rally<\/h2>\n<p>A sharp increase in shielded transactions coincided with a rise in the price of the <a href=\"https:\/\/forklog.com\/en\/news\/what-are-privacy-coins\">anonymous cryptocurrency<\/a>. On November 6 the coin <a href=\"https:\/\/forklog.com\/en\/news\/zcash-surpasses-500-mark\">surpassed<\/a> $500 for the first time since 2018, then quickly reached $750.<\/p>\n<p>Amid the rally, Zcash <a href=\"https:\/\/forklog.com\/en\/news\/zcash-overtakes-monero-by-market-capitalisation\">overtook<\/a> the sector\u2019s long-standing leader by market cap, Monero (<a href=\"https:\/\/forklog.com\/en\/news\/what-is-monero-xmr\">XMR<\/a>).<\/p>\n<p>At press time ZEC trades at $473, giving it a market value of $7.8 billion.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"601\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-9b8991aa75cf86f6-9345120791155547-1024x601.png\" alt=\"image\" class=\"wp-image-269532\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-9b8991aa75cf86f6-9345120791155547-1024x601.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-9b8991aa75cf86f6-9345120791155547-300x176.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-9b8991aa75cf86f6-9345120791155547-768x450.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-9b8991aa75cf86f6-9345120791155547-1536x901.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-9b8991aa75cf86f6-9345120791155547.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Hourly chart of ZEC\/USDT on Binance. Source: <a href=\"https:\/\/ru.tradingview.com\/chart\/atJ4mYHE\/?symbol=BINANCE%3ABTCUSDT\">TradingView<\/a>.\u00a0<\/figcaption><\/figure>\n<p>Earlier, an analyst under the moniker Altcoin Sherpa <a href=\"https:\/\/forklog.com\/en\/news\/analysts-warn-zcash-could-plunge-after-a-1500-surge\">predicted<\/a> a \u201cpainful crash\u201d for the asset after a 1,500% rise in two months. Some market participants pointed to overbought conditions, suggesting a pullback to the $300\u2013$400 range.<\/p>\n<p>Even so, many remain optimistic about Zcash\u2019s prospects. Among them is Hayes, who <a href=\"https:\/\/forklog.com\/en\/news\/zcash-celebrates-anniversary-with-470-surge\">predicted<\/a> a rally to $10,000.<\/p>\n<p>However, ZEC\u2019s correction from local highs appears to have shaken the BitMEX co-founder\u2019s confidence.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">To sell, or not to sell, that is the question. <a href=\"https:\/\/twitter.com\/search?q=%24ZEC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ZEC<\/a> to $10k or $10 ?????????? \ud83e\uddd0\ud83e\uddd0\ud83e\uddd0\ud83e\uddd0\ud83e\uddd0\ud83e\uddd0\ud83e\uddd0 <a href=\"https:\/\/t.co\/hOgcx5iILc\">pic.twitter.com\/hOgcx5iILc<\/a><\/p>\n<p>\u2014 Arthur Hayes (@CryptoHayes) <a href=\"https:\/\/twitter.com\/CryptoHayes\/status\/1988182150538248229?ref_src=twsrc%5Etfw\">November 11, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cTo sell, or not to sell \u2014 that is the question. ZEC at $10,000 or $10?\u201d he asked in a recent post.\u00a0<\/em><\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">ZEC treasury<\/h2>\n<p>On November 12, Nasdaq-listed Leap Therapeutics <a href=\"https:\/\/www.prnewswire.com\/in\/news-releases\/leap-therapeutics-rebrands-as-cypherpunk-expands-leadership-team-to-drive-new-zcash-treasury-strategy-302612543.html\">announced<\/a> a rebrand to Cypherpunk Technologies Inc. The firm is shifting to a strategy of accumulating cryptocurrency \u2014 notably Zcash.<\/p>\n<p>Cypherpunk raised $58.8 million via a private placement. The funding round was led by Winklevoss Capital, the venture firm founded by Gemini exchange creators Cameron and Tyler Winklevoss.<\/p>\n<p>The company bought 203,775.27 ZEC at an average price of $245 per coin, spending $50 million. On November 13 Cypherpunk will begin trading under the ticker CYPH.<\/p>\n<p>Following the news, shares of the still-Leap Therapeutics fell by almost 5%.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"486\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-272f2874ec379fc3-9345150265684075-1024x486.png\" alt=\"image\" class=\"wp-image-269534\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-272f2874ec379fc3-9345150265684075-1024x486.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-272f2874ec379fc3-9345150265684075-300x142.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-272f2874ec379fc3-9345150265684075-768x364.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-272f2874ec379fc3-9345150265684075-1536x728.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-272f2874ec379fc3-9345150265684075.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/finance.yahoo.com\/quote\/LPTX\/?guccounter=1&#038;guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&#038;guce_referrer_sig=AQAAAFplz2l3mbd_CNNEPQgz-zW8XMLjrBjaUVVQ_l07GztU748_Mp1Cng6oChkVXEUTMdO1Zi_c4arCAAU-DngXrziO4s3mQ37zv3LHzTFXbDZ7_hD1I2d489OzbXl-S0vKo7cVotMl-WJ8qQ2p17uy2J3tYGZaZpp4PaLucKRTx1Wp\">Yahoo Finance<\/a>.\u00a0<\/figcaption><\/figure>\n<p>Earlier, Galaxy Digital analyst Will Owens <a href=\"https:\/\/forklog.com\/en\/news\/galaxy-identifies-zcash-as-a-bitcoin-alternative\">called<\/a> Zcash \u201cthe spiritual successor\u201d to Bitcoin.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Zcash holders should avoid storing ZEC on centralized exchanges, BitMEX co-founder Arthur Hayes said.<\/p>\n","protected":false},"author":1,"featured_media":90938,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Arthur Hayes urges ZEC holders to withdraw from centralized exchanges.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1193,1166,202],"class_list":["post-90937","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-arthur-hayes","tag-centralized-exchanges-cex","tag-zcash"],"aioseo_notices":[],"amp_enabled":true,"views":"297","promo_type":"1","layout_type":"1","short_excerpt":"Arthur Hayes urges ZEC holders to withdraw from centralized exchanges.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90937","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=90937"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90937\/revisions"}],"predecessor-version":[{"id":90939,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90937\/revisions\/90939"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/90938"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=90937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=90937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=90937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}