According to Coin界 News, Arthur Hayes stated that privacy will define the next wave of cryptocurrency trading, with Zcash serving as the privacy beta for it. His family office Maelstrom established a large Zcash position at a low price in Q3 2025, and Zcash has now become the second-largest liquid asset holding in its portfolio after Bitcoin. Arthur Hayes believes that as American political motivations lean toward aggressive credit expansion, expanded dollar liquidity will support Bitcoin and privacy assets. Additionally, Maelstrom is shifting its research and portfolio strategy toward the zero-knowledge proof ecosystem.
According to Coin界 News, Arthur Hayes stated that privacy will define the next wave of cryptocurrency trading, with Zcash serving as the privacy beta for it. His family office Maelstrom established a large Zcash position at a low price in Q3 2025, and Zcash has now become the second-largest liquid asset holding in its portfolio after Bitcoin. Arthur Hayes believes that as American political motivations lean toward aggressive credit expansion, expanded dollar liquidity will support Bitcoin and privacy assets. Additionally, Maelstrom is shifting its research and portfolio strategy toward the zero-knowledge proof ecosystem.