Winklevoss twins, the co-founders of Gemini Space Station, Inc. (NASDAQ:GEMI), donated over $1 million to support the privacy-focused Zcash (CRYPTO: ZEC) cryptocurrency on Tuesday.
‘Unstoppable Private Money’
Cameron and Tyler Winklevoss donated 3,221 ZEC tokens, worth $1.4 million, to Shielded Labs, an independent organization that supports the development of the Zcash network.
Cameron Winklevoss described Zcash as “unstoppable private money,” adding that he and his brother are committed to supporting its mission.
“Privacy is the next frontier in crypto. It’s the point at which government and corporate overreach end and your freedom and self-sovereignty begin,” he added.
Winklevoss Twins Double Down On Privacy Coins
Shielded Labs said that the donation will support its “core initiatives,” aimed at strengthening the long-term security, sustainability, and scalability of the Zcash network.
The Winklevoss twins have made a significant investment in Zcash, betting on its role as a leading privacy protocol.
They back a cryptocurrency treasury company, Cypherpunk Technologies Inc. (NASDAQ:CYPH), which has amassed a large ZEC position. It currently holds 290,062 ZEC, valued at over $103 million.
The Star Performer Of 2025
Zcash was one of the top performers last year, skyrocketing more than 600% in a rally supported by a broader interest in privacy-focused cryptocurrencies
Unlike Bitcoin, ZEC transactions by default do not reveal the sending and receiving addresses or the amount being sent. However, there is an option to disclose this data for auditing or regulatory compliance.
Price Action: At the time of writing, ZEC was exchanging hands at $357.10, down 1.25% over the last 24 hours, according to data from Benzinga Pro. Year to date, the coin has plunged 30%.
Shares of Cypherpunk fell 1.27% in after-hours trading after closing 13.21% lower at $0.9216 during Tuesday’s regular trading session.
The stock maintains a stronger price trend over the medium and long terms, but struggles in the short term, according to Benzinga’s Edge Stock Rankings.
Photo Courtesy: Stanslavs on Shutterstock.com
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