Arthur Hayes Urges Zcash Holders to 'Withdraw and Shield,' Names ZEC His No.2 Holding
Arthur Hayes on Nov. 12 urged Zcash holders to “withdraw and shield” their coins by moving balances off exchanges into shielded addresses, framing it as a collective move toward stronger privacy. The former BitMEX CEO also disclosed that ZEC has become his second-largest position after Bitcoin, signaling a high-profile vote of confidence in the privacy-focused asset. Hayes’ public call matters because coordinated withdrawals could tighten exchange liquidity for ZEC, raise on-chain use of shielded transactions, and prompt fresh price volatility as available sell-side supply falls. The push also risks attracting regulatory scrutiny and could complicate trading for institutional participants. Market participants should watch exchange balances, on-chain shielded activity, and volatility in ZEC price in the coming days as Hayes’ influence may drive short-term flows and debate over privacy versus compliance.