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