Arthur Hayes: Privacy will become the dominant narrative in the crypto market by 2026

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ChainCatcher News, Arthur Hayes states that privacy will define the next wave of cryptocurrency transactions, with Zcash becoming the privacy beta. Its family office Maelstrom has established a large Zcash position at a low price in Q3 2025, and currently Zcash is the second largest liquid asset holding in its portfolio after Bitcoin.

Arthur Hayes believes that as US political motives lean towards aggressive credit expansion, the expanded dollar liquidity will support Bitcoin and privacy assets. Additionally, Maelstrom is shifting its research and portfolio strategies towards the zero-knowledge proof ecosystem.

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