Deep Tide TechFlow message: On July 23, Tushar Jain, managing partner at Multicoin Capital, said that his team unblocked a large amount of HYPE collateral yesterday, but this was not done to sell. He noted that because on-chain fund flows are continuously tracked, the team needs to regularly change wallet addresses, which also highlights the importance of privacy in institutional capital operations.

He further said that for institutions to carry out capital operations on-chain, privacy capabilities are key—so he continues to be bullish on Zama and Zcash. Among them, he views Zama as the infrastructure that can drive private, privacy-preserving decentralized finance development, while Zcash is defined by him as a leading privacy value storage public chain.