The popular altcoin Zcash received unexpected support from Gemini founder and CEO Tyler Winklevoss.
The beginning of the year 2021 was marked by the delisting of several coins from the Bittrex cryptocurrency exchange. On January 15, all trading pairs of Dash, Monero and Zcash will disappear from the trading platform. The exchange does not explain the reasons for delisting, users are sure that privacy coins can attract the attention of regulatory authorities, so trading platforms prefer to get rid of them.
At the same time, the founder and CEO of the Gemini cryptocurrency exchange supported zcash, calling it “the most undervalued altcoin”.
“Zcash is currently the most undervalued cryptocurrency. It ensures the confidentiality of money, and this is the basis of a free and open society. Proud that Gemini is supporting this noble project with the approval of NYDFS, ” Tyler Winklevoss wrote.
Twitter users supported Winklevoss ‘statement and agreed that it’s not always good when others know how much money a company or person has. Privacy coins just allow you to hide such information.
Zcash $ZEC is easily the most underrated crypto right now. It brings privacy to money, which is a fundamental building block of a free and open society. Proud that @Gemini supports this noble project with @NYDFS approval.
— Tyler Winklevoss (@tyler) January 1, 2021
Previously, Gemini allowed Zcash to be withdrawn to anonymous wallets. Winklevoss said the move is a significant development, as it sets a precedent among regulated exchanges for the first time. It also demonstrates that with the proper level of control and competence, regulators can not worry about anonymous cryptocurrencies.
Some users considered the decision of Bittrex quite logical, since the governments of many countries, in particular the United States, are trying to prohibit the use of privacy coins. In 2020, confidential coins were excluded from the list by the Japanese exchange Liquid, the American Coinbase and a number of others crypto exchanges.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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