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Looking at the shady background of the VCs behind Zcash (ZEC)

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by COINS NEWS 39 Views

I took some time to do some AI research on the top VCs involved with Zcash after almost all the posts that call Zcash (ZEC) a VC honeypot scam where they are planning to dump their bags on us and found some very disturbing things

Barry Silbert -

  • Launched DCG: Founded Digital Currency Group in 2015 to build, buy, and invest in Bitcoin and blockchain companies.
  • Launched Grayscale: Created Grayscale Investments under DCG, establishing the Bitcoin Investment Trust to give institutional and traditional investors regulated exposure to Bitcoin
  • Early-Stage Investing: Through DCG, Silbert provided crucial seed funding to foundational crypto giants including Coinbase, Ripple, Circle, Chainalysis, and Kraken.
  • Foundry Digital: Silbert expanded heavily into infrastructure by launching Foundry, which quickly grew into one of the largest Bitcoin mining pools in the world, helping shift the global hash rate concentration to North America.
  • Media Dominance: DCG acquired and expanded CoinDesk, the preeminent crypto news and events platform, which it operated for years before selling it in late 2023

Winklevoss Twins -

  • The 1% Bet: In 2013, they used a portion of their Facebook settlement money to buy $11 million worth of Bitcoin at roughly $120 per coin. This massive bet gave them ownership of an estimated 1% of all circulating Bitcoin at the time
  • The Trust Company Structure: They worked directly with regulators to secure a prestigious New York Trust Charter in 2015. This allowed traditional hedge funds and institutional investors a compliant venue to trade crypto under strict New York banking laws.
  • The First ETF Application: In 2013, the twins filed the first-ever application for a spot Bitcoin ETF with the SEC. Though rejected multiple times over the decade, their initial paperwork pioneered the framework that eventually led to Wall Street's widespread ETF approvals

We have to prepare ourselves for these two dangerous scammers in the crypto space, we must not let them dump Zcash on us and let them make a quick buck. Everyone in the Dark Web, the most trusted folks of all the internet, uses Monero - that is the most honest private coin out there where the hackers and scammers will never pump and dump it for money laundering purposes compared to these scumbags Barry and the Twins.

submitted by /u/Impressive-Fig-9532
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