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BTC $70,740.69 -2.62%
ETH $2,076.78 -2.43%
BNB $645.12 -1.41%
XRP $1.42 -4.56%
SOL $81.67 -4.53%
TRX $0.2795 -0.47%
DOGE $0.0974 -3.83%
ADA $0.2735 -4.22%
BCH $457.98 -0.19%
LINK $8.64 -2.97%
HYPE $28.98 -1.81%
AAVE $122.61 -3.42%
SUI $0.9138 -6.63%
XLM $0.1605 -4.62%
ZEC $260.31 -8.86%

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Zcash Open Development Lab completes over $25 million seed round financing, with participation from Paradigm and others

According to official news, the Zcash Open Development Lab, founded by former Electric Coin Company CEO Josh Swihart, has completed over $25 million in funding. This round of financing was participated in by Paradigm, a16z crypto, Winklevoss Capital, Coinbase Ventures, Cypherpunk Technologies, Maelstrom, Chapter One, Balaji Srinivasan, David Friedberg, Haseeb Qureshi, James Nicholas, and others.ECC launched its flagship Zcash wallet Zodl in 2024, setting a new standard for Zcash usability. Earlier this year, the original ECC team, including the wallet product team, joined ZODL as a whole to continue building the main user interface for Zcash, aiming to create Zodl as an open self-custody privacy financial platform, expanding ecosystem interoperability through collaboration, and driving privacy ZEC transactions into the global mainstream.The development of the Zcash protocol remains a core focus for ZODL. Engineers who previously designed, built, and maintained key systems for Zcash at ECC have joined ZODL, continuing to advance the protocol evolution with the same commitment and integrity, ensuring that technological advancements support real needs and drive Zcash's product-market fit.At the heart of the Zcash Open Development Lab is the development of an open, self-custodied private financial platform, aimed at expanding ecosystem interoperability through collaboration and pushing protected ZEC transactions into the global mainstream market.

BitMine increased its holdings by 60,976 ETH last week, and Tom Lee reiterated that we are currently in the late stage of a "small bear" market

According to official news, Bitmine announced today that the total value of its cryptocurrency, cash, and "high-risk, high-return investment projects" amounts to $10.3 billion. As of March 8, 2026, at 4:00 PM Eastern Time, the company's held crypto assets include:4,534,563 ETH195 Bitcoin$200 million in Beast Industries equity$14 million in Eightco Holdings equityA total cash amount of $1.2 billion.Bitmine Executive Chairman Thomas "Tom" Lee stated, "This week, against the backdrop of war concerns and soaring oil prices, the price of Ethereum has shown resilience. We continue to believe that crypto prices are in the late/final stages of a 'mini crypto winter'." He cited analysis from Bitmine advisor Tom DeMark, noting that the price trend of ETH is highly correlated with the S&P 500 index in the fall of 2011 and the fall of 1987 (with correlations of 89% and 93%, respectively). If this analogy holds, the price of ETH is expected to bottom out slightly below the recent low of $1,740 between March 8 and 14.Lee revealed that in the past week, Bitmine has accelerated its accumulation of ETH, adding 60,976 ETH, which is above the previous weekly average of 45,000 to 50,000. "As the saying goes, no one rings the bell at the bottom, so Bitmine's strategy is to slightly speed up the accumulation pace." As of March 8, Bitmine has staked a total of 3,040,483 ETH, valued at $6 billion, accounting for 67% of its total holdings.
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