News

Jinse Finance reported that a16z has released its latest crypto report, pointing out that privacy protection is returning to the spotlight and may become a prerequisite for mass adoption. Signs of rising attention include: a surge in Google searches related to crypto privacy in 2025; Zcash's shielded pool supply growing to nearly 4 million ZEC; and Railgun's monthly transaction volume surpassing $200 million. At the same time, the Ethereum Foundation has established a new privacy team; Paxos has partnered with Aleo to launch a private and compliant stablecoin (USAD); and the Office of Foreign Assets Control has lifted sanctions on the decentralized privacy protocol Tornado Cash. We expect that as crypto technology continues to go mainstream, this trend will gain even greater momentum in the coming years.

Jinse Finance reported that the world's largest bitcoin corporate treasury company, Strategy, has slowed its bitcoin accumulation to the lowest level in five years. As of this quarter, Strategy only increased its holdings by 388 bitcoins, bringing its total holdings to 640,031 by the end of the third quarter—a growth of just 0.1%. In previous quarters, Strategy's treasury growth was typically in the high single-digit or even double-digit percentages. In fact, in the fourth quarter of 2024, its BTC holdings saw a multi-year high increase of 77%. Unfortunately, as BTC purchases decreased, a certain exchange also dropped by 10% this quarter. Back in 2020, Michael Saylor's 1990s enterprise software company pivoted to leveraged bitcoin purchases, starting from a smaller base and accumulating 70,470 bitcoins by the end of that year. Its BTC treasury continued to grow strongly in 2021, with double-digit and high single-digit percentage increases, slowed down in 2022, and then picked up again in 2023 and 2024.