Winklevoss Brothers Donate $1.2M ZEC to Shielded Labs to Support Zcash Network

Billionaire Brothers Tyler and Cameron Winklevoss, co-founders of Gemini exchange, have donated 3,221 Zcash tokens (ZEC) to Shielded Labs, supporting the network’s initiatives. The contribution is valued at approximately $1.2 million at current market prices.

Shielded Labs, led by Zcash founder Zooko, announced Tuesday that the donation will directly support Shielded Labs’ core initiatives. This includes strengthening long-term security, sustainability, and scalability of the Zcash network.

Privacy is Crucial for Crypto: Winklevoss Twins

Cameron Winklevoss emphasized that privacy is the next frontier in crypto. It’s the point at which government and corporate overreach end and your freedom and self-sovereignty begin, he wrote on X.

“Shielded Labs is committed to building Zcash — unstoppable private money. That’s why Tyler and I are supporting their mission.”

Further, Tyler noted that the donation at the protocol level would help foster a healthy Zcash ecosystem. “Shielded Labs plays an important role in that effort, and we’re glad to support their work.”

Winklevoss twins initially donated to Shielded Labs in 2023 to support the formation of the dedicated Crosslink team.

“Their contribution meaningfully accelerates our ability to execute on critical protocol-level work and to collaborate openly with other contributors to advance Zcash’s mission,” Swiss-based Shielded Labs noted.

Besides, Winklevoss-backed Cypherpunk bought 56,418 ZEC last month, holding nearly 2% of the token’s circulating supply.

Zcash Token ZEC Trades in Red, What Next?

Zcash, in its turn, has been registering among the most robust performances in the crypto market since September 2025. increased nearly 800% in the last 12 months.

However, the token is showing bearish outlook since the start of this year. ZEC has been trading within a narrowing triangle pattern on the daily chart. The price has formed a series of lower highs and higher lows, showing a loss of momentum in both directions.

At the time of reporting, ZEC trades near $357.79, down 1.5% in 24 hours, extending a 14% weekly decline. Analysts warn that a close below $360 could target $300 next – a 16% downside risk from current prices.

That said, Zcash Foundation recently cleared a years-long investigation by the US Securities and Exchange Commission without any enforcement action. The move brought regulatory clarity to the industry’s most closely watched privacy projects.

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