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Arthur Hayes dumps his entire Zcash bag, declares the ‘Holy Trinity is dead’
Arthur Hayes, the Maelstrom founder and former BitMEX CEO, said on X that he sold his entire Zcash position after reading about an exploit affecting Zcash’s Orchard shielded pool.
Hayes had been one of the more visible institutional bulls on the privacy token through its 2026 rally and recent inclusion in his “Holy Trinity” framework alongside bitcoin and ether.
Hayes wrote that while he believes the risk of any improper minting is extremely low, the issue cannot be cryptographically proven impossible, and that the privacy thesis he was holding ZEC against “demands perfection not improbability.”
The 30% drop in the token over the past 24 hours, he said, forced him to reassess and exit the entire position rather than ride it out.
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