Billionaire brothers and Gemini exchange co-founders, Tyler and Cameron Winklevoss, have donated 3,221 Zcash (ZEC) tokens, valued at approximately $1.2 million, to Shielded Labs to support the development and sustainability of the Zcash network.
The donation, announced on January 20, 2026, will directly fund Shielded Labs' core initiatives aimed at strengthening the Zcash protocol. These include the Network Sustainability Mechanism, Crosslink, and Dynamic Fees upgrades, which focus on long-term security, scalability, and operational health of the privacy-focused blockchain.
Cameron Winklevoss emphasized the critical importance of privacy in cryptocurrency, stating on X: "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 added that "Shielded Labs is committed to building Zcash — unstoppable private money. That's why Tyler and I are supporting their mission."
Tyler Winklevoss noted the donation's role in fostering a healthy Zcash ecosystem, stating, "Shielded Labs plays an important role in that effort, and we're glad to support their work." This marks the second major contribution from the Winklevoss twins to Shielded Labs, following a 2023 donation that helped form the dedicated Crosslink development team.
Switzerland-based Shielded Labs, led by Zcash founder Zooko Wilcox-O'Hearn, operates independently from the Zcash block reward Dev Fund and relies entirely on donations. The organization stated that the Winklevoss contribution "meaningfully accelerates our ability to execute on critical protocol-level work" and collaborate with other contributors.
The news comes amid a mixed performance for ZEC. While the token has seen a nearly 800% increase over the past 12 months, it has recently faced bearish pressure, trading near $357.79 at the time of reporting—down 1.5% in 24 hours and 14% over the week. Analysts warn a close below $360 could target $300.
In a related development, the Winklevoss-backed investment firm Cypherpunk Holdings purchased 56,418 ZEC last month, now holding nearly 2% of the token's circulating supply. Furthermore, the Zcash Foundation recently concluded a years-long SEC investigation without enforcement action, providing regulatory clarity for the privacy project.
