"Crypto Without Privacy Isn't Crypto" - The Zcash Bull Case | Tushar Jain & Mert Mumtaz

Zcash is having its first real narrative moment in years. David sits down with Multicoin Capital co-founder Tushar Jain and Mert Mumtaz to unpack why privacy may be crypto’s missing store-of-value primitive, why Zcash is being framed as “private Bitcoin,” how institutional adoption could normalize shielded money, what AI and onchain surveillance change about the privacy debate, and why quantum risk could become a real catalyst.

---
📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24
https://bankless.cc/spotify-premium

---
BANKLESS SPONSOR TOOLS:

🔮POLYMARKET | #1 PREDICTION MARKET
https://bankless.cc/polymarket-podcast

🟦 COINBASE ONE | MEMBER MONTH
https://bankless.cc/coinbase-one

🧭OKX | TRADE, EARN, PAY to OKX | 120M+ USERS WORLDWIDE
https://app.okx.com/join/USBANKLESS

🦊 METAMASK | DOWNLOAD NOW
https://go.metamask.io/BL-Pod-Download

🌐BRIX | EMERGING MARKET YIELD
https://bankless.cc/brix

💰NEXO | Get your 30-day access to Wealth Club Premier
https://bankless.cc/nexo

---
TIMESTAMPS

0:00 Why Multicoin Got Interested in Zcash
5:22 Mert’s Path from Solana to Zcash
9:57 Why Zcash, Why Now?
17:01 The Institutional Path for Private Money
22:03 Zcash as a Private Store of Value
25:27 Fungibility, Tainted Coins, and Financial History
27:26 The Bear Case: Does Anyone Really Care About Privacy?
34:43 Onchain Surveillance and Government Power
39:13 Zcash Tokenomics and the Forgotten Coin Thesis
44:58 The Last PVE in Crypto
50:17 Zcash and the Quantum Threat
59:14 Shielded Pool Growth and Upcoming Catalysts

---
RESOURCES

Tushar Jain
https://x.com/tushar_jain

Mert Mumtaz
https://x.com/mert

---
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures