Zcash surges 23% as Paradigm co-founder calls it a private complement to Bitcoin

Zcash (ZEC) rose 23% to approximately $1,369 following the Federal Reserve's interest rate hike. Paradigm co-founder Matt Huang publicly endorsed the asset, positioning it as a privacy-focused complement to Bitcoin rather than a competitor. The surge coincides with the community's Nu7 upgrade vote, which aims to triple block speeds while maintaining a halving mechanism. Market sentiment remains optimistic as investors interpret the Fed's policy as a sign that the worst of the tightening cycle has passed.