Tech funding firm Cypherpunk Holdings has accomplished an fairness funding price $337,500 in zkSNACKs, the agency behind privacy-focused cryptocurrency pockets Wasabi.
Cypherpunk introduced the information in a Nov. 21 press launch, specifying that it thus acquired a four.5% stake in zkSnacks. With the acquisition, Cypherpunk’s chief funding officer Moe Adham grew to become a member of zkSnacks’ board of administrators. Cypherpunk’s president and CEO, Dominic Frisby, stated:
“It is taken a whole lot of work and a number of other months to get this deal over the road, so I want to each thank and congratulate everybody concerned. Now we have been most impressed with the Wasabi product and with the expansion zkSnacks has displayed. We additionally imagine its position in restoring fungibility to bitcoin will likely be important.”
In a presentation to traders printed on Nov. 20, Cypherpunk identified numerous its different latest investments, which included a $100,000 contribution to privacy-centric Bitcoin (BTC) pockets Samourai Pockets, a $300,000 funding into decentralized open supply blockchain undertaking Chia, and Swedish Hydro66 datacenter, offering providers to cloud suppliers and cryptocurrency miners.
Issues surrounding the Wasabi Pockets
As blockchain analytics agency Chainalysis reported in late August, Wasabi Pockets had blended a complete of $250 million in Bitcoin in 2019, seeing a major rise in quantity since January. The agency indicated that almost all of funds despatched to cryptocurrency mixing providers or tumblers had been primarily used for privateness functions somewhat than for illicit actions.
In July, the official Samourai Pockets Telegram account raised issues over an alleged lack of privateness ensured by the CoinJoin implementation of competing pockets Wasabi. In line with Samourai Pockets, Wasabi pockets CoinJoin transactions are sometimes not as non-public as they’re presupposed to be. The corporate identified:
“With Wasabi in case you are mixing 10 BTC, I can trivially observe that 10 BTC as it’s peeled down into smaller UTXOS (unspent funds). […] Moreover Wasabi outputs are within the order through which they’re registered, permitting you to make educated guesses that cluster outputs which you can later cross reference when inputs are inevitably merged to make a spend.”
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