Cardano's Hoskinson Says Zcash Beats Bitcoin on Privacy; U.S. Spot XRP ETFs Post 16% May Inflow Jump; Strategy Adds 15,466 BTC
CoinDesk reports that Cardano founder Charles Hoskinson has argued Zcash (ZEC) is closer to the original cypherpunk idea of digital cash than today's Bitcoin, citing privacy as the defining difference. He said Bitcoin has become increasingly transparent and institutionalized, while Zcash uses zero-knowledge proofs (zkSNARKs) to shield counterparties and transaction amounts.
Hoskinson referenced Hal Finney's 1993 writing on electronic cash as a way for individuals to retain control of personal information outside state reach, and said Zcash aligns more closely with that concept than Bitcoin's open ledger. The comments drew pushback from Bitcoin supporters, who pointed to Zcash's mining rewards structure—criticizing that 25% of each block reward is directed to developer wallets, which detractors label a "hidden premine" compared with Bitcoin's issuance model. Critics also argued Finney never endorsed Zcash, noting he died before it was created and his family publicly supported Bitcoin.
The debate comes as Zcash sees renewed institutional interest. The Winklevoss brothers and Barry Silbert have reportedly returned as notable buyers, while Grayscale is exploring converting its Zcash trust into a spot ETF.
U.S. spot XRP ETFs also hit a 2026 milestone. Through the end of May trading (data noted as incomplete), net inflows reached $94.71 million, up 16% from April's $81.59 million, marking the strongest monthly intake of 2026. Bitwise, Canary and Franklin funds accounted for most of the May inflows, lifting combined assets under management for U.S. XRP ETFs to about $1.18 billion.
On-chain activity on the XRP Ledger (XRPL) accelerated as well. Santiment data showed daily active addresses rising to 48,453—the highest since late March—while 3,317 new wallets were added in 24 hours. Total activated accounts climbed to 7,856,080, edging toward 8 million.
Market observers described a widening split between short-term retail trading and longer-horizon accumulation via regulated products. XRP briefly touched a two-month high of $1.54 before slipping back into a $1.30–$1.50 consolidation range. Technicians said steady ETF accumulation may be building a base below multi-year resistance; if that level breaks and holds, Fibonacci-based long-term targets could point toward an $8 psychological level later in the cycle.
Corporate buyer Strategy continued to add Bitcoin using its Stretch (STRC) preferred shares mechanism. Final figures show the company bought 15,466.30 BTC between May 11 and May 15, a position valued at more than $1.2 billion. The purchases were executed with bitcoin trading between $79,000 and $82,000. If confirmed, Strategy's total bitcoin reserves rise to 834,335 BTC.
The company had reported buying 535 BTC just a week earlier. Strategy last leaned on the STRC structure in mid-April, when bitcoin was near $100, and it acquired 34,164 BTC while prices traded between $70,000 and $77,000. The approach remains controversial, with critic Peter Schiff calling STRC a "classic centralized finance pyramid" and warning against investors selling Bitcoin to rotate into Strategy shares for double-digit yields.
In the broader market, Bitcoin held steady despite heavy ETF selling and a shifting U.S. policy backdrop. After weekly ETF outflows reached $995 million, BTC was testing support near $78,000. Analysts flagged strong demand around $77,300, while warning that a decisive break below that level could deepen the correction.
Macro catalysts are concentrated around U.S. data and Fed communications. The Federal Open Market Committee (FOMC) meeting minutes are due May 20 at 22:00. Building permits follow on May 21 at 16:30. The next major volatility window is May 28 at 16:30, when Core PCE inflation data (prior: 0.3%) and U.S. GDP data (prior: 0.5%) are released.
The report also notes that Kevin Warsh has officially succeeded Jerome Powell as Federal Reserve chair. Warsh is widely viewed as supportive of crypto innovation, but his independence is being closely watched with inflation at 3.8% and as the White House presses for lower rates.
On the legislative front, the CLARITY Act advanced after passing the U.S. Senate Banking Committee by a 15-to-9 vote and now awaits a full Senate vote. The bill is positioned as a framework for institutional custody and broader market structure, with proponents aiming to have final legislation ready for signing before July 4.
In Asia, Japan's financial groups SBI Securities and Rakuten Securities are preparing to launch crypto investment trusts—ETF-like products—before 2027.
