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Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. Zcash Promotion Sparks BTC Rift: Analysts warn Zcash hype could “split the vote” as Bitcoin seeks unified political backing. The divide raises questions over organic adoption versus manufactured hype.

2. X Faces Privacy Backlash: Vitalik Buterin and crypto leaders slammed X’s new mandatory country-display feature as unsafe and “forced doxing.” Experts say exposing location threatens user anonymity and security.

3. Pump.fun Cashes Out Millions: Pump.fun moved over $436M USDC to Kraken as memecoin trading slows and revenue drops 53%. With over $1B still on-chain, concerns persist over fund transparency.

4. 💡Feature of the Day - Hyperliquid Faces $314M Unlock: Hyperliquid’s upcoming token unlock has raised fears of major sell pressure, especially after HYPE fell 23% this month.

   
   All this and more in today’s headlines!

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📰 News Highlights:

Zcash vs Bitcoin [Source][Source][Source][Source]

The Zcash debate has intensified as Bloomberg ETF analyst Eric Balchunas warned that aggressive promotion of ZEC risks “splitting the vote” at a time when Bitcoin needs unified political support.

Bitcoin advocates argue that Zcash’s recent surge is fueled by manufactured hype, citing paid promotional emails and fake headlines predicting $100,000 ZEC.

Critics see this as a potential pump-and-dump scheme designed to create exit liquidity, prompting skepticism from BTC maximalists who largely dismiss ZEC as a distraction.

Despite the backlash, Zcash has gained support from high-profile backers like the Winklevoss twins, who launched Cypherpunk Tech, the first Zcash-focused treasury company.

They describe ZEC as “encrypted Bitcoin,” arguing that while BTC is the premier store of value, Zcash fulfills a crucial role in private transactions through zero-knowledge tech. This growing ideological divide highlights a deeper question: Is Zcash’s rise organic adoption or a coordinated marketing surge?

X Privacy Backlash [Source][Source][Source]

Vitalik Buterin and other crypto leaders sharply criticized X’s new mandatory country-display feature, calling it unsafe and an invasion of user privacy. Buterin argued that forcing location visibility without consent exposes users, especially high-net-worth or targeted individuals, to unnecessary risk.

Uniswap’s Hayden Adams described the update as “mandatory doxing,” while security experts warned that even small bits of personal information can meaningfully reduce anonymity.

X defended the feature as a way to improve information authenticity and combat foreign influence, though many users found the rollout poorly designed. Privacy-minded accounts quickly circulated guides showing how to disable or limit the visibility settings.

While some argued that country-level disclosure still provides large anonymity pools, most of the crypto community agrees the change was implemented recklessly and undermines user safety.

Pump.fun Cash-Out [Source][Source][Source]

Pump.fun, a top memecoin launchpad, has transferred over $436 million in USDC to Kraken since mid-October, signaling major cash-outs as the memecoin mania cools. The moves came shortly after a $19 billion crypto market crash, which severely reduced speculative trading and caused Pump.fun’s monthly revenue to drop 53%, its lowest since July.

Community members worry the transfers reflect insider profit-taking and fear it could introduce additional market selling pressure.

While critics warn of potential dump activity, on-chain analysts suggest the funds may relate to institutional private placements rather than immediate market selling.

Pump.fun still holds over $1 billion in assets across stablecoins and SOL, raising further questions about internal fund management.

💡 Feature of the Day: 

Hyperliquid Token Unlock [Source][Source][Source][Source]

Hyperliquid faces intense scrutiny ahead of a major $314 million token unlock releasing 9.92 million HYPE tokens to core contributors. The looming “cliff unlock” has sparked fears of heavy sell pressure, amplified by a 23% drop in HYPE over the past month.

BitMEX co-founder Arthur Hayes warned that traders must assume insiders will sell regardless of verbal assurances, since no binding restrictions prevent it. Community members, recalling past VC-driven crashes, urged the team for clearer communication.

Despite concerns, Hyperliquid continues to post strong trading activity, ranking among the top perpetual DEXs with $259 billion in monthly volume. Industry data shows that perp DEXs still handle up to $60 billion in daily activity, suggesting high demand even amid market turbulence.

Still, the $314 million unlock remains a major psychological pressure point, and the platform’s future price stability may depend on whether revenue growth can counter the sudden supply surge.

😂 Crypto Meme of the Day: 

Meme of the day provided by @web3.career

And that’s it for this today.

See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com