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Zcash Dev Team’s New Company Raises $25M in Seed Round

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Zcash Open Development Lab, which Zcash devs formed after leaving Electric Coin Capital, raised funds from prominent crypto VCs.

The recently founded firm Zcash Open Development Lab (ZODL) — formed by the core developers of Zcash (ZEC) after they recently exited Electric Coin Capital — announced today, March 9, that it has secured over $25 million in seed funding to support the privacy-focused ecosystem.

A number of prominent venture capital firms and investors participated in the seed round, including Paradigm, a16z crypto, Winklevoss Capital, Coinbase Ventures, Cypherpunk Technologies, Maelstrom, Chapter One, Balaji Srinivasan, Haseeb Qureshi, and Mert.

In a separate X post today, the founder of ZODL and former CEO of ECC, Josh Swihart, explained the move, the recent organization shifts, and the org’s goals post-funding:

“ Ultimately, we intend to deliver a private, decentralized financial system as an alternative to legacy institutions. This funding allows us to bring these ambitions to life, without relying on Zcash dev fund grants to get there.”

The price of ZEC rallied nearly 10% to over $215 on the news, making it the second-best performer among the top-100 crypto assets today.

ZEC 24-hour price chart. Source: CoinGecko

ECC to ZODL

The fundraising round marks a major milestone for the new firm, which formed after a governance dispute in January that resulted in the entire core development and leadership team at ECC leaving.

ECC’s wallet app, Zalshi — now rebranded to Zodl — was a key focus of the dispute, as ECC and the nonprofit board overseeing it, Bootstrap, disagreed about the app’s development strategy.

Under Swihart’s leadership, the former ECC team swiftly moved to form a new entity and wallet, which are effectively rebrands of ECC and Zalshi, respectively. Swihart also clarified at the time that the team had no intentions of leaving the Zcash ecosystem or its core development.

This article was generated with the assistance of AI workflows.

MSTR and ASST have big upside after major declines, says B. Riley

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Investment bank B. Riley initiated coverage of bitcoin treasury firms Strategy (MSTR) and Strive (ASST) with buy ratings, setting price targets of $175 and $12, respectively.

Strategy was trading at $141.82 at publication time, Strive at $8.67.

The sector was pressured after bitcoin fell more than 45% from about $126,000 in October 2025 to roughly $69,000 in early March 2026, compressing market-to-NAV premiums and slowing the equity issuance that had fueled bitcoin accumulation, the bank said in a report published Monday.

The correction has weighed on crypto-linked equities and funds. The decline in BTC prices and broader risk-asset sentiment has contributed to volatility in shares of companies exposed to digital assets, including corporate bitcoin holders and crypto-focused investment vehicles.

Strategy remains the largest bitcoin treasury company, holding 738,731 BTC. The company, led by Executive Chairman Michael Saylor, made a massive bitcoin purchase last week, adding 17,994 bitcoin to its holdings for a total cost of $1.28 billion, or $70,946 per coin.

The company has built a “digital credit platform” combining common equity and five series of perpetual preferred shares yielding 8% to 11.5%, backed by about $2.25 billion in cash reserves, according to analyst Fedor Shabalin.

The analyst noted that Strategy’s shares trade around 1.2 times mNAV, well below a roughly 3.4x peak in 2024, presenting an attractive entry point.

mNAV is a metric used to value bitcoin treasury companies by comparing a company’s market capitalization to the value of its underlying bitcoin holdings and related assets.

Strive, meanwhile, combines a bitcoin treasury of about 13,100 BTC with an asset-management business overseeing roughly $2.5 billion. The analyst pointed to its low leverage, a preferred share yield of about 12.5%, and a valuation discount, with the stock trading at around 0.9x modified NAV.

Preferred securities issued by the companies could attract yield-focused investors, given that the payouts exceed many traditional income alternatives, the report added.

Read more: Strategy logs record STRC equity issuance on Monday, buys estimated 1,420 bitcoin

Nscale Valued at $14.6B After Raising Another $2B

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The dramatic rise of U.K.-based neocloud startup Nscale is continuing apace, after the company revealed it raised a $2 billion series C funding round, valuing it at $14.6 billion.

According to Nscale, the series C round is the largest ever recorded in Europe, though that claim is not independently verified. It builds on a $1.1 billion Series B in September, followed by a $433 million pre-series C simple agreement for future equity agreement, a type of contract that gives the investor the right to receive shares later. The latest funding includes the pre-series C.

The sums involved are significant, given that Nscale was only formed in 2024, having been spun out of an Australian bitcoin mining firm. Now it is one of the key players in the ongoing rush to build up AI infrastructure, developing data centers and operating cloud services.

The latest investment was led by Aker USA and 8090 Industries, with significant support from big names such as Nvidia — which has already provided heavy backing — and Nokia, Lenovo, Citadel and Dell.

Related:Underwater Data Center Project Aboard Offshore Wind Turbine

At the same time as revealing the new funding, Nscale also underscored its growing influence by appointing several high-profile members to its board of directors.

Taking top billing is former Meta chief operating officer Sheryl Sandberg, who is joined by another ex-Meta executive, the social media giant’s one-time president of global affairs, Nick Clegg — best known in the U.K. for his stint as the country’s deputy prime minister from 2010 to 2015. The other addition is Susan Decker, the former president of Yahoo.

Among Nscale’s deals over the past year is a commitment to deploy 200,000 Nvidia GB300 GPUs to Microsoft, across a handful of data center locations, including in Barstow, Texas; Sines, Portugal; in Loughton, Essex, in the U.K.; and Narvik, Norway.

For the Norwegian project, initially announced as a joint venture with Aker, Nscale now said it will assume full control, although Aker remains a major shareholder in the London-based company.

Nscale is also involved in developing a data center in Keflavik, Iceland, with the U.K.-based Verne Global data center company.

Nscale said it will use the latest investment to accelerate development of infrastructure in Europe, North America and Asia, with a focus on expanding its engineering and operations teams.

“This is the fourth industrial revolution; the world is changing at a rapid pace,” CEO Josh Payne said in a statement. “Over the next five years, artificial intelligence will be integrated into every industry, every product and every job — accelerating drug discovery, extending human life, autonomizing travel and robotics, lifting productivity and driving massive growth.”

Related:Amazon Spends Another $21B to Beef up Spain’s AI Infrastructure

Nscale is seen as pursuing an IPO, with Payne previously telling the Financial Times in 2025 that vendor was targeting the “back end of next year [2026].” It’s not clear if that time frame is still on track.

Bitcoin Eyes $72K Liquidity Sweep as Bulls Regain Short-Term Control

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Bitcoin (BTC) price action liquidated shorts on Tuesday as market participants reacted to US President Donald Trump’s comments on the Iran war.

Key takeaways:

  • Bitcoin order book liquidity is increasing as BTC price rebounds to $71,000.

  • Market participants anticipate a liquidity grab toward $72,000 next.

  • BTC price momentum improves, with rising spot volume and strong ETF inflows.

BTC/USD 1-hour chart. Source: Cointelegraph/TradingView

Liquidity clusters set up BTC price showdown

Data from TradingView showed BTC/USD hovering around $70,780 on Bitstamp, up 4.5% over the last 24 hours.

With BTC price recovering while liquidating shorts, orders were being stacked both above and below the spot price, setting the stage for the next liquidity grab.

“$BTC pumped above $70,000 yesterday, liquidating $186M shorts in the past 24 hours!” analysts at CryptoReviewing said in a Tuesday post on X.

Related: Will Bitcoin follow oil’s historic surge and rally to $79K before the end of March?

The liquidation heatmap shows that the $70,000-$72,000 supply zone has thinner liquidity that could easily be swept, potentially leading to the next big cluster at $74,000-$75,000.

However, with bigger clusters below, the price has a better chance of dipping below $70,000 after the $72,000 pocket gets filled.

“Meanwhile, below at $64,000-$68,000 we have large liquidity clusters, totalling roughly 4x more liquidity, making this the ‘more likely’ zone to visit next from a liquidity perspective,” the analysts said, adding:

“Bulls just applied the pressure.”

Cryptocurrencies, Bitcoin Price, Markets, Price Analysis, Market Analysis, Bitcoin ETF, ETF
Bitcoin 24-hour liquidation heatmap. Source: CoinGlass

Zooming out, CoinGlass highlighted the “largest short liquidation cluster” sitting higher up between $74,000 and $75,000 on the weekly time frame.

Bitcoin weekly liquidation heatmap. Source: CoinGlass

Bitcoin price flashes “positive” recovery signals

Bitcoin price momentum has firmed over the past week, with the 14-day relative strength index (RSI) rising from the recent lows to 52 on Tuesday from 30 on March 1, according to data from Glassnode.

The rising RSI “signals a modest improvement in BTC momentum,” Glassnode said in its latest Weekly Market Pulse report, adding that the move higher “points to high buyer activity.”

Spot demand is returning, with BTC trading volume rising to $9.3 billion at the time of writing from $3.38 billion on Saturday, a more than 140% increase.

BTC 24-hour spot volume. Source: Glassnode

Spot Bitcoin ETF activity remains a relative area of strength, with net inflows accelerating to $934 million, and trading volumes rose to $23.1 billion from $16 billion last week.

The strength of inflows “points to sustained institutional demand and continued traditional finance engagement,” Glassnode added.

Spot Bitcoin ETFs weekly flows and trading volume. Source: Glassnode

The demand for spot ETFs continued at the start of the week, with these investment products attracting $167 million in net inflows on Monday. Meanwhile, global Bitcoin investment products logged $521 million in net inflows, contributing to BTC’s upside momentum.

Crypto investor and analyst CW8900 said that “net buying” was occurring across all major exchanges, a “positive signal of actual buying demand.”

Source: CW8900

As Cointelegraph reported, Bitcoin ETFs recorded net positive inflows over the past 30 days while gold ETFs saw record outflows over the same period. This could be a sign that capital is rotating from gold into Bitcoin.