Overview
- Reliance confirmed it has fully exited prior crypto holdings and consolidated its Digital Asset Treasury into Zcash after a board-led strategic review with Crypto Advisory Board chair Blake Janover.
- A new disclosure on Nov. 26 stated Reliance deployed additional cash to expand its ZEC holdings, reinforcing Zcash as its primary digital asset exposure.
- Executives cited Zcash’s Bitcoin-based UTXO design, optional transparent or shielded transactions, and zk‑SNARK upgrades such as Sapling and Halo 2 that enable selective disclosure for auditors and regulators.
- Coverage highlighted strong ZEC momentum, including a roughly 1,200% 90‑day rally, OKX’s relisting, and Cypherpunk Technologies increasing its position to about 233,645 ZEC, or roughly 1.43% of supply.
- Immediate market reaction to Reliance’s move was mixed across outlets, and company materials flagged risks including single‑asset concentration, volatility, liquidity constraints, custody and cybersecurity, and potential regulatory shifts.