Cat Memecoin Pays Out $2.8 Million in Zcash as ZEC Surges

The LCX Exchange has reported that the 'This cat memecoin' (no specific name mentioned) has paid out $2.8 million in Zcash to its holders, coinciding with a price surge of ZEC to over $1,200.

This development comes as LCX AG applies for authorization as a crypto-asset service provider under the EU's MiCA regulation, which is currently undergoing review by the Financial Market Authority (FMA) in Liechtenstein.

Liechtenstein-based LCX Exchange has not yet received authorization under MiCA and therefore restricts its services to withdrawals only for existing EEA clients until further notice. The platform also disclaims any liability for potential losses, emphasizing that crypto-assets are inherently high-risk investments.