The Zcash Foundation is addressing concerns after the entire development team of Electric Coin Company, the creators of Zcash, resigned this week. The Foundation emphasized that Zcash remains a decentralized, open-source protocol, unaffected by the team's departure. Former CEO Josh Swihart cited "constructive discharge" due to changes in employment terms as the reason for the exit, accusing the board of "malicious governance actions."
The turmoil comes despite recent institutional support for Zcash, including investments from Coinbase and Cypherpunk, and a Grayscale ETF filing. The token's price fell 15% this week, trading at $475, following a significant rally in 2025. Meanwhile, Monero has regained its position as the leading privacy coin by market cap, now ranked as the 22nd largest cryptocurrency.
Zcash Development Team Resigns Amid Governance Dispute, Monero Reclaims Privacy Coin Lead
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