The Zcash Foundation reported holding $36.6 million in liquid assets at the end of Q1 2025, with operating expenses totaling $817,000 for the same period. This financial position allows the foundation to sustain operations for over a decade at its current burn rate. The foundation's treasury is conservatively managed, with assets in USD, stablecoins, BTC, ETH, and ZEC. In March 2025, the SEC concluded a two-year investigation into the Zcash Foundation without taking enforcement action, alleviating regulatory concerns. This closure removes a significant barrier for ZEC, although privacy coins still face regulatory challenges in other regions. The foundation's financial stability ensures continued focus on engineering and research without financial strain.