Zcash Development Team Exits En Masse, Plans to Establish New Company Amid Governance Dispute

Josh Swihart, CEO of Electric Coin Company (ECC), which leads the privacy-focused Zcash project, revealed on December 8 via a post on X (formerly Twitter) that the entire ECC development team has departed from the company. The reason for the departure, according to Swihart, is that the majority of the board members of ECC's governing body, the non-profit Bootstrap, had 'clearly deviated' from Zcash's original mission. Swihart noted that employment conditions were unilaterally changed by four board members, including Zaki Manian, leading to the team's decision to leave and establish a new entity.