Overview
- Electric Coin Company’s entire development team resigned after board-imposed employment changes, which CEO Josh Swihart called a constructive discharge, naming four Bootstrap directors as misaligned.
- The departing group says it will form a new company to continue Zcash’s privacy mission and confirmed it is not launching a new token.
- Bootstrap’s board cited legal exposure tied to plans to privatize the Zashi wallet, warning such a move could invite donor lawsuits and threaten the ecosystem.
- Zcash’s open-source protocol remains operational and permissionless, with founder Zooko Wilcox assuring users the network is safe to use.
- Swihart announced a waitlist for a new wallet based on the Zashi codebase, code‑named cashZ, with planned migration for Zashi users in the coming weeks as ZEC traded lower by double digits before a partial rebound.