Overview
- CEO Josh Swihart said the staff were “constructively discharged” and named board members Zaki Manian, Christina Garman, Alan Fairless, and Michelle Lai as misaligned with Zcash’s mission.
- The departing developers are launching a for‑profit startup called CashZ and announced a new Zcash wallet code‑named cashZ built from the Zashi codebase, with a public waitlist live and migrations for Zashi users promised within weeks.
- Bootstrap’s board said proposed structures to privatize Zashi raised nonprofit law and fiduciary concerns that could invite donor lawsuits and jeopardize the broader ecosystem.
- Project leaders reassured users that the Zcash protocol remains open‑source and operational, and the team emphasized that no new token is being created.
- ZEC dropped sharply following the announcements, with reports of double‑digit declines of around 18% before a partial rebound later in the day.