Zcash (ZEC) experienced a significant price drop, declining approximately 20% on January 8, according to reports. This downturn occurred amidst governance issues and market conditions. The Electric Coin Company (ECC) team, historically responsible for Zcash's core development, collectively departed following disagreements with the Bootstrap board, a nonprofit overseeing ECC. The former CEO of Electric Coin Company, Josh Swihart, stated the team was "constructively discharged" by the Bootstrap board. The board stated the dispute centered on a proposal to privatize "Zashi", citing concerns about conflicts of interest and the fair valuation of charitable assets, drawing parallels to the corporate governance struggles at OpenAI.

Zcash (ZEC) experienced a significant price drop, declining approximately 20% on January 8, according to reports. This downturn occurred amidst governance issues and market conditions. The Electric Coin Company (ECC) team, historically responsible for Zcash's core development, collectively departed following disagreements with the Bootstrap board, a nonprofit overseeing ECC. The former CEO of Electric Coin Company, Josh Swihart, stated the team was "constructively discharged" by the Bootstrap board. The board stated the dispute centered on a proposal to privatize "Zashi", citing concerns about conflicts of interest and the fair valuation of charitable assets, drawing parallels to the corporate governance struggles at OpenAI.