Zcash CEO: Bootstrap has strayed from its mission; the entire development team has been forced to resign and will establish a new company to continue maintaining Zcash.

Josh Swihart, CEO of Electric Coin Company (ECC), the Zcash (ZEC) development team, stated in an article on Odaily: “It has become clear over the past few weeks that the majority of the Bootstrap (the nonprofit organization behind ECC that supports Zcash by managing ECC) board members, particularly Zaki Manian, Christina Garman, Alan Fairless, and Michelle Lai (the ZCAM group), have significantly deviated from Zcash’s mission. Yesterday, the entire ECC team resigned due to ZCAM’s presumed dismissal. In short, our employment terms were unilaterally modified, preventing us from fulfilling our responsibilities effectively and honestly. We are starting a new company, but we remain the same team committed to the same mission—building an unstoppable privacy currency. The key point is that the Zcash protocol itself is unaffected. This decision is solely to protect the team’s work from malicious governance actions that have prevented ECC from fulfilling its original mission.” (Note: In 2020, after a majority of shareholders chose to donate their shares, the Zcash development company…) Electric Coin Company (ECC) is transitioning to a nonprofit bootstrap structure.