Entire Zcash Development Team Exits Electric Coin Company Amid Governance Crisis
The Zcash ecosystem faces unprecedented turmoil as the entire development team at Electric Coin Company (ECC) resigned en masse following a governance dispute with the Bootstrap board. CEO Josh Swihart cited "impossible working conditions" created by board members Zaki Manian, Christina Garman, Alan Fairless, and Michelle Lai, whom he accused of misalignment with Zcash's privacy-focused mission.
The abrupt departure triggered a 7-8% price drop for ZEC tokens, though network operations remain unaffected. Swihart characterized the situation as "constructive discharge," alleging the Bootstrap nonprofit altered employment terms to effectively force resignations. This marks one of cryptocurrency's most severe governance failures, shaking confidence in privacy coin infrastructure.
