Internal crisis leads Zcash team to leave ECC and create a new company.

• Zcash team leaves Electric Coin Company.
• Governance conflict leads to institutional breakdown.
• Developers plan new company focused on privacy.

The Electric Coin Company (ECC), responsible for developing Zcash, underwent a complete structural disruption after the departure of its entire development team on January 7th. The decision followed a deadlock with the board of directors of Bootstrap, a non-profit organization that oversees the ECC and acts as an institutional pillar of the Zcash ecosystem.

The incident was made public by ECC CEO Josh Swihart, who described what happened as the result of a governance conflict. According to him, deep disagreements with the majority of Bootstrap's board made it impossible for the team to continue working within the current structure, even though the Zcash protocol remains technically unchanged.

“Yesterday, the entire ECC team left after being indirectly dismissed by ZCAM. In short, the terms of our employment contract were altered in a way that makes it impossible for us to perform our duties effectively and with integrity.”

Swihart wrote in a social media post.

Related Stories

Zcash undergoes correction after strong rally, testing market confidence.

19/12/2025

Will the Zcash cryptocurrency go up or down? Traders analyze the price of ZEC today.

02/12/2025

Bootstrap, created as a 501(c)(3) entity, has the function of governing the ECC and supporting the development of Zcash. Swihart pointed to a misalignment of vision on the part of board members, including Zaki Manian, Christina Garman, Alan Fairless, and Michelle Lai, regarding the project's original mission focused on privacy.

According to Swihart himself, the departure does not represent the end of the developers' work. He stated that the group is already structuring a new company, with the intention of continuing to develop what he described as "unstoppable private money," maintaining the core proposition that has marked Zcash's trajectory since its creation.

The exodus is part of a series of significant changes in the Zcash ecosystem. In December 2023, Swihart took over as CEO after the departure of Zooko Wilcox, who led the project for eight years. Then, in January 2025, Peter Van Valkenburgh left the Zcash Foundation board, reinforcing the perception of instability in governance.

The move also comes just weeks after an internal reorganization announced on December 1st. At that time, ECC unified its technical and marketing teams, aiming to reduce operational friction and align development with the Zashi portfolio experience.

Despite ZEC's recent upward trend, the token underwent a correction after the announcement. Even so, Zcash remains one of the leading cryptocurrency projects focused on privacy, now facing a new institutional chapter.