ZEC Crashes 16%: What Happened To The ‘XRP Killer’?
Zcash (CRYPTO: ZEC) crashed 16% to $394 after the entire Electric Coin Company development team resigned on Wednesday.
What Happened Between ECC And Bootstrap
CEO Josh Swihart announced the mass resignation on X, stating the team was constructively discharged after Bootstrap changed employment terms in ways that prevented them from performing their duties effectively.
Swihart named four Bootstrap board members—Zaki Manian, Christina Garman, Alan Fairless, and Michelle Lai—as being misaligned with Zcash’s mission.
The team is forming a new company to continue development work on privacy-focused payments.
Bootstrap countered that the dispute centers on legal compliance, not mission alignment.
The nonprofit board said it was reviewing investment proposals involving Zashi, Zcash’s wallet project, but determined the deal structures could violate nonprofit law and expose the organization to donor lawsuits or regulatory scrutiny.
The conflicting statements suggest the core …
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