> At a Glance
> – The entire Electric Coin Company (ECC) development team resigned after a governance clash with the Bootstrap board.
> – CEO Josh Swihart claims the team was “constructively discharged” by a board majority that includes Zaki Manian, Christina Garman, Alan Fairless, and Michelle Lai.
> – Zcash (ZEC) price slid 17% in seven days while staying above $400.
> – Why it matters: A top privacy coin’s future hangs on whether a new company can keep the protocol advancing without missing a beat.
A boardroom power struggle has forced the Electric Coin Company’s whole engineering group out the door, but Zcash’s blockchain keeps running without a hitch.
Walkout Trigger
Josh Swihart, ECC’s chief executive, said board members imposed new employment terms that the team felt violated Zcash’s founding mission. The board majority-ZCAM-allegedly pushed changes that blocked the staff from working “effectively and with integrity,” prompting a mass resignation.
- Constructive discharge under U.S. labor law happens when workplace conditions become hostile or intolerable.
- Swihart argues the board’s move fits that description.
- Developers are already forming a new company to continue the same work.
Market Snapshot
The exit news arrives as ZEC rides a volatile 2025 price wave. The coin broke a seven-year ceiling by surging past $600 in late 2025 before cooling. Current stats:
| Metric | Value |
|---|---|
| 7-day change | -17% |
| Current price | ~$400 |
| 2025 peak | $600+ |
| Market rank | Top 20 |
Key Takeaways
- Zcash developers resign en masse after governance clash with the Bootstrap board.
- The core protocol remains operational and unaffected.
- A new company is being formed to continue development.
- ZEC’s price slipped amid turmoil but stays above $400.
The exodus leaves the privacy project searching for a stable path to keep upgrades on track.
