> At a Glance
> – Entire Zcash dev team resigned from Electric Coin Company after governance clash
> – They will build a new wallet “cashZ” using existing Zashi codebase
> – No new token planned; focus stays on scaling Zcash to billions of users
> – Why it matters: Startup structure aims to accelerate privacy-coin adoption beyond nonprofit limits
The entire development crew behind privacy coin Zcash has walked away from the Electric Coin Company (ECC) and plans to form a fresh, Zcash-only startup. The move follows a governance dispute that saw the team “constructively discharged,” according to an earlier News Of Los Angeles report.
Exit and Immediate Next Steps
Josh Swihart, former ECC CEO, announced the pivot on social media. He confirmed the group will reuse the Zashi wallet codebase to craft “cashZ,” a successor wallet dedicated to the ZEC ecosystem.
Swihart emphasized:
- No fork or new token is planned
- The mission remains 100% Zcash-focused
> “We are all in on Zcash. We need to scale Zcash to billions of users. Startups can scale, but nonprofits can’t.”
Why They Left: Three Core Reasons
Swihart listed the drivers behind the mass resignation:
- Cypherpunk roots – active defense of privacy is essential
- Governance misalignment – nonprofit plus startup combo created friction
- Scaling imperative – a nimble company structure can chase mass adoption faster
## Diverging Numbers
Market data show a split picture. Santiment notes ZEC’s market cap jumped roughly 15× between late September and mid-November 2025, yet the price has since pulled back about 40% over the past two months.
| Metric | Sep-Nov 2025 | Past Two Months |
|---|---|---|
| Market Cap | 15× surge | Retraced 40% |
| Dev Activity | – | Lowest since Nov 2021 |
Falling GitHub metrics now sit at their weakest level since late 2021, a trend that historically signals waning innovation momentum for major altcoins.
Key Takeaways
- Entire Zcash dev team exits ECC after governance fallout
- New startup will keep building Zcash tools, starting with the cashZ wallet
- Price volatility contrasts with declining development activity
- Group believes startup model is better suited for global privacy adoption
The team’s gamble is that a for-profit structure can deliver the speed and accountability they say the ZEC ecosystem now demands.
