Privacy Crisis!
The team from #zcash leaves ECC, denouncing "Malicious Governance"
The rift between ECC and Bootstrap
The Zcash #zec infrastructure, one of the most emblematic privacy networks in the ecosystem, is undergoing an unprecedented institutional crisis.
Here are the key points to understand the conflict:
Mass Exodus: The entire Electric Coin Company (ECC) team, led by CEO Josh Swihart, has left the company. They claim a "constructive dismissal," arguing that the conditions imposed by the Bootstrap board (the nonprofit parent organization) made it impossible to work with integrity.
Root of the Conflict: The dispute centers on the management of Zashi (Zcash's official wallet). While the ECC team sought external investments and more agile structures, the Bootstrap board blocked these moves, citing strict legal and fiduciary risks due to its 501(c)(3) nonprofit status.
Cross-accusations
ECC: Accuses the board (ZCAM) of deviating from Zcash's mission and engaging in "malicious governance actions."
Bootstrap: Defends itself by stating its duty is to protect assets from "private capture" and to avoid lawsuits from donors or regulatory scrutiny over poorly structured agreements.
The Future of the Project: Swihart has announced that the original team will form a new independent company. They assure that their commitment to developing "unstoppable private money" remains intact, and most importantly, that the Zcash protocol continues to function normally, as the network is technically and operationally independent of this corporate conflict.
$ZEC
