2026-01-09 09:27:18

Privacy coin veteran ZEC is experiencing a mid-life crisis.

On January 7th, the Zcash core development team ECC (including the CEO and a total of 25 members) announced their resignation. The news triggered a fierce market reaction—ZEC plummeted 20% in a single day, and the once-favored market darling suddenly lost its favor.

This turn of events is somewhat ironic. As a veteran privacy coin project launched in 2016, ZEC once attracted countless attention with its concept of "full-chain encrypted transactions." But reality proved otherwise: over nine years, only 1% of transactions on the entire network actually enabled privacy features. The coin's price also stagnated, falling from a historical high of $3,000 to a low of $15.

By 2025, a turning point seemed to emerge. At the end of the year, ZEC suddenly surged 800%, reaching $744 in November, with its market cap surpassing $10 billion once again and re-entering the top twenty in the crypto market. The market was optimistic, and everyone was supposed to be happy, but internal conflicts erupted at this moment.

The spark for the conflict was a fundraising plan. ECC wanted to privatize the core wallet Zashi to raise funds, but this was vetoed by the board of the non-profit parent company Bootstrap. The board was concerned that such an operation could face legal risks. The former CEO then lambasted this as "malicious governance," and even mocked board members like ZCAM as being involved in a SCAM. Controversial figure Zaki Manian had previously caused a stir due to alleged connections with North Korean agents and had publicly clashed with Cosmos founder.

The plot took a quick turn. Just one day after resigning, ECC's original team regrouped and established a new entity called CashZ, claiming to launch a new wallet within a few weeks and promising users seamless asset migration.

Behind this turmoil lies a systemic issue in the industry—the fundamental conflict between the non-profit structure and entrepreneurial teams over power and interests. This is not the first time in the crypto ecosystem, nor will it be the last. The chain continues to operate, teams change shells, and ZEC's predicament may just be another footnote in the industry's common problems.

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BridgeTrustFund

· 01-11 13:30

The storyline of ZEC is truly amazing. The former CEO turned the governance turmoil in the crypto world into a palace intrigue drama. --- 1% privacy users... No wonder it's so weak. Where's the promised strong privacy requirement? --- ECC leaves and returns day after day. Are they rushing to pump the price and harvest the韭菜 (newbie investors)? Or is there really a story behind it? --- This guy puts Zaki and SCAM together, the hint is way too obvious haha. --- The non-profit structure is indeed a trap. Give the startup team some power, and they want to privatize and raise funds. Typical "I do it for you, but I want to make money." --- An 800% surge is totally gambling. Looking back, everything was pointless. --- CashZ? Just a different name to continue the scam. Can users really migrate seamlessly, or are assets just transferred to the new team? --- The feud between Cosmos and ZEC has gotten this intense. The circle is indeed small.

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MetaverseLandlord

· 01-09 12:24

Tsk tsk tsk, this move cracked me up. Where's the privacy coin you promised? Turns out the internal conflicts are more transparent than the public chain. As for ZEC, honestly, it's just a NonProfit shell that can't hide the entrepreneurial spirit. It's bound to blow up sooner or later. Only 1% of users in 9 years utilize privacy features? Might as well just rename it "Transparent Coin."

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potentially_notable

· 01-09 09:57

ZEC I've seen this routine too many times. Basically, it's just a power struggle; everyone wants to control that traffic. It's really ironic, with only 1% usage rate for privacy features. Privacy coins are just a joke. ECC said they would leave and establish CashZ. This move is impressive; the split can even be "seamlessly migrated," and users have become real leeks. I've said it before, a non-profit structure can't do anything fancy. Let's wait and see how long CashZ can survive. The eternal script in the crypto world, nothing new.

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LiquidityWizard

· 01-09 09:57

ZEC this act is really amazing... quitting one day and coming back the next, I have to give full marks for this rhythm

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AlgoAlchemist

· 01-09 09:39

Damn, more internal conflicts. The套路 in the crypto circle is really tm rotten through ZEC dropped from 3000 to 15 bucks, and it's already a miracle that it's still alive. What are they messing with now? Resigned for a day and then came back to establish CashZ? Can't you first fix the wallet before playing these tricks... 1% of people using privacy features says it all. Can't we stop hyping up full-chain encryption? This is the尿性 of a non-profit structure; power struggles are more active than product development. Are those ECC guys really not afraid of killing ZEC? A surge of 800% and they don't cherish it.

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LiquidationTherapist

· 01-09 09:29

This is the norm in crypto. Today we're still raising funds together, tomorrow everyone does their own thing. ZEC's recent move was too crazy. After an 800% surge, internal conflicts immediately erupted—typical case of "concealing contradictions when successful, exploding when failing." A 1% privacy transaction rate says everything... The fundamental problem with this coin has never been solved. It's the same old trick of "resigning for a day and then making a comeback." Just changing disguises to continue cutting. The drop from a historical high of 3000 to $15—how deep must that psychological shadow be? ECC CEO comparing the board of directors to a SCAM... That must be so frustrating, haha. It's 2025, and they're still playing these power games. This industry really has no hope. Non-profit and startup teams are inherently opposed. This isn't just a ZEC issue; it's a problem with the entire ecosystem. That guy Zaki previously had a feud with Cosmos, and now he's back... This person is toxic. Wallet privatization funding was rejected—this move is really outrageous. Rebranding and starting over, allowing users to migrate seamlessly 🤣—I think it's just seamless韭菜割割.

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