Zcash Developers Plan New Firm After Split From Bootstrap

The entire Electric Coin Company team behind privacy-focused cryptocurrency Zcash has split from Bootstrap, the nonprofit created to support the token, and plans to create a new company, according to CEO Josh Swihart.

“Over the past few weeks, it’s become clear that the majority of Bootstrap board members […] Specifically Zaki Manian, Christina Garman, Alan Fairless, and Michelle Lai (ZCAM), have moved into clear misalignment with the mission of Zcash,” Swihart said on Wednesday.

“Yesterday, the entire ECC team left,” he said. “In short, the terms of our employment were changed in ways that made it impossible for us to perform our duties effectively and with integrity.”

“This decision is simply about protecting our team’s work from malicious governance actions that have made it impossible to honor ECC’s original mission,” Swihart said.

“We’re founding a new company, but we’re still the same team with the same mission: building unstoppable private money,” he added. 

Zcash unaffected, business as usual

Swihart said the Zcash protocol is unaffected by the team’s departure and will continue to operate as normal.