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Crypto

Zcash developer activity slows amid governance dispute, ZEC falls for second straight month

Zcash developer activity has fallen to its lowest level since 2021, and the privacy-focused cryptocurrency’s ZEC token has dropped about 40 percent over the past two months, Cointelegraph reported. Santiment attributed the decline in development activity to overlapping governance disputes and falling prices. The ecosystem is facing conflict between Electric Coin Company and the protocol-support nonprofit Bootstrap. ZEC slid 14 percent last week to about $433.

Crypto

Zcash developer ECC splits with Bootstrap Foundation, forms new company

The Electric Coin Company team that developed privacy-focused cryptocurrency Zcash is splitting from the Bootstrap Foundation and will form a new company, Cointelegraph reported. CEO Josh Swihart said the entire team decided to resign due to disagreements with the foundation’s board and cited changes to employment terms. Zcash founder Zooko Wilcox said he trusted the board’s integrity and that the dispute would not affect network security or privacy. Zcash was down about 7 percent over 24 hours to around $461.