Zooko: Ends Zcash community funding, establishes development and legal defense fund

Zcash founder Zooko stated on the Zcash forum that Tachyon Group and Shielded Labs have submitted a proposal to terminate further funding to the Zcash Community Grant (ZCG) and reduce its treasury size, donating $50 million to the Network Sustainability Mechanism (NSM) and establishing a fund for future development and legal defense. Zooko stated that the Zcash community is experiencing a governance crisis and called on the community to support the proposal and withdraw other alternatives. Shielded Labs does not accept ZCG funds; instead, they accept donations from ZEC holders and supporters.