[Zcash Development Team Resigns En Masse, Will Establish New Company to Continue Supporting Zcash] Josh Swihart, CEO of Electric Coin Company (ECC), the development team behind Zcash (ZEC), posted on X stating that the majority of Bootstrap's board members have deviated from Zcash's mission, leading to the collective resignation of the ECC team. Swihart noted that the employment terms for the ECC team were unilaterally modified, making it impossible for them to perform their duties effectively. The team plans to establish a new company to continue supporting the Zcash privacy-focused cryptocurrency. Swihart emphasized that the Zcash protocol itself remains unaffected, and this move is aimed at protecting the team's work from malicious governance actions. ECC transitioned to the nonprofit organization Bootstrap in 2020.