@insightbysamir.base.eth
Why Everyone is Tweeting About "Zcash is scam project", let's clear the confusion:
What Actually Happened (No, It's Not Dead)
Yesterday (Jan 7th), the entire Electric Coin Company (ECC) team including CEO Josh Swihart resigned en masse.
Reason?
Governance clash with Bootstrap (the nonprofit board overseeing ECC). Swihart called it "constructive discharge" due to misalignment on Zcash's mission.
Key facts: The protocol & network are fine Zcash is decentralized & open-source. It keeps running.
No insider rug: On-chain shows a whale unshielded ~200k ZEC earlier this month (pre-news), not coordinated dumping.
The team is forming a NEW independent company to keep building privacy tech for Zcash (or beyond?).
Price dumped ~18-20% to ~$400 amid panic, but this is more governance reset than death spiral.
Privacy coins always cycle:
Big hype > Regulatory FUD > Drama > Rebirth.
Bullish on real privacy enduring? Or time to rotate to $XMR/ $RAIL/ $ZAMA ?
Do you steel believe on $ZEC ?👇
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