@puritan97.base.eth

🔽 Zcash plunges after core dev team exits Zcash fell sharply after the entire team behind Electric Coin Company, one of the main development firms for the protocol, left the organization. The token dropped about 15% in 24 hours, wiping roughly $1.2B off its market cap. The exit was caused by a governance conflict with the nonprofit overseeing the project. According to former CEO Josh Swihart, board members changed employment terms in ways that made it impossible for the team to continue their work properly. The entire team is now launching a new company. They say the protocol itself is unaffected and that they remain committed to the same privacy focused mission.

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