Zcash’s core development team has resigned en masse following a growing governance dispute with the non-profit board that oversees the Electric Coin Company (ECC), the primary developer of the privacy-focused blockchain.
In a statement shared on X, ECC CEO Josh Swihart said the entire team was “constructively discharged” after fundamental changes to their employment terms were imposed by the Bootstrap board, a 501(c)(3) nonprofit established to govern ECC and support the Zcash ecosystem.
“Constructively Discharged”
Swihart accused a majority of the board, including Zaki Manian, Christina Garman, Alan Fairless, and Michelle Lai (ZCAM), of moving into clear misalignment with Zcash’s original mission. He argued that recent governance actions made it impossible for the team to carry out their responsibilities “effectively and with integrity.”
While the dispute represents a dramatic rupture at the organizational level, Swihart stated that the Zcash protocol itself remains unaffected.
He also said the developers are in the process of founding a new company and intend to continue the same work. The episode has drawn attention to the concept of “constructive discharge.” This term is used in US labor law to describe situations where employees are effectively forced to resign due to “hostile or intolerable” working conditions.
ZEC Trajectory
The resignation of core developers comes at a time when ZEC has already gone through a dramatic price cycle. After trading sideways for much of 2025, the privacy coin staged a powerful rally in the second half of the year and broke above $200 in October. During a late 2025 spike, it eventually surged past $600 for the first time in nearly seven years. This subsequently helped it climb into the top 20 largest cryptocurrencies by market cap.
That explosive move was followed by a pullback as broader crypto markets cooled. Over the past seven days, ZEC has fallen nearly 17%, amid governance turmoil and a broader market correction. It is currently hovering above $400.
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