The entire team from the Electric Coin Company (ECC), the main developer behind Zcash (ZEC), has left. They say that Bootstrap, the nonprofit organization overseeing the company, pushed them to take this step.
This crisis comes at a very critical time for the privacy-focused cryptocurrency ZEC. This year, the coin has faced several market challenges. So far in 2026, the price has already dropped by more than 18 percent.
Zcash Governance-Streit: ECC Team Leaves Project
For clarification: Bootstrap is a nonprofit organization founded in 2020 to lead the Electric Coin Company and support Zcash. However, leadership issues have become increasingly apparent recently.
Recently, Josh Swihart, former CEO of ECC, announced his team's departure on X. Swihart stated that a large portion of the Bootstrap board, including Zaki Manian, Christina Garman, Alan Fairless, and Michelle Lai (collectively "ZCAM"), no longer pursue the original goals of Zcash.
"It has become clear in recent weeks that the majority of the Bootstrap board (a nonprofit organization that leads Electric Coin Company for Zcash), specifically Zaki Manian, Christina Garman, Alan Fairless, and Michelle Lai (ZCAM), no longer align with Zcash's mission. Yesterday, the entire ECC team left the company due to pressure from ZCAM," he wrote.
A 'constructive dismissal' occurs when working conditions deteriorate so severely that an employee voluntarily resigns, even though it is the only sensible choice. Under U.S. law, such resignations are often not truly voluntary.
"Our working conditions were changed to such an extent that we could no longer carry out our duties properly or with a clear conscience," Swihart added.
Despite this, the former ECC team still intends to launch a new company. They want to continue working toward creating "unstoppable private money," said Swihart. He also explained that the Zcash protocol itself is unaffected, as this dispute is about leadership, not technology.
This decision is solely about protecting our team and our work from poor leadership decisions. It is no longer possible for us to fulfill ECC's original mandate," said Swihart.
Zcash founder and former ECC CEO Zooko Wilcox has also spoken out. He emphasized that the leadership dispute has no impact on the Zcash blockchain. The protocol remains open, secure, and freely accessible.
Wilcox also stated that he continues to have trust in the integrity of the board members Swihart mentioned. However, he chose not to take a substantive position on either side.
"This does not concern me or Shielded Labs, and I do not wish to comment on it," he said. "I have worked closely with Alan Fairless, Zaki Manian, and Christina Garman for over ten years, including during difficult times, and with Michelle Lai for about five years. In my view, they are all individuals of very high integrity."
The current conflict follows several leadership changes at Zcash. Swihart became CEO in December 2023, after founder Zooko Wilcox stepped down. A year earlier, Peter Van Valkenburgh had already left the board of the Zcash Foundation.
Additionally, the team has made several organizational changes in the past month. They aimed to address internal issues and position ECC for success in 2026 and beyond.
ZEC: Price Development Amid Zcash Governance Chaos
The leadership crisis comes at a time when ZEC is facing greater market challenges. However, at the end of 2025, there was a strong rally, making ZEC stand out in an otherwise weak overall market.
Growing interest and demand for privacy-focused coins have significantly driven up the ZEC price. According to CryptoRank data, ZEC rose by 816.7 percent in 2025—the best annual performance since 2017.
In 2026, the coin is under pressure. ZEC has dropped about 18 percent since the beginning of the year. According to BeInCrypto market data, the token also fell by around 16 percent in the last 24 hours. At the time of this article, the price stood at $409.79.
Nevertheless, the current price decline is not an isolated case. The entire cryptocurrency market lost nearly 3 percent during the same period. Still, the departure of the development team may have further dampened sentiment around ZEC in the short term.
A market observer said the current management issues have not affected the Zcash code, privacy features, or network operation. Moreover, he views the ECC team's departure as a decision based on conviction, not a failure of the project.
"The original ECC team has stepped back rather than abandoning the goal of creating unstoppable private money. Zcash was designed to outlive companies, boards, and individuals. This moment clearly illustrates that. The chain continues running. Cryptography remains functional. The vision endures. Short-term turbulence is the price of long-term credibility. And credibility is bullish," wrote the market observer.
As this situation continues to evolve, the community is watching how clarity in governance and further development in the Zcash ecosystem will unfold.