Although it was not intentional, the ECC team could have informed communities around the world about this move in advance, so that we could have prepared an official post for our communities. Today, we are receiving hundreds of inquiries and DMs asking for clarification, and countering fake news and FUD once it has spread is extremely difficult. This is simply a point I wanted to raise.
Here are 2 texts from Zcash Brazil to their community. Feel free to use and confirm if there are any errors.
PART 1:
Official Clarification: Zcash Developers Did NOT Abandon the Project!
Dear Zcash community members, especially here in Brazil,
In recent hours, alarming news and rumors have circulated suggesting that Zcash’s core developers have left the project, causing concern and impacting the ZEC price. We categorically refute this mistaken interpretation.
What actually happened:
- The entire Electric Coin Company (ECC) team, led by CEO Josh Swihart, separated from the governance structure of the non-profit Bootstrap organization due to profound disagreements. Part of the Bootstrap board (specifically members Zaki Manian, Christina Garman, Alan Fairless, and Michelle Lai) had significantly deviated from Zcash’s original mission.
- This led to a “constructive dismissal” of the team, which chose to leave the current ECC structure to protect the project’s work and vision.
But make no mistake: the team did NOT abandon Zcash!
On the contrary, the same full team is founding a new company to continue development with the exact same mission.
As Josh Swihart himself stated: “We are founding a new company, but we are the same team with the same mission: to build unstoppable private money. Important: the Zcash protocol is unaffected by this.”
The Zcash protocol remains open-source, secure, permissionless, and fully operational. No technical changes affect the network, and development continues with the same dedicated professionals who have built Zcash to date.
This transition is merely an organizational restructuring to preserve Zcash’s core values: true financial privacy and economic freedom.
Zcash is more alive than ever! Let’s keep supporting the project, using shielded transactions, and spreading the vision of privacy.
We’re here if you have any questions.
PART 2
Today (January 8, 2026), alarming posts about Zcash exploded, claiming “the devs abandoned the project,” “the entire team quit,” or “Zcash is dead.” This triggered a ~20% price drop in just a few hours, and many of you asked: why was this FUD created? Based on actual searches on X and the web, it was not an organized fake-news campaign but a combination of sensationalism, misinterpretation, and opportunism. Josh Swihart’s (former ECC CEO) official announcement was dramatic, and many people only read the part about “the entire team leaving ECC” while ignoring the rest: the same team is forming a new company to CONTINUE developing Zcash with the same mission of unstoppable privacy.
What Really Happened:
- Governance conflict: The Electric Coin Company (ECC) team left the current structure due to serious disagreements with the Bootstrap board (the non-profit that oversaw ECC).
- Not abandonment: The entire team (including Josh Swihart) is founding a new company to continue working on Zcash. The protocol remains intact, open-source, and 100% functional.
- Zcash protocol: Nothing has changed technically. The network is secure, shielded transactions are fine, and upgrades continue.
Why Did the FUD Explode Today?
- Sensationalism for engagement: Influencers and news accounts use alarming headlines to gain likes, retweets, and views. Classic “bad news sells.”
- Partial reading of the announcement: Many shared only the “devs resigned” part without mentioning the new company. This creates rapid panic in crypto markets.
- Trader/short opportunism: A price drop = opportunity to buy low or profit from shorts. Some deliberately amplify fear.
- Rivalry with other privacy coins: The Monero (XMR) community seized the moment to compare: “Monero has no team to abandon.” It’s marketing disguised as FUD.
- Genuine confusion: Crypto moves fast; many didn’t read the full announcement and reposted exaggerated versions.
Real Examples of Misleading/Fake-News Posts on X Today
- @coinbureau (almost 2k likes): “
JUST IN: ZCASH DEVS RESIGN, MAY FORM NEW COMPANY” – Title implies abandonment; the “may” adds uncertainty. - @ElonTrades (900+ likes): “The entire $ZEC dev team just resigned.” – Straightforward, no mention of continuity → pure panic.
- @XBToshi (Monero maxi): “Zcash: Dev team quits… RIP Corporate Privacy.” – Compares to Monero to promote XMR.
- @crypto_bitlord7: “Zcash developers abandoning the project is bullish” – Sarcastic, implies bearish, and accuses holders of gaslighting.
- Various accounts: “THE ENTIRE $ZEC DEV TEAM JUST QUIT ” – Repeated by large accounts, driving the dump.
These posts garnered thousands of interactions and contributed to the price drop.
Posts That Clarify the Truth (The Good Ones)
- @Agzt_111: “ECC Devs are migrating to a new company, not leaving the ecosystem… This is good news long-term.”
- @arjunkhemani: “No one from Zcash has quit. The entire team… is more aligned than ever.”
- @BTCTurtle: “They didn’t leave Zcash itself… ZEC ≠ECC.”
- Even Zooko and others reinforced: protocol unaffected, demonstrating Zcash’s resilience.
Conclusion: Is This Bullish Long-Term?
Yes! Removing non-profit constraints can accelerate innovation. The same brilliant team continues building. Zcash has proven resilience, it has survived changes before and emerges more decentralized. Today’s FUD was exaggerated and based on half-truths, but that’s crypto: the market reacts first and understands later. Those who HODL with knowledge come out ahead. Keep using shielded transactions and supporting true privacy.
