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Photo session for President Trump's team at VANITY FAIR newspaper:

- Suzy Wiles, Chief of Staff
- Vice President JD Vance
- Secretary of State Marco Rubio

- Stephen Miller, Homeland Security Advisor
- Dan Scavino, White House Communications Advisor
- Caroline Levitt, White House Press Secretary
- James Blair, Assistant to the President
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🧐
👀↔️ On January 7, 2026, the entire team of the Electric Coin Company resigned simultaneously
This was not a partial walkout or leadership reshuffle. Every employee of the primary organization that has developed Zcash since 2016 stepped down at once.
The reason was a deep governance conflict.
🔺What caused the mass resignation:
According to public statements by Josh Swihart, CEO of Electric Coin Company since late 2023, the team was “constructively discharged” by a majority of the Bootstrap board.
Constructive discharge is a legal term. It means that working conditions were changed so severely that resignation became the only reasonable option. Swihart stated that board decisions restricted ECC’s autonomy, blocked roadmap execution, and created a clear misalignment with Zcash’s original mission of building censorship resistant private money.
Swihart publicly named board members Zaki Manian, Christina Garman, Alan Fairless, and Michelle Lai as part of the board majority responsible for this shift.
The result was unprecedented: the full ECC team resigned together.
🚨What the former ECC team plans next
The departing developers have stated they are considering forming a new independent company focused on privacy preserving financial technology. No official name, structure, or timeline has been announced yet.
This is a separation between builders and governance.
🤔Zooko Wilcox response:
Zcash founder Zooko Wilcox, who stepped down as ECC CEO in December 2023 and is now associated with Shielded Labs, commented publicly in a neutral tone.
He described the dispute as involving one or two support organizations within the broader Zcash ecosystem. He emphasized that the Zcash network itself is unaffected, open source, permissionless, secure, and private, and that no internal conflict can change those properties.
👀Impact on the Zcash network:
From a technical standpoint, nothing broke.
The Zcash blockchain continues to operate normally. Nodes are running, shielded transactions function as designed, and there has been no protocol halt, rollback, or security incident. This is a governance crisis, not a network failure
🟢 Market reaction?
The market reacted immediately. ZEC dropped roughly 10 to 20 percent within hours of the news breaking. Prices fell from the 480 to 500 range to lows reported between 400 and 420 depending on exchange and timing.
This move followed an extreme 2025 rally in which ZEC gained more than 800 percent from cycle lows and briefly exceeded a 10 billion market capitalization during the privacy coin resurgence.
Volatility remains elevated, but no systemic liquidity failure has occurred.
🤔Why this matters historicaly?
This is not the first major shakeup in the Zcash ecosystem.
Zooko Wilcox stepped down as ECC CEO in 2023.
Peter Van Valkenburgh resigned from the Zcash Foundation board in January 2025.
ECC announced internal reorganizations in December 2025 📢
Now, in January 2026, the entire ECC team has exited 📢
Zcash has always relied on multiple organizations sharing responsibility. That structure was designed to prevent capture. It also creates persistent governance tension 📢
🔺The core issue?
This event is not about personalities. It is about control over mission and direction 📢
Privacy technology exists in constant tension with regulatory pressure, institutional risk management, and governance conservatism. Boards tend to prioritize stability. Builders tend to prioritize capability and principles 📢
When those paths diverge, governance breaks before code does 📢
Here, the builders chose to leave.
Zcash the network survives. That is not in question 📢
What is uncertain is where future innovation, narrative leadership, and technical momentum will concentrate 📢
A new independent team aligned with Zcash values could strengthen the ecosystem, or deepen fragmentation 📢
This is a governance fracture, not a technical collapse 📢
And those are the hardest crises to resolve 🤔
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