Zcash Foundation closed Q1 2026 with $36.7M in net liquid assets and $817,618 in total operating expenses. The SEC concluded its investigation into the Zcash Foundation with no enforcement action, removing regulatory overhang for ZEC. The Foundation planned NU7 implementation and Z3 stack advancement in Q2 2026, with Zcon7 scheduled for Cancun in the fall. The quarter began amid governance upheaval at Electric Coin Company, where the entire development team resigned after a dispute with Bootstrap. ZEC price fell sharply, while the Zcash network continued processing blocks and settling transactions. The Foundation reaffirmed that no single organization controls the Zcash protocol and deployed replacement DNS seeders in the United States and Europe within days. It also announced a native Rust DNS seeder using the zebra-network crate with per-IP rate limiting and Prometheus metrics. The simplified balance sheet showed $36,701,379 in liquid assets and $12,714 in liabilities, with ZEC holdings forming the majority of the portfolio.
"The Zcash Foundation closed Q1 2026 with $36.7M in net liquid assets and $817,618 in total operating expenses. The SEC concluded its investigation into the Zcash Foundation with no enforcement action, removing a major regulatory overhang for ZEC. ZF plans NU7 implementation and Z3 stack advancement in Q2 2026, with Zcon7 scheduled for Cancun this fall. The report covers a three-month period that Executive Director Alex Bornstein called one of the most consequential in the Foundation's history."
"The quarter opened amid governance upheaval at Electric Coin Company (ECC), where the entire development team resigned in early January following a dispute with Bootstrap, the nonprofit overseeing ECC. ZEC dropped sharply on the news, but the Zcash network continued processing blocks and settling transactions without interruption. The Foundation moved quickly to address the transition, publishing a statement reaffirming that no single organization controls the Zcash protocol. When ECC's DNS seeders stopped responding, ZF deployed replacement seeders in the United States and Europe within days."
"The Foundation also announced a native Rust DNS seeder built on the zebra-network crate, featuring per-IP rate limiting and integrated Prometheus metrics. On the regulatory front, the SEC notified the Foundation that it had closed its investigation, which began with a subpoena in August 2023, without recommending enforcement action. The resolution removes a significant legal question that had surrounded the privacy-focused project for nearly three years."
"The Foundation's simplified balance sheet, unaudited and valued at end-of-quarter prices, showed total liquid assets of $36,701,379 against total liabilities of just $12,714, leaving net liquid assets of $36,688,666. ZEC holdings of 85,412.34 coins, valued at $248.22 per coin, made up 58.6% of the portfolio. USD and USDC combined accounted for 33.5%, with BTC rounding out the remainder at 7.9%."
Read at news.bitcoin.com
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