The Zcash Foundation has defended the Zcash (ZEC) network as independent from any third party. The Zcash Foundation responded to claims that the core team had dropped out amid onchain data showing notable cash out from the team.
“No single contributor, team, or organization controls Zcash. In fact, Zcash was deliberately designed for resilience,” the Zcash Foundation stated.
According to onchain data analysis from Santiment, development activity on the Zcash network has dropped to its lowest level since 2021. The decline in GitHub events from the Zcash team coincided with reports of an exodus of the core developers.
Source: X
On January 7, 2026, the entire team from Electric Coin Company resigned ostensibly due to internal governance conflict. Around 25 ECC team members led by Josh Swihart, the CEO, and Chelsea Komlo, the Chief Scientist resigned.
As such, the Zcash Foundation urged the ZEC community to separate the organizational shift of any single entity from the network. Furthermore, the Zcash Foundation reiterated that the Zcash network is resilient and continues to run smoothly.
The unfolding event of the team exodus increased selling pressure on the ZEC price today. According to market data from CoinMarketCap, ZEC price dropped over 18% on Thursday to trade below $400, before rebounding towards $431 at press time.
After an impressive bull rally in 2025, catalyzed by the privacy narrative, the ZEC price has faced short-term selling pressure. The loss of key developers raised concerns about the network’s ability to execute crucial updates like Halo 2, a Trustless ZK proof.
From a technical analysis standpoint, altcoin has formed a potential macro reversal pattern, which can only be invalidated if ZEC price rallies above its prior all-time high.
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