Zcash Plunges Amidst Internal Disagreements Over Wallet Privatization
Zcash Plunges Amidst Internal Disagreements Over Wallet Privatization
Zcash (ZEC) experienced a significant double-digit price drop following reports of internal team disagreements at Electric Coin Co. (ECC). The conflict is attributed to proposals regarding the privatization of the Zashi mobile wallet, signaling potential instability within the project's development.
Zcash Price Dips as ECC Team Faces Internal Strife
The privacy-focused cryptocurrency Zcash (ZEC) has seen its value plummet by double digits today, reacting sharply to news of internal disputes within its core development entity, Electric Coin Co. (ECC).
According to a statement from the ECC board, several team members were 'constructively discharged' due to irreconcilable disagreements. Sources indicate that these conflicts are primarily centered around recent proposals to privatize the Zashi mobile wallet. The Zashi wallet is a key interface for Zcash users, and the potential change in its ownership or operational model appears to have sparked considerable internal debate, leading to significant market concern and a bearish trend for ZEC.