Former ZCash Developers Launch cashZ Wallet After ECC Exit

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Former ZCash Developers Launch cashZ Wallet After ECC Exit

• Former ZCash developers unveiled cashZ shortly after leaving Electric Coin Company.
• cashZ uses the Zashi codebase and continues ZCash development without launching a new token.
• Governance disputes and scaling limits led the ZCash team to create a new company structure.

Ex-ZCash core developers disclosed plans for a new wallet named cashZ on January 8, 2026. The announcement came less than 24 hours after the full development team resigned from Electric Coin Company. The move marked a rapid shift in direction for the core builders of ZCash. It also confirmed continuity of development despite the abrupt organizational split.

We are all in on Zcash.

We need to scale Zcash to billions of users.

Startups can scale, but nonprofits can’t.

That’s why we created a new Zcash startup.

— Josh Swihart 🛡 (@jswihart) January 8, 2026

Josh Swihart, the former chief executive of ECC, said the same team that launched ZCash and the Zashi wallet is now developing cashZ. He stated that the wallet will be released within weeks. Existing Zashi users will be able to migrate easily. Swihart stressed that the team remains focused only on ZCash development.

cashZ Development Moves Forward After ECC Split

The developers confirmed that cashZ is being built using the same Zashi codebase created at ECC. No new cryptocurrency is being introduced. The effort is aimed at scaling ZCash through a new company structure. The name cashZ will remain a working title until the official release. Further technical details were not disclosed.

The announcement followed the team’s resignation on January 7. The entire ECC development group left after a governance dispute with the Bootstrap board. Bootstrap is a nonprofit entity that oversees ECC. Swihart described the situation as a case of constructive discharge. He said working conditions changed to a point where continued employment was not viable.

Swihart stated that the majority of the Bootstrap board became misaligned with the ZCash mission. He named Zaki Manian, Christina Garman, Alan Fairless, and Michelle Lai as board members involved in the dispute. He referred to the group as ZCAM. The conflict centered on changes to employment terms and limits placed on ECC’s operational autonomy.

According to Swihart, board decisions restricted roadmap execution and weakened developer independence. He said the environment made it impossible to perform duties with integrity. Developers characterized the governance actions as hostile. They said the structure prevented effective long-term planning for ZCash. The dispute ended with the full team leaving ECC at once.

The resignation followed earlier leadership changes within the ZCash ecosystem. Project founder Zooko Wilcox stepped down as ECC chief executive in December 2023. Swihart later assumed the role. In January 2025, Peter Van Valkenburgh departed his role on the Zcash Foundation board. ECC also announced internal restructuring in December 2025.

ZCash Growth and Governance Drive New Company Formation

Swihart outlined three reasons for creating a new ZCash-focused company. He said ZCash is rooted in cypherpunk values. That requires an organization built around privacy-first principles. He also said privacy in crypto should be treated as normal. He compared it to privacy in physical cash. He argued that defending those rights requires speed and alignment.

The second reason involved structure. Swihart said nonprofit foundations often clash with startup-style development. He noted that similar conflicts have affected other cryptocurrency projects. He argued that startups can scale quickly. Nonprofits, he said, face structural limits. The third reason was ZCash’s growth. He said the network is no longer a small project.

Market data showed mixed signals during the transition. According to available data, ZCash development activity recently fell to its lowest level since November 2021. The decline occurred as ZEC retraced about 40% over two months. Despite that pullback, ZCash’s market value increased roughly fifteen times between late September and mid-November 2025.

The price surge brought renewed attention to ZCash in late 2025. As of press time, ZCash is trading at $432.47, up by 11.30% over the past day. The launch of cashZ now places future development under a new structure. The former ECC team has indicated that ZCash remains its sole focus.