Wu said that on January 8, Zcash core developer Electric Coin Company (ECC) CEO Josh Swihart stated that because the non-profit organization Bootstrap, which is responsible for governing ECC, has shown a "significant deviation" from the governance direction of Zcash, the ECC team has recently left the original structure as a whole and plans to establish a new company.

He pointed out that in the past few weeks, the decisions of the majority of Bootstrap's board members have no longer been consistent with the original intention of Zcash, and the ECC team was forced to resign collectively when employment conditions were unilaterally changed. He emphasized that the new company will be formed by the original team, with the same mission, still committed to creating an "unstoppable privacy currency." He also stated that this incident does not affect the Zcash protocol itself, and is a conflict at the governance level, not a technical or protocol split.