Zcash has recently encountered a major issue. Almost the entire core development team of Electric Coin Company (ECC) has resigned, and this move has directly shaken the market.

What is the cause of this? Essentially, it stems from serious disagreements between the board of directors and management over governance and employment terms. This is not a minor dispute—it's the entire development team deciding to leave collectively. Once the news broke, the price of ZEC immediately suffered, dropping over 7% within 24 hours.

ECC CEO Josh Swihart later issued a statement clarifying that this was not an active resignation—it's a forced departure. He explicitly stated that certain actions by some board members have gone off track, deviating from Zcash's original mission of privacy finance. Worse still, recent management decisions have directly altered employment relationships, making it impossible for the development team to continue their work.

However, Swihart also emphasized an important point. Although the team is leaving, they plan to establish a new company, with the core still being this group of people, and their goal remains unchanged—to continue building the strongest privacy finance products. He also clarified that this personnel turmoil will not affect the normal operation of the Zcash protocol itself.

That said, the reaction from the capital markets has not been gentle. Investors are clearly a bit confused by this news. ZEC plummeted over 7% in 24 hours, and market concerns mainly focus on whether the departure of the core development team will have a real impact on the project's future iterations. This uncertainty alone is enough to put pressure on the coin's price.