The most ironic thing is: during periods of governance uncertainty, the network has never gone down, and the resilience of decentralization is more convincing than compliance statements.

The SEC concluded its investigation into the Zcash Foundation, causing the ZEC price to rise 10% to $564.30. The investigation, which began in August 2023, has now ended, with no enforcement actions recommended, increasing clarity on governance, network infrastructure, and future upgrades. The first quarter of 2026 was one of the most active periods in the Foundation's history, and the network continued to operate normally during the period of governance uncertainty. As of March 31, the Foundation's liquid assets were approximately $36.7 million, holding 85,412 ZEC, 41.8 BTC, and about 506,600 USDC.