Zcash Governance Rift Exposes Nonprofit Limits

[nihalsari]

Bootstrap, the nonprofit supporting the privacy-focused cryptocurrency Zcash, said a recent governance dispute stemmed from the legal constraints nonprofits face when pursuing outside investment. The comments followed the decision by Electric Coin Company to split from Bootstrap and form a new, independent company.

According to Bootstrap, board members explored options for external investment and alternative structures to potentially privatize Zashi, the self-custodial Zcash wallet launched in early 2024. Those discussions, the nonprofit said, were conducted with legal counsel to ensure compliance with US nonprofit law and alignment with Zcash’s long-term mission.

[tradelikepro]

ppl really underestimate how constrained 501c3s actually are