Electric Coin Company, the parent company of Zcash, announced a major restructuring at the end of last year — this was a real organizational change, not some negative news.

The key changes include:

First, ECC will transform into two independently operated non-profit organizations, continuing to promote development at the Zcash protocol layer. Second, and more notably, is the change on the funding side — the approximately 57% of ZEC development reserves originally managed by ECC (which accounts for a large portion of the total) will now be managed by the community-led Zcash Ecosystem Autonomous Organization (ZEDA).

How does the market view this? Because it involves "large institutions shifting to decentralized governance" and "massive token flow changes," many people initially panicked, interpreting it as a negative signal. This led to a wave of selling, and the token price also experienced adjustments.

In simple terms, this is a microcosm of the crypto ecosystem moving toward community autonomy — transitioning from a centralized foundation to a distributed DAO governance. While there may be fluctuations under this new model, in the long run, this evolution actually enhances the project's resilience and decentralization. $BTC