The entire Electric Coin Company team, comprising about 25 members including the CEO, resigned from its role connected to Zcash on January 7 following a dispute centered on plans to privatize the Zashi wallet. The news led to an immediate market reaction, with ZEC falling approximately 20%. Departing team members announced plans to release a new wallet, named CashZ, within weeks, built using the Zashi codebase. Despite the resignations, there was no indication that the Zcash protocol itself was technically affected.