Zcash price hits $1,280 as grant dispute with ZCG prompts large holder revolt

Zcash experienced heightened volatility in late October as its price reached $1,280, coinciding with an escalating dispute over the distribution of community grants. Tensions emerged between large coinholders and the Zcash Community Grants (ZCG) committee regarding the management of funds drawn from miners’ block rewards and the extent of coinholder influence on budget decisions. The disagreement intensified after ZCG introduced the Adoption Pool, an initiative aimed at providing grants to projects supporting vulnerable and unbanked populations, such as refugees. ZCG, tasked with distributing a portion of miners’ block rewards, allocated multimillion-dollar budgets without direct coinholder votes, triggering concern among major holders over transparency and governance.

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