The Daily: ZEC drops as Zcash developer team at ECC quits, spot XRP ETFs see first net outflows since launch, and more
The Zcash developer team at ECC resigned after a board clash, causing ZEC to drop, while spot XRP ETFs saw their first net outflows.Summary
The Zcash developer team at Electric Coin Company (ECC) resigned on January 7 following irreconcilable differences with the parent nonprofit board, leading to a more than 15% drop in Zcash (ZEC) price, allowing Monero (XMR) to briefly surpass it as the largest privacy coin. The departing developers plan to form a new company and build a new Zcash wallet. In other market news, U.S. spot XRP ETFs experienced their first net daily outflows since launch, totaling $47.3 million in redemptions, coinciding with modest outflows in Bitcoin and Ethereum ETFs amid profit-taking after recent rallies. Additionally, Kalshi CEO Tarek Mansour endorsed a bill banning insider trading on prediction markets, and World Liberty Financial applied for a U.S. bank charter to fully onshore its USD1 stablecoin. Chainalysis reported that crypto crime reached a record $154 billion in 2025, largely driven by state-backed actors.
(Source：The Block)