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More →Zcash co-founder calls to stop funding ‘over $125M’ grants program
Sean Bowe says ZCG has enough money to keep funding projects and wants its share of new ZEC redirected to a reserve for the network. Zcash co-founder Sean Bowe proposed ending the automatic funding stream to Zcash Community Grants (ZCG), saying its treasury was large enough to continue funding projects without further automatic payments. “ZCG has over $125M in funding, and will receive millions more before the spigot is turned off,” Bowe <a href="https://x.com/ebfull/status/2114911107718742451" rel="nofollow noopener" target="_blank">>said</a> Tuesday on X. “The program was never designed to handle this amount of funding.” Bowe shared a draft GitHub <a href="https://github.com/zcash/zips/blob/end-zcg-stream/zips/draft-bowe-end-zcg-stream.md" rel="nofollow noopener" target="_blank">>proposal</a> that would redirect ZCG’s 8% share of the Zcash (ZEC) block subsidy to the network’s sustainability reserve, while leaving its existing funds untouched. The allocation would flow to the Network Sustainability Mechanism until the current funding period ends in 2028. The mechanism is designed to hold ZEC out of circulation and gradually reissue it through future block rewards. In September, Haseeb Qureshi, managing partner at crypto venture capital firm Dragonfly, proposed ending the <a href="https://cointelegraph.com/news/dragonflys-qureshi-end-zcash-dev-fund-2028" target="_blank" rel="nofollow">Zcash developer fund</a> when its current funding period expires, saying that it risks being “politicized” as it approaches $100 million in value. ZCG’s dashboard <a href="https://zcashcommunitygrants.org/" rel="nofollow noopener" target="_blank">>listed</a> 91,453 ZEC and $8.8 million in cash as of Wednesday, with $2.4 million in outstanding grant commitments. The ZEC holdings alone were worth about $111 million at press time. The network’s separate development lockbox <a href="https://zecstats.org/shielded" rel="nofollow noopener" target="_blank">>held</a> 72,351 ZEC, worth roughly $89 million, according to ZecStats. <em><strong>Related: </strong></em><a href="https://cointelegraph.com/news/prediction-markets-17b-robinhood-exceed-crypto-revenue-2028-bernstein" target="_blank" rel="nofollow"><em><strong>HOOD’s prediction markets to add $1.7B to revenue, exceed crypto by 2028: Bernstein</strong></em></a>
Zcash Co-founder Sean Bowe Proposes Ending ZCG Funding Stream, Citing $125M Treasury
Zcash (ZEC) co-founder Sean Bowe proposed on Monday to end the 8% block reward share paid to Zcash Community Grants (ZCG), saying the program already holds over $125 million. Bowe filed the change as a draft Zcash Improvement Proposal (ZIP) that would send that reward share to the Network Sustainability Mechanism (NSM) until the stream’s scheduled end. That mechanism withholds the coins from issuance and starts paying them back out as block rewards in February 2031. Under the draft, ZCG would keep its existing treasury and could still approve grants from it. “The program was never designed to handle this amount of funding,” Bowe wrote on X. It’s time to turn off the ZCG funding stream. ZCG has over $125M in funding, and will receive millions more before the spigot is turned off. The program was never designed to handle this amount of funding. — Sean Bowe (@ebfull) <a href="https://x.com/ebfull/status/2114911107718742451?ref_src=twsrc%5Etfw" rel="nofollow" target="_blank">October 27, 2026</a> Bowe’s figure comes from a dashboard linked on ZCG’s website. It listed 91,453 ZEC and $8.8 million in cash at an October 21 block. Approved grants still unpaid came to $2.4 million. Bowe valued the coins at $1,300 each to reach $125.3 million. The same dashboard counts another 110,049 ZEC due to ZCG before the stream ends on November 24, 2028. According to the draft ZIP, at the dashboard’s price of $1,241.61, those coins are worth $136.6 million, more than the program holds now; and, according to a Financial Privacy Foundation report, ZCG spent $1.53 million in the first quarter of 2026 <span>against that intake</span>. The stream adds 144 ZEC a day, which Bowe put at $68.3 million a year at the same coin price. Bowe’s draft landed alongside other proposals on the Zcash forum. For instance, Maxime Desalle’s proposal would also send ZCG’s remaining treasury to the NSM. Desalle cited a February coinholder vote in which 98.6% opposed Zcash Shielded Assets. ZCG approved another $455,000 for Shielded Assets work in June, he said. Turnout was 7.25% of circulating ZEC, per the Zcash Foundation. In June, ZCG approved $455,000 for a QEDIT test network covering Shielded Assets and other deferred features, its minutes show. Josh Swihart, founder and CEO of Zcash Open Development Lab (ZODL), said: “It’d be a mistake to kill only one part of the dev fund.” He added the 12% Coinholder-Controlled Fund, which accrues about 216 ZEC a day, should end too. Swihart’s company is the one former Electric Coin Company staff <a href="https://cryptopotato.com/zcash-governance-crisis-forces-full-exit-of-electric-coin-company-staff/" rel="nofollow" target="_blank">formed</a> after a governance dispute. Responding to Swihart’s plan, Bowe wrote that he would also personally back a separate proposal to strip ZCG’s existing treasury. Ian Miers, one of Zcash’s founding scientists, objected to the NSM as the destination, stating that the reserve ultimately pays miners and could
Michael Saylor: AI and Bitcoin are complementary.
CoinWorld news, according to Cointelegraph, Michael Saylor stated that artificial intelligence and Bitcoin are complementary. He noted: "Artificial intelligence creates abundance, while Bitcoin preserves scarcity. The world needs both."
Reuters poll: Global high inflation to persist into next year
According to a Reuters survey, the high inflation trend in the global economy will persist into next year. Economists are increasingly concerned that, in addition to rising energy costs caused by the Middle East conflict, upward pressure on prices may become entrenched. Since last year, global investment in the AI sector has exceeded $1 trillion. Most central banks had previously raised interest rates only a few times, or not at all, but if inflationary pressure spreads further, more central banks may take rate-hiking action in the future. In recent months, global bond markets have suffered a sell-off, pushing yields higher and thereby tightening financial conditions. Since October 7, crude oil prices have remained above $100 per barrel; since the outbreak of the Middle East conflict about eight months ago, oil prices have risen by more than 60% in total. A Reuters survey this month of more than 500 economists worldwide found that, among the 50 economies surveyed, economists raised their 2027 inflation forecasts for 31 of them and raised their economic growth forecasts for 23. Among the 21 developed economies covered by the survey, economists raised their 2027 inflation forecasts for 15 of them. This indicates that inflation concerns are spreading and beginning to affect economies that typically have lower price pressure.
The protocol reported revenue of $38.0533 million over the past 24 hours.
CoinWorld data: During the period, the protocol's revenue over the past 24 hours was $38.0533 million, an increase of 8.24% compared with the previous statistical period under the same methodology.
JetBlue shares rise 14% as company outlook reassures investors
Coin World news, according to CNBC, JetBlue Airways shares rose 14% as the company's outlook reassured investors. JetBlue is implementing a plan aimed at cutting costs and increasing premium revenue.
Jingwang Electronics: Supply of high-performance PCBs for the AI computing sector remains tight.
According to a CoinWorld report, Jingwang Electronics stated during an institutional research visit on October 26 that customer projects in the AI computing power sector are still advancing at a relatively fast pace, and delivery schedules for high-end products are very tight. At the same time, the process difficulty brought by product iteration and upgrading in the AI computing power sector has increased significantly, placing higher demands on PCB manufacturers' process technology capabilities, fine management and control capabilities, and first-pass product yield, while high-end capacity supply is relatively limited. Overall, demand remains strong, while supply is constrained by product upgrades and the pace of capacity ramp-up. The supply of high-performance PCBs in the AI computing power sector remains tight, and the company is making every effort to advance capacity release and ensure delivery.
The U.S. military refutes Iran: has not withdrawn from the Strait of Hormuz and remains on alert in the surrounding area.
CoinWorld news, U.S. Central Command: The commander of the Islamic Revolutionary Guard Corps Navy recently claimed that U.S. forces have withdrawn from the Strait of Hormuz and retreated several hundred "kilometers." This claim is false. The actions of the commander of U.S. Central Command over the weekend demonstrate that U.S. forces deployed in the Middle East remain present and on alert in the Strait of Hormuz and surrounding waters. U.S. forces and their regional partners jointly control this international waterway—not Iran.
Reuters poll: 2027 inflation forecasts raised for 31 economies
Reuters survey shows economists raised their 2027 inflation forecasts for 31 of 50 major economies.
The VVIX volatility index stands at 101.43 points.
CoinWorld US stock data: The VVIX volatility index closed at 101.43 points. Compared with the same-caliber snapshot 7 days ago, it fell by 5.5 points.