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More →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
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>
ENSv2 is officially live on the Ethereum mainnet, supporting upgrades of existing domains.
CoinWorld news: ENSv2 has officially launched on the Ethereum mainnet, introducing a hierarchical registry and permission model, supporting custom subdomain issuance rules and partitioned authorization management, and launching the ENS app and ENS explorer. The ENS ecosystem currently supports over 36 million domains, covering more than 600 applications. Existing .ETH domains do not need to be re-registered; users can voluntarily upgrade to ENSv2 within the ENS app, and after upgrading, they can claim a commemorative NFT designed by artist polyhop. Applications such as 1inch, MetaMask, Safe, Uniswap, PayPal, Venmo, and OpenSea have already adapted to ENSv2.
Goldman Sachs: Trend-following hedge funds suffer their worst week since 2024
According to a CoinWorld report, Goldman Sachs stated that trend-following hedge funds have experienced their worst week since 2024, driven by a decline in artificial intelligence stocks.
Vaneck launches a $200 billion ETF that includes Bitcoin investment.
Bitcoin Magazine reports that Vaneck has announced its newly launched $200 billion wealth-building ETF will include Bitcoin investments. The fund is designed to provide investors seeking simple, diversified exposure with access to Bitcoin.
Ant Group's Bailing open-sources Ling-3.1 enhanced version, with the 560B pre-trained base model released simultaneously.
According to CoinWorld news, Ant Bailing has officially open-sourced the model weights of ling-3.1-flash-1019, and has also released ling-3.1-flash-base. Both models are now available on Hugging Face and Modelscope under the MIT open-source license. The new version continues the mixture-of-experts architecture with 560B total parameters and 25B activated parameters, mainly strengthening reasoning and agent capabilities through post-training. The artificial intelligence index rose from 41 points in the old version to 44 points. The complex office task evaluation AA-briefcase improved from about 1400 to 1524 ELO, the software operation evaluation Automationbench-AA increased from 62% to 68%, and the physical reasoning test Critpt rose from 18% to 26%. The simultaneously released base model is published in BF16 precision, and developers can use it for continued pre-training, industry fine-tuning, or reinforcement learning.
The S&P 500 Tail Risk Index stands at 150.97 points.
Biji Network US stock market data: The S&P 500 tail risk index closed at 150.97 points. Compared with the same-caliber snapshot 7 days ago, it fell 10.89 points.
A whale opened a 25x ETH short position, holding 9,700 ETH.
According to a report from Bijie.com, on-chain analyst AI Yi stated that a whale address 0xaea…c2416 conspicuously opened a 25x leveraged ETH short position this evening, currently holding 9,700 ETH, worth approximately $22.46 million at current prices, with an entry price of $2,311.92 and a current unrealized loss of about $48,000. The whale set a take-profit level of $2,058.2 and a partial stop-loss level of $2,750.1.
Kraken launches CFB Oracle, introducing BlackRock Bitcoin ETF pricing data
Crypto news outlet CoinWorld reports that CF Benchmarks, under Kraken's parent company Payward, has launched CFB Oracle, bringing pricing benchmarks for BlackRock's Bitcoin ETF and CME Group cryptocurrency futures onto the blockchain. The service provides multi-market benchmark data, enabling developers to build on-chain index funds, tokenized portfolios, and derivatives. CF Benchmarks indices currently serve products representing over $120 billion in assets.
The outlook for the Federal Reserve's decision is drawing market attention.
According to CoinWorld news, analysts pointed out that the market is paying more attention to the Federal Reserve's future guidance and expect the Fed to hold steady this week, but it may raise rates again in December. Investors' interpretation of inflation trends and guidance on the future interest rate path may be more important. Recent remarks by Fed officials prompted investors to lower expectations for near-term rate hikes, but U.S. consumer and producer prices both rose in August and September, with higher energy prices being one of the main reasons. Jack Herr, senior investment analyst at Guidestone Funds, said inflation is clearly accelerating again, which may mean the Fed wants to observe changes in economic data after recent rate hikes, and he expects another rate hike may come this year.