Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Today in crypto: Zcash’s nonprofit backer Bootstrap said governance tensions stem from nonprofit limits on outside investment, following a split with Electric Coin Company, Wyoming launched its state-backed FRNT stablecoin to the public, and Ripple Labs’ president has again ruled out an initial public offering (IPO) by the company.
Bootstrap, the nonprofit that supports the privacy-focused cryptocurrency Zcash, said a recent governance dispute that led to the departure of key board members stemmed from the legal limits nonprofits face when seeking outside investment.
The comments follow the decision by the Electric Coin Company, the main development team behind Zcash (ZEC), to separate from Bootstrap and form a new company. ECC cited concerns over what it described as “malicious governance actions,” Cointelegraph reported Thursday.
