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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
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.
The U.S. overnight financing rate was reported at 3.93%, the largest spread in nearly two months.
On the previous trading day (October 26), the secured overnight financing rate (SOFR) was reported at 3.93% (compared with 3.92% the day before), 3 basis points above the current 3.90% interest rate on excess reserves (IORB), matching the widest spread since August 31. The effective federal funds rate was reported at 3.88%, unchanged from the previous day. New York Fed data showed that, as a large volume of U.S. Treasury auction settlements and the year-end fiscal year-end settlement of Canadian banks combined to push up financing rates, a key rate benchmark linked to overnight repurchase agreements rose further above the Fed's IORB, hitting the widest spread in nearly two months. Other repo rates - the tri-party general collateral rate and the broad general collateral rate - both rose from 3.90% to 3.91%, 1 basis point above the IORB. TreasuryDirect data showed that U.S. Treasury auction settlements will net raise $41 billion in Treasury bills on Tuesday, about $4 billion on October 29, and $26 billion on October 30. The combination of strong settlement deliveries and Canadian bank year-end settlement has already begun to drive an increase in sponsored repo activity.
Analyst: Anthropic warns that energy bottlenecks and rising costs could slow AI business expansion.
CoinWorld news: Anthropic warned in its IPO prospectus that difficulties in power supply, rising energy costs, and delays in infrastructure construction could slow the expansion of its AI business. The company expects energy expenditures to increase, and power procurement, regulatory approvals, and construction delays could affect data center construction. Anthropic disclosed that even if the relevant facilities are not put into operation or the delivery of power supply capacity is delayed, the company may still bear the related costs, and tight supply of power equipment and rising project financing costs could also push up operating expenses.
Anthropic plans to partner with SpaceX on $120.5 billion in computing capacity.
CoinWorld news, Yahoo Finance reports that Anthropic plans to partner with SpaceX, investing $120.5 billion in computing power. If its first financial report as a public company is disappointing, it could lead to a pullback in SpaceX's stock price.
JetBlue shares rose 20%, marking their largest single-day gain since April 2025.
According to CoinWorld news, JetBlue (JBLU) shares rose 20%, marking the largest single-day gain since April 2025.
Broadcom reaches $63 billion AI chip financing deal with multiple financial institutions
According to CoinWorld news, on Tuesday, U.S. semiconductor stocks rose in early trading, with Broadcom (AVGO.US) up nearly 5%, AMD (AMD.US) up over 4%, and Intel (INTC.US) up over 3%. Broadcom announced that it has reached a $63 billion deal with Bank of America, Blackstone, Citigroup, and Morgan Stanley to provide financing for the AI startup Anthropic to purchase chips. The deal is seen by the market as an important endorsement of institutional capital's confidence in AI infrastructure investment.