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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
Fitch Ratings: AI investment is the main growth driver for the U.S. credit outlook
CoinWorld news, Fitch Ratings said that AI investment remains the main growth driver for the U.S. credit outlook, while also being a key downside risk.
Fitch: AI investment is the main growth driver and key risk for the U.S. credit outlook.
Fitch stated that AI investment remains the main growth driver for the U.S. credit outlook, while also being a key downside risk.
The U.S. 2-year Treasury yield is at 4.69%.
CoinWorld US stock market data: The latest daily reading of the US 2-year Treasury yield is 4.69%. Compared with the same-caliber snapshot 7 days ago, it is down 0.05 percentage points.
Pump.fun adds TON ecosystem token purchase feature, supports USDC payments
According to CoinWorld news, the Pump.fun app now supports purchasing TON ecosystem tokens, and users can complete transactions directly using their USDC balance without the need for manual cross-chain transfers or switching wallets.
General Motors (GM) extends its rally, now up 6.2% for its biggest gain in nine months.
According to Bijie.com, General Motors (GM) extended its rally and is now up 6.2%, marking its largest gain in nine months.
Boeing shares fell 9.2%, hitting an 18-month low.
According to Bijie.com, Boeing's stock price fell 9.2%, hitting a new intraday low in the past 18 months.
Boeing shares fell 5.6%, hitting their lowest level since November 25 last year, Cailian Press reported on October 27.
CoinWorld news, Cailian Press, October 27: Boeing shares fell 5.6%, hitting their lowest level since November 25 last year.
The Bank of Canada may ignore weak economic data to guard against inflation risks.
Bank of Canada may ignore weak economic data to address inflation risks, according to Biji.com. Ali Jaffery, chief economist at KPMG Canada, said that although he does not support a Bank of Canada rate hike on Wednesday, he believes the move would "not count as a policy mistake." He noted that despite falling Canadian employment and weakening market sentiment, the Bank of Canada still appears determined to preemptively address inflation risks stemming from persistently high crude oil prices. If the Bank of Canada raises rates by 25 basis points first and then hikes once more, the policy rate will remain within the central bank's estimated neutral rate range. Jaffery said rate hikes could prolong Canada's economic slowdown, but added that Bank of Canada officials may believe there are still enough favorable factors in the economy to support continued growth.