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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
An unknown wallet transferred 979 BTC to Coinbase Institutional.
According to data from Bijie.com: Whale Alert monitoring shows that 979 BTC (approximately $78.4288 million) has just been transferred from an unknown wallet to a Coinbase institutional account.
Meta Platforms expands $25 billion stock offering, with subscription demand reaching 5 times
Meta Platforms' expanded $25 billion stock offering drew subscription demand of about 5 times the number of shares available for subscription. The company is planning to raise $98 billion in funding for spending in the field of artificial intelligence. In this common stock offering, more than half of the shares were allocated to long-term holders and existing shareholders, and the top 15 investors by subscription size together received about 70% of the offered shares. The offering was priced at $625 per share, a 2.7% discount to the previous Friday's closing price before the offering was announced. On Tuesday, Meta's stock fell as much as 1.4% to $621.47 per share in the New York market. This stock offering is only part of Meta's financing plan, which also includes the issuance of $12.5 billion in mandatory convertible preferred stock and an at-the-market equity offering program expected to be launched. If the final fundraising size reaches $98 billion, this will become one of the largest equity financing plans in history.
Boeing will be unable to meet its target of 500 deliveries this year.
CoinWorld news, according to Gelonhui, Boeing will be unable to meet its delivery target of 500 aircraft this year.
The 4-hour trading volume ratio of BTC contracts to spot is 9.32.
CoinWorld data: Over the most recent 4 complete hours, BTCUSDT perpetual contract trading volume was 9.32 times spot trading volume. Compared with the same-caliber snapshot 24 hours earlier, it rose by 1.8701; compared with the same-caliber snapshot 7 days earlier, it rose by 2.7772.
Boeing CEO: 787 deliveries expected to approach 90 this year.
CoinWorld news, Boeing (BA.N) CEO said that 787 deliveries are expected to approach 90 aircraft this year.
The Romanian Ministry of Foreign Affairs condemns Russia's systematic attacks on commercial vessels in the Black Sea.
Romanian Ministry of Foreign Affairs condemns Russia's systematic attacks on commercial vessels in the Black Sea, according to CoinWorld.
Meta shares fell 1.4% as it plans to raise $95 billion through an equity offering.
According to CoinWorld news, Meta's stock fell 1.4% to $621.47. The company has launched a public equity offering of approximately $35 billion and plans to raise up to an additional $60 billion through an at-the-market offering program targeting a new non-voting Class C stock, to support investments in AI infrastructure and personal superintelligence.
Meta's $25 billion stock offering was 5 times oversubscribed.
CoinWorld news: Meta Platforms' (META.O) expanded $25 billion stock offering drew demand of about five times the number of shares available for subscription. The company plans to raise $98 billion in funding for spending in the field of artificial intelligence. In this common stock offering, more than half of the shares were allocated to long-term holders and existing shareholders, and the top 15 investors by subscription size together received about 70% of the offered shares. The offering was priced at $625 per share, a 2.7% discount to the closing price last Friday before the offering was announced.