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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>
Brazil’s Stock Market Crashes After Lula’s Upset Victory
Brazil’s stock market lost more than $200 billion in value at the open on Monday after President Luiz Inácio Lula da Silva beat Senator Flávio Bolsonaro in Sunday’s runoff, a result that prediction markets had priced at roughly a one in five chance. The iShares MSCI Brazil ETF, ticker EWZ, a basket of Brazilian stocks that trades in New York like a single share, fell as much as 26% from Friday’s close of about $42.60, touching $31.40 before trimming the loss to about 23% at $32.84 by 10:38 a.m. ET. That is memecoin-sized volatility for a fund built around Brazil’s biggest companies, and it leaves EWZ roughly where it started 2026 after a 34% gain through Friday. The dollar rose as much as 12% against the real on Friday, while the Ibovespa, Brazil’s benchmark stock index, fell as much as 17% to about 170,000 points. For a dollar-based investor, those moves at their worst combine to a loss of about 26%, in line with the ETF’s low. B3, the São Paulo exchange, halted trading for 30 minutes after the Ibovespa fell 10% from Friday’s close, its first circuit breaker since the COVID-19 pandemic. A circuit breaker is an automatic pause meant to slow panic selling, but the index kept sliding after trading resumed. Investors had been positioning for the opposite result since Bolsonaro unexpectedly finished first in the Oct. 4 first round, with 47.03% of valid votes to Lula’s 45.16%. The Ibovespa jumped 7.85% the next day and EWZ gained more than 10% on bets that Bolsonaro would tighten public finances and open the way to lower interest rates. Monday’s drop erased that rally and, at its lows, left the Ibovespa about 11% below its Oct. 2 close. But Lula didn’t just beat Bolsonaro, he also beat prediction markets. Polymarket gave Bolsonaro an<a href="https://x.com/Polymarket/status/2114003200017575948" target="_blank" rel="nofollow external noopener" class="sc-adb616fe-0 dJryYS">> 82% chance</a> of winning the day before the vote, and Kalshi had him near 80% on Sunday morning. Both platforms are<a href="https://decrypt.co/resources/what-are-decentralized-prediction-markets-myriad-polymarket-kalshi" target="_blank" class="sc-adb616fe-0 dJryYS" rel="nofollow"> prediction markets</a>, where a contract that pays $1 if a candidate wins trades at 80 cents when traders see an 80% chance. Polling pointed to a coin flip rather than a favorite, with the latest Datafolha survey tied at 50% each among valid votes and CNT/MDA showing Bolsonaro ahead 50.5% to 49.5% in mid-October. Lula won 51.79% to 48.21%, a margin of about 4.4 million votes, according to Brazil’s Superior Electoral Court. Bolsonaro said on Sunday night that he does not recognize the result and will ask the courts to annul the election, after pledging in August to respect the outcome. He objected to Supreme Court Justice Cristiano Zanin’s decision to extend voting until 7 p.m. at the request of Lula’s campaign, which he said changed the rules midgame. His own campaign had separately asked for extr
U.S. stocks pre-market news: Musk says robots' memory demand exceeds other sectors
CoinWorld news, Cailian Press, October 27 - The U.S. stock market financial news that investors need to pay attention to is as follows: 1. The three major U.S. stock index futures rose collectively, with Dow futures up 0.28%, S&P 500 futures up 0.36%, and Nasdaq 100 futures up 0.59%. 2. International oil prices edged lower, with WTI crude oil futures down 0.80% at $100.943 per barrel, and Brent crude down 0.51% at $110.176 per barrel. 3. International spot gold and silver showed mixed movements, with spot gold up 0.15% at $4,023.17 per ounce, and silver down 0.80% at $53.52 per ounce. 4. Musk stated that robots' memory consumption will crush existing computing devices. 5. Meta and Nvidia are expanding cooperation on the Muse model. 6. TSMC is considering raising prices for advanced packaging services by 10% to 20%. 7. General Motors will begin trading on the Nasdaq on November 17, continuing to use the "GM" ticker symbol. 8. The Bank of Korea warned that if U.S. tech giants slow AI infrastructure investment, South Korea's semiconductor exports could decrease by $50 billion to $100 billion.
Boeing shares turn down 2.4% in premarket trading.
According to CoinWorld news, Boeing (BA.N) shares turned lower in pre-market trading, falling 2.4%.
German Chancellor Merz: Russia and the US cannot resolve the war without Ukraine and Europe.
German Chancellor Merz said on Tuesday that the United States and Russia are trying to end the war in Ukraine, and that "it is absolutely impossible to find a solution without Ukraine's participation." He stressed that any negotiations must also involve European countries. He said that when the war ends depends on only one person: "As long as he (Putin) is unwilling to end the war, we will continue to support Ukraine." He stressed that what Europe is defending is not only Ukraine's territorial integrity, but also "the political order of the entire European continent." Merz advocated that Russia, Ukraine, the United States, and European countries should all participate in negotiations, while warning that a situation in which the war is ended without Ukraine's participation should not arise. Merz disclosed that Germany and other European countries are working to establish a mechanism for dialogue with the Russian government, and mentioned that Norway and Finland have played a "very constructive role" in this process.
Microsoft, Amazon, and Google may spend $600 billion on AI this year.
According to CoinWorld news, Microsoft, Amazon, and Google may invest nearly $600 billion in artificial intelligence in 2026, and as cloud computing growth accelerates, investors are questioning the returns on AI investment. These three tech giants are spending enormous sums to build AI infrastructure. This week, investors will focus on whether their cloud businesses are growing fast enough to justify these costs. According to analyst forecasts, Google Cloud's revenue for the September quarter is expected to grow 95.1% year over year, Microsoft's Azure business is expected to grow 47.7%, and Amazon Web Services (AWS) may expand 38.2%. However, these companies must build expensive infrastructure before meeting demand. Amazon is expected to spend about $220 billion in 2026, Google parent Alphabet's investment plan is close to $195 billion to $205 billion, and Microsoft's spending may reach about $175 billion.
Santoli: AI trading is about to reach a critical moment.
CoinWorld news, CNBC's Santoli said that AI trading is about to usher in a critical moment, which may be the last chance for a rebound.
Solana Foundation VP of Technology: The blockchain industry is undergoing consolidation
According to a CoinWorld report, Jacob Creech, Vice President of Technology at the Solana Foundation, stated in a post that the blockchain industry is undergoing consolidation, with applications gradually migrating to infrastructure capable of handling the largest transaction volumes, continuously improving capacity, and possessing institutional-grade security. He believes that Solana is the only blockchain network that meets these requirements for critical financial infrastructure. Creech then said that projects interested in migrating to Solana are welcome to contact him directly, whether they are L1s, L2s, or applications running on blockchains whose development is struggling; Solana has the capability to support their operations.
UPS CEO: Healthcare revenue exceeds $3 billion for the third consecutive quarter.
CoinWorld news, Reuters reported that the UPS CEO stated that the company's healthcare revenue exceeded $3 billion for the third consecutive quarter, with year-over-year growth achieved in every market segment.