The Zcash Foundation’s first quarter results are released and while they look promising, there are still some aspects that are concerning.
According to Q1 2026, Zcash Foundation (ZF) reported that it had $36.69 million in liquid assets as of the end of March 31, including $12.6 million in cash and $21 million in ZEC.
Additionally, ZF has $0.506 million in USDC, $2.85 million in BTC, and $25,299 in ETH.
Regarding this, in the summary, Executive Director Alex Bornstein said:
This quarter has proven what decentralization is supposed to deliver: continuity through change, resilience through distribution, and progress through community.
Zcash Foundation Compared to Other Nonprofit Crypto Organizations
Still, ZF’s first-quarter operating expenses averaged $817,000, or $272,539 per month. This is much less than other non-profit crypto companies.
For example, the Avalanche Foundation hopes to raise $1 billion for crypto DAT.
The Uniswap Foundation also set aside at least $106.2 million for grants and incentives earlier this year and another $26.3 million for operating expenses and token employee rewards through January 2027.
Regulatory clarity
Additionally, ZF was pleased to announce that the United States Securities and Exchange Commission has completed its investigation into the Zcash Foundation and has not recommended any enforcement action.
For those who are unaware, the SEC has informed the Foundation that it does not intend to take enforcement action in connection with the investigation, which began with a subpoena in August 2023.
Mixed market dynamics of the ZEC
This happened as $ZEC traded at $584.26 after rising 4.37% from the previous day and more than 87% from the previous month.
As AMBCrypto previously reported, Zcash’s price action has also been different from the market turmoil and is next targeting a local high of $600.
However, the decline in social dominance and social volume suggests that investor confidence has still not reached the levels seen in November 2025.
In addition, With the Crypto Fear and Greed Index still located in the “Fear” zone, it remains to be seen what happens in the next quarter of 2026.
Final summary
- A significant portion of the cash still tied to ZEC holdings demonstrates the Zcash Foundation’s confidence in the long-term $ZEC rally.
- While the US SEC officially concluded its investigation without suggesting enforcement action, ZF also achieved a significant regulatory victory.
