Zcash surges as core development team closes $25 million funding round
Zcash rose 3% after its core development entity, ZODL, secured over $25 million in a funding round.Summary
Zcash (ZEC) experienced a 3% price increase following the announcement that the Zcash Open Development Lab (ZODL) successfully closed a funding round exceeding $25 million. The round saw participation from major crypto investors, including Paradigm, a16z crypto, Winklevoss Capital, and Coinbase Ventures. ZODL was founded in early 2026 by Josh Swihart, former CEO of Electric Coin Company, to continue developing the Zcash protocol and its primary user applications, such as the Zodl wallet (formerly Zashi). The funding is intended to support hiring engineers and expanding ZODL's role in the ecosystem, ensuring continued development on both the protocol and wallet layers. This institutional backing signals renewed interest in privacy-preserving technologies, as evidenced by the Zcash shielded pool expanding over 400% since 2024 and the wallet facilitating over $600 million in ZEC swaps since October.
(Source：Crypto Briefing)