Report: Electric Coin Company cuts spending amid market pressures

Zcash ($ZEC) developer Electric Coin Company cut back on spending amid declining Zcash prices in Q1 according to the company's Q3 2019 transparency report. During the quarter average monthly income, which ECC receives from the Zcash founders reward, was $449,000 per month while expenses were $635,000. Because of this deficit the company cut back on "PR, trademark protections, engineering, event sponsorships and other non-critical activities" and tap into its reserves which now stand at ~$6.4 million in USD and ZEC. Because the ECC relies on the founders reward its future is uncertain after the reward expires in October 2020. A number of proposals have been submitted that would ensure continued funding for ECC development but the future of the firm remains unclear.

Read the full report here.