The Zcash Foundation’s first-quarter results are out, and while they appear promising, there are still some unsettling aspects.
According to Q1 2026, the Zcash Foundation (ZF) reported that it had $36.69 million in liquid assets at the end of the 31st of March, which included $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.
Remarking on this, in the executive summary, Executive Director Alex Bornstein said,
This quarter proved what decentralization is supposed to deliver: continuity through change, resilience through distribution, and progress through community.
Zcash Foundation vs. other nonprofit crypto organizations
Nonetheless, ZF’s operating expenses in Q1 averaged $817,000, or $272,539 per month. This is quite less as compared to other non-profit crypto firms.
For instance, the Avalanche Foundation is reportedly hoping to raise $1 billion for the crypto DATs.
The Uniswap Foundation has also set aside at least $106.2 million for grants and incentives earlier this year and an additional $26.3 million for operating expenses and employee token awards through January 2027.
Regulatory clarity
Furthermore, ZF was happy to report that the U.S. Securities and Exchange Commission had wrapped up its investigation into the Zcash Foundation and had not recommended any enforcement action.
For those unaware, the SEC notified the Foundation that it has no plans to take any enforcement action in relation to the inquiry, which started with a subpoena in August 2023.
ZEC mixed market dynamics
This occurred as $ZEC was trading at $584.26 following a rise of 4.37% over the previous day and more than 87% over the previous month.
As AMBCrypto previously reported, Zcash price action has also been different from the market turbulence and is aiming for a local high of $600 next.
However, the drop in Social Dominance and Social Volume suggests that the investors confidence has still not reached the levels seen back in November 2025.
Additionally, with the Crypto Fear and Greed Index still lying in the “Fear” zone, it remains to be seen what happens in the next Q2 2026.
Final Summary
- A sizable portion of the treasury still linked to ZEC holdings paints Zcash Foundation’s confidence in the $ZEC long-term rally.
- With the U.S. SEC formally concluding its investigation without suggesting enforcement action, ZF also achieved a significant regulatory win.
