Gemini Co-Founder: Zcash Does Not Need to Redesign Its Governance Mechanism; Its Core Mission Is Privacy

Odaily: Cameron Winklevoss, co-founder of Gemini, posted on X stating that Zcash does not need to redesign its governance mechanism. Stakeholder voting mechanisms have been operating in capital markets for hundreds of years, and token holder voting is merely their on-chain form. He emphasized that experimental governance is not Zcash's mission—privacy is its core goal—and called for terminating Zcash Community Grants (ZCG) and the distractions and divergence of objectives it brings.

Previously, the Winklevoss brothers' Winklevoss Asset filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for the Winklevoss Zcash ETF. The ETF intends to directly hold ZEC, plans to list on Nasdaq under the ticker WINK with a fee rate of 0.25%, and Gemini Trust Company will serve as custodian.