{
  "id": 8236211,
  "title": "Dragonfly’s Qureshi calls for end to Zcash dev fund after 2028",
  "url": "https://urgent.news/2026/09/18/dragonflys-qureshi-calls-for-end-to-zcash-dev-fund-after-2028",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-18T11:22:24.000Z",
  "source": {
    "name": "Cointelegraph",
    "slug": "cointelegraph",
    "url": "https://cointelegraph.com/news/dragonflys-qureshi-end-zcash-dev-fund-2028"
  },
  "original_language": "en",
  "account": "Crypto venture capital firm Dragonfly’s Haseeb Qureshi has called for the termination of the Zcash developer fund after it reaches its expiration date in 2028, according to a Friday X post. The ZEC token’s recent value surge above $95 million prompted industry speculation about the fund's future. Dragonfly’s Qureshi argued that the fund, currently valued at approximately $95 million, is sufficient to complete remaining Zcash development and cautioned that it might become \"politicized\" as it nears $100 million in value. The Zcash development fund has held 63,962 Zcash (ZEC) tokens, worth about $95 million, as of press time. A recent industry debate emerged following the fund's growing value, attributed to the ZEC token's rally. Some, including Paradigm founder Matt Huang, have defended the fund's importance, especially in the context of AI cyber capabilities and rapid progress in quantum computing. Zcash pools, including the development fund, operate as a lockbox that accrues ZEC tokens per block under the NU6 upgrade, with 12% of the block subsidy directed towards the fund. The fund's balance remains outside circulation until governance disbursement. The debate also extends to who should control the development fund. Dragonfly’s Qureshi suggested that control should not shift to \"pure token holder voting\" but showed support for a partial model with token holders electing temporary councils. Huang agreed with this approach, advocating for a hybrid governance model that combines various forms of governance to prevent unpredictability and potential trust issues for Zcash as a monetary asset. Maxime Desalle, an investment analyst at Winklevoss Capital, proposed completely eliminating the development fund to resolve governance disputes, while Zcash founder Zooko Wilcox emphasized the community grants committee's significant role in the protocol's growth and survival.",
  "summary": "Industry watchers are debating the fate of the Zcash development fund after the ZEC token’s rally pushed its value above $95 million.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}