Zcash rally draws criticism from F2Pool co-founder

F2Pool co-founder Chun Wang criticized Zcash on Sept. 8 as ZEC traded near $1,130 following a rally that carried the privacy coin into the cryptocurrency market’s top ten. Summary Zcash traded near $1,130 after gaining more than 2,300% during the previous twelve months overall. F2Pool co-founder Chun Wang criticized Zcash’s funding structure, governance history and optional privacy model publicly. Zcash allocated 20% of early block rewards through its original four-year Founders’ Reward system initially. Ironwood replaced Orchard after developers disclosed a four-year vulnerability carrying theoretical hidden counterfeiting risks onchain. Developers found no evidence of exploitation but cannot cryptographically prove counterfeit ZEC never existed privately. Wang, who posts under the name Chun at @satofishi, called the move a “narrative bid.” He argued that Zcash’s funding history, optional privacy model, governance disputes and recently disclosed Orchard vulnerability did not justify its valuation. His comments are opinions rather than evidence of wrongdoing. Several underlying events are documented, but some of Wang’s conclusions omit later changes to Zcash’s funding and privacy s...