The Zcash Foundation closed the first quarter of 2025 holding roughly $36.6 million in liquid assets, a figure that makes its $817,000 in operating expenses for the same period look almost quaint.
Team compensation accounted for the largest slice of that $817K spend, consistent with how the foundation has allocated resources in prior quarters. The rest flows into engineering, research, and operational overhead needed to keep a blockchain protocol humming along.
A lean operation by any measure
At a burn rate of roughly $817K per quarter, the foundation’s $36.6 million in liquid assets could theoretically sustain operations for over a decade. Its treasury strategy leans conservative, with holdings reportedly spread across USD, stablecoins, and positions in BTC and ETH, alongside some ZEC.
The foundation publishes detailed quarterly transparency reports covering income, expenditure breakdowns, and asset composition.
