According to BeInCrypto on May 19, Zcash (ZEC) surged nearly 10% within a single day, trading at around $580. In January, the U.S. SEC concluded its investigation into the Zcash Foundation and took no enforcement action and imposed no fines. The Zcash Foundation’s Q1 2026 financial report shows that current assets are approximately $36.7 million.
## Confirmation Details of the SEC Investigation Closure
Confirmed by the Zcash Foundation’s quarterly report and official statement:
Investigation start date: August 31, 2023 (SEC staff served a subpoena on the foundation)
Case title: “In re: Certain Crypto Asset Issuance”
Case number: SF-04569
Case outcome: Formally closed in January 2026, with no enforcement action taken, and no penalties, fines, or conditions requiring any mandatory changes
In its statement, the Zcash Foundation confirmed: “We are pleased to announce that the U.S. Securities and Exchange Commission has completed its review and informed us that it does not intend to recommend any enforcement action or other changes against the Zcash Foundation regarding this matter.”
According to BeInCrypto, other recent SEC investigations that have been closed (with no allegations) include projects such as Aave, OpenSea, Robinhood, Gemini, and Ondo.
## Confirmed Figures from the Q1 2026 Financial Report
According to the Zcash Foundation’s Q1 2026 financial report, confirmed:
Current assets as of March 31, 2026: approximately $36.7 million
Asset allocation: ZEC accounts for about 58.6%; it also holds Bitcoin, dollar reserves, and a small amount of Ether
Average monthly operating expenses: about $272,500
## Engineering Progress Confirmed by the Foundation
Confirmed in the Q1 2026 report:
Zebra node: multiple new versions have been released
Z3 protocol stack: ongoing development has continued
FROST multi-party signatures: functional progress has been made
NU7 network upgrade: development for the next mainnet upgrade continues
Grayscale: recently listed Zcash as one of its preferred private placement assets
## FAQ
#### How long did the SEC investigation into the Zcash Foundation last, and what was the final outcome?
According to official records, the SEC began its investigation on August 31, 2023 (case number SF-04569) and officially closed it in January 2026, lasting about 2.5 years. The closure included no penalties, fines, or mandatory changes; the SEC informed the foundation that it would not take any enforcement action.
#### How long can the Zcash Foundation’s $36.7 million in current assets support operations?
Based on the Q1 financial report, the foundation’s average monthly operating expenses are approximately $272,500. At that rate, $36.7 million in current assets can support operations for about 135 months (over 11 years) (not counting market volatility of the assets themselves).
#### What challenges did Zcash face before it rose on ZEC?
According to BeInCrypto, ZEC previously faced pressure due to successive departures of Electric Coin Company employees in early 2026; at the same time, regulatory uncertainty from the SEC investigation also troubled Zcash for more than two years.
