Connect with us

Crypto World

Across Protocol Proposes Shift From DAO to Private Company

Published

on

ACX Market Cap

Risk Labs, the team behind cross-chain bridging protocol Across, is proposing to dissolve the project’s token-based DAO structure and transition its operations to a newly formed U.S. C-corporation.

“Across has moved billions and billions of assets between chains, and we have helped unify Ethereum and all its chains. I’m proud of what we’ve built, and I believe this proposal lets us double down on our future while benefiting all existing tokenholders,” co-founder Hart Lambur wrote on X.

Under the plan, ACX token holders would be given two options: exchange their tokens for equity in the new company at a 1:1 ratio, or sell their tokens for USDC at $0.04375 — a 25% premium over the trailing 30-day average price.

ACX surged 70% on the news to $0.06, or a $60 million valuation. However, the token is still down 96% from its all-time high of $1.69 in December 2024, according to Coingecko.

Advertisement
ACX Market Cap
ACX Market Cap

Holders with more than 5 million ACX will be able to convert directly to equity, while smaller holders can participate through a no-fee special purpose vehicle (SPV) structure.

Risk Labs framed the move as a response to friction the team has encountered while working with institutional and enterprise partners. The current token and DAO structure, the team said, has materially impacted its ability to close partnerships. A traditional corporate entity, they argue, would unlock new commercial opportunities and enable entry into enforceable contracts.

The protocol’s liquid assets, roughly equivalent to its current market cap, would be used to finance the buyout, with a six-month redemption window expected to open within three months of the proposal passing.

“This proposal is a temperature check, and nothing will be decided without dialogue and a formal DAO vote,” Lambur added.

Across raised $41 million last year from prominent investors, including Paradigm, Bain Capital Crypto, Coinbase Ventures, and Multicoin Capital.

Advertisement

Looking ahead, Lambur said Across plans to focus on stablecoin bridging and agentic payments, teasing “two more yet-to-be-announced deals that make moving money free for users.”

Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Crypto World

Foundry to Launch Institutional-Grade Zcash Mining Pool in April 2026

Published

on

Privacy, Bitcoin Mining, United States, Zcash

Digital asset infrastructure company Foundry Digital plans to launch a mining pool for Zcash in April 2026, expanding beyond Bitcoin mining infrastructure. The company said the pool will be designed for institutional and publicly traded miners seeking compliance-focused mining services.

The new pool will be based in the United States and built on the same infrastructure used by Foundry USA Pool, which is operated by the company. Foundry said the service will include reporting tools and payout systems intended to meet the operational requirements of institutional miners.

Zcash is a privacy-focused cryptocurrency which features an encrypted ledger using zero-knowledge proofs. A mining pool is a service that allows multiple miners to combine computing power and share block rewards, increasing the chances of earning consistent payouts.

Advertisement

A spokesperson for Foundry told Cointelegraph that the company decided to build a the new mining pool because “Zcash addresses something we believe is genuinely important: the idea that financial privacy is foundational to economic freedom, and that privacy and compliance can coexist.” They added: 

When institutional and public miners can mine Zcash through infrastructure built to their standards, it brings new hashrate to the network and strengthens its security.

Foundry Digital was founded in 2019 and provides mining infrastructure and related services for digital asset companies. Its Foundry USA Pool is one of the largest Bitcoin mining pools by hashrate share. Foundry said it expects the Zcash pool to begin operations in April 2026.

The announcement comes days after developers who previously worked at Electric Coin Company raised more than $25 million to continue developing a privacy-focused wallet for Zcash. 

Related: Dash Evolution chain integrates Zcash Orchard privacy pool

Advertisement

Zcash garners attention amid price volatility

Zcash, launched in 2016, allows users to send transactions without publicly revealing details such as wallet addresses or transaction amounts. The network is based on Bitcoin’s codebase but uses zero-knowledge proofs, known as zk-SNARKs, to enable optional “shielded” transactions alongside standard transparent ones.

In 2025, Zcash became one of the most widely discussed privacy-focused assets in crypto, with comments from industry figures, including Arthur Hayes, Naval Ravikant and Mert Mumtaz, helping drive interest in the network and its native token, ZEC (ZEC).

The rally pushed Zcash up nearly 600% over the past year, climbing from below $35 in March 2025 to as high as $698.87 on Nov. 16, 2025, according to CoinGecko data. The token has since pulled back, falling 58.7% year-to-date from about $512 on Jan. 1 to roughly $212 at the time of writing.

Privacy, Bitcoin Mining, United States, Zcash
Zcash price over one year. Source: CoinGecko

Even with the renewed attention, the network’s mining activity remains concentrated among a small number of pools.

Data from Poolbay shows ViaBTC controlling about 31.7% of total hashrate, followed by F2Pool at roughly 15.8%, with smaller shares distributed across pools such as 2Miners and Antpool.

Advertisement

Magazine: All 21 million Bitcoin is at risk from quantum computers