At the end of the first quarter, the Zcash Foundation had current assets of $36.69 million and operating expenses of $817,000.

CoinFeed reported on May 20th that, according to The Block, the Zcash Foundation disclosed that it held approximately $36.69 million in liquid assets at the end of the first quarter, including approximately $21 million in ZEC, $12.6 million in cash and USDC, and a small amount of Bitcoin and ETH. Operating expenses for the first quarter were approximately $817,000, with team salaries accounting for the largest share. This latest disclosure is consistent with the Zcash Foundation's previous financial reports, which showed that capital expenditures in recent quarters have been below $1 million. Previously, all employees of the Electric Coin Company resigned to form a new for-profit company called Zcash Open Development Lab.