F2Pool Co-Founder Wang Chun Calls Zcash Rally Narrative-Driven

F2Pool co-founder Wang Chun said Zcash's recent rise is driven by narrative speculation and that a market value close to Solana and Hyperliquid does not mean it has the same level. According to Foresight News, he said Zcash was not fairly launched, noting that 20% of block rewards went to founders, employees, advisers, and early investors during the first four years, totaling about 2.1 million ZEC, or 10% of the 21 million supply cap. He said the same 20% allocation later returned under a development fund structure. Wang Chun added that Zcash privacy is optional rather than default, and that most coins have remained in transparent addresses for much of its history. He also said Electric Coin Company and the Zcash Foundation have long had governance disputes, and that ECC staff resigned in January 2026, saying they had been pushed out. On security, he said a serious Orchard pool vulnerability disclosed in May 2026 had existed for about four years and could theoretically have allowed ZEC issuance without clear on-chain traces, though the pool's privacy made it impossible to prove it never happened. He added that Ironwood shut down the old pool and forced a transition in July, describing it as cleanup rather than a reason for Zcash to rank among the top 10.