F2Pool Co-founder Wang Chun: Zcash Rally Driven by Narrative Speculation, Not Fundamentals

F2Pool co-founder Wang Chun (Wang Chun) stated that the recent Zcash (ZEC) price increase is driven by narrative-based speculation rather than fundamental value. He cited several core issues, including unfair initial distribution with a 20% 'founder reward,' questionable privacy mechanisms, ongoing internal governance conflicts between the Electric Coin Company (ECC) and the Zcash Foundation, and significant security vulnerabilities in the Orchard privacy pool discovered in May 2026.