ECC Transparency Report for Q1 2023
Why release a transparency report?
Electric Coin Co. is committed to openness and transparency — as we help evolve and support the Zcash digital currency, and in support of our mission to empower people with economic freedom. This transparency report details company income, expenses, and use of funds during Q1 2023.
- Bootstrap received coins at a value below the ECC operating expense level for Q1 2023. During this time, Bootstrap received coins at an average of $345,000 a month (at the Q1 average ZEC price, $45, for each of the three months’ distribution dates), and Bootstrap and ECC incurred average monthly expenses of approximately $677,000.
- At the end of Q1 2023, Bootstrap and ECC collectively held approximately $1.4M in USD and approximately 107.8K ZEC. As of September 27, 2023, the company held approximately $676K in USD and approximately 89K ZEC.