Why release a transparency report?
Electric Coin Co. (ECC) 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 Q2 2021.
- ECC and its parent 501(c)3 Bootstrap received coins at a value above the operating-expense level for Q2 2021. During Q2 2021 Bootstrap received coins at an average of $1,438,000 a month (at the average ZEC price for each of the months’ distribution dates at $187.83) and incurred average monthly expenses of approximately $655,000.
- At the end of Q2 2021, the company held approximately $6.6M in USD and approximately 58.5K ZEC. As of December 8, 2021, the company held approximately $6.9M in USD and approximately 78.2K in ZEC.
- During Q2 2021, Bootstrap made the election to select C Corp status for the Electric Coin Company, its wholly owned subsidiary.
Click here to download the full ECC Transparency Report for Q2 2021.