The Zcash Foundation just dropped their Q1 financials, and the numbers are looking solid. They closed the quarter with 36.69 million USD in liquid assets. That is a strong position for any crypto project. The best part? Operating costs were only 817,000 USD. That is incredibly lean for a major blockchain organization. It shows they are managing their treasury responsibly. Breaking down the treasury holdings: 21 million USD is in ZEC, their native token. They have 12.6 million USD in cash and USDC for stable liquidity. Plus, they are holding small positions in Bitcoin and ETH for diversification. This kind of financial transparency is exactly what the space needs. It builds trust with the community and shows the foundation is built to last through any market cycle. Zcash continues to focus on privacy tech while keeping the lights on with minimal overhead. A healthy treasury and low burn rate is a winning combo for long-term survival.