Key Points:

• Binance has initiated a vote for users to decide which tokens should be removed, with Zcash among the options.
• The ZEC token has seen a 3.1% drop in the last 24 hours.
• Founders in the crypto space expressed their disappointment regarding Binance’s decision.

Cryptocurrency exchange Binance has been facing criticism this week for including the privacy token Zcash (ZEC) in the vote for potential delisting from their platform. Zcash, valued at a market cap of $500 million, has been put on the ballot along with FTX’s FTT token and the data security platform JASMY.

Zcash founder Zooko Wilcox tweeted at Binance CEO Richard Teng, asking, “You’re considering delisting Zcash!? What kind of world are you creating? Do you want your children to grow up in peace and prosperity, or a Black Mirror episode?”.

Meanwhile, Barry Silbert, the founder of Digital Currency Group, also shared posts expressing concerns about Zcash’s inclusion in the delisting vote. This sentiment was supported by Ledger’s CTO Charles Guillemet and Cosmos co-founder Ethan Buchman, who highlighted the critical need for privacy in the digital currency space.

From Binance’s perspective, the topic of privacy tokens has been a continuous subject in discussions with financial regulators. A leaked EU document from 2022 indicated that there might be a ban on privacy tokens across Europe.

ZEC is currently trading at $31.26, following a 3.1% decrease over the past day.