ZEC jumps 17% to $690 after SEC closes Zcash Foundation probe without action

Zcash (ZEC) climbed more than 17% on Wednesday, briefly reaching $690, a level it had not traded at since November last year. The move followed news that the U.S. Securities and Exchange Commission closed its investigation into the Zcash Foundation without enforcement action, a probe that began with an August 2023 subpoena. The Foundation also reported $36.7 million in net liquid assets at the end of Q1, including 85,412 ZEC valued at about $21.2 million.