Zcash co-founder Sean Bowe proposed ending the automatic funding stream to Zcash Community Grants (ZCG), saying its treasury was large enough to continue funding projects without further automatic payments.“ZCG has over $125M in funding, and will receive millions more before the spigot is turned off,” Bowe said Tuesday on X. “The program was never designed to handle this amount of funding.” Bowe shared a draft GitHub proposal that would redirect ZCG’s 8% share of the Zcash (ZEC) block subsidy to the network’s sustainability reserve, while leaving its existing funds untouched.The allocation would flow to the Network Sustainability Mechanism until the current funding period ends in 2028. The mechanism is designed to hold ZEC out of circulation and gradually reissue it through future block rewards.In September, Haseeb Qureshi, managing partner at crypto venture capital firm Dragonfly, proposed ending the Zcash developer fund when its current funding period expires, saying that it risks being “politicized” as it approaches $100 million in value.ZCG’s dashboard listed 91,453 ZEC and $8.8 million in cash as of Wednesday, with $2.4 million in outstanding grant commitments. The ZEC holdings alone were worth about $111 million at press time.The network’s separate development lockbox held 72,351 ZEC, worth roughly $89 million, according to ZecStats.Related: HOOD’s prediction markets to add $1.7B to revenue, exceed crypto by 2028: Bernstein

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Binance has applied for a cryptocurrency service provider license in Brazil, seeking to maintain its operations in one of Latin America’s largest crypto markets ahead of a regulatory deadline on Friday, Oct. 30.The exchange submitted its application to the Central Bank of Brazil on Friday, Oct. 23, through its local entity, BBrasil, according to a statement shared with Cointelegraph.The company said the filing would allow Brazilian users to continue accessing crypto assets, stablecoin trading, payments and investment services.Binance has also announced changes for Brazilian users effective Tuesday, including restrictions on crypto lending, margin trading and other services. The exchange is also delisting 22 crypto assets in the country.“We support a regulated market that considers the characteristics of virtual assets, so that access to technology and innovation continues to advance, but we hope that the ongoing dialogue with the Central Bank will allow us to offer, in the near future, other products that were discontinued to comply with current regulations,” said Thiago Sarandy, Binance’s general manager in the country.Brazil requires existing crypto service providers to submit authorization applications by Oct. 30 to continue operating under transitional arrangements. Filing an application does not constitute regulatory approval.Related: Binance.US seeks $1B valuation in potential $100M funding round: Report