Ethereum Foundation Pledges to Match $500K for Roman Storm’s Legal Defense
Main Idea
The Ethereum Foundation has pledged to match up to $500,000 in donations for Roman Storm's legal defense, following his conviction related to the development of Tornado Cash, a privacy tool allegedly used for money laundering.
Key Points
1. The Ethereum Foundation announced a matching pledge of up to $500,000 for Roman Storm's legal defense, emphasizing that 'privacy is normal, and writing code is not a crime.'
2. Roman Storm was found guilty of charges related to money laundering and tax evasion, facing up to 5 years in prison, with a retrial possible for Counts 1 & 3.
3. Tornado Cash, the privacy tool Storm helped develop, was sanctioned by the U.S. Treasury in 2022 for allegedly laundering $7 billion, including funds tied to North Korea's Lazarus Group.
4. Legal experts and industry figures, including lawyer Jake Chervinsky, criticized the verdict, arguing that non-custodial protocol developers should not be held liable under Section 1960.
5. Storm previously requested an additional $1.5 million for legal costs, citing high expenses during his three-week trial, while the founders of Samourai Wallet also face similar charges and potential prison time.
Description
Tornado Cash co-founder Roman Storm faces decades in prison if prosecutors retry deadlocked charges in a high-profile case.
Latest News
- Ethereum Foundation Pledges to Match $500K for Roman Storm’s Legal Defense2025-08-08 06:32:28
- Jack Dorsey's Block Adds 108 Bitcoin in Q2, Posts Higher Revenue and Profit2025-08-08 05:27:06
- Core Scientific's Top Investor to Vote Against CoreWeave's 'Inadequate' $9B Takeover2025-08-08 04:56:29
- Trump’s Pro-Crypto Orders See Bitcoin Futures Open Interest Jump, Then Unwind2025-08-08 04:23:12
- Bitcoin Advances After Trump Taps Bitcoin-Friendly Economist For Fed Role2025-08-08 00:52:47