Ethereum

Tornado Cash

Tornado

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 <li>With Vitalik Buterin's 100 ETH gift, the Tornado Cash legal fund now stands at $785,000, providing help for developers who are facing significant charges.</li>  
 <li>Vitalik swapped meme coins like MOODENG and NEIRO for 140.7 ETH to help fund the Tornado Cash developer defense.</li>  
 <li>Tornado Cash developers face trial in December; Storm could get 45 years for privacy tool use despite his not-guilty plea.</li> 
</ul>  
<p>The third payment from <a href="https://cryptonewsland.com/vitalik-buterin-funds-earthquake-victims-in-syria-turkey/" target="_blank" rel="noopener noreferrer nofollow">Ethereum co-founder Vitalik Buterin </a>increased Tornado Cash's legal defense budget. To aid engineers Roman Storm and Alexey Pertsev in their legal dispute, Buterin <a href="https://x.com/WuBlockchain/status/1842753781823598598" target="_blank" rel="noopener noreferrer nofollow">donated</a> 100 ETH, or roughly $240,000. This latest contribution pushes the total raised by the defense fund to over 327 ETH, or about $785,000.</p>  
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<h2 class="wp-block-heading" id="h-buterin-sells-meme-coins-to-support-the-fund">Buterin Sells Meme Coins to Support the Fund</h2>  
<p>Besides his donation, Buterin recently swapped large meme coin holdings for 140.7 Ethereum. On-chain data reveals he sold meme coins like MOODENG, DEGEN, NEIRO, and KOBASU, which have gained massive attention in recent months. For instance, NEIRO surged by 215% last week alone and skyrocketed by 1685% over the month, while MOODENG grew by 350% over a similar period.</p>  
<p>Moreover, <a href="https://cryptonewsland.com/tornado-cash-developer-alexey-pertsev-seeks-additional-funding-for-legal-battle/" target="_blank" rel="noopener noreferrer nofollow">Tornado Cash continues to face legal scrutiny</a> for enabling anonymous transactions on the Ethereum blockchain. The platform has been used by hackers for money laundering activities, as highlighted by Certik’s recent report.&nbsp;</p>  
<p>Despite this, Buterin and other crypto veterans advocate for privacy tools like Tornado Cash to safeguard asset management. Tornado Cash deposits reached $2 billion in early 2024, despite sanctions and legal pressure from the U.S. government.</p>  
<h2 class="wp-block-heading" id="h-upcoming-trial-and-legal-ramifications">Upcoming Trial and Legal Ramifications</h2>  
<p>Consequently, the upcoming trial of developers Alexey Pertsev and Roman Storm has attracted widespread attention. The trial is set for December 2 in New York, where Storm faces up to 45 years in prison if convicted on charges, including conspiracy to commit money laundering.&nbsp;</p>  
<p>Storm pleaded not guilty, arguing <a href="https://home.treasury.gov/news/press-releases/jy0916" target="_blank" rel="noopener noreferrer nofollow">Tornado Cash</a> is open-source software beyond the control of its developers. The trial is expected to last two weeks and will be pivotal for the future of crypto privacy tools.&nbsp;</p> 
<p>The post <a href="https://cryptonewsland.com/vitalik-buterin-boosts-tornado-cash-defense-fund/" rel="noopener noreferrer nofollow">Vitalik Buterin Boosts Tornado Cash Defense Fund with $240K Donation</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Vitalik Buterin Boosts Tornado Cash Defense Fund with $240K Donation

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