Ethereum

Tornado Cash

Tornado

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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/vitalik-buterin-donates-proceeds-from-meme-coin-sales-to-support-tornado-cash-developers/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Vitalik Buterin Donates Proceeds from Meme Coin Sales to Support Tornado Cash Developers</a> 
Vitalik Buterin, one of the co-founders of Ethereum , sold several popular meme coins and donated the proceeds to the “Free Alexey &amp; Roman” campaign. According to the latest network data, Buterin converted meme coins like MOODENG and NEIRO to Ethereum, using the gained revenue for the Tornado Cash developers.
<h2 id="meme-coin-sales">Meme Coin Sales</h2>
Buterin earned a total of 140.7 Ether by selling meme coins that have gained popularity recently, such as MOODENG, DEGEN, NEIRO, and KOBASU. The price of NEIRO surged by 215% last week, while MOODENG drew attention with a 1685% increase this month. Particularly, MOODENG investors saw significant profits in a short period.
Buterin donated all the revenue from the meme coins he converted to Ether to the “Free Alexey &amp; Roman” charity campaign. This campaign aims to raise funds for the legal defenses of Tornado Cash developers Alexey Pertsev and Roman Storm.
<h2 id="the-role-of-tornado-cash">The Role of Tornado Cash</h2>
Tornado Cash is a <a href="https://en.coin-turk.com/canadas-largest-crypto-exchange-supported-by-shark-tank-star-nears-merger/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto</a> mixer that allows users to anonymize their transactions on the Ethereum <a href="https://en.coin-turk.com/revolutionary-developments-in-the-bitcoin-ecosystem/" data-wpel-link="internal" rel="noopener noreferrer nofollow">blockchain</a>. According to a recent report shared by Certik, Tornado Cash was used to launder approximately $287 million in stolen funds in the third quarter. This indicates that Tornado Cash is preferred by cybercriminals for money laundering.
Buterin has opposed the unlawful detention of Tornado Cash developers and advocated for the use of crypto privacy tools. Previously, Buterin had also made donations for the release of Tornado Cash developers, contributing over $100,000 to the campaign in May. As a respected figure in the Ethereum community, Buterin’s actions have sparked widespread attention.
The developers of Tornado Cash are facing legal issues due to their role in creating a privacy-focused crypto mixer. A lawsuit is expected to be filed in the New York District Court in December.
Buterin’s donations continue to fuel significant discussions in the crypto community regarding privacy and legal issues. While some circles believe that such tools are beneficial for privacy, many argue that they facilitate criminal activities. We have noted this year how the disclosure of investors’ asset amounts during physical thefts poses serious concerns, suggesting that mixers may remain an essential need in the future.
In conclusion, Vitalik Buterin’s sales of meme coins and donations to Tornado Cash developers have ignited new discussions about the significance of privacy and legal matters in the <a href="https://en.coin-turk.com/cryptocurrency-predictions-highlight-potential-in-zro-eigen-sui-and-bitcoin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> community. Such actions will continue to shape the future direction of the crypto ecosystem.
The post <a href="https://en.coin-turk.com/vitalik-buterin-donates-proceeds-from-meme-coin-sales-to-support-tornado-cash-developers/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Vitalik Buterin Donates Proceeds from Meme Coin Sales to Support Tornado Cash Developers</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Vitalik Buterin Donates Proceeds from Meme Coin Sales to Support Tornado Cash Developers

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