Ethereum

2024

Tornado Cash

Tornado

<ul class="wp-block-list">
  
 <li>Vitalik Buterin donates 100 ETH to Roman Storm's defense, raising total fund to 327 ETH.</li>   
 <li>Tornado Cash activity spikes, hitting $1.9B in deposits despite OFAC sanctions.</li>   
 <li>JusticeDAO raises over 654 ETH, valued at $1.5M, to support Tornado Cash devs.</li> 
</ul>   
<p>Ethereum co-founder Vitalik Buterin has contributed 100 Ether (ETH), equivalent to approximately $240,000, to Tornado Cash developer Roman Storm's legal defense fund. This marks the third occasion Buterin has supported Storm, whose legal troubles have mobilized the crypto community.&nbsp;</p>   
<p>The donation was confirmed through blockchain data and acknowledged on the Defend Roman Storm crowdsourcing page, which has collectively received over 327 ETH, valued at about $785,000, from 148 different contributors.</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/FreeAlexeyRoman/status/1842594411806658685 
 </div>
</figure>   
<p>Roman Storm faces significant legal challenges in the United States, where he has pleaded not guilty to allegations related to his development activities with the Tornado Cash platform. The case, presided over by Judge Katherine Failla, will proceed following a denied motion for dismissal. Storm could face up to 45 years in prison if convicted on all charges, a prospect that has intensified support from individuals and organizations within the cryptocurrency sector.</p>   
<h2 class="wp-block-heading" id="h-crypto-community-response-to-storm-s-legal-challenges"><strong>Crypto Community Response to Storm's Legal Challenges</strong></h2>   
<p>The <a href="https://cryptonewsland.com/?s=+crypto+community" target="_blank" rel="noreferrer noopener sponsored nofollow">crypto community's</a> response to Storm's legal situation has been robust, with initiatives like JusticeDAO raising substantial funds. Founded in June 2024, JusticeDAO has collected over 654 ETH, surpassing $1.5 million in value, to aid the Tornado Cash developers.&nbsp;</p>   
<p>This development underscores the community's solidarity and commitment to supporting its members against what many perceive as overreaching legal actions.</p>   
<p>Despite facing sanctions from the Office of Foreign Assets Control (OFAC) and ongoing scrutiny by U.S. officials, Tornado Cash has seen a significant uptick in activity. Deposits reached around $1.9 billion in the first half of 2024 alone, a 50% increase from the previous year.&nbsp;</p>   
<p>The sanctions have had a limited impact due to the pseudonymous nature of blockchain transactions, which allows for the continuous creation of new wallet addresses outside the reach of centralized, compliant exchanges.</p>   
<h2 class="wp-block-heading" id="h-buterin-s-philanthropic-efforts"><strong>Buterin's Philanthropic Efforts</strong></h2>   
<p>Besides supporting Storm, Buterin has been active in various philanthropic efforts, often utilizing the proceeds from unsolicited meme coin transactions. Recently, he liquidated multiple meme coin holdings, converting them into 140.67 ETH, worth roughly $341,000.</p>   
<p>These funds were partially redirected to support other charitable causes, including the “Free Alexey &amp; Roman” campaign, another initiative supporting Tornado Cash developers.</p>   
<p><a href="https://cryptonewsland.com/vitalik-buterin-donates-years-worth-of-animal-meme-coins-to-charity/" target="_blank" rel="noreferrer noopener sponsored nofollow">Buterin's approach</a> to unsolicited tokens has been clear; he disapproves of receiving these assets and prefers creators to direct contributions to charitable organizations. His recent actions align with his ongoing commitment to leveraging cryptocurrency for social good beyond the speculative nature often associated with meme coins.</p> 
<p>The post <a href="https://cryptonewsland.com/vitalik-buterin-donates-100-eth-to-support-tornado-cash-developer/">Vitalik Buterin Donates 100 ETH to Support Tornado Cash Developer</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Vitalik Buterin Donates 100 ETH to Support Tornado Cash Developer

Table of Contents

Crypto News Land

Other articles published on Oct 6, 2024

US Financial Conditions Index dips to record lows: Is the Fed still in charge?

$HANA: The Next Evolution in Shiba Inu Crypto Legacy

Bitcoin Miner TeraWulf Sells 25% Stake in Nautilus for $92 Million

Solana Recovers Losses, Dome of Unity Nears Token Launch and Qubetics Presale Raises Over $1.15 M...

The XRP Price Rose from Under $1 to $3.65 in 2018, this Ripple Trader Says This Cheap Altcoin Wil...

CADUCEUS Launches Recruitment Drive to Attract Web3 Influencers and Ecosystem Builders

Join our free newsletter for daily crypto updates!