Ethereum Foundation Don Match $500K for Tornado Cash Defense
Tornado Cash developer Roman Storm don dey get plenty donations for im legal defense fund after partial jury verdict. Jury no fit reach consensus on money laundering and sanctions-violation charges but dem convict am under Section 1960 for running unlicensed money transmitter. Ethereum Foundation talk say dem go match contributions up to $500,000, boost support. Im team plan appeal Section 1960 verdict and dey wait DOJ decision on retrying the two hung counts. Experts Aaron Brogan and Brandon Ferrick expect appeal over Section 1960’s application and think DOJ go no do retrial on laundering charges. Storm first set $1.5 million fundraising goal to cover high legal costs. Industry leaders warn say this case fit shape future legal risks for open-source, privacy-focused DeFi and blockchain projects, make am important watchpoint for crypto traders wey dey track Tornado Cash developments.
Bearish
Di ongoing legal wahala wey dey surround Tornado Cash developer and the Section 1960 conviction fit affect how people feel about TORN token. Ethereum Foundation pledge $500,000 wey go match sum, e fit help small but e no go remove the regulatory risk. Traders fit stay careful, make trading dull for short term. For long term, if clear resolution or regulatory outcome show, price fit steady but di current legal wahala dey keep pressure dey put price down.