Jury Selected in Tornado Cash Trial as Privacy in Focus
Tornado Cash co-founder Roman Storm faces a high-stakes trial in Manhattan for alleged crypto money laundering. Jury selection is complete, with 12 jurors (seven women, five men) half under 31, ensuring diversity. Prosecutors accuse Storm of facilitating hacks by groups like North Korea’s Lazarus Group to launder funds from attacks including the 2022 Axie Infinity Ronin Network hack. Storm’s defence insists Tornado Cash is a privacy protocol designed for legitimate use and rejects criminal intent. The trial begins next week, focusing on transactional records and user privacy. Observers highlight global DeFi regulation implications and note a younger jury may shape views on Tornado Cash’s legal boundaries.
Bearish
Ongoing federal charges and heightened regulatory scrutiny create direct negative pressure on Tornado Cash’s token. The trial’s focus on alleged money laundering underscores legal risks for users and platforms. Short-term volatility may spike as traders react to courtroom developments. Long-term uncertainty over DeFi regulation and potential precedents heighten sell-side sentiment, weighing on token demand and market stability.