Trade Haven Hub - Investing and Stock News
  • Investment Tips
  • Trade Tips
  • Crypto News
  • Economy News
  • Stock Market
  • Investment Tips
  • Trade Tips
  • Crypto News
  • Economy News
  • Stock Market
No Result
View All Result
Trade Haven Hub - Investing and Stock News
No Result
View All Result
Home Crypto News

Ethereum Foundation Stakes $1.25M War Chest to Shield Tornado Cash’s Roman Storm

by
June 13, 2025
in Crypto News
0
Ethereum Foundation Stakes $1.25M War Chest to Shield Tornado Cash’s Roman Storm
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

The Ethereum Foundation has pledged $500,000 to support the legal defense of Tornado Cash co-founder Roman Storm, who faces federal charges in the United States.

In addition to the direct donation, the foundation said it will match up to $750,000 in community contributions.

Ethereum Foundation Steps in to Support Roman Storm as Tornado Cash Trial Looms

Storm is set to stand trial on July 14, 2025, in Manhattan federal court. He is charged with conspiracy to operate an unlicensed money transmitter, conspiracy to launder money, and conspiracy to violate U.S. sanctions.

The Ethereum Foundation described its donation as a stand for privacy and open-source development.

“Privacy is normal, and writing code is not a crime,” it wrote in a statement posted Friday on X.

The EF is donating $500K to the legal defense of Roman Storm, and we will match up to a further $750K in donations from the community.

Privacy is normal, and writing code is not a crime.

— Ethereum Foundation (@ethereumfndn) June 13, 2025

Storm was indicted in August 2023 for his role in building and maintaining Tornado Cash, a crypto mixer accused of facilitating the laundering of over $1 billion in illicit funds.

The service allegedly allowed users to obscure the source and destination of transactions, an activity that U.S. authorities say was exploited by hackers and criminal networks to move stolen assets.

Storm’s trial comes as prosecutors and regulators increase scrutiny of crypto tools tied to privacy and decentralization. His defense has argued that the case threatens the foundation of decentralized finance (DeFi) by criminalizing open-source development.

“In 31 days, I face trial,” Storm said in a Friday post on X. “The DOJ wants to bury DeFi, saying I should’ve controlled it, added KYC, never built it. SDNY is trying to crush me, blocking every expert witness. If I lose, DeFi dies with me.”

His co-founder, Roman Semenov, was also charged in the case but remains at large, reportedly in Russia.

A third developer, Alexey Pertsev, was convicted of money laundering by a Dutch court in May and sentenced to more than five years in prison. He is currently under electronic monitoring as his appeal progresses.

Tornado Cash was sanctioned by the U.S. Treasury’s Office of Foreign Assets Control (OFAC) in 2022. The agency claimed the tool had facilitated over $7 billion in illicit transactions since 2019 and failed to adopt safeguards against criminal misuse.

Storm’s legal team previously sought to dismiss the charges, arguing that OFAC overstepped its authority by sanctioning the mixer’s smart contracts.

That motion followed a separate ruling in a related case that questioned the agency’s reach over decentralized code.

With the trial approaching, the Ethereum Foundation’s contribution marks one of the most high-profile shows of support yet for Storm and raises broader questions about how far developers should be held responsible for permissionless code.

Vitalik Buterin Donates $170K to Support Tornado Cash Developers Early This Year

Ethereum co-founder Vitalik Buterin donated 50 ETH, worth around $170,000 in January 2025, to support the legal defense of Tornado Cash developers Roman Storm and Alexey Pertsev.

@VitalikButerin has stepped forward with a substantial donation to support the legal defense of Tornado Cash developers.#Buterin #ETHhttps://t.co/b6gbH3KxZw

— Cryptonews.com (@cryptonews) January 1, 2025

The contribution was confirmed through the Juicebox project “Free Pertsev and Storm,” which has so far raised over $650,000 through JusticeDAO, a decentralized fund backed by the crypto community.

Buterin’s support follows mounting legal pressure on the developers. In May, the U.S. Department of Justice confirmed it would proceed with federal charges against Storm, including allegations of money laundering and sanctions violations.

DOJ pursues federal charges against Roman Storm, cofounder of Tornado Cash, after dropping unlicensed money transmission charge.#TornadoCash #RomanStorm https://t.co/ZGXe7IGREZ

— Cryptonews.com (@cryptonews) May 16, 2025

The charge relating to operating an unlicensed money-transmitting business was later dropped. The legal campaign against Storm has also sparked backlash across the crypto space.

In April, the DeFi Education Fund urged the Trump administration to step in, calling the DOJ’s actions a “lawless prosecution” of open-source software developers.

The petition has since gained momentum, with signatures from key industry figures including Coinbase’s Fred Ehrsam, Paradigm’s Matt Huang, and Ethereum core developer Tim Beiko.

The post Ethereum Foundation Stakes $1.25M War Chest to Shield Tornado Cash’s Roman Storm appeared first on Cryptonews.

Previous Post

Nearly half of Americans back Israeli airstrikes on Iran, poll shows

Next Post

Charles Hoskinson Eyes $100M Treasury Shift – Will Stablecoins Rescue Cardano’s TVL?

Next Post
Charles Hoskinson Eyes $100M Treasury Shift – Will Stablecoins Rescue Cardano’s TVL?

Charles Hoskinson Eyes $100M Treasury Shift – Will Stablecoins Rescue Cardano’s TVL?

  • Trending
  • Comments
  • Latest
Murchison South Increases to 67koz Gold Across Two Pits

Murchison South Increases to 67koz Gold Across Two Pits

May 13, 2025
Bitcoin Records Highest Weekly Close as Price Nears All-Time High

Bitcoin Records Highest Weekly Close as Price Nears All-Time High

May 19, 2025
Quantum Computing: its Evolution and its Potential Future

Quantum Computing: its Evolution and its Potential Future

March 20, 2025
Buy Bitcoin Under $100K Before The Next Bull Run

Buy Bitcoin Under $100K Before The Next Bull Run

April 22, 2025
Trump’s Crypto Bet Pays Off: Over $600M Reported in 2024 Earnings

Trump’s Crypto Bet Pays Off: Over $600M Reported in 2024 Earnings

0
Quantum Computing: its Evolution and its Potential Future

Quantum Computing: its Evolution and its Potential Future

0
Quantum Computing: its Evolution and its Potential Future

Quantum Computing: its Evolution and its Potential Future

0
Air Direct Capture – Reducing CO2 from the Atmosphere

Air Direct Capture – Reducing CO2 from the Atmosphere

0
Trump’s Crypto Bet Pays Off: Over $600M Reported in 2024 Earnings

Trump’s Crypto Bet Pays Off: Over $600M Reported in 2024 Earnings

June 15, 2025
US Embassy in Israel tells government employees, families to shelter in place amid Iran strikes

US Embassy in Israel tells government employees, families to shelter in place amid Iran strikes

June 15, 2025
Netanyahu calls on Iranian citizens to seize ‘opportunity’ for regime change

Netanyahu calls on Iranian citizens to seize ‘opportunity’ for regime change

June 15, 2025
Israel’s actions against Iran create strategic opportunity for US in nuclear talks, experts say

Israel’s actions against Iran create strategic opportunity for US in nuclear talks, experts say

June 14, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent News

    Trump’s Crypto Bet Pays Off: Over $600M Reported in 2024 Earnings

    Trump’s Crypto Bet Pays Off: Over $600M Reported in 2024 Earnings

    June 15, 2025
    US Embassy in Israel tells government employees, families to shelter in place amid Iran strikes

    US Embassy in Israel tells government employees, families to shelter in place amid Iran strikes

    June 15, 2025
    Netanyahu calls on Iranian citizens to seize ‘opportunity’ for regime change

    Netanyahu calls on Iranian citizens to seize ‘opportunity’ for regime change

    June 15, 2025
    Israel’s actions against Iran create strategic opportunity for US in nuclear talks, experts say

    Israel’s actions against Iran create strategic opportunity for US in nuclear talks, experts say

    June 14, 2025
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 tradehavenhub.com | All Rights Reserved

    No Result
    View All Result
    • Investment Tips
    • Trade Tips
    • Crypto News
    • Economy News
    • Stock Market

    Copyright © 2025 tradehavenhub.com | All Rights Reserved