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Attorneys for former FTX CEO Sam "SBF" Bankman-Fried have filed a motion in federal district court in Manhattan asking a federal judge to sentence SBF to between five and a quarter and six and a half years in prison after a jury found him guilty of multiple counts of fraud and money laundering last November. The maximum sentence, therefore, is 110 years.

SBF was charged with two counts of wire fraud, two counts of conspiracy to commit wire fraud, one count of securities fraud, one count of conspiracy to commit commodities fraud and one count of conspiracy to commit money laundering. On March 28, the federal judge hearing the SBF case, Louis A Kaplan, is scheduled to impose sentence.
Federal prosecutors were due to submit their sentencing recommendations on March 15, but a preliminary report (PSR) recommended a 100-year sentence for the former #FTX CEO.
FTX attorneys argued that the PSR's recommendation of a 100-year sentence was "barbaric" because SBF was a first-time offender with no criminal record and "joined at least four other guilty parties in a case where the victim could get - and always has gotten - 100 cents on the dollar.
Because FTX's bankruptcy provides for full restitution to customers, the submission said there would be zero damages to customers, creditors and investors. Legal counsel also cited numerous letters from friends and family strongly supporting a lenient resolution.
Cryptotokens have a long history.
Buy as many SOLs as you have for $3 now.
Sell everything you own.
FTX was one of the largest crypto exchanges, valued at $32 billion in January 2022, but collapsed in November of that year; SBF was found guilty of mismanaging $8 billion in customer funds and many other fraudulent activities.
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Scott Bessent, President-elect Donald Trump's nominee to be the next Treasury Secretary, has taken steps to get rid of significant assets to avoid potential conflicts of interest.

Before Trump's inauguration, Bessent disclosed assets totaling at least $521 million, but the real value is likely much higher.
On January 11, the U. S. Office of Government Ethics released information about Bessent's assets, indicating the range of value of each. Mr. Bessent, founder of Key Square Capital Management, did not specify the exact value, and some assets were simply listed as over $BTC For example, Mr. Bessent owns residential real estate in the Bahamas worth between $5 million and $25 million.
Mr. Bessent also owns real estate valued between $5 million and $25 million in Cushing, North Carolina, as well as art and antiques valued between $1 million and $5 million.
Mr. Bessent is known for his successful large-scale currency trading on Wall Street and for founding Key Square to capitalize on global macroeconomic trends, but he also seems to be a passive investor.
He is a member of the SPDR S&P 500 #ETF , Invesco S&P 500 Equal Weight ETF and Invesco QQQ, which is tied to the Nasdaq 100 Index.
In addition, he holds more than $50 million in U. S. Treasuries and significant positions in the dollar, euro, Chinese yuan and Japanese yen. He holds significant positions in the dollar, euro, Chinese yuan and Japanese yen. Among his #cryptocurrency investments, Bessent lists the iShares #Bitcoin Trust ETF, which is valued between $2,50001 and $BTC Bessent's decision to divest himself of assets to avoid potential conflicts of interest and to sell certain assets within 90 days of Senate approval This is consistent with federal ethics rules for candidates.
These rules exist to ensure that public officials make decisions based on the public interest, not personal financial gain.
In addition to the asset sale, Mr.
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Solana-based Bonk has increased in value by 190% over the past week and is trading near ATH 00000345; Floki is another trending memcoin, recording a 350% increase in price on its weekly chart and is 16th in terms of trading volume. Most of the triple-digit growth recorded over the past week is relatively new compared to more established memcoins such as Dogecoin and Shiba Inu.

The major memcoins of the past cycle have also seen bullish gains, with #Dogecoin posting a 90 percent weekly gain and #Shiba Inu posting a 175 percent gain.
The enthusiasm around memcoins is similar to the last bull rally in 2021, when Dogecoin led a bull rally backed by Elon Musk.
Each cycle of enthusiasm for memcoins and their price volatility has helped some investors realize large returns on their investments in a short period of time. However, many other investors have often suffered large losses. Many crypto veterans believe that these tokens have a negative impact on the overall #cryptocurrency market.
I am glad that you are making money with Mimcoin. But it does not benefit the market, and I'm not morally inclined to deal with it. If I could ignore the ethical dilemmas, it would definitely be a gold mine. But it's not for me.
Most of the mimcoins that experienced huge gains during the bull peak were also among the tokens that experienced the sharpest declines. Some of them have lost more than 80% of their value since the peak.
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Oklahoma State Senator Dusty Devers has introduced a bill to allow employees to be paid in bitcoin and allow businesses to accept the digital asset as payment.

The #Bitcoin Freedom Act, known as SB 325, is an Oklahoma bill. It seeks to establish a framework for the use of bitcoin and allows the use of bitcoin in transactions, salaries, and investments while ensuring compliance with legal requirements.
Any employee, business, corporation, other organization, or resident of the state may negotiate and accept payments and compensation, including salaries, wages, and other compensation in
For state employees who choose to receive their salaries in bitcoin, the bill requires an agreement with the state to determine whether or not SB 325 is established by the state. LIN_BREAK. Employees will be able to choose whether to receive their paychecks in bitcoins, U. S. dollars or both, and will be able to change their choice at the beginning of each pay period.
Devers said the legislation is a necessary step to protect Oklahomans from inflation.
At a time when inflation is eroding the purchasing power of hardworking Oklahomans, bitcoin offers a unique opportunity to protect incomes and investments, Devers contrasted bitcoin's fixed supply with the U. S. dollar printed in Washington, D. C. Not for nothing has President Trump campaigned on bitcoin and spoken at high-profile bitcoin-related events, Devers said. There is no question that bitcoin has entered the mainstream of our economy and is an important part of our financial future.
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BlackRock is set to expand its cryptocurrency product offering by launching an ETP bitcoin fund in Europe, following the rapid growth of US-listed bitcoin fund iShares Bitcoin Trust (IBIT)

The new fund is expected to be based in Switzerland and could launch as soon as this month. The new fund is expected to be based in Switzerland and could launch as early as this month.
The world's largest asset manager, which oversees $4.4 trillion in #ETF assets worldwide, is expanding its digital asset offering beyond North America. The move marks BlackRock's first #cryptocurrency ETP in the European market.
U. S. #bitcoin ETFs have seen significant inflows since their debut last year, with 12 funds raising a total of more than $116 billion, according to data compiled by Bloomberg. BlackRock's iShares Bitcoin Trust (IBIT) was the best-performing ETF in history.
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Strong job growth is expected to help bitcoin rise during the Fed rate cut.

Bitcoin is ready for action, but the incipient storm is still brewing.
An unexpected rate cut could send the #cryptocurrency surging.
The Federal Reserve will meet in November and may consider another 25 basis point rate cut; a sharp rise in jobs in September could reignite speculation of a further rate cut, potentially upsetting both traditional financial markets and the cryptocurrency world, and #bitcoin could see a significant rise in the bitcoin exchange rate.
The employment data for September beat expectations with 254,000 new jobs created, well above economists' expectations of 150,000. The latest data also showed that the unemployment rate fell to 4.1%, down from 4.2% in August.
the idea of additional rate cuts is controversial: some argue that easing will benefit the economy, while others warn that further monetary easing may not be necessary given the strength of the labor market. In the cryptocurrency market, this speculation could lead to explosive moves. As a high-risk asset, bitcoin often reacts sharply to signs of monetary policy easing.
the last Fed interest rate cut, bitcoin jumped to around $62,000, gaining momentum as investors rushed to the asset, perceived as a hedge against inflation and currency devaluation. Bitcoin is currently at US$62,250, having risen 1.4 percent over the past day.
If the U. S. Federal Reserve decides to cut interest rates by 25 basis points in November, bitcoin could gain new momentum and surpass its previous all-time high of $73,750. In addition to the Fed's decision, investors are also keeping a close eye on a number of other factors affecting the bitcoin price, including the global economy, inflation expectations and regulatory actions.

Bitcoin could experience both increased volatility and an uptrend, making it less predictable as an investment.

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Gary Gensler, SEC Chairman Under Investigation: Will Cryptocurrencies Rise?

According to a recent investigation, the era of Gary Gensler, SEC Chairman, may be short-lived. It is alleged that the chief regulator is politically motivated when hiring staff.
Under Gensler, many #cryptocurrency companies faced serious legal harassment.
Gary Gensler, chairman of the U. S. Securities and Exchange Commission (SEC), is under scrutiny in Washington. He has been criticized for allegedly appointing government officials based on their political connections, which is seen as a violation of federal rules. It remains to be seen how this news will affect the cryptocurrency market.
earlier today, the House Committee on Justice, Financial Services and Oversight sent a joint letter to the agency. The context of the letter was related to the appointment of Dr. Haoxiang Zhu as the SEC's director of trading markets.
Based on emails released during the Sec rule debate, it was alleged that Dr. Zhu indicated his political direction to Gary Gensler prior to adoption.
the situation prompted lawmakers Jim Jordan, James Comer and Patrick McGenry to investigate. Virtu Financial CEO Doug Cifu criticized Gensler's motives and called them political rather than market-driven. The emails now serve as further evidence against regulators.
the email also asked Gensler to provide records and correspondence regarding the hiring of directors and assistant directors. We were also asked to provide records of employees in the office of the Chairman after 2021/4 and material that took into account political preferences in hiring.
SEC was given until 2024-9-24 to comply with this request.
The investigation comes at a time when Gary Gensler's position is threatened by a possible change in government.
Trump promised to fire Gensler and appoint a new SEC chairman who will champion future innovation.
the CEO of #Ripple Labs Inc.

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The cryptocurrency market remains volatile and is heavily influenced by broader economic factors. The latest US job growth data beat expectations, indicating that the economy is doing well as interest rates rise.

This makes it less likely that the rate will be lower, impacting inflows into risky investments such as #cryptocurrencies .
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In his previous post, he said that if Solana can stay in the green zone between $141 and $1,147, the cryptocurrency could reach one more high before collapsing, he also urged investors to lock in profits in the green zone and reopen short positions from higher levels.

In addition, CrediBull Crypto predicted a new low for #Solana at around $115. He said that Solana and #Dogecoin will witness a slight reversal that will push their value up amid the downtrend in the market.
As mentioned earlier, the projected reversal of Dogecoin and Solana will depend on the future price performance of #bitcoin . At the time of writing, bitcoin is trading at 67,882 bitcoins and Bitcoin ETF spot funds have increased inflows despite the high demand for these digital assets in the market.
Bitcoin fell in price by 4.16 percent last week, sending the #cryptocurrency below its previous high of $71,000, which it reached earlier this month. According to CoinMarketCap, the cryptocurrency has renewed investor interest as its value has risen 1.24 percent in the past 24 hours.
Dogecoin and Solana have now shown a sharp decline, indicating that these cryptocurrencies have been inactive in the cryptocurrency market in recent days. At the time of writing, the price of dogecoin was 0.14, indicating a significant drop of 1% over the past 13.79 weeks.
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SHARE. Senator Cynthia Lummis has proposed a bill to adopt bitcoin as a U.S. strategic reserve, sparking bipartisan interest and widespread public support.

In July's #BTC Conference, Senator Cynthia Lummis, a prominent #cryptocurrency advocate, announced her intention to introduce a bill that would allow the U. S. government to adopt bitcoin as a strategic reserve asset. Just five days after her announcement, significant progress has been made on a bill that could be a landmark for the use and acceptance of #cryptocurrencies in the U. S.
pAccording to congressional records, on July 31, Senator Lummis of Wyoming introduced a bill directing the U. S. government to create a bitcoin strategic reserve program.
Speaking at the Bitcoin Conference in Nashville, Lummis explained that the bill would require the U. S. Treasury to purchase one million bitcoins worth about $60 billion over five years. Lummis compared the initiative to the U. S. Strategic Petroleum Reserve, saying that a large reserve of bitcoin would help strengthen the U. S. dollar. He also suggested that these assets could play an important role in reducing the national debt, which currently exceeds 35 trillion U. S. dollars.
the last three days, U. S. senators have received 2,200 letters from voters urging them to support Lummis's bill on a strategic bitcoin reserve. The most letters were received by Democrats - 1,333, Republicans - 850, and independents - 41.
The Lummis bill has now been referred to the Senate Committee on Banking, Housing and Urban Affairs. The committee will scrutinize the bill with experts. If the committee approves the bill, it will return to the Senate for debate and amendments before being voted on. Once approved by the Senate, the bill goes to the House of Representatives and, if passed, to the president.
According to CoinMarketCap, the total cryptocurrency market is valued at approximately $2.15 trillion and has fallen 0.84% in the past 24 hours.

U. S.

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Blockchain-based investment management company Superstate has integrated Chainlink Data Feeds product to provide tokenized Treasury fund pricing data.

The company integrated #Chainlink Data Feeds on Aug. 12 to provide Superstate Short Duration US Government Securities Fund (USTB) net asset value (NAV) data on the #blockchain . Superstate said the move will improve compatibility and interoperability across the USTB blockchain.
integration with Chainlink will provide investors with data transparency and allow them to focus on their core business, said Robert Leshner, CEO of Superstate and founder of Compound Labs.
USTB offers holders tokenized U. S. Treasury assets and, according to Superstate, has raised $102 million in assets under management since its launch in February of this year.
Chainlink's data feed gives USTB real-time visibility and opens up programming opportunities, including integration with blockchain-based money markets for use in collateralized lending.
Asset tokenization improves efficiency, programmability and transparency, but requires robust blockchain data to unlock #MarketDownturn and automation, Leshner added.
This move comes amid rapid growth in the tokenized treasury segment, whose total market value has increased 148% to US$1.91 billion since the beginning of 2024, according to Rwa. xyz data. This growth is driven by BlackRock's institutional USD, according to Rwa. xyz. Digital Liquidity Fund (BUILD), which currently leads the sector with USD 513.4 million, helped by its launch.
Superstate is playing a fundamental role in infrastructure development and service delivery in this important aspect of the growing tokenized asset economy, said Johann Eide, Chainlink's Chief Business Officer. We look forward to Superstate unlocking new use cases and business opportunities through its integration with Chainlink, said Johann Eide, business director at Chainlink.
Superstate was founded in 2023 and manages $ 129 million in digital assets.

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Tools for Humanity, which operates Worldcoin and is based in Germany, has ensured compliance with the European General Data Protection Regulation (GDPR).

The company has also consulted with Austrian data protection authorities to address privacy and data security concerns. The company emphasizes that World #ID Authentication does not collect any additional personal data beyond the #iris scan required for the process.Friederike Lumbroso-Baumgartner, CEO of Tools for Humanity in Germany, Austria and Switzerland, said the project is looking to rapidly expand its reach.Our goal is to make it possible for as many people as possible to get a World ID as quickly as possible, she said, adding that Austrians interested in the initiative can become #Worldcoin ambassadors and spread awareness and understanding of the project.The launch in Austria follows a similar launch in Germany, after the Bavarian State Data Protection Supervisory Authority (BayLDA) investigated Worldcoin over concerns about biometric data collection. The BayLDA reportedly inspected Worldcoin's operations in November 2022.government agencies around the world, including Spain, were skeptical of the company, suspending its operations for the time being.In addition to Spain, the company was also asked to stop providing services in Hong Kong. In Hong Kong, the Personal Data Protection Commission (PCPD) concluded that Worldcoin's operations violated the Personal Data Protection Ordinance (PDPO).the same time, the company is actively working to comply with local privacy laws, which increases the trust of users and regulators around the world. In May, Worldcoin increased security by opening up access to its biometric system and allowing users to securely delete old iris codes./after an investigation by local authorities, Worldcoin ceased operations in Kenya in 2023. In June, Kenya dropped the investigation and stated that there would be "no further police action.
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This comes after a massive $500 billion cryptocurrency sell-off triggered by traditional financial market turmoil, Jump Crypto oversold and broader macroeconomic instability.

Ether fell 8-5% on the 22nd, while #Solana fell 36% over the same period.
the aftermath of the sell-off, however, the price of Solana jumped 8.5% from a local low of 3-110 to 144 for a publish at 35.
At the same time, the price of #MarketDownturn recovered only 15%, rising from a 2.157-year low at the time of publication to a price per publication of 1.2463.
The Sol/ETH ratio previously reached 0.0591 in March during the massive increase in Solan prices, causing the asset to briefly reach a new all-time high in terms of market capitalization.
the crypto community has become very superstitious about the overly optimistic mood of ETH traders. Market participants believe that ETH tends to underperform when there is strong interest in the asset.
As part of an ongoing joke, Spectral Labs, a #cryptocurrency machine intelligence company, unveiled an artificial intelligence-based bot that automatically lowers ETH when traders on social media express overly optimistic sentiments about ETH.
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The Solana blockchain, known for its fast transactions, has once again come under scrutiny due to serious performance issues.

Previously plagued by reliability problems, the network is now being criticized for its high transaction failure rate.
The Platform Analyst X company has drawn attention to serious problems. Solana's failed transaction rate is alarmingly high, affecting the user experience and undermining the network's virtues such as low fees and scalability: according to #Jupiter , a #decentralized exchange on #Solana , only 35% of daily transactions are successful and 65% remain unprocessed.
If you look at the situation over the course of a month, the problem becomes even more severe. On some days, the failure rate exceeds 80%, which means that only two out of ten transactions are completed.
Despite the high transaction rate, Solana's numbers are misleading because failed transactions are equated with successful ones. This overstates the network's performance statistics and misrepresents its capabilities. Users are charged for all transactions, including failed transactions, which degrades the user experience and increases unnecessary costs.
The prevalence of failed transactions, compounded by bots spamming the network with low fee transactions, may discourage large financial institutions such as Visa from implementing Solana. The unreliability of the network may make traditional users hesitant to switch from more stable payment systems.
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On August 13, Ethereum L2 reached a record high of 12.52 million transactions.

Coinbase topped the list with 3.98 million transactions, followed by #Arbitrum One with 1.79 million transactions.
Despite the increase in transaction volume, fees dropped sharply to $171,514, a 96% decrease from March.
On August 13, the #MarketDownturn Layer 2 (L2) network saw a surge, with 12.52 million transactions recorded in just one day. This surge far exceeded the all-time high (ATH) of 11.5 million transactions recorded on April 4. The increase in marketplace activity is mainly attributed to Coinbase's Base and Arbitrum One.
the record transaction volume is a reflection of the exponential growth in adoption and utilization of Ethereum's L2 network.
#Etheriam Layer 2 set a new record of 12.42 million transactions per day.
scalability is rapidly improving.
According to growthepie, Base, a relative newcomer to the Ethereum ecosystem, set a daily record with 3.98 million transactions. Such numbers are staggering considering that Base, which launched just over a year ago, has quickly become the dominant player in the sector.
Be followed by Arbitrum One, which recorded 1.79 million transactions on Aug. 13; Arbitrum One has been in operation for nearly three years and maintains a strong presence in the Ethereum L2 market. The importance of Base and Arbitrum One in achieving record transaction volumes underscores their key role in strengthening Ethereum.
Despite the surge in transactions, fees paid by users have dropped significantly: on August 13, the total amount paid on the Ethereum L2 network was just $171,514, down from a peak of $4.2 million on March 5.
The 96% reduction in fees reflects a broader trend of lower user costs, even as transaction volumes hit new records.

The active addresses on the L2 Ethereum network show varying levels of performance. Base, the current leader, registers 3.

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In this post. MicroStrategy plans to raise $700 million in convertible bonds.

Bitcoin bulls recently bought $1.1 billion worth of #bitcoin .
In the last 90 days, the #BTC exchange rate has fallen 11%.
#MicroStrategy plans to raise $700 million through the private sale of convertible senior notes due 2028 to qualified institutional investors. The company plans to use the proceeds to redeem $500 million in secured senior notes at 6.125% and purchase bitcoin (BTC).
Bitcoin Bull may also receive an option to purchase an additional $105 million within 13 days of the #issuance of the notes. However, this offer is subject to market and other conditions. The bonds may be redeemable for cash on or after December 20, 2027 under certain conditions.
The bonds are senior unsecured obligations of MSTR, with interest payable semi-annually on March 15 and September 15 of each year, according to MicroStrategy. Payments will begin on March 15, 2025. The notes will mature in September 2028 unless converted, redeemed or prepaid in accordance with their terms.
MicroStrategy may redeem the notes for cash beginning December 20, 2027. If the notes are not redeemed in full, at least $75 million in aggregate principal amount must remain outstanding. Holders of the notes have the right to require MicroStrategy to redeem the notes for cash on September 15, 2027. These notes may be convertible into cash, Class A shares or a combination of both.
the Company intends to redeem the entire principal amount of its existing $500 million aggregate principal amount of 6.125% senior secured notes due 2028. The redemption is scheduled for September 26, 2024 and will be priced at 103.063% of the principal amount, after adding approximately $523.8 million of accrued interest.
The proceeds from the new offering will be used to redeem the senior secured notes.

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Bitcoin's growing dominance has historically been bad news for altcoins, with BTC up 2.5% on the day while altcoins traded mostly flat or down.

However, some traders believe that bitcoin's dominance is short-lived and that a crash is imminent, opening the market for #altcoins to rise.
In an Oct. 16 post, Benjamin Cowan, founder of ICT Crypto, predicted that bitcoin's dominance would reach 60 percent, while crypto investor "Coach K. Crypto" said bitcoin's dominance has peaked in this cycle, addressing his 129,000 subscribers X, #Bitcoin "has to collapse" before anything else happens, he told them.
The collapse [of bitcoin's dominance] is about to happen.
As a result, Mimcoin and other major altcoins are going to get their hands on it.
An analyst Moataz El-Sayed said on Oct. 14 that bitcoin's dominance is "about to collapse big time" and predicted the start of altcoin season.
Historically, bitcoin was one of the first assets to emerge when its dominance declined. According to TradingView, the ether-to-bitcoin ratio (BTC to #ETH conversion rate) is near its lowest level since April 2021 and was below 0.039 this week.
Bitcoin has remained largely unchanged since hitting an all-time high of $73,738 in March.
But it is now approaching the all-important psychological level of $69,000, a 2021 all-time high it has held for nearly three years.
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History has proven that cryptocurrencies outperform other currencies during currency expansions.

Gold is up more than 30% this year, while the NASDAQ is up just 24.43%.
#Bitcoin (BTC) is currently leading the way, up more than 52% this year.
Data from #cryptocurrency provider Ecoinometrics underscores bitcoin's ability to thrive in times of currency growth.
While major economies face potential financial difficulties, bitcoin's response to the fall of fiat currencies is once again gaining attention. A key example of this was in 2020, when the U. S. and other governments around the world injected significant liquidity into their economies in response to the COVID-19 pandemic.
In this period, bitcoin significantly outperformed traditional assets, demonstrating its potential as a hedge against inflation and currency devaluation.
In the wake of the pandemic, central banks around the world took steps to ease monetary policy on a large scale. In the U. S. , for example, the M2 money supply increased by $6 trillion to overcome the economic impact of COVID-19. According to an analysis by Econometrics, bitcoin has benefited significantly from the influx of liquidity, unlike traditional assets. During this period, the cryptocurrency grew at an impressive #compound annual growth rate (CAGR) of around 150%.
This growth rate is well ahead of the NASDAQ, which grew at an annual rate of less than 50%, and gold, which lagged far behind.
Bitcoin's annual growth rate is about four times that of NASDAQ and 20 times that of gold.
The current economic situation is different from the aggressive financial expansion of 2020. Governments are not printing money at the same pace as they did during the pandemic.
As a result, the price of bitcoin has stabilized in recent months.

Despite the current calm, global fiscal challenges, such as rising budget deficits and debt levels, suggest that a new wave of liquidity injections may be on the horizon.

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Is Crypto.com safe: analysis - Ecoinimist

Wide range of services: crypto. com offers everything from trading and betting to earning interest on #cryptocurrency deposits, providing users with many ways to deal with #digital assets.
Cryptocurrency rewards and cashback: the platform's Visa card offers attractive rewards in the form of cashback on purchases, which is an important factor for users.
Customer support: Crypto. com's support team is available around the clock to answer questions and provide advice, which is highly appreciated by many users.
the wide range of services offered by this exchange is one of the main attractions for users. The platform's ability to cater to a variety of financial needs, from trading to passive income, attracts users seeking versatility.
The Crypto. com rewards programs, including cashback for purchases made with Visa cards, are particularly popular with users. These programs encourage user engagement with the platform and offer tangible benefits that increase user satisfaction.
Read also: What does 100x leverage mean for cryptocurrency trading?
Having a 24/7 support team is an important benefit for Crypto. com users. It improves the overall user experience by ensuring that help is readily available in case of problems.
Commission structure: some users have noted that Crypto. com's commission structure is complex and may be slightly higher than other platforms. Users should carefully review the fees associated with various transactions.
Confirmation Process: The Crypto. com account confirmation process can be time-consuming for some users, leading to frustration, especially for those who want to start trading as soon as possible.
Some users find the fee structure complicated, but Crypto. com provides detailed documentation to help users understand the costs associated with various transactions.

Crypto.
Is Crypto. com safe for beginners?

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Ethereum co-founder Vitalik Buterin has donated 100 ETH to Tornado Cash developer Roman Storm's legal defense fund.

In a new thread on social media platform X, Storm, who helped launch an anonymous ETH-based #cryptocurrency mixing protocol in 2019, thanked Buterin for his continued support.
I can't express how much this means to me. Thank you for all your support over the years.
According to the Free Pertsev and Storm X account, this donation is the third time Buterin has supported the developers of the struggling Tornado Cache.
In 2022, the U. S. government sanctioned coin tumblers, citing national security concerns. At the time, the Office of Foreign Assets Control (OFAC) said that more than $7 billion in digital assets had been laundered through the protocol since its launch, including funds transferred by Lazarus Group, a North Korean hacker network. The protocol's developers have been indicted, including Storm, who was arrested last year along with another Tornado Cash developer, Roman Semenov, on suspicion of helping Lazarus Group launder illicit funds.
The legitimate fund, hosted on decentralized fundraising platform Juicebox, has raised more than $800,000 in #Ethereum at the time of writing. According to the people behind the fundraiser, Storm's legal fees have risen to $500,000 a month, and he may need another $2 million to $ 3 million to wrap up the case.
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