8 Aug 2025, 12:20

Ethereum Foundation Backs Tornado Cash Developer with $500K Legal Defense Fund

The Ethereum Foundation has once again thrown its support behind Tornado Cash developer Roman Storm, pledging $500,000 in donations to fund the privacy-protocol developer’s legal defense. This announcement comes just days after the Tornado Cash co-founder was convicted on one of three federal charges that legal experts warn could set a dangerous precedent for criminalizing open-source development. Privacy is normal, and writing code is not a crime. https://t.co/BD55K5GDW3 — Ethereum (@ethereum) August 7, 2025 In an August 7 announcement , Hsiao-Wei Wang, co-executive director of the Ethereum Foundation, disclosed details of the donation and called upon the broader crypto community to contribute to the Tornado Cash developer’s legal defense fund. Ethereum Foundation Support Ambitious $7M donation goal as Storm Faces 5-Year Prison According to the “ freeromanstorm ” donation tracker, the Ethereum Foundation has contributed only 2% of the $500,000 target, while total legal fund support received by the Tornado Cash developer currently exceeds $4.7 million, still 31% short of the ambitious $7 million goal. Source: Free Roman Storm Supporting Roman Storm’s cause, Wang emphasized that “Privacy is normal, and writing code is not a crime.” Storm himself has been actively soliciting public contributions to his legal defense fund. A July 26 X post from the Tornado Cash developer urgently stated: “We’re running out of time — legal costs are piling up fast, and we urgently need your help.” The current legal urgency and plea for donations comes as a Manhattan jury on August 6 found Storm guilty of conspiring to operate an unlicensed money transmitter. Coin Center’s Seven Takeaways from the Storm Verdict: 1. The sole conviction—unlicensed money transmission (18 U.S.C. § 1960)—turns mainly on legal/regulatory interpretation (“does this count as money transmission?”), not jury fact-finding. 2. The court, at the… — Peter Van Valkenburgh (@valkenburgh) August 6, 2025 However, jurors remained deadlocked on separate conspiracy charges for money laundering and sanctions evasion after four days of deliberation. Under 18 U.S. Code Section 1960 , Storm was convicted of operating an unlicensed money transmitting business, which stipulates that anyone who “knowingly conducts, controls, manages, supervises, directs, or owns all or part of an unlicensed money transmitting business, shall be fined under this title or imprisoned not more than 5 years, or both.” The Free Pertsev & Storm legal aid organization highlighted the urgency of continued funding, confirming that Storm “risks up to 5 years of jail time if he doesn’t win the appeal, and potentially decades if the government decides to retry Counts 1 & 3.” Counts 1 and 3, which remain in legal deadlock, include charges of conspiracy to commit money laundering and conspiracy to violate U.S. sanctions, respectively. Roman has been convicted on Count 2 of conspiracy to Operate an Unlicensed Money Transmitting Business (max sentence of 5 years in prison). Here's a good thread by @valkenburgh about this charge + why it makes no sense: https://t.co/GlyEj9kPyy — Free Pertsev & Storm (@FreeAlexeyRoman) August 6, 2025 The organization noted that this case’s outcome “will set a major precedent for developers worldwide.” “Sad Day for DeFi”: Crypto Lawyers And Community Rally Support for Tornado Cash Developers The crypto community has widely criticized the unfairness of Storm’s case. On August 6, crypto lawyer Jake Chervinsky called the recent verdict “a sad day for DeFi,” arguing that “the government should never have brought this case.” He contended that Section 1960 should not apply to developers of non-custodial protocols who lack control over user funds. The government should never have brought this case. Section 1960 should not apply to the developer of a non-custodial protocol who lacks control of user funds. This case should go up on appeal. Hopefully the Second Circuit will correct this (and many other) errors in the case. — Jake Chervinsky (@jchervinsky) August 6, 2025 Chervinsky urged the case to proceed on appeal, expressing hope that “the Second Circuit will correct this (and many other) errors.” Storm’s legal difficulties stem from his role in developing Tornado Cash, a cryptocurrency mixer that enables users to obscure transaction histories by pooling funds with other users. The U.S. Treasury Department sanctioned the protocol in August 2022, alleging that $7 billion had been laundered through the platform since 2019, including frequent use by North Korea’s Lazarus Group hackers. Federal prosecutors characterized Storm as someone who profited from “hiding dirty money for criminals.” At the same time, his defense team argued that Tornado Cash was designed as a privacy tool for legitimate users, not specifically for illicit activities. Storm was indicted on these charges and sanctions violations alongside Tornado Cash co-founder Roman Semenov and Alexey Pertsev, another developer associated with the cryptocurrency-mixing platform. Tornado Cash users, developers, and crypto executives continue challenging the Treasury’s sanctions in court, arguing that the platform’s immutable smart contracts should not be subject to OFAC restrictions. Roman Storm, co-founder of the crypto mixing platform Tornado Cash, is urging a U.S. federal judge to dismiss all criminal charges against him. #TornadoCash #Storm https://t.co/UR6SpxMSw3 — Cryptonews.com (@cryptonews) December 20, 2024 On March 24, Coinbase’s Chief Legal Officer, Paul Grewal, demanded a final court judgment in the Tornado Case, despite the U.S. Department of the Treasury’s decision to delist the crypto mixer. The post Ethereum Foundation Backs Tornado Cash Developer with $500K Legal Defense Fund appeared first on Cryptonews .

8 Aug 2025, 12:10

Ethereum Founder Vitalik Buterin Offers Support and Warning for ETH! He Made a Reference to Another Altcoin!

As the number of companies adding Ethereum (ETH) to their reserves continues to increase every day, Vitalik Buterin commented on this situation. In an interview with the Bankless podcast, Ethereum co-founder Vitalik Buterin supported the growing trend of ETH-focused treasury firms while warning that excessive leverage risks triggering a gradual price collapse. Vitalik Buterin said that holding ETH in companies' treasuries is valuable and helps more investors access it. However, he warned that this trend could pose risks to the Ethereum ecosystem if it turns into an “over-leveraged game.” “They certainly provide valuable services. The ability for companies to invest in ETH treasury companies rather than holding ETH directly gives investors more options. However, there are risks as well.” According to the data, the largest institutional ETH holders are BitMine Immersion Technologies with $3.23 billion worth of ETH and SharpLink Gaming with $2.02 billion worth of ETH. Vitalik Buterin also emphasized that these companies are more resilient than past failures like Terra, and stated that ETH investors are not like Terra investors, they have sufficient knowledge and discipline. “These are not Do Kwon followers we are talking about. ETH investors have enough discipline to stay away from such a crash.” Buterin added that ETH’s 163% rally this year, fueled by demand from treasury firms, has helped narrow the performance gap with Bitcoin (BTC) and Solana (SOL). *This is not investment advice. Continue Reading: Ethereum Founder Vitalik Buterin Offers Support and Warning for ETH! He Made a Reference to Another Altcoin!

8 Aug 2025, 12:04

JPMorgan Just Flipped On The Fed—Predicted To Fuel A Huge Bitcoin Price Boom

Analysts with JPMorgan have flipped to predict the Federal Reserve will cut interest rates in September...

8 Aug 2025, 12:00

Fundamental Global Enters Ethereum Treasury Strategy Trend With $5B Fundraise Plan

Ethereum’s growing appeal among institutional players has taken another leap forward as Fundamental Global Inc. (FGF), a Nasdaq-listed company specializing in reinsurance, merchant banking, and asset management, revealed an ambitious $5 billion cryptocurrency strategy in a recent SEC filing. The plan marks a major pivot toward Ethereum investments, signaling increased confidence in the asset’s long-term potential. The announcement immediately impacted market sentiment. While FGF shares closed the regular session on August 7 at $36.17, down 1.44% for the day, they surged 3.76% after-hours to $37.53 following the news. Investors reacted to the aggressive treasury allocation plan, which positions the company alongside other forward-looking firms adopting Ethereum as part of their corporate reserves. FGF’s move mirrors the Ethereum Treasury strategy trend recently embraced by Sharplink Gaming, underscoring a growing corporate shift toward integrating ETH into long-term capital strategies . This wave of institutional adoption not only strengthens Ethereum’s position in the crypto market but also reinforces its narrative as a store of value and strategic asset in the evolving financial landscape. FGF’s $5B Bet On Ethereum Marks Bold Institutional Shift Fundamental Global has made a landmark move into the cryptocurrency sector, filing an S-3 form with the US Securities and Exchange Commission (SEC) to offer up to $5 billion in securities. According to the filing, the majority of proceeds will be directed toward acquiring Ethereum, while the remainder will cover corporate and operational needs. This represents a major strategic shift for a publicly traded company historically outside the crypto space. In the filing, FGF outlined its new approach: “We recently initiated an Ethereum (ETH) treasury strategy. ETH is the native token of the Ethereum network. Ethereum is the foundation of digital finance and the settlement layer for the majority of stablecoins, Decentralized Finance (DeFi), and tokenized assets.” FGF further emphasized its intention to accumulate ETH as a long-term treasury asset, with the goal of growing its overall position and increasing ETH per common share through professional treasury management. The strategy will leverage capital raising activities alongside advanced blockchain-based tools such as staking, restaking, liquid staking, and other DeFi protocols to maximize returns and asset growth. By positioning ETH as its primary treasury reserve asset, FGF joins a growing list of companies—like Sharplink Gaming—that are embedding Ethereum into their corporate balance sheets. This approach not only diversifies reserves but also aligns the company with one of the fastest-growing sectors in digital finance. FGF’s commitment reflects a broader institutional recognition of Ethereum’s role as a core blockchain infrastructure asset. As more firms adopt similar treasury strategies, the demand for ETH could see sustained upward pressure, reinforcing its position as a strategic, yield-generating, and value-accreting asset in the corporate treasury landscape. Price Action Details: Key Levels To Watch Ethereum (ETH) is showing renewed bullish momentum, as seen in the 4-hour chart, after reclaiming the critical $3,860 resistance level. The breakout came with strong buying volume, pushing prices toward the $3,900 zone. This move follows a sharp recovery from the $3,350 local low earlier in the week, with ETH now trading above its 50-day (blue), 100-day (green), and 200-day (red) moving averages — a structurally bullish setup. However, the $3,900–$3,920 range is emerging as short-term resistance, where sellers have started taking profits. A decisive close above this level could open the door for a retest of the psychological $4,000 mark, last seen in mid-July. On the downside, immediate support lies at $3,860 — the previous resistance now flipped into a potential demand zone. If this level fails, ETH could revisit the $3,700 region, aligning with the 100-day MA for additional technical confluence. Volume patterns indicate that buyers remain in control, but the market may need consolidation before another leg up. As long as ETH holds above $3,860, the broader trend favors continuation to the upside, especially with institutional interest — such as Fundamental Global’s $5B Ethereum treasury plan — reinforcing the bullish narrative. A break below $3,860 would weaken this outlook in the short term. Featured image from Dall-E, chart from TradingView

8 Aug 2025, 11:48

Who's the mysterious institution quietly building a 171K Ethereum reserve?

Ethereum reserves are turning into a hot commodity as more companies set out plans to buy ETH. However, in the past week, a mysterious entity has built a potential treasury of over 171K ETH. The anonymous entity is buying up ETH from multiple sources, building a reserve of 171,015 ETH. On-chain data shows that Ethereum tokens were sent to six newly created wallets, funded by other large-scale trading wallets. The funds flowed in multiple transactions, tapping BitGo, FalconX, and Galaxy Digital, suggesting institutional buying. Other anonymous whales often use Binance for large transactions. This mysterious institution created a new wallet again, and received 10,396 $ETH ($40.6M) from #FalconX in the past 2 hours. Over the past 4 days, they have created 6 wallets and accumulated 171,015 $ETH ($667M) from #FalconX , #GalaxyDigital , and #BitGo . https://t.co/uYO6QGhRho pic.twitter.com/FEC4ilwzVo — Lookonchain (@lookonchain) August 8, 2025 The additional accumulation arrived as Ethereum is attempting yet another breakout. The token broke above the $3,900 level, once again setting expectations for a hike to $4,000 and new all-time highs. ETH has recovered from its image as an inactive chain, instead showing the network is key infrastructure for both native activities and inflows from institutional finance. The size of the current Ethereum reserves puts the entity among the top 5 entities with strategic ETH reserves , surpassing Coinbase and other earlier holders. The connected wallets are not yet linked to any specific treasury company or high-profile buyer. The recent inflows track high-profile purchases by SharpLink Gaming and the Ethereum Machine, as previously reported by Cryptopolitan. Whales actively move ETH for DeFi, reserve purposes Whales are highly active on the ETH spot market, with both trading and accumulation for staking. Recently, a whale panic-sold as Ethereum had a short-term setback, later returning to buy at $3,828. Overall, ETH is still relatively distributed, with the top 10 whales holding around 12.33M ETH, under 10% of the total supply. In comparison, BlackRock and Strategy already hold over 6% of the BTC supply, with even more locked in top institutional and corporate wallets. Ethereum also accumulates by necessity, even when held by retailers or early investors. After a period of usage as a utility coin, ETH is more widely used for staking and liquid staking currently. The inflow of ETH into accumulation addresses continues at a historically high pace, with growing demand for DeFi or a reserve for bigger future rallies. SharpLink Gaming buys more ETH SharpLink gaming also added to the ETH treasury rush. In the past day, the company acquired an additional 21,959 ETH, for a total of 543,898 ETH. SharpLink remains the second-largest corporate ETH holder, as BitMine has already expanded its treasury to 833.1K ETH. Following the recent purchase, SBET shares recovered near a one-week high of $23.56. Exact treasuries and wallets may be hard to track, as almost all entities move their funds into liquid staking. Even when staked on the Beacon Chain, the stakes will be split into several tranches of 2,048 ETH. Some large-scale ETH holders also choose third-party liquid staking entities that also work as validators. After an initial peak of requests to unstake ETH, validators are now returning to the usual balance. Close to 30% of the ETH supply is locked in staking, with additional tokens wrapped in multiple protocols. The increased demand from multiple buyer profiles continues to boost short-term ETH scarcity. In total, strategic ETH reserves are now above 3M ETH, catching up with near-vertical growth. ETFs still carry around 5.3M ETH, though with a slower pace in the past month. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .

8 Aug 2025, 11:20

Cryptopolitan Report: Crypto regulation isn't a mess anymore but it’s still a maze

A fresh Global Regulatory report from Cryptopolitan unveils that crypto oversight saw a growth in 2025. What was once a messy patchwork of pilot programs and ad hoc enforcement is slowly taking on a more structured shape. However, a unified global framework still feels out of reach. The Cryptopolitan report draws on real-time developments from over 20 jurisdictions and highlights how digital asset policy is increasingly being shaped by cross-border enforcement and institutional momentum. It involves institutional adoption and global key legal precedents. However, regulations picked up pace after Donald Trump’s bid to go all in on crypto. Countries are drawing clearer lines like who’s in, who’s out, and under what terms. The result is a global map split into three broad zones, ie, supportive, restrictive, and undecided, yet crypto companies are adjusting fast. The numbers tell part of the story, as only 40 out of 138 jurisdictions meet the FATF’s standards as of April. It is up slightly from last year but still miles from global alignment. Enforcement is ramping up fast, but still, illicit crypto flows topped $51 billion in 2024. The ByBit breach in February, reportedly tied to North Korea, clocked in at $1.5 billion, which is reportedly the biggest crypto heist to date. But regulation isn’t just about crackdowns, it’s also about unlocking new momentum. In Europe, MiCA went live , and EU crypto volumes jumped 70% in Q1. Licensing has been a choke point where around 45% of applications didn’t make the cut, but the framework is working. Elsewhere, investors are following the friendliest rules. The UAE’s MGX fund poured $2 billion into Binance this year, and global crypto VC hit $4.8 billion in Q1, the best it’s been since 2022. Timeline of key 2025 crypto regulatory events. Source: Cryptopolitan. Institutions are leaning in. The Cryptopolitan report mentions a survey showing that 83% of firms plan to grow their crypto exposure this year. While 76% are eyeing tokenized assets by 2026. The rise of central bank digital currencies (CBDCs) continues. 18 of the 20 G20 countries are now actively piloting CBDCs. This positions state-backed tokens to operate alongside regulated stablecoins in a dual monetary model that supports programmable finance. In the meantime, crypto companies are adapting rather than waiting for global alignment. They’re building modular legal structures like custody in one country, trading in another, and protocol development somewhere else. It’s a workaround, but it’s also becoming the default in the industry. This legal fragmentation is now shaping how the market grows, where it sets up shop, and how capital flows are built. Can this be crypto’s trial-and-error era? Countries that maintain the right mix of fast-moving rules, clear licensing, and some openness to cross-border deals are becoming magnets for capital, infrastructure, and talent. For instance, the US seems to be leading the race yet it remains scattered over crypto rules. Major bills are stalled in Congress. Before the cool down, watchdogs like the SEC and CFTC relied on enforcement. The commission’s legal wins against Ripple (partial), Coinbase, and Kraken have driven several firms offshore. This includes Gemini and Bitstamp. Amid all the regulatory hurdles, big questions loom: Can DeFi survive tighter enforcement? Or will CBDCs squeeze out open networks? How will DAOs get treated under tax and securities law? And more. Investors and key market players have shown their willingness to enter the market if the regulations are clear. Bitcoin hitting a fresh all-time high above $123k and the cumulative crypto market cap knocking $4 trillion, turns out to be a prime example of that. This sums up that crypto regulation in 2025 is no longer a patchwork of trial-and-error policies. As global coordination improves and regulatory sandboxes mature, we are likely to see dual systems emerge. One can be anchored in central bank digital currencies, and another powered by compliant, tokenized ecosystems. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .