- Ethereum co-founder Vitalik Buterin donates 100 ETH to aid Tornado Cash developer Roman Storm’s legal defense.
- Storm, grateful for Buterin’s support, highlights this as the third donation amid ongoing legal challenges.
Vitalik Buterin, recently allocated 100 ETH to support the legal defense efforts of Roman Storm, a developer associated with Tornado Cash. Storm expressed his appreciation on X, acknowledging Buterin’s consistent backing throughout their legal challenges .
I cant describe how much it means to me. Thank you for your long lasting support ❤️🙏💪 https://t.co/DjqkO5u6WR
— Roman S (@rstormsf) October 5, 2024
This donation is part of a series of contributions Buterin has made, with it being the third instance of financial aid to the developers of Tornado Cash following significant legal issues. In 2022, the U.S. government imposed sanctions on Tornado Cash, citing it as a national security concern.
The Office of Foreign Assets Control reported that the platform had processed over $7 billion, some of which were linked to illicit activities by North Korea’s Lazarus Group.
Following allegations of facilitating illegal transactions via the Tornado Cash platform, developers Roman Storm and Roman Semenov were arrested. To cover Storm’s legal fees, a decentralized fundraising platform known as Juicebox was employed, raising over $800,000 in Ethereum.
Currently, the monthly legal expenses amount to approximately $500,000, with an estimated $2 to $3 million further required to fully fund the ongoing legal actions.
Earlier in the year, Buterin had also donated 30 ETH to the legal funds, which was worth approximately $113,678 at the time. The ongoing support from Buterin reflects a strong sense of community solidarity in the face of the developers’ legal adversity.
Most recently, developments in the Netherlands led to a sentencing of over five years in prison for Pertsev, related to his role in creating a platform used by criminals for money laundering.
As of now, Ethereum (ETH) is trading at $2,471.1, reflecting a +1.28% increase. Here’s a brief technical analysis based on the latest data:
- Short-term performance: In the last 24 hours, Ethereum has shown moderate upward momentum, with a 1.31% increase.
- Key levels: Resistance is seen around $2,562.47, while support lies around $2,276.53. A pivot level has been identified at $2,440.09.
- Bearish sentiment: Some analysts expect a potential bearish reversal due to resistance overlap, targeting lower levels such as $2,000 if Ethereum fails to break the resistance levels.
