🎁 Ace quick missions & earn crypto rewards while gaining real-world Web3 skills. JOIN NOW! 🔥

Roman Storm’s Legal Defense Gets $500,000 Boost from Ethereum Foundation

Key Takeaways

  • ​The Ethereum Foundation will match $500,000 in donations to support Roman Storm’s legal defense;
  • Storm faces up to five years if his appeal fails, while two other charges could still be retried;
  • Critics said the verdict could set a harmful precedent for developers of open-source code.

Ace quick missions & earn crypto rewards while gaining real-world Web3 skills. Participate Now! 🔥

Roman Storm’s Legal Defense Gets $500,000 Boost from Ethereum Foundation

The Ethereum ETH $3,909.15 Foundation has pledged to match up to $500,000 in new donations to support the legal defense of Roman Storm, co-developer of Tornado Cash.

Wei Wang, co-executive director of the foundation, stated in an August 7 post on X, "Privacy is normal, and writing code is not a crime". The pledge follows earlier donations that have already helped raise more than $2 million for Storm’s defense.

Storm’s supporters, including the group Free Pertsev & Storm, warned that Storm could face up to five years in prison if his appeal fails, and much longer if the government moves forward with the other two charges.

What Are Flash Loans? TOP Ways to Make Passive Income Explained

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

In July, Storm said his legal expenses were growing and asked for an extra $1.5 million. He explained that his legal team had been working long hours throughout the three-week trial, which added to the pressure.

The Ethereum Foundation's commitment comes after a New York jury found Storm guilty of running an unlicensed money transfer service. The jury could not agree on two other charges, money laundering and sanctions violations, which prosecutors could still retry.

Lawyer Jake Chervinsky described the verdict as “a sad day for DeFi". He argued that the law used in the case should not apply to someone who does not control user funds.

Changpeng Zhao, the former CEO of Binance $12.51B , recently asked a US bankruptcy court to reject a $1.8 billion lawsuit brought by the crypto exchange FTX. Why? Read the full story.

Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

Loading...
binance
×
Verified

CLAIM $100 BONUS

Changelly Welcome Reward
Rating
5.0