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The Ethereum Foundation (EF) has pledged to donate up to $500,000 to Tornado Cash’s co-founder, Roman Storm, to support his ongoing legal defense. This follows the recent trial verdict that found Storm guilty of one of three charges.

Ethereum Foundation Supports Tornado Cash’s Co-Founder

On Thursday, the Free Pertsev and Storm fundraiser revealed that the Ethereum Foundation will match donations up to $500,000 to support the Tornado Cash co-founder’s legal defense following this week’s verdict.

In an X post, the fundraiser’s team explained that they “will need these funds and more to continue the fight for Roman at the trial court and on appeal. The outcome of these proceedings will set major precedent for developers worldwide.”

As reported by Bitcoinist, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Tornado Cash in August 2022 for failing to impose effective controls to prevent malicious actors from laundering funds through the protocol, including $455 million by the North Korea-linked hacking group, Lazarus Group.

Storm was detained and indicted following the Tornado Cash sanctions and charged with conspiracy to commit money laundering, conspiracy to commit sanctions violations, and conspiracy to operate an unlicensed money-transmitting business.

On August 6, the verdict of the long-awaited trial, which started on July 14 after being delayed twice, was announced. Notably, the jury was unable to come to a unanimous decision regarding two of the three charges: conspiracy to commit money laundering and conspiracy to commit sanctions violations.

Nonetheless, the jury found the Tornado Cash co-founder guilty of the remaining charge: conspiracy to operate an unlicensed money transmitting business, which could lead to a 5-year conviction for the crypto mixer’s co-founder.

After the verdict, he told journalist Elenor Terret that the verdict was “a big win. The ‘1960’ charge is bullshit and we’re going to fight it all the way. You know how President Trump said ‘fight, fight, fight’? We’ll do that too.”

As the Free Pertsev and Storm team detailed, “Roman 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.”

What’s Next For Storm’s Defense?

Unchained host and journalist Laura Shin interviewed former prosecutor Sam Enzer to discuss the mixed verdict and what’s next for the Tornado Cash co-founder. Enzer noted that before getting to appeal, “Roman gets to move for a new trial or a judgment of a quibble.” After that, “there will be a briefing on that. The court, Judge Failla will rule.”

As the former prosecutors explained, if the Judge rules that the conviction was proper on the conspiracy to operate an unlicensed money transmitting business count, they could proceed to sentencing. Additionally, the government could retry Storm on the two counts for which the jury was hung.

So, it is possible that they could be retried, or the judge could say, I think the conviction was inappropriate, and could say that on the counts that the jury hung on, those should have been acquitted.

Enzer asserted that if either of these “extreme” outcomes happens, the case could go on appeal after making its way through the district court, adding that “who appeals will depend on what the outcome is. If the government’s upset with the outcome, it’ll be them appealing. If Roman’s upset with the outcome, he’ll be appealing.”

Ethereum (ETH) is trading at $3,953 on the one-week chart. Source: ETHUSDT on TradingView

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We are proud to work closely with the USSS on our extensive investigation into crypto fraud schemes. Using social engineering techniques, fraudsters have built trust with their victims over time, an approach commonly known as “pig slaughter.” This joint effort has resulted in the largest USSS code attack, bringing it to approximately $225 million in total.

The USSS investigation targeted sophisticated scams that prey on individuals and invited them to fake cryptocurrency investments. Victims of the pig slaughter scheme are encouraged to deposit gradually increasing amounts, but only discover that their funds have been stolen in the end.

The $225 million in question was first frozen by Tether in 2023 after being linked to pig slaughter in a US Department of Justice investigation. The stolen funds were tied to the perpetrator’s accounts in a non-craked central exchange. Identifying victims and returning funds presented challenges and required considerable knowledge of blockchain analysis.

In March 2024, we joined several cryptocurrency exchanges in an intensive week of law enforcement sprint. Compliance and research teams provided rapid, real-time response to critical information requests, and timely provision of transaction and account information helped identify nearly 500 victims. This directly assisted the USSS in obtaining an unprecedented $225 million forfeiture seizure warrant for stolen funds.

We are dedicated to working with law enforcement to protect our cryptocurrency ecosystem. Our fast response approach and meticulous record keeping reflects our continued commitment to security, transparency and protection. They also have strict policies and procedures to protect the privacy of our clients, whilst providing data when there is a legal obligation.

We continue to actively participate in efforts aimed at identifying and suspending fraud, helping victims recover, and maintaining trust within the crypto community.

“Protecting our clients is our number one priority and we are proud to support our efforts to lead to this historic recovery of stolen funds. Our strict compliance practices, cutting-edge security protocols and on-chain research capabilities reflect our deep commitment to protecting our clients’ assets and maintaining confidence in cryptographic areas. Kraken Deputy Chief Compliance Director.

If you believe you are a victim of cryptocurrency fraud, we recommend reporting your case to your local authorities and the FBI Internet Crime Complaint Center at https://www.ic3.gov/. Your prompt reporting will help prevent future fraud.

President Donald Trump supports the idea of the US government buying one million Bitcoin (BTC), says Senator Cynthia Lummis.

In March, Lummis (R-WY) introduced the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act in the Senate.

If passed, the bill would establish a decentralized network of Bitcoin vaults operated by the Department of the Treasury, and it would implement a one-million-unit BTC purchase program so the US government could control approximately 5% of the top crypto asset’s supply.

Lummis said in a speech this week that she’s “particularly pleased with President Trump’s support” of her BITCOIN Act.

“The BITCOIN Act is the only solution to our nation’s $36 trillion debt. I’m grateful for a forward-thinking president who not only recognizes this but acts on it.”

The Wyoming senator, a longtime BTC advocate, says the potential legislation would secure the country’s position as “a global leader in financial innovation.”

“As Bitcoin comes into more usage, its use makes the whole system more secure, more robust and more capable of serving our needs all over the world.

We should be the global leader with this fantastic new ledger-based asset that is in a digital format that is going to be transformative of the everyday economy and puts the everyday American, in fact, the everyday worker all over the world, in control of their own money.”

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In today’s Capitol Hill’s powerful speech, Sen. Cynthia Ramis made her stance clear: the United States is out of hours and is out of traditional choice. “The Bitcoin Act is the only solution to our country’s 36T debt,” she said, noting that she has President Donald Trump’s support for her initiative. “We are grateful to the advanced president who not only recognizes this but acts on it.”

If enacted by law, the Bitcoin Act confirms that the US purchases 200,000 Bitcoin per year for five years.

Lummis laid out three American passes. Collapse under default and either make the spiral hyperinflation or climb using Bitcoin and technology. Her money is in the code. She believes that a fixed supply of Bitcoin will restore long-term financial discipline. “The system is built on trust. If we don’t pay back what we owe, that trust will disappear,” she said. “We’d hit something worse than the Great Repression.”

Inflation, she warned, would destroy working Americans if money was printed ongoing. “We’re talking about Zimabubwe, at the Weimar Republic level,” Ramis said. “Everything will be affordable. That’s not the future I want Americans to face.”

Lummis offers deflationary alternatives. “Technology increases productivity and reduces costs. It gives us room to grow faster than our debt,” she explains, referring to AI, robots and cryptography as the tools we need to turn the economy around. “They are the only real weapons we have.”

The Bitcoin Act, first introduced last summer and reintroduced at the 2025 Bitcoin for America summit, has increased bipartisan support in both the House and Senate.

Rep. Nick Begich is leading the accusation in the House. His version of the bill reflects Lummis’ Senate proposals and signals that increase inter-chamber integrity over Bitcoin policy. “Americans deserve a financial and monetary foundation built on assets that represent discipline, structure and confidence,” he tweeted today. “Bitcoin is distributed to all three and we are proud to be able to lead this effort at home with the Bitcoin Act.”

President Trump has already signed an executive order to create a federal Bitcoin Reserve using BTC seized through confiscation earlier this year to establish an estimated 200,000 BTC stockpile. Taxpayers do not cost anything. Executive Director Boheins confirmed that the reserve will be adding it to the reserve using a “basic neutral approach that doesn’t cost taxpayers a single dime.”

Trump’s executive order marks the United States as the world’s largest sovereign Bitcoin holder, but could be overturned by future administrations. Therefore, Ramis argues that not only executive action is essential to locking into a long-term national Bitcoin strategy. Lummis’ Bitcoin Act solidifies the program into law and ensures that the country accumulates much more.

Asset Manager Vanek estimates that if the US follows this roadmap, Bitcoin Reserve could offset up to $21 trillion in national debt by 2049.

Ramis closed with a warning about the fate of the dollar. “It didn’t go away. It just lost its strength,” she compared it to the British pound. “You’ll either buy the actual assets or get left behind.”

Robert Triggs / Android Authority

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06 March Bitfinex now supports USDT0 with Ink and Arbitrum One

Road Town, Tortola, British Virgin Islands – March 6, 2025 – Bitfinex (https://www.bitfinex.com), a leading digital asset trading platform, today announced USDT0 support for deposits and withdrawals. USDT0 is an ecosystem initiative launched by the consortium using Layerzero’s OFT standard, and is an Omnichain-enabled bridge version of Tether’s USDT, managed by the USDT0 consortium designed to expand USDT utility across the blockchain. Bitfinex customers will convert USDT balance directly to USDT0 on the platform and pull it out onto a supported blockchain.

This integration starts with Layer 2 Network Ink and Arbitrum One, allowing fast and cost-effective transactions, allowing customers to seamlessly deposit USDT0 into a Bitfinex wallet or withdraw it to an external private wallet. By supporting USDT0, Bitfinex allows customers to move value across the supported chain, simplifying the bridging process. Bitfinex will now be able to convert USDT0 with a 1:1 ratio to USDT, allowing customers to easily convert between the two. Ink and Arbitrum One are the first networks in this rollout.

“We look forward to supporting USDT0 on our platform, as it aligns with our mission to make it easy for our customers to access digital assets across our diverse ecosystem,” he said. Paolo Ardoino, CTO of Bitfinex. “With USDT0, customers will have the flexibility to leverage USDT stability on a variety of blockchains that do not currently offer native USDT. This is a key step towards an improved interoperability, increased liquidity and a more comprehensive digital asset landscape.”

USDT0 deposits and withdrawals were opened at UTC on March 6, 2025 at 11am.

To access USDT0 via bitfinex, go to https://www.bitfinex.com/

Please note that USDT0 is not directly issued or redemptionable by tether.

*All users of www.bitfinex.com are subject to Bitfinex Terms of Service (“TOS”). Please note that among other prohibited persons (as defined in TOS), US people (as defined in TOS) are strictly prohibited from directly or indirectly retaining, owning or operating their www.bitfinex.com account (as defined in TOS).

What is included in this press release is not an offer to buy and sell assets, including cryptocurrency. It is also not a solicitation, recommendation or approval of a trading course. The buying and selling of cryptocurrency on Bitfinex’s platform occurs based on TOS.

The content of this press release is of a general nature and does not address your personal standards or circumstances. The information provided in this press release should not be interpreted as financial, legal or other advice. You must conduct your own research and do not rely on the content mentioned in this press release. There are risks associated with the buying and selling of assets, including cryptocurrencies. For more information, see Bitfinex’s Risk Disclosure Statement at https://www.bitfinex.com/legal/exchange/risk.

About Bitfinex

Founded in 2012, Bitfinex is a digital token trading platform that provides cutting-edge services for traders and global liquidity providers. Bitfinex offers access to peer-to-peer financing, the OTC market and a wide range of digital token margin trading. Bitfinex’s strategy focuses on supporting experienced traders and liquidity providers around the world. For more information, please visit www.bitfinex.com.

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