In a show of support, the Ethereum Foundation has committed to matching donations, up to a total of $500,000, to aid the legal defense of Roman Storm, a key developer behind Tornado Cash.
Wei Wang, a co-executive director at the Ethereum Foundation, emphasized the importance of privacy with a statement posted on X on August 7, declaring, “Privacy is a fundamental right, and writing code is not a criminal act.” This commitment follows previous fundraising efforts that have already generated over $2 million to support Storm’s legal battle.
The Free Pertsev & Storm advocacy group and other supporters have issued a stark warning, noting that if Storm’s appeal is unsuccessful, he could face a prison sentence of up to five years. Moreover, they caution that additional charges pursued by the government could significantly extend his potential incarceration.
Did you know?
Subscribe – We publish new crypto explainer videos every week!
What is a Crypto Wallet? (Explained With Animation)
In light of escalating legal costs, Storm revealed in July that he needed an additional $1.5 million for his defense. He cited the extensive hours put in by his legal team throughout the three-week trial as a contributing factor to the increased expenses.
The Ethereum Foundation’s pledge follows a verdict from a New York jury that found Storm guilty of operating an unlicensed money transmitting business. However, the jury was unable to reach a consensus on two other charges – money laundering and sanctions violations – leaving the possibility of a retrial on those counts open.
Legal expert Jake Chervinsky has characterized the verdict as “a disappointing moment for decentralized finance (DeFi)”. He contends that the legal framework used in the case should not be applied to individuals who lack control over user funds.
Separately, Changpeng Zhao, previously the CEO of Binance, has recently requested a US bankruptcy court to dismiss a significant $1.8 billion claim filed by the FTX crypto exchange. Dive into the complete article for all the details.