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"While publicly claiming to offer a technically sophisticated privacy service, Storm and Semenov in fact knew that they were helping hackers and fraudsters conceal the fruits of their crimes. Today’s indictment is a reminder that money laundering through cryptocurrency transactions violates the law, and those who engage in such laundering
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“It is undisputed that Tornado Cash uses smart contracts to provide a layer of privacy for its users by allowing them to deposit crypto assets in one wallet and then withdraw assets from a different wallet. Plaintiffs claim that as of 2020, the smart contracts are immutable, autonomous software applications
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Cash App, a multipurpose financial app, offers various capabilities, including money transfers, investment options and cryptocurrency purchases. Serving as a comprehensive financial tool, Cash App provides users the capacity to handle transactions, invest in stocks, and explore digital currencies like Bitcoin (BTC). The app aims to streamline financial tasks and
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied A district court judge sided with the U.S. Treasury Department in a lawsuit that involves Coinbase and sanctions imposed on crypto mixer Tornado Cash. The decision came as a blow to six plaintiffs who had challenged
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A federal judge in Texas has sided with the United States Department of the Treasury by granting a motion for summary judgment in a lawsuit concerning Tornado Cash brought by six individuals backed by crypto exchange Coinbase.In an Aug. 17 filing in U.S. District Court for the Western District of
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A group of crypto investors and developers lost a lawsuit funded by Coinbase which sought to argue that the U.S. Treasury Department overstepped its authority in sanctioning Tornado Cash, a mixing service. Source
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Tether has announced modifications to its USDT issuance strategy, discontinuing support on the Bitcoin, Kusama, and Bitcoin Cash while indicating potential future collaborations. Tether, the issuer of the stablecoin USDT, has announced significant changes to its support
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Crypto investors frequently select various portfolios depending on the potential outcomes of different projects. In recent months, popular options for diversification include Quant (QNT), Bitcoin Cash (BCH), and Pomerdoge (POMD). Quant holds firm amid market shifts QNT is
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied In response to a shrinking market share and increasing competition, Circle is strengthening its position with a $1 billion cash buffer to counteract challenges posed by dominant non-crypto entities like PayPal. Circle’s USD coin faces market pressure The
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Demand for blockchain-based T-bill offerings has been steadily rising as the yield on U.S. government debt, widely considered as risk-free, surpassed yields in decentralized finance (DeFi). Digital asset firms, crypto investment funds and protocol treasuries often hold substantial amount of cash in stablecoins. Tokenized Treasuries offer them a shield from
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