Tornado Cash co-founder Roman Storm has seen support from crypto industry leaders after a Manhattan jury convicted him on Wednesday of operating an unlicensed money transmitting business.Tornado Cash co-founder Roman Storm has seen support from crypto industry leaders after a Manhattan jury convicted him on Wednesday of operating an unlicensed money transmitting business.
Crypto community rallies behind Roman Storm as court trial extends
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- Crypto industry leaders have expressed their displeasure with the recent court decision in Roman Storm's case.
- Top crypto firms, including the Ethereum Foundation, are donating to offer Storm legal aid as his trial continues.
- A Manhattan jury on Wednesday convicted Storm of operating an unlicensed money transmitting business before adjourning the case.
Tornado Cash co-founder Roman Storm has seen support from crypto industry leaders after a Manhattan jury convicted him on Wednesday of operating an unlicensed money transmitting business.
Roman Storm garners support from crypto industry, Ethereum Foundation donates $500,000
The crypto industry has rallied behind Roman Storm, criticizing the DOJ for pursuing charges and arguing that writing code isn't a crime.
Industry leaders have contributed to Storm's legal defense, with the Ethereum Foundation donating an extra $500,000 to the effort.
"The Ethereum Foundation has generously offered to match up to $500k in further donations to support Roman's legal aid," an X account devoted to supporting Storm's case posted on Friday.
The Ethereum Foundation previously donated $500,000 to Storm's case in June and promised to match up to $750,000 in donations from the community at the time.
The support comes just days after the Tornado Cash co-founder was convicted on one of three federal charges. A Manhattan jury passed a guilty verdict on Storm for count 2, which claims he operated an unlicensed money transmitting business.
The jury failed to agree on the other two counts for money laundering and sanctions violations, but is reportedly planning to retry Storm on the charges.
"It is not surprising the jury could not agree on those two counts - the DOJ made a ton of mistakes and they should not retry Roman on those charges," wrote Defi Fund Executive Director Amanda Tuminelli in a Wednesday X post.
Several industry leaders expressed that the Tornado Cash co-founder should not be held liable for the actions of bad actors on the platform, particularly since it lacked custody or control over funds.
"Roman Storm shouldn't be prosecuted as a money transmitter. The only function his software and servers provided is broadcasting cryptographically signed user messages without any modification," Solana founder Anatoly Yakovenko wrote in an X post on Wednesday.
Other crypto community members also argue that the conviction poses a threat to privacy-focused technology and developers, with the potential to alter the future of DeFi if it holds.
Storm is yet to face sentencing on the case, but is reportedly set to appeal the current verdict of the jury.
In 2023, federal authorities accused Storm of enabling more than $1 billion in illegal crypto transactions, allegedly involving North Korea's sanctioned Lazarus Group. He was also charged with operating an unlicensed money transfer business and breaching sanctions laws.
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