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>>Funds are being raised by the Ethereum Foundation and Keyring Network to support the developers of Tornado Cash.

Funds are being raised by the Ethereum Foundation and Keyring Network to support the developers of Tornado Cash.

crypthub

1 day ago

Fundraising Initiative Launched

The Ethereum Foundation and Keyring Network have initiated a fundraising effort to support Roman Storm and Alexey Pertsev, developers facing legal challenges related to Tornado Cash. The purpose is to "pioneer open-source legal defense funding," highlighting the organizations’ commitment to supporting developers. Early protocol fees from zkVerified vaults on the Ethereum mainnet will be directed towards their legal defense. This action underscores the importance of privacy in the DeFi space.

Supporting Open-Source Development

Keyring Network's CEO emphasized the belief that privacy is a fundamental right and that developers shouldn't face criminal liability for code creation. The initiative aims to demonstrate how zkVerified DeFi can balance compliance, safety, and privacy. By contributing to the defense of Storm and Pertsev, the organizations stand in solidarity with the developers who led the way in building privacy-preserving protocols. Alex Pertsev expressed deep gratitude for the donations.

Legal Context and Concerns

Roman Storm was found guilty on a criminal charge related to conspiracy to commit money laundering and sanctions violations concerning Tornado Cash. Prosecutors alleged over $1 billion, including funds linked to North Korea’s Lazarus Group, was laundered through the platform. The case has sparked debate regarding the legal boundaries for developers creating privacy-focused protocols. This outcome could have significant implications for the future of open-source development.