Memecoins

Vitalik Buterin Backs Tornado Cash Legal Fund with Generous 30 ETH Contribution

Buterin donates to Tornado Cash Legal Fight

Vitalik Buterin donated 30 ETH in support of the Tornado Cash developers Alexey Pertsev and Roman Storm. The fund has raised over 593 ETH so far to help the developers in their legal battles. Pertsev, a Dutch judge, recently found him guilty of money-laundering and sentenced him to more than five years behind bars. Buterin also discussed the diverse cultures created by Ethereum’s layer-2 solutions. Analysts anticipate that spot ETH ETFs could be launched by the end of this month.

Tornado Cash Dev Found Guilty

A panel of Dutch judges found Alexey Prittsev guilty of money-laundering earlier this month. Pertsev, a Russian citizen, was convicted of money laundering in the Netherlands by a panel of judges. The prosecution argued that Tornado Cash facilitated criminal activities. Pertsev received a five-year and four-month prison sentence.

Tornado Cash is a cashback program

Tornado Cash allows users to anonymize their Ethereum transactions using “pools.” These pools, managed by smart contracts, function like a bank without individual accounts. Users deposit tokens into these pools, which accept specific tokens at set amounts. The pooling system makes it impossible to track the source of withdrawals. The platform supports multiple cryptocurrencies and operates across various networks, with most transactions conducted in ETH on Ethereum’s blockchain.

Vitalik Buterin: Ethereum Subcultures Layer 2

Vitalik Buterin shared his views on Ethereum layer-2 solutions, emphasizing that they foster diverse subcultures that expand the Ethereum ecosystem. Buterin highlighted how these subcultures, such as “cypherpunks,” “regens,” and “degens,” contribute to the scaling, design, and application choices in the blockchain space. Despite differences among subcultures, Buterin believes they can coexist and bring unique contributions to the Ethereum ecosystem.

By the end of June, it is possible to launch spot ether ETFs

Analysts predict that the US could launch spot Ether ETFs by June. BlackRock filed for the iShares Ethereum Trust ETHA with the SEC on May 29, signaling progress towards launching spot Ethereum ETFs. The ETF must receive approvals before trading can begin, with expectations for launch closer to July 4th. BlackRock’s amended S-1 form includes details on seed capital investors and allocation of funds to kickstart trading for the ETHA ETF.

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