On November 21st, the Blockchain Association provided new support for six plaintiffs who sued the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury for sanctioning the mixer Tornado Cash. In its amicus brief submitted to the US Court of Appeals, the association argued that OFAC's decision to approve the privacy protocol was not only illegal, but also exceeded its statutory authority, and was both "arbitrary and capricious," violating the US Constitution.
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Blockchain Association supports lifting sanctions on Tornado Cash
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Cointime's Evening Highlights for May 24th
1. CryptoPunks Launches “Super Punk World” Digital Avatar Series -
Pudgy Penguins and Lotte strategically cooperate to expand into the Korean market, and the floor price rose by 3.1% on the 7th
The NFT series "Pudgy Penguins" has recently announced a strategic partnership with South Korean retail and entertainment giant Lotte Group on the X platform to expand its market in South Korea and surrounding areas. More information will be announced in the future. According to CoinGecko data, the floor price of Pudgy Penguins is currently 11.8 ETH, with a 7-day increase of 3.1%. -
CryptoPunks Launches “Super Punk World” Digital Avatar Series
Blue-chip NFT project CryptoPunks announced the launch of "Super Punk World" on X platform, which is the project's first release of 500 digital avatars inspired by the iconic CryptoPunks features and combined with Super Cool World attributes. It is reported that the series may launch auctions in the future, and more details about the collection and auction of this series will be announced soon. -
Drift Foundation: The governance mechanism is gradually being improved, and DRIFT is one of the components
The Drift Foundation stated on the X platform that the DRIFT token is a component of governance and a key element in empowering the community to shape the future. The governance mechanism is gradually improving, and more information will be announced soon. -
U.S. senators propose spending $32 billion to develop AI and build safeguards around it
A bipartisan group of four senators led by Chuck Schumer, the leader of the majority party in the United States, has proposed that Congress spend at least $32 billion over the next three years to develop artificial intelligence (AI) and establish safeguards around it. -
CryptoQuant: Bitcoin demand is now in acceleration mode again after two months of decline
On May 16th, cryptocurrency analysis company CryptoQuant stated in a report that despite a rebound in Bitcoin demand from the low point of the accumulation range, after two months of downward trend, Bitcoin demand is once again in "acceleration mode". -
Fed's Schmid: Low interest rate environment "may not necessarily" return
The Federal Reserve's Schmid said that the overall economy is still strong. Inflation is still too high, and the Federal Reserve has more work to do. Interest rates may remain high for a period of time, and I prefer to reduce the Federal Reserve's balance sheet as much as possible under the premise of compliance with the operating framework. The low interest rate environment may "not necessarily" return. -
Tornado Cash Developer Alexey Pertsev Sentenced to 64 Months in Prison
On Tuesday, a Dutch judge ruled that Tornado Cash developer Alexey Pertsev was guilty of money laundering. The court sentenced Pertsev to 64 months in prison. In August 2022, Tornado Cash was blacklisted by the US government, and this is the first time the developer has been sentenced to prison in the Netherlands. At the time, the US Treasury Department claimed that Tornado Cash was a key tool for the North Korean hacker group Lazarus. The Lazarus group is linked to the $625 million hack of Axie Infinity's Ronin Network and other major cryptocurrency thefts. -
Dutch court finds Tornado Cash founder Alexey Pertsev guilty of money laundering
A Dutch court composed of three judges has ruled that Tornado Cash developer Alexey Pertsev committed the crime of laundering $1.2 billion in illegal assets on a cryptocurrency mixing platform. It is expected that the panel will also sentence 31-year-old Russian resident Alexey Pertsev on Tuesday, and Pertsev's lawyer will have 14 days to appeal the judge's ruling. Experts say that this ruling will reshape the privacy protection process in the decentralized finance field and have a "chilling effect" on the development of open-source software that provides financial privacy protection tools for users. -
Blockchain Asset Management announces launch of a dedicated blockchain fund for accredited investors
Blockchain Asset Management, a cryptocurrency fund with a scale of $100 million, announced the launch of an exclusive blockchain fund for qualified investors. The specific amount of funds raised by the fund has not been disclosed yet, but it is said to have reached "eight figures", which means it is in the tens of millions of dollars. In addition, the investment threshold for the new fund is $100,000, and all investors are required to meet the approved standards (annual income exceeding $200,000, net assets exceeding $1 million).
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