Please enter CoinGecko Free Api Key to get this plugin works.
HomeCrypto NewsVitalik Buterin Donated $1M in Ether to Coin Center Hours After Tornado...

Vitalik Buterin Donated $1M in Ether to Coin Center Hours After Tornado Cash Victory

-

Ethereum co-founder Vitalik Buterin donated 320 ether — worth over $1 million — to crypto think tank Coin Center on Tuesday night, according to blockchain data.

Buterin’s donation came mere hours after a U.S. appeals court overturned U.S. sanctions against embattled crypto mixing service Tornado Cash, ruling that Tornado Cash’s smart contracts “are not the property of a foreign national or entity” and thus cannot be blocked under the International Emergency Economic Powers Act (IEEPA). By imposing sanctions on Tornado Cash, the Treasury Department’s Office of Foreign Asset Control (OFAC) “overstepped its congressionally defined authority,” the court ruled.

Read more: Tornado Cash Sanctions Overturned by U.S. Appeals Court

Coin Center has been a key player in the crypto industry’s fight against the U.S. government’s sanctions against Tornado Cash. OFAC sanctioned Tornado Cash in August 2022, claiming it helped to launder more than $7 billion in cryptocurrency, including hundreds of millions of dollars stolen by North Korea’s notorious hacking group, the Lazarus Group.

In October 2022, Coin Center filed suit against Treasury Secretary Janet Yellen, the Treasury Department, OFAC and OFAC’s then-Director Andrea Gacki accusing them of overstepping their authority and violating the First Amendment in sanctioning Tornado Cash. When a district court judge dismissed the case a year later, Coin Center appealed his ruling with a higher court, the U.S. Court of Appeals for the Eleventh Circuit. That case is still ongoing.

In addition to fighting sanctions against Tornado Cash, Coin Center has been involved in the defense of Tornado Cash’s developers, filing an amicus brief in support of developer Roman Storm’s motion to dismiss the government’s case against him.

Though Buterin hasn’t been as directly involved in the Tornado Cash cases as Coin Center, he has made his support — for both the mixing service itself as well as its embattled developers — clear. Shortly after OFAC first sanctioned Tornado Cash, Buterin publicly stated that he’d used the service to donate money to Ukraine. Earlier this year, he donated 30 ETH, worth over $100,000, to the legal defense fund for Storm and fellow developer Roman Semenov.

Buterin did not respond to CoinDesk’s request for comment.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

LATEST POSTS

BitsLab Strengthens Web3 Security with Crowd Testing Initiative

BitsLab, in collaboration with leading white hat hackers and Capture The Flag (CTF) team members, has introduced the “Web3 Crowd Testing Program.” This initiative aims...

Russia Turns to Crypto to Bypass Western Sanctions in Oil Trade: Reuters

Russia has turned to cryptocurrencies to facilitate oil trade with China and India, effectively bypassing Western sanctions in its $192 billion oil trade, Reuters reported,...

Imagen Network Revolutionizes Web3 Social Interaction

Imagen Network (IMAGE) is reshaping the Web3 social landscape by incorporating artificial intelligence (AI) to enhance data ownership, allowing users to maintain complete control over...

Index Gains 3.3% as All Twenty Assets Move Higher

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.The CoinDesk 20 is currently trading at...

Most Popular