The Ethereum Foundation is showing its support for Roman Storm, co-founder of Tornado Cash, by pledging up to $500,000 for his legal defense. This comes after a recent trial resulted in a mixed verdict.
A Partial Victory, and a Long Road Ahead
Roman Storm was recently found guilty on one of three charges against him related to his involvement with Tornado Cash. While the jury couldn’t reach a unanimous decision on two charges (conspiracy to commit money laundering and conspiracy to commit sanctions violations), he was convicted of conspiracy to operate an unlicensed money transmitting business. This carries a potential 5-year prison sentence. Storm, however, remains defiant, vowing to fight the conviction. He faces a potential 5-year sentence if the appeal fails, and even longer if the government retries the other charges.
The Ethereum Foundation Steps In
A fundraiser, “Free Pertsev and Storm,” announced the Ethereum Foundation’s significant contribution to match donations up to $500,000. The fundraiser emphasizes the importance of this case, stating that the outcome will set a precedent for developers worldwide. The background to this is the US Treasury’s sanctioning of Tornado Cash in 2022 for allegedly facilitating money laundering, including a significant amount by the North Korea-linked Lazarus Group.
What Happens Next?
The legal battle is far from over. Legal experts explain that before an appeal, there are several possibilities: Storm could request a new trial, or a judgment of acquittal. The judge will then decide whether the conviction stands. If it does, sentencing could proceed. Alternatively, the government could retry Storm on the charges the jury couldn’t decide on. Regardless of the district court’s decision, either Storm or the government could appeal the final ruling.
