Oh, what a jolly good day it is for Tornado Cash’s cheeky little token, TORN! 🎉 After a rather dreary spell of being on the naughty list of the U.S. Treasury, it has decided to jump up and down like a kangaroo on a trampoline, soaring more than 60%! Can you believe it? Talk about a comeback! 🦘
Thanks to a wise old federal court ruling at the end of 2024, it turns out that those clever little smart contracts can’t be labeled as “property” under American sanctions law. Who knew? It’s like saying a chocolate cake can’t be eaten! 🍰
As soon as the news hit the streets, TORN’s price did a marvelous leap from about $7.50 to a dizzying peak of $15.36! And guess what? Trading volume went up by a whopping 1860%! That’s more excitement than a cat in a room full of laser pointers! 😺
With the sanctions lifted, investors are feeling as confident as a peacock strutting its feathers. Most traders are rubbing their hands together, thinking this is a splendid turn of events for all those privacy-loving crypto projects. 🦚
In a rather amusing twist, the Fifth Circuit of the U.S. Court of Appeals declared that Tornado Cash’s smart contracts are not property for the International Emergency Economic Powers Act. So, the Treasury’s ability to throw sanctions around like confetti has been curtailed! 🎊
But hold your horses! Even though Tornado Cash has been delisted from the Specially Designated Nationals (SDN) list, the legal shenanigans are far from over. Roman Storm, one of the co-founders, is set to face the music in July 2025 for some rather serious charges. And poor Roman Semenov is still stuck on that pesky SDN list! 😬
While the Treasury’s actions have cleared a bit of the gloomy fog, Tornado Cash still has some legal and reputation-related hiccups to deal with. But fear not! The TORN token is basking in the renewed market spotlight, fueled by hope and dreams of a bright future in the DeFi wonderland! 🌈
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2025-03-21 23:01