Tornado Cash Price Soars 383% In A Week as Court Reverses US Sanctions Ruling And Traders Pivot To This Staking Crypto With 100X Potential
The Tornado Cash price has soared 383% in the past week and 13% in the last 24 hours to trade at $16.49 as of 3:20 a.m. EST on a 30% drop in trading volume to $82 million. This surge comes as a U.S. federal appeals court overturned Treasury Department sanctions against Tornado Cash, a cryptocurrency mixer accused of facilitating $455 million in laundering by North Korea’s Lazarus Group. The court ruled that Tornado Cash’s immutable smart contracts, designed to enhance transaction privacy, do not qualify as “property” under the International Emergency Economic Powers Act (IEEPA), thus exceeding the Treasury’s authority. Tornado Cash $TORN spiked +700% after US court rules sanctions placed against @TornadoCash were unlawful. Despite the price hovering around ~$20 (-96% from its ATH at $408), emission on $TORN supply has indicated its unlocked supply to be similar in value after almost 4 years.… pic.twitter.com/ih8YscxK8o — Tokenomist (...