Tornado Cash Kurs TORN

It’s safe to say that bitcoin went through one of its most painful 24 hours as the asset plunged by over 10%, which in terms of USD meant a $10,000 decline. Such massive volatility not only brought the entire crypto market down but caused mind-blowing liquidation numbers of $1.6 billion on a 24-hour scale. One particular wrecked position, though, caught many people’s attention. Data from CoinGlass shows that nearly 390,000 traders have been wrecked in the past day. Naturally, almost all of the $1.59 billion in liquidations was caused by longs, as they comprise roughly 90% of the total ($1.43 billion). A single whale, though, operating on the Justin Sun-affiliated exchange, HTX, was hit the hardest during this most recent crash by losing $39.62 million. This largest liquidation order involved the BTC/USDT trading pair and represents over 5% of all bitcoin positions that were wrecked today. Cryptocurrency Liquidations. Source: CoinGlass This comes amid a highly volatile and painful day for the cryptocurrency market. Bitcoin’s price started to head south yesterday afternoon, despite Strategy’s most recent purchase, and slipped from $96,000 to $94,000. However, the real turmoil came today as the cryptocurrency plunged to $86,000, which became its lowest level since mid-November. Moreover, BTC’s losses since Friday have extended to over $13,000, and here are some of the potential reasons behind this massacre. After losing such a substantial chunk of its value within mere days, analysts are now torn about whether this is a regular correction during a bull market or it’s all over for this cycle. Ali Martinez noted that BTC has broken down from a parallel channel that started in November. He envisioned an even more steep crash that can take bitcoin south to $80,000. Consequently, he advised investors to be wary as there might be a more favorable time to ‘buy the dip.’ The post Someone Was Liquidated for $40 Million as Bitcoin Slumps by $10K Daily appeared first on CryptoPotato.

The post Tornado Cash Co-Founder Released From Prison, Plans to Focus on Appeal appeared first on Coinpedia Fintech News After Donald Trump pardoned Silk Road founder Ross Ulbricht, calls from the crypto community for the release of the Tornado Cash co-founders surged, drawing significant attention. This momentum led to the release of Alex Pertsev, a developer of the cryptocurrency mixer Tornado Cash, from pretrial detention in the Netherlands. Facing money laundering charges, Pertsev has been released under electronic monitoring, enabling him to prepare his appeal. TORN Rallies As Regulator Releases Tornado Co-founder Alex Pertsev, co-founder of the cryptocurrency mixing service Tornado Cash, has announced that a Dutch court has put a hold on his pretrial detention and allowed him to switch to electronic monitoring as he gets ready to appeal. Alex said, “Freedom is priceless, but my freedom cost a lot of money. My house arrest was only possible thanks to the work of lawyers, who were paid from your donations. My fight is not over yet and for a final and confident victory I still need your help.” The announcement led to a surge in the price of Tornado Cash’s token, TORN, which jumped nearly 20% before settling at $13.72. Dutch authorities arrested Alex Pertsev in August 2022 following U.S. sanctions against Tornado Mixer and its developers. Pertsev faced charges of facilitating money laundering and being negligent in preventing illegal financial activities on the platform. In May 2024, a Dutch court sentenced Pertsev to five years in prison, finding that his involvement with Tornado Cash helped launder criminal funds. The court acknowledged that Tornado Cash could be a neutral tool, but stated that developers had a responsibility to prevent its misuse. After his arrest, the Russian national began actively appealing his conviction and requesting bail. Despite several attempts, his bail requests were continually denied. His defense argues that he merely created open-source software and should not be criminalized for how others choose to use it. Debate Continues Over Developer’s Liability On November 26, the Fifth Circuit Court of Appeals directed the US Treasury’s Office of Foreign Assets Control (OFAC) to remove addresses linked to Tornado Cash from its list of blocked individuals and entities. This decision was viewed as a major victory for Pertsev and Roman Storm, another developer of Tornado Cash who was arrested in August 2023 and is awaiting trial. Also read: Ethereum Community Backs Developer and Tornado Cash Co-founder, Calls for Trump’s Assistance The court noted that sanctioning the protocol wouldn’t stop malicious actors from using it since smart contracts operate independently and cannot be owned, controlled, or changed. The ruling also suggested that legislation be updated to better regulate the use of crypto-mixers. Advocates argue that these services are mainly intended to protect user privacy. However, there have been many cases where criminals have used these services to launder money, which has drawn the attention of law enforcement agencies around the world.

Have seen quite a few takes about how tariffs are good for bitcoin or good for the US economy or how this is just market manipulation. But bitcoin is mainly a risk asset. Tariffs this aggressive are very negative for risk assets. And the economy will take a hit. The tariffs announced are considerably worse than what was expected by the market, as gradual tariffs or delayed implementation were seen as alternatives. So the S&P futures will open deeply in the red tonight and flush. The hope for crypto is that it has already dropped a lot in anticipation, considerably reducing the downside. Particularly so for alts, which have been demolished. I'm torn between the entire market putting a major local bottom on Monday, or BTC re-testing the bottom of the range (90k). Maybe both. Then we have to hope retaliation is not extreme. And hope that the US and other countries find common ground fast so tariffs may be pared back fast, and soon. Yes, that's a lot of hoping. Headline risk is going to be major in the coming days. Both ways. News of any agreements would send risk assets soaring. Macro-wise, expect the dollar to surge further at first. Then unless tariffs pared back the US economy would take a hit, weakening the dollar. Tariffs would drive inflation, possibly a one-time hit, possibly not, either way turning the Fed hawkish. Question is how much. More uncertainty. This would be enough to start a sustained bearish trend were not for significant upside risk as well coming from the tax cutting and deregulation fronts, which makes things very murky. I am aware readers generally seek for clear directional ways and reassurance. Unfortunately can't provide that at the time. I still don't think the cycle top is in, and expect equity indices to print ATHs later in the year. But the probability of being wrong has increased. Particularly on the latter. As I said a week ago, I've taken my long-term hat off. This is a traders' market. p.s.: the time to panic was Saturday, not today.

$XMR price poised for 140% rally after $TORN decision! #Monero’s long consolidation phase might end soon as bullish technicals hint at a potential all-time high. 👉🏻Details:

Several significant token unlocks are scheduled for the upcoming week, involving various cryptocurrencies such as SUI, OP, ZETA, and DYDX. These unlocks are expected to impact the circulating supply and market value of the respective tokens. Below are the details of the major token unlocks set to occur next week: Sui ($SUI ) will unlock approximately 64.19 million tokens on September 1 at 8:00 AM Beijing time. This represents 2.47% of its current circulating supply, with an estimated value of $65 million. Optimism ($OP ) is set to unlock around 31.34 million tokens on August 31 at 8:00 AM Beijing time. This accounts for 2.64% of its circulating supply, valued at approximately $50.5 million. ZetaChain ($ZETA ) will unlock about 53.89 million tokens on September 1 at 8:00 AM Beijing time. This constitutes 15.71% of its circulating supply, with an estimated value of $33 million. $DYDX is scheduled to unlock around 8.33 million tokens on September 1 at 8:00 AM Beijing time. This represents 3.67% of its circulating supply, valued at approximately $9.8 million. Yield Guild Games ($YGG ) will unlock approximately 14.08 million tokens on August 27 at 10:00 PM Beijing time. This accounts for 3.70% of its circulating supply, with an estimated value of $6.8 million. Echelon Prime ($PRIME ) is set to unlock around 750,000 tokens on August 31 at 8:00 AM Beijing time. This represents 1.68% of its circulating supply, valued at approximately $5.4 million. Ethena ($ENA ) will unlock about 14.89 million tokens on September 1 at 3:00 PM Beijing time. This constitutes 0.82% of its circulating supply, with an estimated value of $5.4 million. SingularityNET ($AGIX ) is scheduled to unlock around 8.32 million tokens on August 28 at 8:00 AM Beijing time. This represents 1.58% of its circulating supply, valued at approximately $4.3 million. Manta Network ($MANTA ) will unlock approximately 1.87 million tokens on September 1 at 7:59 AM Beijing time. This accounts for 0.50% of its circulating supply, with an estimated value of $1.5 million. Euler ($EUL ) is set to unlock around 45,600 tokens on August 30 at 6:54 AM Beijing time. This represents 0.24% of its circulating supply, valued at approximately $260,000. Tornado Cash ($TORN ) will unlock about 91,700 tokens on August 29 at 11:30 AM Beijing time. This constitutes 2.41% of its circulating supply, with an estimated value of $220,000. 1inch ($1INCH ) is scheduled to unlock around 64,000 tokens on August 30 at 8:00 AM Beijing time. This represents 0.01% of its circulating supply, valued at approximately $18,000. Forta ($FORT ) will unlock approximately 50,000 tokens on September 1 at 8:00 AM Beijing time. This accounts for 0.01% of its circulating supply, with an estimated value of $6,500.