Tornado Cash Fallout Sparks Dragonfly’s Stark Warning: Is U.S. Crypto Facing Its Biggest Chill Yet?
Source: X
For his part, Jake Chervinsky noted that the fight for Tornado Cash was an ‘existential’ threat for the sector that seeks to advance privacy.
That said, Tornado Cash was sanctioned in 2022 for the alleged facilitation of money laundering during the Biden Administration.
It was later lifted from the sanctioned list in March 2025 when President Donald Trump resumed office. But the developers are yet to be cleared.
With early investors now under scrutiny, too, it remains to be seen how the case will evolve.
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