Roman Storm Seeks Urgent $500,000 Ahead of Tornado Cash Trial

Roman Storm, co-founder of the crypto mixing service Tornado Cash, has issued an urgent appeal for financial support ahead of his high-stakes trial on Monday , where he faces charges of money laundering and violating US sanctions. In a post on X on Saturday, Storm said he needs to raise $500,000 immediately and will require an additional $1 million in the coming weeks to sustain his legal defense. Storm emphasized that his team is working relentlessly to “defend code as free speech, protect software development, and push back against government overreach that threatens us all.” The appeal comes amid growing concerns in the crypto community about the potential precedent the case may set for open-source software developers. Legal Costs Soar as Trial Length Doubles Free Pertsev & Storm, a legal aid organization supporting Tornado Cash’s founders, initially projected Storm’s legal expenses to be around $2 million. However, Storm revealed on Friday that the projected cost has surged to $3.5 million as the trial could now last up to four weeks. This duration is the double of the initial estimate of two weeks due to “complex legal arguments and unforeseen witnesses and evidence.” Storm was arrested in August 2023 on charges including money laundering, operating an unlicensed money transmitter, and conspiracy to violate US sanctions, facing a potential sentence of up to 45 years if convicted. His legal team attempted to delay the trial on Friday, arguing that prosecutors disclosed a witness after the court’s deadline. However, Judge Katherine Failla, who is overseeing the case, denied the postponement and ruled that the trial will proceed without references to the US Treasury’s sanctions on Tornado Cash, which were rescinded in March. In April, the DeFi Education Fund petitioned the Trump administration to halt what it described as the “lawless prosecution” of open-source developers, citing Storm’s case as a critical example. Crypto Community Rallies Support for Storm Storm’s fundraising efforts have so far reached approximately $1.96 million, representing 57% of his $3.5 million goal. Donations are being made in Ether, with amounts fluctuating based on market movements. At present, ETH is trading above $3,000, up 3% over the past 24 hours, according to CoinMarketCap data. The Ethereum Foundation announced last month that it would contribute $500,000 toward the co-founder’s legal defense and would match community donations up to $750,000. Additionally, Bill Warren of MetaCartel DAO confirmed that the organization has allocated all remaining funds in its treasury to support Storm’s cause, underlining the case’s significance within the crypto and open-source communities. The post Roman Storm Seeks Urgent $500,000 Ahead of Tornado Cash Trial appeared first on TheCoinrise.com .

Source: The Coin Rise