DOJ To Continue Legal Action Against Tornado Cash Developer Roman Storm

By: crypto news|2025/05/16 13:00:12
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The US Department of Justice (DOJ) has confirmed that it will proceed with federal criminal charges against Roman Storm, the developer and co-founder of the crypto mixing service Tornado Cash. This decision comes despite some adjustments to the charges. Under the adjustments, the DOJ will continue with the charges related to money laundering and sanctions evasion. But it will drop one part involving accusations that Storm ran an unlicensed money transmitting business.In a letter to federal court Judge Katherine Polk Failla, Jay Clayton, acting US Attorney for Manhattan, affirmed that the DOJ’s prosecution aligns with the policies outlined in the April 7, 2025 memo from the Deputy Attorney General. The U.S. Department of Justice announced it will proceed with charges against Tornado Cash co-founder Roman Storm, accusing him of conspiring to commit money laundering, evade sanctions, and transmit criminal proceeds, while dropping part of the unlicensed money transfer charges....— Wu Blockchain (@WuBlockchain) May 15, 2025DOJ Drops One Charge Against Storm but Moves Forward with Criminal AllegationsThe original charge against Storm for failing to comply with money transmitting registration requirements will be dismissed. However, the DOJ will press ahead with the allegation that Storm transmitted funds knowing they were linked to criminal activity.The DOJ’s decision to continue with this case contrasts with a recent shift in its approach towards crypto tools. The April 7 memo memo suggested a greater focus on pursuing individuals using crypto platforms for illegal activities, rather than prosecuting the platforms themselves. This move signals a potential policy shift under the more crypto-friendly Trump administration, though the DOJ has indicated no intent to drop the charges against Storm.Legal Battle Over Tornado Cash Intensifies with Storm’s Upcoming TrialStorm will face trial in a Manhattan federal courtroom on July 14, 2025. Prosecutors claim he used Tornado Cash to obscure crypto transaction origins and destinations. This mixer allegedly helped facilitate illicit transactions, launder money and evade US sanctions.Tornado Cash was sanctioned by the US Treasury in 2022. This was due to its reported involvement in facilitating over $7b in illicit transactions. However, in March 2023, the US Treasury quietly removed Tornado Cash from the sanctions list. This decision followed a federal appeals court ruling that immutable smart contracts cannot be sanctioned as property.This case follows legal action against Storm’s co-developer, Alexey Pertsev, who was sentenced to over five years in prison by a Dutch court last year. He was released under electronic monitoring in February pending an appeal. The post DOJ To Continue Legal Action Against Tornado Cash Developer Roman Storm appeared first on Cryptonews.

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On March 4, 2026, DDC Enterprise Limited (NYSE American: DDC) today announced preliminary, unaudited full-year financial performance for the year ended December 31, 2025. The company expects to achieve record revenue and record positive adjusted EBITDA, primarily driven by continued growth in its core consumer food business and overall margin improvement. The final audited financial report is expected to be released in mid-April 2026.


2025 Full-Year Financial Highlights


Revenue: Expected to be between $39 million and $41 million, reaching a new company high.


Organic Growth: Excluding the impact of the company's strategic contraction of its U.S. operations, core revenue is expected to grow 11% to 17% year over year.


Gross Profit Margin: Expected to be between 28% and 30%, reflecting continued operational efficiency improvements.


Adjusted EBITDA: The company expects to achieve a positive full-year result in 2025, a significant improvement from a $3.5 million loss in 2024, mainly due to rigorous cost controls and a higher-margin sales mix.


Core Consumer Food Business Performance


In 2025, DDC's core consumer food business maintained strong operational performance.


The company also disclosed Core Consumer Food Business Adjusted EBITDA, a metric that further excludes costs related to its Bitcoin reserve strategy and non-cash fair value adjustments related to its Bitcoin holdings from adjusted EBITDA to more accurately reflect the core business performance.


In 2025, Core Consumer Food Business Adjusted EBITDA is expected to be between $5.5 million and $6 million.


Bitcoin Reserve Update


In the first half of 2025, DDC initiated a long-term Bitcoin accumulation strategy, holding Bitcoin as its primary reserve asset.


As of December 31, 2025: The company holds 1,183 BTC.


As of February 28, 2026: Holdings increased to 2,118 BTC


Today's additional purchase of 65 BTC brings the company's total holdings to 2,183 BTC


DDC Founder, Chairman, and CEO Norma Chu stated, "We are proud to have closed 2025 with record revenue and positive adjusted EBITDA, demonstrating the steady growth of the company's consumer food business and the ongoing improvement in profitability. We are building a disciplined, growth-oriented food platform and strategically allocating capital to Bitcoin assets with a long-term view, aligning with our core beliefs. We believe that this dual-track model of 'Steady Consumer Business + Strategic Bitcoin Reserve' will help DDC create lasting long-term value for shareholders."


Adjusted EBITDA Definition
For the full year 2025, the company defines "Adjusted EBITDA" (a non-GAAP financial measure) as: Net income / (loss) excluding the following items:· Interest expense· Taxes· Foreign exchange gains/losses· Long-lived asset impairment· Depreciation and amortization· Non-cash fair value changes related to financial instruments (including Bitcoin holdings)· Stock-based compensation


About DDC Enterprise Limited


DDC Enterprise Limited (NYSE: DDC) is actively implementing its corporate Bitcoin Treasury strategy while continuing to strengthen its position as a leading global Asian food platform.


The company has established Bitcoin as a core reserve asset and is executing a prudent, long-oriented accumulation strategy. While expanding its portfolio of food brands, DDC is gradually becoming one of the public company pioneers in integrating Bitcoin into its corporate financial architecture.


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