- Roman Storm’s Tornado Cash trial nears closing, with final arguments expected next week, impacting crypto developers.
- Bitcoin fell below 116000 dollars, triggering 700 million dollars in market liquidations in 24 hours.
- 35 public companies now hold over 1000 BTC each, showing growing corporate trust in crypto.
Crypto Trial Nears End for Tornado Cash Founder
The crypto world is buzzing as Roman Storm’s trial, the co-founder of Tornado Cash, is about to wrap up. Inner City Press says Judge Katherine Failla expects both sides to give their final arguments by Tuesday or Wednesday next week.
Storm’s lawyers started their defense on Thursday with Ethereum developer Preston Van Loon testifying, and they might call up to five witnesses total.
Storm faces charges like money laundering and breaking US sanctions because of his work on Tornado Cash, a crypto mixing tool. It’s still unclear if he’ll speak in court, but this case could change things for crypto developers everywhere.
This trial has a lot of people in the crypto community talking. Storm’s team says he just wrote code and didn’t control how it was used, but prosecutors argue he helped criminals hide money.
The jury’s decision could affect how the law views crypto developers, and many are hoping for a ruling that keeps innovation safe. It’s a big moment for crypto, and everyone’s waiting to see what happens next.
Bitcoin Takes a Hit, Companies Keep Buying
Bitcoin’s price dropped below 116000 dollars today, causing a huge 700 million dollar loss in the crypto market. CoinGlass says 585.86 million dollars of that came from long positions, with Bitcoin losing 140.06 million dollars as it fell 2.63 percent to 115356 dollars.
Ether also took a hit, losing 104.76 million dollars. The sudden drop surprised 213729 traders in just 24 hours, showing how wild the crypto market can be.
Meanwhile, more companies are jumping into Bitcoin. Fidelity’s Chris Kuiper says 35 public companies now hold at least 1000 BTC each, worth over 116 billion dollars. That’s up from 24 companies earlier this year, thanks to growing trust in crypto, especially after President Trump’s plan for a federal Bitcoin reserve.
The US leads with 94 companies, followed by Canada and the UK. Even with price swings, Bitcoin’s becoming a big deal for business.
Also Read: Bitcoin price dips to $107K despite $1B spot ETF inflow — What’s causing the decline?
