The Tornado Cash community faces significant fallout after developer Roman Storm was found guilty of operating an unlicensed money transmitting business, affecting TORN's value.
Verdict and its Implications
Roman Storm, a key developer of Tornado Cash, was found guilty of running an unlicensed money transmitting business. The jury could not reach a consensus on more serious charges related to money laundering and violations of U.S. sanctions. Despite this, the partial verdict has already cast a significant shadow over the protocol's future.
TORN Price Analysis
As of this writing, Tornado Cash is trading at $10.38, which is a sharp drop of 16.99% in the last 24 hours and a 23.03% decline over the past week. The market cap has decreased to $4.62 million, while trading volume surged by 399.12% to $428.81k. The price dipped to $9.92 before rebounding, with significant resistance at $13.079.
Frequently Asked Questions
Among the questions that investors are pondering include why TORN’s price fell, whether the token is oversold at current levels, and what key levels to watch for moving forward. Answers to these questions help to better understand the current market landscape and trading options.
The verdict against Roman Storm and its implications for Tornado Cash raise numerous questions about the future of decentralized privacy projects. Monitor market changes and potential investor reactions.
