In a significant move for the crypto community, the Ethereum Foundation has teamed up with Keyring Network to support the legal defense of Tornado Cash developers Roman Storm and Alexey Pertsev. This initiative, launched on Thursday, aims to raise funds to protect these developers amid increasing regulatory pressures on privacy tools. The source notes that this collaboration highlights the growing concern over the implications of regulatory actions on innovation in the blockchain space.
Campaign Success and Community Support
As of Friday morning, the campaign has successfully raised over $22,000, showcasing strong community support. The funds are generated from protocol fees accrued by Keyring's ZkVerified permissioned vaults during their initial two months of operation. This innovative funding model allows early users of the vaults to directly contribute to the legal defense of developers focused on privacy solutions.
Significance of the Initiative
This initiative represents one of the first organized efforts by prominent crypto organizations to provide financial backing for open-source legal defense. As global scrutiny on privacy tools intensifies, such campaigns are becoming increasingly vital for the protection of developers and the principles of privacy in the blockchain space.
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