Buy Crypto- Markets
Futures- Spot
- Copy Trade
- Earn
- More
The prosecution is considering filing criminal charges against Tornado Cash investor Dragonfly.
BlockBeats News, July 26th, according to Coindesk's report, on a public court hearing on Friday, federal prosecutors disclosed to the judge that they are considering filing criminal charges against some employees of crypto venture capital firm Dragonfly Capital due to their involvement in a 2020 investment in the privacy tool Tornado Cash, including managing partner Tom Schmidt.
This statement came during a recess in the hearing of Tornado Cash developer Roman Storm. Storm is currently facing charges of conspiracy to commit money laundering, operating an unlicensed money transmitting business, and violating international sanctions, with a maximum sentence of 45 years in prison if convicted.
In response, Dragonfly's managing partner Qureshi issued a statement on Friday on the X platform: "We strongly believe in the privacy rights of U.S. citizens—the greatest unsolved problem in the crypto space—and therefore stand by this investment. We have never been involved in the operation of Tornado Cash or interacted with malicious users, always requiring portfolio companies to comply with the law, and believe Tornado Cash itself has a legitimate right to exist. Prosecuting a venture capital firm when a portfolio company is suspected of misconduct would set a dangerous precedent." He revealed that the company has been fully cooperating with the investigation since 2023 and warned that if the prosecutors insist on charges, it will create a chilling effect on crypto and privacy tech investments across the U.S.
You may also like
How to Win at WEEX's Joker Returns 2026: Poker Card Strategy & Tips
Learn how to win at WEEX Joker Returns 2026 using poker-style card combos and Joker wildcard strategy. Discover how stronger hands improve multipliers and reward potential.
What Is A Joker Card In Poker? Rules, Role & How To Win It For 15,000 USDT
Master the Joker Card to win 15,000 USDT. Learn poker strategy for WEEX's Joker Returns crypto event (April 1-30, 2026). Turn deposits & trades into winning combos. Join now!
Cryptocurrency exchanges are launching a battle for VIP clients
PlanX launched with a 24-hour trading volume exceeding $12.9M: AI-driven on-chain execution begins to reshape trading paradigms, with the next day's trading volume surpassing $75M
95-year-old Buffett said 7 things: Now is not the time to buy the dip, nuclear weapons will eventually be used
BTC USD Price Forecast: Imminent Six-Month Red Pattern Decoded
Key Takeaways: Bitcoin is at risk of its first-ever seventh consecutive monthly price decline, contrasting heavily with past…
Ethereum Price Prediction: ETH Outpaced Bitcoin Last Month – Is Altcoin Season Here?
Key Takeaways: Ethereum saw a notable rise of 7% in March, leaving Bitcoin’s modest 1% gain in the…
XRP Investment Outlook: Ripple Versus Nvidia
Key Takeaways: XRP is experiencing a consolidation phase, trading at $1.32 and down 2.5% over 24 hours, while…
Solana Price Forecast: Institutional Heavyweights Back SOL, Shaping Future Prospects
Key Takeaways: Solana’s current price hovers around $84 with minimal movement amidst broader market variations. Institutional giants like…
Bitcoin Outlook Amid Iran Ceasefire and Market Dynamics
Key Takeaways: Bitcoin gains traction as Iran proposes conflict resolution, climbing back above $69,000. A market flux ensues…
US Labor Department Proposes Opening 401(k) Plans to Crypto
Key Takeaways: The U.S. Department of Labor’s proposal aims to introduce cryptocurrencies into 401(k) retirement accounts through a…
Dogecoin Price Prediction: Memecore Surpasses SHIB – Is DOGE Next?
Key Takeaways: MemeCore has surged to become the second-largest memecoin by market cap, surpassing Shiba Inu. Dogecoin’s price…
Cardano Price Forecast: Navigating the Midnight Shift – What Lies Ahead?
Key Takeaways: The recent launch of Cardano’s Midnight sidechain led to a 3.1% price decline for ADA, now…
Zcash Price Prediction: Exploring the Satoshi Plus Consensus and Future Scaling Layers
Key Takeaways: Zcash is trading around $248 after a 9% surge, influenced by market relief and geopolitical factors.…
KuCoin Directed to Prohibit US Traders and Settle $500,000 CFTC Fine
Key Takeaways: KuCoin’s parent company, Peken Global Limited, has been fined $500,000 by the CFTC. A permanent injunction…
Senators Unveil ‘Mined in America’ Act to Reinforce US Bitcoin Mining
Key Takeaways: The “Mined in America Act” proposes a voluntary certification for US Bitcoin mining to reduce reliance…
Senator Probes SEC’s Actions Toward Trump-Linked Crypto Firms
Key Takeaways: Senator Richard Blumenthal has initiated an investigation into the SEC’s handling of enforcement decisions involving Trump-associated…
Bitmine’s $147 Million Ethereum Accumulation: Key Market Dynamics
Key Takeaways: Bitmine has aggressively procured 71,179 Ethereum, totaling $147 million. Over five weeks, Bitmine’s total ETH acquisitions…
How to Win at WEEX's Joker Returns 2026: Poker Card Strategy & Tips
Learn how to win at WEEX Joker Returns 2026 using poker-style card combos and Joker wildcard strategy. Discover how stronger hands improve multipliers and reward potential.
What Is A Joker Card In Poker? Rules, Role & How To Win It For 15,000 USDT
Master the Joker Card to win 15,000 USDT. Learn poker strategy for WEEX's Joker Returns crypto event (April 1-30, 2026). Turn deposits & trades into winning combos. Join now!
Cryptocurrency exchanges are launching a battle for VIP clients
PlanX launched with a 24-hour trading volume exceeding $12.9M: AI-driven on-chain execution begins to reshape trading paradigms, with the next day's trading volume surpassing $75M
95-year-old Buffett said 7 things: Now is not the time to buy the dip, nuclear weapons will eventually be used
BTC USD Price Forecast: Imminent Six-Month Red Pattern Decoded
Key Takeaways: Bitcoin is at risk of its first-ever seventh consecutive monthly price decline, contrasting heavily with past…
App