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Boop.Fun leading the way with a new launchpad on Solana.
Patrick Collins
Co-founder of 🛡️@cyfrinaudits |
🟪 @soloditofficial |
🦅 @codehawks |
🎓 @cyfrinupdraft
Building the Web3 we promised.
The future of onchain is finance
8.8. klo 20.17
The future of finance is onchain.
4,37K
Patrick Collins kirjasi uudelleen
Cyfrin Audits case study: @SuzakuNetwork
Suzaku is permissionless, multi-asset validator infra designed to serve as the backbone for Avalanche L1 networks.
It enables efficient validator ops, seamless delegation, and automated rewards distribution across multiple vault types.👇
5,6K
If you are a custodian and want to make sure you secure your crypto, reach out!
Securing keys, transaction verification, and payment setups is our bread and butter.
8.8. klo 03.50
BREAKING: 🇺🇸 President Trump officially signs executive order opening the $12.5 trillion 401(k) retirement market to crypto investments.
3,89K
Patrick Collins kirjasi uudelleen
Today’s guilty verdict against Roman Storm for unlicensed money transmission is an unfortunate outcome. Like many in the industry have raised, we agree that non-custodial software through which people engage in self-directed, P2P transactions is not money transmission, and the government erred in charging this count in the first place.
This decision could have a wide-ranging and unintended impact on the blockchain ecosystem as a whole. The lack of regulatory clarity that has long plagued the crypto industry not only impedes innovation, it’s dangerous. Now, developers may fear their projects could run afoul of the law. This result is misaligned with the goals of the current administration and jeopardizes its push to place the United States at the forefront of crypto innovation.
The sole count of conviction (18 U.S.C. § 1960) was driven by the court’s pre-trial legal interpretation, not jury fact-finding. We believe the court erred in discounting FinCEN’s guidance and so broadly defining money transmission. Unfortunately, this may have tied the hands of the jury and dictated the outcome.
But, the fight is not over. Storm has multiple grounds for appeal. And we will continue to support the fight to protect developers—in legislation, regulatory rulemaking, and the courts.
1,17K
This is scary.
A precedent is being set where if you express yourself in writing, you can be charged with someone taking your idea and using it for evil.
7.8. klo 01.02
Today, a jury in Manhattan issued a partial verdict in Roman Storm’s case: they convicted him on count 2, conspiracy to violate Section 1960, and did not reach a verdict for counts 1 and 3, conspiracy to launder money and violate sanctions.
We are disappointed that the jury did not recognize that Storm should not be responsible for the actions of third parties he could not control. While it is understandable that the jury could not reach a decision on all the charges — as the government made many mistakes throughout and their case was not compelling — we hoped for a different outcome for Storm.
The government’s case targeting a software developer should have never been brought in the first place and remains fundamentally flawed: Tornado Cash is non-custodial software through which people engage in self-directed, p2p transactions.
Even the government acknowledges that Tornado Cash developers did not and could not exercise control or custody over user assets.
We will continue to support Storm as he appeals the verdict on Section 1960. At the DeFi Education Fund, we will always advocate for DeFi software developers’ fundamental rights, as we fervently believe software developers deserve the freedom to build decentralized financial tools and infrastructure, including privacy-preserving technology.
7,63K
Patrick Collins kirjasi uudelleen
🚨NEW: Just caught @rstormsf outside the courtroom. I asked how he was feeling. In a quiet voice, but with a noticeable smile, he told me:
“It’s a big win. The ‘1960’ charge is bullshit and we’re going to fight it all the way. You know how President Trump said ‘fight, fight, fight’? We’ll do that too.”
He expressed relief at not being remanded to jail and mentioned his 5-year-old daughter as one of the reasons he plans to keep fighting the one charge he was convicted on.
He said he’s heading back to Seattle tomorrow.
160,03K
Patrick Collins kirjasi uudelleen
Roman Storm was convicted for conspiracy to operate an unlicensed money transmitting business under Section 1960.
The jury was deadlocked on money laundering and sanctions. DOJ will decide in the coming days if it wants to retry those charges in a new trial.
A sad day for DeFi.
16,24K
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