Monat: Februar 2025

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World Financial Liberty co-founder says it wants to create a “strategic” token reserve

  • Chase Herro didn’t specify what the purpose of holding a reserve for the platform would be
  • On Thursday, World Liberty Financial bought $470,000 worth of ONDO, the token linked to Ondo Finance

The co-founder of World Liberty Financial has said that the DeFi project plans to create a “strategic reserve” with the tokens it buys.

Chase Herro made his comments at startup Ondo Finance’s inaugural summit in New York; however, he didn’t specify what purpose holding a reserve would be for the platform.

According to Bloomberg, Herro appeared on stage alongside Donald Trump Jr. and fellow World Liberty Financial (WFL) co-founders Zak Folkman and Zach Witkoff. The platform is backed by US President Donald Trump who’s listed as Chief Crypto Advocate on the project’s website.

Herro’s remarks follow as the WFL bought 342,000 ONDO tokens on Thursday, for a value of $470,000, according to  Arkham Intelligence data. The ONDO token is linked to ONDO Finance and is WFL’s governance token.

To date, WLF crypto holdings amount to $35.5 million with a majority held in USDC and Tron.

The idea of a Bitcoin strategic reserve has gained enthusiasm, thanks to Trump who has floated the idea of such a move since his presidential win. Last month, the US president signed an executive order to establish a crypto working group designed to boost the advancement of crypto in America.

It will also look into the possibility of creating a national crypto stockpile.

The post World Financial Liberty co-founder says it wants to create a “strategic” token reserve appeared first on CoinJournal.

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Dutch Court suspends the pretrial detention of Tornado Cash dev Alexey Pertsev

  • Alexey Pertsev has been freed under electronic watch
  • Pertsev was sentenced to five years and four months in prison for money laundering
  • The developer has been in jail since 2022

Tornado Cash developer Alexey Pertsev has been released from custody following a ruling that favored electronic surveillance over continued pretrial detention.

Pertsev, who was released on February 7 at 10 am, was charged with money laundering and linked to the US Treasury’s sanctions against Tornado Cash. According to the US government, the protocol was allegedly involved in illicit financing.

Pertsev was found guilty of money laundering in 2024 and has been detained since August 2022.

Notably, Pertsev’s release comes nearly a month after the Texas court overturned sanctions on Tornado Cash.

Pertsev expressed his gratitude for this opportunity, taking to X to say, “Dear Friends, on Friday 7 February at 10 am I will be free! It is not real freedom, but it is better than prison.”

He further noted that this development would give him “a chance to work on my appeal and fight for justice.”

Alexey Pertsev’s woes

Pertsev’s case has been under the international spotlight since 2022. The US Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Tornado Cash, accusing the platform and its developers of facilitating money laundering.

Despite these allegations, Pertsev and his legal team have contested the charges, arguing that developers should not be held accountable for how their open-source software is used by others. This argument resonates with many in the cryptocurrency community who advocate for the separation of developers’ liability from the actions of users.

Previously, the Dutch court countered Pertsev’s defence, stating that Pertsev and his co-founders at Tornado Cash did not take adequate measures to prevent misuse by criminal entities, including the notorious North Korean cybercrime group, Lazarus. The court went ahead and sentenced Pertsev to five years and four months in prison for money laundering, a ruling which his lawyers immediately appealed.

Pertsev had applied for bail multiple times without success, with the prosecution labelling him as a “flight risk.”

Therefore, the court’s decision to allow electronic monitoring represents a shift in perspective, possibly acknowledging the complexities involved in prosecuting tech developers in the blockchain and cryptocurrency space.

As Pertsev now focuses on his appeal, the crypto community and legal observers watch closely, recognizing this case’s potential to influence future legal interpretations of developer accountability in the rapidly evolving tech landscape.

The post Dutch Court suspends the pretrial detention of Tornado Cash dev Alexey Pertsev appeared first on CoinJournal.