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Shocking verdict out on Tornado Cash case
Shocking verdict out on Tornado Cash case originally appeared on TheStreet. A Manhattan jury found Tornado Cash co-founder Roman Storm guilty of conspiracy to operate an unlicensed money transmitting business in a split verdict on Aug. 6, the Inner City Press reported. However, there are still two charges on which they couldn't reach a verdict: money laundering and sanction violations. We will know in the next few days if the Department of Justice (DoJ) will pursue these charges in a new trial. Launched in 2019, Tornado Cash is an open-source, non-custodial, and fully decentralized cryptocurrency mixer that pools different crypto funds together so as to obscure the trail of the money flow. While the authorities have frequently criticized the service for concealing funds belonging to malicious actors, those championing Tornado Cash underline the value of privacy and individual freedom in on-chain witnesses from the prosecutor's side included officers belonging to the Federal Bureau of Investigation, the Internal Revenue Service, etc., and hackers, who argued that Storm was competent enough to modify the code to prevent Tornado Cash's misuse by bad actors, but he chose not to act. The defense's side put forth Ethereum core developer Preston Van Loon and NAXO co-founder Matthew Edman, among other experts, who testified in the developer's defense. Storm has been found convicted of the charge of unlicensed money transmitting, which carries a maximum sentence of up to five years in prison. 3 years ago... It was nearly three years ago on Aug. 8, 2022, that the Office of Foreign Assets Control (OFAC), a financial intelligence and enforcement agency of the Treasury Department, sanctioned Tornado Cash. It alleged that Lazarus Group, the notorious hacking group linked to North Korea, had used the service to launder stolen crypto assets worth $455 million. The mixer facilitated laundering of assets worth over $7 billion, the OFAC Nov. 20, 2024, a federal appeals court ruled that the Treasury had overstepped its authority while sanctioning the service. Smart contract-based services do not inherently violate laws, the court ruled. On March 21, 2025, the Treasury lifted sanctions against the crypto mixer. However, the case for which the verdict has just come out began on Aug. 23, 2023, when the DoJ charged Storm, along with another Tornado Cash co-founder Roman Semenov, for laundering funds worth more than $1 billion. Crypto community throws support behind Storm So far, Storm has argued that developers should be able to freely write code without fearing consequences due to misuse by any third parties. "If I lose, DeFi dies with me. The dream of financial freedom, the code I believed in—it all fades into darkness. I'm fighting, but the weight is unbearable," Storm wrote on X on June 13 as the trial loomed. The crypto industry has taken the same line of defense. In fact, the idea for Tornado Cash itself had come from Ethereum co-founder Vitalik Buterin himself, who had engaged in discussions around on-chain privacy with Storm. The crypto mixing service runs on Ethereum Virtual Machine-compatible has found support among the ranks of Buterin and the Ethereum Foundation. Supporters raised over $3 million to put up the legal defense. Needless to say, the latest verdict has shocked the crypto community. Bitwise's research analyst Danny Nelson called it "a disaster for DeFi developers." The crucial question still remains if a developer can really control the use of a code or a program by third parties and be held accountable for its misuse. Shocking verdict out on Tornado Cash case first appeared on TheStreet on Aug 6, 2025 This story was originally reported by TheStreet on Aug 6, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Net Lease Office Properties Declares Special Cash Distribution of $3.10 Per Share
NEW YORK, Aug. 6, 2025 /PRNewswire/ -- Net Lease Office Properties (NYSE: NLOP) reported today that its Board of Trustees has declared a special cash distribution of $3.10 per common share, totaling approximately $45.9 million. The distribution is payable on September 3, 2025 to shareholders of record as of the close of business on August 18, 2025. For additional information on NLOP — including an investor presentation outlining its strategy and progress to date, its latest quarterly report on Form 10-Q and related filings — please visit the company's website. Net Lease Office Properties Net Lease Office Properties (NYSE: NLOP) is a publicly traded real estate investment trust that owns a portfolio of high-quality office properties primarily leased to corporate tenants on a single-tenant net lease basis. Tenants operate across a variety of industries and the vast majority of properties are located in the U.S., with one property located in Europe. Institutional Investors: 1-212-492-1140institutionalir@ Individual Investors: 1-844-NLO REIT (656-7348)ir@ Press Contact:Anna McGrath1-212-492-1166 View original content to download multimedia: SOURCE Net Lease Office Properties Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Running back James Cook's contract standoff with Bills reaches 3rd practice
PITTSFORD, N.Y. (AP) — The Buffalo Bills and James Cook are in agreement on at least one aspect of the running back's contract standoff, which had the starter skipping his third consecutive training camp practice on Wednesday. Neither side will hazard guessing on how much longer Cook will continue declining to practice in the fourth-year player's escalating bid to extend the final year of his contract. What's more evident is how the team and player aren't on the same page on various aspects of negotiations based on what people on each side of discussions told The Associated Press over the past two days. The people spoke to the AP on the condition of anonymity because the talks are private. Barring a sudden thaw in negotiations, it's unclear who is expected to take the next step to spur discussions. While the Bills have not ruled out potentially getting a deal done even if it means waiting until after the season, there's a difference over how optimistic each side is of having one in place before the season opens. The two sides also differ over whether Cook opened negotiations seeking a $15 million a year payday based on the player posting '$15 mill year' in a message he posted on social media in February. Though it's unclear how far apart they are on what's expected to be a three-year contract, Cook's current asking price ranges somewhere between $11 to $12.5 million in guaranteed money. How that fits in the Bills' long-term salary cap structure is unclear even for a player who co-led the NFL with 16 touchdowns rushing during Cook's breakout season in 2024. 'It's how do you divvy up your money? You don't want to lose a James Cook. He's a valuable piece to our team,' Bills GM Brandon Beane told The AP on July 25. 'But you also don't want to lose (left tackle) Dion Dawkins, (right tackle) Spencer Brown, the line we've put together or the money we put in the pass rush,' he added. 'Teams are forced with choices, and those choices get really hard once you've paid that quarterback.' Cook wound up being the odd-player out in Beane's offseason spree of signing four players entering their final contract seasons to extensions. Cook, meantime, believes he is deserving of a raise based on his production last year — his 16 TDs rushing tied a single-season team record — and the Bills placing an emphasis on a more balanced attack since Joe Brady took over as offensive coordinator midway through the 2023 season. 'I deserve what I want, what I need, and it's going to eventually happen,' Cook said, two days into training camp. 'I mean, however it happens, it's going to get done, wherever it happens.' He referred to viewing himself as one of the NFL's top running backs and added he didn't regret posting what he did on social media. Cook was a full practice participant during Buffalo's first eight practices, before starting his 'hold-in' on Sunday, when he watched from the sideline dressed in a white track suit. On Monday, he made a brief appearance before ducking out before practice began and did not return. Cook didn't make an appearance Wednesday, but is still present at camp. Buffalo closes camp in suburban Rochester, New York, with a practice Thursday before opening its preseason schedule by hosting the New York Giants on Saturday. The team will then resume practicing at its headquarters in Orchard Park. Cook fears risking injury while entering the final year of his contract. Though the Bills have backups Ray Davis and Ty Johnson in position to step in, they also face a risk should one of them get hurt. Bills players and coaches insist Cook's absence hasn't been a distraction. Brady said he's treated Cook's absence no different than how he's adapted his practice plans to take into account several players sidelined by injuries. 'You guys know how I feel about James and the love I have for him, and all that's out of my control in my hands,' Brady said. 'So I find out tomorrow, hey, Jimbo's going, I can focus on this. I find out it's two weeks, whenever that time comes, we'll adjust, we'll be ready to go.' ___ AP NFL:
