Tornado co -founder Roman Storm requires $ 1.5 million in donations to cover legal costs as his criminal trials enter the third week in New York.
summation
- Roman storms are looking for $ 1.5 million with additional donations to cover legal costs.
- So far, more than $ 3.2 million has been raised, and the new fundraising target has been set to $ 5 million.
- The storm is faced with allegations of money laundering, sanctions and unlicensed money transfer business.
On July 26, X appealed to X’s Cryptocurrency community, and STORM said his legal team said, “I am working for 24 hours.”
Storm quotes pressure on professional fees, ongoing research and continuous lawsuits, saying, “I’m crazy but it requires 1.5mm again.
Donation of nearly $ 4 million
Storm’s latest request occurs despite the initial crowdfunding efforts, even though they have already raised millions of dollars.
According to his website, more than $ 3.2 million has contributed to the Roman Storm Legal Defense Fund and aims to reach $ 5 million.
The Ethereum Foundation, a non -profit organization dedicated to Ether Leeum and related technical support, donated $ 750,000, and initially invested $ 500,000 and promised to match the community donation.
His fundraising campaigns, adjusted through FreeromanStorm.com, will cover the costs of costs related to exam preparation, testimony of expert witnesses and 24 hours of legal tasks.
Storm wrote on X.
Before the trial began on July 14, Storm sought $ 500,000 donations to deal with what was already described as a “important tribe.”
His legal team expects to cost $ 3.5 million, with the extension of the trial and the unexpected witness and legal complexity. This figure has now increased to $ 5 million.
What are the charges of Roman storms?
The storm faces several criminal accusations raised by the US Department of Justice, including a conspiracy to commit money laundering, a conspiracy to violate the International Emergency Economic Power Law, and an unlicensed money delivery project.
DOJ insisted that Tornado cash was washed more than $ 1 billion in encryption assets, including the stolen funds of North Korea.
The storm was not convicted. His legal team claims that Tornado cash is a distributed non -protocol that is distributed autonomously without centralized control.
In prosecution of the storm, they argue that they will effectively criminalize the writing of open source code and violate the first revision of the free speech.
The Ministry of Defense also cited the 2019 guidelines for the financial crime execution network, and anonymous software developers said they were not obliged to register as a money transmitter.
They argue that the storm has not promoted the transfer of funds in the way that the storm did not operate the management service or the regulated business.
The trial that began in southern New York was currently three weeks, according to Judge Catherine Volk Para on July 14.
At first, it was expected to conclude within two weeks, but the timeline was extended. According to the updated quotation on the Storm website, it is expected to be versatile around August 11.
The US prosecution is attempting to prove that storms deliberately allow tornado cash to be used for illegal purposes and not implement control to prevent abuse.
The results of this case can be set for precedents on how to use the code on how to use the code without the ongoing operation control.