Ethereum News: Tornado Cash Delisted by U.S. Treasury, Legal Battle Concludes Without Final Ruling

In a recent development in the cryptocurrency world, the U.S. Treasury Department has delisted Tornado Cash from its sanctions list, bringing an end to a legal battle that had been ongoing for some time. Here’s a closer look at what happened and what it means for the future of Ethereum and the crypto market.

U.S. Treasury Delists Tornado Cash from Sanctions List, No Final Ruling Needed

The U.S. Treasury Department has argued that no further court ruling is necessary in the legal battle over its sanctioning of crypto mixer Tornado Cash. The platform and associated addresses were removed from the sanctions list in March 2022 after being blacklisted in August for alleged use by North Korea’s Lazarus Group to launder stolen cryptocurrency. Six Tornado Cash users, including Ethereum developer Preston Van Loon and supported by Coinbase, had sued the department claiming the sanctions were unlawful.

Ethereum’s L1 Revenue Falls to $100K in 24 Hours

Ethereum (ETH) as an L1 protocol produced only a little over $100K in fees from direct transactions in the past 24 hours. Most of the other fees in the ecosystem were linked to apps and retained by the teams. According to data by DeFi Llama, the Ethereum chain now ranks among several smaller protocols in terms of fee production. On the flip side, the lower fee signals that Ethereum has achieved its goal of lowering gas prices, making regular transactions relatively inexpensive. The latest results follow a recent low for Ethereum gas prices, once again dropping under 1 gWei. Regular transactions now go as low as $0.02, while a DEX swap is as low as $0.28.

Ether Supply on Centralized Exchanges Hits Nine-Year Low

The number of Ether (ETH) held in wallets tied to centralized exchanges has dropped to an over nine-year low of 8.97 million tokens, according to data tracked by CryptoRank and Santiment. That’s the lowest tally since November 2015. The continued exodus of coins from centralized trading platforms may result in reduced availability of coins in the market, potentially leading to an upward price surge. CryptoRank noted that investors continue moving ETH to cold storage, reducing available liquidity. BTC saw a similar trend in January when exchange reserves hit a 7-year low, followed by a sharp price surge.

BUIDL Fund’s $1.145B ETH Stake Signals Faith in Ethereum’s Future Despite Price Decline

Ethereum’s price has plunged nearly 50% in three months, dropping from $4,100 in December 2024 to around $1,750 by March 2025. This steep decline has coincided with a wave of outflows from U.S.-listed ETH ETFs, which saw over $760 million exit in the past month. Meanwhile, Bitcoin ETFs have attracted $785 million in fresh capital over just six days. Despite these challenges, institutional confidence in Ethereum is growing, as evidenced by BlackRock’s BUIDL fund raising ETH holdings to $1.145 billion.