Ethereum News: US Court Overturns Tornado Cash Sanctions in Major Crypto Privacy Win

In a landmark decision, the Fifth Circuit Court of Appeals has overturned sanctions on the Tornado Cash cryptocurrency mixing protocol, signaling a potential shift toward regulations that support privacy-focused technologies. This ruling, issued on January 21, came in response to a case brought by six individuals who challenged the sanctions, arguing that they violated the Administrative Procedure Act. The court's decision is seen as a significant victory for the cryptocurrency community, particularly for advocates of privacy and decentralized finance (DeFi).

US Court Overturns Tornado Cash Sanctions in Major Crypto Privacy Win

The Fifth Circuit Court of Appeals has overturned sanctions on the Tornado Cash cryptocurrency mixing protocol, marking a potential shift toward regulations that support privacy-focused technologies. On January 21, a U.S. Court issued its ruling in a case brought by six individuals challenging sanctions imposed on Tornado Cash. The plaintiffs argued that the sanctions violated the Administrative Procedure Act. The appeal, filed in November 2024, contended that the Treasury’s Office of Foreign Assets Control (OFAC) exceeded its legal powers when it imposed sanctions on Tornado Cash in 2022. The court determined that the OFAC had acted beyond its authority by targeting Tornado Cash’s Immutable smart contracts, which are decentralized and cannot be owned or controlled by any entity.

Lomashuk Clarifies No ‘Second Foundation’ Created Amid Ethereum Debate

Lido founder Konstantin Lomashuk has clarified that a 'Second Foundation' has not been established yet, following earlier comments that suggested its creation, amid ongoing changes to Ethereum’s administrative structure. In a January 22 post on X, Lomashuk quoted a Second Foundation X post which featured the phrase 'hello world computer.' However, several hours later, Lomashuk clarified that his post was simply a tweet. 'No actual second foundation has been created yet. Ethereum is the ultimate world computer, and every Etherean can help it grow, evolve, and succeed,' Lomashuk clarified in his recent post. The tweet was just a tweet – no actual second foundation has been created yet. Ethereum is the ultimate world computer, and every Etherean can help it grow, evolve, and succeed.

Justin Sun Suggests Strategy to Push Ethereum’s Price to $10K

Justin Sun, the founder of Tron, has proposed a strategic plan aimed at reshaping Ethereum's ecosystem and potentially increasing the price of its native cryptocurrency, ETH, to $10,000. The plan includes halting ETH sales for at least three years to preserve its supply and maintain a deflationary trajectory. Sun suggests that the Ethereum Foundation (EF) could fund its operations through AAVE lending, staking yields, and stablecoin borrowing. Additionally, he proposes imposing higher taxes on Ethereum Layer 2 projects, which he believes could generate $5 billion annually. This strategy aims to build market confidence and support the long-term growth of Ethereum.

Boba Network to Offer Embedded Yield by Launching Nucleus Network

Boba Network, a prominent Layer 2 (L2) solution known for enabling seamless transfers, has announced the integration of Nucleus Network, a popular yield provider. This integration will allow users to earn rewards and yields effortlessly. The platform revealed this development on its official X account, stating that users can now bridge their ETH to Boba Network and automatically earn Ethereum Mainnet yield without any additional steps or opportunity costs. The integration is powered by frictionless cross-chain operations and composable features, enhancing the user experience.