Many local Hong Kong brokerage firms have completed the No. 1 license upgrade, and more institutions may join in the future

The Ethereum Foundation is doubling down on its support for Roman Storm, the Tornado Cash developer who now faces prison time after a partial conviction in federal court. In an Aug. 7 X post, the legal aid account supporting Storm…

The Ethereum Foundation has once again thrown its support behind Tornado Cash developer Roman Storm, pledging $500,000 in donations to fund the privacy-protocol developer’s legal defense. This announcement comes just days after the Tornado Cash co-founder was convicted on one of three federal charges that legal experts warn could set a dangerous precedent for criminalizing open-source development. Privacy is normal, and writing code is not a crime. https://t.co/BD55K5GDW3 — Ethereum (@ethereum) August 7, 2025 In an August 7 announcement , Hsiao-Wei Wang, co-executive director of the Ethereum Foundation, disclosed details of the donation and called upon the broader crypto community to contribute to the Tornado Cash developer’s legal defense fund. Ethereum Foundation Support Ambitious $7M donation goal as Storm Faces 5-Year Prison According to the “ freeromanstorm ” donation tracker, the Ethereum Foundation has contributed only 2% of the $500,000 target, while total legal fund support received by the Tornado Cash developer currently exceeds $4.7 million, still 31% short of the ambitious $7 million goal. Source: Free Roman Storm Supporting Roman Storm’s cause, Wang emphasized that “Privacy is normal, and writing code is not a crime.” Storm himself has been actively soliciting public contributions to his legal defense fund. A July 26 X post from the Tornado Cash developer urgently stated: “We’re running out of time — legal costs are piling up fast, and we urgently need your help.” The current legal urgency and plea for donations comes as a Manhattan jury on August 6 found Storm guilty of conspiring to operate an unlicensed money transmitter. Coin Center’s Seven Takeaways from the Storm Verdict: ▪️ 1. The sole conviction—unlicensed money transmission (18 U.S.C. § 1960)—turns mainly on legal/regulatory interpretation (“does this count as money transmission?”), not jury fact-finding. ▪️ 2. The court, at the… — Peter Van Valkenburgh (@valkenburgh) August 6, 2025 However, jurors remained deadlocked on separate conspiracy charges for money laundering and sanctions evasion after four days of deliberation. Under 18 U.S. Code Section 1960 , Storm was convicted of operating an unlicensed money transmitting business, which stipulates that anyone who “knowingly conducts, controls, manages, supervises, directs, or owns all or part of an unlicensed money transmitting business, shall be fined under this title or imprisoned not more than 5 years, or both.” The Free Pertsev & Storm legal aid organization highlighted the urgency of continued funding, confirming that Storm “risks up to 5 years of jail time if he doesn’t win the appeal, and potentially decades if the government decides to retry Counts 1 & 3.” Counts 1 and 3, which remain in legal deadlock, include charges of conspiracy to commit money laundering and conspiracy to violate U.S. sanctions, respectively. Roman has been convicted on Count 2 of conspiracy to Operate an Unlicensed Money Transmitting Business (max sentence of 5 years in prison). Here's a good thread by @valkenburgh about this charge + why it makes no sense: https://t.co/GlyEj9kPyy — Free Pertsev & Storm (@FreeAlexeyRoman) August 6, 2025 The organization noted that this case’s outcome “will set a major precedent for developers worldwide.” “Sad Day for DeFi”: Crypto Lawyers And Community Rally Support for Tornado Cash Developers The crypto community has widely criticized the unfairness of Storm’s case. On August 6, crypto lawyer Jake Chervinsky called the recent verdict “a sad day for DeFi,” arguing that “the government should never have brought this case.” He contended that Section 1960 should not apply to developers of non-custodial protocols who lack control over user funds. The government should never have brought this case. Section 1960 should not apply to the developer of a non-custodial protocol who lacks control of user funds. This case should go up on appeal. Hopefully the Second Circuit will correct this (and many other) errors in the case. — Jake Chervinsky (@jchervinsky) August 6, 2025 Chervinsky urged the case to proceed on appeal, expressing hope that “the Second Circuit will correct this (and many other) errors.” Storm’s legal difficulties stem from his role in developing Tornado Cash, a cryptocurrency mixer that enables users to obscure transaction histories by pooling funds with other users. The U.S. Treasury Department sanctioned the protocol in August 2022, alleging that $7 billion had been laundered through the platform since 2019, including frequent use by North Korea’s Lazarus Group hackers. Federal prosecutors characterized Storm as someone who profited from “hiding dirty money for criminals.” At the same time, his defense team argued that Tornado Cash was designed as a privacy tool for legitimate users, not specifically for illicit activities. Storm was indicted on these charges and sanctions violations alongside Tornado Cash co-founder Roman Semenov and Alexey Pertsev, another developer associated with the cryptocurrency-mixing platform. Tornado Cash users, developers, and crypto executives continue challenging the Treasury’s sanctions in court, arguing that the platform’s immutable smart contracts should not be subject to OFAC restrictions. 👨‍⚖️ Roman Storm, co-founder of the crypto mixing platform Tornado Cash, is urging a U.S. federal judge to dismiss all criminal charges against him. #TornadoCash #Storm https://t.co/UR6SpxMSw3 — Cryptonews.com (@cryptonews) December 20, 2024 On March 24, Coinbase’s Chief Legal Officer, Paul Grewal, demanded a final court judgment in the Tornado Case, despite the U.S. Department of the Treasury’s decision to delist the crypto mixer.

In the middle of rising crypto momentum and the renewed push for passive income tools, SolMining has just made its boldest move yet – launching a new line of XRP-powered smart contracts designed to help everyday users start mining Dogecoin, Bitcoin, and Litecoin without any hardware or setup . And here’s the kicker: New users get a $15 bonus just for signing up. This isn’t some complicated DeFi scheme. SolMining has stripped out the complexity, the noise, and the equipment costs – offering clean, short-term mining contracts powered by green energy and backed by real infrastructure across Kazakhstan, Canada, and Norway. Why XRP-Powered Mining Contracts Are a Game-Changer For years, XRP holders have been stuck with one of two options: hold and wait… or trade and risk. But now, there’s a third path – activate idle XRP and generate stable, daily returns by deploying it into cloud-based mining contracts. Here’s how it works: You fund your account using XRP (or SOL, BTC, USDT, etc.) Choose a smart contract (starting from as low as $15, can be purchased with bonus) Start earning automatically – no hardware, no noise, no stress It’s crypto mining without the headaches. Real Contracts, Real Returns – All Backed by SolMining’s Global Infrastructure SolMining isn’t a new player. Founded in 2017 and based in the UK, it manages over 600,000 mining machine clusters and operates 2 GW of clean-energy capacity worldwide. That includes: 700 MW plant in Kazakhstan (air + immersion cooling) 1 GW site in Canada (full immersion tech) 60 MW facility in Norway (eco-friendly air cooling) These data centers mine in real time, and when you activate a contract, your share of the hash power begins mining immediately. What Makes the Contracts So Attractive? These contracts are tailored for short-term gains, meaning users don’t have to lock up their funds for months. Every 24 hours, profits are automatically settled and added to your balance. You can withdraw at any time. (Free Contract) Principal: $15, 1-day term, Fixed return: $15.50 (Trial Contract) Principal: $100, 2-day term, Fixed return: $107 (Standard Contract) Principal: $1,500, 15-day term, Fixed return: $1,687.50 (Classic Contract) Principal: $3,000, 20-day term, Fixed return: $3,786 (Premium Contract) Principal: $9,000, 30-day term, Fixed return: $13,050 (Super Contract) Principal: $55,000, 40-day term, Fixed return: $92,400 All plans include principal protection. At the end of the term, your original XRP is returned, along with the profit. Green Energy = Sustainable Yield SolMining doesn’t just promise returns – it backs them with clean, renewable energy sources, including: Hydropower Geothermal Solar Wind This isn’t just good for the environment – it lowers operational costs, which translates to better yields for users. Why XRP and ADA Whales Are Quietly Flocking In Over the past 60 days, internal data shows an uptick in whale accounts shifting large XRP holdings into mining contracts, often earning $10,000+ per day across VIP tiers. SolMining’s VIP reward structure offers extra interest boosts and cash bonuses for high-volume investors. But even small players can start earning from Day One – no pressure, no lock-in. Your First Step: Register and Claim $15 Ready to see it in action? SolMining is giving new users a $15 bonus to try cloud mining with zero upfront risk. It takes less than a minute to register, and once you activate a contract, your earnings begin immediately. 👉 Click here to register and claim your free bonus Final Take Whether you’re holding XRP, SOL, or DOGE… don’t just let it sit. SolMining offers an easy, low-risk way to generate daily passive income using idle crypto assets. You don’t need a miner or a degree in blockchain. You just need 60 seconds and an XRP wallet. Start mining. Start earning. Powered by clean energy, backed by real infrastructure. Ready to put your XRP to work? Sign up now at SolMining.com and activate your free $15 mining contract.