Federal judges have intervened to ensure the continuity of critical food assistance programs, ruling that Trump Administration officials must utilize contingency funding to maintain benefits for tens of millions of Americans. The judicial mandate requires detailed reporting on funding strategies and implementation timelines, representing a significant development in the ongoing management of federal social safety net programs during periods of government funding uncertainty.
about Federal Judges Order Trump Admin to Fund Food Aid ProgramsUS district court
0 in Finance and 0 in Crypto last weekTornado Cash Trial: Ethereum Dev Testifies for Defense
The criminal trial of Tornado Cash co-founder Roman Storm has entered its defense phase, with Ethereum core developer Preston Van Loon as the first witness. Van Loon testified that Tornado Cash is a privacy tool for Ethereum, revealing he used it four times to transfer 43 ETH in 2019 or 2020 due to safety concerns. His testimony highlights the broader debate around privacy tools in crypto and their legal implications. The defense case is expected to last about a week, with the trial drawing significant attention from the crypto community.
about Tornado Cash Trial: Ethereum Dev Testifies for DefenseTornado Cash Trial Begins: Storm Denies Ties to Hackers
The trial of Tornado Cash co-founder Roman Storm commenced with jury selection concluding in the US District Court for the Southern District of New York. Prosecutors accused Storm of enabling money laundering through the crypto mixer, specifically linking him to North Korea’s Lazarus Group, which allegedly laundered $600 million from the 2022 Ronin Bridge hack. Assistant US Attorney Kevin Mosley framed Tornado Cash as a ‘washing machine for dirty money,’ claiming Storm knowingly facilitated criminal activity. The defense countered that Storm had no direct involvement with hackers using the service. The case could set a precedent for liability in decentralized finance (DeFi) and crypto privacy tools.
about Tornado Cash Trial Begins: Storm Denies Ties to HackersXRP Ledger Hits Record Highs Amid Surging Whale Activity
The XRP Ledger (XRPL) is experiencing a major surge in activity, with daily active addresses jumping to 295,000—an 8x increase from the previous three-month average. Whale wallets holding at least 1 million XRP have reached a record 2,708, indicating heightened institutional interest. The total value locked (TVL) in XRPL’s DeFi ecosystem has climbed to $59.83 million, while stablecoin market cap stands at $71.06 million. Legal developments, including ProShares’ updated XRP ETF filing and Ripple’s $50 million settlement with the SEC, are boosting investor confidence. Additionally, Cardano’s plans to integrate XRP into its DeFi ecosystem and corporate adoption by firms like Worksport further underscore XRP’s growing utility.
about XRP Ledger Hits Record Highs Amid Surging Whale ActivityRipple & SEC Seek to Lift XRP Injunction: 70% Approval Chance
Ripple and the SEC have filed a joint motion to lift the injunction on XRP sales, with attorney John Deaton predicting a 70% approval likelihood by Judge Torres. The SEC’s 2020 lawsuit accused Ripple of selling unregistered securities, but a proposed settlement includes a $50 million SEC payment and $75 million returned to Ripple. Deaton criticized the SEC’s aggressive enforcement, citing cases like Debt Box, where the agency admitted to misleading claims. He also highlighted Ripple’s competitive disadvantage due to the legal uncertainty, as XRP trades at $2.16, up 1.64% in 24 hours.
about Ripple & SEC Seek to Lift XRP Injunction: 70% Approval ChanceEx-Celsius CEO Allowed Travel for Daughter’s Wedding
Former Celsius CEO Alex Mashinsky will likely be allowed to travel from New York to Memphis, Tennessee, for his daughter’s wedding between May 26 and May 29, as approved by Judge John Koeltl. The decision was filed in the US District Court for the Southern District of New York on May 8, though the document was later removed from the public docket. Mashinsky’s sentencing hearing, also on May 8, will determine whether he serves prison time following a plea deal with prosecutors. The US government did not oppose his voluntary surrender post-wedding.
about Ex-Celsius CEO Allowed Travel for Daughter's WeddingSam Bankman-Fried Forfeits One Billion Dollars in Assets Following Conviction
Sam Bankman-Fried has forfeited approximately $1 billion in assets, including two private jets, significant political donations, and a major stake in Robinhood, following a court order. The forfeiture includes 55.2 million Robinhood shares, two aircraft, and various cryptocurrencies. Despite pleading not guilty to fraud charges, he was convicted and sentenced to 25 years in prison, with ongoing appeals regarding the trial’s fairness.
about Sam Bankman-Fried Forfeits One Billion Dollars in Assets Following ConvictionSafeMoon CEO Seeks Trial Delay Citing Potential SEC Policy Changes
Braden John Karony, former CEO of SafeMoon, has requested a delay in his criminal trial, citing potential regulatory changes under the Trump administration that could affect the classification of digital assets. His legal team argues that new SEC policies might lead to the dismissal of charges related to SafeMoon being deemed a security. However, the US Attorney’s Office opposed the request, stating that the charges of wire fraud and money laundering are independent of any regulatory shifts.
about SafeMoon CEO Seeks Trial Delay Citing Potential SEC Policy ChangesBinance Seeks Dismissal of Lawsuit Over Alleged Hamas Financial Links
Binance is seeking to dismiss a lawsuit alleging it facilitated transactions linked to Hamas during the October 2023 attacks on Israel. In a New York court, the exchange’s legal team denied any direct relationship with Hamas and argued that cryptocurrency is not inherently dangerous, while the judge expressed skepticism about the ease of dismissing terrorism-related claims. Binance is also facing global investigations for financial misconduct, including cases in Spain and France.
about Binance Seeks Dismissal of Lawsuit Over Alleged Hamas Financial LinksTexas Court Overturns Tornado Cash Sanctions Signaling Shift in Crypto Regulations
A US District Court in Texas has overturned sanctions against Tornado Cash, a cryptocurrency privacy protocol, ruling that the Treasury’s Office of Foreign Assets Control exceeded its authority. The court’s decision, prompted by an appeal from six users, highlights the distinction between technology and its misuse by criminals. Despite the ruling, Tornado Cash developer Alexey Pertsev remains in custody on separate money laundering charges.
about Texas Court Overturns Tornado Cash Sanctions Signaling Shift in Crypto Regulations