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Today in crypto, an Ethereum developer became the first defense witness to testify in Roman Storm’s trial after prosecutors rested their case. In Hong Kong, regulators announced new fines and potential prison time for unlicensed stablecoins targeting retail investors. Meanwhile, Ether slipped slightly as staking exit requests surged to an 18-month high.
Prosecutors in the criminal trial of Tornado Cash co-founder and developer Roman Storm rested their case on Thursday, opening the door for defense counsel to call an Ethereum core developer as its first witness.
According to reporting by Inner City Press on Thursday from the US District Court for the Southern District of New York, Ethereum core developer Preston Van Loon testified in Storm’s defense case, which is expected to last about a week. The developer reportedly described Tornado Cash as a “privacy tool for Ethereum” and said he had used the mixing service four times to send a combined 43 Ether (ETH) in 2019 or 2020, citing safety concerns.
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