This Week in Crypto – Tornado Cash, Ethereum, and Binance

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This week in the crypto world we saw a Tornado Cash developer accused of laundering $1.2 billion, the two held Binance executives finally get a court date, and Ethereum become targeted by the SEC.

Tornado Cash Developer Learns Charges

Alexey Pertsev, one of the key developers behind Tornado Cash, this week discovered he is set to face trial after Dutch prosecutors revealed an indictment accusing him of laundering over $1.2 billion in dirty money.

The details emerged on Tuesday, shedding light on a case that has sparked significant debate within the cryptocurrency community. Pertsev was arrested in August 2022 after authorities in the US sanctioned the mixing service, with three individuals now accused of aiding the washing of stolen money through the service.

Binance Executives Learn Court Date

The two Binance executives detained in Nigeria face another two weeks in the country after their court hearing was slated for April 5. Tigran Gambaryan and Nadeem Anjarwalla were arrested at the end of February following their arrival into the country, and it was revealed this week that preliminary arguments on the custody of both men will take place next month. 

The precise reasons for their detention have not yet been revealed, but the case is almost certainly related to the country’s crackdown on crypto trading, and Binance especially, which received a court order this week demanding that it hand over records of Nigeria’s top traders on its platform.

SEC Targets Ethereum

Ethereum and entities connected to it were hit with subpoenas this week as the Securities and Exchange Commission (SEC) tries to push the narrative that Ether tokens are securities.

The Ethereum Foundation revealed that it has received what it termed a “voluntary inquiry from a state authority,” an inquiry which may be the tip of the iceberg, with Fortune reporting that other entities linked to Ethereum have received the same requests.