🚨NEW: Re the @dragonfly_xyz issue in the @rstormsf trial seems to have been wrapped up yesterday after a stipulation signed by both parties and Acting U.S. Attorney Jay Clayton was read into the record. It laid out several key facts about the VC firm’s relationship with the Tornado Cash founders, including a $900,000 investment made in August 2020. In return, Dragonfly received the option to purchase network tokens and ultimately ended up with 5% of the TORN supply issued that December. The firm later sold a portion of its holdings in August 2022 for crypto worth more than $4 million. Additionally, the government denied that Dragonfly or any of its executives are under investigation, citing “inaccurate and misleading public reporting on the government’s position.” After some back-and-forth yesterday over whether the defense’s @chainalysis witness would take the stand, Storm’s lawyer Brian Klein said an individual (unclear whether it’s the same one as Klein forgot the person’s name) will be on today’s witness list, which will include at least four others. We may also find out whether Storm himself will testify. The charge conference is expected to happen today too, where both sides will battle over the legal instructions the jury gets before deliberations.

Since our statement on Friday, we've received overwhelming support from across the crypto, tech, and venture communities. We want to sincerely thank you all for standing behind us. The DOJ has now backtracked. They have stated on the record in the trial Monday morning that the media reports that they were planning to bring charges against Dragonfly were inaccurate, and neither Dragonfly nor any of its principals are targets in their investigation. The DOJ's public statements on Friday in open court—that Dragonfly, as investors, could face prosecution merely for backing an open-source privacy technology—was not only unprecedented, it was a clear violation of DOJ policy. They are never allowed to speculate on prosecuting a third party in open court in front of the media. The prosecutors did this to prevent us from testifying for the defense. But even the notion that an investor could be charged would have induced a chilling effect on investment into blockchain and privacy-preserving technologies. We sincerely thank you all for your support. With that behind us, the focus should remain on Roman Storm's trial, which is now nearing closing arguments as soon as this week. Its outcome will have massive implications for open-source software and privacy rights in America. We are hopeful that the American judicial system will get this right.

I have no idea of how/whether this happened. But threatening multiple witnesses even as they are about to testify would be beyond the pale. Especially when there's almost certainly zero additional evidence to consider before charging them.

As the prosecution of Tornado Cash developer Roman Storm unfolds, the government’s theory is colliding with Trump administration policies that have left prosecutors arguing Storm should have followed compliance rules they’re no longer allowed to say he was required to follow.

Catch-up on the latest in DeFi/crypto policy with the latest DeFi Debrief! This week, we cover @BankingGOP's market structure draft, the latest in @rstormsf's trial, and the bipartisan Financial Technology Protection Act of 2025. 📰👇

Even noted crypto critic @molly0xFFF is now slamming the government's handling of the @rstormsf Tornado Cash trial: "I agree with Storm on the fact that writing code is not a crime. It's not illegal to write privacy-preserving software."

Roman Storm's trial is still going. The SDNY needs to be completely gutted. It is full of prosecutors who hate Pres. Trump. There are some great people trying to make things right in the DOJ but they outnumbered by Biden's demons.

It’s a new (and likely the final) week in the trial against Tornado Cash developer Roman Storm. Here’s what to expect as the defense makes its case 👇

This is absolutely indefensible. Criminal law isn't a game where you can constantly change your theories in an effort to gotcha the defendant. It is very clear DOJ didn't do their homework on this case and is now scrambling to find any theory to get to a conviction.

🗞️NEW: JPMorgan Pauses Gemini Re-Onboarding Amid Fight Over Consumer Data Access The story behind @jpmorgan’s battle with @Gemini, @rstormsf defense asks the judge to strike key government testimony, and the latest from Washington this week. ⬇️