⚖️Tornado Cash Sanctions Deemed Unlawful

GM Defiers!

A U.S. federal appeals court found that the Treasury Department’s sanctions against Tornado Cash are unlawful. The court said Tornado Cash’s immutable smart contracts do not comprise property, meaning the sanction overstep statutory authority.

Trump is reportedly looking to expand the Commodity Futures Trading Commission (CFTC)’s jurisdiction over crypto. The news suggests Trump will treat most digital assets as commodities, rather than securities.

SynFutures announced the launch of a foundation and upcoming token generation event after its points program concluded.

Markets bounced back after two days of selling, with BTC rallying above $96,000. ETH and SOL jumped 7% and 5%, respectively.

Also, ADA investors pull tokens from exchanges, Jupiter community begins voting on airdrop proposal, Pump Science’s wallet compromised, USDa grows to $230M market cap in two weeks, Ripple announces tokenized money market fund, and Hashdex files for crypto index ETF.

✍️ In today’s newsletter:

• U.S. appeal court reverses Tornado Cash sanctions
• Trump to empower CFTC regulation of crypto
• Crypto markets bounce back
• SynFutures plots path to decentralization
• Cardano holders move ADA on-chain in droves
• Voting on 1.4 JUP airdrop kicks off
• Pump Science’s private key compromised
• Avalon Finance becomes third-largest CDP project
• RWAs are coming to XRP Ledger
• Hashdex submits crypto index ETF application

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🎉U.S. Appeals Court Reverses Tornado Cash Sanctions

U.S. Court of Appeals for the Fifth Circuit ruled that the Treasury Department’s sanctions against Tornado Cash unlawfully overreach its statutory authority, determining that the protocol smart contracts aren’t property. A U.S. district court will reconsider the case in light of the appeals court’s ruling.

👮‍♂️Trump Administration Reportedly Plans to Empower CFTC Oversight of Crypto

The incoming administration of Donald Trump is reportedly looking to bolster the CFTC’s oversight of crypto. The news indicates the administration will treat digital assets as commodities, contrasting from the efforts of Gary Gensler’s SEC to classify cryptocurrency as securities.

🚀Crypto Markets Rebound After Two-day Decline

The cryptocurrency market posted modest gains on Wednesday following two consecutive days of losses. Bitcoin’s pullback was attributed to an overextended market. The futures market had built up overleveraged positions over the past week, which analysts believe triggered the correction.

📈Crypto Assets Record All-time High Weekly Inflows

Cryptocurrency exchange-traded products hosted record inflows exceeding $3 billion last week. The milestone signposts unprecedented institutional demand for digital asset exposure.

🪙SynFutures to Launch a Foundation and Native Token

SynFutures is launching a foundation and native token in its roadmap to decentralization. The move comes after SynFutures wrapped up its points campaign. The project is the third-largest derivatives DEX by volume.

💰Cardano Investors Withdraw Millions, Signaling ​​Potential Price Rally

Cardano investors are withdrawing ADA from centralized exchanges en masse. The trend suggests bullishness for ADA, with the token already up 200% in the past 30 days.

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🪐Voting on Jupiter’s Next Proposed Airdrop is Live

The Jupiter community is voting on whether to distribute an airdrop worth $1.5 million. The project previously dropped 1 billion JUP to one million Solana wallets.

🔑Pump Science Warns Against Fraudulent Tokens After Private Key Compromise

Pump Science is warning users not to interact with tokens launched from its original PumpFun account and wallet. The address was compromised after the project accidentally published the private key to its developer wallet.

📈BTC-Backed USDa Soars To $230M Market Cap In Two Weeks

Avalon’s USDa has emerged as the third-largest collateralized debt protocol two weeks after launching. The stablecoin already boasts a $230 million market cap backed by $474 million in Bitcoin deposits.

💵Ripple Introduces Tokenized Money Market Fund on XRP Ledger in RWA Push

Ripple is teaming up with Archax to bring a tokenized money market fund onto the XRP Ledger network. Ripple Labs plans to allocate $5 million to invest in the fund.

👀Hashdex Applies for Crypto Index ETF, Could Include LINK, AVAX, and LTC

Hashdex filed with the SEC to launch a crypto index ETF investing in BTC, ETH, LINK, AVAX, and LTC. The move comes as crypto ETF filings are piling up with the SEC.

🌍 ELSEWHERE

• Tether Stops Minting Euro-Backed Stablecoin, Citing Hostile Regulators (Decrypt)
• Ripple invests in Bitwise XRP fund amid new XRPL Foundation launch (CryptoSlate)
• Brazilian lawmaker proposes national bitcoin reserve to hedge economic risks (The Block)

🔥TRENDING

• Cardano Investors Withdraw Millions, Signaling ​​Potential Price Rally
• Starknet Becomes First Rollup To Deploy Native Staking
• Justin Sun Invests $30 Million In World Liberty Financial Token Sale
• Crypto Assets Record All-time High Weekly Inflows
• DeSci Momentum Picks Up
• SUI Blockchain’s Largest Memecoin fudSUI Becomes a Liquid Staking Token