The Solana Policy Institute, a nonprofit organization advocating for Solana, has pledged $500,000 to support the legal defense of Tornado Cash co-founders Roman Storm and Alexey Pertsev. This move adds to the growing financial backing from the crypto community as concerns mount over the implications of their convictions.
Free Roman Storm Fund Nears $5.5 Million Goal
Storm, convicted on August 6 for operating an unlicensed money-transmitting business, is currently pursuing post-trial motions to overturn his conviction. Pertsev, his co-founder, was previously found guilty in 2024 of money laundering related to Tornado Cash, a protocol that allows users to preserve privacy by obscuring transaction details.
Community fundraising efforts have been strong. The Free Roman Storm fund has raised nearly $5.5 million, closing in on its $7 million target. Donations have come from major figures and organizations in the cryptocurrency space, highlighting widespread concern about the case’s impact on open-source developers.
Key Ethereum contributors have played a major role in the fundraising campaign:
- Ethereum Foundation: Pledged to match up to $500,000 in additional donations and had already donated $500,000 in June.
- Vitalik Buterin: Donated 150 Ether, worth over $673,000.
- Federico Carrone, an Ethereum core developer, contributed $500,000 after being detained in Turkey.
- Golem Project: Donated 50 Ether, worth over $224,000.
- Paradigm Investment Firm: Pledged $1.25 million in January, emphasizing that prosecuting developers for misuse of open-source code would “chill innovation in crypto and beyond.”
Industry Concerns: A Threat to Open-Source Development
The Solana Policy Institute stated that the government’s stance sets a dangerous precedent, as it could hold developers liable for how others use their software—even without control over the code.
Legal experts warn this case “changes the risk calculus for developers”, potentially discouraging innovation in decentralized technologies. The Blockchain Association echoed these concerns, stressing that such rulings threaten the future of open-source development and privacy tools.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.