TORN surged nearly 5% to $9.67 following the Eleventh Circuit Court’s decision to dismiss Coin Center’s lawsuit against the Treasury Department. The court approved the dismissal after OFAC removed sanctions against Tornado Cash, deeming enforcement unlawful under the April district court ruling. This relieves immediate regulatory pressure on the mixer.
Investors interpreted the move as a partial victory for privacy tools, though criminal charges against developers Roman Storm and Roman Semenov remain. The price jump reflects speculative bets on reduced operational constraints for similar protocols.
However, the rally may be short-lived. Ongoing DOJ cases and OFAC’s authority to reimpose sanctions create uncertainty. Market reactions highlight crypto’s sensitivity to regulatory shifts, as seen in Bitcoin’s climb amid Gould’s OCC confirmation.
