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Stablecoin Issuer Tether Won’t Freeze Tornado Cash Addresses, Says Premature Freezing Could Jeopardize Investigations

Stablecoin Issuer Tether Won't Freeze Tornado Cash Addresses, Says Premature Freezing Could Jeopardize Investigations

While the crypto community is still talking about the U.S. government banning the ethereum mixing platform Tornado Cash, the stablecoin issuer Tether Holdings Limited revealed on Wednesday that the company would not “freeze Tornado Cash addresses.” Tether’s recently published blog post about the subject says the company is waiting for instructions from law enforcement.

Tether Has No Plans to Freeze Tornado Cash-Associated Private Wallets and Is Waiting to Hear From Law Enforcement Officials

On August 8, the U.S. Treasury Department’s financial watchdog, the Office of Foreign Asset Control (OFAC), banned the ethereum mixing application Tornado Cash and ever since then, OFAC’s sanctions enforcement has been met with controversy. Of course, OFAC’s actions caused a ripple effect and a number of companies like Circle Financial’s and Coinbase’s Centre consortium, Github, and Discord took action. For instance, developers were suspended from Github, the Tornado Cash Discord server was deleted, and reports noted that Centre blacklisted dozens of ethereum addresses and froze 75,000 USDC.

Tether Holds Firm on Decision Not To Freeze Tornado Cash Addresses, Awaits Law Enforcement Instruction https://t.co/zpsI9lKLlf

— Tether (@Tether_to) August 24, 2022

According to a blog post published by Tether Holdings Limited published 16 days after OFAC’s ban, the company explains that as of right now, it’s not freezing USDT assets held within the Tornado Cash mixer. Tether says the company works with law enforcement officials regularly and is in daily contact with “key law enforcement officers.” If a law enforcement official provides a legitimate request to freeze a private wallet, Tether “complies with the freeze,” but we do not freeze wallets of exchanges/services,” the company added.

Tether’s blog post continues:

So far, OFAC has not indicated that a stablecoin issuer is expected to freeze secondary market addresses that are published on OFAC’s SDN List or that are operated by persons and entities that have been sanctioned by OFAC. Further, no U.S. law enforcement agency or regulator has made such a request despite our near-daily contact with U.S. law enforcement whose requests always provide precise details.

Unilaterally Freezing Addresses Prematurely Could Be a Bad Move, Tether Says

Furthermore, Tether says that choosing to unilaterally freeze secondary market addresses very well “could be a highly disruptive and reckless move.” The company also detailed that there have been instances where law enforcement has told the company not to freeze suspected private wallets so the suspects of an investigation are not alerted and liquidate the funds. Tether’s blog post also calls out a number of stablecoin issuers like Paxos, a New York-based regulated company.

Tether said that Paxos did not freeze Tornado Cash wallets and the USDT’s issuer further noted that Makerdao, the issuer of the decentralized finance (defi) stablecoin DAI did not proceed with any type of freeze. However, Tether seems to disagree with the move made by USDC’s issuers. “We believe that, if made without instructions from US authorities, the move by USDC to blacklist Tornado Cash smart contracts was premature and might have jeopardized the work of other regulators and law enforcement agencies around the world,” the blog post on Wednesday added.

What do you think about Tether’s blog post that says it will not freeze USDT tied to Tornado Cash and that it is waiting for instructions from law enforcement? What do you think about the company’s commentary about USDC’s issuer blacklisting stablecoin wallets? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Ethereum

Meme Coin Prices Pump as Official Trump, dogwifhat, BTC Bull Token Post Gains

Although Bitcoin and Ethereum are continuing to chop up the crypto traders attempting to squeeze profits from minor price moves, the meme coin market seems to be rebounding. Following a slow slide from a total market value of $137 billion in December to $67 billion this February, meme coins are now benefiting from a cumulative 10% boost.

This has enabled tokens like Official Trump ($TRUMP) and dogwifhat ($WIF) to post significantly higher gains, backed up by bullish technical analysis patterns.

At the same time, a unique new meme coin – BTC Bull Token ($BTCBULL) – has entered the picture, with an ICO that some investors are rotating their profits into.

TRUMP and WIF Break Out of Classic Chart Patterns

Within financial markets of all kinds, technical analysts have established a huge range of ways to anticipate significant price movements. When volatility is high (as it always is in crypto), chart patterns consistently prove themselves as highly reliable options.

As we’ll discover when analyzing TRUMP and WIF, meme coin traders are especially fond of simple and easy-to-follow analysis.

For TRUMP (a coin that has managed to sustain its key support around $14), this week’s bullish meme coin market conditions have set up a descending triangle pattern that TRUMP’s price successfully broke through today. Loyal holders have been rewarded with a boost of approximately 20% so far, including a push above the $20 level:

Since this chart is tracking the price’s progression in 4-hour intervals, the following days will determine how far TRUMP can surge beyond this point. Another dip towards $14 could be on the cards – but so could an extended bullish move, which is not uncommon in the world of meme coins. As long as Donald Trump himself remains a solid supporter of the Web3 industry, TRUMP will continue to be a token to watch.

$TRUMP Horizontal levels & Ranges to watch. pic.twitter.com/dXukaZy7Vw

— Daan Crypto Trades (@DaanCrypto) February 14, 2025

Meanwhile, dogwifhat has been subject to extensive online criticism, due to its association with key influencers who have repeatedly upset the project’s community.

The negative sentiment around WIF has caused it to fall around -88% from its recent peak value of $4.83, which was set in mid-November 2024. Since December, WIF has dipped on an almost daily basis – and its most recent potential recovery is most clearly visible on its 4-hour chart:

Like TRUMP, WIF has managed to set up its own descending triangle breakout – but because this pattern is much shorter, the resulting pump (also roughly 20%) may be less likely to last. At the very least, WIF bulls will want the $0.55 price level to hold, which could lead WIF into a sideways range with an upper limit of $1 or $2.

$WIF #WIF – Nice falling wedge breakout here on 4hr.


82cents my next resistance.


If we reclaim that then back at $1 + pic.twitter.com/iwX4xQY99P

— The Cryptomist (@Thecryptomist) February 14, 2025

Unless TRUMP and WIF really get fired up, meme coin fans will be much better off looking at trending new ICO projects that can offer investors the potential for major gains.

Could BTC Bull Token ($BTCBULL) be the Next Breakout Meme Coin?

Across the Web3 industry, the ultimate fate of almost every project is connected to the price performance of Bitcoin ($BTC). This means that if you believe in the future potential of blockchain technology and its real-world applications, you’re also a Bitcoin believer by default.

For supporters of both Bitcoin and meme tokens, BTC Bull Token ($BTCBULL) is a perfect match – and an important potential addition to their portfolio.

The Bitcoin Bull Token’s roadmap is both straightforward and rewarding, and involves a mix of real BTC airdrops and strategic BTCBULL token burns that will occur when BTC’s price hits particular targets.

For example, BTC airdrops (exclusively for BTCBULL holders) will take place when Bitcoin gets to $150,000 and $200,000. BTCBULL tokens will also be burnt when BTC reaches $125,000, $175,000, and $225,000 – reducing the BTCBULL supply, and potentially boosting its price.

At a Bitcoin price of $250,000, BTCBULL holders will also receive a BTCBULL token airdrop, immediately boosting the size of their holdings.

On the technical side of things, BTCBULL is a meme coin based on the Ethereum network – so to keep the real BTC airdrop process as convenient as possible, BTC Bull Token has partnered with Best Wallet.

Using Best Wallet’s user-friendly smartphone app, BTCBULL holders can track their entire crypto portfolio and receive their BTC airdrops directly through Best Wallet itself, as the platform is directly connected to the Bitcoin and Ethereum blockchains.

As word about the BTC Bull crypto presale is already spreading fast, it’s raised more than $1.4 million in just a few days. The BTCBULL price is fixed at $0.00236 for now, but the presale will soon progress through a series of stages that will see the price rise until BTCBULL launches on crypto exchanges, and the wider market takes over.

Additional BTCBULL tokens can also be acquired through a dedicated staking protocol, which rewards stakers at a dynamic APY rate of approximately 287% pa.

Visit BTC Bull Token Presale

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

Readers are also advised to read CryptoPotato’s full disclaimer.

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Ethereum

Spot Ethereum ETF Demand Outpaces Bitcoin’s – Is a Flippening Coming?

Following the solid end in January, the spot Bitcoin ETFs have shown some mixed reactions to the macroeconomic uncertainty that started with US President Trump’s tariffs.

In contrast, the Ethereum ETFs have enjoyed the past week by registering more net inflows than their BTC counterparts for the first time.

Ethereum ETFs See Substantial Demand

Recall that the Ethereum ETF start in late July last year was anything but impressive as investors were in a hurry to move their funds out of the Grayscale Trust, which was now converted into a spot exchange-traded fund. Unlike the case with BTC, though, where they transferred most of the amount toward IBIT and other ETFs, all Ethereum products were in the red for many weeks.

However, things changed a few weeks after the US elections, and the ETFs had a 19 consecutive day period with only net inflows or at least no reportable outflows. A similar but smaller streak was recovered in mid-January and in the past week and a half as well. January 29 was the last date for net outflows from the spot ETH ETFs, with a minor $4.7 million exiting the funds.

Since then, it’s been well in the green or no outflows. The past week alone saw $83.6 million poured in on Monday, a remarkable $307.8 million on Tuesday, and a more modest $18.1 million on Wednesday, as well as $10.7 million on Thursday. Friday was a no-action day.

This puts the total for the week at $420.2 million, which is quite impressive given the economic uncertainty. In the meantime, though, ETH’s price has tumbled by more than 14% and now struggles to remain above $2,600.

Different Bitcoin Story

The spot Bitcoin ETFs, which recently celebrated their first birthday, had a different week. On Monday, the first business day following the tariffs against China, Mexico, and Canada, investors withdrew $234.4 million from the funds, followed by another $140.2 million on Thursday.

The positive numbers on Tuesday ($340 million), Wednesday ($66.4 million), and Friday ($171.3 million) managed to offset the losses, and the BTC ETFs finished the week at $203.8 million in net inflows. However, it signals a major shift (or flippening, if you will) between the Ethereum ETFs and the Bitcoin counterparts.

Within this timeframe, BTC’s price also went south hard, dumping to under $92,000 on Monday, but has lost a more modest 3% on a weekly scale, compared to ETH’s 14% drop.

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Ethereum

Ethereum L2 Taiko and DoraHacks Are Launching the Largest Anonymous Community Vote in Crypto History

[PRESS RELEASE – Singapore, Singapore, February 7th, 2025]

Taiko, an Ethereum Layer 2 network, and DoraHacks, the largest hacker movement in crypto, are spearheading the biggest anonymous community vote ever conducted in Web3. The initiative aims to advance decentralization in community governance through the Taiko Grant Factory Hackathon.

The Taiko Grant Factory Hackathon is designed to unleash developer creativity—driving innovation, interactive applications, and projects with real-world impact. After months of intense competition, the finalists are now heading into the voting phase—one of the biggest steps yet toward large-scale, community-driven decision-making.

At the core of this vote is Minimal Anti-Collusion Infrastructure (MACI), a game-changing privacy-preserving and collusion-resistant voting mechanism originally conceptualized by Ethereum co-founder Vitalik Buterin. Vitalik has long pointed out the fundamental flaws of traditional voting systems—fraud, collusion, privacy leaks—and MACI is Ethereum’s answer to fixing them. Dora Factory, the decentralized governance protocol, carried Vitalik’s mission and shipped the best MACI product the market has seen.

For the final round of Taiko’s Grant Factory Hackathon, voting will be executed entirely on-chain via MACI, ensuring encrypted ballots, zero-knowledge proof integrity, and protection against vote buying and collusion. Users will submit their votes through smart contracts, with timestamps recorded on-chain, making the process transparent yet private. At the end of the voting round, results will be revealed by the designated operator, ensuring both fairness and credibility. As an incentive, Taiko is distributing 50,000 Trailblazer points to participants, which will later translate into an airdrop.

“This is decentralization in action,” says Ben Wan, Taiko’s Community Director. “We’re thrilled to bring MACI to this scale and grateful to the community for participating in Taiko’s growth. The future of Ethereum is decentralized, and we’re here to make that happen—together.”

This vote isn’t just big—it’s historic. Over 920,000 participants are taking part, making it the largest whitelisted anonymous community vote in Ethereum’s history

The voting event has attracted significant participation, with more than 920,000 individuals expected to take part, making it one of the largest whitelisted anonymous community votes in Ethereum’s history.

Steve Ngok, Partner at DoraHacks, adds: “We’re incredibly excited to work with Taiko on launching the biggest MACI-powered vote in Ethereum history. DoraHacks and Dora Factory have committed resources to expanding Ethereum’s mission—advancing MACI for decentralized governance and privacy protection. We look forward to exploring MACI’s full potential alongside Taiko and its dynamic community.”

About DoraHacks

DoraHacks is the world’s largest hacker movement and a leading global platform for open-source funding, hackathons, and developer grants. Since its inception in 2014, DoraHacks has empowered 200,000 developers and funded 20,000 innovative startups in multiple frontier tech verticals in Web3, AI, Quantum, and more.

For more information on the Taiko Grants Program, users can visit https://taiko.xyz/grant-program.

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