Tornado Cash Developer To Be Released, TORN Price Skyrockets 20%

Tornado Cash developer Alexey Pertsev will be released from jail by authorities. He was detained by the Netherlands authorities in August after the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) imposed sanctions on the crypto mixing service.

According to sources, the Dutch court has approved some relief for Tornado Cash developer Alexey Pertsev. He will remain under house arrest with an ankle monitor and surveillance from next week.

Alexey Pertsev has been in pre-trial detention since August, with no formal charges presented so far. The crypto community is disappointed with the detention of developer Pertsev and even protested against the authorities. Earlier, a panel of Dutch judges denied bail due to flight risk.

The next hearing is scheduled for tomorrow, April 21, and further investigation is on May 24. Alexey Pertsev’s lawyer Keith Cheng seeks to challenge prosecutors’ allegations that Pertsev and others ran Tornado like a business rather than merely publishing code.

TORN Price Jumps 20% on Tornado Cash Developer Release

Tornado Cash (TORN) price skyrocketed over 20% in the last 24 hours, with the price currently trading at $10.45. The 24-hour low and high are $8.48 and $10.88, respectively. Furthermore, the trading volume has increased by 235% in the last 24 hours, indicating an increase in interest among traders.

As per the investor sentiment, TORN price can pump to $20 if the Tornado Cash developer Alexey Pertsev is released. If exchanges such as Coinbase list TORN, the price can rally over $50. Coinbase fully supports Tornado Cash developer Alexey Pertsev.

Also Read: Binance CEO “CZ” Downplays Post-Halving Bitcoin Price Prediction By ChatGPT