Tornado Cash narxiTORN

Bears about to get torn a new areshole, bookmark it!

Coinbase Global will become the first-ever crypto company to be included in the benchmark index next week. The San Francisco-based crypto exchange will replace Discover Financial Services in the S&P 500 on May 19, according to the release. “Thank you to everyone who made it possible for a crypto company to join the S&P 500 for the first time in history,” the firm stated on X. The S&P 500 is a coveted index for large companies opening up their stock to a broader investor base. It also provides exposure to passive funds that track the benchmark and actively managed funds that may have limitations on where they can invest. Coinbase, the first major cryptocurrency company to go public in 2021, managed to report a profit for the last quarter, which is a requirement for inclusion in the S&P 500. “This milestone represents what the true believers, from retail investors to institutional investors to our employees and partners, knew all along. Crypto is here to stay,” said Coinbase CEO Brian Armstrong . He added two further thoughts: “Crypto is about to be in everyone’s 401 (k)” pension fund, and his goal is that in 5 to 10 years, “getting into the COIN50 index will feel as good as this.” Coinbase shares jumped 11% in after-hours trading on May 12, to come just below $230, according to Google Finance. However, the firm’s shares have had a tough year, falling 41% since the beginning of 2025 as the Trump administration’s trade tariffs have torn through stock markets. The S&P 500 climbed 3.2% on Monday as the recovery from its early April slump continues, but the index remains down 37% since the beginning of this year. Last week, Coinbase reported a disappointing first quarter, citing a fall in crypto prices alongside the broader market, due to tariffs and economic uncertainty. The crypto exchange reported a net income of $65.6 million, down from $1.18 billion a year earlier. However, revenue was up 24% to $2.03 billion from $1.64 billion in the same period a year ago. Coinbase also announced plans earlier this month to buy Dubai-based crypto derivatives exchange Deribit for $2.9 billion in the largest crypto industry deal to date.

After 2 weeks of consistent 10:30 magic it's been 15 minutes of nothing. Think the market is pretty torn going into the weekend. A pullback would be more than expected after an insane two weeks of pretty much up only. Or do bulls want to finish Friday really strong...

A US federal court has officially overturned its previous support for the Treasury’s sanctions on Tornado Cash. This has dealt a blow to the Office of Foreign Assets Control (OFAC) and given privacy advocates something to toast. The ruling suggests that OFAC’s original sanctions violated the Administrative Procedure Act. The old legal framework basically implied that “follow the rules, even if you’re the government.” As of now, the OFAC is legally barred from reinstating its old sanctions and it cannot reimplement them unless they do it by the book. Coinbase legal head, Paul Grewal in a X post, mentioned that the 5th Circuit court ruled against the government in November, but it has been repeatedly trying to avoid entry of a final judgment in the Tornado Cash case. The defendant in the case, the Department of the Treasury, had asked the court twice for long delays before claiming the case was moot, where no final judgment was needed. It was done by the defendant as they had chosen to remove Tornado Cash from the Sanctions List in “their discretion.” Grewal highlighted that the court said no to this nonsense and OFAC is now legally prohibited from reinstating the original sanctions. He congratulated the plaintiffs and commended their courage to stand up to their own government for their rights under law. Reacting to the major win, Tornado Cash (TORN) price increased by over 7% in the last 24 hours. TORN price has surged by 201% in the last year. It is trading at an average price of $7.93 with a trading volume of $132k. Meanwhile, it is still down by 98% from its all time of $437, recorded on Feb 13, 2021. The global digital assets market remained calm on Tuesday morning as the Bitcoin price still hovers around the $94K-$95K zone. The cumulative crypto market stood at $2.98 trillion moving towards the much-anticipated $3 trillion mark. Tornado Cash was sanctioned in 2022 for allegedly laundering crypto for North Korea’s Lazarus Group and now it got a breather. Documents mention that Plaintiffs moved for an entry of final judgment on February 3, 2025, where they requested the court to issue a revised final judgment. However, the Defendants indicated their intent to respond and filed on March 18, asking for additional time. In a scathing order, the court said you can’t just hit the “moot” button and reset the board when you’re losing. The sanctions were meant to be fully litigated and so pausing the game and flipping the rules, that’s not how constitutional authority works. The court cited the US Supreme Court’s recent decision in FBI v. Fikre (2024) that a live case or controversy cannot be so easily disguised, and a federal court’s constitutional authority cannot be so readily manipulated.” As a result, the court granted the Plaintiffs’ Motion for Summary Judgment under the Administrative Procedure Act and denied the government’s corresponding motion, vacated its earlier final judgment. However, it confirmed that it will issue a new final judgment setting aside the agency’s determination as unlawful. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot

SignalPlus Macro Analysis: The Tariff-Torn M2 Narrative and the Return of TradFi-Style FOMO