Jack Recider

And it just makes me wonder if these sanctions have any teeth at all. If you ever hear of anyone who gets arrested for violating the tornado cash sanction, please tell me. I would love to know. Because what's the point of all this if the government isn't going to enforce the sanction at all? Because it almost feels like the government is powerless here.

And it just makes me wonder if these sanctions have any teeth at all. If you ever hear of anyone who gets arrested for violating the tornado cash sanction, please tell me. I would love to know. Because what's the point of all this if the government isn't going to enforce the sanction at all? Because it almost feels like the government is powerless here.

It has no ability to stop or control cryptocurrency or from people using apps like this. This is what permissionless money is like. And I don't see any evidence that the government is even trying to enforce sanctions. The sanctioned code is still there on GitHub. YouTube happily hosts videos on how to avoid sanctions and still use tornado cash. What is happening here?

It has no ability to stop or control cryptocurrency or from people using apps like this. This is what permissionless money is like. And I don't see any evidence that the government is even trying to enforce sanctions. The sanctioned code is still there on GitHub. YouTube happily hosts videos on how to avoid sanctions and still use tornado cash. What is happening here?

Just a month ago, the SEC approved the Ethereum ETF. This means you can buy this stock on the regular stock exchange and they'll buy ETH for you. It's a way to invest in Ethereum without actually holding Ethereum. So there's this wallet out there which holds all the ETH from this ETF. Well, guess what?

Just a month ago, the SEC approved the Ethereum ETF. This means you can buy this stock on the regular stock exchange and they'll buy ETH for you. It's a way to invest in Ethereum without actually holding Ethereum. So there's this wallet out there which holds all the ETH from this ETF. Well, guess what?

As soon as the internet figured out which wallet is holding the money for the ETF, someone sent a whole ETH token worth over $3,000 through Tornado Cash and then to the ETF wallet, which in my opinion means the wallet is now violating sanctions and can no longer buy or sell on an exchange. They did it to protest these sanctions, to show that there's absolutely no way to enforce this.

As soon as the internet figured out which wallet is holding the money for the ETF, someone sent a whole ETH token worth over $3,000 through Tornado Cash and then to the ETF wallet, which in my opinion means the wallet is now violating sanctions and can no longer buy or sell on an exchange. They did it to protest these sanctions, to show that there's absolutely no way to enforce this.

And I guess this means Tornado Cash won. There's no way to stop it or to stop people from using it. And so today, there's still millions of dollars flowing through Tornado Cash.

And I guess this means Tornado Cash won. There's no way to stop it or to stop people from using it. And so today, there's still millions of dollars flowing through Tornado Cash.

It is a very murky world. Because let's say, hey, I'm selling something online and someone's like, I'll buy it. And they send me the cryptocurrency that's been mixed through Tornado Cash. Am I supposed to say, oh, wait a minute, before you send me the money, let me analyze your wallet to make sure it doesn't have any sanctioned crypto in it? This is bonkers.

It is a very murky world. Because let's say, hey, I'm selling something online and someone's like, I'll buy it. And they send me the cryptocurrency that's been mixed through Tornado Cash. Am I supposed to say, oh, wait a minute, before you send me the money, let me analyze your wallet to make sure it doesn't have any sanctioned crypto in it? This is bonkers.

This is like running the serial number on every dollar bill you ever get to see if it's ever been used by someone who's been sanctioned in the past. That would be a nightmare to have to do. Yet that's what I feel like we have to do from now on. Yeah, so suddenly I'm wondering why the U.S. is even involved, right? So it's

This is like running the serial number on every dollar bill you ever get to see if it's ever been used by someone who's been sanctioned in the past. That would be a nightmare to have to do. Yet that's what I feel like we have to do from now on. Yeah, so suddenly I'm wondering why the U.S. is even involved, right? So it's

Axie Infinity is based in Philippines, so I could see the Philippine police being upset. Vietnam. Oh, Vietnam. Okay, so I could see the Vietnamese being like, all right, we've got to sanction this because we don't have any other way, right? And then you've got the creators of Tornado Cash. They're not U.S.-based, are they?

Axie Infinity is based in Philippines, so I could see the Philippine police being upset. Vietnam. Oh, Vietnam. Okay, so I could see the Vietnamese being like, all right, we've got to sanction this because we don't have any other way, right? And then you've got the creators of Tornado Cash. They're not U.S.-based, are they?

Right. I don't know if there's the word trad cry, but traditional crime is based with people in countries, and those countries can deal with that or whatever. And here we have a new kind of crime, which is there is no boundary. There is no country. There is no head of some company. There is no person controlling the code. I don't even know if it is a crime. We haven't even established that.

Right. I don't know if there's the word trad cry, but traditional crime is based with people in countries, and those countries can deal with that or whatever. And here we have a new kind of crime, which is there is no boundary. There is no country. There is no head of some company. There is no person controlling the code. I don't even know if it is a crime. We haven't even established that.

There's laws that are established to avoid money laundering that may have been... What's going on? It's another person in another country that did it, right?

There's laws that are established to avoid money laundering that may have been... What's going on? It's another person in another country that did it, right?