The Daily: US appeals court rules OFAC exceeded its authority in Tornado Cash sanctions, WalletConnect launches its first airdrop season and more
2024-11-28

Happy Wednesday! In today’s newsletter, a U.S. appeals court rules that the Treasury exceeded its authority in sanctioning Tornado Cash, WalletConnect launches its first airdrop season, a Brazilian lawmaker introduces a bill to establish a national bitcoin reserve and more.
Meanwhile, visionary or 'financial comedy'? Market participants weigh MicroStrategy's stock premium amid its bitcoin buying spree.
Plus, Tether’s commodities liquidity pool could hit $5 billion by 2026, according to CEO Paolo Ardoino.
Let’s get started.
US appeals court says Treasury 'overstepped' authority in Tornado Cash sanctions
The Fifth Circuit Court of Appeals ruled on Tuesday that the Treasury Department’s Office of Foreign Assets Control (OFAC) ”overstepped its authority” by sanctioning crypto mixer Tornado Cash, reversing a lower district court decision.
WalletConnect launches first airdrop season with 50 million tokens allocated to community members
WalletConnect has launched its first airdrop season and eligibility checker, allocating 50 million of the total supply of 1 billion WCT tokens to over 160,000 users, including builders and contributors.
Brazilian lawmaker proposes national bitcoin reserve to hedge economic risks
A Brazilian lawmaker has introduced a bill to create the Strategic Sovereign Bitcoin Reserve, allocating up to 5% of the nation’s $372 billion financial assets to the cryptocurrency via a phased acquisition strategy.
Flashbots unveils BuilderNet to combat centralization in Ethereum’s block-building
Blockchain research and infrastructure provider Flashbots has launched BuilderNet, claiming to address Ethereum's block-building centralization.
Tether to end support for EURT stablecoin citing MiCA regulations, falling demand
Tether is discontinuing support for its Euro stablecoin, EURT, citing the European Union’s Markets in Crypto-Assets (MiCA) regulations and falling demand.
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