$93,434.00
6.06%$1,801.48
14.32%$2.23
7.44%$618.35
3.01%$150.81
8.51%$0.999902
-0.01%$0.18254
13.79%$0.695449
11.65%$0.249032
1.06%$1,797.09
14.08%$93,395.00
6.14%$22.68
14.67%$2.87
28.35%$14.59
11.91%$9.07
-1.18%$0.267754
9.00%$0.00001379
11.57%$3.15
7.80%$0.183249
7.68%$2,161.46
14.38%$0.999889
0.00%$360.67
4.84%$84.51
7.82%$19.06
3.74%$4.08
9.56%$4.67
4.98%$1.001
0.00%$1,799.64
14.25%$1.00
0.12%$0.653172
3.14%$227.51
5.61%$28.41
0.46%$1,916.21
14.19%$0.0000091
14.40%$93,445.00
6.08%$5.96
13.80%$5.33
10.85%$52.53
3.32%$2.47
13.70%$0.94101
10.56%$24.10
4.36%$337.79
7.43%$5.22
11.06%$32.62
-0.20%$16.95
9.71%$0.092845
13.36%$0.097323
9.70%$1.048
0.12%$1.00
0.00%$163.68
13.86%$4.60
5.62%$0.701958
6.32%$0.02600661
11.55%$1.17
0.14%$4.37
9.06%$0.221708
8.03%$93,197.00
6.23%$0.342032
20.12%$9.40
13.23%$0.215692
13.69%$4.23
-0.04%$2.74
8.69%$2.82
11.94%$0.640609
9.37%$0.521457
13.87%$0.3308
12.06%$0.999369
0.19%$4.13
5.55%$93,517.00
6.70%$10.34
5.62%$0.451129
13.83%$0.759682
9.67%$158.28
9.14%$1,494.88
11.33%$0.674434
45.48%$0.802961
7.43%$0.00001579
26.74%$0.077043
7.14%$1.18
17.41%$0.865238
12.84%$1,798.71
14.12%$1.071
3.88%$0.01676449
4.11%$1,874.98
14.29%$70.44
5.98%$0.674737
6.62%$3.77
4.96%$0.195192
11.57%$9.46
11.87%$0.693045
16.05%$1.00
0.04%$15.88
9.29%$0.999767
-0.01%$0.091516
10.98%$2,025.63
14.06%$1.00
-0.02%$3,367.69
-4.20%$1.00
0.03%$92,955.00
7.63%$618.49
2.99%$0.01638936
16.53%$3,370.38
-3.83%$2.71
17.50%$194.28
8.72%$0.01716031
8.25%$93,449.00
6.25%$166.55
8.63%$0.297787
10.18%$0.809501
15.47%$0.19155
14.25%$1,912.75
14.02%$3.85
11.83%$0.118909
6.33%$0.691886
12.04%$0.998083
0.04%$0.667612
2.50%$0.00006792
17.40%$0.01934369
13.62%$0.504394
21.15%$0.00000064
5.28%$93,613.00
6.58%$0.396886
7.23%$0.999639
-0.00%$31.00
7.40%$2.07
5.40%$1.88
11.98%$1.11
1.80%$0.243564
8.96%$0.311953
3.98%$3.56
9.37%$0.00628697
14.37%$0.545591
8.63%$1,880.55
14.18%$17.07
15.34%$0.155577
10.11%$0.549397
28.72%$33.32
7.13%$0.549547
6.99%$0.558393
27.84%$0.778272
36.85%$0.00885439
7.67%$0.998108
-0.04%$0.645066
10.55%$0.19349
35.86%$0.446351
8.79%$90,260.00
4.74%$0.067301
-1.83%$1.71
7.79%$93,573.00
6.37%$0.182232
13.62%$1.33
8.69%$0.999904
-0.01%$0.04557026
32.85%$0.999904
-0.01%$88,321.00
0.00%$1,853.41
12.64%$15.66
12.19%$0.00002211
7.22%$2.09
5.99%$1,798.67
14.19%$0.00692704
39.51%$0.148997
10.53%$0.00000043
1.11%$110.78
0.01%$93,399.00
6.54%$6.42
16.17%$5.96
10.13%$3.81
10.06%$1.015
1.39%$0.509097
10.13%$1.084
-0.00%$2.52
12.36%$0.077744
9.16%$0.487128
23.53%$0.335302
20.48%$0.04069773
10.31%$1,800.26
14.13%$43.41
10.27%$0.223676
8.91%$1,799.29
14.24%$0.00725282
14.61%$1,912.90
14.03%$0.083061
7.99%$1,801.33
14.25%$0.999458
-0.00%$1.00
0.01%$0.579456
10.99%$21.83
0.46%$0.841267
9.05%$0.004159
3.25%$0.999847
-0.17%$0.17428
3.33%$0.00006379
6.04%$0.351196
31.80%$0.01741472
1.03%$1,833.00
14.35%$0.124163
3.68%$1.002
0.16%$1.00
0.06%$0.03188077
2.10%$0.328736
9.13%$2.73
13.59%$3.73
8.74%$93,364.00
6.18%$115.56
11.21%$0.00000147
16.10%$0.652684
19.91%$1.001
0.06%$0.141763
1.72%$0.238672
10.19%$1.18
7.66%$0.640957
12.13%$1,782.11
14.40%$26.02
6.17%$0.285139
24.84%$92,633.00
4.82%$0.66572
-7.94%$0.999316
0.01%$22.54
8.11%$0.274586
6.02%$0.00393652
68.73%$0.00044962
3.38%$3,187.04
0.00%$1,915.15
15.02%$2.79
1.91%$1,800.52
14.32%$0.188632
9.28%$0.11356
8.74%$22.68
14.66%$0.514042
7.25%$0.0371104
6.30%$1,876.38
6.04%$0.446612
8.31%$0.00283861
10.60%$0.01274204
8.93%$0.965376
18.22%$0.02950808
6.85%$1.049
15.19%$15.19
9.80%$0.729853
10.46%$1,972.70
14.29%$0.236228
19.92%$1,961.24
14.51%$0.999981
0.02%$0.999919
-0.00%$0.00
12.75%$2.23
6.12%$93,540.00
7.72%Reading
Blockchain developer Michael Lewellen has filed a lawsuit against the U.S. Department of Justice, accusing the agency of criminalizing crypto development through an overly broad interpretation of federal money-transmission laws.
Filed Thursday, the lawsuit seeks to prevent prosecution of his decentralized crowdfunding platform, Pharos, which he argues operates outside the scope of these regulations.
Pharos, built on Ethereum, uses “assurance contracts,” which employ smart contracts to hold funds and automatically refund donors if funding goals are unmet.
The lawsuit describes the platform as non-custodial, meaning Lewellen neither holds nor controls user funds.
Lewellen contends that the DOJ’s interpretation of 18 U.S.C. §1960 (Prohibition of illegal money transmitting businesses) improperly classifies non-custodial software developers as unlicensed money transmitters.
The DOJ’s stance “betray[s] its own representations to the public by criminally prosecuting people who publish non-custodial cryptocurrency software,” reads the lawsuit.
“The laws against unlicensed money transmission seek to regulate intermediaries in the sensitive business of moving customers’ money, not technologists who create tools that allow users to move money themselves,” the filing states.
Neither Lewellen nor the DOJ has responded to Decrypt’s request for comment.
The DOJ’s broad interpretation of money transmission laws threatens the ability to build freely,”Lewellen tweeted. “This isn’t just about Pharos; it’s about the future of cryptocurrency innovation in America.”
Today, I’m taking a stand against the Biden administration’s unjust crackdown on crypto development. I’ve filed a lawsuit against the DOJ to challenge their flawed and unjust interpretation of the law.
My work on Pharos—a non-custodial protocol for public goods…
— Michael Lewellen (@LewellenMichael) January 16, 2025
The lawsuit points to constitutional concerns, noting that the DOJ’s actions violate the First Amendment by criminalizing the publication of software code, and the Fifth Amendment by enforcing laws in a vague and arbitrary manner.
As Attorney General Merrick Garland prepares to leave his post, his successor will inherit the case. The incoming Attorney General, former Florida Attorney General Pam Bondi underwent a Senate confirmation hearing on Wednesday.
The lawsuit references the high-profile cases of Tornado Cash developer Roman Storm and Samourai Wallet co-founders Keonne Rodriguez and William Lonergan Hill, as evidence of a troubling expansion of federal authority over non-custodial crypto tools.
In 2023, Storm, along with Roman Semenov, faced charges related to operating Tornado Cash, a crypto mixer accused of facilitating money laundering and violating sanctions laws.
Privacy is not a crime. Yet when it comes to the crypto industry, projects and coins that enable users to tread lightly on-chain are facing higher levels of scrutiny than ever before. In 2024, government-led efforts to combat the use of coin-mixing services continued apace as developers behind Bitcoin Fog, Tornado Cash, and Samouri Wallet all faced challenges in court. Meanwhile, so-called privacy coins faced hurdles as some exchanges stopped supporting them. With Bitcoin’s pioneers drawing ins...
While Semenov remains out of custody, Storm was arrested and is being tried in New York.
In April 2024, federal authorities arrested Rodriguez and Hill, alleging their non-custodial Bitcoin wallet platform, Samourai Wallet, served as a tool for illegal transactions.
Prosecutors claim the wallet facilitated over $2 billion in suspect transfers, including more than $100 million tied to illicit marketplaces on the dark web.
Lewellen’s lawsuit builds on these examples, suggesting that such prosecutions criminalize the development of privacy-preserving tools rather than targeting those directly engaged in illegal activities.
On Tuesday, the U.S. Securities and Exchange Commission formally charged PGI Global CEO Ramil Palafox for allegedly running a $198 million crypto-based Ponzi scheme five years ago, accusing him of duping investors with false promises of AI-driven trading and guaranteed returns. More than $57 million of those funds in fiat and Bitcoin were misappropriated for Palafox’s personal use and to benefit his close associates, the SEC alleged in a statement. The case against Palafox, filed in the U.S. Di...
Former SEC Chairman Jay Clayton officially assumed his role Tuesday as U.S. Attorney for the Southern District of New York, one week after being appointed interim attorney by President Trump. Clayton now leads one of the most influential prosecutorial offices in the U.S., known for its jurisdiction over Wall Street and a history of high-profile financial crime cases. The Southern District has long played a central role in enforcing corporate accountability and shaping financial regulation. In a...
Yuga Labs has filed a turnover order in the U.S. District Court for the Central District of California, in an effort to seize crypto assets held by influencer Jeremy Cahen, also known online as Pauly0x. The assets, spread across four wallets, include Bitcoin, Ethereum, and PEPE coin, and total nearly $400,000 as of last October. Yuga Labs sued Cahen and artist Ryder Ripps in July 2022 for infringing on Yuga Labs’ trademark through the sale of the Ryder Ripps Bored Ape Yacht Club NFT collection....
