BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
FOLLOW
BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
BlockNews

Shark Tank Host Kevin O’Leary Says Tornado Cash is Useless

by BlockNews Team
August 15, 2022
in Crypto
A A
Shark Tank Host Kevin O’Leary Says Tornado Cash is Useless
1
SHARES
Share on TwitterShare on Reddit

Entrepreneur and investment advisor Kevin O’Leary spoke about Tornado Cash as “cowboy crap” in the cryptocurrency market. He said that the blockchain sector needs to implement rules to make crypto feel like proper institutions than a “wild west” environment filled with outlandish systems.

Tornado Cash allows any user to do transactions incognito, which led the Treasury to believe there were numerous suspicious payments.

Kevin “Mr. Wonderful” O’Leary called out on the Ethereum-based mixing service as a short-term platform and will die out in the future of cryptocurrency.

He also showed no remorse for the arrest of Alexey Pertsev, the developer for Tornado Cash. According to Mr. Wonderful, sacrificing Pertsev is alright if it would mean segregating the legitimate digital assets from the scummy ones.

Most of the Crypto Community Disagrees with O’Leary

Crypto experts contradicted O’Leary’s opinion about crypto mixers as platforms like Tornado Cash provides privacy and keeps the purpose of “decentralization” for transactions. Even though governments are against secret payments, developers continue to create more privatization for both the buyer and seller without the state’s prying eyes.

When the Tornado Cash GitHub account was removed, Patrick Collins, the Chainlink Lead Developer, called this move worse than a sanctioned website. To him, the first amendment of the US constitution is violated.

Gnosis co-founder Stefan George said that the Tornado Cash protocol provides privacy for the Ethereum blockchain and its open-source app works as freedom of speech. Meanwhile, Anthony Sassano, an Ethereum researcher, was suspended from the AAVE DeFi platform after receiving 0.1 ETH from an anonymous Tornado Cash address.

Sassano called this temporary ban a “problem” for governments as Ethereum is taking full advantage of decentralization: a purpose lost in Bitcoin. Since 2019, Tornado Cash has cycled over $9 billion worth of smart contracts based on a Dutch regulator. This huge amount made the US Treasury shut down Tornado Cash and accused it as a platform for money laundering.

Tags: Blockchaincryptotank
TweetShareShare

DON'T MISS THESE! HOT OFF THE PRESS

Spot Altcoin ETFs Nearing Approval as SEC Engagement Boosts Optimism
Crypto

Spot Altcoin ETFs Nearing Approval as SEC Engagement Boosts Optimism

June 20, 2025
XRP Stuck Below $3 as Network Activity and Open Interest Decline
Crypto

XRP Stuck Below $3 as Network Activity and Open Interest Decline

June 20, 2025
Elon Musk Sparks Brief PEPE Rally With Another Meme Post
Crypto

Elon Musk Sparks Brief PEPE Rally With Another Meme Post

June 20, 2025
XRP Holds Steady Near $2.15 as Market Stagnation Drags On
Crypto

XRP Holds Steady Near $2.15 as Market Stagnation Drags On

June 20, 2025
XRP Positioned for Breakout Amid Global Uncertainty, Analysts Say
Crypto

XRP Positioned for Breakout Amid Global Uncertainty, Analysts Say

June 20, 2025
XRP at a Crossroads: Only Two Ways This Can Go
Crypto

XRP at a Crossroads: Only Two Ways This Can Go

June 20, 2025
Load More

Related News

Spot Altcoin ETFs Nearing Approval as SEC Engagement Boosts Optimism

Spot Altcoin ETFs Nearing Approval as SEC Engagement Boosts Optimism

June 20, 2025
XRP Stuck Below $3 as Network Activity and Open Interest Decline

XRP Stuck Below $3 as Network Activity and Open Interest Decline

June 20, 2025
Vladimir Putin Says Global Tensions Edge Toward World War III

Vladimir Putin Says Global Tensions Edge Toward World War III

June 20, 2025
Elon Musk Sparks Brief PEPE Rally With Another Meme Post

Elon Musk Sparks Brief PEPE Rally With Another Meme Post

June 20, 2025
XRP Holds Steady Near $2.15 as Market Stagnation Drags On

XRP Holds Steady Near $2.15 as Market Stagnation Drags On

June 20, 2025
Discord Twitter Youtube TikTok Instagram

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • Home
  • Crypto
  • Memecoins
  • Technology
  • Politics
  • Finance
  • NFT
  • DeFi
  • Opinion

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.