# The Crime of Privacy

*Author: Bankless*
*Published: May 14, 2024*
*Source: https://www.bankless.com/fr/open-source-injustice*

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[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/05/Frame-50474--7--2--1--4.png)](https://www.bankless.com/sponsor/mantle-1706216729?ref=friendtech-undervalued&email=true)

  
The Crime of Privacy
  

  
  Published on May 14, 2024

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  View in Browser

](https://bankless.com/read/briefs)
 

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[**Sponsor: Mantle**](https://www.bankless.com/sponsor/mantle-1706216729?ref=friendtech-undervalued&email=true) — Mass adoption of decentralized & token-governed technologies.

[Visit mantle.xyz to Learn More](https://www.bankless.com/sponsor/mantle-1706216729?ref=friendtech-undervalued&email=true)

.  .  .

 
  
    

    OPINION

  
  
    
   
A Sad Day for The Netherlands
  
  
   
     
     Bankless Author: 
     
      [
       
       Ryan Sean Adams](https://twitter.com/RyanSAdams)
     
    
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/05/image---2024-05-14T153921.249.png)](https://www.bankless.com/sad-day-for-netherlands-tornado-cash)**This is a sad day for The Netherlands.** It's a sad day for the founding principles of open societies and Western liberal democracies.

Today, crypto privacy developer Alexey Pertsev was sentenced to 5 years in prison by a Dutch court for developing an open-source tool that allows people to keep their crypto transactions private.

Today, they made privacy illegal in an EU country. *You think I'm overstating this.*

Then tell me, what is the legal way to keep peer-to-peer crypto transactions private? We have HTTPS for email and internet messages – what's the equivalent for crypto, and who's building it?

**It doesn't exist because they're putting our devs in jail.**

One judge called Tornado Cash *a tool intended for criminals*. How far we've fallen when our courts assume anyone using privacy tools is a criminal.

Your courtrooms should be celebrating cryptographers as the stewards of the hard-fought democratic freedoms passed down to us from the enlightenment – instead, you jail these patriots and strip the people of the only tools powerful enough to hold back a dystopic feudal age digital panopticon.

If your free society bans privacy and jails developers, then you no longer live in a free society.

The Netherlands has fallen. The EU is slipping.** **

**Will America hold?** All eyes are on [Roman Storm's case](https://x.com/rstormsf/status/1785690155812278478).

.  .  .

 
  
    
      
      NEED TO KNOW
    
    
  
  
    
Pertsev Convicted
  

  

 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/05/Group-15--25-.png)](https://www.bankless.com/dashboard)- 🌪️ **Tornado Cash's Alexey Pertsev Sentenced to 5+ Years in Prison. **The crypto privacy developer was convicted on money laundering charges by Dutch courts.
[*Read more on Bankless.*](https://www.bankless.com/tornado-cashs-alexey-pertsev-sentenced)
- 🇺🇸** Wisconsin Apes Into Bitcoin ETFs. **Wisconsin's Investment Board is loading its bags with IBIT and GBTC.
[*Read more on Bankless.*](https://www.bankless.com/wisconsin-apes-into-bitcoin-etfs)
- 🗳️** Polymarket Raises $45M in Series B Funding.** The predictions market banked new funding from Peter Thiel's Founders Fund and Vitalik Buterin.
[*Read more on Bankless.*](https://www.bankless.com/polymarket-raises-45m-in-series-funding)

.  .  .

 
  
    

    TODAY IN MARKETS

  
  
    
   
Market Preps for ETF Bummer
  
  
   
     
     Bankless Author: 
     
      [
       
       Jack Inabinet](https://twitter.com/JackInabinet)
     
    
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/05/image---2024-05-14T153928.668.png)](https://www.bankless.com/rough-times-for-eth)**📊 Bracing for denial?** ETH’s relative value to BTC has been walloped throughout the month of May. *Why can’t Ether catch a bid, and what impact could the looming spot ETH ETF final decision next week have on your bags?*

[Read More Analysis on Bankless.com](https://www.bankless.com/rough-times-for-eth)

Prices as of 4pm ET
24hr
7d

 

       ![](https://banklesspublic.b-cdn.net/cmc.png)
    

  **Crypto**
   
          $2.25T
       

  
    
    ↘ 2.4%
    
  

   
    
    ↘ 3.4%
    
  

       ![](https://banklesspublic.b-cdn.net/btc.png)
    

  **BTC**
   
          $61,573
       

  
    
    ↘ 2.5%
    
  

   
    
    ↘ 2.4%
    
  

       ![](https://banklesspublic.b-cdn.net/eth.png)
    

  **ETH**
   
          $2,893
       

  
    
    ↘ 2.0%
    
  

   
    
    ↘ 5.2%
    
  

  

.  .  .

 
  
    

    ANALYSIS

  
  
    
   
Is Friend.Tech Undervalued?
  
  
   
     
     Bankless Author: 
     
      [
       
       David C.](https://twitter.com/davewardonline)
     
    
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/05/image---2024-05-14T153936.815.png)](https://www.bankless.com/friendtech-undervalued)**Friend.tech's much-anticipated token launch and product revamp both had rocky debuts last week. **

The community faced issues with a buggy token airdrop process, non-functional new features, and a multi-step claim process requiring people to interact with the protocol’s new features. Now the token is trading around $1.66 [with a market cap just above $155 million](https://dune.com/whale_hunter/friend-tech-ultimate-analytics). On Crypto Twitter, the debate is still raging over **whether FRIEND remains undervalued**, with strong calls and cases made from both sides. 

*Here are the Bull and Bear cases for FRIEND *👇

[Get the Full Details](https://www.bankless.com/friendtech-undervalued)
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