“Privacy won. Smart contracts won. Tornado Cash won. And OFAC lost,” Balaji Srinivasan, Coinbase’s former CTO and prominent crypto entrepreneur, said Wednesday on X, formerly Twitter.

Crypto markets immediately took inspiration from the news: TORN, Tornado Cash’s native token, surged over 380% early Thursday. 

While privacy coins as a category have since tapered off to less than 2% in total gains over the past 24 hours, decentralized finance’s market cap has jumped 8.2% and a further 21.5% on the week, data from CoinGecko shows.

Among the largest gainers is Uniswap (UNI), up 11% on the day to an eight-month high just above $12.50. Aave (AAVE) and Ethena (ENA) have also hit their strides, up 8.6% and 23%, reaching their highest point in 2.5 years and five months, respectively.

“As Ethereum remains the leading blockchain for DeFi, this decision is viewed positively for the broader DeFi ecosystem and other protocols, particularly on the Ethereum network. This could

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Author: Vince Dioquino