Originally published by Financial Times
Plus, Coinbase’s tough year continues and job losses in a growing metaverse industry
This week, we got a reminder of what happens when the grand decentralised crypto worldview meets the US sanctions regime. Spoiler alert: the US sanctions regime wins.
The US Treasury’s target this week was Tornado Cash, a so-called crypto mixing service that allows users to break the traceability of their activity on the Ethereum blockchain.