The number of users of crypto mixer Tornado Cash halved due to U.S. sanctions

U.S. Treasury sanctions have led to a decrease in the number of unique users as well as weekly deposits of funds.

Tornado Cash is experiencing a decline in activity due to U.S. Treasury sanctions. Dune data shows a significant drop in unique users per week since the sanctions were announced in August 2022. In September, the number of individual users was well below 100.

Monthly users also fell by more than 50%, from more than 2,600 in July to less than 1,300 the following month. This represents a 52% drop in users.

The arrested Tornado Cash developer denied an appeal.

Other members of the Tornado Cash team have also been arrested as part of the fight against the mixing service. Yes, by name and detail - authorities in the Netherlands arrested developer Alexei Pertsev. He recently appealed his arrest, but it was denied. He will remain in prison for at least two more years. But we've already kind of talked about that.

As you can see, the U.S. sanctions affect crypto issues (the Fed's rates haven't really denied it). Although the point here is more that mixers are shadier and not as restriction-friendly an industry as it seemed, at least. Judging good/bad is up to you, but it's an interesting fact...