The federal appeals court has overturned the U.S. Treasury Department's sanctions against Tornado Cash, a cryptocurrency mixing software, on November 26. A three-judge panel concluded that the Treasury Department exceeded its authority by sanctioning software instead of specific individuals or organizations.

- Coinbase has supported this legal challenge, arguing that completely blocking open-source technology is unreasonable.

- The price of Tornado Cash's TORN token surged more than 850% after the ruling but is still down 96% from its all-time high.

This is a historic victory for privacy and blockchain technology. 🚀