Quick Take
Court overturns Tornado Cash sanctions.
Succinct introduces SP1 Turbo.
Securitize daily dividends for BlackRock BUIDL.
Blob Parameter Only (BPO) Forks.
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Court Overturns Tornado Cash Sanctions
The U.S. Court of Appeals for the Fifth Circuit overturned sanctions on Tornado Cash smart contracts, ruling that the U.S. Treasury exceeded its statutory authority. The court determined that immutable smart contracts do not qualify as “property” under the International Emergency Economic Powers Act (IEEPA) because they cannot be owned, controlled, or altered. The legal victory comes ahead of Tornado Cash developer Roman Storm’s trial, scheduled to begin on April 14, 2025. On August 8, 2022, the Office of Foreign Assets Control (OFAC) sanctioned Tornado Cash, alleging it facilitated money laundering for malicious actors, including North Korea’s Lazarus Group. Tornado Cash is a privacy tool designed to help users protect the privacy of their funds.
Succinct Introduces SP1 Turbo
Succinct launched SP1 Turbo, an upgraded version of its general-purpose zkVM, delivering significant improvements in cost, latency, and performance for zero-knowledge (ZK) workloads. Key features of SP1 Turbo include near real-time Ethereum proving, parallel proof generation across GPU clusters, and the addition of new precompiles for advanced cryptographic operations. SP1 Turbo is optimized for tasks like zkEVMs, rollups, light clients, signature verification, and other blockchain computations. Developers can run the SP1 Turbo locally or via the Succinct Prover Network Beta.
BlackRock BUIDL Daily Dividends
Securitize unveiled two new features for BlackRock's BUIDL tokenized treasury fund. Investors can now receive daily dividends, replacing the previous monthly distribution model, and redeem holdings multiple times throughout the day for enhanced flexibility. The updates are designed to improve liquidity and accessibility for BUIDL investors. BlackRock’s BUIDL is a U.S. Treasury fund tokenized as an ERC-20 token available on Ethereum and Layer 2 networks. The fund invests in U.S. Treasury bills, notes, cash, and repurchase agreements.
Blob Parameter Only (BPO) Forks
Ethereum developer Proto.eth introduced a framework for safely and continuously scaling blobs on Ethereum, called Blob-Parameter-Only (BPO) Forks. BPO forks are small, targeted hard forks that adjust only two parameters: blob targets and blob limits. The framework aims to balance solo stakes bandwidth requirements with Layer 2 data availability (DA) needs to maintain competitive transaction costs. It also seeks to distribute the operational burden of hard forks between L1 and L2 teams, ensuring a more collaborative process.
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