Today in crypto, Tornado Cash’s Roman Storm’s lawyers are reportedly looking into a motion for mistrial over a government witness’s testimony. BitGo is going public in the United States and crypto investment funds saw a record $4.4 billion in weekly inflows.
Roman Storm could ask for mistrial over scam victim’s testimony
Tornado Cash co-founder Roman Storm’s lawyers could be considering a motion for mistrial over a government witness they claim had nothing to do with the crypto mixer.
Storm’s defence floated the idea of a mistrial with Manhattan federal judge Katherine Polk Failla on Monday, questioning the testimony of government witness Hanfeng Lin on Tuesday, Inner City Press reported.
If allowed, a mistrial ruling would see Storm’s trial considered invalid due to a judicial error — which in this case could be evidence that should have been excluded — and it could be dismissed in its entirety or retried with a new judge and jury.
Storm is facing up to 45 years in prison after being charged in 2023 with money laundering conspiracy, conspiracy to violate US sanctions, and conspiring to run an unlicensed money laundering business in connection with Tornado Cash, the crypto mixing service he co-founded.
He was charged alongside fellow co-founder Roman Semenov, who has not appeared in court and is believed to be in his native Russia.
BitGo files for US IPO as crypto custody business surpasses $100B
Digital asset custodian BitGo has filed paperwork to pursue an initial public offering (IPO) in the United States, highlighting the crypto industry’s continued push toward mainstream financial markets.
On Monday, BitGo announced it had confidentially submitted a draft registration statement on Form S-1 to the Securities and Exchange Commission (SEC) for a proposed IPO of its Class A common stock. At the time of filing, no determination was made on the number of shares or price range of the stock offering.
As of publication, the registration statement had not yet appeared on the SEC’s EDGAR database.
BitGo is one of the crypto industry’s largest custodians, with assets under custody surpassing $100 billion in the first half of 2025, up from $60 billion at the start of the year, according to Bloomberg.
The IPO comes as BitGo seeks to expand its presence overseas, with the company recently securing regulatory approval in the European Union under the Markets in Crypto-Assets (MiCA) framework. As reported by Cointelegraph, the approval extends BitGo’s digital asset services across the EU.
Crypto funds post record $4.4 billion inflows as Ether ETPs break 2024 gains
Cryptocurrency investment products posted record-breaking inflows last week as they recorded gains for a 14th consecutive week.
Global crypto exchange-traded products (ETPs) recorded $4.4 billion of inflows for the trading week that ended Friday, CoinShares reported on Monday.
The inflows came amid Bitcoin (BTC) surging past $122,000 for the first time on July 14, then dropping to an intraweek low of about $116,000 before finishing the trading week at around $120,000, according to CoinGecko data.
With the fresh gains, the year-to-date (YTD) inflows in crypto ETPs climbed to a new high of $27 billion, while total assets under management (AUM) for the first time broke $220 billion.
Ether (ETH) ETPs set multiple records last week, with 2025 inflows surpassing 2024 totals at $6.2 billion, while weekly inflows hit double the previous record at $2.12 billion, CoinShares’ head of research James Butterfill wrote in the report.
The latest inflows came as ETH surged past $3,500 for the first time since early January. The highs followed several months of downward pressure that pushed ETH below $1,500 in April, according to CoinGecko.
“The past 13 weeks of inflows now represent 23% of Ethereum AUM,” Butterfill noted.
Bitcoin ETP inflows remained resilient as BTC reached new all-time highs, contrasting with the slowdown seen in early July, a dip Butterfill attributed to growing caution as Bitcoin neared record levels.
According to the latest update, Bitcoin funds posted $2.2 billion of inflows last week, accounting for 50% of total crypto ETP inflows.