Tornado Cash Ethereum Token TORN Down 50 After Sanctions

In the week following the sanctioning of the Tornado Cash website by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC), the price of the token underpinning the system is down 56%, starting the week at a high of $31.56 and ending the week at a low of $13.09, according to CoinMarketCap. Tornado Cash (TORN) is an ERC20 token and the native token of the Tornado Cash DAO, used to manage governance and voting. It’s currently the 691st largest cryptocurrency, with a market capitalization of $15.5 million. Launched in 2019.