VanEck Predicts $330 Solana Price, Tornado Cash Developer Faces Trial: Key Updates

Crypto investors are increasingly optimistic as VanEck forecasts Solana's (SOL) price could surpass $330, driven by the blockchain’s superior scalability and transaction capacity compared to Ethereum. VanEck’s report, released on September 25, highlights Solana’s higher transaction throughput—3,000% greater than Ethereum—and significantly lower transaction fees, positioning it as a serious competitor for use cases such as payments and remittances, especially in decentralized finance (DeFi).

In contrast, the privacy-focused DeFi sector faces challenges, as Tornado Cash co-founder Roman Storm prepares for trial after a U.S. judge rejected his request to dismiss charges. Storm, along with co-founder Roman Semenov, faces multiple counts, including conspiracy to launder money and violate sanctions, related to the operations of the Tornado Cash cryptocurrency mixer. The case is seen as a key legal battle for privacy technologies in the blockchain space.

SEC Chair Gensler Pushes for Expanded Exchange Definition, Raising Crypto Concerns

U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler confirmed the agency's intention to continue pushing for changes to the definition of "exchange" and alternative trading systems during his speech at the US Treasury Market Conference on Sept. 26. While Gensler's remarks focused on enhancing the efficiency and resilience of the Treasury bond market, the proposed changes have drawn significant criticism from the cryptocurrency industry.

Broadening Dealer Definitions to Include More Market Players A key SEC initiative involved updating the definition of “dealer,” aimed at including principal-trading firms that use high-frequency and algorithmic trading strategies. While these changes, proposed in 2022, were meant to strengthen the Treasury market, they faced opposition from pro-crypto advocates concerned about their potential impact on digital asset trading. Despite the pushback, the rule changes were officially adopted in February.