A tornado hits crypto town… The DOJ charged two developers of sanctioned crypto mixer Tornado Cash, alleging they helped facilitate $1B in money laundering (benefiting North Korean hackers). Crypto experts say the case poses a vexing question: can publishing software be criminalized? TC is a privacy-focused smart contract, and developers can’t always control what people do with their code once it’s released. FYI: the gov’t said the two knew they were helping fraudsters. Now crypto’s on edge, as smart-contract makers consider legal risk.
New school year… same backpack. Back-to-school spending is expected to hit a record $41.5B this year as prices rise. Now parents are going bargain hunting: ~70% of shoppers looked to Amazon’s Prime Day for deals. Walmart and Target have been offering deals on school supplies for months, and Crayola said discounts helped drive sales. With US household debt at a record high, 43% of school shoppers are financing their purchases.