Overview

• Assistant U.S. Attorney Thane Rehn revealed in New York federal court that charges against Tom Schmidt and other Dragonfly partners remain under consideration.
• Federal agents raided Schmidt’s home and seized electronic devices as part of the criminal investigation linked to Roman Storm’s trial.
• Court evidence included emails showing Schmidt and co-founder Haseeb Qureshi discussed implementing know-your-customer measures with Tornado Cash developers.
• Schmidt invoked his Fifth Amendment right when called to testify and defense lawyers have petitioned for immunity to secure his account.
• No indictments have been filed yet as the DOJ evaluates a novel theory of extending investor liability that could alter funding risks for privacy-focused crypto ventures.