Why Skills-First Leadership Is Replacing the Ivy League Playbook in the C-Suite
05/23/2025
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The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
August 15, 2022: -On Friday, Dutch sources said that they had arrested a man aged 29, considered to be a creator of the crypto mixing service Tornado Cash, which the U.S put on its sanctions list this week.
On Wednesday, the U.S. sanctions announced allegations that Tornado Cash is helping conceal billions in capital flows, including for North Korean hackers.
By cryptocurrencies mix up, the online service is making it possible to conceal the origin or destination of digital payments, increasing their anonymity.
Tornado Cash is one of the giant crypto blenders recognized as problematic by the U.S. Treasury.
The Dutch public prosecutor’s office for serious fraud, environmental crime, and asset confiscation said that Tornado was suspected of having laundered over $7 billion of virtual currency since it was created in 2019.
The FIOD stated that the man arrested in Amsterdam on Wednesday was not identified. He is thought to have helped facilitate illegal transactions, including “funds stolen through hacks by a group believed to be associated with North Korea.” He encounters money laundering charges.
In June, the Financial Advanced Cyber Team division of the FIOD started a criminal investigation into Tornado Cash, the statement said. It found Tornado Cash had been used to conceal large-scale illegal money flows, including the thefts of cryptocurrencies online. Further arrests have not been ruled out, prosecutors said.
Monday’s action froze any U.S. assets of the crypto mixer and generally barred Americans from trading with it.
The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
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