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Blast, the new Ethereum layer-2 network, is seeing strong growth as the crypto rally continues. According to its website, the network is seeing strong developer interest and inflows from global investors. The Total Value Locked (TVL) in its ecosystem has jumped to over $1 billion while the total bridged assets have soared to over $2.
A proposal aiming to contribute to funding the legal defense of the developers of Tornado Cash, the Ethereum-based mixing platform, was removed by the Arbitrum community over apparent legal concerns.
On Monday, Hop DAO held a vote on the blockchain to sell 25% of its Arbitrum holdings, totaling over 200,000 ARB tokens, valued at $2.075. This decision was made to finance the DAO's operational costs.
Hop DAO executed an on-chain vote on Monday to sell 25% of its Arbitrum holdings, or more than 200,000 ARB, to cover its operational expenses.
The Arbitrum DAO recently made a decisive move by scrapping a proposal aimed at providing financial backing for the legal defense of Tornado Cash's developers. This contentious plan had proposed channeling close to $1.3 million in ARB tokens from the community's reserves to assist Roman Storm and Alexey Pertsev.
Arbitrum's decentralized autonomous organization (DAO) has withdrawn a proposal aimed at funding the legal defense expenses of Tornado Cash's developers. In a Mar. 9 post on social media platform X (formerly Twitter), Joseph Axisa, the Arbitrum DAO contributor who wrote the proposal, explained that it was removed for further refinements.
Arbitrum is poised to release approximately 1.1 billion locked ARB tokens, constituting around 76% of the token's circulating supply. This unlock will inject significant liquidity into the market, with the tokens currently valued at $2.32 billion.
Token Unlocks highlighted that Arbitrum will do a “Cliff Unlock,” where tokens are released in a lump sum at the deadline.
In a flurry of activity, whale transactions on the Arbitrum network have surged, creating ripples in the crypto space. As the market observes large quantities of the layer-2 (L2) token Arbitrum (ARB) being transferred to exchanges, speculation and interest in the broader market have intensified.
According to the Arbitrum DAO, the proposal was removed at the author's request. However, supporters are still looking for alternative methods to support Tornado Cash.
In an unexpected twist, Arbitrum DAO has decided to backtrack on its recent proposal to allocate up to $1.2 million to Tornado Cash developers, Roman Storm and Alexey Pertsev, embroiled in legal battles. The Block confirmed the withdrawal, shedding light on the challenges faced by developers creating crypto-mixing services amid mounting regulatory pressure.
The author of an ArbitrumDAO proposal, aiming to contribute up to $1.28 million in cryptocurrency towards supporting Tornado Cash developers Roman Storm and Alexey Pertsev's legal defense against criminal charges, has retracted the proposal. As per the latest reports, token holders raised concerns regarding potential legal risks associated with such a donation, prompting the deletion
The spurt in whale transactions comes ahead of two pivotal events in Arbitrum's ecosystem.
The Arbitrum community was surprised by the sudden removal of a proposal seeking financial backing for the legal defence of Tornado Cash developers. The initiative, spearheaded by a delegate known as DK, aimed to allocate approximately $1.3 million worth of ARB tokens from the community wallet to support Storm and Pertsev's legal battle.
A controversial proposal by an Arbitrum contributor to donate cryptocurrency towards the legal defense of Tornado Cash developers has been withdrawn.
Arbitrum DAO pulls back its million-dollar donation proposal for Tornado Cash devs due to legal risk concerns.
The pseudonymous author of the Tornado Cash Trial FundRaiser on Arbitrum unexpectedly takes the proposal down.
The Arbitrum DAO proposal aimed at donating to Tornado Cash developers was removed over legal concerns.
The proposal, which would have seen up to $1.3 million donated to the Tornado Cash devs' legal defense fund, was pulled over legal concerns.
Arbitrum, a prominent Layer-2 network built on Ethereum, experienced a decline in its native cryptocurrency ARB compared to other leading Layer-2 assets in the past day. This dip comes amid anticipation surrounding two significant events expected to influence its price.
An Arbitrum spokesperson confirmed that the proposal to fund Tornado Cash developers' legal defense had been deleted at the author's request.
The upcoming token unlock and the Ethereum Dencum upgrade. If ARB manages to surpass the resistance level of $2.15, it could see a further increase to $3.
2024: Up to $3.122027: Up to $9.482030: Up to $27.262033: Up to $80.77Scaling solutions like Arbitrum are revolutionizing blockchain efficiency, with Ethereum users benefiting from faster transactions. Is Arbitrum set to challenge Ethereum's dominance, or will users stick around for anticipated upgrades?
The crypto sphere is gearing up for a seismic event as Arbitrum, Ethereum's layer 2 scaling protocol, prepares for a significant token release on March 16, 2024. With over $2 billion worth of ARB tokens set to unlock, constituting a substantial 87% of the circulating supply, the crypto community is abuzz with speculation about potential market dynamics and the looming specter of a price dump.
