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Slovakia's National Council has voted to reduce taxes on profits from crypto sales and taxation on payments under $2,600.

Arbitrum (ARB) price crashed 10% on Wednesday after developers of the Abirtrum-based DeFi project, Chibi Finance, carted away users' funds worth $1 million. On-chain data flashes mixed signals as the ARB community struggles to come to grips with the network's latest rug pull.

Circle's new protocol purports to eliminate the requirement for third-party bridges to transfer USDC from one network to another.

Abitrum has hit a key supply area but could surmount it if BTC remains bullish in the short term.

According to several reports, Chibi Finance, the decentralized finance (defi) platform built on top of Arbitrum, allegedly executed an exit scam on its users. Blockchain intelligence firm Peckshield provided a detailed account, revealing that approximately $1 million worth of cryptocurrency assets were illicitly withdrawn and converted into Ethereum.

Circle, the issuer of the USD Coin (USDC) stablecoin, has announced the operationalization of its Cross-Chain Transfer Protocol (CCTP) on Arbitrum, a Layer 2 scaling solution for the Ethereum network. This integration enables faster and more secure transfers of USDC across several blockchain networks, including Ethereum, Avalanche, and now Arbitrum.

More than $125 million worth of ARB tokens had been handed out to Arbitrum's ecosystem DAOs in April.

The Arbitrum (ARB) token has been on the rise lately, with a 20% price increase in the past seven days. The cryptocurrency is the native token of the Arbitrum network, which is a Layer-2 scaling solution for the Ethereum blockchain.

Weeks after launching USDC on Arbitrum, blockchain startup and stablecoin issuer, Circle has announced the launch of its Cross Chain Transfer Protocol (CCTP) on Arbitrum in a bid to help boost the easy movement of the stablecoin on the Ethereum Layer-2 scaling network. 1/ Moving $USDC natively to @Arbitrum just got that much easier.

Circle, the issuer of the blockchain ecosystem's second largest stablecoin USD Coin (USDC), has unveiled the launch of the Cross Chain Transfer Protocol (CCTP) on Arbitrum, a tool that facilitates the easy movement of the token to the Ethereum-based Layer 2 scaling network.

Circle's Cross-Chain Transfer Protocol is now operational on Arbitrum, a Layer 2 scaling solution for Ethereum.

The Chibi Finance team disappeared overnight in what seems like a rug pull, PeckShield noted.555 Ether (ETH) worth around $1 million was drained from the project's liquidity pools and deposited into the crypto mixer Tornado Cash.The team's social media accounts and websites also mysteriously vanished, leaving users with no access to the people behind the project. Crypto project Chibi Finance which runs atop the Ethereum Layer 2 scaling protocol Arbitrum allegedly rugged its users and disappeared with around $1 million in Ether (ETH).

The decentralized finance (DeFi) space has suffered yet another setback as Chibi Finance, an innovative project running on Arbitrum, has been accused of absconding with approximately $1 million in customer funds. This disconcerting incident is a stark reminder that extensive research and caution are vital in the DeFi domain.

According to a recent tweet issued by the @lookonchain "Smart Money" wallet tracker, earlier this week, two dormant whales became active again and started buying massive amounts of Arbitrum (ARB) tokens.

The recent accumulation of ARB by whales seemed like a planned action. But what has been ARB's output since then?

Chibi Finance is a relatively new DeFi project that operates on the Arbitrum's Layer 2 network. Recently, the project has been accused of a "rug pull" scam, which involves the withdrawal of user deposits.

Chibi Finance, a DeFi project on the Ethereum Layer 2 network, Arbitrum, allegedly executed a “rug pull”, absconding with about $1 million.

A series of decentralized finance and NFT-related altcoins have posted double-digit gains over the past week as capital begins to flow from larger assets like bitcoin (BTC) and ether (ETH) to more speculative bets like blur (BLUR) and arbitrum (ARB).

Arbitrum has attracted market attention today after two dormant whales re-emerged and scooped massive ARB tokens. Meanwhile, the well-time investments by waking investors and subsequent price upticks have raised insider knowledge concerns. The massive token buys indicate that the dip-pocketed investors had insider knowledge about Arbitrum's blockchain.

Here's a likely opportunity if ARB's short-term range formation extends and BTC remains bullish.

Bitcoin and Ether's recovery has improved traders' sentiment, which could trigger buying in ARB, VET, and STX.

Arbitrum [ARB] gained more than 5% since the rally, bringing relief from the gloom that had pervaded since the U.S. regulators' onslaught.

GMX's volume on Arbitrum has soared by 162.4% in the past month, signifying the increasing interest in decentralized exchanges.

Arbitrum, the leading Layer 2 scaling solution for Ethereum, has reaffirmed its dominance in the market with the launch of Arbitrum Orbit, an innovative tool aimed at empowering Layer 3 networks. Notably, rivals Polygon and BNBChain have also made strides by introducing zero-knowledge rollups.