DeFi
The Arbitrum DAO has deleted a proposal on the protocol’s governance forum to fund Tornado Cash developers’ legal defense with nearly $1.3 million in ARB tokens.
Bitcoin
BlackRock’s spot bitcoin ETF has acquired a total of 195,985 bitcoin in the two months since its launch, surpassing MicroStrategy’s holdings of the digital asset, which the company has been acquiring since August 2020.
After the approval of spot Bitcoin ETFs, many crypto watchers expected spot ether ETFs to be approved at the time of a May deadline. But the current outlook is cloudier, leading to speculation about why the SEC might deny.
Users paid roughly $1.1 million on March 7 in gas fees to transact on the Solana blockchain, with a large part of those fees stemming from memecoin trading on decentralized exchanges.
Ethereum
Ethereum’s Dencun upgrade is scheduled for next week and is set to reduce fees on layer 2s by at least 10 times, if not more.
A DAO contributor proposes to provide “robust legal defense” for Storm and Pertsev as well as “to uphold the rights of developers to contribute to their deployment of permissionless open-source software.”
The launch of spot bitcoin ETFs is an inflection point and crypto has caught some of the afterglow. But investors must watch regulators as well as market indicators.
Business
Prosecutors in the US will continue to seek former Terraform Labs CEO Do Kwon’s extradition despite Montenegro’s High Court ruling to extradite him to South Korea.
An email from DCG CEO Barry Silbert in 2022 reveals details of a lunch between himself and Gemini’s Cameron Winklevoss, where the two discussed joining forces to become a “juggernaut” that would compete with Coinbase and FTX.
The announcement, which boosted the Kamino’s total locked value by over $100 million in the past day, has had mixed reactions, with many criticizing key elements of the plan.
