Monat: März 2023

Claim Your 11% Airdrop Now! Arbitrum Launches ARB Token and DAO

• Arbitrum has launched its native governance token, ARB.
• Early users can check their eligibility for the airdrop.
• The Arbitrum Foundation is launching a decentralized autonomous organization (DAO) and airdropping a portion of ARB to its early users.

Arbitrum Launches Governance Token

Arbitrum has launched its native governance token, ARB. This means that Arbitrum is launching a decentralized autonomous organization (DAO) and airdropping a portion of ARB to its early users.

Eligibility for Airdrop

Early users can check their eligibility for the airdrop by meeting one or more of the following criteria before February 6, 2023: bridging funds into Arbitrum One; conducting transactions during distinct months; conducting more than four transactions and interacting with more than four different smart contracts; conducting transactions exceeding $10,000 or more in value; depositing more than $10,000 of liquidity into Arbitrum; bridging funds into Arbitrum Nova; and conducting more than three transactions in Arbitrum Nova. Users can check if they’re eligible for the airdrop here: https://arbitrum.foundation. Claiming starts on March 23.

ARB Token Distribution

The total amount of tokens allocated to users through an airdrop is 11.62%. In total, 1.162 billion ARB will be distributed via an air drop to user wallet addresses. Additionally, 44.47% of the total ten billion ARB will be allocated to Offchain Labs, the development team behind Arbitrum, as well as advisors and investors associated with the project..

ARB Token Value

The value of each ARB token has yet to be determined but they will not be used for fees on the platform itself.

Decentralizing Arbitum

In addition to the launch of the token itself, Arbitum also announced that it is taking steps towards decentralization by forming an official DAO structure for both its platforms – Arbritum One and Arbritum Nova – where governance decisions will be made democratically utilizing these newly minted tokens as votes on various matters within these networks

US Gov’t Moves $1B of Seized BTC, Market Fears a BTC Dump

• The U.S. government has moved around $1 billion in BTC to Coinbase, sparking speculation of a possible dump.
• Cryptobank Silvergate is on the brink of bankruptcy and the U.S. Federal Reserve is becoming more hawkish with anticipations for larger rate increases.
• If the BTC dump were to happen, it could possibly retest its $20,000 resistance zone.

U.S Government Moves $1B in Seized BTC

The U.S government recently moved around 40,000 seized Bitcoin (BTC), which is valued at approximately $1 billion, to Coinbase from wallets associated with law enforcement seizures according to blockchain intelligence and data platform Glassnode. Of these funds, 9,861 BTC were seized from the Silk Road hacker raising speculations that a BTC dump might be incoming soon as market participants are already trading down 1.4% on the day due to this news.

Cryptobank Silvergate Bankruptcy & U.S Federal Reserve Rate Increases

The crypto markets have had an optimistic start to the year with most coins and tokens going up significantly since January but have become increasingly challenging in recent weeks as Cryptobank Silvergate teeters on the brink of bankruptcy and as the U.S Federal Reserve turns hawkish anticipating larger rate increases with a current Federal Funds Rate at 4.57%.

BTC Resistance Zone Retest?

The possibility of a dump has left many worrying about whether BTC will once again experience retesting its $20,000 resistance zone if such a dump were to occur especially with Fed Chairman Jerome Powell testifying Tuesday that further rate increases may help curb inflation leading some futures predicting a 53% chance of a 50 bps rate hike by March end resulting in rates potentially reaching 6%.

Crypto Markets Impacted By News

The news of Silvergate’s financial troubles last week sent shockwaves through out crypto markets wiping out billions within minutes causing Bitcoin (BTC) alone to drop 5% while other altcoins followed suit experiencing dumps as well due to this news adding onto investors worries even further despite the optimistic start this year had brought them so far regarding their digital assets investments..

Conclusion

Given all these economic factors playing into effect it will be interesting to watch how cryptocurrencies react in terms of prices over the coming days and weeks given that they have been an unpredictable asset class thus making it difficult for market participants and investors alike when trying to predict price movements based off current news events circulating throughout media outlets today

SEC Cracks Down On Crypto: Robinhood Receives Subpoena After FTX Collapse

• Robinhood, a securities brokerage firm with crypto services, has received a subpoena from the SEC and California Attorney General’s Office.
• The SEC is looking into its cryptocurrency listings, custody of cryptocurrencies and platform operations.
• This is part of the wider regulatory crackdown on crypto in the U.S., which has also impacted Kraken, Binance, and Paxos.

Robinhood Receives Subpoena from SEC

Robinhood, a securities brokerage firm that also offers cryptocurrency services, has revealed that it’s been affected by the collapse of FTX late last year. The company disclosed in a 10-K filing that it received a subpoena from the U.S. Securities and Exchange Commission (SEC) last December relating to its „cryptocurrency listings, custody of cryptocurrencies and platform operations.“

California Attorney General Involved

Robinhood also said it received a subpoena from the California Attorney General’s Office seeking information about its trading platform, business and operations, custody of customer assets, customer disclosures, and coin listings. Robinhood currently lists 18 cryptocurrencies, including bitcoin (BTC), ether (ETH), and dogecoin (DOGE). The company said that if the SEC deems some of these as securities they might be forced to delist them.

Wider Regulatory Crackdown

The attention Robinhood is getting from the SEC and other institutions seems to be part of a wider regulatory crackdown on crypto in the U.S. Multiple other crypto-related companies have recently been impacted by decisions made by the SEC including Kraken, Binance, and Paxos.

Kraken Fined $30 Million

For example, a few weeks ago, the SEC forced Kraken to pay a $30 million fine and shut down its staking services because it sold unregistered securities. On top of that ,the SEC has also sued Paxos for issuing an unregistered security – BUSD – which is backed by Binance.

Conclusion

Overall this article highlights how Robinhood has been targeted as part of a wider crackdown on crypto businesses in America by both State authorities like California AGs office as well as Federal ones such as US SEC forcing fines or closures if found guilty selling unregistered securities .