It is also among the favorite altcoins of Turkish investors. Arbitrumcovered the headlines with many different news over the weekend. The most important subject of these news was the claim that the foundation had recently sold a significant amount of coins.
Cringe.eth, one of the prominent accounts on Twitter, stated that the Arbitrum Foundation issued 750 million ARBs worth approximately $ 1 billion on March 16, the launch date, and continues to send some of it to the Binance crypto exchange. stressed.
Eden Au, director of research at a Web3 firm, Arbitrum FoundationHe said that . However, about 70% of ARB owners voted against it. The researcher claimed that the proposal was just a formality while sharing blockchain data showing that 50.5 million ARBs were transferred from the foundation.
These events ARB pricenegative impact on the market, lowering it from 1.5 dollars to below 1 dollar. Additionally, the community accused the foundation of deliberately dumping the tokens on them just weeks after launch.
Arbitrum informed the community, commenting that “AIP-1’s goals are to engage the community about initial decisions and ultimately get token holders to signal their support. It also revealed that there were no 50 million ARB sales as indicated in its blockchain data.
6/ Regarding the on-chain transfers of 50M $ARB tokens, 40M $ARB tokens have been allocated as a loan to a sophisticated actor in the financial markets space. The remaining 10 million has been converted to fiat and dedicated towards operational costs.
NEWS CONTINUES BELOW— Arbitrum (💙,🧡) (@arbitrum) April 2, 2023
The foundation said that 40 million ARB tokens were allocated as loans to a sophisticated actor in the financial markets. At the same time, the remaining 10 million ARBs were converted to fiat to cover operational costs.
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