Arbitrum

The Arbitrum community withdrew a proposal to financially support the legal defense of Tornado Cash developers, the team behind an Ethereum-based mixing platform.<h2 id="header-0">Cryptos Headlines Token Airdrop Is Live, Claim Instant 5000 CHT Tokens Worth Of $50 Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a></h2><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Binance-labs.png?fit&#61;850%2C480&amp;ssl&#61;1" />Devansh Mehta, leading the Arbitrum treasury working group, disagreed with the decision, arguing that there’s nothing wrong with funding the legal defense of someone accused.<h3 id="strong-arbitrum-dao-proposal-to-aid-tornado-cash-developers-withdrawn-strong">Arbitrum DAO Proposal to Aid Tornado Cash Developers Withdrawn</h3>A proposal initiated on the Arbitrum DAO forums to assist the developers of Tornado Cash, a token mixing protocol, with their legal defense has been withdrawn due to legal concerns. Devansh Mehta, the lead of the working group of the Arbitrum treasury, revealed this news on social media, expressing disappointment that the entire forum thread, along with the snapshot, was deleted without any discussion or record.The proposal aimed to allocate between 200,000 and 600,000 ARB (equivalent to $400k to $1.2 million) to support Roman Storm and Alexey Pertsev, the developers of Tornado Cash, who faced charges of money laundering and sanctions violations in August. Prior to its deletion, the proposal had garnered overwhelming support for allocating 600K ARB, with over 80% of the votes registered in favor of this option.<h3 id="reactions-to-withdrawal-of-arbitrum-dao-proposal">Reactions to Withdrawal of Arbitrum DAO Proposal</h3>Disappointment Over Proposal Withdrawal: Devansh Mehta expressed disappointment when the proposal to fund the Tornado Cash developers’ legal defense was withdrawn. He stressed the importance of supporting their defense and highlighted the right to legal representation for everyone. Mehta also raised concerns about self-censorship within the Arbitrum community, suggesting it goes against the platform’s values of freedom.<a href="https://cryptosheadlines.com/elon-musks-tesla-spacex-holds-1-3b-btc/" rel="noopener noreferrer nofollow">Also Read: Elon Musk&#39;s Tesla &amp; SpaceX Holds $1.3B BTC</a>Explanation from “Immutable Lawyer”: Joseph Axisa, known as the “Immutable Lawyer,” responded to social media criticism about withdrawing the proposal. He explained that he authored and removed the proposal to allow for further discussions with delegates and the developers’ lawyers about the best way to contribute. Axisa emphasized the need for thorough consideration to ensure all parties involved are treated fairly.Future Plans: Axisa assured that the proposal would be reviewed and republished after careful consideration and additional due diligence. He reaffirmed the commitment to protecting the interests of everyone involved in the decision-making process.Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.i

Arbitrum Withdraws Funding Proposal for Tornado Cash Developers’ Defense

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