Binance asks ArbitrumDAO to unfreeze and return frozen ETH and ARB (governance and recovery)
Event: Binance submitted a proposal to the Arbitrum governance forum, requesting that 8,425.997 ETH and 74,559,805 ARB frozen on Arbitrum One be returned to a recovery address designated by Binance to compensate users affected by the attack on Binance hot wallets. The proposal is at the forum discussion stage and will require a subsequent Snapshot vote and on-chain governance, with the process expected to take about 49 days. It does not involve any new DAO expenditure.
Impact dimension: Governance recovery (not delisting).
Resistance and support levels: ARB resistance at 0.52 (previous high zone) and 0.55; support at 0.46 and 0.42.
Future trend: If the proposal passes, it would be a rare industry case of “assets recovered through governance after a hacking incident,” boosting ARB’s governance credibility. However, the process is lengthy, and the short-term price will follow the broader market.
Token introduction: $ARB is Arbitrum’s governance token. Arbitrum is a leading Ethereum Rollup L2.
Event: Binance submitted a proposal to the Arbitrum governance forum, requesting that 8,425.997 ETH and 74,559,805 ARB frozen on Arbitrum One be returned to a recovery address designated by Binance to compensate users affected by the attack on Binance hot wallets. The proposal is at the forum discussion stage and will require a subsequent Snapshot vote and on-chain governance, with the process expected to take about 49 days. It does not involve any new DAO expenditure.
Impact dimension: Governance recovery (not delisting).
Resistance and support levels: ARB resistance at 0.52 (previous high zone) and 0.55; support at 0.46 and 0.42.
Future trend: If the proposal passes, it would be a rare industry case of “assets recovered through governance after a hacking incident,” boosting ARB’s governance credibility. However, the process is lengthy, and the short-term price will follow the broader market.
Token introduction: $ARB is Arbitrum’s governance token. Arbitrum is a leading Ethereum Rollup L2.