ArbitrumDAO’s Support Proposal Withdrawn Amid Legal Concerns
An initiative within the ArbitrumDAO, intending to offer financial aid to Tornado Cash developers Roman Storm and Alexey Pertsev in their legal battle, has been withdrawn by its proponent.
This move came after concerns were raised by token holders regarding potential legal ramifications, sources familiar with the situation disclosed.
The proposal, put forth by Arbitrum contributor Joseph Axisa, detailed a plan to allocate funds ranging from 200,000 to 600,000 ARB (approximately $400,000 to $1.2 million) to assist Storm and Pertsev in their legal defense. The developers face charges linked to their involvement in creating software for Tornado Cash, a decentralized protocol on Ethereum aimed at enhancing privacy in crypto transactions, as reported by Unchained.
However, the proposal vanished from Arbitrum’s discourse forum as of March 8, having been removed at the behest of its originator, confirmed by an Arbitrum representative. The proposal suggested directing the funds to WeWantJusticeDAO’s crowdfunding campaign, which backs Storm and Pertsev’s legal expenses estimated at around $100,000 monthly.
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Despite the removal of the initial proposal, members of ArbitrumDAO are exploring alternative avenues to financially support the developers’ legal defense efforts, such as directing funds to Coin Center, a non-profit organization focused on crypto policy. A revised version of the proposal is expected to emerge on ArbitrumDAO’s forum in the coming week.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
