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Home > News
Published: 21/03/2024
-
Author: Leexim
Arbitrum Community Proposes Takeover of r/Cryptocurrency Subreddit
An Arbitrum token holder reveals an ambitious grant proposal aiming to acquire control of the prestigious r/Cryptocurrency subreddit, with an estimated cost to the community of nearly $788,000.
Azcnews (4)
A member of the Arbitrum community, by the name of MeLLoN98, began offering to sponsor the existence of the r/Cryptocurrency subreddit and even buy back MOON, the subreddit’s native token, which Reddit deployed on Arbitrum Nova in 2022. In a forum post, MeLLoN98 presented a plan that includes advertising on the subreddit, with an emphasis on the development of r/Cryptocurrency as “the largest cryptocurrency community since year 2013”. He explained that the proposal aims to maintain Arbitrum’s status through subreddit sponsorship and Arbitrum’s community outreach, including advertising, discussion, and facilitated governance.
Key elements of the proposal include the display of the Arbitrum logo on r/Cryptocurrency’s banner and the automatic posting of sponsored posts introducing and explaining Arbitrum over a six-hour period on the subreddit. In addition, the proposal also mentions the purchase of a large amount of MOON, a total of 2 million tokens, for distribution to the Arbitration Treasury, to ensure safety in the event of an emergency or when governance difficulties arise may affect Arbitrum.
Arbitrum
Arbitrum
According to MeLLoN98, the planned implementation period from June to December 2024 is said to be consistent with the bullish cycle in the cryptocurrency market. He emphasized that maintaining the support of the r/Cryptocurrency community is important to Arbitrum, especially with the influx of new investors to the subreddit who come to learn and take action their progress in the field of cryptocurrency.
However, for this proposal to be approved, community consensus is needed and details about the voting time have not yet been clarified.
Related: Arbitrum Shows Signs of Recovery Amid Whale Movement
In December 2023, Reddit decided to relinquish control of the Moons token on the Arbitrum Nova network of the r/Cryptocurrency subreddit. According to crypto.news, Reddit has decided to stop working on the Moons project launched in 2020, citing complex legal issues and difficulties in expansion, as the main reasons for this decision.
Initially, the Community Points program was implemented on the Ethereum (ETH) blockchain. However, to reduce transaction costs and address scalability issues, it switched to a layer 2 network called Arbitrum Nova in August 2022.
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Home > News
Published: 21/03/2024
-
Author: Leexim
Ethereum Fund Under Government and SEC Scrutiny
According to reports, the Ethereum Foundation is currently under scrutiny by both the government and the SEC. The SEC is reportedly planning to classify Ethereum as a security.
Azcnews (3)
According to reports, the GitHub repository of the Ethereum Foundation is currently under investigation by an undisclosed government entity. This probe into the Swiss non-profit organization comes on the heels of Dencun, the largest Ethereum upgrade since the network transitioned to proof of stake (PoS), which was unveiled on March 13, 2024.
Several unspecified elements remain at this juncture concerning certain reports related to the Ethereum Foundation. GitHub’s commitment statement on February 26, 2024, explicitly stated: “We have received a voluntary investigation from a government agency, wherein security clearance is a mandatory requirement.”
The footer commitment by GitHub dated February 26 has been removed, along with the Ethereum Foundation’s assurance, in which the organization denied any engagement with “any agency in the world about undisclosed contacts.”
Ethereum Github
Ethereum Github
Moreover, the Securities and Exchange Commission (SEC) is believed to be actively pursuing legal measures to classify Ethereum, the second-largest prominent cryptocurrency, as a security.
According to U.S. companies served with subpoenas, the SEC’s investigative request requires companies to provide documents and financial records pertinent to their commitments with the Ethereum Foundation.
Related: Ethereum Faces $4.2 Million in Liquidations
The disclosure of subpoenas comes at a pivotal time for the cryptocurrency community as the deadline for Ethereum ETFs approaches. Renowned ETF analyst James Seyffart believes the SEC will ultimately reject applications before May 23.
According to a lawyer familiar with the matter, it is possible that the Swiss regulatory body has issued document requests to the Ethereum Foundation and may be cooperating with the U.S. Securities and Exchange Commission (SEC).
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Azcnews (4)
News | Altcoin | Editor Choice 21/03/2024
Arbitrum Community Proposes Takeover of r/Cryptocurrency Subreddit
An Arbitrum token holder reveals an ambitious grant proposal aiming to acquire control of the prestigious r/Cryptocurrency subreddit, with an estimated cost to the community of nearly $788,000.
Xrp Up
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Bitcoin Spot ETFs Witness Third Consecutive Day of Outflows
In merely three trading sessions, United States-listed spot Bitcoin ETFs have witnessed an outflow totaling approximately $742 million.
Azcnews (1)
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A renowned analyst has upheld XRP's $27 price target, citing technical similarities to its 2017 rally.
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The Memecoin Fever Spreads to Layer-2 Base
After Solana, Layer-2 Base continued to receive attention as users rushed to "hunt" for memecoins, gas fees on layer-2 Base sometimes reached up to 5 USD per transaction.
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Do Kwon's Lawyer Says Extradition Ruling Cannot Be Appealed, Confirming He Will Be Extradited to South Korea
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AVAX Coin AVAX
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BTC Coin BTC
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ETH Coin ETH
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USDT Coin USDT
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SOL Coin SOL
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DOGE Coin DOGE
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3.01%
Search...
Home > News
Published: 21/03/2024
-
Author: Leexim
Arbitrum Community Proposes Takeover of r/Cryptocurrency Subreddit
An Arbitrum token holder reveals an ambitious grant proposal aiming to acquire control of the prestigious r/Cryptocurrency subreddit, with an estimated cost to the community of nearly $788,000.
Azcnews (4)
A member of the Arbitrum community, by the name of MeLLoN98, began offering to sponsor the existence of the r/Cryptocurrency subreddit and even buy back MOON, the subreddit’s native token, which Reddit deployed on Arbitrum Nova in 2022. In a forum post, MeLLoN98 presented a plan that includes advertising on the subreddit, with an emphasis on the development of r/Cryptocurrency as “the largest cryptocurrency community since year 2013”. He explained that the proposal aims to maintain Arbitrum’s status through subreddit sponsorship and Arbitrum’s community outreach, including advertising, discussion, and facilitated governance.
Key elements of the proposal include the display of the Arbitrum logo on r/Cryptocurrency’s banner and the automatic posting of sponsored posts introducing and explaining Arbitrum over a six-hour period on the subreddit. In addition, the proposal also mentions the purchase of a large amount of MOON, a total of 2 million tokens, for distribution to the Arbitration Treasury, to ensure safety in the event of an emergency or when governance difficulties arise may affect Arbitrum.
Arbitrum
Arbitrum
According to MeLLoN98, the planned implementation period from June to December 2024 is said to be consistent with the bullish cycle in the cryptocurrency market. He emphasized that maintaining the support of the r/Cryptocurrency community is important to Arbitrum, especially with the influx of new investors to the subreddit who come to learn and take action their progress in the field of cryptocurrency.
However, for this proposal to be approved, community consensus is needed and details about the voting time have not yet been clarified.
Related: Arbitrum Shows Signs of Recovery Amid Whale Movement
In December 2023, Reddit decided to relinquish control of the Moons token on the Arbitrum Nova network of the r/Cryptocurrency subreddit. According to crypto.news, Reddit has decided to stop working on the Moons project launched in 2020, citing complex legal issues and difficulties in expansion, as the main reasons for this decision.
Initially, the Community Points program was implemented on the Ethereum (ETH) blockchain. However, to reduce transaction costs and address scalability issues, it switched to a layer 2 network called Arbitrum Nova in August 2022.
Read More
0.0/5
Love
Leave a Reply
Your email address will not be published. Required fields are marked *
Comment *
Twitter
Telegram
Name
Save my name, email, and website in this browser for the next time I comment.
LATEST
Azcnews (3)
News | Altcoin | Editor Choice 21/03/2024
Ethereum Fund Under Government and SEC Scrutiny
According to reports, the Ethereum Foundation is currently under scrutiny by both the government and the SEC. The SEC is reportedly planning to classify Ethereum as a security.
Xrp Up
News | Bitcoin | Editor Choice 21/03/2024
Bitcoin Spot ETFs Witness Third Consecutive Day of Outflows
In merely three trading sessions, United States-listed spot Bitcoin ETFs have witnessed an outflow totaling approximately $742 million.
Azcnews (1)
News | Altcoin | Editor Choice 21/03/2024
XRP Analyst Maintains $27 Price Target
A renowned analyst has upheld XRP's $27 price target, citing technical similarities to its 2017 rally.
Azcnews Breaking
News | Altcoin | Editor Choice 21/03/2024
The Memecoin Fever Spreads to Layer-2 Base
After Solana, Layer-2 Base continued to receive attention as users rushed to "hunt" for memecoins, gas fees on layer-2 Base sometimes reached up to 5 USD per transaction.
Azcnews Breaking
News | Editor Choice | Policy & Regulations 21/03/2024
Appeal Fails: Do Kwon to Be Extradited to South Korea
Do Kwon's Lawyer Says Extradition Ruling Cannot Be Appealed, Confirming He Will Be Extradited to South Korea
Top views
1
Binance Announces Removal Of BNB & TUSD Spot Trading Pairs
2
Ether.fi (ETHFI) Announces Token Airdrop
3
Bitcoin Reaches All-Time High at $71,000
4
Short-Term Bitcoin Investors Have Reaped Profits
5
Playing the Game to Receive Telegram’s Notcoin Airdrop
6
Complete KYC & Receive up to 1,000 USDT on BingX
7
Pepe The Frog Creator Drops A New NFT Collection
8
What is etherFi? An Overview of the etherFi Project
9
What is Metis? Information about METIS Token?
10
Bitcoin ETF Registers Weekly Inflow of $2.5 Billion
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Copyright 2024 © AZ Coiner
Contact Us
Privacy Policy
Terms of Services
Market
Analytics
Top Crypto Exchange
Top Cryptocurrency
Knowledge
Research
Glossary
Earn
Airdrop
Social Community
