#community

Shibarium, the Layer 2 blockchain by Shiba Inu's creators, is back in action. After a temporary shutdown due to scalability issues, the team has reopened withdrawals on its bridge to Ethereum. The pause initially locked millions in user funds and caused community unrest. Now, the mainnet and bridge are fully functional, allowing withdrawals of various assets like SHIB, LEASH, and WETH within 45 minutes to 3 hours. BONE token withdrawals are also back but may take up to 7 days.

Currently, Mantle DAO is evaluating a proposal that would prohibit the conversion of BIT tokens held by FTX Group into the new MNT token. Previously, Alameda Research, a branch of the FTX Group, swapped 3.4 million FTT tokens for a staggering 100 million BIT tokens, which equated to around $43 million. Yet FTX's descent into bankruptcy prompted DAO members to introduce this proposal. MNT is a token that was launched as Mantle's L2 mainnet went live. The blockchain was established by the Bybit exchange, which initiated the merge of BIT (BitDAO) and MNT tokens. Controversies aside, there's robust support for this proposal within the Mantle enclave, spotlighting the overarching investor community's interests.

This initiative aimed at countering anti-crypto legislation by mobilizing the community. Coinbase’s long-term plan is focused on cultivating a grassroots movement and building an engaged community that advocates for positive legal changes and crypto-friendly regulations. This initiative marks the nation’s first ever independent on-chain advocacy organization, driven by and for crypto enthusiasts. As of now, the initiative boasts 54 161 supporters on its webpage.

After nd4.eth's dramatic incineration of 2500 ETH valued in the millions 15 days prior, the anonymous figure continues to confound the crypto community. This unidentified actor has recently transferred 3 NFTs from top-tier collections BAYC, MAYC, and BAKC to a burn address, with an aggregate value exceeding $88,000. A deliberate obliteration of digital wealth rages on!

Australian actress Margot Robbie, recognized for her performance in the film "Barbie," shared an incident where she overheard a Bitcoin discussion between her husband and a television producer on set. She likened the Bitcoin's vibe to that of Ken, a fictitious character from the movie, stirring quite a buzz in the crypto community. Notable figures such as Michael Saylor and Layah Heilpern weighed in on the comparison. The "Boy" Saylor claimed that “Bitcoin is Big Ken Energy.” Conversely, "girl" Heilpern reminded everyone that Barbie, in fact, didn't have a fondness for Ken: "When Margot Robbie said you’re a Ken if talk bitcoin. She meant you’re weak and pathetic. This was not a good thing," remarked Heilpern. Subsequently, even psychologist Mark Travers chimed in on the discussion, defining Ken's energy as an ability to display altruism and adapt to varying situations. And what do you think, crypto-folks?

A federal judge overseeing the criminal case against Sam Bankman-Fried is set to review the possibility of revoking the former FTX CEO’s $250 million bail following allegations of intimidation against Caroline Ellison. Additionally, federal prosecutors in New York have requested that Sam Bankman-Fried be jailed before his scheduled October trial. At a hearing in Manhattan federal court, prosecutor Danielle Sassoon argued that “no set of release conditions can ensure the safety of the community.”

Former Vice President of Tinder Jeff Morris believes that cryptocurrency developers' desire for 1 billion users is misguided, as a passionate and small community can be more valuable. Morris also believes that cryptocurrency apps should be made more accessible to regular users to lower the threshold of entry into the industry and create an enjoyable user experience.

Narendra Modi speaks in favor of an integrated approach to new technologies. As tech progress accelerates, he advises the global community to establish wide-reaching rules and a collective strategy. "At the same time, the rules, regulations, and framework around it should not belong to one country or a group of countries. So not only crypto, but all emerging technologies need a global framework and regulations," highlighted India's Premier.

The community of Terra Luna Classic has dismissed the USTC Repeg team's request for funding. Voting outcomes showed 45% in support, 43% objecting with veto power, and 11% rejected it outright. Even though 11 of the 17 validators were in support, the proposal failed to gain traction with the general public. The request was for 285 million LUNC ($20,000) to refine an instrument for the USTC Incremental Repeg Buybacks & Staking Swaps algorithm.

Grayscale Investments is gearing up for a potential positive outcome in its lawsuit with the SEC, as it begins hiring for its ETF team. The firm is on the lookout for a "Senior Associate, ETFs" to bolster its ETF business development. This move comes as the crypto community eagerly awaits a court decision on Grayscale's proposal to convert its GBTC fund into a spot bitcoin ETF. The outcome could set a precedent for other asset managers seeking approvals for spot bitcoin funds, influencing the future of crypto ETFs.

Under the new regulations, stablecoin transfers will require up to three business days. This rule has caused bewilderment within the blockchain community. However, officials state that this restriction is consistent with the pace of standard domestic money transfers and will also apply to stablecoin redemptions. "The redemption timeline is intended to strike a balance between responsiveness to users’ requests and ensuring there is enough time for the SCS issuer to do so in an orderly manner under various stress situations," added the regulator.

The Snapshot platform has recently showcased a proposal: allocate 1 million FRAX tokens from the treasury and use them to buy CRV tokens. This, according to the initiative's creator, will fortify the community's foothold in DeFi for years to come and enhance liquidity for pairs involving FRAX.

As Elon Musk occupies himself with the Twitter rebrand, the crypto community is enthusiastically trading tokens that bear association with the well-known platform only through its former name. The TwitterDAO (TWITTER) token is presently priced at $0.0001, despite a rocky start.This rise is attributed to the automatic system's verification and contract audit. Yet, it's vital to bear in mind that such tokens often morph into money-making tools for fraudsters, leading to a total wipeout of the assets belonging to external investors. The recent situation with BALD serves as a stark reminder of this risk.

The founder and CEO of ENF, Yves La Rose, officially announced this on Twitter. He claims that the company allegedly failed to fulfill its investment commitments totaling $1 billion. According to Yves La Rose, this has caused significant financial and marketing issues for the EOS community, and he holds Block.one responsible as the original creator of the project.

Optimism announced Law of Chains v0: a foundation for the future of Superchain. Law of Chains v0 will change Optimism Governance to govern standards for multiple chains, defining the necessary conditions for integration into Superchain and prioritizing user security. According to the developers, this will: 1. Preserve a unified, neutral, and open blockchain space. 2. Conduct blockchain modernization. 3. Ensure infrastructure availability. Optimism aims to officially unveil this project and the first version of the new chain governance process after discussions with the community in the next governance season.