Journalistic Rewrite: Tornado Cash Loses $1.2 Million in Funding from Arbitrum DAO Due to Legal Concerns

Quick Summary:

The author of an ArbitrumDAO proposal, aiming to contribute up to $1.28 million in cryptocurrency towards supporting Tornado Cash developers Roman Storm and Alexey Pertsev’s legal defense against criminal charges, has retracted the proposal.

An Arbitrum representative also confirmed to The Block the removal of the proposal at the author’s request.

DeFi represents a broad segment of the cryptocurrency industry, characterized by its commitment to principles of financial autonomy and innovation, which align closely with the ethos associated with Tornado Cash and its creators.

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Article Details

Author / Journalist: Bhushan Akolkar

Category: Crypto

Markets: IndiaOman

Topics: Tornado cash Altcoin News Tornado Cash developer arrested 24/7 Cryptocurrency News Arbitrum

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-03-11 @ 14:53:54 (1 months ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 448 words

Reading Time: 3 minutes read

Sentences: 37 lines

Sentence Length: 13 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 20393763

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About CoinGape

Main Topics: Crypto

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