The Arbitrum DAO is voting to fund the legal defense costs of Tornado Cash’s developers. If approved, the community would donate up to ​​600,000 ARB tokens in the first year, worth nearly $1.3 million at the time of writing. A proposal submitted on March 7 by pseudonymous delegate DK seeks to fund a “robust legal defense” for…

Bitwise chief investment officer Matt Hougan warned investors to approach crypto projects with high valuations skeptically as the “wealth effect” is occurring in the crypto market. He indicated that traders are reallocating portions of their Bitcoin into other crypto investments, causing price increases across the market. In a recent series of posts on X, Hougan explained that Bitcoin’s…