This Week Noteworthy Events(March 11, 2024 - March 17, 2024)

Coinbase: SEC's Response to Its Rejection of Digital Asset Rule Petition Deemed Overly Brief, Next Key Date Set for March 11th

Coinbase's Chief Legal Officer, Paul Grewal, criticized the U.S. Securities and Exchange Commission (SEC) for what he deemed as an overly terse response to Coinbase's petition urging for clearer cryptocurrency regulatory guidelines. In a tweet, Grewal underscored deficiencies in SEC's related documents, which formed the basis for its denial of Coinbase's petitions regarding digital asset rules.

Grewal also outlined the timeline for upcoming legal proceedings, highlighting key dates: Coinbase's deadline for a brief statement is March 11, SEC's deadline for a brief statement is April 10, followed by Coinbase's reply deadline on May 1.

On-chain Gaming Marathon “Arbitrum Arcade” Kicks Off on March 11th

According to official sources, Arbitrum Arcade will launch via the Arbitrum Portal on March 11. Arbitrum Arcade is an 8-week on-chain game marathon featuring 24 Arbitrum games. Its aim is to showcase the most innovative gaming experiences in Web3 to the community, providing exposure and rewards to emerging content creators, and recording in-game achievements on-chain through EAS (Ethereum Authenticated Service)-based Clique.

Ethereum Foundation: Dencun Mainnet Upgrade Scheduled for March 13th at 13:55

The Ethereum Foundation has released an announcement regarding the Dencun mainnet upgrade, which is expected to be activated on the Ethereum mainnet on March 13, 2024, at 13:55 (UTC) at block height 269568. Node operators and stakers must upgrade their software to the versions listed in the announcement. It is reported that this upgrade introduces a temporary data blob with EIP-4844, also known as protodanksharding, which aims to reduce L2 transaction fees.

Binance to Suspend Deposits and Withdrawals for Ethereum and Its Network Tokens on March 13th to Support Network Upgrade and Hard Fork

According to an official announcement, Binance is expected to temporarily suspend token deposits and withdrawals for Ethereum (ETH), Arbitrum (ARB), Optimism (OP), zkSync Era, Base Protocol (BASE), Manta Network (MANTA), Starknet (STRK), and Polygon (MATIC) networks starting from March 13, 2024, at 21:25 (GMT+8). This suspension is to support the Ethereum network upgrade and hard fork and aims to provide users with a better experience.

The project team is scheduled to carry out the network upgrade and hard fork at epoch 269,568 (expected to occur at March 13, 2024, at 21:55 GMT+8).

FTX Digital to Host Creditor Meeting in the Bahamas on March 15th

FTX Digital will hold a creditors' meeting in the Bahamas on March 15 at 22:30. A liquidation committee will also be established during this meeting. The meeting will be chaired by the joint official liquidators to provide updates and guidance on the liquidation process, as well as to provide information to both customer and non-customer creditors of FTX Digital regarding the claims filing process.

ETHGlobal Releases 2024 Hackathon Schedule, ETHGlobal London to Commence on March 15th

ETHGlobal has officially announced its schedule for 2024, revealing plans to host 20 hackathon events. These events include LFGHO (January 12-24), Circuit Breaker (February 2-21), Pragma Denver (February 28), Pragma London (March 14), ETHGlobal London (March 15-17), Scaling Ethereum 2024 (April 5-26), Pragma Sydney (May 2), ETHGlobal Sydney (May 3-5), Pragma Brussels (July 11), ETHGlobal Brussels (July 12-14), ETHOnline 2024 (August 23-September 13), ETHGlobal Singapore (September 20-22), Pragma San Francisco (October 15-17), ETHGlobal San Francisco (October 18-20), ETHGlobal Devcon 2024 (tentatively scheduled for November), and five additional events.

On March 16th, 1.11 billion ARB tokens will unlock, valued at $2.15 billion, constituting 87.2% of the circulating supply

Token unlock data shows that Arbitrum will unlock 1.11 billion ARB tokens, worth $2.15 billion, accounting for 87.2% of the circulating supply, on March 16 at 13:00 (UTC).

Of this, team (including future team) and advisor shares will unlock 673 million ARB tokens, worth $1.3 billion, representing 52.82% of the circulating supply; investor shares will unlock 438 million ARB tokens, worth $845 million, accounting for 34.37% of the circulating supply.

According to CoinGecko data, the current circulating supply of Arbitrum (ARB) is 1.275 billion tokens, with a market capitalization of $2.51 billion.