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Binance asks ArbitrumDAO to release frozen ETH and ARB to cover customer losses

Binance asks ArbitrumDAO to release frozen ETH and ARB to cover customer losses
AI summary

Binance has submitted a draft proposal to ArbitrumDAO requesting the release of frozen ETH and ARB tokens. The recovered assets would be used to replenish reserves that covered customer losses. Binance expects the governance process to take seven weeks or longer, so any resolution will be slow-moving and dependent on DAO approval.

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