Arbitrum DAO Votes on Release of $70M in Frozen ETH

Arbitrum's decentralized autonomous organization (DAO) is currently voting on a proposal to release 30,766 ETH (approximately $70 million) that was previously frozen due to the KelpDAO hack. The funds were secured by the Security Council and are now awaiting community approval to be redeployed.

The vote remains open until May 7, and if approved, the released ETH will be sent to DeFi United, a joint recovery initiative working to restore rsETH backing. This contribution would make Arbitrum one of the largest contributors to the recovery effort.