TheLawyer.klima - 0xLegal.eth

Audio of the Indian oil tanker Sanmar Herald pleading with Iranian forces to stop shooting at it in the Strait of Hormuz this morning.

The Arbitrum Security Council has taken emergency action to freeze the 30,766 ETH being held in the address on Arbitrum One that is connected to the KelpDAO exploit. The Security Council acted with input from law enforcement as to the exploiter’s identity, and, at all times, weighed its commitment to the security and integrity of the Arbitrum community without impacting any Arbitrum users or applications. After significant technical diligence and deliberation, the Security Council identified and executed a technical approach to move funds to safety without affecting any other chain state or Arbitrum users. As of April 20 11:26pm ET the funds have been successfully transferred to an intermediary frozen wallet. They are no longer accessible to the address that originally held the funds, and can only be moved by further action by Arbitrum governance, which will be coordinated with relevant parties.

🇪🇺 Europe's streets are dealing with an energy crisis, a war next door, and rising public anger over unchecked migration. The EU's response? A new anti-racism strategy focused on "diverse and inclusive neighbourhoods." The highlights: The entire purpose of the EU, according to this document, is to create "a society free from racism." Not energy security. Not defense. Not economic stability. Racism. They want anti-racism taught in every school across the continent, embedded into AI regulation, and made a core pillar of EU foreign policy. NGOs will be funded to implement it... because we all know how well those work. Starting in 2028, member states deemed insufficiently committed can be locked out of EU funding entirely. And the GDP argument is in there too. Racism is bad because it hurts shareholder value and makes it harder for corporations to access cheap foreign labor. They actually wrote that down. European voters have been screaming about cost of living, immigration policy, and energy prices for three years straight. Brussels heard all of that and decided what the continent really needs is a publicly funded neighborhood diversity program. The gap between what EU citizens are asking for and what Brussels is delivering has never been wider.

Claude for Word is now in beta. Draft, edit, and revise documents directly from the sidebar. Claude preserves your formatting, and edits appear as tracked changes. Available on Team and Enterprise plans.

Both Citadel and JPM noting a change in the behavior of Retail over the past month... "Today’s relief rally brings confirmation that the shift in retail behavior that we have observed over the past month is persisting: retail moved from ‘buying the dip’ (e.g. this time last year), to now skipping the dips, selling into rallies, and positioning more defensively, report. Overall, retail activity remained extremely subdued this week, driven by net selling in single stocks and weak ETF purchases. Even more so today, despite oil posting its largest decline since 2020 and VIX breaking below 20, intraday retail flows showed no signs of strengthening." (JPM) "The most notable change has been a decisive rotation into puts. Over the past two weeks, total retail put activity has surged to the 99th percentile relative to all other 10-day trading periods since the start of 2020. Call activity has simultaneously fallen into the 70th percentile (in just the 13th percentile versus the past 1 year). This divergence culminated in a rare inflection point on April 2nd, when more puts than calls were traded by retail at Citadel Securities – only the sixth such occurrence in the history of our platform." (Citadel)

JUST IN: 🇮🇷 Iran to require ships passing through the Strait of Hormuz to pay tolls in Bitcoin, FT reports.

Iran is demanding that oil tankers passing through the Strait of Hormuz make toll payments in the form of cryptocurrency, including Bitcoin and stablecoins such as Tether’s USDT or the Trump family’s USD1. Vessels have been told to email Iranian authorities prior to passage through the area with details regarding their cargo, which authorities will then respond with a quote for passage through the toll to be paid in digital currency, reportedly set at $1 per barrel of oil, according to the Financial Times.