Web3🌑Friday Highlights: IMF's Crypto Tax Proposal, Trump's ETH & NFT Earnings, TONUSD Surge, and Arbitrum DAO's ARB Staking Update

Happy Friday, Web3 enthusiasts! As we wrap up the week, let’s dive into today’s top highlights in the world of decentralized tech and finance. From significant regulatory proposals to high-profile crypto investments, and exciting updates from the Arbitrum DAO, there’s plenty to explore. We’ll cover the IMF’s call for increased electricity taxes, Donald Trump’s substantial Ether holdings and NFT royalties, the recent surge in TONUSD, and Arbitrum DAO’s latest move to enhance ARB token utility. Stay tuned as we unpack these developments and what they mean for the future of Web3.

1. IMF Proposes Higher Electricity Taxes for Crypto Miners & AI Data Centers

The IMF proposes increasing electricity taxes for crypto miners by up to 85% to reduce global emissions and boost government revenue. This hike could cut emissions by 100 million tons annually and generate $5.2 billion globally. Despite Bitcoin's halving event putting pressure on miners, this tax aims to curb the environmental impact, which now represents 2% of global electricity consumption and nearly 1% of carbon emissions. A similar tax on AI data centers could raise up to $18 billion annually. The IMF stresses the need for a coordinated global approach to prevent miners from relocating to avoid the tax.

IMF Calls for Increased Electricity Taxes on Crypto Miners, AI Data Centers - Decrypt

The IMF said a hike to electricity taxes for crypto miners could curb global emissions while netting governments billions in revenue.

DecryptSebastian Sinclair

2. Donald Trump Holds Over $1M in Ether and Earns NFT Licensing Fees

Donald Trump holds between $1 million and $5 million in Ether (ETH) and has earned $7.15 million from NFT licensing fees, according to recent disclosures. Arkham Intelligence estimates his Ether holdings at $3.6 million. Melania Trump also earned $330,609 from NFT sales. Trump’s digital trading cards have seen over 15,808 ETH in trading volume since their launch. Despite earlier crypto endorsements, Trump hasn’t mentioned his crypto assets in recent interviews. The Trump Organization is set to unveil a new cryptocurrency initiative.

Donald Trump Holds Over $1M in Ether, Also Receives NFT Licensing Fees

Filings show he has over $1 million in Ether.

CoinDeskSam Reynolds

3. TONUSD Rises with Pyth & Injective Integration—Great Buy on Dips

The Open Network (TON) has partnered with the Pyth network to provide high-fidelity data, enhancing Web3 development. Injective is now integrated with TON, enabling asset bridging and utilization within TON dApps. TONUSD experienced a slight pullback after reaching a multi-week high but remains above short-term moving averages. The pair is trading around $6.50, with resistance at $7.25 and potential for gains up to $10. A close below $4.50 could signal bearish trends. Buying on dips around $6, with a stop-loss at $5 and a target price of $10, is advised.

TONUSD gains after integration with Pyth and Injective network, good to buy on dips - TokenPost

The Open Network (TON) is a decentralized and open Internet platform made up of several components. These include TON Blockchain, TON DNS, TON Storage, and TON Sites. The Open Network (TON), a decentralized…

TokenPost

4. Arbitrum DAO Greenlights ARB Staking Proposal

The Arbitrum DAO has approved a proposal to enhance the ARB token’s utility and governance security. With 91% approval from over 25,000 participants, the plan introduces staking and delegation options for ARB holders, who will receive stARB tokens representing their stake. These staked tokens will support auto-compounding rewards and integration with DeFi applications. The proposal aims to address ARB’s low value accrual and declining voter participation while preventing governance attacks. This move is part of Arbitrum’s effort to leverage its Layer 2 Ethereum solution, which holds over $2 billion in total value locked.

Arbitrum DAO approves ARB staking proposal

Arbitrum DAO approves a proposal enhancing ARB token utility and governance security, with 91% support from participants.

Crypto BriefingVince Dioquino

As the Web3 landscape continues to evolve, staying informed about these trends and updates is key to navigating the future of decentralized technologies and finance. Thanks for joining us today—be sure to check back next week for more insights and developments in the world of Web3. Have a great weekend!

WEB3 AI ML