Crypto and market updates from Sept. 6-7: ARB supply debate, Harmony migration plan, and Liquid Network incident
A broad set of developments landed between Sept. 6 and Sept. 7 across crypto, AI, and traditional finance. PANews’ roundup included a roughly 360 billion yuan capital replenishment plan announced by eight central financial institutions in China, as well as a clarification from Offchain Labs co-founder Steven Goldfeder, who said the portion of ARB still locked will fall to about 7.7% of total supply after current investor and team unlocks finish in March next year. He added that about 2.84 billion ARB is held by the Arbitrum DAO treasury and should not be treated as conventional locked supply. The update also covered protocol revenue rankings from DefiLlama, with Pons and Fomo posting higher 24-hour revenue than Hyperliquid, and Token Unlocks data showing large scheduled releases next week for APT, LINEA, CHEEL, and PEAQ. Elsewhere, Harmony proposed shutting down its mainnet launched in 2019, migrating ONE to Ethereum, and shifting toward an AI video remix business. The proposal includes wallet and staking snapshots, validator compensation, and a 2026 deadline for users to exit smart contracts that cannot be migrated. Other items included withdrawal complaints involving WOO X, a renewed public exchange between Solana co-founder Toly and Goldfeder over sequencer design and hidden transaction costs, a security incident at Liquid Network involving about 4,000 BTC, sharp declines in several Robinhood ecosystem meme tokens, and comments from Senator Cynthia Lummis that failure to pass the Clarity Act in the current Congress could delay another real chance at market structure legislation until 2030.








