Stakingbits

Zipmex has suspended withdrawals on its platform after announcing on Twitter that it is affected by the recent implosion of its business partners.

Speculation is rift that Zipmex has customer funds deposited in Celsius and Babel Finance, which have both gone underwater after making bad loans to institutional players…

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The Arbitrum team has decided to pause Arbitrum Odyssey until once Nitro is released due to heavy load being put on the chain causing higher than normal gas fees.

Like Ethereum, when traffic hits capacity the L2 gas price increases automatically until the traffic surge slows down. As a result of the frenzy during last week’s Arbitrum Odyssey Campaign, many users were priced out.

In case you missed it, Nitro is an upcoming upgrade to Arbitrum that is built on standard technologies like WASM and Geth, so it’s more EVM-compatible and possibly 20–50x faster than than the current version of Arbitrum.

Till then, continue using Arbitrum!

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