ChainCatcher news, according to Crowdfund Insider, the U.S. Securities and Exchange Commission (SEC) announced that it has reached a settlement with the cryptocurrency lending institution Plutus Lending, LLC, which will pay a civil penalty of $1.65 million.According to the U.S. Securities and Exchange Commission, Plutus operated under the name Abra and launched a retail crypto asset lending product called Abra Earn, but this product was not registered with the agency.

ChainCatcher message, based on Arbitrum, PlutusDAO posted on X that its X account has been taken over by the new Plutus team.

ChainCatcher news, PlutusDAO has initiated a "Activate ARB Staking" proposal in the Arbitrum community, which allocates token inflation to users who lock their tokens. The Arbitrum DAO has the authority to mint 2% of the total supply of ARB annually as inflation, with the first minting date set for March 15, 2024 (the minting function can only be called once a year). It is proposed to mint 1.75% of the token supply and distribute it within a year.Since the minting function is not yet available, PlutusDAO suggests using an equivalent amount of funds from the Arbitrum DAO treasury and establishing a distribution mechanism for the locked ARB token holders. The funds used from the treasury will be replenished when the minting function becomes available on March 15, 2024.