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On January 19th, Shanghai Petrochemical announced that it expects a net loss attributable to shareholders of the parent company of approximately RMB 1.289 billion to RMB 1.576 billion in 2025, compared to a loss in the same period of 2024. The estimated net loss attributable to shareholders of the parent company after deducting non-recurring gains and losses is approximately RMB 1.28 billion to RMB 1.564 billion. In the same period of 2024, the net profit attributable to shareholders of the parent company was RMB 317 million, and the net profit attributable to shareholders of the parent company after deducting non-recurring gains and losses was RMB 338 million. The main reason for the expected loss in 2025 is that international crude oil prices are generally trending downwards, product market demand has not improved significantly, the gross profit margin of the companys main refining products has shrunk, and the total volume of goods sold has decreased due to the major overhaul of the companys production facilities in the fourth quarter. These factors combined have led to the companys operating loss.According to Hong Kong Stock Exchange filings, Xiaomi Group repurchased 4 million Class B shares on January 19, spending approximately HK$150 million.On January 19th, the Nanjing Municipal Government website released the "Nanjing Municipal Online Ride-Hailing Service Management Measures." Addressing issues such as "opaque commission rates" charged by ride-hailing platforms, the measures stipulate that platforms must publicly disclose their maximum commission rates and, after each order is completed, list the "total amount paid by the passenger, the drivers actual income, and the commission" on the drivers end. If the commission exceeds the limit, the driver can file a complaint. The measures will take effect on February 14th. This is the first systematic revision of Nanjings initial ride-hailing management measures since their implementation in 2017. Compared to the old version, the measures lower several "thresholds." Regarding vehicles, the entry requirements have been relaxed from "initial registration" to "no more than 2 years since initial registration," and additional requirements such as "electronic stability control systems" have been removed. Regarding drivers, the clause requiring "Nanjing household registration or residence permit" has been deleted.The final reading of the Eurozones core CPI annual rate for December was 2.3%, in line with expectations and unchanged from the previous reading.The final reading of the Eurozones core CPI for December was 0.2%, unchanged from the previous month.

DEX dYdX Blocks Tornado Cash Affiliated Accounts Citing US Sanctions

Jimmy Khan

Aug 12, 2022 14:47

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This week, the Office of Foreign Asset Control (OFAC) and the US Treasury imposed an outright ban on Ethereum, putting the decentralized non-custodial privacy solution therein in serious jeopardy.


The government not only forbade its residents from utilizing the services, but it also established similar guidelines for cryptocurrency firms, telling them not to collaborate with the platform. Since that time, dYdX has been the first decentralized exchange to take action in its direction.

After a tornado, dYdX

The DEX gave its clients an explanation of the cause of the Tornado Outage on the platform in a blog post published yesterday.


As the $625 million Axie Infinity Ronin Bridge assault, where Tornado was utilized as a way to transport the stolen cash around, is one of the most well-known hacks in the history of cryptocurrency, the OFAC banned Tornado Cash.


Beyond this, however, Tornado's privacy regulations made it a go-to for thieves. Thus, the OFAC declared it obligatory to avoid Tornado Crash in order to eliminate the likelihood that the same would be sponsored from inside the nation.


As a result, a sizable number of customers saw that dYdX had disabled their accounts because of their connection to Tornado Cash, according to what the DEX had to say.


"This sudden influx of flags affected many account holders who have never directly interacted with Tornado Cash, and frequently such users do not realize the origin of the funds transferred to them during various transactions prior to interfacing with our platform, but we must nonetheless maintain certain restrictions," said Tornado Cash.

A terrifying storm with a tornado

Things started to fall apart as the crypto facilitator platform dealt with OFAC prohibitions, and in only three days, the network's native token, TORN, reached new lows.


Trading for TORN was spotted at $16.3, down from $30 less than a week ago, a drop of more than 45%.


Investor losses as a result of this abrupt blacklisting are unprecedented since the platform has been permanently blacklisted, making it unable to recoup from the price collapse of 45%.


And now that both DeFi and non-DeFi crypto exchanges are acting in this way, things are only going to grow worse for TORN moving ahead.

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