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On December 3, at a formal meeting of the World Trade Organizations Trade Policy Review Body held on December 2, China expressed its position on the WTOs latest report on member trade measures, calling on members to fulfill their notification obligations regarding trade measures, enhance trade policy transparency, and maintain the stable operation of the multilateral trading system. The Chinese statement pointed out that the United States, as a WTO member with significant influence on international trade, has failed to promptly notify the WTO of its trade and related measures, adversely affecting the effective operation of the WTOs monitoring function. China urged members to actively fulfill their transparency obligations and, in the current volatile trade environment, proactively and promptly notify the WTO of new trade measures, particularly arrangements involving tariff changes, regardless of their legal binding force, all of which should be included in the monitoring and notification scope.The API reported that U.S. crude oil production increased by 416,000 barrels per day in the week ending November 28, compared with 337,000 barrels per day in the previous week.U.S. refined product imports for the week ending November 28 were 125,000 barrels per day, compared to 245,000 barrels per day in the previous week.U.S. crude oil imports for the week ending November 28 were 276,000 barrels, compared to a -319,000 barrels in the previous week.U.S. heating oil inventories were 30,000 barrels in the week ending November 28, compared with a previous weeks decrease of 137,000 barrels.

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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