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New York gold futures surged 2.00% on the day, currently trading at $4,687.40 per ounce.The yield on Japans 30-year government bonds rose 10 basis points to 3.710%.On January 20th, the Ministry of Finance issued a notice regarding the implementation of a special guarantee program for private investment. The notice emphasizes increased risk compensation. The central government will provide risk compensation for any new compensation expenditures made by the guarantee fund under this program. The annual business scale of the guarantee fund will be determined by the Ministry of Finance based on the financing needs of enterprises, the operation of the guarantee fund, and risk control. The notice also encourages the exploration of new product offerings. Government-backed financing guarantee institutions and banks are encouraged to explore innovative models such as "supply chain + financing guarantee" and "scenario-based finance + digital RMB," focusing on expanding private investment, developing medium- and long-term credit guarantee products, and actively providing financing support for small and medium-sized enterprises (SMEs) in the upstream and downstream of key industrial supply chains.On January 20th, the Ministry of Finance issued a notice regarding the implementation of a special guarantee plan for private investment. The notice proposes appropriately increasing the risk-sharing ratio. Within this plan, banks will bear no less than 20% of the loan risk responsibility. The government-backed financing guarantee system will bear no more than 80% of the loan risk responsibility responsibility. The financing guarantee fund will appropriately increase its risk-sharing ratio for medium- and long-term loans to private enterprises, reducing the risk-sharing responsibility and compensation pressure on direct guarantee institutions. A differentiated risk-sharing mechanism will be established, with the financing guarantee funds risk-sharing ratio divided into three tiers: no more than 30% for loans with a term exceeding one year but not exceeding three years, no more than 35% for loans with a term exceeding three years but not exceeding five years, and no more than 40% for loans with a term exceeding five years.Nomura Securities raised its target price for Hyundai Motor from 370,000 won to 570,000 won.

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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