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On May 31st, STMicroelectronics, a major manufacturer of MCUs and power semiconductors, issued a "Price Adjustment Notice" to its customers on May 28th, announcing a price increase for some products effective June 28, 2026. This is STMicroelectronics second price increase this year, following its initial announcement on March 24th. The fact that STMicroelectronics has announced another price adjustment just two months later highlights the continued pressure on its cost side.According to Iranian state media, the Iranian Islamic Revolutionary Guard Corps struck a stronghold of a separatist group in northern Iraq.On May 31, European Central Bank (ECB) Governing Council member Pereira stated that the ECB should not hesitate to act given persistently high consumer price pressures. In a media interview on Saturday evening, he said, "I think its better to act sooner rather than later to avoid a larger second-round effect. When there is a potential inflationary spiral, I tend to act more quickly and decisively." These comments come ahead of the ECBs monetary policy meeting on June 10-11, when markets and economists expect officials to raise interest rates by 25 basis points.On May 31, Federal Reserve Governor Waller stated during a panel discussion at the 32nd Dubrovnik Economic Conference that the global adoption of stablecoins could amplify the influence of Federal Reserve policy. "For countries that adopt stablecoins, its like a fixed exchange rate system," he said. "Youre inputting US currency costs, so in more countries that use stablecoins, it actually expands the reach of US monetary policy."May 31 - According to a report by the German newspaper Welt am Sonntag on May 30, citing an anonymous Pentagon source, the United States plans to accelerate its troop withdrawal from Europe and will submit a related plan to its NATO allies next 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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