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February 12th - A surprisingly strong surge in US non-farm payrolls weighed on the US Treasury market, with traders reducing their bets on a Federal Reserve rate cut this year. Short-term Treasury bonds were hit hardest, with the two-year Treasury yield rising 6 basis points to around 3.51%. The money market now expects the next Fed rate cut to occur in July, rather than the previously anticipated June. Asian stock index futures diverged after US stocks closed flat. Futures indicated a rise in Japanese stocks after Thursdays holiday, while the Australian benchmark stock index contract fell. This volatility suggests that the current strength of the US economy is offsetting market desire for lower borrowing costs, supporting risk sentiment. Bret Kenwell of eToro said investors should welcome the US jobs report, even if it gives the Fed more room to keep interest rates unchanged. He noted, "If the labor market does stabilize, that will be constructive for both the economy and the markets."February 12th - Federal Reserve Governor Jerome Milan said on Wednesday that he would be "very happy" to remain at the Fed long-term if asked, but the decision is not in his hands. Milans term has expired, making it the only remaining position available for President Trump to nominate former Fed Governor Peter Warsh as his nominee for Fed Chair, unless Fed Chair Jerome Powell resigns when his term expires in mid-May. Powell has not yet indicated his intention to leave. In an interview, Milan stated, "What happens next this year depends on many factors: whether there is a vacancy, the presidents choice, and the Senates confirmation decision."Reserve Bank of Australia Governor Bullock: The February rate hike was mainly driven by private demand.Reserve Bank of Australia Governor Bullock: The committee believes that an inflation rate of more than 3 percent is unacceptable.Federal Reserves Hamack: Rising gold and metal prices may be related to inflation.

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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