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On August 14, Russian Foreign Ministry spokeswoman Maria Zakharova issued a statement on the ministrys website on August 13, refuting remarks made by Japanese Prime Minister Sanae Takaichi and Foreign Minister Toshimitsu Motegi regarding Russian President Vladimir Putins visit to Iturup Island (known as Etorofu Island in Japan). Zakharova stated that these remarks were politically meaningless, "insulting," and legally invalid. She said that according to the results of World War II, relevant Allied agreements, and the UN Charter, the Southern Kuril Islands (known as the Northern Territories in Japan) belong to Russia. Iturup Island is part of the Southern Kuril Islands and is an "indivisible territory" of Russia. The remarks by Takaichi and Motegi were "outrageous and completely unacceptable," filled with "revanchism," and had a negative impact on all of Japans neighbors and the entire Asia-Pacific region.According to the Saudi Press Agency, the Saudi Crown Prince and the commander of the U.S. Central Command exchanged views on deepening defense cooperation and de-escalating regional tensions.According to the Saudi Press Agency: The Saudi Crown Prince met with the Commander of the U.S. Central Command.On August 14th, the Federal Reserve announced that it would pause its Reserve Requirement Management (RMP) operations for the next month, indicating that bank reserves have reached a level deemed acceptable by the Fed. The New York Fed stated that it would suspend RMP purchases during the operating cycle ending September 14th, but would continue reinvesting approximately $17 billion in maturing principal. This move demonstrates that despite potential pressure on market liquidity from increased U.S. government cash balances, the Fed remains confident in the stable functioning of the funding markets. For most of July, the Secured Overnight Financing Rate (SOFR) was lower than the Interest Rate on Reserve Balances (IORB). As of August 12th, the SOFR fixing rate was 3.62%, 3 basis points lower than the IORB. The Fed emphasized that this adjustment only concerns reserve management operations and does not represent a change in monetary policy stance or balance sheet strategy.Iran has set the price of its light crude oil for sale to Asia in September at a discount of $4.70 per barrel to the Oman/Dubai benchmark.

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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