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According to Hong Kong Stock Exchange documents, Guangzhou Penghui Energy Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange.U.S. silver mining stocks fell, with Hecla Mining (HL.N) down 9%, Cordair Mining (CDE.N) down 8.6%, Silvercorp Metals (SVM.A) down 8.7%, and Endeavour Silver (EXK.N) down 8.1%.Micron Technology (MU.O) rose more than 3%, bringing its monthly gain to over 57%, and its market capitalization surpassed $500 billion for the first time.On January 30th, Trump turned the selection process for the Federal Reserve Chair into a game show, with Kevin Warshs ultimate victory being arguably the most unexpected choice. This decision is bound to exacerbate market volatility and may displease all parties, including Trump himself. This nomination will first trigger a strong cognitive conflict on Wall Street and in policy circles. Although Trump promised to choose a Fed Chair capable of implementing loose monetary policy, Warsh has always been considered a hawk. This background will make it difficult for Warsh to build credibility. If he chooses to cut interest rates, the market will see him as abandoning principles and submitting to Trumps puppet; if he maintains high interest rates for too long, he will inevitably clash with Trump quickly, which in itself will trigger market volatility. Before Powells term ends, Warshs "shadow term" has already begun, potentially leading to confused policy signals and market misinterpretations. Intriguingly, Warshs victory seems to stem from a "survivors logic." When the Trump team lost interest in Hassett, he became the only remaining option. Until December of last year, Hassett was still the top favorite in the forecasting market, but concerns that his nomination could drive up bond term premiums, coupled with warnings from Wall Street executives that someone too close to the president should not be in charge of an independent central bank, eventually changed the situation.On January 30th, Federal Reserve Governor Waller stated that the current interest rate range is 3.50%-3.75%, and monetary policy should be closer to a neutral level, which he believes is around 3%. Despite robust economic growth, the labor market remains weak. Waller expects last years weak employment data to be revised downwards, reflecting near-zero job growth in 2025. He stated that he has heard of several companies planning layoffs in 2026, and therefore is quite skeptical about job growth, warning of a significant risk of a sharp deterioration in employment. Regarding inflation, Waller pointed out that the inflation rate excluding tariffs is close to the Feds 2% target and is on track to reach it. Although inflation has risen due to tariffs, he believes that given that inflation expectations have stabilized, monetary policy should ignore these temporary effects. Waller voted against a 25 basis point rate cut at this weeks meeting, arguing that current policy is still excessively suppressing economic activity.

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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