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July 21 – Capital Economics strategist Thomas Mathews stated in a report that gold remains valuable as a hedge against a stock market crash. Recently, golds performance has arguably been more of a "risk" asset than a "safe" one, given its recent price volatility, which has mirrored that of the benchmark S&P 500. Golds poor performance amidst Middle East conflicts appears to have weakened its supposed inflation-hedging role. However, the link between gold and real bond yields appears to remain intact, and any decline in real yields is expected to boost gold. If the US economy is hit and prompts the Federal Reserve to significantly cut policy rates, the recent positive correlation between gold and the stock market will not be sustained.The ChiNext index rose by more than 1%, with memory chips, semiconductors, and gaming sectors leading the gains.On July 21st, Z.ai announced the completion of a 1GW-level domestically produced AI computing power data center, utilizing entirely domestically produced AI chips. Simultaneously, Z.ai also officially completed its acquisition of XCore Sigma, a domestic AI heterogeneous computing power software company. XCore Sigma originated from the Compiler Laboratory of the Institute of Computing Technology, Chinese Academy of Sciences, and has long been deeply involved in heterogeneous computing power software stacks and compiler optimization, considered one of the top AI infrastructure teams in China. Sources indicate that these two moves respectively fill two key gaps in computing power supply and release capabilities. The former provides the computing resources needed for large-scale model training, while the latter improves the utilization rate of heterogeneous chips, reduces inference costs, and enhances model deployment efficiency through basic software capabilities such as compilers, runtimes, and inference engines.On Tuesday, July 21, the Hang Seng Index opened 7.49 points higher, or 0.03%, at 25,150.54; the Hang Seng Tech Index opened 3.51 points higher, or 0.07%, at 4,755.66; the H-share Index opened 0.71 points lower, or 0.01%, at 8,381.19; and the Red Chip Index opened 4.19 points lower, or 0.1%, at 4,069.11.Hong Kong stocks opened higher, with the Hang Seng Index up 0.03% and the Hang Seng Tech Index up 0.07%. Chip, PCB and star tech stocks led the gains, while oil stocks opened lower. Zhipu (02513.HK) opened up 4.44%.

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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