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On May 7th, oil prices plummeted on Thursday amid news of a potential peace agreement and the possible gradual reopening of the Strait of Hormuz. Both major benchmark crude futures had already plunged more than 7% on Wednesday, hitting two-week lows as market optimism fueled hopes for a possible end to the Middle East conflict. Priyanka Sachdwa, senior market analyst at Phillip Nova, stated that from a broader perspective, the oil market has been caught between diplomatic maneuvering and supply disruptions for over two months, with investor sentiment almost daily swayed by headlines. If a formal agreement is ultimately reached, oil prices could experience a freefall as the geopolitical premium quickly dissipates from the market. However, any new signs of attacks on oil infrastructure or escalation in the Middle East could easily trigger another surge in crude oil prices. Hiroyuki Kikukawa, chief strategist at Nippon Securities Investment, said that while peace negotiations may continue at least until next week, the outlook afterward remains uncertain.May 7th - Hopes for a US-Iran peace agreement persisted, causing oil prices to fall and the US dollar to weaken. An analyst at ANZ Bank Research stated, "The situation remains highly volatile, and intraday volatility is likely to remain high until more substantial progress is seen." Lloyd Chan, senior foreign exchange analyst at MUFG, said, "All indications continue to suggest that the parties have limited willingness to further escalate the situation in the Middle East." He added that with the US midterm elections approaching and gasoline prices soaring, the US government appears motivated to resolve the conflict.On May 7, the Dutch Ministry of Health announced that a Dutch woman exhibiting suspected symptoms of Hantavirus infection had been admitted to a hospital in Amsterdam for treatment. The woman, reportedly a flight attendant for KLM Royal Dutch Airlines, had reportedly been in contact with a woman who died in Johannesburg, South Africa, from Hantavirus infection.Chinas foreign exchange reserves in April were $3,410.547 billion, below the expected $3,360 billion and the previous months $3,342.12 billion.The head of MET LNG, a commodities trading group, said: "The Middle East needs more infrastructure investment in the future, which is crucial for the regions future."

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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