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On May 25th, the highest 7-day annualized yield of Tencent Wealth Managements "Current Account +" was 1.5120%, and the lowest was 0.7120%. The highest 7-day annualized yield of WeChat Pays "Lingqian Tong" was 1.0270%, and the lowest was 0.0030%. The highest 7-day annualized yield of Alipays "Yuebao" was 1.0500%, and the lowest was 1.0000%.On May 25th, at the International Symposium on Circuits and Systems (ISCAS 2026), He Tingbo, Director of Huawei and President of its Semiconductor Business Unit, stated that the Kirin mobile phone chip, slated for release this fall, is the first to adopt logic folding technology, resulting in a significant performance improvement. He Tingbo said, "The Kirin 2026 mobile phone chip represents the first successful implementation of logic folding technology. In the next ten years, we will continue to move towards full folding, and even more layers of folding, continuously optimizing the entire stack performance from devices and circuits to chips and systems."On May 25th, Yu Yuan Tan Tian published an article stating that the nine-year technological competition between China and the US has yielded two conclusions: First, it is impossible for the US to disrupt Chinas technological development through extreme pressure. Over the past nine years, the so-called "decoupling" has even spurred breakthroughs in Chinese technology: the production capacity of mature chip manufacturing processes has continued to ramp up, achieving a historic breakthrough in integrated circuit product exports exceeding one trillion yuan; "bottleneck" technologies are being continuously tackled; and domestic large-scale substitution has been achieved in areas such as chip etching and packaging. Second, cooperation can create space for common development for both China and the US. Today, China and the US are almost simultaneously at the forefront in fields such as artificial intelligence, advanced manufacturing, new energy, and quantum technology. Many issues require joint solutions from both sides.On May 25th, the Chicago Mercantile Exchange Group announced plans to launch a futures market for AI computing power this year. With the demand for computing power experiencing exponential growth, computing power will accelerate its assetization and financialization, potentially evolving from a single product into an ecosystem. In response to questions regarding whether Hong Kong has initiated research and feasibility studies on computing power futures products, the Hong Kong Stock Exchange stated that it currently has no comment on computing power futures and will release relevant information to the market in a timely manner if any becomes available.The Peoples Bank of China announced today that it conducted 258 billion yuan of 7-day reverse repurchase operations, with both the bid and winning bids amounting to 258 billion yuan. The operating rate was 1.40%, unchanged from the previous rate.

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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