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On September 15th, institutional analysts pointed out that the market expects the Bank of England to keep its base interest rate unchanged on Thursday, but at the same time slow its planned reduction of government bond holdings. This plan is attracting increasing attention as government bond yields continue to rise. The Bank of England cut its base rate from 4.25% to 4% last month, maintaining the pace of rate cuts since August 2024. At that time, as inflation retreated from its 2022 peak, the central bank began to gradually remove policy restrictions that had been curbing economic activity. Policymakers described this series of 25 basis point rate cuts every three months as "cautious and gradual." If this pace continues, policymakers should hold the base rate at 4.25% on Thursday. However, there are signs that they will not only keep interest rates unchanged this week, but may also hold rates steady at their November or December meetings.Russian Ministry of Defense: Russian Tu-22M3 bombers are patrolling the high seas area of the Barents Sea.Dow Jones: The Bank of England is expected to keep its key interest rate unchanged and reduce quantitative tightening. Investors expect the scale of quantitative tightening to be significantly reduced to 100 billion pounds. The decision to quantitative tightening has triggered rising bond yields and intensified criticism.RBC Capital Markets: Raised the S&P 500 price target for the end of 2025 to 6350 from 6250; set the price target for the second half of 2026 at 7100.Germanys wholesale price index fell by -0.6% month-on-month in August, compared with -0.1% in the previous month.

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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