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Japans National Institute for Disaster Resilience and Safety (NIED) has preliminarily determined the magnitude of the earthquake in Japan to be 6.2.According to NHK, an earthquake with an intensity of 5+ struck the Amami region of Kagoshima Prefecture, Japan. The initial magnitude was 5.9, and no tsunami warning was issued.On May 20th, the United Nations released its mid-year update to the "World Economic Situation and Prospects 2026" report on May 19th, lowering its 2026 global economic growth forecast from 2.7% in January to 2.5%. The report argues that the Middle East conflict has impacted the global economy, leading to slower growth, rising inflation, and exacerbating global uncertainty. The report states that the conflict has resulted in constrained energy supplies and soaring prices, coupled with increased freight and insurance costs, causing global production costs to rise rapidly through the supply chain. The report projects that global inflation will reach 3.9% in 2026, 0.8 percentage points higher than the January forecast, with inflation in developed economies rising to 2.9% and in developing economies to 5.2%. Furthermore, the Middle East conflict has driven up energy prices and tightened financial conditions, putting pressure on developing economies. The report states that the Middle East is one of the regions most severely affected by the Middle East crisis, with its economic growth projected to decline from 3.6% in 2025 to 1.4% in 2026. Furthermore, due to its heavy reliance on imported energy, the EUs economic growth is expected to slow from 1.5% in 2025 to 1.1% in 2026.Samsung Electronics shares fell more than 3% after wage negotiations broke down.According to Yonhap News Agency, Samsung Electronics South Korean labor union stated that negotiations between the union and management have been terminated.

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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