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On January 21, the State Administration for Market Regulation (SAMR) held a special press conference, announcing ten typical cases of "involutionary" competition in 2025. Shi Xinzhang, Deputy Director of the Quality Development Bureau of SAMR, stated that in 2025, SAMR urged power bank manufacturers to implement 10 recalls, involving a total of 1.3977 million units. SAMR coordinated with relevant provincial bureaus to strengthen guidance, urging manufacturers to respond promptly to consumers reasonable demands and properly resolve problems encountered during the recall process. Currently, the number of complaints about power banks on relevant complaint platforms has decreased by 85% compared to the peak in July 2025, and is showing a continuous downward trend. The direct problem arising from this power bank recall is the loophole in the quality control of battery cells by manufacturers, but the deeper reason behind it is the "price war" and "involutionary" competition in the rapid development of the power bank industry, with retail prices of power banks constantly approaching the material cost line.On January 21, the State Administration for Market Regulation (SAMR) held a special press conference to announce ten typical cases of comprehensive rectification of "involutionary" competition in 2025. The first case involved a public interview with Lalamove. Liu Jian, Deputy Director of the Anti-Monopoly Department of SAMR, stated that SAMRs public interview with Lalamove, based on the Anti-Monopoly Law, is a concrete regulatory measure to implement the decisions and deployments of the Party Central Committee and the State Council. By utilizing the "three letters and one notice" approach to anti-monopoly measures, SAMR is employing flexible regulatory measures while fully transmitting regulatory pressure, strengthening the binding effect and social supervision, and effectively ensuring the platforms main responsibility. SAMR will supervise Lalamove to fully implement the rectification requirements, maintain fair market competition, protect the legitimate interests of truck drivers, guide the industry back to rational competition, optimize the competitive ecosystem of freight platforms, and promote the formation of a market order of high quality, fair pricing, and healthy competition.ECB Governing Council member Koch said threatening tariffs will accelerate inflation in the United States.On January 21, it was learned from the Shanghai Changning District Tax Bureau of the State Taxation Administration that Shanghai Xunmeng Information Technology Co., Ltd. failed to submit tax-related information as required by the "Regulations on Tax Information Reporting for Internet Platform Enterprises" and was ordered by the tax authorities to rectify the situation within a specified period. Although the company had made rectifications, it failed to complete them within the prescribed time limit. Therefore, the bureau imposed a fine of 100,000 yuan on Pinduoduo in accordance with laws and regulations.European Central Bank President Christine Lagarde: Central banks cannot always be the ones to deal with debt problems.

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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