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On August 13th, SpaceX (SPCX.O) shares surged nearly 12% intraday. This rise was driven by a Morgan Stanley research report, which argued that the public market significantly undervalued SpaceXs artificial intelligence enterprise platform. Investors are increasingly viewing SpaceX not just as an aerospace and satellite hardware company, but as a vertically integrated technology giant with its own data, global network infrastructure, and cutting-edge AI models. Morgan Stanley analyst Adam Jonas stated that SpaceXs recent AI offerings demonstrate a broader software ecosystem, with GrokBot being early evidence of this platform. This platform combines unique real-time data, vertically integrated computing power, connectivity, and intelligence—values not yet fully priced into the market. The report points out that SpaceX possesses two structural advantages: a real-time data pipeline from telemetry data from the X and Starlink satellite networks; and a "real-world" moat combining low-cost computing power with a global communication network. Musk previously stated that Grok 4.7 will surpass all current models, citing SpaceXs unique and powerful training data as giving it an advantage in real-world engineering capabilities.Market news: Minouch Shafiq, former deputy governor of the Bank of England and director of the International Monetary Fund, has stepped down as chief economic advisor to the British Prime Minister.U.S. Central Command: As of August 12 local time, the U.S. military has forced 59 merchant ships to change course, rendered 3 ships inoperable, and boarded and inspected 2 ships.According to CBC News: Canada and the United States are not yet ready to reach a tariff agreement, and Canada is dissatisfied with the latest U.S. proposal.Irans Persian Gulf Straits Authority: US officials have claimed and repeatedly announced that the Strait of Hormuz is no longer blocked, but these claims do not change the reality: the Strait of Hormuz remains closed and will not reopen unless Irans conditions are accepted.

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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