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On September 13, local time, President Xi Jinping attended the second phase of the 18th BRICS Summit in New Delhi and delivered an important speech. Xi Jinping pointed out that the 15th Five-Year Plan is not only Chinas own development blueprint but also a list of cooperation opportunities for the world. China will continue to promote high-quality development, expand high-level opening-up, implement global development initiatives, advance high-quality Belt and Road cooperation, share opportunities and create prosperity with all countries in the world, and jointly write a new chapter of unity and self-reliance in the Global South.On September 13, local time, President Xi Jinping, while attending the second phase of the 18th BRICS Summit in New Delhi, proposed five initiatives to deepen BRICS cooperation: an open-source and inclusive initiative for artificial intelligence; a trade and investment facilitation initiative; a digital industry cooperation initiative; a smart manufacturing cooperation initiative; and a science and technology talent development initiative. Xi Jinping emphasized that for the BRICS to achieve significant progress and development, it must solidify the foundation of pragmatic cooperation. It should leverage its advantages of being backed by emerging markets and connecting the global south, adhere to open cooperation and mutual benefit, maintain the stability and smooth flow of industrial and supply chains, and cultivate an integrated market. It should build innovation incubators, upgrade traditional industries, develop emerging industries, and plan for future industries, allowing emerging technologies to illuminate the path to common prosperity.According to RIA Novosti, sources revealed that the Ukrainian armed forces failed to break through the encirclement in the Kharkiv region.According to RIA Novosti, Finnish activists say it is unlikely that Finland will open its border to Russia after the 2027 parliamentary elections.September 13 - According to "Haiyang Release", the Gravity-1 (Y3) carrier rocket, assembled at Haiyang Oriental Spaceport, is expected to be launched in the East my country Sea on the morning of September 16, aboard the "Oriental Spaceport" launch ship.

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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