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March 18th - Recently, reports of HK$300 billion of Middle Eastern capital flowing into Hong Kong have been circulating widely in the market. After interviewing several Hong Kong banks, securities firms, financial institutions, and Middle Eastern market researchers, it was learned that since the outbreak of conflict in the Middle East, there has indeed been an increase in foreign capital inflows into the Hong Kong market, including some funds from the Middle East. However, the specific scale and true destination of these inflows are difficult to accurately quantify and verify. What is clear is that: on the one hand, the turmoil in the Middle East has led to a continued rise in global demand for safe-haven assets; on the other hand, Middle Eastern capital has been continuously investing in the Hong Kong and mainland capital markets over the past two years, making Hong Kong an important choice for global capital allocation, including Middle Eastern capital.On March 18th, Tencent executives responded to questions about rising storage chip prices, stating that the surge in demand for artificial intelligence has not only driven a rebound in demand for DRAM and high-bandwidth memory (HBM), but also a comprehensive recovery in demand for CPUs, solid-state drives (SSDs), and hard disk drives (HDDs). Orders now need to be placed months, quarters, or even years in advance. Suppliers are prioritizing their largest and most stable clients, such as Tencent Cloud. Smaller cloud vendors are now finding it difficult to secure stable supply chain support. The Tencent executives indicated that, under these circumstances, the industry may have no choice but to pass on increased costs to higher prices. In the past 24 hours, several Chinese cloud vendors have raised prices across multiple areas.The Ukrainian military has attacked an aircraft manufacturing plant in Russias Ulyanovsk region.Google: Threat intelligence group Google Tiger has identified threat actors who have deployed exploit chains against targets in Saudi Arabia, Turkey, Malaysia and Ukraine.Pakistan will suspend airstrikes against Afghanistan from March 19 to 24.

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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