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TD Cowen: Raises its price target for Alphabet (GOOG.O) from $450 to $475.On June 9th, Tatha Ghose, an analyst at Commerzbank, noted in a report that rising energy prices due to the situation in Iran have significantly improved Russias oil and gas revenues recently, providing support for the ruble. However, he stated that energy prices may decline by the end of the year, and the damage to refineries caused by the Ukrainian airstrikes and the reimposition of US sanctions are expected to prevent Russia from utilizing its newly expanded OPEC+ production quotas in the medium term. "Once the benefits from high oil prices fade, we expect the ruble to resume its depreciation."June 9th - Comerica Bank Senior Vice President and Chief Economist Bill Adams predicts that the US May CPI will rise above 4% year-on-year, reaching a three-year high, mainly driven by last months gasoline price increases. Core CPI is expected to remain relatively moderate, close to 3%. The fact that Mays price increases exceeded the growth rate of average hourly wages indicates further erosion of consumers real purchasing power. Meanwhile, the PPI is also expected to record another significant increase, exceeding the CPI, reflecting the higher weighting of petroleum products, metals, and transportation costs in the producer price basket. Furthermore, the preliminary consumer confidence index released by the University of Michigan in early June is expected to rebound from Mays record low, mainly boosted by the decline in gasoline prices over the past two weeks and the rise in the stock market.On June 9th, European ride-hailing platform Bolt, Pony.ai-W (02026.HK), and automaker Stellantis announced the joint launch of an autonomous driving pilot project in Luxembourg. The pilot will verify the safety, performance, and regulatory compliance readiness of Pony.ais seventh-generation autonomous vehicles in real-world Luxembourg traffic conditions. Stellantis will provide engineering and manufacturing support for the mid-sized van based on its L4-ready platform, Bolt will handle the ride-hailing platform and marketing operations, and Pony.ai will provide autonomous driving technology and operational experience.June 9 – Christopher Hui, Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region Government, announced the “Action Plan for the Development of Hong Kong Corporate Treasury Centres” at the Corporate Treasury Centre Forum today (June 9). The Action Plan proposes targeted strategies to strengthen Hong Kong’s position as a major hub for multinational corporate treasury centers, elevating Hong Kong to a primary base for corporate treasury centers and reinforcing Hong Kong’s role as a platform for “bringing in” and “going out”. The Action Plan, jointly prepared by the Financial Services and the Treasury, the Inland Revenue Department, the Hong Kong Monetary Authority (HKMA), and InvestHK, has two main objectives: to attract more multinational companies to establish corporate treasury centers in Hong Kong, and to assist existing corporate treasury centers in Hong Kong to expand their scale and fully utilize Hong Kong’s comprehensive financial ecosystem.

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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