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Dell (DELL.N) shares rose to 10%.On September 11th, the preliminary reading of the University of Michigan Consumer Sentiment Index for September came in at 47.8, marking the second consecutive monthly decline, though the drop was less than 4 points. Both Democrats and Republicans saw significant declines, while independents remained largely unchanged from August. Expectations for personal finances and business conditions over the next year fell sharply. With rebounding fuel prices and escalating trade tensions, consumers anticipate greater pressure on their wallets in the future. Five-year expectations for business conditions remained stable, but the reading was well below historical averages, suggesting that consumers believe the new risks emerging this month may not further worsen the long-term outlook. Overall, consumer confidence is currently 16% lower than before the start of the Iran conflict in February and 13% lower than a year ago. Inflation expectations for the next year jumped to 4.6% this month from 4.0% last month, the highest reading since June. The current reading significantly exceeds the 3.4% in February before the Iran conflict and also surpasses all readings for 2024. Long-term inflation expectations rose slightly to 3.4%, ending three consecutive months at 3.3%. These expectations remain above the 2.8% to 3.2% range for 2024.The preliminary reading for the U.S. five- to ten-year inflation rate in September was 3.4%, compared to a forecast of 3.3% and a previous reading of 3.30%.The preliminary reading for the US one-year inflation rate in September was 4.6%, down from the expected 4.2% and the previous reading of 4.00%.The preliminary reading of the University of Michigan Consumer Sentiment Index for September was 47.8, below the expected 51 and the previous reading of 51.7.

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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