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Key Takeaways From Senate Banking Committee's Crypto Hearing

As U.S. lawmakers become increasingly concerned about different aspects of the digital asset industry, Congress is continuing to hold hearings around cryptocurrencies. Marta Belcher, the Board Chair of the Filecoin Foundation and participant of Tuesday's Senate Banking Committee's hearing on cryptocurrencies' use cases, discusses her main takeaways from the hearing and why she's "not surprised" that it focused primarily on issues of ransomware and ESG.

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Bitcoin Retreats After Touching $40K as Amazon Denies Rumors Over Bitcoin Adoption

On the heels of Amazon denying plans to accept bitcoin payments by the end of the year, BTC ​is in pullback mode after approaching $40K Monday. Michael McGuire, CEO of digital asset exchange Symbridge, discusses what to make of the apparent upswing and volatility. Plus, how SEC Chair Gary Gensler's response to Sen. Elizabeth Warren's letter due Wednesday might have a dampening effect on the crypto markets.

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BTC Daily Trading Volume Highest Since June 22

According to Arcane Research, as BTC's price spiked over $40K Monday, bitcoin's daily trading volume jumped over $9 billion in its highest climb since June 22nd. "All About Bitcoin" host Christine Lee breaks down the Chart of the Day.

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Amazon Denies Report It Plans to Accept Bitcoin by End of Year

Amazon has denied the City A.M. report it plans to accept bitcoin payments by the end of the year. While many cited the report as one reason for bitcoin's rebound, the price began retracing some of its gains after a spokesperson for the retail giant confirmed it is false. "The Hash" panel examines the speculative and reactionary nature of bitcoin, discussing Amazon's potential hurdles on the path to crypto adoption.

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Bug Found in Decoy Algorithm for Privacy Coin Monero

A “significant” bug with the potential to expose users’ transactions has been spotted in the decoy selection algorithm of monero, a cryptocurrency known for providing users privacy. "Monero really [does] have a commitment to being the most private currency [it] can be," host Benjamin Powers said. "And that this all the more discouraging, unfortunately."

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Shopify to Allow Merchants to Sell NFTs Directly Through Their Stores

Shopify, which powers the e-commerce sites of over 1.7 million businesses worldwide, announced Monday it is now allowing merchants on its platform to offer non-fungible tokens (NFT) directly to customers, with the NBA's Chicago Bulls being one of the first to sell. "The Hash" team unpacks the story as it potentially opens digital assets to much wider adoption.

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Crypto Fintech Eco Raises $60M for High-Yield USDC Savings App

The a16z-backed Eco, a fiat deposit-taking, cashback-granting digital wallet and stablecoin lender, which loans out users’ deposits in USDC, raises another $60 million to propel its crypto-powered banking app. "The Hash" discuss the outlook for Eco as regulators turn up the pressure on stablecoins.

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Huobi Shuts Down Beijing Entity Amid China's Crypto Crackdown

As Chinese authorities crack down on local mining operations, other crypto fields appear to be impacted, including exchanges and media platforms, which could be driving massive selloffs in Chinese tech stocks. Huobi is the latest crypto exchange to be hit, dissolving its Beijing entity on July 22 and deregistering in 45 days. Why is China tightening the reins on crypto and Big Tech? "It's all about control here," host Naomi Brockwell said.

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USDT Maintains Dollar Peg as Traders Shrug Off DOJ Tether Probe Report

USDT has largely held its dollar peg since Bloomberg reported Monday the U.S. Department of Justice is investigating Tether, the issuer of the largest stablecoin, for possible bank fraud. CoinDesk Global Policy and Regulation Managing Editor Nikhilesh De discusses the latest developments in the ongoing investigation and what to watch for.

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Should We Be Worried About Tether?

Bitcoin is up about 25% over the past week, despite pulling back after approaching the $40K resistance level on Monday. Frances Coppola, author of "The Case For People's Quantitative Easing," discusses the potential reasons behind bitcoin's bounce. Plus, breaking down the proposed systemic risks of Tether and how it could impact the wider financial markets. "It is a worry," Coppola said.

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