Bitcoin Update 8/4/21 | What Happens If Tether (USDT) Collapses?

With Ethereum’s much-anticipated upgrade coming soon and a look at what could happen if Tether were to collapse, CoinDesk’s Markets Daily is back with the latest news roundup. This episode is sponsored by Kava, Nexo.io and Celo. Today's Stories: Bitcoin Stuck Below $40K; Eyes Short-Term Oversold Bounce Stocks Rise, Futures Steady as China Concerns Ease: Markets Wrap European equities edge up to all-time highs on earnings optimism ‘It has never been like this’: US house price spiral worries policymakers WSJ Explains - Inflation Is Hitting Diapers. The WSJ Explains Why Airlines Hold to a Business-Travel Rebound This Fall Robinhood sparks buzz on Reddit, shares up 15% Russia's Financial Monitoring Agency Wants to Identify and Profile Crypto Users Spain Opposition Party Introduces Bill to Allow Mortgage Payments With Crypto Analysts Take Cautious Stance on Ether as London Hard Fork Nears Senator Rob Portman Defends Crypto Provision in US Infrastructure Bill Global Precious Metals Retailer Kitco to Issue Specie-Backed Stablecoin Riccardo 'Fluffypony' Spagni Hires Top Attorney to Battle Extradition to South Africa on Fraud Charges Google Allows Crypto Ads in US With Restrictions Crypto.com Appoints New Head of Growth From NBA Top Shot to Sell NFTs In-Person at Summer League Games Gaming Community Pledges $203M in Ember Sword’s Virtual NFT Land Sale Featured Story: Tether's Collapse Would Be Chaotic, Not Cataclysmic | David Z. Morris - Kava lets you mint stablecoins, lend, borrow, earn and swap safely across the world’s biggest crypto assets. Connect to the world's largest cryptocurrencies, ecosystems and financial applications on DeFi’s most trusted, scalable and secure earning platform with kava.io. - Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io. - Celo is a mobile-first platform making financial dApps and crypto payments accessible to anyone with a mobile phone. Celo supports more than 1000 projects from builders, developers, and even artists, who everyday create new applications and issue digital currencies from over 100 countries around the world. To learn more visit Celo.org today.