THE HASH: Crypto Mixing Service Tornado Cash Blacklisted; Novogratz’s Galaxy Digital Reports Q2 Net Loss
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 8 August 2022
⏱️ 26 minutes
🧾️ Download transcript
Summary
The most valuable crypto stories for Monday, Aug. 8, 2022.
"The Hash" team discusses the U.S. Treasury Department banning all Americans from using the decentralized crypto mixing service Tornado Cash. Plus, cryptocurrency-focused financial services firm Galaxy Digital (GLXY.TO) reports second-quarter earnings amid recent market turbulence.
This episode has been edited by Michele Musso. Our executive producer is Jared Schwartz. Our theme song is “Neon Beach.”
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | This is the hash podcast. |
| 0:09.8 | Stay informed with the latest on Bitcoin, ETH, the Metaverse, Web3, and more, |
| 0:14.6 | with stories that matter to the crypto world, all on the hash for your ears. |
| 0:20.2 | You're listening to the Coin Desk Podcast Network. |
| 0:26.4 | Hey there, everybody. |
| 0:27.7 | It's the hash. |
| 0:28.5 | I'm Zach Seward. |
| 0:29.3 | We got Jensenassie, Will Foxley, and Wendy O. |
| 0:32.4 | We are here to get you up to speed on what is shaping up to be a pretty crazy day in crypto here on Monday, August 8th. |
| 0:38.2 | We've got lots of stuff to get to starting with Will. Take it away. |
| 0:42.1 | This is the story, perhaps, of the summer, maybe even of the year. The U.S. government is |
| 0:47.3 | going after Tornado Cash. Tornado Cash is a mixer for cryptocurrency, specifically Ethereum. |
| 0:53.5 | It enables you to move Ethereum from one |
| 0:55.6 | wall to another and break the transaction history between the two. It's a very important tool |
| 1:00.7 | within crypto because it allows for privacy for almost any user, but also allows for privacy for |
| 1:06.4 | big hacks and exchanges to obfuscate what they're trying to do with their transactions, right? |
| 1:12.0 | North Korea has used tornado cash in the past specifically for the Ronan hack, where they |
| 1:16.9 | laundered about $200 million worth of hacked ETH, and they've been pumping a lot of ETH through |
| 1:22.2 | this mechanism for the last few months. |
| 1:24.6 | It's a huge deal now that a lot of people can't use this bridge because |
| 1:28.2 | the OFAC sanctions will hurt anybody who's going against them and is going to continue using this. |
| 1:33.5 | Wendy, I want to throw this one up to you. This is, again, one of the bigger stories I think we're |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from CoinDesk, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of CoinDesk and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.