Drums in the deep

CoinDesk Daily is sponsored by  🍂 🍂 November 21, 2017 🍂 🍂 "One thing the music industry has taught me is to manage my expectations." – Q-Tip  Got this from a friend? SUBSCRIBE HERE THE FEATURE Tether Claims $30 Million in US Dollar Token Stolen Worries gave way to realizations yesterday, as an announcement by a controversial cryptocurrency company has the sector astir. Late last night, Tether, a startup that offers a US dollar-backed cryptocurrency on top of the Omni protocol, confirmed it had lost $30 million in funds. Already, there is a plan to reset its blockchain and recapture the funds, but the damage (at least in the court of public opinion) appears to have been done. Long the subject of scrutiny, the Tether news will likely further accusations about its solvency and business practices (reported excellently earlier this year by the FT). It's also a stumble that's likely to garner attention. With regulators watching the white-hot ICO market, new mindfulness could be paid to Tether's role in its enablement. (As a US dollar proxy, it has largely served to enable exchanges without access to traditional fiat pairs.) And while the announcement yesterday may be inconclusive (or perhaps even overblown), it does hint at the state of currency cryptocurrency infrastructure. We've come a long way from 2013 in some ways. In others, it seems, not so much. Read the whole story Tweet Share ⭐ COINDESK SPONSOR ⭐ Custody for your Crypto Assets Protect and secure your assets with itBit, a regulated Trust Company, and Custodian. With itBit, all assets are backed by regulatory capital reserves, and you can verify custody account balance and holdings 24/7 with personalized access and customer support. Learn More Wait, there's more: Russia Will 'Never' Consider Bitcoin Legalization, Says Minister The Russian minister of communications and mass media said yesterday that the country will not consider the legalization of digital currencies. Blockstream, Digital Garage Team Up to Foster Blockchain in Japan Bitcoin infrastructure company Blockstream has expanded its partnership with IT firm Digital Garage to boost blockchain development in Japan. Untethered? Bitcoin Shrugs Hack to Push Above $8,000 Fears over a cryptocurrency hack revealed yesterday saw a brief crash in prices, but bitcoin soon bounced back. R3, Microsoft Expand Partnership to Boost Corda DLT Adoption Distributed ledger startup R3 is moving to more deeply integrate its Corda platform with Microsoft's Azure cloud service. Blockchain Has Potential in Curbing Odometer Fraud: EU Report The European Parliament has released a research paper that touts blockchain in the prevention of odometer fraud or "clocking." Lightning Can Scale Bitcoin, But Are Costs a Barrier? Often trumpeted as the future of bitcoin, the success of the Lightning Network may come down to economic forces, say researchers. Ethereum Startup ConsenSys Opens New London Office Ethereum development startup ConsenSys is expanding to London. Tether Claims $30 Million in US Dollar Token Stolen The team behind the stable cryptocurrency Tether is claiming $30 million worth of its funds have been sent to an unauthorized address. Bitcoin ATM Installations Draw Warning from Russian Prosecutors Prosecutors in the Russian state of Tatarstan have issued a warning to a local businessman about two bitcoin ATMs. CBOE Releases New Details on Bitcoin Futures Contracts Options exchange CBOE has released early specifications for its planned bitcoin futures product. State Bank of India to Beta Test Blockchain Smart Contracts Next Month The State Bank of India is planning to beta launch smart contracts and blockchain-based know-your-customer processes. $10 Million: Ethereum.com Domain Name Up for Sale The domain name Ethereum.com is up for grabs, according to reports. The cost? Around $10 million. CME's Bitcoin Futures Likely to Start Trading December 11 CME Group's planned bitcoin futures product could start trading on Dec. 11, according to the firm's website. JPMorgan, Goldman Sachs Trial DLT for Equity Swaps Financial firms including JPMorgan Chase and Goldman Sachs have carried out equity swaps over a DLT system. Go to CoinDesk ALL-TIME HIGH BTC: $8,223.66 -0.18%  ETH: $366.67 -0.3% @8:30 EST - More price details 👋 CoinDesk is Hiring 👋 Come join our great team here in New York City! Copyright © 2017 CoinDesk, All rights reserved. You're receiving this email because you subscribed for updates on our website. Our mailing address is: CoinDesk 636 Avenue of the Americas New York City, NY 10011 Add us to your address book Want to change how you receive these emails? You can update your preferences or unsubscribe from this list