Ripple Accusations / Canada Firm Warned / New York Times Project / Cosmos

Subscribe | View in browser $BTC (1:06 p.m. EST): $3,923.91 (0.43%) // 90-day high: $4,238.41 // 90-day low: $3,286.14 / / More… $BCH ABC (1:06 p.m. EST): $134.98 (4.63%) // 90-day high: $218.09// 90-day low: $80.95 // More… $ETH (1:06 p.m. EST): $133.55 (0​​​​.20%) // 90-day high: $160.13 // 90-day low: $86.08 // More… $LTC (1:06 p.m. EST): $56.65 (1.00%) // 90-day high: $52.69 // 90-day low: $22.09 // More… $XRP (1:06 p.m. EST): $0.31 (-0.98%) // 90-day high: $0.43 // 90-day low: $0.28 // More…       1. Miguel Vias, the head of XRP market at Ripple, denied allegations that his company paid Coinbase to list XRP last month. Ripple has been accused of bribing Coinbase after the sudden announcement that the prominent exchange would add XRP trading pairs on Feb. 26. Coinbase had taken a careful approach to XRP due to the coin's controversial history with Ripple Labs, in particular a pending $167.7 million class-action lawsuit. The addition of the coin to Coinbase did not sit well with some, including Atlana Digital Currency Fund CIO Alistair Milne, who argued that Coinbase acted suspiciously. –CCN       2. The British Columbia Securities Commission (BCSC) issued a warning against Canada Bitcoin Exchange for offering four suspicious investment plans. The investment options required customers to invest a specific capital for 24 to 48 hours and provided returns between 3.5 and 7.9 percent. BCSC said the exchange did not have a license to offer trading services, investment consultation or trading services. The company requested that deposits be made with bitcoin, meaning the victims likely had little chance of recovering their investment capital. –NEWS BTC       Ad Hiring moves fast—stay ahead of the game with Vettery's 2019 Tech Salary Report As a tech leader, you're used to a day-to-day in flux. You're focused on the big picture—roadmapping, goals, and maintaining your vibrant company culture—time is money, as they say. So let us streamline things. Want the tools to help you achieve your goals and hire talent? Vettery has you covered. 3. The New York Times posted a job for developer that can "design a blockchain-based Proof of Concept for news publishers." The listing does not include any specific information about the project. It does say that the person hired would work in the research and development division of the paper. The person would also develop a vision statement, in particular looking at how blockchain can solve particular problems at the paper. Finally, the hired developer would brand a blockchain-based publishing effort as well as develop a corresponding website. –CRYPTO GROUND       4. The highly anticipated Cosmos project, which looks to create interoperability between any number of other blockchains, officially released a live software. Called Cosmos Hub, the platform one day wants to be able to connect with existing blockchain networks to create what it calls the Inter-Blockchain Communication (IBC) protocol. This first launch comes after nearly three years of planning and development. –COINDESK       Ad What's new in the entirely reimagined Jira Software? Just about everything. The next generation of Jira has arrived, featuring new roadmaps, more flexible boards, an overhauled configuration experience, and dozens of new integrations. And that's just the beginning. See what you're missing in the entirely reimagined Jira Software. Simpler and more powerful than ever before.      5. The Social Alpha Foundation, a non-profit that provides grants to organizations looking to use blockchain to make a social impact, will give $150,000 to Yale openlab to study how blockchain can help climate change. –CHEPICAP 6. ConsenSys posted on its blog that 16 of the 20 blockchain projects with the most developer activity on GitHub are BUIDLing on ethereum (Reddit had a lively discussion on the topic as well). –CONSENSYS 7. Litecoin nearly reached $60 per coin earlier this week but has been creeping down since. Some now fear the coin has hit its ceiling, at least for the near term. –BE IN CRYPTO 8. BitMEX's research team reported a potential bug that happens when syncing the Parity full node with the ethereum blockchain. –ETH NEWS 9. NewVoiceMedia, a subsidiary of Vonage, received a patent to use blockchain to secure communications and recordings. –COIN TELEGRAPH 10. Ethereum developers plan to further discuss the controversial Progressive Proof-of-Work (ProgPoW) mining algorithm for potential inclusion in the network's next system-wide upgrade known as Istanbul. –COINDESK       Written and curated by David Stegon. He has been a reporter for 15 years, the past 10 focused on technology. Follow him @davidstegon. Editing team: Kim Lyons (Pittsburgh-based journalist and managing editor at Inside); Susmita Baral (senior editor at Inside, who runs the biggest mac and cheese account on Instagram); and David Stegon (senior editor at Inside, whose reporting experience includes cryptocurrency and technology).       Ad A reimagined Jira Software. Simpler and more powerful than ever before. Learn more. Vettery's 2019 Tech Salary Report Is Here. Download Now.

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WHAT HAS BEEN BUILT?  Last year was all about the potential of blockchain. This year the question is what's been built. We're prepared to answer this question at Construct, May 13-15, 2019, New York, NY. Hosted alongside Consensus , this three-day event will provide insights on how developers, system architects, economists, engineers and thinkers should invest their time to build the future of this industry.   With the help of ecosystem partners like Web3 Foundation and more, Construct attendees will get a holistic view of various major blockchain technologies. Construct is not about any one technology—it's about all public and private platforms. REGISTER FOR $299 AGENDA OVERVIEW Construct is a three-day experience designed to help developers understand where to invest their most valuable resource - their time. Connect with your peers across these three tracks:  Test Drive: Learn more about leading platforms and discover the tools you will need to start building.  Pioneers Stage: Hear from the industry’s most experienced builders and get updates on their cutting edge projects Changelog: Get rolling updates on platform roadmaps and funding LEARN MORE WHO ATTENDS?  Construct is built for attendees at every stage of their developer journey. Whether you're just getting started with blockchain technologies or you've already launched your first dAPP, Construct will give you the help and connections you need to get building. HOW MUCH DOES IT COST?  To ensure that Construct is accessible to builders across regions, industries and sectors, tickets are priced from $299. COMPLETE REGISTRATION Special Information for Sponsors & Partners Construct is a unique opportunity to nurture the blockchain community and introduce your technology to developers. If you are interested in getting involved or providing support, please contact a member of our team at events@coindesk.com. Be part of building this community, one block at a time.   REMINDER: Space in our competitively priced room block is booking up fast! Be sure to book your accommodations at any of our select hotel partners.  Space is limited.   This email was sent by: CoinDesk 250 Park Avenue South New York, NY, 10003, US Want to change how you receive these emails? update your preferences or unsubscribe from this list

Back to fractional reserves 🙃

March 14, 2019

ARCHIVE

QUOTE OF THE DAY

"We have elected to put our money and faith in a mathematical framework that is free of politics and human error."

- Tyler Winklevoss

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MARKET

COIN	PRICE	24H
BTC	$3,919.41	+ 0.21%
ETH	$133.48	- 0.02%
XRP	$0.312316	- 1.12%
LTC	$56.44	+ 0.14%
EOS	$3.60	- 0.54%

*Information as of 11:00 AM EST

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TETHER

New Drama Errupts After Tether Discreetly Updates Reserve Definition

For years the stablecoin Tether (USDT) has tirelessly defended its reserves as it claimed each USDT was backed 1:1 by one U.S. dollar in holding. This gave Tether its dollar peg.

But now, Tether is moving away from that model and moving to a model much more traditional - a fractional reserve system.

Tether made no announcement to accompany the change, rather they discreetly updated their website to read:

"Every tether is always 100% backed by our reserves, which include traditional currency and cash equivalents and, from time to time, may include other assets and receivables from loans made by Tether to third parties, which may include affiliated entities (collectively, "reserves"). Every tether is also 1-to-1 pegged to the dollar, so 1 USD₮ is always valued by Tether at 1 USD."

Back to square one

One Reddit comment sparked a thread on the forum saying:

"I guess we're back to trusting 3rd parties, running fractional reserves, to run the market."

That's far from the promise that Tether use to keep - even if loosely held.

To make matters worse, the Redditor pointed out that the "Proof of Funds" link on Tether's website leads to a dead page that hasn't been updated since June 2018.

Tether's stink

Despite having a consistent stink in the community about whether Tether is fraudulent or not, it still maintains it's seat as the largest stablecoin.

But that seat won't last long. According to The Block, late last year, Tether's market share of stablecoins had diminished from 98% to 73% in just 3 months.

Now, as better regulated stablecoins are gaining traction and adoption, Tether needs to clear its reputation to compete.

Here's a clue: A discreet website update is not it.

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ADOPTION

The New York Times Briefly Posted a Blockchain Job Opening

With over 4 million paid readers, the New York Times is one of the oldest media businesses still running today.

But it's old age won't stop the giant from testing new tech. According to CoinDesk, NYT posted a new job opening titled "Lead, Blockchain Exploration."

The opening has since been taken down for reasons unknown but CoinDesk still nabbed the job's details.

Here's what we know

The NYT is looking for an applicant to "help envision and design a blockchain-based proof of concept for news publishers" within the research and development division.

Some accompanying details:

• Temporary job that will last 12 months
• Responsibility for brand development
• 8+ years of experience in leading engineers, designers and journalist

We don't know fully what NYT has in mind for the project's direction but at minimum, we know the interest is there.

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EXCHANGE

Coinbase Pro Adds Stellar, 22 More to Go

Announced Wednesday, Coinbase Pro is beginning the process of adding Stellar (XLM) to its platform.

The process will start with deposits only, then will eventually roll out trading once the order books are set.

22 more to go

Back in December, Coinbase Pro identified 31 different digital assets that it was looking to add to its platform.

Since then, 9 assets have been added including:

• Civic
• District0x
• Loom Network
• Decentraland
• XRP
• Dai
• Golem Network
• Zilliqa
• Stellar

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BITS

But wait, there's more...

• 💻 IBM published a patent for resisting replay attacks.
• 🤓 Privacy cryptocurrency Grin has voted to onboard a third full-time developer.
• 🚀 Nasdaq-powered EU exchange DX.Exchange is launching security token trading in an industry first.

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