Russian Drugs and The Most Illegal ICO Ever?

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With bitcoin recovering after four straight days of decline we're talking about what may be the most illegal ICO ever, tokens for Mongolian taxi fares, Bitmain's Texas hedge and one "Suicidal" startups surprising success....Tune in as CoinDesk podcasts editor Adam B. Levine and senior markets reporter Brad Keoun run down recent action, track interesting longer-term trends, and highlight the best "Thinking with tokens" and some of the most important crypto industry developments of the day.

Adam B. Levine: It's December 13th, 2019, and you're listening to Markets Daily, I'm Adam B. Levine, editor of Podcasts here At Coindesk, along with our senior markets reporter, Brad Keoun, to give you a concise daily briefing on crypto markets and some of the most important news developments in the sector over the past 24 hours.

CoinDesk's Anna Baydakova reports that Hydra, Russia's largest darknet market, is seeking to raise $146 million through a token sale to fund a worldwide expansion.

With the crypto market stuck in a funk as we head into the last few weeks of the year, there's more job cutbacks in the industry following the news yesterday of reductions at the crypto-focused firms Circle and Consensys.

He's managing editor of Markets at CoinDesk and he just wrote a story about Bitmain's options offer.

So if Bitmain really were 100% fully hedged, you would probably see an uptick in the options market with them buying those low strike price puts in the market just to say "Okay, you know, we'll buy them, we'll give it to our customers." They did it early on Monday.

Digix is a project that holds physical gold and represents it with tokens on the ethereum blockchain via its DGX token.

So the idea is that the whole enterprise could be dissolved, and token holders might see immediate profits rather than waiting for Digix's gold-back tokens to take off.

Ryan Zurrer of the Swiss crypto-asset firm Dialectic told Dale that many of the best known ICOs that ran sales prior to the peak of the bull market in 2017 are sitting on vast resources, since those projects were essentially capitalized with crypto tokens like ether whose value has appreciated faster than the underlying company's development.

Brad: BACK TO YOU ADAM.Adam: Join us again on Monday, for the next Daily Markets from Coindesk.

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