Banking Crises Has Arrived: 722 Banks Report Severe Losses and May Need Saving
Moreover, “31 of these banks report negative tangible equity levels,” which means they are currently “not able to borrow new money from Federal Home Loan Banks and may lose the ability to sell loans to Government Sponsored Enterprises,” the Fed presentation adds.
Florida Session Ends With Multiple Desantis and Web3 Wins
The Legislature stepped up to the plate to take on the corporatist, globalist ESG movement and prohibited the financial sector from considering so-called “Social Credit Scores” in banking and lending practices that aim to prevent Floridians from obtaining loans, lines of credit, and bank accounts based on their political beliefs.
The Governor and Legislature also pushed back against central bank digital currencies (CBDC), telling the federal administration that such government intrusion into Floridians’ financial freedom is unacceptable and will not be allowed.
North Carolina Follow's Florida: Bans CBDCS's With Spuller Amendment
At the federal level, Representative Tom Emmer and Senator Ted Cruz have both introduced separate bills aimed at restricting the Fed’s authority over CBDCs or proposing an outright ban. Robert F. Kennedy Jr., another U.S. presidential hopeful, has claimed that CBDCs could “grease the slippery slope to financial slavery and political tyranny.”
The North Carolina bill will move to the Senate, where it must pass before being signed into law or vetoed by Governor Roy Cooper. The Board of Commissioners for North Carolina’s Buncombe County also approved a one-year moratorium on crypto mining on May 2.
Twitter Spotlight
JUST IN - More than 110 nations are developing central bank digital currencies, says IMF chief.— Disclose.tv (@disclosetv) 3:26 PM • May 1, 2023
DESANTIS ANTI CBDC BILL JUST PASSED THE HOUSE & SENATE🔥🔥I brought a select few of our members up to Floridas Capitol to meet with The Governors Team The Chief Financial Officers team The Office of Financial Regulation The anti-CBDC Bill Sponsors In order for us to push… twitter.com/i/web/status/1…— Samuel Armes (Florida Blockchain Business Assoc.) (@samuelarmes) 2:02 PM • May 3, 2023
📢 BREAKING: #NorthCarolina House Unanimously Passes HB690: Banning Payments in #CBDC's & Prohibiting NC Participation in Any CBDC Testing 🚨 📎ncleg.gov/BillLookup/202…-Referred to State Senate -Thank you all who worked on this in record time #NCPOL#Bitcoin#Multistate#Tech— Dan Spuller (@DanSpuller) 12:07 AM • May 4, 2023
Analytical Data
Last year's "technical recession" wasn't a recession but it was an important development. It was what kicked off the transition period from the prior expansion (loosely speaking) to the recession now. Every time wholesales hoped sales were coming back they got disappointed.
Microstrategy ($MSTR) 🥇 Bitcoin holding has increased every quarter since August 2020.
US 🇺🇸 to ban short-selling because of bank crisis says JP Morgan - The short selling ban of September 18th, 2008 marked the start of the panic collapse of the stock market.
In The Know
Heavyweight Hedge Fund Arca Joins Activist Fight Against DAO Builder Aragon
The crypto investment fund sent a letter demanding Aragon conduct buybacks of its ANT token.
coindesk.com
The Need for Clarity in Washington – Not Just on Crypto
The recent ambiguous messaging from the Federal Open Market Committee's meeting, which left markets struggling to interpret signals from the FOMC statement and Chair Jerome Powell's comments, is typical of the abstruse signals that can be found in central bank policy-setting. But new tools, such as blockchain's cryptographic verification systems, could guide policymakers' decisions.
coindesk.com
Binance Resumes Bitcoin Withdrawals After Second Pause, Says It's Adjusting Fees and Integrating Lightning Network
The second pause came less than eight hours after the first.
coindesk.com
Events
Click here for events & meetups inMay 2023
use code “FBBA” to get tickets for just $149 (a $226 discount)!
Crypto News Heard Around the State
Tampa News
I have been quietly working on a project for the last few months that I think is time to bring to light.This project is more than just another nostr client and ₿itcoin app. It is a "community project". Introducing Bay Wallet 🌴👇— benny blader (@bennyhodl) 8:23 PM • May 9, 2023
Orlando News
Introducing Copy Pasta🍝 - the digital sanctuary for culturally significant Copy Pastas on the internetWe're passionate about Copy Pasta🍝 and love the fun culture it brings to Web3We invite you to help us bring this story to life. Here's what we're building! 🧵 👇🏿— Serpunk (@serpunketh) 10:09 PM • May 8, 2023
Miami News
Robert Kennedy Jr. to make campaign debut at bitcoin conference
The environmentalist turned presidential candidate is positioning himself as a defender of cryptocurrency, despite its massive environmental footprint.
nbcnews.com
So we really have been moving Silicon Valley to Miami…👇👇👇Did people think we were kidding????— Mayor Francis Suarez (@FrancisSuarez) 4:08 PM • May 5, 2023
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