Texas Wants to go Back to the Gold Standard. Bitcoin Standard When?
So the Bretton Woods gold standard isn’t tenable but is the current fiat system much less problematic? Many believe that the new system concentrates too much power in the Federal Reserve. For example, the Fed increased the M2 money supply (the amount of all dollars in circulation including deposits) by 27% in 2020-2021 under its aggressive Quantitative Easing (QE) program that aimed to prevent a recession. This was the largest increase in the country’s history, beating out even the second world war (18%) and the 2008 financial crisis (10%). To the surprise of (almost) no one, this heavily contributed to widespread, lasting inflation that is still affecting American citizens today.
Economists still argue over whether the Fed’s actions were positive or negative on the whole but many agree that QE unfairly benefits monolithic corporations over small businesses and individuals. Many detractors of the buying spree hope that a gold standard could be a good way to bring the Fed into line.
SEC Adding More Anti Crypto Lawyers for Crackdown
The call for attorneys to join the regulator's Crypto Asset and Cyber Unit, or CACU, comes after the agency said in March that it was "planning to add additional staff" to the unit, which was initially meant to be a 20-person operation but has since doubled in size.
Under Chairman Gary Gensler, the SEC has been cracking down on the crypto industry with renewed vigor since the 2022 market turmoil saw the collapse of big firms in the sector, crypto exchange FTX among them.
The attorneys joining the CACU are expected to conduct investigations involving "crypto asset securities," develop litigation plans, draft legal documents including subpoenas and conduct depositions.
New York Times Writes Extensive Hit Piece On Bitcoin Miners & Texas
"Ninety-two percent of the power demand of the Genesis Digital Assets mine in Pyote, Texas, is met by fossil fuel plants, causing 546,000 tons of carbon pollution each year."
Featured Podcast/Youtube
In this episode of "The Knight Show" JoshuaJake, Blockchain Boy, and Samuel Armes discuss Trump NFTs, the Dollar in Decline, OPEC's Oil Cartel and how it effects Crypto, and lastly, Andrew Tate.
Analytical Data
Almost 1 MILLION addresses hold +1 🥇 Bitcoin - a new all-time high! 🚀
💰 Bitcoin is the most Googled word in the USA
Microstrategy: Acquired 6,455 💰 Bitcoins for Approximately $150.0 Million, at an Average Price of $23,238 Per Bitcoin. ▪️MicroStrategy said it now holds 138,955 BTC acquired for approximately $4.14 billion at an average price of $29,817.
In The Know
What’s Next After Ethereum’s Shanghai Upgrade?
Last year saw the Merge. Now comes the Verge, Purge and Scourge.
coindesk.com
Bitcoin Breaks Above $30K for First Time Since June 2022
The move continues a 2023 rally that has now seen the most popular crypto gain more than 80% in value.
coindesk.com
The Winklevoss twins have lent $100 million of their own money to keep their Gemini exchange afloat as venture funding slows
Billionaires Tyler and Cameron Winklevoss made the loan after Gemini informally sought funding from outside investors, Bloomberg reported.
markets.businessinsider.com
US share of global crypto developers fell 26% in 5 years — a16z
The report expresses hope that the U.S. may regain its share of the Web3 space if legislation and court cases bring regulatory clarity.
cointelegraph.com
Bitcoin mining firm Bitmain reportedly fined for tax violations in China
Beijing-based cryptocurrency mining firm Bitmain has reportedly violated tax regulations in China, with local authorities imposing a $3.7 million tax penalty.
cointelegraph.com
Events
Click here for events & meetups inApril 2023
use code “FBBA” to get tickets for just $149 (a $226 discount)!
Crypto News Heard Around the State
Tampa News
VR tennis startup sets sights on Tampa
As an incoming ball travels over the net on a clay court, the opposing tennis player must prepare to return the serve, delivering a powerful swing while facing changing environmental conditions - all of which are factors virtual reality training company Sense Area measures. Sense Arena, a startup from Prague in the Czech Republic known [...]
stpetecatalyst.com
Regional bank CEO discusses recent industry woes
When Silicon Valley Bank (SVB) collapsed March 10 - the largest failure since the 2008 financial crisis - regional banks received a cascade of negative attention. While experts agree SVB's downfall was due to several factors related to risk management and a subsequent bank run, its focus on venture capital and technology startups also underwent [...]
stpetecatalyst.com
Miami News
2024 Watch: Republican Mayor Suarez of Miami headed to New Hampshire after stop in Iowa
After a stop in Iowa a week and a half ago, Mayor Francis Suarez of Miami is headed to New Hampshire, as he considers a run for the 2024 Republican presidential nomination
foxnews.com
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