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Desantis Rises: FTX Falls
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Daniel Vaiman/Explore To Create
Binance founder and chief executive Changpeng Zhao says FTX “going down is not good for anyone in the industry,” and the ongoing episode has “severely shaken” the confidence of consumers, a day after the world’s largest exchange signed a non-binding agreement to acquire its most formidable rival firm.
Zhao said the sudden liquidity crunch at FTX will attract greater scrutiny of crypto exchanges from regulators. “Licenses around the globe will be harder to get. And people now think we are the biggest and will attack us more,” he said in a note to employees Wednesday, before publicly tweeting it. Read More
Tampa Mayor Jane Castor kicked off Friday's summit by reaffirming her hopes that Tampa Bay can become a national leader in the industry. Photos by Mark Parker.
A bear market didn’t dampen the mood at the Florida Bitcoin & Blockchain Summit (FBBS), as its myriad of speakers focused on new achievements rather than price fluctuations.
Friday’s summit was a decidedly scaled-down version of the inaugural Tampa event, held at Amalie Arena last November. Chris Krimitsos, founder of the FBBS, expressed his sincere excitement to see everyone filling the Holiday Inn Westshore’s conference room, as the occasion was about the people that continue to believe in the new technology’s applications rather than a venue.
Tampa Mayor Jane Castor kicked off the event by once again welcoming attendees to the city. While she didn’t offer to accept a portion of her salary in bitcoin as she did at last year’s summit, she did reaffirm her belief in the security of blockchain technology and the financial equity provided by the apex cryptocurrency. Read More
Bitcoin pared declines on Thursday: Ether also climbed
Data showing inflation cooling boosted crypto, broader markets
Cryptocurrencies stabilized after Wednesday’s plunge, regaining some of the losses fueled by Binance Holding Ltd.’s withdrawal of its offer to buy FTX.com.
Bitcoin rose as much as 14% to around $17,904, paring declines as data on Thursday showed US inflation cooled in October by more than forecast. The largest token by market value had already clawed back some of those losses before CPI data came out. It had dropped as low as $15,574 on Wednesday, to a level unseen since November 2020. Read More
Analytical Data
Bitcoin Magazine
Binance discloses a balance in their hot and cold wallets of:
BTC: 475,000
BNB: 58 million
ETH: 4.8 million
USDT: 17.6 billion
BUSD: 21.7 billion
USDC: 601 million
Over $200 billion was wiped out from the global #cryptocurrency market in the past 48 hours.
Florida Politics
The blowout win by Gov. Ron DeSantis likely ends Charlie Crist's political career. Marco Rubio cruised to a third term in the U.S. Senate over Val Demings. Cabinet races were so uncontested that Democratic candidates might as well have been in witness protection.
Nearly everywhere you looked, Republicans were holding victory parties. Anna Paulina Luna beat Democrat Eric Lynn in CD 13, Crist’s old district. And Laurel Lee routed Democrat Alan Cohn in CD 15. Their congressional candidates benefited from gerrymandered district lines drawn by DeSantis, but Democrats shouldn't cling to that as an excuse for the bashing they received.
From Pensacola to Miami, voters sent an unmistakable message that they aren't buying what Democrats are selling.
Some pundits might want to mark this election as the night Florida officially turned a deep shade of red, but the transformation has been happening for years. Democrats missed the memo.
Once considered solidly blue, Hispanic voters flipped to Republicans in a big way. To answer why that is, refer to the previous paragraph: They don't care about the same things Democrats do.
That's a growing trend with Black voters, too.
They want a strong economy, good jobs and security. Democrats never shook the label as a party more interested in social issues than the ones families confront with every trip to the grocery stores and when the rent is due.
It's fine to support abortion protection, LGBTQ+ rights and other culture issues. But when voters perceive that's all you care about, they choose the other candidate.
The irony is that DeSantis became an icon of right-wing politics with his culture wars. But you didn't hear much about that from the Governor when the campaign began. It was all about Florida's freedom and protecting jobs.
Instead of critical race theory, DeSantis focused his fire on President Joe Biden and the economy.
Crist, to his credit, embraced Biden and tried to explain why Republicans had misrepresented the President's policies. By then, though, it was too late.
And as Florida grows redder by the day, that’s unlikely to change any time soon.
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