Miami and New York Fighting to Become the Crypto Financial Capital

Larry Lease

https://img.particlenews.com/image.php?url=1xvvgF_0dW2T59K00
Miami and New York are fighting to become the headquarters for the growing crypto industry.Ryan Parker/Unsplash

Blockchain.com announced it was looking for a new home for its American headquarters and uprooted itself from New York and relocated to downtown Miami. Blockchain CEO Peter Smith says while New York is a great city but Miami was easy to settle on.

Miami is a city with warm weather and vibrant nightlife, while that is a strong attraction for business, Smith said the decision came down to Miami being better aligned with his business's goals. Smith says it's a gateway to Latin America, on the East Coast time zone and it's become one of the most exciting cities in the world about cryptocurrencies.

Digital currencies like bitcoin and dogecoin are becoming the future of finance and Miami is fighting to become the crypto capital of the world. This is all a serious threat to New York's reputation as the nation's financial hub, a serious threat to New York's dominance in the financial market.

Miami Mayor Francis Suarez has raised the city's crypto-currency profile. During his first term, Suarez has accepted Bitcoin and blockchain and the technology for all that it is. He has become the first mayor to take his 401k savings in Bitcoin. Miami now has its own digital currency, called MiamiCoin and in 2020, it hosted what has become one of the world's largest cryptocurrency conferences.

Crypto has become an important part of the future of Miami and its future as the financial hub of the country. What also drew Smith to Miami was the cost of living is lower and the reduction in real estate taxes. It also offers more space for development than New York.

Other cryptocurrency companies FTX US, eToro, and Bit Digital have also announced plans to grow in Miami. Miami has also drawn more traditional financial firms. Miami's recent successes have drawn concern from New York City's mayor-elect, Eric Adams responded to Miami's latest news by tweeting out that NYC will be the center of the digital currency industry.

While Smith prefers Miami in the long run, he does acknowledge that New York has all the tools, it's a matter of putting it together and reaching out to investors and others.

Read full story in "NewsBreak" App
# bitcoin# crypto currency# Miami crypto

Comments / 0

Published by

I specialize in crime, entertainment and political stories. I have spent eight years as a freelance writer and journalist.

Dallas, TX
16K followers

More from Larry Lease

Unidentified Aerial Phenomena: Top US Spy Agency Reveals 366 New Reports of Bizarre Aerial Activity

The Office of Director of National Intelligence (ODNI) has reported that 366 new cases of unidentified aerial phenomena (UAP) have been reported to U.S. intelligence agencies since March 2021. NBC 5 reports this brings the total number of reported cases to 510, with 144 cases documented over the previous 17 years. The majority of the reports came from U.S. Navy and U.S. Air Force aviators and operators who witnessed the UAPs during their service duties.

Read full story
187 comments
Dallas, TX

Raise a Glass to the Rise of Mocktails: The Trend Taking Over Bars and Restaurants

As Dry January continues, more and more people are turning to mocktails as a way to still enjoy a drink without alcohol. Bars and restaurants are now offering zero-proof, non-alcoholic spirits on their menus, and the trend is catching on. According to Nielsen IQ, non-alcoholic drink sales stood at $395 million nationwide between August 2021 and 2022, showing a year-on-year growth of over 20%.

Read full story
277 comments
Los Angeles, CA

Iconic Singer-Songwriter Lisa Marie Presley Passes Away at Hospital in Los Angeles

Lisa Marie Presley, daughter of the late Elvis Presley, has died at a Los Angeles area hospital. Fox 4 reports her mother, Priscilla Presley, confirmed the news in a statement on social media. Los Angeles County paramedics were dispatched to a Calabasas home on Thursday morning following a report of a woman in full cardiac arrest.

Read full story
9 comments
Buffalo, NY

Congressman Colin Allred Honors Damar Hamlin's Recovery on House Floor

North Texas congressman and former NFL player, Colin Allred, took to the U.S. House floor to recognize and celebrate the ongoing recovery of Buffalo Bills safety, Damar Hamlin, who collapsed and went into cardiac arrest during a game on January 2. WFAA reports Hamlin was hospitalized in Cincinnati for a week and then returned to Buffalo for several more days before being released. Allred, who is from Dallas County, was joined by fellow congressman and former NFL player, Burgess Owens, in recognizing Hamlin's inspiring story on the House floor.

Read full story
3 comments
Wilmington, DE

Special Counsel Appointed to Investigate Classified Documents Found at President Biden's Home and Office

The US Attorney General, Merrick Garland, has appointed a special counsel to investigate the presence of classified documents found at President Joe Biden's home in Wilmington, Delaware, and at his former office in Washington. This follows the discovery of a classified document with markings from his time as Vice President in Biden's personal library, along with other classified documents found in his garage.

Read full story
1 comments
Fort Worth, TX

Fort Worth Police Detective Arrested for DUI: Department Launches Investigation

Fort Worth Police Department detective, Tanner Martin, was arrested while off-duty on a driving while intoxicated charge. The Benbrook Police Department made the arrest. Fox 4 reports that in light of the arrest, an administrative investigation has been opened by Fort Worth PD. As a result, Martin has been placed on restricted duty and had his police powers suspended until the investigation is completed. No additional information about the case has been released.

Read full story
1 comments
Dallas, TX

City of Dallas sued over ordinance banning panhandling on medians, accused of violating free speech

The city of Dallas is facing a lawsuit over a recently-passed ordinance that bans people from walking or standing on medians to ask for money. WFAA reports the ordinance was passed in October 2022, by the Dallas City Council with a 14-1 vote and it bans people from asking for money in certain areas of the city. This ordinance also allows city marshals to give out citations to pedestrians who violate the first ordinance, and fines for panhandling in these situations could go up to $500.

Read full story
7 comments
Las Vegas, NV

Universal brings new thrills to North Texas and Las Vegas with upcoming theme parks

Universal Parks & Resorts announced plans to build two new theme parks, one in North Texas and another in Las Vegas. The park in North Texas will be a family-focused theme park and resort hotel, located off the Dallas North Tollway, which will provide entertainment for families for years to come.

Read full story
Plano, TX

Last minute claim: North Texas resident takes home $1 million from Mega Millions

A Mega Millions prize winner from North Texas came forward just days before the expiration date to claim their $1 million prize. Fox 4 reports the winning ticket, which matched five numbers but not the Mega Ball, was purchased in July at a convenience store in Plano. The winner, who wishes to remain anonymous, had until January 26th to claim the money. The next Mega Millions drawing will take place on Tuesday night, with a jackpot of $1.1 billion and odds of winning at 1 in 303 million.

Read full story
1 comments
Dallas, TX

Dining Goodbye: Dallas Restaurants Struggle to Survive Pandemic Closures

The Dallas dining scene has recently seen a number of closures, with Seasons 52, Sugarfire Smokehouse, Sweetgreen, Tiki Loco, and Nuri Grill all shutting their doors for various reasons. Eater reports, Seasons 52, known for its low-calorie menu, closed its doors as the landlord of the mall decided not to renew the chain’s lease. Sugarfire Smokehouse closed due to its inability to make the business run, while Sweetgreen closed its location in Deep Ellum after opening new locations in other cities. Tiki Loco closed due to the impact of the pandemic, decreasing foot traffic in the neighborhood, and rising costs. Nuri Grill announced that it would close by the end of 2022 but a new steakhouse under the same name would open in Uptown in late summer 2023.

Read full story
2 comments
Dallas County, TX

Dallas County Makes Changes to Pretrial Release Program to Ease Jail Overcrowding and Release Low-Risk Inmates

The Dallas County commissioners have voted to modify the county's pretrial release program with the aim of releasing more inmates who pose no safety risk while they await trial. Fox 4 reports this move is part of an effort to reduce jail overcrowding, which has been exacerbated by the ongoing pandemic. Under the new policy, low-risk inmates will only need to provide one reference in order to be eligible for pre-trial release, instead of the previous requirement of two. This decision was made as a cost-saving measure, as it costs $67 per day to house an inmate in the Dallas County jail.

Read full story
Fort Worth, TX

Fort Worth City Council Will Continue to Deliberate Future of Juvenile Curfew in Fort Worth

The Fort Worth City Council has temporarily extended a curfew for people under 17 years old, but will wait to make a final decision. Fox 4 reports the curfew, which requires children in Fort Worth to be accompanied by an adult if they are out late, had been set to expire on Saturday. As per the ordinance, juveniles under 17 cannot be out alone between the hours of 11 p.m. and 6 a.m. from Sunday through Thursday and between midnight and 6 a.m. on Fridays and Saturdays. This ordinance has been in place since 1994, but a state statute requires the council to review and vote on it every three years.

Read full story
1 comments

FAA Resumes Normal Air Traffic Operations Gradually Following Nationwide System Outage

The Federal Aviation Administration (FAA) announced on Wednesday that normal air traffic operations were resuming gradually in the United States after a nationwide system outage. Fox 4 reports the FAA said that the temporary grounding of all U.S. flight departures had been lifted, however, the number of domestic flight delays and cancellations continued to grow. The FAA stated that the cause of the initial problem is still being investigated.

Read full story
3 comments
Dallas, TX

Rising Auto Thefts in Dallas: A Growing Problem with Real-Life Consequences for Citizens

In 2022, Dallas city officials reported a decrease in violent crime, however, non-violent crimes such as auto thefts have risen significantly. According to the Dallas Police Department, there were 13,356 motor vehicle thefts in 2022 alone, a 12% increase from the previous year. The causes for this spike in auto thefts are attributed to both technological advancements that aid criminals and the economic effects of the pandemic leading to higher vehicle demand.

Read full story
6 comments
Fort Worth, TX

Honoring Atatiana Jefferson's Legacy: Fort Worth Recreation Center Gets Renamed

The Fort Worth City Council has unanimously approved the renaming of a recreational center after Atatiana Jefferson, who was shot and killed by a former police officer in 2019. Fox 4 reports the council voted to change the name of the Hillside Community Center to the Atatiana Carr Jefferson Community Center, which is located near her mother's home.

Read full story
2 comments
Dallas, TX

Suspect in Stolen Porsche Arrested Following High-Speed Chase and Attempted Carjacking in Dallas

The incident began when the Texas Department of Public Safety received a call about a suspect in a stolen Porsche. They immediately alerted the Dallas County Sheriff's Office, who in turn deployed a police helicopter to track the vehicle. Fox 4 reports that the driver, later identified as 31-year-old Tyler Charles Payne, had stolen the Porsche in Dallas and was wanted for carjacking a woman in Frisco.

Read full story
2 comments

Southwest Airlines Promotes Executives to Improve Operations and Avoid Future Flight Cancellations

Southwest Airlines has announced a series of executive promotions but no terminations despite thousands of flights being canceled in December. NBC 5 reports the Dallas-based airline has promoted five executives, with no changes made to the highest-ranking positions. According to the company, the restructuring aims to enhance operations by bringing schedule design and execution closer together. The airline's spokesperson stated that no one has been demoted or left the company in relation to these promotions.

Read full story
7 comments

Mega Millions Jackpot Reaches Record-Breaking $1 Billion: Your Chance to Become a Billionaire in Just One Draw!

The Mega Millions lottery drawing on Tuesday has reached a record-breaking jackpot of over $1 billion, making it the third-largest prize in the game's history and the fifth-largest in U.S. lottery history. This has led to a surge in ticket sales.

Read full story
88 comments
Fort Worth, TX

Fort Worth City Council debates extending teen curfew: Will it keep minors safe or limit their freedom

The Fort Worth City Council is considering extending teen curfew legislation. Residents will have another opportunity to weigh in on the topic. Fox 4 reports that if minors are out late in Fort Worth, they must be accompanied by an adult. Juveniles under the age of 17 are not permitted to be out on their own between 11 p.m. and 6 a.m. Sunday through Thursday, or between midnight and 6 a.m. on Fridays and Saturdays.

Read full story
6 comments
Ferris, TX

Tragedy Strikes: City Attorney Arrested for Killing Father and Son in High-Speed Hit-and-Run

City attorney Michael Halla has been arrested and charged with two counts of manslaughter following a fatal car accident that occurred in Ferris, Texas in November 2021. Fox 4 reports the accident, which involved a father and son, the Beltrans, who were struck and killed while walking home from playing basketball. Ferris City Manager Brooks Williams announced that the city has decided to suspend its contract with Halla, pending the outcome of the legal proceedings.

Read full story
13 comments

Comments / 0

Community Policy