What’s To Become of Miami’s “Crypto Hub” Status? | Bloomberg Crypto

Miami has always been famous for its beaches, beautiful people and glamorous nightlife. More recently, the city grabbed attention for trying to establish itself as a crypto hub, and witnessed an influx of crypto startups as entrepreneurs flocked to its palm tree-lined streets. They were attracted by both Miami’s charismatic, crypto-friendly mayor Frances Suarez and the promise of lower taxes.

And then of course… there’s FTX. The now-bankrupt crypto exchange had the naming rights to the basketball arena for the Miami Heat. And just about a month before its stunning collapse, the exchange had plans to move one of its top branches to the heart of the city's financial center.

In the aftermath, and with overall negative sentiment in crypto markets, the city has faced tough questions about its part in the digital asset industry’s future.

Bloomberg reporter Carly Wanna () was recently down in Miami and she joins Vildana Hajric ()in this episode to break down how the tropical city is adapting to the recent crypto crisis.

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Crypto is the world's hottest financial trend. Digital tokens like Bitcoin and NFTs have moved from niche products to showing up in Super Bowl commercials and song lyrics. Advocates of these new asset classes promise they will democratize the finance industry, and they hail the blockchain technology that backs it all as the future of computing. Skeptics say it's another financial house of cards. No newsroom on the planet is better equipped than Bloomberg to cut through all the noise and provide clarity, context and authority.

In this new daily podcast, Bloomberg’s reporting team will tease out what’s actually important in the crypto conversation. Led by crypto expert Stacy-Marie Ishmael, the podcast will draw on reporters in every region and credible voices in the industry to cover everything from regulation to alt coins to DeFi, and even the environmental impact of the currency that promises to change the finance landscape indefinitely.

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