CBX Daily 12/14/2023

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CultureBanx Team
December 14, 2023

Today Coinbase is surging to new crypto heights, but let’s start with how inherited wealth is taking away from the entrepreneurial spotlight…

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Entrepreneurship To Inheritance: The Changing Face of U.S. Billionaire Wealth

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With the ever-evolving landscape of wealth amassment, we're witnessing a significant shift from entrepreneurial billionaires to those inheriting wealth. The number of global billionaires has seen a 7% increase, totaling 2,544 individuals, according to a report from Swiss bank UBS. Their combined wealth has also risen by 9%, approximating a colossal $12 trillion. The impact of this change on Black wealth is an intriguing subject that deserves thorough exploration.

Unleashing Economic Power In The Untapped Potential of Cryptocurrency for Black Americans

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In the realm of finance, where the game has traditionally been rigged against, Black Americans are trying to make their mark with the rise of cryptocurrency. Specifically, leveraging platforms like Coinbase as shares surged 62% in November, marking one of their best months since the company's Nasdaq debut in 2021. However, this meteoric rise in the crypto market isn't just about financial numbers; it represents a potential avenue for Black wealth-building that has long been stifled.

Black Innovation’s Frontline: BrickRose Exchange Is Leveraging Art, The Metaverse, And Web3 For Unforgettable Live Experiences

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In the new era of digital immersion, the rise of the metaverse and web3 technologies have sparked a revolution in how we interact with digital and in-person spaces. This is where BrickRose Exchange, founded by Bianca Jackson comes into play as her company is bridging these new technologies to create unforgettable live experiences in a sector that’s expected to reach $2.1 billion by 2028. As these advancements continue to reshape the landscape, businesses and artists alike are discovering innovative ways to leverage these tools for bringing immersive and unforgettable live experiences to the forefront.

Deep Breath: Unpacking The Cost of Environmental Pollution In Black Communities

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The Biden administration has earmarked a staggering $2 billion for its largest-ever environmental justice initiative, aimed at cleaning up pollution and fostering clean energy development in marginalized communities. This initiative responds to the stark realities of environmental racism and the disproportionate impact of pollution on Black neighborhoods. It’s not just about monetary investments; it's about rectifying historical wrongs, ensuring equitable access to a clean and safe environment for all, and one day being able to take a breath of fresh air.

Diverse Suppliers Could Add $280 Billion To The U.S. Economy

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The U.S. economy is being called to task regarding the very top of mind subject of diversity, specifically when it comes to suppliers and vendors that could add $280 billion in extra income and four million jobs. A new McKinsey report “Expand diversity among your suppliers and add value to your organization” found that the U.S. could reach these figures if spending with minorities and women increased.

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