CBX Daily 5/13/2024

Author

CultureBanx Team
May 13, 2024

Today balancing bucks and brain power reveal the true price of knowledge, but let’s start with how blockchain brawls are ending up in legal pledges…

Now Playing:

Cultural Intelligence Download

Former FTX CEO Now Cooperating In $11 Billion Crypto Lawsuit Against Steph Curry, Shaquille O’Neal & Others

CBX Vibe

The $32 billion collapse of cryptocurrency exchange FTX has caught a couple of current and former athletes in its crosshairs. Now, FTX founder Sam Bankman Fried has agreed to cooperate in the $11 billion class action lawsuit against Shaquille O’Neal, Steph Curry, Tom Brady and others investors, according to Bloomberg. This begs the question; should these sports celebrities who brought instant credibility to FTX, be held just as culpable as the company’s itself?

Weighing The Financial And Mental Costs Of Higher Education

CBX Vibe:

The financial weight of higher education is mentally draining Black Americans with student loan debt. A recent survey conducted by ELVTR, revealed that 54% of respondents said their mental health struggles are directly related to student loan debt. Nearly two-thirds of those polled can barely afford or can’t afford their loan payments at all, with minorities like Black borrowers facing the most debt.  The financial strain, emotional burden and mental distress of student loan debt begs the question, is it all worth it?

There's A Blockbuster Blind Spot And It's Worth $30 Billion

CBX Vibe:

For years, Hollywood has thrown in the same films on our screens deliberately or subconsciously ignoring other diverse cultures. Hollywood on its own makes bank. For instance, in 2023, the global box office generated $33 billion in revenue. And even though it does generate a significant amount of revenue, there is a gap in the market. This blind spot arises from the failure of Hollywood to adequately engage and represent diverse communities, resulting in substantial financial losses.

Can Lease-To-Own Housing Programs Increase Black Wealth?

CBX Vibe:

Homeownership is an important step to bridging the racial wealth divide. If Black homeownership matched white homeownership, Black wealth would increase by almost $40,000, bridging racial wealth inequality by about 30%. With current mortgage rates the highest they have been since 2008, and the number of homes for sale nationally plummeting, an alternative path to homeownership may be leasing to own your future home.

How Johnson & Johnson's $6.475 Billion Talc Settlement Impacts Black Women

CBX Vibe:

Pharmaceutical giant Johnson & Johnson (JNJ -0.44%) is set to pay $6.475 billion to settle lawsuits alleging its talc-based products, often associated with health concerns, caused cancer. This unprecedented agreement covers around 60,000 cases, marking a significant moment in the intersections of public health and corporate accountability. For Black women, who were selected by J&J as “the right place” to sell more baby powder to, specifically targeting  “under-developed geographical areas,” this is perhaps an opportunity for financial reciprocity.

Vibes of the Week

“Stickin and Movin” through these lawsuits. NLE Choppa opening up our week with some heavy bars. Get into it in our CBX Vibes!