CBX Daily 7/8/2024

Author

Kori Hale
July 08, 2024

Today Black communities are thriving with a Bitcoin buzz, but let’s start with how Black women use culture to fuel black businesses…

Cultural Intelligence Download

Top Women Leveraging Cultural Currency To Spur Black Entrepreneurship

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In the vibrant tapestry of modern entrepreneurship, Black entrepreneurs stand out and are leveraging their cultural currency, a critical yet often overlooked asset that powers not only the engines of individual businesses but also the broader ecosystem of minority-led innovation. Although overall funding to Black-founded startups dropped a staggering 71% last year, Zeal Capital Partners is continuing to invest in game changing entrepreneurs like Fifi Kara, CEO of Aster, an all in one women’s health management platform, to carve unique pathways through the realms of financing, innovation, and representation.

Bitcoin Boom In Black Communities Could Bust Banking Institutions

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After 100 years of systematic racism, fewer African- Americans are investing in stocks, instead turning to the profitable benefits of cryptocurrency and its decentralized model to bring in the big bucks. With 1 in 3 African American investors owning cryptocurrencies compared to 17% of white investors, digital coins, blockchains and NFTs (non fungible tokens) are experiencing exponential growth due to a severe lack of trust in legacy firms. Black Millennials, Gen Z, and teen digital natives changing the financial landscape are turning to online and social media channels to grow their own wealth; leaving traditional banking institutions in their wake. This begs the question, are banks redundant for the Black community?

Is Blockchain Important To The Future of Agriculture?

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Agriculture has grown into a multi-trillion dollar industry. However, there are many challenges currently facing the sector and food security remains a global issue with the global blockchain in agriculture and food supply chain market size is projected to reach $948 million by 2025. How big could the impact of blockchain become in overcoming the mounting problems and shaping the future of agriculture?

What's Next For Artists & Collectors After Gallery Closures?

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Gagosiar, Simon Lee, Betty Cuningham are just some of the art galleries that have taken a hit and sunset their services. The closure of art galleries has had a significant impact on artists and collectors alike, with both groups now having to navigate new challenges in the industry. The art industry has been taking a hit notably falling 4% to lows of $65 billion which has been the lowest in the last three years.

The Highs & Lows Of Luxury As Kering’s Gucci Falls While Others Soar

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Kering (KER.PA -3.13%) , the French luxury group that owns Gucci, Yves Saint Laurent, Bottega Veneta, Balenciaga, and other luxury brands, warned that first-quarter revenues are expected to decline 10% from last year’s $5.5. billion. The announcement is rare for Kering, number two in the global luxury market. The conglomerate projects its flagship brand, Gucci, to be off nearly 20%, down from $2.8 billion.  

Vibes of the Week

It’s all about “Powerful Women” on this side making big moves. Pitbull and Dolly Parton know wassup. Get into it in our CBX Vibes!