It's Tune-in Tuesdays!

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Jennifer Matthews
July 22, 2025

Today, Akon’s futuristic project has lost its swing, but let’s start with how luxury spending is doing the same thing…

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Culture Still Wants Luxury But It's Losing Buyers

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Luxury has always sold aspiration, but these days, aspiration looks a lot more like a $500 canvas bag than a $5,000 statement piece. As U.S. spending on luxury goods fell 6% year-over-year in 2024, the old playbook of exclusivity and extravagance is cracking under pressure. Brands like Gucci and Louis Vuitton (LVMH +1.54%) have responded by releasing more “accessible” items from crossbody bags, logo belts to perfume sets all priced just under the psychological $500 mark.  

Akon’s Billion Dollar Blockchain City Is No More

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It's lights out for Akon or 'Akoin' after five years in the making. The high-profile endeavor, known as Akon City, aimed to create a crypto-themed smart city with innovative features such as blockchain-based infrastructure and a digital currency economy worth $6 billion has been terminated. The decision to officially terminate the project comes after delays and a misalignment in realistic development goals in the region.  

What Shaquille O’Neal’s FTX Lawsuit Settlement Means for Your Crypto Portfolio

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Shaquille O’Neal may have dominated on the basketball court, but his off-court moves in crypto haven’t aged quite as gracefully. The NBA Hall of Famer recently agreed to a $1.8 million settlement in a class action lawsuit over his role promoting FTX, the now-defunct cryptocurrency exchange. O’Neal, along with high-profile celebrities including Steph Curry, Tom Brady and others, were caught in the crosshairs when the $32 billion company collapsed, according to Bloomberg. As celebrity-backed crypto ventures fall under sharper scrutiny, the FTX fallout has become a cautionary tale with deep cultural implications, especially for vulnerable communities often targeted by influencer marketing.  

Tune-in Tuesdays!

The U.S. will soon charge a $250 ‘visa integrity fee’ to international visitors. Is this border control or brand control?

A. “Rich Bitch” by Gunna – The U.S. is curating its guest list with pride, power, and paranoia, and the dress code is wealth
B. “My House” by Beyoncé – The so-called land of opportunity is rewriting its welcome mat. The fee may be new, but the message isn’t: this house wasn’t built for everyone
C. “Alright” by Kendrick Lamar – For some, $250 may be a speed bump but the dream is still alive because they have nothing to hide and willing to cough a little extra

What are your thoughts on this? Tune in next Tuesday to see which jam captures the prevailing sentiment!

A  |  B  |  C

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Last week’s results are in and people think Bitcoin’s surge is a ‘Started From the Bottom’ story

Art Meets Private Equity: Family Offices Reimagine Wealth Management

CBX Vibe:

Family offices already caught the attention of high-net worth individuals and now they're taking it up a notch higher to diversify their investment portfolios. Away from the traditional assets and stocks, more people are warming up to arts and collectibles as alternative investments. With 40% of Americans already actively hoarding their collectibles, it is a booming industry that cannot afford to be ignored.   

New Tariffs Put $219 Billion U.S. Auto Import Industry at Risk

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Tariffs are back in the news, and that has both American car buyers and automakers watching closely. In 2024, the U.S. imported $219.5 billion in passenger vehicles, up about 4.4% from the year before. As lawmakers weigh new duties on foreign-made cars and parts, the effects could hit hard, especially in top auto-importing states like Michigan, California, and Texas. Just five countries supply over 83% of all U.S. car imports by value. Mexico leads with $50 billion in exports, or nearly 23% of the total, thanks to its proximity and favorable NAFTA/USMCA terms. These numbers show how tightly the U.S. auto market is tied to a few key partners, making it highly sensitive to trade shifts.   

Vibes of the Week

Luxury is not holding its power “Perfectly" as it loses buyers. FKA Twigs expounds in our CBX Vibes!