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Miami Mayor working with MiamiCoin operator on ‘glitches’

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Miami Mayor working with MiamiCoin operator on ‘glitches’


DAVOS, Switzerland, Might 23 (Reuters) – Miami’s mayor Francis Suarez says he’s working with the operator of the U.S. metropolis’s digital foreign money to resolve glitches after it crashed in worth this month.

MiamiCoin was billed as a doable method to increase the town’s income and scale back taxes, whereas serving to to place Miami on the map amongst know-how entrepreneurs throughout a cryptocurrency growth.

However when cryptocurrencies shed some $800 million in worth in complete earlier this month, leaving the eighth-largest coin Luna just about nugatory, MiamiCoin was additionally hit. Suarez stated that Miami has $15 million in its digital pockets, and used $5 million to assist stabilize hovering rents.

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CityCoins, which makes MiamiCoin in addition to cash for New York Metropolis and Austin, Texas, didn’t instantly reply to an emailed request for touch upon what motion it was taking.

Suarez instructed Reuters on the sidelines of the World Financial Discussion board (WEF) in Davos on Monday that with 3.65 billion MiamiCoins issued, its so-called tokenomics have been initially “approach too inflationary”.

“I will see in the event that they (CityCoins) can repair the glitches they’ve,” Suarez stated, including: “They’re within the means of making an attempt to rebalance it.”

Blockchain and cryptocurrency corporations have a big presence on the primary promenade in Davos, however they make up a small a part of the official occasion, geared to the monetary elite. learn extra

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Cryptocurrencies are a “know-how that goes by means of iterations”, Suarez stated, including: “The preliminary one was profitable adopted by some speedbumps”.

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Reporting by Jessica DiNapoli in Davos; Modifying by Alexander Smith

Our Requirements: The Thomson Reuters Belief Ideas.

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Miami, FL

Designs revealed for Miami-inspired city in the Middle East

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Designs revealed for Miami-inspired city in the Middle East


A masterplan has been unveiled for a coastal neighborhood in Bahrain which is partly inspired by the U.S. city of Miami.

Bilaj Al Jazayer Beach will span just over two miles of length along Bahrain’s coastline. According to an official release, the mixed-use district will draw inspiration from Miami’s low-rise Art Deco buildings combined with traditional local design.

The walkable locale will feature new homes, hotels, and retail options in addition to public green spaces and “state-of-the-art” amenities.

The city is designed around three main streets, which will be lined with native trees and are intended to encourage walking and cycling across the district.

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In this rendering, a vehicle drives down a street reminiscent of those in Miami. Miami’s low-rise Art Deco buildings were part of the inspiration behind the waterfront neighborhood.

Foster + Partners

The site will be flanked by two large hotels, with smaller, boutique hotels positioned at 500-meter intervals throughout, and residential communities nestled in between.

Neighborhoods will incorporate shaded green courtyards and alleyways that the city’s designers say are inspired by Bahrain’s traditional design principles to create cool outdoor spaces.

Bahrain Miami overview
An overview of Bilaj Al Jazayer Beach. It could span just over two miles along Bahrain’s coastline.

Foster + Partners

At the heart of the development will lie a public surf park, featuring wave-generation technology to simulate the experience of a natural ocean environment on land.

The beach links to a network of piers stretching into the sea, forming protective coves to safeguard the shoreline, and a green park will serve to separate the beachfront from the main road.

BM overview 2
A second overhead of the beachfront development. The beach links to a network of piers stretching into the sea, forming protective coves to safeguard the shoreline.

Foster + Partners

“We are creating a green and walkable community on the beach, which offers a range of crafted experiences for residents and visitors,” said Gerard Evenden, head of Studio ar Foster + Partners, the firm behind the designs.

“The permeable development features tree-lined streets, shaded courtyards, and a spectacular public park that directly connects with the waterfront. Needless to say, the west-facing district will also offer some of the best sunset views in Bahrain,” Evenden added.

Newsweek has contacted Foster + Partners for comment via email form.

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BM sun low
In this rendering, the neighborhood’s streets are lit as the sun sits low in the sky. The city is designed around three main streets, which will be lined with native trees and are intended to…


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Bahrain, officially the Kingdom of Bahrain, is a small island nation in the Persian Gulf, situated between Saudi Arabia and Qatar.

With a population of around 1.5 million, its economy primarily relies on oil, financial services, and tourism.

In neighboring Saudi Arabia, the first project for the country’s Neom megacity recently opened.

Known as Sindalah, the opening of the “luxury island destination” represented a significant milestone for the project, which has become the world’s biggest construction site as part of an effort by Saudi Crown Prince Mohammed bin Salman to diversify the nation’s economy.

However, a recent report from human rights organization ALQST warned that companies working with the biggest construction projects in Saudi Arabia, which includes several American firms, run the risk of “political and reputational risks” as the projects face allegations of dangerous conditions and abuse of migrant workers.

The report came amid allegations that thousands of migrant construction workers have died or gone missing since 2017.

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Miami, FL

Triple shooting in NW Miami-Dade under investigation

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Triple shooting in NW Miami-Dade under investigation


Triple shooting in NW Miami-Dade under investigation – CBS Miami

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Miami-Dade police are investigating a triple shooting that injured three people Thursday night in Northwest Miami-Dade.

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Miami-Dade prison inmate sets his cell on fire, investigators say

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Miami-Dade prison inmate sets his cell on fire, investigators say


MIAMI – Florida Department of Corrections officers recently asked Bureau of Fire, Arson & Explosives Investigations detectives to figure out how a 26-year-old prison inmate set his cell on fire.

Correctional officers accused Jeronimo Rosario of setting the fire shortly after 11:05 a.m., on Wednesday inside his locked prison cell at the Dade Correctional Institution.

BFAEI detectives reported Rosario likely removed the protective plexiglass cover from his cell’s light fixture, accessed the electric wires, and burned cloth from a towel.

FDOC records show Rosario has been in prison since March 1, 2023 after convictions of grand theft vehicle, fleeing and eluding police, and battery on police/fire.

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Before the fire, Rosario was set to be released from prison on Feb. 2. On Thursday, he was facing charges of preventing or obstructing extinguishing a fire and lewd or lascivious exhibition at a correctional facility.

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