Pump anxiety intensifies… Biden asked the FTC to look into whether oil powerhouses have been illegally boosting gas prices, which have soared 60% from last year. It’s part of Biden’s anti-monopoly push, which also targets other industries, but experts doubt the FTC will find evidence to blame gas giants. The president has asked OPEC to increase oil production to ease shortages as the global economy revs up — so far OPEC has said “nah.” The Biden admin is running out of options to lower gas prices ahead of winter, when most American homes will rely on gas for heat.
Big Apple meets blockchain... NYC will be the second US city after Miami to get its own crypto: NYCCoin. Gotham will keep 30% of each NYCCoin that’s mined to support city initiatives, while users keep the rest. Users can trade NYCCoin or use it to mint NFTs or build blockchain-based apps. MiamiCoin has already earned the city $21M+, which it plans to spend on crypto education, underprivileged communities, and green initiatives. “City coins” could be the next step in crypto mainstreamification. Austin also has one in the works.