El Salvador’s ‘Bitcoin President’ Pressured, Accused of Attacking Civil Liberties

The International Monetary Fund “has indicated it will not give El Salvador a much-needed loan unless it drops bitcoin” as one of the country’s legal tenders, reports the Los Angeles Times. And meanwhile the “bitcoin bond” proposed by El Salvador has been “delayed indefinitely.”

But the government has taken other actions:

After a dramatic spike in killings here over a single weekend last month, Salvadoran President Nayib Bukele’s reaction was swift — and extreme. He sent soldiers into poor neighborhoods to round up thousands of people who he claimed were gang members, then paraded them in front of news cameras in their underwear and handcuffs.
He tweeted pictures of detainees who had been bruised and bloodied by security forces, suggesting they “maybe fell” or “were eating fries with ketchup.” And he started feeding the nation’s prisoners two meals a day instead of three, warning that if violence continued, “I swear to God that they won’t eat a single grain of rice.”

It is a distinct look for Bukele, who has been focused in recent months on presenting himself to the world as a modern tech innovator on a quest to turn El Salvador into a cryptocurrency paradise. Not only is Bukele now embracing the mano duro techniques of past Latin American leaders, he is going much further, using the homicide spree — which left 87 people dead in three days — as a pretext for suspending civil liberties and attacking the press.

In recent days, Bukele and his loyalists in the Legislative Assembly ordered a state of emergency that restricts freedom of association, suspends the norm that detainees be informed of their rights at the moment of arrest and denies prisoners access to lawyers….

That Bukele would use the spate of homicides as a pretext to further consolidate power is no surprise to many of his critics, who believe he may be preparing to stay in office past 2024, when he is supposed to step down, even though El Salvador’s constitution bans consecutive presidential terms.

But they also say that there may be another motive for his new tough-on-crime stance: diverting attention from the deepening failure of his cryptocurrency experiment.

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In California, an Army of Genetically Engineered Mosquitoes Awaits Release

The U.S. government recently gave California approval to release millions of genetically engineered mosquitoes bred by British biotech company Oxitec, reports the Los Angeles Times:

Oxitec, a private company, says its genetically modified bugs could help save half the world’s population from the invasive Aedes aegypti mosquito, which can spread diseases such as yellow fever, chikungunya and dengue to humans. Female offspring produced by these modified insects will die, according to Oxitec’s plan, causing the population to collapse. “Precise. Environmentally sustainable. Non-toxic,” the company says on its website of its product trademarked as the “Friendly” mosquito.

Scientists independent from the company and critical of the proposal say not so fast. They say unleashing the experimental creatures into nature has risks that haven’t yet been fully studied, including possible harm to other species or unexpectedly making the local mosquito population harder to control….

Nathan Rose, Oxitec’s head of regulatory affairs, noted that the company found its mosquito reduced the population in a Brazilian neighborhood by 95% in just 13 weeks. So far, Oxitec has released little of its data from that experiment or from a more recent release in the Florida Keys. It hasn’t yet published any of those results in a peer-reviewed scientific journal — publications that scientists expect when evaluating a new drug or technology….

Among scientists’ concerns is that releasing the genetically modified mosquitoes into neighborhoods could create hybrids that are hardier and more dangerous to humans than the state’s current population…. An EPA spokesperson said regulators expected that mosquitoes with the corporate genes “would disappear from the environment within 10 generations of mosquitoes because they are not able to reproduce as successfully as local populations.” To prove this, the agency has required Oxitec to monitor neighborhoods for mosquitoes that have DNA from its engineered insects until none have been found for at least 10 consecutive weeks.
One bioethicist at Harvard Medical School told the Times that California has never had a case where this breed of mosquitos had actually transmitted disease, and argued that America’s Environmental Protection Agency was “not a modern enough regulatory structure for a very modern and complicated technology.”
After the U.S. government’s approval, the genetically-engineered mosquitors still face several more months of scientific evaluation from California’s Department of Pesticide Regulation.
Thanks to long-time Slashdot reader schwit1 for sharing the link

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Crypto Use Is More Prevalent in Corrupt Countries, IMF Study Finds

“According to a new International Money Fund (IMF) report, cryptocurrency is much more popular in countries with insecure currencies and corrupt governments…” reports The Street, adding that the report concludes “the best way forward is not fight, but to learn how to better regulate cryptocurrency.”

The IMF surveyed more than 110,000 respondents in over 55 countries, polling between 2,000 and 12,000 people in each country, about their cryptocurrency use….
“Crypto usage is empirically associated with higher perceived corruption and more intensive capital controls,” the study’s authors write. “[…] This evidence adds to the case for regulating crypto usage — for example, by requiring intermediaries to implement know-your-customer procedures.”

Bloomberg adds:
The report shows why countries might want to require intermediaries, such as digital currency exchanges, to implement know-your-customer procedures — ID verification standards that are designed to prevent fraud, money laundering and terrorism financing, the organization said. Some countries, like the U.S., have already instituted those kinds of controls.

Nations around the world are struggling over the best way to regulate the $2 trillion crypto market, with the level of oversight varying greatly from one country to another. The findings suggest that crypto assets “may be used to transfer corruption proceeds or circumvent capital controls,” the organization said, without singling out individual countries.

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US President Invokes Emergency Authority Prioritizing Pursuit of EV Battery Minerals

U.S. president Joe Biden “will invoke the Defense Production Act to encourage domestic production of minerals required to make batteries for electric vehicles and long-term energy storage,” reports CNBC.

“It will also help the U.S. minimize dependence on foreign supply chains.”
The president’s order could help companies receive government funding for feasibility studies on projects that extract materials, including lithium, nickel, cobalt, graphite and manganese, for EV production.

The Defense Production Act, established by President Harry Truman during the Cold War, allows the president to use emergency authority to prioritize the development of specific materials for national production…. The administration also said it’s reviewing further uses of the law to “secure safer, cleaner, and more resilient energy for America.”

The transportation sector is one of the largest contributors to U.S. greenhouse gas emissions, representing about one-third of emissions every year. The transition away from gas vehicles to EVs is considered critical to combating human-caused climate change….

The administration in February unveiled a plan to allocate $5 billion to states to fund EV chargers over five years as part of the bipartisan infrastructure package.

The White House said in a statement the move would reduce America’s reliance on China and other countries “for the minerals and materials that will power our clean energy future.”

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The New Silent Majority: People Who Don’t Tweet

An anonymous reader quotes a report from Axios, written by Erica Pandey and Mike Allen: The rising power and prominence of the nation’s loudest, meanest voices obscures what most of us personally experience: Most people are sane and generous — and too busy to tweet. It turns out, you’re right. We dug into the data and found that, in fact, most Americans are friendly, donate time or money, and would help you shovel your snow. They are busy, normal and mostly silent. These aren’t the people with big Twitter followings or cable-news contracts — and they don’t try to pick fights at school board meetings. So the people who get the clicks and the coverage distort our true reality.

Three stats we find reassuring:

1. 75% of people in the U.S. never tweet.
2. On an average weeknight in January, just 1% of U.S. adults watched primetime Fox News (2.2 million). 0.5% tuned into MSNBC (1.15 million).
3. Nearly three times more Americans (56%) donated to charities during the pandemic than typically give money to politicians and parties (21%). The report also highlights a Gallup 2021 poll, showing that 42% of Americans identified as independents.

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Elizabeth Warren’s Anti-crypto Crusade Splits the Left

Democratic lawmakers are entering a crypto collision course. Politico reports: Questions around how to police digital currency and whether to support its adoption are driving a rift not just between the party’s liberal and centrist wings but also among progressives who often see eye-to-eye on financial regulation. Sen. Elizabeth Warren of Massachusetts — who has long led the left’s charge to crack down on banks and Wall Street — has emerged as one of the party’s most vocal cryptocurrency critics, warning that it exposes consumers to danger, is ripe for financial crimes and is an environmental threat because of its electricity usage. But a new generation of progressives — and a number of other senior Democrats — are embracing the startup industry. They’re arguing against regulations that could stifle what proponents say is a new avenue for financial inclusion and a breakthrough alternative to traditional banks. “The project of radically decentralizing the internet and finance strikes me as a profoundly progressive cause,” Rep. Ritchie Torres (D-N.Y.) said in an interview. “You should never define any technology by its worst uses. … There’s more to crypto than ransomware, just like there’s more to money than money laundering.”

The simmering conflict is set to intensify in the coming months. President Joe Biden last week asked federal agencies to start solidifying the federal government’s approach to crypto, framing the step as supportive of innovation rather than an industry crackdown. The price of Bitcoin surged on the news. Separately, Democratic lawmakers have started to draft a host of crypto regulation bills that are also exposing a wide range of views on the government’s role in the $1.7 trillion market for digital assets. The lack of consensus among Democrats means it’s unlikely Congress will act anytime soon to pass major legislation laying out the direction of regulation of the new market. Some Democrats and lobbyists had expected initial votes early this year, but that timeline has slipped.

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The Most Precise-Ever Measurement of W Boson Mass Suggests the Standard Model Needs Improvement

After 10 years of careful analysis and scrutiny, scientists of the CDF collaboration at the U.S. Department of Energy’s Fermi National Accelerator Laboratory announced today that they have achieved the most precise measurement to date of the mass of the W boson, one of nature’s force-carrying particles. Phys.Org reports: Using data collected by the Collider Detector at Fermilab, or CDF, scientists have now determined the particle’s mass with a precision of 0.01% — twice as precise as the previous best measurement. It corresponds to measuring the weight of an 800-pound gorilla to 1.5 ounces. The new precision measurement, published in the journal Science, allows scientists to test the standard model of particle physics, the theoretical framework that describes nature at its most fundamental level. The result: The new mass value shows tension with the value scientists obtain using experimental and theoretical inputs in the context of the standard model. If confirmed, this measurement suggests the potential need for improvements to the standard model calculation or extensions to the model.

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US Life Expectancy Falls For 2nd Year In a Row

Despite the availability of life-saving COVID-19 vaccines, so many people died in the second year of the pandemic in the U.S. that the nation’s life expectancy dropped for a second year in a row last year, according to a new analysis. NPR reports: The analysis of provisional government statistics found U.S. life expectancy fell by just under a half a year in 2021, adding to a dramatic plummet in life expectancy that occurred in 2020. Public health experts had hoped the vaccines would prevent another drop the following year. “The finding that instead we had a horrible loss of life in 2021 that actually drove the life expectancy even lower than it was in 2020 is very disturbing,” says Dr. Steven Woolf, a professor of population health and health equity at Virginia Commonwealth University, who help conduct the analysis. “It speaks to an extensive loss of life during 2021.”

Many of the deaths occurred in people in the prime of their lives, Woolf says, and drove the overall U.S. life expectancy to fall to 76.6 years — the lowest in at least 25 years. “The motivation for this study was to determine whether the horrible drop in life expectancy that we documented in 2020 resolved or rebounded in 2021 or whether there was a continued decline. Unfortunately, we did not find good news,” Woolf told NPR in an interview.

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‘We Probably Pissed Away $200 Million,’ Better.com CEO Told Employees In Layoffs Meeting

When Better.com CEO Vishal Garg laid off 900 employees, or about 9% of the company’s staff, in early December, the startup world was shocked with his callous delivery. Now a video of Garg and CFO Kevin Ryan addressing the remaining employees right after the chief executive performed those layoffs has emerged, confirming many reports of his brash style and harsh words about those affected. TechCrunch reports: In a video obtained by TechCrunch, Garg is seen addressing the layoffs and in the process, admitting to making a number of mistakes. We chose not to publish the video in an effort to protect the identity of the source, but we’ve picked out the most relevant bits based on a transcription of the 12-minute meeting. About two minutes into the meeting, Garg says: “Make no mistake we did also eliminate redundant roles — who might be strong performers but were in the wrong place at the wrong time, with the wrong task, and weren’t mission critical.”

After about four minutes, Garg also acknowledged that the company was continuing to hire, including some interns, in the midst of the layoffs, while at the time making a thinly veiled threat: “…It’s because we expect those people to be super productive and add value, and if they don’t we will exit them too.” He added: “We are going to be leaner, meaner and hungrier going forward. We will not be spending time trying to raise capital. We will not be spending time focused on what investors think. We will be spending time grinding this business forward in what will likely be a bloodbath in the mortgage industry in the next year or two.”

In the video at around the 8-minute mark, Garg admits to not being disciplined in managing the company’s cash and in its hiring strategy, which helps explain the company’s second mass layoff of over 3,000 people just three months later. It also helps support multiple sources’ claims that the company is currently “losing $50 million per month.” “Today we acknowledge that we overhired, and hired the wrong people. And in doing that we failed. I failed. I was not disciplined over the past 18 months. We made $250 million last year, and you know what, we probably pissed away $200 million. We probably could have made more money last year and been leaner, meaner and hungrier.” He also explicitly says that the company lost $100 million in the previous quarter, saying it was his “mistake” for not laying off staff earlier.

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