Daily Digest 8/17 — Cryptocurrencies’ Market Cap Has Risen Above $2 Trillion for the First Time Since May; New Zealand Enters Nationwide Lockdown…

Daily Digest 8/17 — Cryptocurrencies’ Market Cap Has Risen
Above $2 Trillion for the First Time Since May; New Zealand Enters
Nationwide Lockdown… 1

Economy

Vessel Congestion At LA Ports Soars As More Ships Join Queue – ZeroHedge

Vessel congestion outside the busiest US gateway for trade with Asia is clogged with the most inbound container vessels in nearly six months.

Bloomberg data shows the number of containerships queuing off the coast of Los Angeles has reached 37 on Sunday evening, that’s three less than the all-time-high observed on Feb. 1.

3.7 million more people would have quit their jobs by now if not for the pandemic – Business Insider

A whole lot of people have been quitting their jobs in the past months, but it’s still lower than the number who would’ve quit in a pandemic-free world.

That’s because there’s still 3.7 million “missing quits,” according to Daniel Zhao, a senior economist at Glassdoor.

“Basically, I just looked at what quits were trending like in 2019 and looked at the shortfall during the pandemic, because, of course, quits had dropped pretty significantly during the pandemic,” Zhao told Insider.

Cryptocurrencies’ market cap has risen above $2 trillion for the first time since May as bitcoin rebounds – Business Insider

The market capitalization of the cryptocurrency universe has broken the $2 trillion barrier for the first time since May after a strong rebound in bitcoin and other tokens.

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The total value of all cryptocurrencies reached $2.02 trillion on Saturday, according to Coinmarketcap. It hovered around that level until dipping slightly to $1.96 trillion on Sunday. Bitcoin’s market cap stood at $863 billion, while ether’s was $370 billion.

The US is digging into its tax toolkit to rebuild its rare earth industry – Quartz

To build a full rare earth supply chain, it’s sometimes not enough to just mine, extract, and process ores. Far away from project sites where heavy machinery dig deep into the earth, small tweaks to the tax code could align incentives and spur production to boost a domestic industry.

That’s the thinking anyway behind a bipartisan bill introduced in the US Congress last week, which would provide tax credits for the domestic production of permanent rare earth magnets.

Environment

Case of the mystery sea snakes: why are reptiles washing up on New Zealand’s shores? – Guardian

It’s not only New Zealand. Sea snake species have been cropping up in recent years in other regions and countries where they hadn’t been previously recorded, including Japan, South Korea and California. Researchers for the journal of Climate Change and Human Health found that “sea snakes are expanding their ranges and coming into contact with humans in unprecedented locations”.

How much energy does bitcoin use? – Quartz

How much electricity does bitcoin consume globally? The answer is important not only for the health of the planet, but also for the currency’s value.

Health

New Zealand enters nationwide lockdown over one Covid case – BBC

New Zealand has announced a snap lockdown after a man tested positive for Covid, the first case in six months.

The case was detected in Auckland, which will be in lockdown for a week, while the rest of the country will be in lockdown for three days.

Authorities say they are working on the assumption that the new case was the Delta variant.  Just around 20% of its population has been fully vaccinated.

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Nevada Allowing Large Events to Go Maskless if All Guests Are COVID Vaccinated

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