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Committee Democrats Call On Facebook To Halt Cryptocurrency Plans

SEATTLE MEDIUM — Last week, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee; Congresswoman Carolyn Maloney (D-NY), Chair of the Investor Protection, Entrepreneurship and Capital Markets Subcommittee; Congressman William Lacy Clay (D-MO), Chairman of the Housing, Community Development and Insurance Subcommittee; Congressman Al Green (D-TX), Chairman of the Oversight and Investigations Subcommittee; and Congressman Stephen F. Lynch (D-MA), Chairman of the Task Force on Financial Technology, wrote a letter to Mark Zuckerberg, Founder, Chairman and Chief Executive Officer of Facebook; Sheryl Sandberg, Chief Operating Officer of Facebook; and David Marcus, Chief Executive Officer of Calibra, requesting an immediate moratorium on the implementation of Facebook’s proposed cryptocurrency and digital wallet.

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By The Seattle Medium

WASHINGTON – Last week, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee; Congresswoman Carolyn Maloney (D-NY), Chair of the Investor Protection, Entrepreneurship and Capital Markets Subcommittee; Congressman William Lacy Clay (D-MO), Chairman of the Housing, Community Development and Insurance Subcommittee; Congressman Al Green (D-TX), Chairman of the Oversight and Investigations Subcommittee; and Congressman Stephen F. Lynch (D-MA), Chairman of the Task Force on Financial Technology, wrote a letter to Mark Zuckerberg, Founder, Chairman and Chief Executive Officer of Facebook; Sheryl Sandberg, Chief Operating Officer of Facebook; and David Marcus, Chief Executive Officer of Calibra, requesting an immediate moratorium on the implementation of Facebook’s proposed cryptocurrency and digital wallet.

“Because Facebook is already in the hands of over a quarter of the world’s population, it is imperative that Facebook and its partners immediately cease implementation plans until regulators and Congress have an opportunity to examine these issues and take action,” the lawmakers wrote.“During this moratorium, we intend to hold public hearings on the risks and benefits of cryptocurrency-based activities and explore legislative solutions. Failure to cease implementation before we can do so, risks a new Swiss-based financial system that is too big to fail.”

This letter comes on the heels of Chairwoman Waters’ initial request for Facebook to agree to a moratorium in June.

The Chairwoman has also announced plans to convene a full Committee hearing entitled, “Examining Facebook’s Proposed Cryptocurrency and Its Impact on Consumers, Investors, and the American Financial System” on Wednesday, July 17.

See full text of the letter below.

July 2, 2019

Mark Zuckerberg
Founder, Chairman and Chief Executive Officer
Facebook
1 Hacker Way
Menlo Park, CA 94025

Sheryl Sandberg
Chief Operating Officer
Facebook
1 Hacker Way
Menlo Park, CA 94025

David Marcus
Chief Executive Officer
Calibra
Facebook
1 Hacker Way
Menlo Park, CA 94025

Dear Mr. Zuckerberg, Ms. Sandberg, and Mr. Marcus:

We write to request that Facebook and its partners immediately agree to a moratorium on any movement forward on Libra—its proposed cryptocurrency and Calibra—its proposed digital wallet. It appears that these products may lend themselves to an entirely new global financial system that is based out of Switzerland and intended to rival U.S. monetary policy and the dollar. This raises serious privacy, trading, national security, and monetary policy concerns for not only Facebook’s over 2 billion users, but also for investors, consumers, and the broader global economy.

On June 18, 2019, Facebook announced its plans to develop a new cryptocurrency, called Libra, and a digital wallet to store this cryptocurrency, known as Calibra. To assist it in this venture, Facebook has enlisted 27 other companies and organizations to form the Libra Association, which is based out of Switzerland. [1] These companies span the financial services and retail industry and include payment systems, like Mastercard, Paypal, and Visa, and technology giants, like Uber, Lyft, and Spotify. By the target launch date of early 2020, Facebook hopes to have recruited over 100 firms into the Libra Association.

While Facebook has published a “white paper” on these projects, the scant information provided about the intent, roles, potential use, and security of the Libra and Calibra exposes the massive scale of the risks and the lack of clear regulatory protections. If products and services like these are left improperly regulated and without sufficient oversight, they could pose systemic risks that endanger U.S. and global financial stability. These vulnerabilities could be exploited and obscured by bad actors, as other cryptocurrencies, exchanges, and wallets have been in the past. Indeed, regulators around the globe have already expressed similar concerns, illustrating the need for robust oversight.[2]

Investors and consumers transacting in Libra may be exposed to serious privacy and national security concerns, cyber security risks, and trading risks. Those using Facebook’s digital wallet – storing potentially trillions of dollars without depository insurance– also may become unique targets for hackers. For example, during the first three quarters of 2018, hackers stole nearly $1 billion from cryptocurrency exchanges.[3]The system could also provide an under-regulated platform for illicit activity and money laundering.

These risks are even more glaring in light of Facebook’s troubled past, where it did not always keep its users’ information safe. For example, Cambridge Analytica, a political consulting firm hired by the 2016 Trump campaign, had access to more than 50 million Facebook users’ private data which it used to influence voting behavior.[4] As a result, Facebook expects to pay fines up to $5 billion to the Federal Trade Commission (FTC), and remains under a consent order from FTC for deceiving consumers and failing to keep consumer data private. In the first quarter of 2019 alone, Facebook has also removed more than 2.2 billion fake accounts, including those displaying terrorist propaganda and hate speech.[5]It has also recently been sued by both civil rights groups[6] as well as the U.S. Department of Housing and Urban Development for violating fair housing laws on its advertising platform and through its ad delivery algorithms.[7]

Because Facebook is already in the hands of a over quarter of the world’s population, it is imperative that Facebook and its partners immediately cease implementation plans until regulators and Congress have an opportunity to examine these issues and take action. During this moratorium, we intend to hold public hearings on the risks and benefits of cryptocurrency-based activities and explore legislative solutions. Failure to cease implementation before we can do so, risks a new Swiss-based financial system that is too big to fail.

Sincerely,

Rep. Maxine Waters, Chairwoman

Rep. Carolyn Maloney, Chair – Subcommittee on Investor Protection, Entrepreneurship and Capital Markets

Rep. Wm. Lacy Clay, Chair – Subcommittee on Housing, Community Development and Insurance

Rep. Al Green, Chair – Subcommittee on Oversight and Investigations

Rep. Stephen F. Lynch, Chair – Task Force on Financial Technology

[1] The 27 other members of the Libra Association are Mastercard, PayPal, PayU (Naspers’ fintech arm), Stripe, Visa, Booking Holdings, eBay, Facebook/Calibra, Farfetch, Lyft, MercadoPago, Spotify AB, Uber Technologies, Inc., Iliad, Vodafone Group, Anchorage, Bison Trails, Coinbase, Inc., Xapo Holdings Limited, Andreessen Horowitz, Breakthrough Initiatives, Ribbit Capital, Thrive Capital, Union Square Ventures, Creative Destruction Lab, Kiva, Mercy Corps, and Women’s World Banking

[2] See, e.g. The Honorable Randal K. Quarles, Vice Chairman of Supervision for the Board of Governors of the Federal Reserve System and Chair of the Financial Stability Board, Financial Stability Board Chair’s letter to G-20 Leaders meeting in Osaka, June 25, 2019, https://www.fsb.org/2019/06/fsb-chairs-letter-to-g20-leaders-meeting-in-osaka/. (“A wider use of new types of crypto-assets for retail payment purposes would warrant close scrutiny by authorities to ensure that that they are subject to high standards of regulation.”); Bank of International Settlements Annual Economic Report, Big tech in finance: opportunities and risks, June 23, 2019, https://www.bis.org/publ/arpdf/ar2019e3.htm. (“Big techs have the potential to become dominant through the advantages afforded by the data-network activities loop, raising competition and data privacy issues. Public policy needs to build on a more comprehensive approach that draws on financial regulation, competition policy and data privacy regulation… As the operations of big techs straddle regulatory perimeters and geographical borders, coordination among authorities – national and international – is crucial.”)

[3] CipherTrace Cryptocurrency Intelligence, Cryptocurrency Anti-Money Laundering Report, 2018 Q3 https://ciphertrace.com/wp-content/uploads/2018/10/crypto_aml_report_2018q3.pdf.

[4] Kevin Granville, Facebook and Cambridge Analytica: What You Need to Know as Fallout Widens, (March 19, 2018).

[5] Facebook, Community Standards Enforcement Report (2019 Q1).

[6] Complaint, Nat’l Fair Housing Alliance et al. v. Facebook, Inc., No. 18-cv-02689 (S.D.N.Y Mar. 27, 2018), https://nationalfairhousing.org/wp-content/uploads/2018/03/NFHA-v.-Facebook.-Complaint-w-Exhibits-March-27-Final-pdf.pdf.

[7] Charge of Discrimination, U.S. Dep’t of Housing & Urban Development v. Facebook, Inc., FHEO No. 01-18-0323-8 (March 28, 2019), https://www.hud.gov/sites/dfiles/Main/documents/HUD_v_Facebook.pdf.

This article originally appeared in the Seattle Medium

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Activism

Supreme Court Voting Rights Ruling Reverberates From the South to California

The Supreme Court’s recent ruling weakening the Voting Rights Act is reshaping political battles, particularly in the South. While California’s protections may offer a buffer, the decision raises national concerns about Black political representation and redistricting.

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Researchers pointed out that the number amounts to 1 in every 50 adults, with 3 out of 4 disenfranchised living in their communities, having completed their sentences or remaining supervised while on probation or parole. (Photo: iStockphoto)
iStock.

By Brandon Patterson

A recent U.S. Supreme Court ruling weakening a key section of the federal Voting Rights Act is already reshaping political battles in parts of the South while raising broader questions about the future of Black political representation nationwide.

In Louisiana v. Callais, the Court’s conservative majority limited the use of Section 2 of the Voting Rights Act, the provision historically used to challenge electoral maps that dilute minority voting strength. Writing in dissent, Justice Elena Kagan warned that the ruling marked the “now-complete demolition of the Voting Rights Act.”

The immediate effects of the ruling are expected to be felt most sharply in Southern states, where litigation over majority-Black districts has shaped congressional maps for decades. Republican-led states including Louisiana, Alabama, and Texas have already moved to defend or revisit maps following the decision, according to reporting by Reuters and Politico.

California’s political landscape is different. The state uses an independent citizen’s commission to draw district lines and also has its own California Voting Rights Act, which in some cases provides broader protections than federal law. Because of those safeguards, the Supreme Court’s decision is not expected to immediately alter Black political representation in California.

Still, legal scholars and voting rights advocates say the ruling could shape future national debates over how race is considered in redistricting and voting rights enforcement.

“It changes the legal atmosphere around voting rights nationally,” UCLA law professor Rick Hasen told Axios. “Even states with stronger protections are paying attention to where the Court is headed.”

The decision also arrives amid renewed political fights over redistricting. In California, voters approved Proposition 50 in November 2025, a measure backed by Gov. Gavin Newsom that expanded the state’s ability to redraw congressional maps in response to mid-decade redistricting efforts in other states.

Supporters argued the measure was necessary to counter increasingly aggressive Republican-led redistricting nationally, while critics warned it could weaken California’s independent redistricting tradition.

For Black Californians, the ruling lands at a time when political representation remains significant even as demographic shifts have changed historically Black neighborhoods in cities like Oakland, Los Angeles and San Francisco.

Oakland Mayor Barbara Lee criticized the Court’s decision in comments to The Oaklandside, calling the Voting Rights Act one of the nation’s foundational civil rights protections.

“This decision weakens one of the most important civil rights tools our communities have had,” Lee said. “We know voting rights were never given freely. People fought and died for them.”

Rep. Lateefah Simon warned against complacency.

“This is part of a larger effort to erase the gains of the civil rights movement,” Simon told Oaklandside. “Black political power matters, and representation matters.”

The Voting Rights Act, passed in 1965 during the height of the Civil Rights Movement, helped expand Black political representation nationwide, including in California, where coalition politics among Black, Latino and Asian American voters helped elect candidates of color at the local, state and federal levels.

For many observers, the latest ruling serves less as an immediate threat to California districts and more as a reminder that voting rights protections long viewed as settled remain politically and legally contested.

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Activism

The People’s Coalition to Stop Deed Theft Speaks at National Probate Reform Coalition Meeting

Evangeline Byars and Carmella Carrington lead the STOPDEEDTHEFT.org movement, fighting rising deed and title fraud, which disproportionately affects Black and Brown communities nationwide.

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Left to right:  Evangeline Byars  and Carmella Carrington are gaining nationwide attention with their STOPDEEDTHEFT.org movement.
Left to right:  Evangeline Byars  and Carmella Carrington are gaining nationwide attention with their STOPDEEDTHEFT.org movement.

 

Caption:

By Tanya Dennis

The National Probate Reform Coalition (NPRC) has learned that aside from rampant theft of properties occurring through probate court, deed theft extends even further with the support of banks, police, judges, attorneys and “the system” to steal Black and Brown properties.

Deed and title fraud are rising, with FBI data showing over 9,300 complaints and $173.6 million in losses in 2024 alone.

To that end, NPRC invited Evangeline Byars of The People’s Coalition to Stop Deed Theft as their keynote speaker on May 7.

Deed theft victims reach out to Byars because she has a reputation of getting things done.  Introduced to community organizing at Medgar Evers College in 2011, Byars was mentored by Harry Belafonte and gained further movement training in 2012-13 through his “Gathering for Justice.” Byars also trained with the Youth Brigade 32BJ, Union in 2012 where she learned to map, target, and execute actions.

With that knowledge as an advocacy worker, Byars ran for president of TWU Local 100 for transit workers.  During challenges of the union and political changes in New York when unions no longer had friends in government, they organized.

In 2025, deed theft victims approached Byars and told their stories.  Byars investigated, and discovered rampant, unrelenting theft of properties, primarily from Black and brown families, got involved and helped them with their fight, teaching them how to sustain their fight at the grassroots level while remaining politically independent.  This independence gave them the ability to move without co promise.

Deed theft is the taking of someone’s deed through fraudulent mortgages or a stranger that accesses property records, prepares paperwork and files for an owner’s property. New York is a’ first notice’ state, which means whoever appears first on record is the designated deed holder.

Deed theft escalated between 2013-23, the outcome of the subprime market, when people faced mass foreclosure and short sales. By 2014 people, primary Black and Brown, were fighting for their property.

In California, title theft (deed fraud) is a fast-growing threat often targeting high-equity homes, vacant land, and rentals. As of 2024, California leads the nation in real estate fraud with over 1,583 cases costing roughly $24.8 million in losses in a single year, reflecting the state’s prime position for scammers due to high property values, the FBI reports.

Byars says, “Deed theft affects Black and Brown people: it is by design, leading to the erasure of people of color homeownership that is happening nationwide. In every big city across the United States, towns and municipalities, we are witnessing a mass exodus of Black and brown people.  This theft cannot occur without judges, notaries and law enforcement, it is a syndicate of players working together for the removal of people by illegal ejectment or eviction.

The People’s Coalition to Stop Deed Theft does court watch and constantly highlight the inequities in the court system.

Byars says, “This is a human rights crisis.  Because of Wall Street and what New York signifies to the nation, know that no state is safe.  Any person can come and create paper terrorism, slap forgery notes on homes; engage in illegal guardian procedures; initiate foreclosures; apply for fraudulent loan modifications; then there’s outright theft and forgery, just taking people’s homes.  Believe me, it’s happening nationally and on the daily, These predators also target seniors over the age of 60 and women.”

The People’s Coalition to Stop Deed Theft take direct actions against perpetrators and are working with the New York District Attorney to create an office dedicated to gighting deed theft.

“Two ways to protect your deed is to keep a note, never satisfy your mortgage, because the bank is the biggest gangster, but if you’re making a payment, it keeps them in check.  Or put your home in a living trust, once you have a trust, it hides the owner’s name and protects the person from predators.”

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Amsterdam News

School District Extends Supt. Dr. Denise Saddler’s Contract for a Second Year

The Oakland Board of Education has extended Superintendent Denise Saddler’s contract through June 2027, promoting her from interim to permanent superintendent with a salary of $367,765.45 per year.

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Supt. Dr. Denise Saddler. File photo.
Supt. Dr. Denise Saddler. File photo.

By Post Staff

The Oakland Board of Education voted this week to extend Superintendent Denise Saddler’s contract for another year, from July 1, 2026, to June 30, 2027.

Under the new agreement, Saddler’s job title will become “superintendent”; she will no longer be called “interim.”

Along with the new title, she will receive full superintendent benefits and salary at $367,765.45 per year, according to the employment agreement.

The vote to approve the new contract passed 5-2 at Wednesday night’s board meeting.

Saddler’s original interim contract was for one year. The school board was planning to select a permanent superintendent by the fall but earlier this year decided to delay the search.

The new contract reflects the Board of Education’s “determination that continuity in executive leadership is in the best interests of the district as Oakland Unified continues implementation of its fiscal stabilization strategies, academic priorities, labor relations initiatives, and operational improvements,” the employment agreement reads.

In November, the board approved a $150,000 contract with a consulting firm to carry out that search, but Board President Jennifer Brouhard told KQED last month that the process never got off the ground.

“No work was done, no money has been paid for the work (to) the search firm for the superintendent search,” Brouhard said. “Hopefully, we’ll be resuming that in the early part of the fall.”

Dr. Saddler was born and raised in Oakland, attended local schools, and has dedicated more than 45 years of her career to serving Oakland students and families.

She began her career in 1979 as a teacher of students with disabilities. Over the years, she has served as a teacher, principal, district leader, and teachers’ union president.

While working in OUSD, she has served as principal at Chabot Elementary, area auperintendent, and executive leader for Community Engagement and Educational Transitions. She has also supported schools as a principal coach and substitute principal and taught at UC Berkeley’s Graduate School of Education.

Dr. Saddler holds a Doctorate in Educational Leadership from Mills College and master’s degrees in special education and in Staff Development and Administration.

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