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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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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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Activism

Mayor Barbara Lee Joins National Public Safety Leaders to Advance Proven Violence Reduction Strategies

Oakland Mayor Barbara Lee attends a two-day meeting with other mayors and public safety leaders to discuss violence reduction strategies; Oakland has seen a 39% drop in homicides.

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Oakland was one of four cities participating in a public safety convening.  Courtesy image.
Oakland was one of four cities participating in a public safety convening.  Courtesy image.

By Post Staff

Mayor Barbara Lee this week joined Baltimore Mayor Brandon Scott, Philadelphia Mayor Cherelle Parker and public safety leaders from Oakland for a two-day meeting focused on advancing cutting-edge public safety strategies, including focused deterrence and violence reduction.

The meeting brought together civic and public safety leaders from Oakland and Indianapolis to locations in Baltimore and Philadelphia to share lessons learned and identify innovative approaches to crime prevention, intervention, and enforcement.

The participating cities are widely recognized for pioneering community-centered public safety models that prioritize prevention, accountability, and sustained investment in neighborhood-based solutions

Oakland’s delegation included Department of Violence Prevention (DVP) Chief Holly Joshi, Oakland Police Department Assistant Chief Casey Johnson, and Ceasefire Director Annette Jointer.

Oakland’s participation underscores its continued leadership in advancing evidence-based violence reduction strategies and building a public safety system that integrates law enforcement with community intervention and prevention programs.

Oakland continues to see historic reductions in violence, reflecting coordinated efforts across the Department of Violence Prevention, Oakland Police Department, Ceasefire, and community-based partners, including:

  • Violent crime down 22%
  • Homicides down 39%
  • Lowest homicide total in nearly 60 years

These gains reflect sustained investment in focused deterrence strategies, real-time intervention, and expanded community violence interruption programs.

“Public safety is not achieved by any one agency alone—it requires coordination, trust, and a shared commitment to prevention and accountability,” said Lee. “We are proud to stand alongside cities like Baltimore, Philadelphia, and Indianapolis that are proving what works. We are seeing real progress in reducing violence in our communities, and we remain committed to building on that momentum through strategies that center prevention, intervention, and strong partnerships with residents.”

“Oakland’s progress shows what is possible when cities invest in focused deterrence and wraparound supports that reach people most at risk,” said Joshi. “Our work is grounded in building trust, responding quickly to emerging conflicts, and connecting individuals to services that interrupt cycles of violence. This convening was an opportunity to strengthen that work through shared learning with peers who are advancing similar strategies nationwide.”

Said Johnson, “Effective public safety requires a balanced approach that combines accountability with deep collaboration across agencies and communities.”

“We are seeing meaningful reductions in violent crime because of strong partnerships between law enforcement, DVP, Ceasefire, and community organizations,” said Johnson. “Engaging with peer cities allows us to refine and improve the strategies that are making Oakland safer.”

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Alameda County

Mayor Barbara Lee Declares ‘Delroy Lindo Day,’ Presents Acclaimed Actor with Key to the City

Oakland Mayor Barbara Lee honored acclaimed actor Delroy Lindo with the Key to the City and declared “Delroy Lindo Day” to celebrate his contributions to film, television, and theater.

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Oakland Mayor Barbara Lee presents Oakland actor Delroy Lindo the key to the cCity Council chambers of Oakland City Hall in downtown Oakland. Photo by Carla Thomas. 
Oakland Mayor Barbara Lee presents Oakland actor Delroy Lindo the key to the cCity Council chambers of Oakland City Hall in downtown Oakland. Photo by Carla Thomas. 

By Carla Thomas

Oakland honored one of its most distinguished residents on May 6 as Mayor Barbara Lee presented acclaimed actor Delroy Lindo with the Key to the City and an official proclamation declaring “Delroy Lindo Day.”

The event, titled “Rooted in Legacy: Honoring Delroy Lindo,” took place at Oakland City Hall and brought together community leaders, artists, and young people for an evening centered on storytelling, cultural pride, and intergenerational connection.

Lindo, a critically acclaimed artist who lives in Oakland, was recognized for his extensive contributions to film, television, and theater, as well as his impact on the global African diaspora. Most recently the Oscar-nominated artist was recognized for his phenomenal role as a bluesman in Ryan Coogler’s “Sinners,” a winner both critically and at the box office.

His celebrated body of work included roles in “Unprisoned,” “Malcolm X”, “Clockers,” “Get Shorty,” and ”Da 5 Bloods,” among others.

“He’s brought depth, inspiration, and authenticity to the screen,” said Lee.

The program highlighted both Lindo’s artistic legacy and his influence as a mentor. A centerpiece of the evening was an intimate fireside conversation between MLee and Lindo.

“I am a living, breathing example of somebody who has achieved the American Dream,” said Lindo. “The other side of that is I walk through the world as a Black man of African descent.”

At 5 years of age, Lindo played King Balthazar in a Nativity play. And years later on Easter of 1973 in New York the Negro Ensemble Company’s play, “The River Niger” left a great impact on him.

“Seeing that production and so many Blacks in the audience, gave me an understanding that maybe I could have a career as an actor,” said Lindo.

Students from the Oakland School for the Arts delivered powerful monologues, adding a dynamic and emotional layer to the program. The students’ instructor, Tavia Percia, chairman of the school’s theatre department, watched the performance proudly. Their performances emphasized the importance of arts education and demonstrated the next generation of talent inspired by figures like Lindo.

Five young men from All Tied Up Academy had the honor of presenting the “Rooted in Legacy” plaque to Lindo with Lee.

The evening also featured a cinematic showcase of Lindo’s work, offering a retrospective glimpse into his decades-long career.

The Golden State Warriors presented Lindo with a custom jersey, symbolizing the city’s appreciation for his contributions both on and off the screen.

The highlight of the evening came as  Lee formally presented Lindo with the Key to the City and read the proclamation establishing “Delroy Lindo Day.” The recognition marked not only his artistic achievements but also his enduring connection to Oakland and his commitment to community engagement.

Celebrities, including filmmaker Ryan Coogler, congratulated Lindo via a video presentation. Lindo did not hold back the tears of gratitude. “I carry Oakland with me wherever I go,” said. Lindo, who is Jamaican via the UK, said he chose the Bay Area to call home with his wife and raise his son.

When young men who grew up with his son entered the council chambers, Lindo welcomed them to the stage for a hug and acknowledgement. “These young men are all honorable. I’ve watched them grow up, and they are the future,” he said. “These are three people that give me hope for this country.”

Addressing the audience, Lindo said, “You are part of the infrastructure of my life. My life would not be as it is without you. You give me more than I give you. Wherever I go, I bring Oakland with me.”

advised everyone to push past negativity of the world.

“Hold onto your dreams, particularly now in this country being fed the constant narrative that ‘we are less than,’ because we know we are more than. And kudos to Mayor Lee at the forefront for decades repping us for Oakland and America.”

“Everyone, hold fast to your purpose and charge as a human being and to the young; go for yours!”

Lindo thanked his many fans, friends, and family in the audience. Attendees included broadcaster Dave Clark, attorney John Burris, former Alameda County Supervisor Keith Carson, Dr. Albert Brooks who delivered his son, and First African Methodist Episcopal Church  Rev. Rodney Smith. Screenwriter David Webb Peoples, who gave him his first film role in Australia, “The Blood of Heroes, was also in attendance.

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