Thousands of people descending on Miami for what's expected to be the largest cryptocurrency conference in the world. Mayor Francis Suarez says this seals the deal for the Magic City to become the next big tech hub. He wants Miami to be known as the "capitol of capital" and he's expecting many start up companies to relocate here. He says the city can offer low taxes and perfect weather.
Suarez is trying to turn more of the city's finances over to crypto. He wants the city to accept fees and pay employees in it. City Commissioners are currently investigating to see if this would be possible. He also touts the crypto group FTX which bought the naming rights to the Triple-A in a 135-million-dollar deal.
At least 50-thousand people are expected to attend the conference today through Sunday at the Mana Convention Center in Wynwood. The conference was supposed to be held in LA, but it was moved here because California has too many COVID restrictions.