The Daily Valet. - 7/18/22, Monday

✔️ The Hits Just Keep on Coming

Monday, July 18th Edition

Cory Ohlendorf, Editor in Chief of Valet.

I hope you’re not enjoying some Skittles while you’re reading this.

Cory Ohlendorf , Editor ⋯ @coryohlendorf

Today’s edition is presented by

Today’s Big Story

Crypto Hits Keep on Coming

Bankruptcy, soaring inflation and now lawmakers are looking into how it may be raising your electricity bill?

The good times and fast money for crypto miners and traders really do seem to be taking some ugly hits lately, huh?

Just last month it was reported that Bitcoin miners were selling off more Bitcoin than they were bringing in in order to cover their energy costs during the crypto crash, which saw the token plummet in value.

Now, cryptocurrency miners have a new issue on their hands: the United States Congress. We all know by now that cryptocurrency mining uses an enormous amount of energy. In fact, seven Bitcoin miners will use up the same amount of electricity as the whole city of Houston. Congressional Democrats are now looking into crypto mining requirements that would force mining companies to report their energy usage to government agencies.

Why? According to InsideHook, cities are experiencing increased power bills due to the stresses that crypto mining can put on utility systems. Which means the electronic gold rush can affect people even if they have no interest whatsoever in Bitcoin, Ethereum or Dogecoin.

Of course, there may be less demand to mine it at the current moment. Soaring inflation is making investors less inclined to buy crypto, according to analysts. Just last week, Celsius Network filed for Chapter 11 bankruptcy—with around $4.7 billion owed to its users. And it’s just one among several platforms in crisis amid the great debt unwinding that marks this so-called “crypto winter,” leaving customers—many of whom were regular people drawn in by the firm’s promises of sky-high yields—in the lurch.

But despite all the trouble, it’s not going anywhere anytime soon. Sure, crypto may be a volatile and risky investment today, but credit card companies are betting that it will one day be used routinely for everyday purchases—and they’re paving the way now to make it easier in the future.

↦ FYI: JPMorgan estimates that the production cost to mine one Bitcoin has dropped from $24,000 at the start of June to just $13,000 today.

A Rough Weather Week

Parts of the U.S. and Europe are bracing for some of their hottest temperatures yet

Across the United States, millions of Americans are getting ready for some of the warmest days they've ever seen. And on the other side of the Atlantic, a deadly heat wave is enveloping France and the U.K. after tormenting Spain and Portugal—bringing the likelihood of new all-time high temperature records in both countries.

Parts of the Great Plains are forecast to hit record-breaking temperatures this week, according to meteorologists at AccuWeather. Kansas, Oklahoma and Texas could get as hot as 110 degrees (and that's before the heat index).

The National Weather Service warns that the triple digit temps pose an increased risk for heat illnesses. In Texas, for example, calls for help due to heat-related issues increased by 120.4% in 2022 during the months of May 1 to July 12 when compared to last year.

The heat wave in Portugal already caused 659 deaths over the past week, according to NPR, citing the nation's Health Ministry. Temperatures reached as high as 117 degrees in some parts of the country. And in Britain, the U.K. Met Office is forecasting the country's first-ever occurrence of 104°F temperatures. I mean, it's England!?

↦ FYI: Studies have shown that climate change is making heat waves like this one hotter than they otherwise would have been, as well as more frequent and longer-lasting.

Partner

Feeling rundown? You don't need more coffee, but you could very well be deficient in an element essential for a number of functions in the body.

Taste the Toxins?

A consumer lawsuit claims that Skittles are ‘unfit for human consumption’

If I were writing this newsletter on a plane, I'd be in trouble. Skittles are one of my go-to Hudson News candies. But the parent company of Skittles is now facing a class action lawsuit over its alleged use of a toxic chemical.

The lawsuit, filed in the Northern District of California, alleges Mars Inc. has violated the state's consumer protection laws by failing to remove titanium dioxide (TiO2) from the candy. The complaint says that Skittles are unsafe for consumers because they contain “heightened levels” of the substance.

According to Reuters, titanium dioxide as a food additive will be banned in the European Union next month after a food safety regulator there deemed it unsafe because of “genotoxicity,” or the ability to change DNA.

The company announced it would phase out TiO2 coloring back in 2016, pledging to remove the chemical and other artificial coloring over the next five years; however, plaintiff Jenile Thames claims he purchased Skittles from a California gas station earlier this year, and found the candy still listed it among the ingredients. Thames argues Mars Inc. has failed to inform consumers about the dangers of consuming the toxin. And here I was sweating that the first two ingredients on the label are sugar and corn syrup.

The Nikes of the Future?

The new Air Force 1s are specially engineered to look fresh forever

When it comes to sneakers, you either want them looking clean and crisp or lovingly worn-in and scuffed. There's not much in between. Of course, the latter is much easier to accomplish.

But Nike is envisioning a future where fastidious sneaker buffs can have their cake and eat it too—they've designed an an iteration of the legendary Air Force 1 that will stay looking box-fresh permanently.

How? Well, you can't stop aging entirely, but the Air Force 1 "Fresh" comes pretty close with a few design tweaks. Soft, textured leather helps conceal creasing and is easier to wipe clean. They're more breathable than the original and less sweat means less smells and breaking down of the insides of the shoe.

They've also swapped all of the branding (which is typically stitched or sewn onto tags) for debossed leather—further preventing any staining and ensuring easy clean-up. Plus, they come with extra laces. But all good shoes do that now. If they really wanted to keep these fresh, they should come with at least six spare pairs of laces.

↦ Buy: The Air Force 1 ’07 “Fresh” are still available at Nike for $140.

In Other News

↦ Uvalde Report: 376 Officers but ‘Egregiously Poor’ Decisions

↦ Jennifer Lopez and Ben Affleck Got Married in Las Vegas

↦ Here Are 11 Times Selfies Turned Tragic

Other Things We’re Talking About Today

This cheeky National Park PSA

Frozen Pop-Tarts

Dating your friend

Partner

Are You Low on Electrolytes?

If you’re active, or following a keto, low-carb, or paleo diet, you likely are

We hear about electrolytes a lot. But what are they exactly? These essential minerals—like sodium, calcium, magnesium and potassium—are vital to many key functions in the body. In fact, according to Cedars-Sinai clinical dietitian Erika Der Sarkissian, they're responsible for regulating muscle contractions and keep you hydrated, while also balancing your pH levels and controlling your nervous-system function.

Which is why we feel so cruddy when we're running low on them. Electrolyte deficiency or imbalances can cause headaches, cramps, fatigue and weakness. When you sweat, the primary electrolyte lost is sodium (and you can lose up to seven grams per day). When sodium isn't replaced, it's common to experience muscle cramps and fatigue. I know this from firsthand experience after my weekend bike rides (nearly 50 miles last Saturday, thank you very much). At first I worried it was age catching up on me when I experienced a woozy fatigue and couldn't get off the couch.

But now I realize I wasn't properly rehydrating to restore lost electrolytes. And the same can happen if you're following a low-carb, ketogenic diet as well (anyone hear of the “keto flu”?) LMNT is an easy and tasty way to get back vital electrolytes. The single-severing drink mix has everything you need and nothing you don't. That means a generous dose of salt, along with potassium and magnesium but absolutely no sugar.

Those sports drinks you find at the convenience store? Yeah the average bottle has a whopping 34 grams of sugar in them. And only 270 mg of sodium. LMNT, on the other hand, skips the sugar, artificial ingredients and colors. And they've got a science-backed electrolyte ratio of 1,000 mg sodium, 200 mg potassium and 60 mg magnesium. Plus, the fruit flavors are refreshing and sweetened only with natural, no-calorie stevia. Now I can see why it's used by everyone from pro athletes and Olympians to Navy Seals.

↦ Try It: Get a free sample pack (8 single serving packets) with any purchase.

What We’re Eyeing

Converse Chuck Taylor All Star Classic Sneakers

Get ready for questions. Because this monochromatic take ($60) on the iconic Chuck Taylor elicits a response from people. They look like a cool special-edition pair you picked up in Japan or maybe a collaboration with an understated luxury brand. But they're just a relatively new colorway that you can cop for sixty bucks on the brand's website. But you can keep that a secret between us.

↦ Want more? 5 stylish items to buy this week