🌍 How to read US inflation numbers

Plus: Crypto investors sue Kim Kardashian [Quartz]( Sponsored by Good morning, Quartz readers! Was this newsletter forwarded to you? [Sign up here](. Forward to a friend who [gets their investment advice from social media](. Here’s what you need to know US inflation numbers are startling. But the 7% year-on-year rise in consumer prices should be taken with a [pinch of omicron](. Survivors of the Bronx fire filed a $3 billion lawsuit. [The blaze killed 17 people](, allegedly because of defective fire doors, and [the defendants]( include the building’s [current]( and former owners. The US criticized China for canceling flights. As the Chinese government [imposes draconian measures]( to fight covid, among them is the [suspension of several direct routes]( from the US, after inbound passengers later tested positive. A Chinese economist who called for more babies was banned from Weibo. [Ren Zeping had proposed]( that the central bank should print an additional 2 trillion yuan ($314 billion) to set up a fertility fund. Nigeria lifted its Twitter ban. The government suspended the platform [seven months ago]( for removing a post from president Muhammadu Buhari. Elizabeth Holmes won’t be sentenced until September. The Theranos founder and convicted fraudster [must wait]( until the upcoming trial of her former partner, Ramesh Balwani, is concluded. Sponsor content by Galaxy Fund Management These five brands are changing the world as we know it. Some are household names; others are low-key superstars. But they’re all looking far beyond their initial mission statements and business plans to fundamentally alter the way we work, exercise, invest, and even fall in love. [Explore this new interactive]( from Galaxy Fund Management x Quartz Creative to see how a company becomes a catalyst. What to watch for [An animated gif of actors Jennifer Lawrence and Leonardo DiCaprio from the Netflix film Don't Look Up. The caption reads, Tell me this isn't really happening.] Giphy/Netflix Netflix’s hit Don’t Look Up uses a planet-killing comet as [a clunky metaphor for climate change](, with scientists aghast at society’s inability to manage an obvious existential threat. Well, the comet is here, according to assessments this week from meteorologists. On Jan. 10, the EU’s Copernicus satellite agency [reported]( that the planet’s hottest seven years on record (since 1950) were the last seven, “by a clear margin,” with 2021 ranking fifth. For the US, 2021 was the fourth warmest according to records that go back to 1894, the US National Oceanic and Atmospheric Administration reported the same day. More data will be available in NOAA’s full annual climate report today. Still, there’s a key difference between a comet and climate change. A comet is terminal, one-and-done. But with climate change, [every fraction of a degree matters](—so it’s never too late to make the future a little less scary. Crypto investors are suing Kim Kardashian Kim Kardashian, boxer Floyd Mayweather, and former professional basketball player Paul Pierce are being sued for [allegedly misleading investors]( about a little-known cryptocurrency token called EthereumMax. In the past seven months, the token has lost about 97% of its value. [A line chart showing EthereumMax trading volume over time. The trading volume of the digital token spiked about $100 million in May 2021 before swiftly falling to almost $0 in July.] A class action lawsuit alleges misleading promotions and celebrity endorsements artificially increased interest and pricing of EthereumMax tokens while they were available for public trading, “causing investors to purchase these losing investments at inflated prices.” Some regulators accuse Kardashian and other celebrities of engaging in a “pump and dump” scheme, meaning they hyped speculative digital assets while the share price was high before selling them off. Crypto miners are using Bitmain’s rigs The people who made the most money in the California Gold Rush were those who sold picks and shovels. That same logic is driving the success of Bitmain Technology, one of the world’s largest makers of crypto-mining “rigs”—computers that solve puzzles to be rewarded with new bitcoin. The latest Company email [digs into Bitmain’s prospects](. Try a [seven-day free trial of Quartz membership]( for access to all our member-exclusive newsletters. Quartz announcement What's the remote-work experience at your company? We’re ranking the Best Companies for Remote Workers. Submit your company to see if they make the 2022 list. [Enter now]( Handpicked Quartz 😷 [As China and other countries lock down, the UK is “living with covid”]( 💉 [Québec’s newly announced tax on unvaccinated residents is already working]( 🚢 [Maersk can’t find enough green fuel to power its carbon-neutral ships]( 🦸‍♀️ [Kerala’s small film industry—not Bollywood—created India’s first original superhero]( 🏦 [Uganda lowers bank check limits to boost e-transactions]( 👋 [Has TCS found a way out of Indian IT’s growing attrition problem?]( Sponsor content by Galaxy Fund Management These five brands are changing the world as we know it. Some are household names; others are low-key superstars. But they’re all looking far beyond their initial mission statements and business plans to fundamentally alter the way we work, exercise, invest, and even fall in love. [Explore this new interactive]( from Galaxy Fund Management x Quartz Creative to see how a company becomes a catalyst. Surprising discoveries A Chinese woman was documenting her never-ending blind date. Abrupt lockdowns in Zhengzhou caused her to be stranded at his place for a week, but it’s [not going too badly](. Luxury yacht builders in the US are buying up illegal Myanmar teak. [Sanctions against the military junta]( don’t seem to rattle those who very much want fancy boats. A bartender helped police identify an arsonist in Florida. Your servers will remember your face when you [continually fail to tip](. Turkmenistan’s president is closing the country’s main tourist attraction. The “Gates to Hell” is [a giant crater that’s permanently on fire](. Pope Francis popped into a music store and got a CD. Miracles and CD stores [do exist](! SPREAD THE WORD Over 500k readers and counting. You already know why half a million people read the Daily Brief, so why not spread the word? [Share the Daily Brief today]( and get rewarded. Our best wishes for a productive day. Send any news, comments, papal playlists, and blind date stories to hi@qz.com. Get the most out of Quartz by [downloading our iOS app]( and [becoming a member](. Today’s Daily Brief was brought to you by Hasit Shah, Tim McDonnell, Courtney Vinopal, Jane Li, Susan Howson, and Liz Webber. [facebook]( [twitter]( [external-link]( Enjoying Quartz Daily Brief? Forward it to a friend! They can [click here]( to sign up. If you’re looking to unsubscribe, [click here](. Quartz | 675 Avenue of the Americas, 4th Fl | New York, NY 10010 | United States Copyright © 2022 Quartz, All rights reserved.