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When Rear Admiral William G. Kelly learned of a dark episode from his cherished institutions past, the superintendent of the U.S. Coast Guard Academy was deeply astonished and profoundly bothered.

That it happened in 1934 didnt dissuade Kelly from seeing if some healing could be done, and a positive result could finally be culled from such a miserable moment. But he wasnt sure the family of the man whod been wronged would be so amenable.

I didnt know about the 1934 episode until we saw a story on Feb. 14, 2021 in the Hartford Courant, said Kelly. It motivated him to reach out to Harrison Brooks Fitch Jr., an 80-year-old lifelong Springfield resident and the son of Harrison Honey Fitch, a victim of racial prejudice during the college basketball season nine decades ago.

When decent people with the best of intentions communicate, though, good things can happen – even from the ashes of bad memories. For Kelly, Fitch and the Coast Guard Academy in New London, Connecticut, that is what is happening now.

Immediately after the newspaper story came out, Kelly wrote a letter to the editor, apologizing for the incident. In January 2022, the academy learned that the elder Fitch was being inducted into the Huskies Hall of Honor, the hall of fame for the University of Connecticut, where Fitch had been a star athlete in the 1930s.

In February, Kelly sent a letter of congratulations to Fitch, Jr., who likes to go by the first name of Brooks. The admiral wanted an opportunity to do more, but he wasnt sure how the Springfield man would react.

When I reached out, (Fitch) didnt call back immediately. He saw us, watched us, and did research on us to see if the academys actions matched its words.

He did his homework. When he did accept our outreach, I was thrilled, Kelly said.

In 1934, the elder Fitch was a star guard on the basketball team at Connecticut State College, as UConn was then known, and also an extremely popular student on campus. His comportment, decency and friendship did as much to deliver the often unspoken message of racial harmony as was his basketball skill, according to his son.

But when Connecticut State College went to play at Coast Guard, the team was informed Fitch would not be allowed to play.

In another incident that night, an African-American boxer from the University of New Hampshire boxer had not been allowed to compete.

That was not a great night for the Coast Guard, or for the nation, Kelly said.

For me, that was a low point for an institution I love, said Kelly, who played Coast Guard sports before his own graduation in 1987 and considers athletics a critical co-curricular element of the academy. What happened in 1934 was not an indication of what I experienced in the 1980s, or what the institution is today. Reaching out to his son was just the right thing to do.

The son wasnt convinced. At least at first.

I was very skeptical, said Fitch Jr. People can be nice in a letter for (public relations) or a photo opportunity. You can pose and shake hands. I didnt want that.

Neither did Kelly. Still, Fitch needed proof that the academy was practicing what Kelly was preaching.

He studied our retention and graduation rates, and specifically if African-Americans were having success at the academy, Kelly said.

We know the timing is really right. This is an opportunity for us to do more.

Thats what Fitch wants, too. On Oct. 19, eight months after Kelly had contacted him, Fitch visited the Coast Guard campus.

I wanted a face-to-face interaction. Ive development a bit of discernment (ability) face-to-face, Fitch said.

I spent time with the cadets, had a chance to share questions, and I got an idea of (Kellys) philosophy. The letter to me had been sincere.

He added, Id refuse to do a public relations moment, but this is a chance to do something positive. The lessons of the past can help us deal with the reality of the future if we deal with it together.

That the incident occurred in 1934 is coincidental to another seminal moment in Western Massachusetts sports and race relations. That was the year members of an American Legion baseball team from Springfield refused to compete at a tournament in Gastonia, North Carolina, because their Black teammate, Ernest Bunny Taliaferro, would not have been allowed to play.

It wasnt until the 21st century that those two communities found healing and friendship in the early 2000s with a series of friendship baseball games. Until Fitch and Kelly met, the Coast Guard story had not enjoyed such a positive epilogue.

The 1934 game at the Coast Guard Academy was delayed as coaches and officials debated whether Fitch, whose graceful playing style had earned him the nickname Honey could play. The basketball game then went on.

According to accounts of the day, it was a rough affair with high emotions that Connecticut State won. Even Coast Guards northern location did not protect the player from mistreatment, perhaps in part because a high percentage of the academys students were from the South, which serves as a point of context but not an excuse.

The elder Fitch, who lived in Springfield. finished his education at American International College and worked at Monsanto Corp. before his death at age 72 in 1984, carried his scars internally for the most part, according to his son.

My father didnt talk much about it. He was very humble, and in addition, African-American parents didnt want to traumatize or darken the hopes and vision of their children, Fitch said. You cant let people destroy your dreams. Im trying to carry on what he believed.

Fitch said hes working with Kelly and the academy to plan activities for the spring to address diversity and inclusion. Were looking at an academy-wide discussion, he said.

It will include how the lessons of 1934 can be used to address society in 2023. There will also be activities with the basketball programs, which Kelly says are the most diversified units on campus.

Abused by the Coast Guard Academy of 1934, Honey Fitch has not been forgotten at UConn. A basketball, baseball and football star at the college, his inclusion into the Huskies of Honor prompted Kelly to contact his son with a letter of congratulations, an apology for the 1934 incident and an invitation him to visit the academy to hopefully move forward together.

Some things have already changed. The gymnasium named after Johnny Merriman, the Coast Guard basketball coach from 1930 to 1945 and its leader at the time of the incident, is now called Alumni Gymnasium, Kelly said.

The academy and Fitch are looking at possible high school curriculum programs and an ongoing relationship with the Naismith Memorial Basketball Hall of Fame. Fitch wants the impact to spread beyond the New London campus.

Im a Springfield person and Ive been here since I was 2, he said. Relations with the Springfield Public Schools and local colleges are on the table.

Fitchs son, who is also an alumni of UConn, has started the Harrison Fitch Leadership Fund. It focuses on leadership and creates opportunities for underrepresented students to better pave their future.

The Coast Guard Academy partnership with the fund will connect with the institutions Loy Institute for Leadership, the Office of Inclusion and Diversity and athletics program.

Kelly supports these initiatives, even though – or perhaps especially because – they speak to a dismal past.

It has been the honor of my time as superintendent to meet Mr. and Mrs. Fitch. The Fitch family didnt owe us anything, yet they had the fortitude to provide us an opportunity to demonstrate our growth as an institution and a service, Kelly said. Weve evolved as nation (since 1934), but we are struggling with how to deal with our past. But working with Mr. Fitch was an easy decision, Im grateful for his strength of character and his part of our efforts every day to make things right.

Fitch is convinced progress cannot be made without an understanding of even an unpleasant past. A student of history, he believes telling the story of what went wrong is essential tocreating a better society and a better day.

When I looked at my position, as disappointed as Id been about what had happened, I wanted to make something positive for future generations to come, he said. Thats what Im doing now.

This plaque honors Harrison "Honey" Fitch who was the victim of racism by the Coast Guard Academy while playing basketball for Connecticut State College in 1934. He was inducted into the Huskies Hall of Honor at the University of Connecticut as the college is now known.

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Crypto stocks down, IPOs punted amid tariff tumult

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Crypto stocks down, IPOs punted amid tariff tumult

Crypto stocks down, IPOs punted amid tariff tumult

Cryptocurrency firms felt the heat from US President Donald Trump’s sweeping tariff rollout this week as market turbulence sent share prices tumbling and foiled initial public offering (IPO) plans. 

From exchanges to Bitcoin (BTC) miners, crypto stocks suffered as much, if not more, than shares of other companies — despite the industry’s warm relationship with the US president. 

On April 2, Trump announced he was placing tariffs of at least 10% on practically all imports into the United States and adding additional “reciprocal” tariffs on some 57 countries. 

Since then, major US stock indices — including the S&P 500 and Nasdaq — tumbled by roughly 10% as traders braced for a looming trade war. 

Crypto stocks down, IPOs punted amid tariff tumult

Bitcoin miners sold off on Trump’s tariff news. Source: Morningstar

Related: Bitcoin ‘decouples,’ stocks lose $3.5T amid Trump tariff war and Fed warning of ‘higher inflation’

Sharp selloffs

Crypto exchange Coinbase — a prominent ally of Trump during the November US elections — experienced a similarly severe sell-off, with its stock price dropping by roughly 12% during the same period, according to data from Google Finance.

Bitcoin miners are also taking a hit. The CoinShares Crypto Miners ETF (WGMI) — which tracks a diverse basket of Bitcoin mining stocks — has lost roughly 13% of its value since immediately prior to Trump’s April 2 announcement, according to data from Morningstar. 

Even Strategy, one of the best-performing stocks of 2024, wasn’t immune. Its share price has fallen by around 6% on the news, Google Finance data showed.

According to Reuters, investment bank JPMorgan has raised its estimated odds of a global economic recession in 2025 to 60% from 40% previously. 

“Disruptive U.S. policies have been recognized as the biggest risk to the global outlook all year,” JP Morgan reportedly said.

“The effect … is likely to be magnified through (tariff) retaliation, a slide in U.S. business sentiment and supply-chain disruptions.”

Crypto stocks down, IPOs punted amid tariff tumult

Strategy’s shares also dropped this week. Source: Google Finance

IPO delays

The impact of US tariffs hasn’t been limited to stock price volatility. Stablecoin issuer Circle has reportedly paused plans for a 2025 IPO, citing market turbulence. 

According to The Wall Street Journal, Circle is “waiting anxiously” before taking further steps after filing to take the company public on April 1. 

It is among several companies — including fintech Klarna and ticketing service StubHub — reportedly considering altering or shelving IPO plans. 

One exception may be Bitcoin itself, which some analysts say is finally “decoupling” from the broader market.

Bitcoin’s spot price has held above $82,000 this week, even as US equities markets collapsed.

Magazine: Unstablecoins: Depegging, bank runs and other risks loom

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Brazilian court authorizes crypto seizure for debt collection — Report

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Brazilian court authorizes crypto seizure for debt collection — Report

Brazilian court authorizes crypto seizure for debt collection — Report

Brazilian judges have been authorized to seize cryptocurrency assets from debtors who owe money and are behind on their payments, signaling a growing recognition that digital assets can be both a form of payment and a store of value.

According to local media reports, the Third Panel of Brazil’s Superior Court of Justice unanimously authorized judges to send letters to cryptocurrency brokers informing them about their intent to seize an account holder’s assets to repay creditors.

The report was confirmed by the Superior Court of Justice, which issued a notice on its website.

The decision was reached unanimously by the Third Panel, which reviewed a case brought forward by a creditor.

“Although they are not legal tender, crypto assets can be used as a form of payment and as a store of value,” a translated version of the Superior Court of Justice’s memo read.

Brazilian court authorizes crypto seizure for debt collection — Report

Source: STJnoticias

Under existing rules, Brazilian judges are allowed to freeze bank accounts and order fund withdrawals, even without a debtor’s knowledge, should they rule that a creditor is owed money.

Following the recent decision, crypto assets now fall under the same purview. 

Minister Ricardo Villas Bôas Cueva, who voted in the five-person panel, said cryptocurrencies still lack formal regulation in Brazil but noted certain bills have recognized the asset class as “a digital representation of value.” 

Related: Brazil’s data watchdog upholds ban on World crypto payments

Despite regulatory uncertainty, Brazil is a major hub for crypto

Although Brazil still lacks an overarching framework for digital assets, with the country’s central bank divvying up the regulatory processes into phases, crypto adoption is surging across the country.

Brazil ranks second among all Latin American countries in terms of “crypto value received,” which is a key benchmark for adoption, according to an October report by Chainalysis. 

Brazilian court authorizes crypto seizure for debt collection — Report

In Latin America, only Argentina has higher crypto penetration in terms of value received as of June 2024. Source: Chainalysis

Earlier this year, crypto exchange Binance was granted approval to operate in the country after it acquired a São Paulo-based investment company. 

A Binance executive told Cointelegraph at the time that Brazil was making “significant strides” in regulating the industry and expects a comprehensive framework to be finalized “by mid-year.”

Nevertheless, not all of Brazil’s regulatory proposals have been favorable for the industry.

In December, the country’s central bank proposed banning stablecoin transactions on self-custodial wallets at a time when more locals were using dollar-pegged tokens to hedge against the devaluation of the Brazilian real.

Industry observers told Cointelegraph at the time that such a ban would be difficult to enforce.

“Governments can regulate centralized exchanges, but P2P transactions and decentralized platforms are much harder to control, which means the ban would likely only affect part of the ecosystem,” said Lucien Bourdon, an analyst with Trezor. 

Related: Brazilian lawmaker introduces bill to regulate Bitcoin salaries

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Environment

EcoFlow members can save up to 65% on power stations while supporting disaster relief during the 2025 Member’s Festival

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EcoFlow members can save up to 65% on power stations while supporting disaster relief during the 2025 Member's Festival

Portable power station specialist EcoFlow is kicking off its third annual Member’s Festival this month and is offering a unique new rewards program to those who become EcoFlow members. The 2025 EcoFlow Member’s Festival will offer savings of up to 65% for its participating customers, and a portion of those funds will be allocated toward rescue power solutions for communities around the globe through the company’s “Power for All” fund.

EcoFlow remains one of the industry leaders in portable power solutions and continues to trek forward in its vision to power a new tech-driven, eco-conscious future. Per its website:

Our mission from day one is to provide smart and eco-friendly energy solutions for individuals, families, and society at large. We are, were, and will continue to be a reliable and trusted energy companion for users around the world.

To achieve such goals, EcoFlow has continued to expand its portfolio of sustainable energy solutions to its community members, including portable power stations, solar generators, and mountable solar panels. While EcoFlow is doing plenty to support its growing customer base, it has expanded its reach by giving back to disaster-affected communities by helping bolster global disaster response efforts the best way it knows how– with portable power solutions.

EcoFlow Member
Source: EcoFlow

EcoFlow and its members look to provide “Power for All”

Since 2023, EcoFlow has collaborated with organizations worldwide as part of its “Power for All” mission. This initiative aims to ensure access to reliable and timely power to disaster-affected communities across the globe, including rescue agencies, affected hospitals, and shelters, to support rescue and recovery efforts.

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This fund most recently provided aid for communities affected by the recent Los Angeles wildfires, assistance to the Special Forces Charitable Trust (SFCT) in North Carolina following severe hurricanes, and support for non-profits engaged in hurricane preparedness in Florida and the Gulf Coast. Per Jodi Burns, CEO of the Special Forces Charitable Trust:

In the wake of devastating storms in Western North Carolina, reliable power was a critical need for the families we serve. Thanks to EcoFlow’s generous donation of generators, we were able to provide immediate relief, ensuring these families and their communities had access to power when they needed it most. We are so impressed with EcoFlow’s commitment to disaster response through their ‘Power for All’ program. It has made a tangible impact, and we are deeply grateful for their support and partnership in helping these families recover and rebuild.

In 2024, the US experienced 27 weather and climate events, each causing losses exceeding $1 billion, marking the second-highest annual total on record, according to National Centers for Environmental Information. The increasing frequency and severity of natural disasters underscore the critical need for reliable and timely power solutions during emergencies, much like EcoFlow and its members are helping provide through the “Power For All” initiative.

To support new and existing EcoFlow members, the company is celebrating its third annual Member’s Festival throughout April to offer a do-not-miss discount on its products and donate a portion of all sales to the “Power for All” fund to provide rescue power to those in need in the future. Learn how it all works below.

Source: EcoFlow

Save big and give back during the 2025 Member’s Festival

As of April 1st, you can now sign up to become an EcoFlow member to participate in the company’s exclusive 2025 Member Festival.

As a member, you can earn “EcoFlow Power Points” by completing tasks like registration, referrals, and product purchases and tracking your individual efforts toward disaster preparedness and recovery.

Beginning April 4, EcoFlow members will also be able to take advantage of exclusive discounts of up to 65% off select portable power stations, including the DELTA Pro Ultra, DELTA Pro 3, DELTA 2 Max, DELTA 3 Plus, RIVER 3 Plus, and more. However, these sale prices only last through April 25, so you’ll want to move quickly!

Click here to learn more about EcoFlow’s “Power for All” campaign. To register for EcoFlow’s 2025 Member Festival in the US, visit the EcoFlow website. To register as a member in Canada, visit here.

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