Stock Markets Remain Calm, Despite Turmoil Elsewhere: Live Updates


FedEx handled 6.2 million air packages a day last year, a 48 percent increase over 2016.
Credit…Hunter Kerhart for The New York Times

Hoping to catch up to a surge in demand for the speedy delivery of goods in the pandemic, airports are building new hubs for air cargo carriers.

Since the pandemic started nearly a year ago, 15,000 fewer people arrive and depart daily from the Cincinnati/Northern Kentucky International Airport, known as CVG. But its four runways handle a record amount of air cargo — nearly 4,000 tons a day. A new construction project there will become the center of Amazon Air’s national air transport network, writes Keith Schneider for The New York Times.

The new facility, under construction on a 640-acre site along the airport’s southern boundary, is scheduled to open in the fall. It will feature a 798,000-square-foot sorting center, seven-level parking structure and acres of freshly poured concrete to accommodate 20 aircraft.

The new building is a signal measure of Amazon’s influence as the largest online retailer and its dedication to fast delivery. Both have helped generate a wave of air cargo construction at airports across the United States.

  • FedEx, the world’s largest air cargo carrier, just opened a $290 million, 51-acre project at the Ontario International Airport in Southern California.

  • Ted Stevens Anchorage International Airport, the second-largest air cargo airport in the United States after Memphis International Airport, is planning for $500 million in new freight and package handling and sorting facilities.

  • At Chicago Rockford International, plans are underway to build a 90,000-square-foot cargo facility. As soon as it opens in the spring, the airport will start another 100,000-square-foot cargo project for DB Schenker, Emery Air and Senator International.

“The traffic in cargo is responsible for all the new demand at airports now,” said Rex J. Edwards, an industry analyst and vice president of the Campbell-Hill Aviation Group, a Northern Virginia consulting firm. “That is the evolution of the business now.”

“I would just lay in bed and think about it,” said Stefan Thomas, who has two guesses left to figure out a password that is worth, as of this week, about $220 million
Credit…Nicholas Albrecht for The New York Times

Of the existing 18.5 million Bitcoin, around 20 percent — currently worth around $140 billion — appear to be in lost or otherwise stranded wallets, according to the cryptocurrency data firm Chainalysis. Wallet Recovery Services, a business that helps find lost digital keys, said it had received 70 requests a day from people who wanted help recovering their riches, three times the number of a month ago.

The cryptocurrency’s unusual nature has meant that many people are locked out of their Bitcoin fortunes as a result of lost or forgotten keys. They have been forced to watch, helpless, as the price has risen and fallen sharply, unable to cash in on their digital wealth.

Bitcoin owners who are locked out of their wallets speak of endless days and nights of frustration as they have tried to get access to their fortunes. Many have owned the coins since Bitcoin’s early days a decade ago, when no one had confidence that the tokens would be worth anything.

The quandary is a stark reminder of Bitcoin’s unusual technological underpinnings, which set it apart from normal money and give it some of its most vaunted — and riskiest — qualities. With traditional bank accounts and online wallets, banks like Wells Fargo and other financial companies like PayPal can provide people the passwords to their accounts or reset lost passwords.

Bitcoin has no company to provide or store passwords. But the structure of this system did not account for just how bad people can be at remembering and securing their passwords.

“Even sophisticated investors have been completely incapable of doing any kind of management of private keys,” said Diogo Monica, a co-founder of a start-up called Anchorage, which helps companies handle cryptocurrency security. Mr. Monica started the company in 2017 after helping a hedge fund regain access to one of its Bitcoin wallets.



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