Financial Highlights from the Recent Week You Should Know About:
- CRYPTOCURRENCY: Coinbase had a rough week.
It was a tough week for crypto exchange, Coinbase, as they debuted on the S&P 500.
The crypto exchange was targeted by hackers threatening to steal customer’s data which could trigger a loss of $400 million. The hackers demanded a ransom of $20 million.
Not only that, they’re under investigation by the SEC for misrepresenting their “verified users” in past reports (the exchange say they no longer report that figure).
On the bright side: buy low right? - MARKETS: US Loses Perfect Credit Rating.
Credit rating agency Moody’s has downgraded the USA’s credit rating from their perfect “AAA” rating down to “Aa1” for the first time since 1917.
It’s not like this came out of nowhere though, Moody’s did warn the US of a possible downgrade back in 2023.
Other credit rating agencies such as Fitch and S&P already downgraded the country back in 2023 and 2011 respectively.
[Opens ChatGPT, types in: “How to raise credit rating of a country?”] - AI IN FINANCE: Tutorial on using AI for Financial Data Analysis.
Here’s a useful tutorial on using AI for financial data analysis (ignore the “Will AI Replace Your CFO?” headline). - CONSULTING: EY Delays Start Date for New Recruits for Third Straight Year.
White-collar workers are quickly seeing the affects of AI as EY delays the start date of their most recent pre-MBA full-time recruits. - JOBS: Corporate America Leaving More Jobs Unfilled
Could we be seeing the beginning signs of higher unemployment as Corporate America is leaving more jobs unfilled or just not hiring at all?
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