BOARD CERTIFICATION EXAM STUDY GUIDES Lower Extremity Trauma
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Posted on August 13, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Markets: The NASDAQ is fading and closing lower for the second straight week for the first time all year.
Semiconductor stocks dragged the index down, but investors were also a bit fidgety over an inflation report that showed producer prices grew faster than expected last month.
Posted on August 11, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
GlobalLaunch
By Staff Reporters
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Recently, PayPal debuted its stablecoin, PayPal USD (PYUSD), the first issued by a global financial platform. Stablecoin is a cryptocurrency pegged to a stable asset, in this case, the US dollar, which is meant to make it less volatile and safer than other digital tokens. Stablecoins have been around for decades but haven’t taken off in the consumer payment space—mainly because regulators aren’t convinced of the stability promise.
But, PayPal asserts that PYUSD will “reduce friction for in-experience payments in virtual environments” and allow faster and cheaper transfers between countries.
PYUSD works for peer-to-peer payments, both for checking out online and transferring value among digital wallets.
The currency is redeemable for dollars and is convertible to or from other digital currencies that PayPal supports.
And soon, you’ll be able to send your tokens between PayPal and Venmo, making it even more convenient to send money any where and any time..
Posted on August 10, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
Mark Cuban’s Cost Plus Drug Company has been on a partnering spree lately, and its latest collaborator is Scripta Insights, a digital health company that helps health plans and members find prescription savings.
Scripta plans to incorporate Cost Plus Drugs’s discounted pricing into its Med Mapper, which “maps every drug on the market to every possible way to save,” according to Scripta.
Palantir stock fell 11% to $15.25 yesterday, its biggest drop since November 2022. With that decline, shares are now below their 50-day moving average, at $16.16, for the first time May. It’s broken its uptrend line, which sat around $17, and its first level of support, near $16. Worse still, the stock has fallen for six straight days and is 22% during its losing streak, the worst six-day stretch since May 2022.
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Here is where the major benchmarks ended:
The S&P 500 Index was down 31.67 points (0.7%) at 4,467.71; the Dow Jones Industrial Average (DJIA) was down 191.13 points (0.5%) at 35,123.36; the NASDAQ Composite was down 162.31 points (1.2%) at 13,722.02.
The 10-year Treasury note yield (TNX) was down about 2 basis points at 4.004%.
CBOE’s Volatility Index (VIX) was little changed at 15.99.
Financial shares joined tech stocks in the laggard column Wednesday. The KBW Regional Banking Index (KRX) was down about 1%, while the Philadelphia Semiconductor Index (SOX) dropped about 1.4%. Energy stocks continued to outperform as crude oil futures gained nearly 2% and touched a nine-month high near $85 a barrel.
Oil’s recent rally reflects production cuts by top global producers and concern over supply disruptions stemming from the Russia-Ukraine war.
Venture capital funding in the digital health space cooled a bit in 2022 following a red-hot 2021. Overall, digital health companies raised $15.3 billion last year, down from the $29.1 billion raised in 2021—but still above the $14.1 billion raised in 2020, according to Rock Health a seed fund that supports digital health startups.
Nevertheless, analysts predict VC investors and IBs will still put a good amount of money into digital health in 2024 and 2025, especially in alternative care, drug development, health information technology, artificial intelligence, EMRs and software that reduces physician workload.
Of course. an essential first part of attracting VC interest and IB money is the crafting and presentation of your formal business plan [“pitch”] ; as well as the needed technical and managerial experience. This is crucial for success and exactly where we can assist.
Posted on August 8, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Zachary Kirkhorn resigned last week as Tesla’s chief financial officer after 13 years with the electric car giant, according to a filing with the U.S. Securities and Exchange Commission (SEC). The SEC filing show Kirkhorn, who also held the playful title of “Master of Coin,” stepped down on August 4th as Tesla’s CFO. Kirkhorn has served in different finance positions since 2010 and was appointed to CFO in 2019, according to Tesla’s website.
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Here is where the major benchmarks ended:
The S&P 500 Index was up 40.41 points (0.9%) at 4,518.44; the Dow Jones Industrial Average (DJIA) was up 407.51 points (1.2%) at 35,473.13; the NASDAQ Composite (COMP) was up 85.16 points (0.6%) at 13,994.40.
The 10-year Treasury note yield (TNX) was up about 3 basis points at 4.093%.
CBOE’s Volatility Index (VIX) was down 1.29 at 15.81.
Financials and Communication Services were among the best-performing S&P market sectors, while energy shares pulled back as crude oil futures fell nearly 1%. Small-cap stocks were also lower, with the Russell 2000 Index (RUT) easing slightly.
Posted on August 3, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Jeanne M. Marrazzo MD, a University of Alabama at Birmingham infectious-disease expert, will succeed Anthony S. Fauci this fall as director of the National Institute of Allergy and Infectious Diseases, federal officials announced yesterday.
The $6.3 billion research institute is among the largest of the 27 institutes and centers that constitute the National Institutes of Health, America’s flagship biomedical agency. NIAID is also particularly prominent given its involvement in the response to the coronavirus pandemic and other diseases; it has also received attention because of Dr. Tony Fauci’s own high profile and Republicans’ ongoing efforts to investigate the institute’s workings.
Marrazzo, an infectious-disease physician and epidemiologist who has been a principal investigator on NIH grants since 1997, has focused her research on the human microbiome and the prevention of HIV and infections in the female reproductive tract. She emerged as a frequent commentator during the pandemic, appearing on national television and urging Americans to get vaccinated and take other steps to protect themselves from the virus.
An openly gay physician, Marrazzo has studied barriers to care for LGBTQ patients and advocated to address them.
Posted on August 1, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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This week executives from Pfizer, Moderna, AmerisourceBergen, Cigna, and other health companies are set to update investors on their latest financials and product offerings.
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Markets: Stocks ended the day in the green closing out a July where all three major indexes ticked up—the NASDAQ most of all. It was the S&P 500’s fifth-straight month of gains, giving the index its best streak since 2021.
Palantir became the latest company to get a big AI boost after one analyst dubbed it the “Messi of A.I.” because the software company is poised to become a major player.
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The Biden administration just announced it is forming a new Office of Long COVID Research and Practice to study the condition and help those who have been diagnosed with it. The office, which will be under the Department of Health and Human Services, “is charged with on-going coordination of the whole-of-government response to the longer-term effects of COVID-19,” according to a news release.
Posted on July 31, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Darrell Pruitt DDS
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“Regardless whether you are a physician, dentist or optometrist, they are coming for your patients’ records, Doc.” Family Vision of Anderson Data Breach Leaks Social Security Numbers of Up to 62,631 Patients
On July 26, 2023, Family Vision of Anderson filed a notice of data breach with the Attorney General of Maine after a ransomware attack exposed confidential patient information to unauthorized access. In this notice, Family Vision explains that the incident resulted in an unauthorized party being able to access patients’ sensitive information, which includes their first and last names, dates of birth, Social Security numbers, driver’s license numbers, addresses, telephone numbers, email addresses, genders, health insurance information, and protected health information.
Upon completing its investigation, Family Vision began sending out data breach notification letters to all individuals whose information was affected by the recent data security incident.
“Twenty-one percent of organizations stated that ransomware is now specifically excluded from their policies, and those with cyber insurance saw changes in their last policy renewals: 74% saw increased premiums, 43% saw increased deductibles, 10% saw coverage benefits reduced.” From “Ransomware is being excluded from cyber insurance policies”
Posted on July 26, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Dr. David Edward Marcinko MBA CMP
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(AP) — A federal lawsuit alleges that health insurance giant CIGNA used a computer algorithm to automatically reject hundreds of thousands of patient claims without examining them individually as required by California law.
The class-action lawsuit, just filed in federal court in Sacramento, says CIGNA Corp. and CIGNA Health and Life Insurance Co. rejected more than 300,000 payment claims in just two months last year.
The company used an algorithm called PXDX, shorthand for ”procedure-to-diagnosis,” to identify whether claims met certain requirements, spending an average of just 1.2 seconds on each review, according to the lawsuit.
Posted on July 25, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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The good news continued for the Dow, which notched its 11th straight day of gains yesterday—its best streak since February 2017. But there is much coming that could impact the markets this week, from Big Tech earnings (Microsoft and Alphabet report today) to a likely rate hike from the Fed tomorrow.
Stocks spotlight: Mattel, IMAX, and AMC (boosted from a recent ruling blocking a planned stock conversion) were all up.
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Here is where the major benchmarks ended yesterday:
The S&P 500 Index was up 18 points (0.4%) at 4,554.64; the Dow Jones Industrial Average was up 184 points (0.5%) at 35,411.24; the NASDAQ Composite was up 26 points (0.2%) at 14,058.87.
The 10-year Treasury note yield (TNX) was up about 3 basis points at 3.870%.
CBOE’s Volatility Index (VIX) was up 0.29 at 13.89.
Energy was the strongest sector as crude oil futures added to their recent rally with another 2.3% rise to end near $79 per barrel. Financials were also higher, while utilities and health care lagged.
Posted on July 24, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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The NASDAQ 100 is Getting Re-Balanced
Before the market opening today, NASDAQ shuffled the weighting of its NASDAQ 100 Index so that the biggest tech companies have less sway.
The issue is that the market caps of tech giants like Microsoft, Apple, and Nvidia have gotten so big recently that when we refer to “the NASDAQ,” we’re actually just talking about a few companies that hold outsized influence (even after the changes, Apple and Microsoft will account for 22% of the index’s weighting).
The re-balancing isn’t expected to have a meaningful impact on stock prices.
Posted on July 24, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Elon Musk said he plans to make Twitter’s signature blue bird fly away. In a series of tweets early yesterday, the billionaire owner of Twitter said the social media company would soon switch its longtime logo—the silhouette of a jovial blue bird—to an “X.”
“If a good enough X logo is posted tonight, we’ll make [it] go live worldwide tomorrow,” Musk wrote minutes after midnight EST Sunday. The billionaire owner of Twitter also posted an image of a flickering “X.”
Posted on July 23, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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ChatGPT (ChatGenerative Pre-Trained Transformer) is an artificial intelligencechatbot developed by OpenAI and launched on November 30, 2022. It is notable for enabling users to refine and steer a conversation towards a desired length, format, style, level of detail, and language used. Successive prompts and replies are taken into account at each stage of the conversation as a context.
However, the accuracy of OpenAI’s generative language model appears to have declined much this Spring.
A not-yet-peer-reviewed study by Stanford and Berkeley researchers of ChatGPT-4 and ChatGPT-3.5 found a huge difference in the chatbot’s answers between March and June of this year—often for the worse, something people were already reporting anecdotally online.
GPT-4 went from 97.6% accuracy in identifying prime numbers a few months ago to only…2.4% in June.
The newer version of the language model got better at fending off problematic prompts, like coming up with illegal money-making schemes. But rather than explaining why queries are troublesome, it’s now more likely to simply say something like, “Sorry, but I can’t assist with that.”
When asked to create computer code, GPT-4 generated functional work 52% of the time in March and only 10% of the time in June. The lines of code it provided weren’t wrong, but they started to be accompanied by non-usable text, which could create headaches for companies trying to integrate ChatGPT into programming workflows.
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Additionally, the FTC is looking into ChatGPT. The commission seeks to understand whether OpenAI has broken any consumer protection laws. OpenAI received a 20-page demand letter highlighting the commission’s concerns over its data security practices. Microsoft’s Activision Blizzard is likely to be affected if OpenAI is found in the wrong.
Posted on July 23, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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WASHINGTON (Reuters) -The White House just launched an office to prepare for and respond to potential pandemics, to be led by Paul Friedrichs, a military combat surgeon and retired Air Force major general who helped lead the Pentagon’s COVID response. The new Office of Pandemic Preparedness and Response Policy will also take over the duties of President Joe Biden’s current COVID-19 and m-pox response teams, the White House said. The office will be a charged with
“leading, coordinating, and implementing actions related to preparedness for, and response to, known and unknown biological threats or pathogens that could lead to a pandemic or to significant public health-related disruptions in the United States,” its statement said.
‘Threads’ was an attempt by Mark Zuckerberg to pull away traffic from Elon Musk and Twitter, as Zuckerberg and Musk have started a nasty feud. But, it appears that Zuckerberg’s attempt to steal traffic from Twitter is going horribly wrong. Reports released yesterday claim that the number of users on ‘Threads’ has decreased 70% since its July 7th launch. Vice ran a hilarious headline about the failed app, saying, “Threads is All The Worst Parts of Twitter And Instagram in One Very Bad App”
CITE: TheWrap reports on the 70% decrease in users ….
Posted on July 21, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
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HEALTH DICTIONARY SERIES
ByAnn Miller RN MHA
[An Internet WIKI CROWD-SOURCED Curation Project]*
To keep up with the ever-changing healthcare industrial complex, we must learn new definitions and re-learn old terminology in order to correctly apply it to practice. By aggregating the most up-to-date abbreviations, acronyms, definitions and terms, the Health DictionarySeries offers a wealth of information to help understand the ever-changing terms-of-art in healthcare today.
Each 10,000 item handbook is essential for doctors, nurses, benefits managers and insurance agents, CPAs, and administrators; as well as graduate and under graduate students and professors. Our goal to for each dictionary to be designated as a Doody’s Core Title.
Dictionary of Health Insurance and Managed Care
With more than 8,000 definitions, 4,000 abbreviations and acronyms, and a 3,000 item oeuvre of resources, readings, and nomenclature derivatives, this dictionary covers the Medicare, managed care and Medicaid, private insurance, Veteran’s Administration and PP-ACA language of the entire health and long-term care insurance sector.
Dictionary of Health Economics and Finance
Health economics and finance is an integral component of the health care industrial complex. Its language is a diverse and broad-based concept covering many other industries: accounting, mathematics, the actuarial sciences, stochastics and statistics, salary reimbursements, physician payments, compensation and forecasting are all commingled arenas.
Dictionary of Health Information Technology Security
There is a myth that all healthcare stakeholders understand the meaning of information technology jargon. In truth, the vernacular of contemporary systems is unique, and often misused or misunderstood. Moreover, emerging Heath Information Technology (HIT) thru the HITECG initiatives; in the guise of terms, definitions, acronyms, abbreviations and standards; often puts the non-expert in a position of maximum uncertainty and minimum productivity.
*NOTE: A wiki website allows users to add or update content using their browser thru a hosted server created by the collaborative effort of site visitors. The Hawaiian term “wiki wiki” means “super fast.”
Posted on July 20, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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The healthcare industry cut 97% more jobs in the first half of 2023 compared to the same period in 2022, according to a July 6 report from executive outplacement firm Challenger, Gray, & Christmas.
The report mentioned an unnamed hospital that closed last month due to a cyberattack, which likely contributed to the healthcare job cuts. In June, St. Margaret’s Health in Spring Valley, Illinois, closed, and was the first hospital to publicly attribute a cyberattack to its closure, NBC News reported.
Market and economic conditions were cited as the reasons for the majority of job cuts across all US industries; the report didn’t detail the reasons for healthcare job cuts specifically, except for the NBC News Report.
Posted on July 19, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
FINALLY?
By Staff Reporters
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Microsoft’s takeover of Activision Blizzard cleared for landing
A federal judge rejected the FTC’s attempt to stop Microsoft from buying the video game publisher Activision Blizzard, paving the way for the $69 billion deal to close as soon as this month.
The FTC argued that the takeover would result in less competition in the video game industry and limit access to Activision’s blockbuster games, but the judge disagreed, saying, “To the contrary, the record evidence points to more consumer access to Call of Duty and other Activision content.”
While the deal still needs UK regulators’ approval, they also signaled yesterday they would let it proceed.
Posted on July 17, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Markets: Stocks are rolling following a week that showed our inflation emergency seems to be ending, and big banks are still raking in big profits. The Fed’s so-called “soft landing” scenario—getting inflation down without tipping the economy into a recession—is a distinct possibility, as long as corporate finances don’t end up being shockingly bad this earnings season.
Global economy: While the US economy is chugging along, the same can’t be said for China. Growth in the world’s No. 2 economy hardly budged between the first and second quarters, while youth unemployment hit a record last month. Expect President Xi Jinping to make moves to juice China’s stagnating GDP.
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Curiously, Cathie Wood’s flagship exchange-traded fund has rallied more than 50% this year. Investors are using that as an opportunity to get out.
They have pulled a net $717 million from the ARK Innovation ETF over the past 12 months, according to FactSet. That exodus marks a notable shift for a fund that had consistently drawn investor cash since its 2014 inception. Once the largest actively managed ETF with nearly $30 billion in assets under management, the fund has shrunk to roughly $9 billion, mostly due to investment losses.
Known by its ticker symbol ARKK, Wood’s fund became an investor darling shortly after the onset of the Covid-19 pandemic with hugely successful bets on unprofitable and “disruptive” technology companies. It took in huge amounts of investor money, culminating with a $6.5 billion inflow in the first quarter of 2021, when its share price peaked.
Then, the Federal Reserve’s fastest interest-rate hiking campaign in decades crushed the valuations of unprofitable growth companies, which often attract investors when interest rates are low and returns on safer investments such as CDs are minimal. Shares of ARKK plunged 67% in 2022, but its investors largely held on or bought the dip.
Now, analysts say they expect some of those investors are getting out for good?
Posted on July 7, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Ann Miller RN MHACMP™
INTRODUCING OUR NEXT GENERATION e-BOOK LIBRARYFROM iMBA, Inc.
An e-book is an electronic or digital book that can be read on a computer or a handheld device.
Our new e-books consists of text, images, and are fixed to a specific spot on the page.
And, our e-books are a data files similar in content and structure to a word-processing document that comes in a PDF format. To use our e-books, you need to purchase and download it to a device that has a .pdf file reader app, such as ADOBE® or similar on a smartphone, tablet or computer. A PDF, also known as a portable document format, is the format most people are familiar with and used in our e-books. PDFs are known for their ease of use and ability to hold custom layouts. They are the most commonly used e-Book formats, especially by professionals and adult-learners.
You can then access the e-book and read it, or highlight pages and even take side notes.
e-Books Save Money
With no manufacturing, printing, binding or shipping costs, e-Books are cheaper than traditional hard or paper back books.The price of each specialized and highly niche focused e-Book [50-100 pages] is only $25, whereas similar paperback printed books of this type generally cost $145, or more!
Posted on July 3, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Investors are coming out of the mid-year investing season enthused and thanks to an Artificial Intelligence fueled stock market rally that turned into an everything rally.
The NASDAQ posted its best H1 since 1983, and the S&P 500 had its best first-half performance since 2019.
But, don’t expect Wall Street fireworks for the next few days. The US stock market will close early today and shut down tomorrow for Independence Day.
Posted on July 3, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
HHS CYBER SECURITY PROGRAM
By Staff Reporters
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According to Healthcare Brew, the rising tide of ransomware attacks in healthcare is exacting a hefty price from hospitals and other medical providers who’ve had their data locked up by cyberattacks.
Healthcare providers face potential costs arising from more than just the initial ransom; targeted systems have seen lost patient revenue, the need for remediation, and additional recovery costs. And even the largest health systems in the country aren’t immune to the costly ripple effects, such as delayed patient care, including surgeries, that can linger even after an initial attack.
“Not only is the frequency [of ransomware attack] picking up, but I’d say the magnitude or the size is also getting bigger,” said Brian Tanquilut, a healthcare services analyst at Jefferies.
CommonSpirit Health, one of the nation’s largest hospital chains, was hit with a high-profile cyberattack in October. The system has not publicly disclosed the financial fallout, but a Dec. 1 update published on the company’s website said that the cyberattackers gained access to personal information for some patients and that an investigation is ongoing. Chad Burns, a spokesperson for CommonSpirit, declined requests for an interview.
A report from the cybersecurity firm Sophos determined that “the average remediation cost [from a ransomware attack] went up from $1.27 million in 2020 to $1.85 million in 2021.” For others, it’s much more costly.
Tenet Healthcare, a Dallas-based healthcare company, reported a loss of about $100 million attributed to a ransomware attack in April, according to its second-quarter earnings report. San Diego-based Scripps Health said a ransomware attack cost it nearly $113 million in May and June 2021 primarily due to lost revenue, along with recovery costs. Keep reading here.
Posted on June 21, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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EDX Markets, a cryptocurrency platform backed by Charles Schwab (SCHW), Fidelity and Ken Griffin’s Citadel Securities, launched trading for bitcoin (BTC), ether (ETH), litecoin (LTC), and bitcoin cash (BCH).
Bitcoin hit its highest price since early May after a crypto exchange backed by finance heavyweights Charles Schwab, Fidelity Digital Assets, and Citadel Securities said it was open for trading.
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Key Issues:
Schwab and Fidelity-backed crypto-platform EDX Markets began trading for bitcoin, ether, litecoin, and bitcoin cash.
EDX is a ‘non-custodial’ exchange, meaning it does not hold customer crypto and instead uses a third-party custodian.
EDX plans to launch a clearinghouse later this year to help customers settle trades.
EDX also announced new investors that include Miami International Holdings, DV Crypto, GTS, GSR Markets LTD, and HRT Technology.
Posted on June 19, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Referral Change Was Resolution 504 AMERICAN MEDICAL ASSOCIATION HOUSE OF DELEGATES Resolution: 256 (A-23) Introduced by: American Society for Surgery of the Hand, American Association of Hand Surgery Subject: Regulating Misleading AI Generated Advice to Patients Referred to: Reference Committee
The American Medical Association (AMA) just voted to adopt a proposal to help protect patients against false or misleading medical information from artificial intelligence (AI) tools such as generative pre-trained transformers (GPT), etc.
Posted on June 16, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Stocks climbed again yesterday—and it wasn’t just tech companies carrying the team this time. The DJIA was the best-performing major index, showing how the current market rally is spreading beyond the A.I. frenzy. But the Artificial Intelligence frenzy is still frenzied. Microsoft, seen as the de facto AI leader, hit a record high.
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On Wall Street yesterday, CAVAwent public in the sixth-biggest US IPO of the year. Shares of the Mediterranean fast-casual chain popped 99%, giving it a market value of $4.9 billion at market close. Cava’s successful debut could inspire other restaurant brands, such as Panera and Fogo De Chão, to accelerate their plans to go public and wake up a slow IPO market.
Florence is knowledgeable in key health topics, including mental health, nutrition and tobacco cessation, and provides information on COVID-19 vaccines. So, have a chat with her.
Posted on June 7, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
Meta, the Facebook tech giant sold the GIF platform it had recently bought at a steep loss after the UK’s competition regulator demanded it unwind its acquisition over antitrust concerns.
Meta had acquired Giphy in 2020 for $400 million, and just sold the company to Shutterstock for nearly $350 million less than that—$53 million. This was the first instance of British authorities dismantling a Big Tech deal that had already closed
Posted on June 6, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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The Securities and Exchange Commission sued cryptocurrency platform Coinbase today, charging the company with operating an unregistered securities platform and brokerage service. The lawsuit comes a day after the SEC filed charges against Binance, below.
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Cryptocurrencies and shares in crypto and blockchain-related companies tumbled yesterday after the U.S. securities regulator sued crypto exchange Binance, another blow to the industry. The U.S. Securities and Exchange Commission sued Binance and its CEO Changpeng Zhao for secretly controlling Binance.US as part of a “web of deception” to evade U.S. laws, among other charges. Reuters earlier reported that Binance controlled its US affiliate’s bank accounts, despite claiming it was independent.
The SEC also said Binance artificially inflated trading volumes on the platform, diverted customer funds and failed to restrict U.S. customers from its platform and misled investors about market surveillance controls.
Bitcoin, the world’s biggest cryptocurrency was down 5.45% after falling to its lowest level since mid-March following the news. Binance’s cryptocurrency fell 9.72%.
Posted on June 5, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
WHAT IT IS?
By Staff Reporters
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FORMAL DEFINITION:
According to Wikipedia, Health informatics is the field of science and engineering that aims at developing methods and technologies for the acquisition, processing, and study of patient data, which can come from different sources and modalities, such as electronic health records, diagnostic test results, medical scans. The health domain provides an extremely wide variety of problems that can be tackled using computational techniques.
‘Clinical informaticians’ are qualified health and social care professionals and ‘clinical informatics’ is a subspecialty within several medical specialties.
What does it mean to be a medical or healthcare informaticist practitioner?
A medical or healthcare informaticist works to improve how we use information to improve health and healthcare. You can have medical informaticists who are of various specialties, like a nurse informaticist, dentist informaticist. There is even a board certification level in clinical informatics. Improving healthcare also means improving the work of healthcare professionals—not just improving patients’ health, but making things easier for physicians, nurses, and all the various healthcare workers.
What kind of information do MI and HI clinicians deal with?
Patient information that’s stored in our electronic health record (EHR). A lot of the work we do is just making sure that information is showing up in the right places and that it’s flowing from other sources—whether through referrals or the lab system or radiology—then making sure it’s easy to find and easy to use by treating clinicians.
Posted on June 4, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
Mobile money, mobile money transfers and mobile wallets
By Staff Reporters
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DEFINITION: A mobile payment, also referred to as mobile money, mobile money transfer and mobile wallet, is any of various payment processing services operated under financial regulations and performed from or via a mobile device, as the cardinal class of digital wallet. Instead of paying with cash, cheque, or credit cards, a consumer can use a payment app on a mobile device to pay for a wide range of services and digital or hard goods. Although the concept of using non-coin-based currency systems has a long history, it is only in the 21st century that the technology to support such systems has become widely available.
Mobile payments began adoption in Japan in the 2000s and later all over the world in different ways. The first patent exclusively defined “Mobile Payment System” was filed in 2000.
Don’t use Mobile Payment Services to Park Cash, CFPB Warns.
Venmo may not be that much better than stuffing bills under your mattress when it comes to keeping your money safe long term, the Consumer Financial Protection Bureau recently cautioned.
The app and others, like CashApp, Apple Pay, and PayPal, aren’t banks, so the Federal Deposit Insurance Corporation doesn’t provide insurance for funds stored there, the CFPB pointed out. The agency said there are billions of dollars at risk if these apps suffer an SVB-like bank failure.
We knew digital dental records were never safe, even though our trusting patients had no idea. I started warning dentists about sudden public rejection of electronic dental records over a decade ago. In fact, that is why the Texas Dental Association suspended my membership.
It’s the start of the predictable end of digital records in most dental offices. The TDA and the ADA were repeatedly warned, but chose to say nothing about the comparative security of paper to dues-paying members. In fact, the American Dental Association marketed its own digital dental record system until a few years ago when over 500 dental practices using their system were hacked. Then the ADA quietly sold it.
“The records of nearly 9 million people have been published online following a LockBit ransomware attack on Managed Care of North America. The company, also known as MCNA Dental, is a leading provider of dental plans in the U.S., serving private employers, individuals and families through a range of Medicare, long-term and commercial plans. MCNA is also the largest dental insurer for government-sponsored Medicaid and Children’s Health Insurance Program, programs.”
The question is, what will this news do to huge, multi-location dental franchises such as Aspen Dental, Monarch, Medicare and other discount dentistry centers. Dentists have proven they can run successful, large practices using pegboards, ledger cards and bulky, loud metal filing cabinets without risking their patients’ privacy.
By the way, my practice is accepting new patients. Oh yea: TDA, you still owe me $200 in prorated dues for the remainder of the year you kicked me out. Idiots!
Posted on May 30, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
Answering Patient Messages
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The study on ChatGPT “outperforming” doctors in answering patient questions quickly became the talk of the town. However, as is often the case, it was presented as a prime example of media sensationalism.
As we encounter more of these partially misinterpreted hypes – and rest assured, there will be many – we’ll need to navigate a sea of questions. Firstly, we must determine what AI can genuinely do better than healthcare professionals. Secondly, we need to consider how to identify unique areas where healthcare workers can assist patients, while AI automates repetitive and data-driven tasks.
Posted on May 26, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Spoofing
Spoofing is when someone disguises an email address, sender name, phone number, or website URL—often just by changing one letter, symbol, or number—to convince you that you are interacting with a trusted source.
For example, you might receive an email that looks like it’s from your boss, a company you’ve done business with, or even from someone in your family—but it actually isn’t.
Criminals count on being able to manipulate you into believing that these spoofed communications are real, which can lead you to download malicious software, send money, or disclose personal, financial, or other sensitive information.
Phishing
Phishing schemes often use spoofing techniques to lure you in and get you to take the bait. These scams are designed to trick you into giving information to criminals that they shouldn’t have access to.
In a phishing scam, you might receive an email that appears to be from a legitimate business and is asking you to update or verify your personal information by replying to the email or visiting a website. The web address might look similar to one you’ve used before. The email may be convincing enough to get you to take the action requested.
But once you click on that link, you’re sent to a spoofed website that might look nearly identical to the real thing—like your bank or credit card site—and asked to enter sensitive information like passwords, credit card numbers, banking PINs, etc. These fake websites are used solely to steal your information.
Phishing has evolved and now has several variations that use similar techniques:
Vishing scams happen over the phone, voice email, or VoIP (voice over Internet Protocol) calls.
Smishing scams happen through SMS (text) messages.
Pharming scams happen when malicious code is installed on your computer to redirect you to fake websites.
Posted on May 26, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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The value of the US tech company Nvidia has soared by a quarter after it predicted a boom in demand for its computer chips to meet the needs of artificial intelligence products such as ChatGPT. Nvidia’s share price rose by 25% in early trading on the back of the announcement, and gave it a market valuation of more than $940bn (£760bn) after stock markets opened on Wall Street on Thursday, up from $755bn on Wednesday evening. The share price had already more than doubled over the course of 2023, amid huge optimism over the rapid progress of generative AI products. These require massive data centers full of semiconductor chips to operate.
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Here is where the major benchmarks ended yesterday:
The S&P 500® Index was up 36.04 points (0.9%) at 4151.28; the Dow Jones industrial average was down 35.27 (0.1%) at 32,764.65; the NASDAQ Composite was up 213.93 (1.7%) at 12,698.09.
The 10-year Treasury yield was up about 10 basis points at 3.823%.
CBOE’s Volatility Index was down 1.01 at 19.02.
The Philadelphia Semiconductor Index also rose more than 4% to near a 14-month high, while the NASDAQ-100 hit a 13-month high. Transportation stocks were also higher. Oilfield services companies were among the weakest performers as crude oil futures fell more than 3%.
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US credit rating called into question
Credit rating agency Fitch just warned that the fight over the debt ceiling could force it to question the US’ perfect credit rating. It said it had put the nation’s triple-A credit rating on “rating watch negative,” meaning it’s poised for a downgrade if lawmakers can’t work things out. Even negotiations that drag on too long before a deal is reached could trigger a downgrade: That’s what happened in 2011, when S&P dinged the US’ credit over default fears. S&P still hasn’t returned the nation’s score to its highest rating.
Posted on May 22, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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LONDON (AP) — The European Union just slapped Meta with a record $1.3 billion privacy fine today and ordered it to stop transferring user data across the Atlantic by October, the latest salvo in a decadelong case sparked by U.S. cybersnooping fears.
The penalty fine of 1.2 billion euros from Ireland’s Data Protection Commission is the biggest since the EU’s strict data privacy regime took effect five years ago, surpassing Amazon’s 746 million euro penalty in 2021 for data protection violations.
Posted on May 18, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Darrell Pruitt DDS
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Aspen Dental has been hit by a cyber attack. Aspen has over a thousand dental offices across the nation, and even though their official website says there are no signs of patient information being compromised, the American Dental Association is calling it a “breach,” since the attack involved ransomware.
If Aspen Practices each maintain dental records on 10,000 patients, and there are over a thousand Aspen locations, that would mean more than 10 million patients’ records were potentially breached. Texas has 58 Aspen locations – second only to Florida which has 124. (There are three Aspen locations near me in the Dallas-Fort Worth metroplex).
Last of all, history has shown that businesses which suffer one ransomware attack are likely to be targeted a second or even third time. It never ends. And then there are the HIPAA violations and remediation … This is bad for Aspen Dental.
Posted on May 11, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Because the inflation data came in roughly as expected, Wall Street sees the door still open for the Federal Reserve to leave interest rates alone at its next meeting in June. That would be the first time it hasn’t raised rates at a meeting in more than a year, and a pause would offer some breathing room for the economy and financial markets.
Today is the last day of the US Covid-19 public health emergency, which has been in place since Jan. 31st, 2020. With it comes the end of certain Covid-era rules, though some telehealth protections have been extended through the end of 2024. Here’s to all the medical professionals who got us through, and a remembrance for the millions who lost their lives to Covid.
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Brightline, a California-based mental health startup, laid off 20% of its staff this week following a data breach. North Carolina is the latest state to consider changes to the prior authorization process that advocates say delays care. A board member at Geisinger claims that consolidation prompted the healthcare provider to sell to Kaiser Permanente. Texas Gov. Greg Abbottsaid the state should address mental health issues in the wake of a shopping mall mass shooting, but did not call for gun control reform.
Finally, here is where the major benchmarks ended yesterday:
The S&P 500 Index was up 18.47 points (0.5%) at 4137.64; the Dow Jones industrial average was down 30.48 (0.1%) at 33,531.33; the NASDAQ Composite was up 126.89 (1.0%) at 12,306.44.
The 10-year Treasury yield was down about 8 basis points at 3.441%.
CBOE’s Volatility Index was down 0.80 at 16.91.
Oilfield services providers and other energy companies were among the laggards Wednesday, pressured by a more-than 1% drop in WTI crude oil futures.
Financial sector stocks struggling to escape the effects of the bank volatility earlier this spring helped push the KWB Regional Bank Index back near a 2½-year low reached last week.
The S&P 500® Index was down 18.95 points (0.5%) 4119.17; the Dow Jones industrial average was down 56.88 (0.2%) at 33,561.81; the NASDAQ Composite was down 77.36 (0.6%) at 12,179.55.
The 10-year Treasury yield was up about 1 basis point at 3.53%.
CBOE’s Volatility Index was up 0.66 at 17.64.
Semiconductor stocks and other technology shares were among the weakest performers Tuesday, with materials and health care also slightly lower.
Energy companies including oil field services providers were among the strongest, as WTI crude oil futures rose for a fourth consecutive day to their highest level since May 1st.
Posted on May 7, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Tele-Health medical providers are cheering the Drug Enforcement Agency (DEA) move to temporarily extend virtual prescribing flexibility.
The DEA is looking to buy some time to consider whether it should require patients to see doctors face-to-face to get prescriptions for controlled drugs or continue to allow Tele-Health prescriptions. The agency received a record 38,000 public comments on its proposed rule.
Posted on May 6, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Ann Miller RN MHACMP™
INTRODUCING OUR NEXT GENERATION e-BOOK LIBRARYFROM iMBA, Inc.
An e-book is an electronic or digital book that can be read on a computer or a handheld device.
Our new e-books consists of text, images, and are fixed to a specific spot on the page.
And, our e-books are a data files similar in content and structure to a word-processing document that comes in a PDF format. To use our e-books, you need to purchase and download it to a device that has a .pdf file reader app, such as ADOBE® or similar on a smartphone, tablet or computer. A PDF, also known as a portable document format, is the format most people are familiar with and used in our e-books. PDFs are known for their ease of use and ability to hold custom layouts. They are the most commonly used e-Book formats, especially by professionals and adult-learners.
You can then access the e-book and read it, or highlight pages and even take side notes.
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Posted on April 27, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Venture capital funding in the digital health space cooled significantly in 2022 following a red-hot 2021; according to Healthcare Brew. Overall, digital health companies raised $15.3 billion last year, down substantially from the $29.1 billion raised in 2021—but still above the $14.1 billion raised in 2020, according to research from Rock Health, a seed fund that supports digital health startups.
Analysts predict investors will still put a good amount of money into digital health in 2023, particularly in alternative care, drug development technology, and software that reduces physician workload. But investors will likely pull dollars away from a few specific sectors this year.
“There is definitely more diligence, a little bit more skepticism in the investments that are made. So you tend to see investments go slower because diligence is taking longer or investors are being a little bit more conservative,” Adriana Krasniansky, head of research at Rock Health, told Healthcare Brew.
Direct-to-consumer products. The first sector in which Krasniansky expects to see funding slow this year is direct-to-consumer (DTC) products. One reason is that with recession fears, “Consumer spend is not as readily available,” Krasniansky said.
But Apple’s new data privacy rules are also partially to blame. As of April 2021, apps sold through Apple’s App Store must ask users for permission to track activity, and users can opt out. That tracking data is crucial for advertisers to create personalized ads.
“Apple’s privacy measures have impacted customer acquisition costs, making the DTC channel more challenging for a lot of startups—and not just digital health startups,” said Krasniansky.
Posted on April 22, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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FTX is acryptocurrency exchange that was launched in 2018. It specializes in trading products such as derivatives, leveraged tokens, options, and volatility products. It supports most commonly traded cryptocurrencies and is powered by a top liquidity provider. FTX stands for Futures Exchange, a market where users can invest in commodities and foreign exchange.
Quote: “We sometimes find $50m of assets lying around that we lost track of; such is life.”
The sudden collapse of FTX might have been a lot less surprising if you’d been privy to Sam Bankman-Fried’s messages to his fellow executives.
According to a report by the bankrupt crypto exchange’s new management, SBF allegedly found the company’s lack of proper accounting amusing. The report says he described the company’s related hedge fund Alameda Research as “hilariously beyond any threshold of any auditor being able to even get partially through an audit” and joked about misplacing millions.
Posted on April 20, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Meta Platforms, the billionaire’s social media empire, will reportedly cut thousands more jobs. And the bloodbath is not over, according to the latest reports. Meta plans to eliminate thousands more jobs. According to Bloomberg News, an internal memo has been sent to managers, asking them to prepare for tough new announcements. The job cuts, which total 4,000, are expected to affect Facebook, WhatsApp and Instagram. They would also affect Reality Labs, the division that houses the group’s Metaverse projects — Quest virtual-reality headsets. In 2021 and 2022, Reality Labs, which is supposed to build the company’s next big thing, recorded a cumulative loss of nearly $24 billion, including $13.7 billion just last year.
And, Walt Disney Company plans to cut thousands of jobs next week, in another lay-off round that includes about 15% of the staff in its entertainment division, according to people familiar with the plans. Disney Entertainment will bear a significant chunk of the job cuts – with approximately 15% of the division’s staffers set to exit next week, according to a report. Disney has more than 200,000 employees across its various businesses.
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And now, the Markets:
The S&P 500 Index fell 0.35 point to 4154.52; the Dow Jones industrial average was down 79.62 (0.2%) at 33,897.01; the NASDAQ Composite was up 3.81 at 12,157.23.
The 10-year Treasury yield was up about 2 basis points at 3.60%.
CBOE’s Volatility Index was down 0.37 at 16.46.
Transportation was one of the top gainers among S&P 500 sectors yesterday, thanks in part to strength in United Airlines (UAL) and other top carriers. Real estate and financials were also higher, while oilfield services stocks were among the weakest performers due to a sharp drop in crude oil prices. WTI futures fell below $80, their lowest level in nearly three weeks.
Oil prices rallied at the start of this month after members of OPEC+ announced a production cut.
Posted on April 14, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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According to Wikipedia, the Web3 (also known as Web 3.0 and sometimes stylized as web3) is an idea for a new iteration of the World Wide Web based on blockchain technology, which incorporates concepts such as decentralization and token-based economics. Some technologists and journalists have contrasted it with Web 2.0, wherein they say data and content are centralized in a small group of companies sometimes referred to as “Big Tech“. The term “Web3” was coined in 2014 by Ethereum co-founder Gavin Wood, and the idea gained interest in 2021 from cryptocurrency enthusiasts, large technology companies, and venture capital firms.
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Now, some experts argue that web3 will provide increased data security, scalability, and privacy for users and combat the influence of large technology companies.
Others have raised concerns about a decentralized web, citing the potential for low moderation and the proliferation of harmful content,the centralization of wealth to a small group of investors and individuals, or a loss of privacy due to more expansive data collection. Others, such as Elon Musk and Jack Dorsey, have argued that web3 only currently serves as a buzzword.
Posted on April 14, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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A rally on Wall Street yesterday is lifting stocks to their highest level in almost two months following the latest sign that inflation continues to cool. Yesterday’s report showed that prices paid to producers last month were 2.7% higher than a year earlier, the lowest inflation level there in more than two years. The hope on Wall Street is that easier inflation on the wholesale level will not only support profits for companies but also flow through to cooler inflation for consumers. A day earlier, a separate report said inflation for consumers slowed to 5%.
Inflation and how high the Federal Reserve will hike interest rates to tame it have been at the center of Wall Street’s struggles for more than a year. The Fed has hiked rates at such a feverish pace over the last year that it’s already slowed parts of the economy and caused strains to appear in the banking system.
And so, stocks climbed on the cooler-than-expected PPI, and perhaps some optimism around the Q1 earnings season, with several big banks reporting Friday. However, expectations around Fed policy didn’t budge much.
Bond yields were little changed and markets still see a 70% probability of the Fed enacting a quarter-point rate increase in May, according to the CME FedWatch tool.
The following is a round-up of yesterday’s market activity:
The S&P 500 Index was up 54.27 points (1.3%) at 4146.22; the Dow Jones industrial average was up 383.19 (1.1%) at 34,029.69; the NASDAQ Composite was up 236.93 (2.0%) at 12,166.27.
The 10-year Treasury yield was up about 3 basis points at 3.447%.
Posted on April 10, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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We trust everyone had a good weekend as Easter, Ramadan, and Passover were all overlapping. This typically happens only three times a century.
So, as investors head back to work after the three-day weekend, today’s stock moves will focus on Friday’s solid jobs numbers. Checking in on the S&P’s 2023 performance suggests that almost 90% of the index’s gains this year is accounted for by just 20 stocks, Nvidia, Apple, and Meta among them, the Financial Times notes.
And, corporate earnings pick back up this week and will influence the direction of the stock market for the next several months. Big banks, including JPMorgan and Citigroup, will drop their Q1 results on Friday, so we’ll learn how the collapse of SVB impacted them.
Finally, even as the US demands ByteDance to sell TikTok, fresh numbers show why it’s determined to hold on. The Chinese tech giant posted record underlying profit last year (EBIDTA) and is now more profitable than fellow Chinese tech giants Alibaba and Tencent, per the Financial Times. ByteDance grew sales 30% in 2022 to $85 billion, and its profits surged 79% to $25 billion. Worth $300 billion last year, ByteDance is the world’s most valuable private company.
Posted on April 1, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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April Fools’ Day—occurring on April 1 each year—has been celebrated for several centuries by different cultures, though its exact origins remain a mystery. April Fools’ Day traditions include playing hoaxes or practical jokes on others, often yelling “April Fools!” at the end to clue in the subject of the April Fools’ Day prank. While its exact history is shrouded in mystery, the embrace of April Fools’ Day jokes by the media and major brands has ensured the unofficial holiday’s long life.
Investors celebrated a lower-than-expected reading on the Federal Reserve’s preferred inflation gauge by driving major U.S. stock indexes higher Friday, the last trading day of the first quarter. Sentiment got a boost after reports that the personal consumption expenditures (PCE) index rose 0.3% in February, a little below the 0.4% economists were expecting, and 5% from the same month a year ago. Core PCE inflation, which excludes volatile food and inflation prices, was also up 0.3% from the previous month and 4.6% from a year earlier. PCE and core PCE both rose 0.6% in January from the month before.
Despite wild fluctuation due to continuous rate hikes from the Fed and an unexpected bank panic, stocks and bonds managed to turn in a pretty, pretty, pretty good performance for the quarter. The S&P 500 gained 7%, and the Dow Jones Industrial Average gained 0.4%.
But, tech companies were indisputably the market leaders.
Wall Street rewarded tech companies’ layoffs and other cost cutting measures, giving tech stocks a resurgence. And with ChatGPT becoming a household name, investors have their money on generative AI as the next big bet. As of last night:
The tech-heavy NASDAQ Composite index rose a whopping 18% since January 1st, its largest quarterly gain in two years.
Stocks of the tech giants leading the charge in AI-powered search, Microsoft and Alphabet, are up 20% and 16%, respectively.
Bank stocks were a delight for short sellers, who made $2 billion betting against the sector in the past three months.
Smaller institutions were most badly injured by the bank panic: The SPRD S&P Regional Banking ETF, which consists of non-behemoth banks, had more than a quarter of its value wiped out in Q1.
Large banks are feeling the pinch of rising interest rates: Global merger and acquisition deals suffered the biggest first-quarter decline since 2001, according to data analyzed by the Financial Times.
“The 0.3% monthly increase in core PCE was a step in the right direction but suggests the path to 2% inflation will still likely be long and bumpy,” says Collin Martin, a fixed income strategist at the Schwab Center for Financial Research.
The S&P 500 Index rose 58 points (1.44%) to 4109.05; the Dow Jones industrial average was up 415 points (1.26%) at 33274.15; the NASDAQ Composite was up 208 points (1.74%) at 12221.91.
The 10-year Treasury yield slipped seven basis points to 3.482%.
CBOEs Volatility Index was down 22 basis points (1.16%) at 18.78.
Posted on March 30, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
Connecting the future of dentistry in 3D
By Staff Reporters
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Dentaverse was born in the heart of Europe between young professionals. A combination of Dental, Finance, 3D and web professionals coming together to connect dental dots. In doing so Dentaverse has grown in to a deep integration of dental know-how and innovative technologies like: Metaverse (VR), blockchain, web3 tech and education.
Accelerating personal and professional growth by connecting dental students, universities, professionals and suppliers in virtual reality.
Posted on March 27, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Ark’s Back-to-Back Sale: Ark Invest’s Ark Innovation ETF (NYSE: ARKK) and Ark Next Generation Internet ETF (NYSE: ARKW) sold 119,151 and 11,547 shares of Tesla, respectively, on Friday, daily trade information from the company showed. Friday’s disposals totaled 130,698 shares, valued at $24.98 million. On Thursday, Ark’s ARKK and ARKW cumulatively sold 139,000 shares valued at $26.8 million. Wood’s firm divested $51.78 million worth of Tesla stock this week.
Ark has been a buyer of Tesla shares since the stock’s decline late last year. The last sale by the firm ahead of this past week’s liquidation was in early September. 2022. On the other hand, Elon Musk is reportedly handing out stock awards to Twitter employees at a valuation of ~$20 billion. He bought the company for $44 billion last year.
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SVB was finally sold. Well, at least a large portion of it. First Citizens BancShares, a Raleigh-based regional bank, is scooping up SVB’s deposits, loans, and 17 branches that will reopen today under new ownership. About $90 billion of SVB’s assets will remain with the FDIC, which took control of SVB following its epic collapse over two weeks ago. The sale is meant to “instill confidence in the banking system,” the CEO of First Citizens said, and it seems to be working for now: Regional lenders like First Republic Bank are surging premarket.
Posted on March 26, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
Tim Berners-Lee of the WWW
By Staff Reporters
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* Profits are down, and they’re set to plummet even further. (Wired $) * A hedge fund that invested heavily in FTX is shutting down. (FT $) * Tim Berners-Lee thinks crypto is comparable to gambling. (CNBC)
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