👑 Twitter's new She-EO

"Who run the world? Girls."

— Beyoncé

👋 Friends, Rallie here. The crypto and tech newsletter that wants to remind you that Beyoncé is going on tour this summer and there's still time to get tickets.

On the menu:

• 👑 Twitter's new She-EO

• 🗞️ Headlines that hit

• 📈 Refresh: Central bank digital currency

• 💯 Top tweets

The Rallie Recap

👀 Elon Musk says he’s found a CEO to run Twitter and “she” starts soon.

• Earlier today Elon Musk announced that he'll be stepping down as Twitter CEO and that his replacement, an unnamed woman, would start in about six weeks.

• “Excited to announce that I’ve hired a new CEO for X/Twitter. She will be starting in ~6 weeks!” Musk tweeted Thursday afternoon. “My role will transition to being exec chair & chief technology officer, overseeing product, software & sysops.”

• Following the announcement, Tesla shares jumped more than 2%, signalling that investors were pleased with the move — and we are too!

• The news had many speculating who might be taking the top spot, with prominent names being thrown around including former Yahoo CEO Marissa Mayer and former YouTube CEO Susan Wojcicki.

• The announcement didn't exactly come as a shock, as Musk has long said he intended to find a new leader for Twitter — in a Twitter poll started by Musk in December, 57.5% users voted for him to step down as CEO of the social media platform.

📈 We can't wait to find out who 'she' is!

Headlines That Hit

• 📉 Probably not the happiest place on earth today. Disney stock had its biggest decline in six months after the company posted Q1 results that missed analyst estimates.

• 🤖 Working smarter, not harder. Last year we saw record layoffs and, unsurprisingly, Tech’s new business model is ‘do more with less'.

• 💸 Hint, hint. Nudge, nudge. Bitcoin fell below $27K USD on Wednesday for the first time since March.

• 🤣 Well that's rich. JPMorgan Chase CEO, Jamie Dimon, said that investors who short bank stocks and then tweet about it should be punished to the full extent of the law... and it's giving double standard.

• 🚴‍♀️ Can't catch a brake. Peloton stock hit a record low after the company announced a recall of about 2.2M exercise bikes due to a safety hazard posed by the product’s seat.

Rallie Refresh: Central bank digital currency

You may have heard that the Bank of Canada is working on something called a central bank digital currency (CBDC) or a digital Canadian dollar. It doesn't exist yet, but they're getting ready in case one day Parliament and the Government of Canada asks them to issue one.

Until June 19, the Bank of Canada is doing a public consultation on the potential Digital Canadian Dollar and they want your input! To learn more about it and submit your feedback, read this article and take this survey.

In the meantime, here's some info about the CBDC from the Bank of Canada:

• A digital Canadian dollar would be similar to Canadian bank notes, but in digital form; it would be backed by the Bank of Canada, with the added use-case that it could also be used online.

• A digital dollar wouldn't replace cash — as the Bank of Canada would continue to supply bank notes. It would simply be another way to pay.

• People tend to use cash less often these days: most payments are already digital, such as using debit or credit cards. If this trend continues, there may come a time when cash is not widely accepted in day-to-day transactions. That might be the tipping point when a digital dollar could be needed.

Over the next few weeks, we'll be doing a deep-dive into the implications of a central bank digital currency (CBDC) and the ways it could affect your everyday life. Stay tuned for more to come on this topic!

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That's all for today. Stay hungry & we'll catch you next time. ✌️

DISCLAIMER: This is not financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions.