Which jobs will get hit in the AI revolution and Bitcoin is on a historic six-month losing streak.

This is Coin Desk Daily. I'm Jen Sanassi.

Jack Dorsey says the middle manager's job is about to be replaced by artificial intelligence.

The block CEO argues that corporate hierarchy has always existed to solve one problem,

routing information through organizations too large for any single person to oversee.

But now this is something that AI can address.

Jack Dorsey says his company's decision to cut approximately 4,000 of its 10,000 employees

was not cost reduction, but a permanent

restructuring to replace middle managers with AI. However, current and former block employees

are pushing back on this vision. They told The Guardian that roughly 95% of AI generated

code changes still require a human modification and that AI is nowhere near ready to lead

in highly regulated

areas like banking and money transfers.

The New Hampshire Business Finance Authority is set to issue the first rated Bitcoin-backed

bond of its kind, signaling a new intersection of crypto and public finance.

The bonds received a provisional BA2 rating from Moody's, which places them two notches

below investment grade. Moody's has said its rating reflects risks associated with the transaction's

collateral structure and operation, including Bitcoin's volatility. The largest crypto by market

cap is currently hovering around $68,500 and saw six consecutive months of losses.

The last time Bitcoin saw six-month losing streak was back in early 2019, a period that

was immediately followed by five straight months of massive gains.

And the Australian government passed its first comprehensive regulatory framework for digital

...