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US Treasury’s future

Here’s what we have for you today:

• Semi self-driving

• US Treasury’s finance

• New England Celtics

US Treasury digital outlook

US treasury

Future? Under secretary for domestic finance at the Treasury of US, Nellie Liang said the technological development of a CBDC is underway so that, if policymakers give the go-ahead, the project can come to fruition rapidly.

Crypto? Nellie elaborated that a US digital dollar would be legal tender and users could convert it one-for-one with other forms of central bank assets, like paper money or reserves.

But: Associate director for digital currencies at the Atlantic Council, Ananya Kumar said “The technological evolution across the world, with 114 countries exploring their own CBDCs, sometimes in collaboration with each other, can also create greater fragmentation and could potentially impact the dollar’s role as the world’s reserve currency.”

Benefits of owning Boston Celtics

Celtics

Acquisition: In 2002, Wyc Grousbeck led a 20-member group, including his father, that bought the Celtics for $360 million, which sets the team’s current valuation at $4 billion.

Additional: He also launched Cincoro tequila in 2019 with fellow National Basketball Association owners such as Michael Jordan of the Charlotte Hornets. Cincoro has sold nearly 2 million bottles to date, Grousbeck said.

Celtics success: Grousbeck adds, “we are lucky in Boston: All four major pro teams typically sell out our games. The fans have been great supporters of the Celtics, and we thank them. But if a team goes years without doing well, it can definitely impact revenue from tickets, from team sponsors and from local broadcasters”.

Bad news for “self-driving” automakers

self-driving

Public opinion: An AAA study noted a “major increase” in drivers afraid of riding in a self-driving vehicle, with 68% of survey respondents admitting some anxiety about autonomous vehicles. That number’s up from 55% in a similar AAA study released in 2022.

Precaution: “AAA’s survey found that nearly one in ten drivers believe they can buy a vehicle that drives itself while they sleep,” the study cited. “Currently, there is no such vehicle available for purchase by the public that would allow someone to fully disengage from the task of driving.”

The line: While self-driving vehicles are in the pipeline at manufacturers like Tesla and Ford, they’re not available for commercial use yet. Until they do, AAA says the auto industry needs to be transparent with consumers and explain the different levels attached to autonomous vehicles.

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