Streetbeat News

Assets

EDIT

Editas Medicine's cash, cash equivalents, and marketable securities as of September 30, 2023, were $446.4M. This is expected to provide a cash runway into Q3 of 2025.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 11:04 am

BTCUSD

Three Bitcoin wallets, dormant since the Satoshi period and last active six years ago, have transferred Bitcoins amounting to around $230 million. The wallets have a similar history, with their last activity recorded on Nov. 5, 2017. The Bitcoin in these wallets dates back to July 2011 and is associated with F2Pool, a Bitcoin mining pool. This massive transfer comes just after the BTC price reached a new yearly high, surpassing $35,000.

Portfolio Pulse from Mehab Qureshi

November 03, 2023 | 9:50 am

BTCUSD

Argentine Presidential candidate Sergio Massa has proposed a plan to mine Bitcoin using surplus gas from the Vaca Muerta oil fields. The proposal has sparked debate within the country's cryptocurrency community, with some arguing that the government should focus on improving conditions for private mining ventures rather than direct involvement. The plan indicates growing mainstream acceptance of Bitcoin in Argentina, but local crypto enthusiasts agree that the risks of government-backed Bitcoin mining outweigh the potential benefits.

Portfolio Pulse from Benzinga Neuro

November 03, 2023 | 9:45 am

GBTC

ARK Investment Management CEO Cathie Wood has advocated for Bitcoin as a defense against deflation over the next decade. She perceives Bitcoin as 'digital gold' and forecasts its growth alongside breakthrough technologies. Wood's firm, in partnership with 21Shares, has applied for a Bitcoin ETF and has invested in the Grayscale Bitcoin Trust (GBTC), although they sold some of their GBTC holdings last month. Wood's firm previously sold GBTC units worth about $6.05 million in October 2023, as Bitcoin rallied about 14% amid hopes of regulatory approval of a spot Bitcoin ETF.

Portfolio Pulse from Mehab Qureshi

November 03, 2023 | 9:44 am

NEXI

Neximmune's board of directors has approved the liquidation and wind-up of the company, subject to stockholder approval. The company is also pursuing alternatives to maximize the value of the business and its assets. A special meeting of the stockholders will be called to seek approval of the plan of dissolution.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 7:44 am

EWG

Germany's trade balance for September was reported at 16.5 billion, slightly higher than the estimated 16.3 billion but lower than the revised prior figure of 17.7 billion.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 7:24 am

AMZN

Amazon.com Inc (NASDAQ:AMZN) founder Jeff Bezos is moving from Seattle to Miami, Florida. The decision was influenced by his parents' recent move to Miami and the shifting operations of his space venture, Blue Origin, to Cape Canaveral, Florida. Bezos founded Amazon in Seattle and transformed the city into a technology hub. Despite stepping down as CEO in July 2021, Amazon remains the city's largest private employer.

Portfolio Pulse from Shanthi Rexaline

November 03, 2023 | 6:12 am

BTCUSD

SQ

Block Inc (NASDAQ:SQ) reported a 37.5% growth in Bitcoin revenue to $2.42 billion in Q3, surpassing analyst expectations. The company's gross profit from Bitcoin rose to $44 million, up from $36 million the previous year. The value of Bitcoin holdings in its corporate treasury was $216 million, exceeding their book value by $114 million. Block's total revenue grew 24% YoY to $5.62 billion, with Bitcoin revenue accounting for 43% of the total. The company's share price surged in after-hours trading.

Portfolio Pulse from Mehab Qureshi

November 03, 2023 | 4:54 am

RIVN

Rivian (NASDAQ:RIVN) has hired former Mercedes-Benz executive Arnhelm Mittelbach as the first manager of its upcoming Georgia plant. The plant, set to commence construction next year, will produce Rivian’s next-gen R2 products, which will be priced more affordably than the current models. The first production phase of the new plant is expected to begin next year, with an estimated annual capacity of 200,000 once fully operational. Rivian plans to ramp up to a 400,000 annual EV capacity by the end of the decade.

Portfolio Pulse from Benzinga Neuro

November 03, 2023 | 2:30 am

BITO

EETH

ETHUSD

ProShares is launching the ProShares Short Ether Strategy (SETH), an ETF that delivers the inverse of the daily performance of the Standard & Poor's CME Ether Futures Index. The ETF is designed to appeal to bearish investors and is tied to futures contracts on Ethereum. The ETF will trade on the NYSE's Arca. ProShares has previously launched three Ethereum ETFs, including the ProShares Ether Strategy ETF (EETH), which averaged around 8,660 shares daily in its first month.

Portfolio Pulse from Khyathi Dalal

November 02, 2023 | 10:01 pm