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XRPUSD

The Securities and Exchange Commission (SEC) has filed for an interlocutory appeal, seeking an immediate review of a federal judge’s ruling that XRP isn't a security when sold to the general public. The SEC argues that this ruling could have significant implications for ongoing legal proceedings, including those involving Coinbase Global Inc (NASDAQ:COIN) and Binance. The defense argues that the SEC hasn't substantiated the necessary burden to stretch the Howey test to encompass all of Ripple's XRP distributions.

Portfolio Pulse from AJ Fabino

August 18, 2023 | 8:22 pm

ACAH

Atlantic Coastal Acquisition Corp. (NASDAQ:ACAH) has announced that it will redeem all of its outstanding shares of Class A common stock at a per-share redemption price of approximately $10.40. The company will not be consummating an initial business combination and will cease all operations except for winding up. The company's securities will cease trading on the Nasdaq Stock Market on August 18, 2023, and the public shares will be deemed cancelled as of August 21, 2023.

Portfolio Pulse from Happy Mohamed

August 18, 2023 | 8:21 pm

GLBS

Globus Maritime Limited (NASDAQ:GLBS) has amended its term loan facility with First Citizens Bank & Trust Company, borrowing an additional $25 million and increasing the total loan to $77.25 million. The company has also signed agreements to sell two vessels, the Sky Globe and Star Globe, for $10.7 million and $11.2 million respectively.

Portfolio Pulse from Happy Mohamed

August 18, 2023 | 8:14 pm

URI

United Rentals's (NYSE:URI) short percent of float has fallen 4.99% since its last report, with 2.40 million shares sold short, which is 4.0% of all regular shares available for trading. It would take traders 3.34 days to cover their short positions on average. The company has less short interest than most of its peers, with an average of 4.89%.

Portfolio Pulse from Benzinga Insights

August 18, 2023 | 8:00 pm

BTCUSD

ETHUSD

JPM

JPMorgan analysts have noted that Bitcoin miners are diversifying into the artificial intelligence sector by offering high-performance computing services. This shift has been partially financed by the sale of Bitcoin. Former Ethereum miners are also providing these services following Ethereum's shift from a proof-of-work to a proof-of-stake consensus model. Bitcoin miners are also geographically diversifying, with Russia becoming a preferred location due to its energy surplus and affordable energy resources.

Portfolio Pulse from Murtuza Merchant

August 18, 2023 | 7:54 pm

ETHUSD

The U.S. Securities and Exchange Commission (SEC) is reportedly set to approve Ether futures ETFs, marking a significant win for the cryptocurrency industry. This move could potentially increase the liquidity and stability of Ether, the second-largest cryptocurrency by market cap.

Portfolio Pulse from Happy Mohamed

August 18, 2023 | 7:48 pm

MRK

A significant bearish stance has been taken on Merck & Co (NYSE:MRK) by a large investor or institution, as indicated by unusual options activity. The sentiment among these big-money traders is split, with 31% bullish and 68% bearish. The whales have been targeting a price range from $100.0 to $115.0 for Merck & Co over the last 3 months. Truist Securities and Morgan Stanley have maintained their Buy and Equal-Weight ratings on Merck & Co, respectively, with a price target of $116.

Portfolio Pulse from Benzinga Insights

August 18, 2023 | 7:46 pm

BCHUSD

ETHUSD

LTCUSD

OPUSD

XRPUSD

Exactly Protocol, a decentralized credit market operating on the Optimism network, suffered a loss of over $12 million due to a bridge exploit. The exploit involved attackers funding a contract on the Ethereum network, transferring deposits to Optimism, and then bridging the stolen funds back to Ethereum. The breach coincided with a slump in the broader digital currency sector, with assets like Ripple, Litecoin, and Bitcoin Cash experiencing sharp drops.

Portfolio Pulse from Murtuza Merchant

August 18, 2023 | 7:40 pm

IBM

A significant amount of bearish options activity has been observed for IBM (NYSE:IBM), with 75% of investors opening trades with bearish expectations. The targeted price range for IBM over the last 3 months has been $120.0 to $155.0. The current price of IBM is $141.12, up 0.33%. Analysts have mixed opinions, with price targets ranging from $135 to $160.

Portfolio Pulse from Benzinga Insights

August 18, 2023 | 7:15 pm

WFC

A significant bearish stance has been taken on Wells Fargo (NYSE:WFC) by a large investor, as observed in the options history. The sentiment among these big-money traders is split between 45% bullish and 54% bearish. The whales have been targeting a price range from $25.0 to $50.0 for Wells Fargo over the last 3 months. The current price of WFC is down -0.28% at $42.35. Morgan Stanley and Atlantic Equities have maintained their Overweight rating on Wells Fargo, with a price target of $52.

Portfolio Pulse from Benzinga Insights

August 18, 2023 | 7:15 pm