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The Federal Trade Commission (FTC) has announced that Celsius and its affiliates have agreed to a judgment of $4.7 billion. This judgment will be suspended to allow Celsius to return remaining assets to consumers. The FTC has also permanently banned Celsius Network from handling consumers' assets and charged three former executives.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 1:56 pm

BTCUSD

ETHUSD

SPY

The Federal Trade Commission (FTC) has reached a settlement with cryptocurrency platform Celsius Network over allegations of duping consumers into transferring their cryptocurrency into the platform. Former executives of Celsius are also charged with squandering billions in user deposits.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 1:55 pm

SPY

USO

VGK

Russia's Energy Minister Alexander Novak has stated that Russia maintains its oil production forecast for 2023 at 515 million tonnes, according to Reuters citing Tass.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 1:52 pm

BITQ

Bitwise Asset Management's Crypto Industry Innovators ETF (BITQ) has surpassed $100 million in assets under management. The ETF, which provides equity exposure to the bitcoin and digital asset sector, has seen strong performance amid growing investor interest in the crypto sector. BITQ was up more than 135% over the same period as of June 30, 2023.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 1:46 pm

BTCUSD

ETHUSD

MATICUSD

Polygon (CRYPTO: MATIC) has proposed an upgrade of its native asset, MATIC, to POL. The new token, POL, is designed to become the primary tool for the growth of the Polygon ecosystem. The upgrade from MATIC to POL requires sending MATIC to the upgrade smart contract, which will automatically return the equivalent amount of POL. Token holders will be given ample time, possibly four years or more, to upgrade.

Portfolio Pulse from Murtuza Merchant

July 13, 2023 | 1:40 pm

DEN

XOM

Exxon Mobil Corp (XOM) has announced a deal to acquire Denbury Inc (DEN) for $4.9 billion, which will boost its Low Carbon Solutions business. The acquisition will give XOM ownership of the largest CO2 pipeline network in the U.S. and DEN's Gulf Coast and Rocky Mountain oil and natural gas operations. The transaction is expected to close in Q4 2023.

Portfolio Pulse from Lekha Gupta

July 13, 2023 | 1:33 pm

CODX

Co-Diagnostics, Inc. (NASDAQ:CODX) has been awarded $1.2 million in funding from the National Institutes of Health (NIH) as part of the Rapid Acceleration of Diagnostics (RADx®) Tech program. The funds will be used to complete the development of its flu A/B, COVID-19, and RSV multiplex test on the Co-Dx PCR Home™ testing platform, which is currently undergoing clinical evaluations in anticipation of its submission to the FDA.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 1:30 pm

WAVE

Eco Wave Power has received a grant from the European Union for its new wave energy power station in Jaffa Port, Israel. The size of the grant was not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 1:28 pm

JPM

J.P. Morgan has announced its intention to participate in Russian retailer Magnit's public tender offer. The bank also stated that shares in Magnit linked to client assets 'may be missing', according to a document cited by Reuters.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 1:22 pm

MCD

Carlyle Group Inc (CG) and Trustar Capital are reportedly planning to sell part of their stakes in McDonald's Corp (MCD) operations in Hong Kong and mainland China. The private equity firms aim to raise $4 billion from wealth funds. The move would provide a partial exit for the firms after they bought the business six years ago. The deal values the business at up to $10 billion, including debt.

Portfolio Pulse from Akanksha Bakshi

July 13, 2023 | 1:18 pm