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Cameron Winklevoss, co-founder of cryptocurrency exchange Gemini, criticized the Biden administration's stance on cryptocurrencies. This comes as a recent poll shows 2024 Democratic presidential contender Robert F. Kennedy Jr. gaining favorability. Winklevoss's criticism coincides with a legal development involving the SEC, which had filed a lawsuit against Ripple Labs. However, a court ruling determined that XRP, the cryptocurrency in question, does not qualify as a security. XRP was trading at $0.079, up 65% in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

July 14, 2023 | 10:31 am

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Over $33M worth of XRP shorts were liquidated in the past 12 hours following a court ruling in favor of Ripple Labs. The ruling stated that the XRP token is not considered a security. This led to a surge in whale activity on the XRP network, with 637 transactions valued at over $100,000 each recorded in the last 24 hours. XRP's price increased by 62% in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

July 14, 2023 | 4:23 am

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A U.S. District Judge ruled that the sale of the XRP token by Ripple is not an offer of “investment contracts”, and therefore not a security. This ruling has led to a significant increase in the price of XRP and has resulted in cryptocurrency exchanges, including Coinbase Global, adding the token back after prior delistings. The case between the SEC and Ripple remains active.

Portfolio Pulse from Chris Katje

July 13, 2023 | 9:09 pm

DIS

The Walt Disney Company (NYSE:DIS) has been in a persistent conflict with Florida Governor Ron DeSantis over the Florida Parental Rights in Education Act. The governor's wealth has increased significantly since his election, with a net worth of $1.17 million at the end of 2022. Disney shares hit all-time highs in March 2021 during the COVID-19 pandemic, and there is optimism about a return to these highs with former CEO Bob Iger back at the helm. Investors purchasing 5,794.66 shares of Disney today could see their investment value soar to $1.17 million if Disney shares reach their all-time high of $201.91 again.

Portfolio Pulse from Chris Katje

July 13, 2023 | 9:09 pm

HIMS

Healthcare company Hims & Hers Health (NYSE:HIMS) is under scrutiny by short seller Spruce Point Capital, which has raised several red flags about the company's legal structure and business practices. Spruce Point questions the operations of Hims & Hers, suggesting potential legal and business repercussions. Despite the criticism, shares of Hims & Hers were up 5.31% to $9.12 on Thursday. The company's shares have risen 69% in the last year and 45% year-to-date in 2023.

Portfolio Pulse from Chris Katje

July 13, 2023 | 8:13 pm

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Charles Gasparino will interview former DOJ Antitrust Chief Makan Delrahim on the Microsoft-Activision Blizzard deal, potential acquisition of Paramount, and the Ripple case.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 7:54 pm

MSTR

MicroStrategy Incorporated (NASDAQ:MSTR) shares surged higher after a U.S. judge ruled that Ripple (XRP/USD) sales do not constitute an offer of investment contracts. The legal battle between Ripple and the SEC dates back to 2020. Shares of MSTR were up 11.7% at $462.00 at the time of publication.

Portfolio Pulse from Ryan Gustafson

July 13, 2023 | 7:54 pm

COIN

Coinbase Global, Inc. (NASDAQ:COIN) shares surged after a U.S. judge ruled that Ripple (XRP/USD) sales do not constitute an offer of investment contracts. This decision is likely to impact the entire crypto industry. Coinbase also received two price target changes from Barclays and B of A Securities. Shares of COIN were up 23.5% at $106.16.

Portfolio Pulse from Ryan Gustafson

July 13, 2023 | 7:48 pm

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XRPUSD

A court ruling in the Ripple vs. SEC case determined that Ripple's sales cannot be classified as investment contracts, sparking reactions from the crypto community. The ruling is seen as a significant win for Ripple and the broader crypto industry. Following the ruling, tokens deemed unregistered securities by the SEC, including Solana, Cardano, and Polygon, posted double-digit gains.

Portfolio Pulse from Murtuza Merchant

July 13, 2023 | 7:45 pm

XRPUSD

Shares of Block, Inc. (NYSE:SQ) are rising after a U.S. judge ruled that Ripple (CRYPTO: XRP) sales do not constitute an offer of investment contracts. This ruling is likely to impact the entire crypto industry and many companies facing similar legal challenges. SQ shares were up 7.03% at $76.23 at the time of publication.

Portfolio Pulse from Ryan Gustafson

July 13, 2023 | 7:29 pm