Streetbeat News

Legal

BTCUSD

ETHUSD

Three individuals have been indicted in connection with a conspiracy to hack the cryptocurrency exchange FTX, resulting in a theft of $400 million. The indictment could have implications for the broader cryptocurrency market and investor confidence in digital assets.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 4:40 pm

FFNTF

FLGC

MMNFF

OGI

SBIG

January saw significant executive and board changes in the cannabis industry. Flora Growth Corp.'s CEO, Clifford Starke, was elected chairman of the U.S. Hemp Roundtable. 4Front Ventures and The Cannabist Company Holdings announced new CEOs. Organigram Holdings and other companies made board appointments, while MedMen Enterprises and BZAM Ltd. saw departures. Trulieve Cannabis appointed a new COO, and other companies expanded their executive teams.

Portfolio Pulse from Jelena Martinovic

February 02, 2024 | 4:01 pm

EDVMF

Endeavour Mining PLC (OTC:EDVMF) has resumed operations at its Hounde gold mine in Burkina Faso after resolving an 11-day strike. The strike had significant financial impacts on the company, with operations at this key asset temporarily halted. The resolution came after a court in Burkina Faso ordered an end to the strike and the expulsion of protesters. Despite challenges, including political instability in Burkina Faso and increased mining royalty rates, the company remains committed to its operations in the region. The Hounde mine is a critical asset for Endeavour, accounting for nearly 30% of its total gold production in 2023. The company also faces legal investigations related to the firing of its CEO for misconduct.

Portfolio Pulse from Stjepan Kalinic

February 02, 2024 | 3:45 pm

XRPUSD

Binance CEO Richard Teng announced the freezing of $4.2 million in XRP tokens linked to a $120 million hack. The XRP Ledger developers alerted exchanges about the hack, leading to Binance's action to support Ripple's efforts in retrieving the funds. The stolen tokens originated from a wallet belonging to Ripple Labs executive chairman Chris Larsen. Blockchain investigator ZachXBT reported that 213 million XRP tokens were stolen and dispersed across various exchanges.

Portfolio Pulse from Murtuza Merchant

February 02, 2024 | 3:10 pm

NGL

Tennessee Representative Mark Green reported selling NGL Energy Partners (NYSE:NGL) stock valued between $100,001 - $250,000 on February 1, 2024. NGL Energy Partners shares are slightly down at $5.83. Congressional transactions, such as this, are monitored under the STOCK Act to prevent insider trading and require timely public disclosure.

Portfolio Pulse from Benzinga Insights

February 02, 2024 | 3:05 pm

SNCR

The former CFO of Synchronoss Technologies, Karen Rosenberger, and financial controller Joanna Lanni were found liable for fraud by a New York District Court, involving false financial statements and accounting misconduct. Additionally, Comer Capital Group and its managing partner were charged with breaching fiduciary duty in a $6M bond offering for the Harvey Public Library District, leading to excessive interest payments. FinCEN issued alerts regarding the misuse of non-profits for financing violence in the West Bank and identified Al-Huda Bank as a primary money laundering concern linked to Iranian militias.

Portfolio Pulse from Neil Dennis

February 02, 2024 | 3:03 pm

CMPS

Psilocybin, a substance found in certain mushrooms, is currently a Schedule I substance under the U.S. Controlled Substances Act, indicating a high potential for abuse and no accepted medical use. Despite this, scientific evidence is growing in support of its benefits for treating various health conditions, leading to clinical trials by companies like COMPASS Pathways (NASDAQ:CMPS). The psychedelic drugs market is predicted to reach $6.4 billion by 2034. Oregon and Colorado have decriminalized the use, possession, and gifting of psilocybin mushrooms, with both states also legalizing medical provision. Other states and localities have passed decriminalization measures, but commercialization remains largely prohibited, except through specific exemptions like religious use.

Portfolio Pulse from Lara Goldstein

February 02, 2024 | 2:49 pm

AAPL

AMZN

GOOGL

META

PUB

TSLA

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin remain strong amid US banking concerns. US charges individuals in a $400M hack, and arrests are made related to BTC-e for money laundering. Apple's Q1 results lead to a pre-market drop, while Meta's stock surges 16% premarket. Investor optimism boosts the Dow by over 350 points. Global demand for AI infrastructure is highlighted by Nvidia's CEO. Amazon continues layoffs despite profits, and Google expands AI features globally. Tesla recalls Cybertrucks, and GM focuses on EV production. Publicis settles in opioid marketing case, and commercial real estate issues affect regional banking stocks.

Portfolio Pulse from Akanksha Bakshi

February 02, 2024 | 2:39 pm

GTBIF

New York's cannabis program faces criticism for its slow rollout and operational hurdles, notably affecting Candice LoPizzo's Bud & Honey due to proximity issues with a Green Thumb Industries (OTC:GTBIF) dispensary. Virginia considers aligning cannabis penalties with alcohol, sparking debate. Kentucky's HB 420 bill for cannabis legalization faces GOP opposition. Florida and Hawaii are reviewing cannabis legislation, with concerns over patient access and social justice. Benzinga Cannabis Conferences are set for Los Angeles, focusing on industry growth and innovation.

Portfolio Pulse from Nicolás Jose Rodriguez

February 02, 2024 | 2:32 pm

CSCO

PANW

Palo Alto Networks, Inc. (PANW) has been ordered to pay $151.5 million to Centripetal Networks for violating multiple patents, as per a jury ruling in the Eastern District of Virginia federal court. Despite the verdict, PANW shares edged higher in premarket trading. The company plans to pursue post-trial actions, disagreeing with the jury's decision. This follows a similar lawsuit where Cisco Systems, Inc. (CSCO) was victorious against Centripetal Networks.

Portfolio Pulse from Nabaparna Bhattacharya

February 02, 2024 | 2:25 pm