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BTCUSD

ETHUSD

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin fell after the Fed left rates unchanged, signaling a temporary setback. Meanwhile, a new ETF allows investment in major tech stocks, and Binance faces a lawsuit for allegedly aiding terrorists. In the US, market sentiment declined following the Fed's decision, impacting stocks and the Dow. Globally, tensions with Iran and China's cyber activities raise concerns. Economic indicators suggest a looming recession, while in tech, Apple's new products and partnerships draw attention. The electric vehicle sector sees advancements and legal challenges for Tesla.

Portfolio Pulse from Akanksha Bakshi

February 01, 2024 | 1:22 pm

SIRI

TSLA

Richard Tornetta, a thrash metal drummer and small Tesla investor, has legally challenged Elon Musk's $56 billion pay package, leading to a Delaware court questioning its necessity. Tornetta, holding just nine shares, filed a shareholder derivative lawsuit aiming to rescind Musk's 2018 stock grants, arguing shareholders were inadequately informed. The lawsuit highlights Musk's significant influence over the pay package's terms and approval process. Additionally, Tornetta was involved in a legal case against the sale of Pandora Media to Sirius XM, which settled in 2023.

Portfolio Pulse from Ramakrishnan M

February 01, 2024 | 12:36 pm

DLTR

Dollar Tree Inc. (NASDAQ:DLTR) and WanaBana are facing a lawsuit filed by a North Carolina family, alleging their children suffered lead poisoning from WanaBana applesauce pouches sold by Dollar Tree. The lawsuit claims the companies knew of the product's dangers. The CDC has received 404 reports of possible lead poisoning from the pouches across 43 states. This legal issue arises amid scrutiny of Dollar Tree's product safety measures and could impact its reputation and financial performance.

Portfolio Pulse from Benzinga Neuro

February 01, 2024 | 11:33 am

AAPL

GOOG

META

MSFT

Meta Platforms Inc. (META) is criticized for using copyright law to protect its Llama AI model while opposing similar protections for others. The company, along with Google (GOOG, GOOGL) and Microsoft (MSFT), argued against copyright protections for AI training materials but sought to protect its own AI model when leaked. This has sparked a debate on AI and copyright law, with companies like Microsoft, OpenAI, and Apple (AAPL) advocating for more protections for AI outputs.

Portfolio Pulse from Ananya Gairola

February 01, 2024 | 11:24 am

HSAI

Hesai Technology Co., Ltd. (NASDAQ:HSAI) has clarified that it has no military ties after being mistakenly added to the U.S. Department of Defense's 'Chinese Military Companies' list. Hesai emphasizes that its lidar products are solely for civilian use and have never been designed for military applications. The company is publicly traded and privately owned with an independent corporate governance structure. Hesai's products are classified as EAR99, indicating non-suitability for military use, and the company does not expect significant business disruption from this listing as it does not sell to the U.S. Department of Defense or any military entities.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 7:55 am

ETH-USD

SOL-USD

Balaji Srinivasan proposed using Decentralized Autonomous Organizations (DAOs) on Ethereum and Solana blockchains as alternatives to traditional corporate structures in Delaware. This suggestion follows Elon Musk's legal challenges in Delaware, including a court ruling that invalidated his $55.8 billion compensation package from Tesla. Srinivasan's proposal highlights DAOs as modern, transparent, and democratic business models, with recent legislation in Wyoming, Tennessee, and the Marshall Islands recognizing DAOs.

Portfolio Pulse from Mehab Qureshi

February 01, 2024 | 7:40 am

TSLA

Tesla Inc (NASDAQ:TSLA) is being sued by 25 California counties for allegedly mishandling hazardous waste at its state facilities. The lawsuit claims Tesla improperly disposed of waste, failed to label hazardous materials correctly, and did not adequately train employees in waste handling. This legal challenge adds to Tesla's current issues, including a Delaware court ruling against CEO Elon Musk's $55 billion compensation plan. Despite these issues, Tesla's stock rose after hours on news of a planned new U.S. battery plant expansion using equipment from CATL.

Portfolio Pulse from Benzinga Neuro

February 01, 2024 | 7:37 am

TSLA

A Delaware court has dismissed Tesla CEO Elon Musk's $56 billion pay package, leading to potential renegotiations under investor scrutiny. Musk may appeal the decision, and if upheld, he must return $51 billion worth of unexercised options from his 2018 contract. The ruling calls for new independent board members to oversee Musk. Despite the setback, Musk is unlikely to leave Tesla due to his significant stake in the company. Additionally, Musk has polled about incorporating Tesla in Texas, with a majority favoring the move, but it's unclear if he will act on this.

Portfolio Pulse from Anan Ashraf

February 01, 2024 | 6:25 am

META

During a Senate Judiciary Committee hearing on children's safety online, tech CEOs, including Meta Platforms Inc.'s (META) Mark Zuckerberg, faced criticism for failing to effectively self-police harmful content. Zuckerberg apologized for the impact on children. The hearing discussed potential legislation, with Meta's CEO endorsing the STOP CSAM Act but not the EARN IT Act. The hearing is seen as a key moment in the ongoing debate over online child safety and regulation.

Portfolio Pulse from Ananya Gairola

February 01, 2024 | 5:54 am

TSLA

Elon Musk announced that Tesla will hold a shareholder vote on moving its state of incorporation from Delaware to Texas, following a Twitter poll where 87.1% voted in favor of the move. This comes after a Delaware judge called Musk's $56 billion pay package 'an unfathomable sum' and revoked it. Musk has criticized Delaware's incorporation laws and suggested Nevada or Texas as better options for incorporation.

Portfolio Pulse from Anan Ashraf

February 01, 2024 | 5:29 am