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BTCUSD

Bankrupt cryptocurrency exchange FTX has reportedly paid nearly $750,000 to former NBA player Shaquille O’Neal, along with other celebrities, as part of its marketing efforts. The payments were disclosed in court documents related to FTX's ongoing bankruptcy proceedings. Several of these celebrities, including O’Neal, are already embroiled in lawsuits filed by FTX creditors over their promotion of the company. FTX’s current management is exploring strategies to reclaim the funds paid to promoters to balance its significant debts.

Portfolio Pulse from Mehab Qureshi

September 11, 2023 | 9:04 am

NONOF

The family of a man who committed suicide is seeking a warning label on the weight loss drug Ozempic, claiming it contributed to his death. The man's mood changes were linked to his use of the Type 2 diabetes medicine. The FDA and the drug’s manufacturer, Novo Nordisk (OTC:NONOF), are monitoring the safety of the drug and will take appropriate actions if a new safety signal for suicidal ideation/behavior is identified.

Portfolio Pulse from Benzinga Neuro

September 11, 2023 | 8:40 am

BTCUSD

COIN

Coinbase CEO Brian Armstrong has criticized the SEC's approach towards cryptocurrencies, suggesting that a change in SEC leadership could help resolve the ongoing dispute between Coinbase and the SEC. Armstrong maintains that Coinbase has strong relationships with the SEC staff and commissioners, and remains optimistic that clarity regarding the operations of the US crypto industry will eventually be achieved. The SEC filed a lawsuit against Coinbase in June as part of its crackdown on the cryptocurrency market.

Portfolio Pulse from Mehab Qureshi

September 11, 2023 | 5:20 am

BTCUSD

The U.S. Department of Justice (DOJ) has taken legal action to reclaim $5.2 million in Bitcoin (CRYPTO: BTC) from a teenage hacker, Ahmad Wagaafe Hared, who stole the cryptocurrency from crypto executives in 2016. The stolen Bitcoin was obtained as part of a SIM-swapping scheme orchestrated by Hared and two co-conspirators.

Portfolio Pulse from Mehab Qureshi

September 11, 2023 | 3:20 am

DIS

Walt Disney Co (NYSE:DIS) has proposed a $9.5 million settlement for a class-action lawsuit led by Jenale Nielsen, who purchased a Dream Key pass for Disneyland Resort in Anaheim, Calif. Nielsen discovered that despite the park's promise of no blackout dates, many days in November 2021 were unavailable. The settlement, which is pending preliminary judicial approval, would provide individual compensations of $67.41 to over 100,000 members of the class-action suit.

Portfolio Pulse from Bibhu Pattnaik

September 10, 2023 | 8:16 pm

AAPL

DIS

NKLA

TSLA

Major indices faced a challenging week with the Dow, Nasdaq, and S&P experiencing declines. WTI crude hit a 10-month high due to Saudi Arabia and Russia's decision to extend production cuts, sparking inflation and interest rate concerns. Tesla is returning to the Detroit Auto Show, emphasizing its dominant position in the EV market. Goldman Sachs reduced its U.S. recession risk to 15%, citing strong economic fundamentals. Shiba Inu's Shibarium surpassed 1M wallets two weeks post-launch. Daniel Niles plans to short Apple stock due to potential threats from Huawei's new Mate60 Pro and China's expanding ban on foreign phones. Nikola Corp's semi truck's lithium-ion battery caught fire, marking the company's third such incident this year. Disney modified its lawsuit against Florida Governor Ron DeSantis, focusing solely on its "First Amendment" claim.

Portfolio Pulse from Michael Cohen

September 09, 2023 | 4:51 pm

GOOG

GOOGL

META

A recent ruling by the 5th U.S. Circuit Court of Appeals has granted the Biden administration increased leeway in its interactions with social media companies. The ruling restricts government officials from coercing or encouraging social media companies to remove content deemed as misinformation. However, it temporarily lifted restrictions on the Biden administration’s communication with social media companies for 10 days. The lawsuit had accused Meta Platforms Inc.'s Facebook, Alphabet Inc.'s YouTube, and Twitter of censorship due to government pressure and threats of regulatory action.

Portfolio Pulse from Ananya Gairola

September 09, 2023 | 8:22 am

META

Meta Platforms Inc. (NASDAQ:META) has been ordered by a U.S. District Judge to face a class action lawsuit alleging violations of medical privacy rules. The lawsuit claims that Meta's tracking tool, Meta Pixel, captured and relayed confidential healthcare data. The legal proceedings started in June 2020 when it was revealed that at least 664 healthcare providers were using Meta Pixel.

Portfolio Pulse from Benzinga Neuro

September 09, 2023 | 7:10 am

GOOG

GOOGL

A Japanese YouTuber, Shinobu Yoshida, has been sentenced to two years in prison and fined ¥1 million for monetizing gameplay videos on Alphabet Inc's YouTube without permission from publishers. This is the first conviction of its kind in Japan. Yoshida uploaded videos related to the visual novel 'Steins;Gate: My Darling’s Embrace' and summaries of episodes from the 'Steins;Gate' and 'Spy x Family' anime shows, earning revenue from them, which violates Japanese copyright law.

Portfolio Pulse from Franca Quarneti

September 08, 2023 | 9:01 pm

AAPL

FTTUSD

Apple Inc. has reportedly spent $5 million to acquire the rights to Michael Lewis' upcoming book about the journey of FTX's co-founder and former CEO Sam Bankman-Fried. The book, titled 'Going Infinite: The Rise and Fall of a New Tycoon,' is set to be published on October 3, coinciding with the start of Bankman-Fried's trial in New York. There are also discussions about a potential documentary by director Nanette Burstein.

Portfolio Pulse from Murtuza Merchant

September 08, 2023 | 8:14 pm