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Regulatory

BTCUSD

Anthony Scaramucci criticized President Biden's veto of the crypto custody bill, warning it could have significant repercussions. The bill, H.J.Res. 109, aimed to overturn the SEC's approach to banks and crypto, which currently classifies customers' crypto assets as liabilities. Scaramucci also criticized Sen. Elizabeth Warren and supported Republican Senate candidate John Deaton. Biden expressed willingness to work on a comprehensive regulatory framework for digital assets.

Portfolio Pulse from Shanthi Rexaline

June 02, 2024 | 6:49 pm

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The article highlights the ten large-cap stocks that were the worst performers last week, including MongoDB, Nutanix, DraftKings, Salesforce, Samsara, Celsius Holdings, Agilent Technologies, Snowflake, ServiceNow, and Hormel Foods. The declines were driven by weak guidance, earnings results, tax hikes, and other factors.

Portfolio Pulse from Lekha Gupta

June 02, 2024 | 3:12 pm

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Cathie Wood's Ark Investment Management has withdrawn its plans for a spot-Ether ETF to focus on a spot Bitcoin ETF instead. The ARK 21Shares Bitcoin ETF ranks fourth in assets, trailing BlackRock's iShares Bitcoin Trust. The SEC has approved filings for spot-Ether ETFs, but issuers still need further approval. Ark's Bitcoin ETF saw a significant outflow recently.

Portfolio Pulse from Bibhu Pattnaik

June 02, 2024 | 2:15 pm

LYV

Live Nation confirmed a data breach in a third-party cloud database involving Ticketmaster data. The company does not believe this will have a material impact on its overall business operations or financial condition.

Portfolio Pulse from Charles Gross

June 02, 2024 | 1:07 pm

TCNNF

John Morgan, a prominent attorney and Democratic fundraiser, is promoting Amendment 3 to legalize adult-use cannabis in Florida. The campaign, funded by Smart & Safe Florida, has raised nearly $50 million, mainly from Trulieve Cannabis (OTCQX:TCNNF). Morgan criticized Gov. Ron DeSantis and hinted at a potential run for governor.

Portfolio Pulse from Maureen Meehan

June 01, 2024 | 5:41 pm

GETY

The SEC has charged Robert Scott Murray and Trillium Capital LLC with a fraudulent scheme to manipulate the stock price of Getty Images Holdings Inc (NYSE: GETY) by falsely announcing a buyout offer. Murray has pleaded guilty and agreed to a judgment that includes permanent prohibitions and restrictions on his future activities.

Portfolio Pulse from Anan Ashraf

June 01, 2024 | 3:49 pm

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TSLA

The EV market had a mixed week ending May 31, with Tesla facing modest losses amid weak economic readings. Key events included Tesla's shareholder meeting and recall, Rivian's Q2 warning, Fisker's layoffs, Faraday Future's stock drop, and Lucid's UAE expansion.

Portfolio Pulse from Shanthi Rexaline

June 01, 2024 | 3:03 pm

BTCUSD

ETHUSD

President Joe Biden has vetoed a bipartisan resolution aimed at overturning the SEC's crypto custody guidance, citing the need to protect consumers and investors. The resolution sought to nullify the SEC’s Staff Accounting Bulletin (SAB) 121, which outlines accounting obligations for firms safeguarding crypto-assets. The veto comes amid increased political and regulatory focus on cryptocurrencies like Bitcoin and Ethereum.

Portfolio Pulse from Ananya Gairola

June 01, 2024 | 5:00 am

SMMT

Summit Therapeutics Inc. (NASDAQ:SMMT) announced that its partner, Akeso Inc., received marketing authorization in China for ivonescimab in combination with chemotherapy for 2L+ EGFRm NSCLC based on the HARMONi-A clinical trial. The trial showed significant improvements in progression-free survival and overall response rate. Shares of Summit Therapeutics are currently halted.

Portfolio Pulse from Benzinga Newsdesk

June 01, 2024 | 2:04 am

GWAV

Trading for GWAV was halted at 7:50:00 p.m. ET due to pending news. Investors should stay tuned for further updates.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 11:50 pm