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Circle Internet Financial, the issuer of the USDC stablecoin, is relocating its headquarters from Ireland to the United States amid a market rebound. This move comes as USDC's circulation has increased from $24 billion to $33 billion. The relocation may expose Circle to higher taxes but aligns with recent OECD tax reforms. Circle is backed by major Wall Street firms and cryptocurrency companies.

Portfolio Pulse from Murtuza Merchant

May 15, 2024 | 2:37 pm

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U.S. Federal Reserve Vice Chair for Supervision Michael Barr stated that no decision has been made yet on whether to repropose the 'Basel III Endgame' proposal.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 2:34 pm

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Yield10 Bioscience shares are trading lower after the company announced that it received a final delisting notice from Nasdaq.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 2:28 pm

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Polymarket, a crypto prediction market platform, has secured $70 million in funding led by Peter Thiel's Founders Fund and backed by Ethereum co-founder Vitalik Buterin. Despite regulatory challenges from the CFTC, the platform continues to grow, focusing on non-U.S. markets.

Portfolio Pulse from Murtuza Merchant

May 15, 2024 | 2:27 pm

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The U.S. Justice Department has accused Boeing of violating a 2021 settlement agreement related to the 737 MAX crashes, potentially exposing the company to criminal charges. The allegations include lapses in inspections and falsified records for the 787 Dreamliner. This could lead to extended probation or a guilty plea for Boeing. The case highlights increased scrutiny of corporate probation deals under the Biden administration.

Portfolio Pulse from Shivani Kumaresan

May 15, 2024 | 2:00 pm

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President Biden has announced that his top economic priority is fighting inflation and lowering costs. His plan includes building two million homes, lowering prescription drug prices, and urging grocery chains to reduce prices.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 1:44 pm

SPY

President Biden has urged grocery chains to reduce prices for consumers, aiming to alleviate the financial burden on households. This call to action may impact the stock prices of major grocery retailers and related ETFs.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 1:41 pm

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President Biden commented on the April Consumer Price Index (CPI) report, stating that prices are still too high. This indicates ongoing inflation concerns.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 1:39 pm

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Pulmatrix, Inc. (NASDAQ:PULM) announced the publication of clinical results for its orally inhaled DHE (PUR3100) for acute migraine in the peer-reviewed journal Headache: The Journal of Head and Face Pain. The study showed that PUR3100 has rapid systemic pharmacokinetics and improved safety and tolerability compared to intravenously administered DHE. The FDA has accepted an IND application for a Phase 2 study, making PUR3100 Phase 2-ready.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 1:31 pm

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Cresco Labs Inc. reported its Q1 2024 financial results, highlighting a 10x increase in operating cash flow year-over-year. The company maintained flat revenue at $184 million, improved its adjusted gross profit by 7%, and reduced adjusted SG&A expenses by 24%. Cresco also retained its No.1 market share in Illinois, Pennsylvania, and Massachusetts. CEO Charles Bachtell expressed optimism about potential federal rescheduling of cannabis.

Portfolio Pulse from Jelena Martinovic

May 15, 2024 | 1:25 pm