Streetbeat News

Regulatory

ARKB

FBTC

KRE

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin are trading higher amid fears of U.S. regional banking instability. The SPDR S&P Regional Banking ETF fell 3.12%, reflecting concerns over increased regulatory scrutiny for regional banks. Analysts predict a potential market peak for Bitcoin by October 2025, following historical trends of post-halving rallies. Cathie Wood of Ark Invest highlighted crypto assets' appreciation during banking crises as a hedge against fiat assets. Bitcoin ETFs, including ARKB and FBTC, continue to see significant volume despite recent market corrections.

Portfolio Pulse from Shivdeep Dhaliwal

February 02, 2024 | 6:28 am

EWA

Australia's Producer Price Index (PPI) for the quarter increased by 0.9%, which is lower than the estimated 1.9% and the previous quarter's 1.8%. This indicates a slowdown in the growth of prices at the producer level in Australia.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 5:36 am

BTCUSD

DOGEUSD

ETHUSD

Sen. Cynthia Lummis (R-Wyo.) expressed optimism about the passage of U.S. stablecoin legislation within the first half of 2024, highlighting ongoing bipartisan discussions. The legislation aims to regulate stablecoins like USDT and USDC, crucial for crypto market transactions. Despite challenges in reaching consensus, advancements such as the SEC's approval of spot bitcoin ETFs bolster the case for legislation. Lummis, a pro-crypto advocate, has been actively pushing for crypto-related bills and statements.

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 3:56 am

BTC-USD

DOGE-USD

ETH-USD

Aliaksandr Klimenka, associated with the defunct BTC-e cryptocurrency exchange, has been arrested and charged by the U.S. DOJ for laundering over $4 billion from criminal activities. His arrest in Latvia and subsequent charges highlight a broader crackdown on illegal cryptocurrency activities, including efforts by U.S. Senator Elizabeth Warren and international actions like Taiwan's new anti-money laundering bill.

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 3:47 am

TSLA

Elon Musk, CEO of Tesla Inc (NASDAQ: TSLA), has urged companies to change their state of incorporation from Delaware, citing the state's resistance to such changes as seen in the case of John Malone. Musk highlighted Delaware's attempt to prevent Malone from moving to Nevada and suggested companies consider Nevada or Texas instead. This comes after a Delaware judge revoked Musk's $56 billion pay package, leading to Musk's recommendation against incorporating in Delaware. Tesla is considering moving its state of incorporation to Texas, where it is physically headquartered, following a shareholder vote influenced by a Twitter poll.

Portfolio Pulse from Anan Ashraf

February 02, 2024 | 3:05 am

INTC

Intel Corporation has delayed its $20 billion chip-manufacturing project in Ohio, initially set for next year, to late 2026 due to market challenges and slow government funding. The project, aimed at expanding domestic chip production and reducing reliance on Asian factories, aligns with the Biden administration's $53 billion Chips Act. Despite the delay, Intel remains committed to the project, which is expected to create 3,000 new factory jobs. The delay follows Intel's recent earnings report, which showed a 10% year-over-year revenue increase but disappointing guidance.

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 1:34 am

HOLX

Hologic announced that its new Genius Digital Diagnostics System, which includes the Genius Cervical AI Algorithm, has received clearance from the FDA. This development marks a significant advancement in the field of cervical health diagnostics, potentially improving the accuracy and efficiency of cervical cancer screenings.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 10:41 pm

TYRA

Tyra Biosciences announced that the FDA has granted Rare Pediatric Disease Designation to TYRA-300, an oral FGFR3 selective inhibitor, for the treatment of Achondroplasia, the most common form of dwarfism which currently has limited therapeutic options.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 10:33 pm

TD

TD Bank Group announced it will make presentation changes, potentially affecting how financial information is reported and perceived.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 9:50 pm

CABA

Cabaletta Bio announced that the FDA has granted Orphan Drug Designation to CABA-201 for the treatment of myositis, a significant step forward in the development of this potential treatment.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 9:40 pm