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A long-inactive Ethereum address transferred 2000 ETH after 8.5 years, coinciding with growing speculation about an ETH ETF. The reactivated wallet's ETH was originally purchased for $0.42 to $1.39, and with ETH's current price at $2,511, the value has soared. BlackRock CEO Larry Fink expressed support for an Ethereum ETF, and venture capitalist Vance Spencer predicted key blockchain milestones, including an ETH ETF and increased institutional adoption. However, TD Cowen anticipates SEC delays in Ethereum ETF decisions until at least May.

Portfolio Pulse from Mehab Qureshi

January 15, 2024 | 7:05 am

BIDU

Baidu Inc's (NASDAQ:BIDU) stock experienced its largest drop since 2022 following a report by the South China Morning Post that linked its AI platform, Ernie, to the People's Liberation Army's AI platform. The report has raised concerns about potential sanctions from the US, which could impact Baidu's business. Despite the popularity of Ernie, Baidu faces intense competition in the AI space, and the military allegations add to the company's challenges.

Portfolio Pulse from Benzinga Neuro

January 15, 2024 | 6:57 am

BZFD

GOOGL

META

MSFT

The IMF warns that AI could influence 40% of global jobs, with advanced economies facing up to 60% of jobs affected. This could worsen income inequality and social tensions. Companies like Buzzfeed Inc are investing in AI, raising job security concerns. The EU is progressing with AI legislation, while the US is still deciding on regulations. Tech giants like Microsoft, Alphabet, and Meta are focusing on AI and cost control, despite business growth.

Portfolio Pulse from Benzinga Neuro

January 15, 2024 | 6:22 am

BLK

FNF

TD Cowen predicts the SEC will delay approval of spot Ethereum ETFs, citing the agency's likely preference to observe Bitcoin ETFs first. The SEC's cautious stance on crypto regulation, as demonstrated by Chair Gary Gensler, supports this forecast. Major firms like BlackRock and Fidelity have shown interest by applying for Ethereum ETFs, despite the SEC's hesitance and the need to classify Ethereum as a commodity.

Portfolio Pulse from Mehab Qureshi

January 15, 2024 | 5:18 am

TSLA

Elon Musk, CEO of Tesla Inc (NASDAQ: TSLA), has tempered expectations regarding the Cybertruck's rollout in China, suggesting that while prototypes could be shipped for display, obtaining road legality for the stainless steel vehicle in China would be very difficult. This comes despite significant interest in the Cybertruck among Chinese consumers, with a group of nearly 500 members with preorders expressing excitement at the prospect of seeing the vehicle. The Cybertruck is currently only available in the U.S. market, with deliveries starting in late November. Additionally, Tesla's chief engineer has indicated that the Cybertruck would face challenges in getting approval in Europe due to safety rules aimed at pedestrian protection.

Portfolio Pulse from Anan Ashraf

January 15, 2024 | 4:17 am

BTCUSD

ETHUSD

The Crypto Fear and Greed Index has shifted to 'neutral' for Bitcoin sentiment, scoring 52 out of 100, after a brief period of 'extreme greed' following the U.S. approval of spot Bitcoin ETFs. The index, which analyzes various market metrics, reflects a cooling of enthusiasm since October 2023. In the past 24 hours, $116.62 million in trader liquidations occurred, with significant losses in cryptocurrency long positions, including $19 million in Bitcoin and over $20 million in Ethereum. Bitcoin's price spiked to $49,000 post-ETF approval but has since retreated, trading at $42,544, down 0.41%.

Portfolio Pulse from Mehab Qureshi

January 15, 2024 | 4:08 am

NVDA

Despite U.S. export restrictions, China's military, government sectors, AI institutions, and universities have continued to acquire NVIDIA Corp (NASDAQ:NVDA) chips, including banned A100, H100, A800, and H800 models. The chips have been sourced through an underground market, with vendors leveraging surplus stock or imports via third countries. Nvidia asserts compliance with export laws and readiness to act against unlawful resales. The U.S. is monitoring Nvidia's new AI accelerators for the Chinese market, while Nvidia explores expansion into other Asian markets like Vietnam.

Portfolio Pulse from Benzinga Neuro

January 15, 2024 | 1:46 am

SPY

Atlanta Fed President Raphael Bostic warned that progress on U.S. inflation is likely to slow and suggested that interest rates should remain on hold until at least summer to prevent a resurgence in price rises, as reported by the Financial Times.

Portfolio Pulse from Charles Gross

January 14, 2024 | 4:36 pm

AAPL

BABA

BAC

JPM

MSFT

WFC

Major indexes ended higher last week, with the S&P 500, Nasdaq, and Dow seeing gains. Inflation rose to 3.4% YoY in December, potentially affecting markets and Fed policies. JPMorgan Chase reported strong earnings, while Bank of America saw revenue decline, Wells Fargo's profits increased, and Citigroup announced job cuts. The SEC approved spot Bitcoin ETFs. Microsoft overtook Apple as the most valuable company, Tesla's sales growth outpaced legacy automakers, and Cathie Wood disclosed a significant personal investment in Bitcoin. Alibaba faced scrutiny from Congresswoman Laurel Lee's stock sale, Solana's price dropped, and Boeing dealt with a 737 MAX 9 incident.

Portfolio Pulse from Michael Cohen

January 13, 2024 | 3:03 pm

ARKK

BLK

GBTC

The SEC has approved spot Bitcoin ETFs from 11 issuers including Grayscale, Ark Investment, BlackRock, VanEck, Wisdom Tree, Fidelity, Invesco Franklin, Hashdex, and Valkyrie. Grayscale's GBTC is now listed on NYSE. The approval is seen as a victory for crypto, with Bitcoin's value surging at the end of 2023. Jesper Toft of GSU Protocol suggests the SEC's actions aim to protect USD dominance, while GSU offers a stable alternative. The EU's MiCA regulations are seen as protective of banks. Crypto's future as a viable alternative to fiat currencies like USD is discussed.

Portfolio Pulse from Justin Roberti

January 13, 2024 | 2:26 pm