Streetbeat News

Regulatory

EBAY

eBay Inc. has agreed to pay a $3 million criminal penalty for a 2019 cyberstalking campaign against a Massachusetts couple and for obstructing the subsequent investigation. eBay was charged with stalking and obstruction of justice, and has entered into a deferred prosecution agreement. The company admitted to the facts and will have a corporate compliance monitor for three years. Seven former eBay employees or contractors were convicted, with sentences ranging from home confinement to 57 months in federal prison.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 5:43 pm

REE

REE Automotive has started deliveries of its P7-C electric chassis cab following the receipt of Federal Motor Vehicle Safety Standards and EPA certification, leading to an increase in its share price.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 5:40 pm

BTCUSD

Better Markets CEO Dennis M. Kelleher criticizes the SEC's approval of Bitcoin ETFs, predicting it will 'unleash crypto predators' and increase systemic risks. He describes Bitcoin as a 'worthless, volatile, and fraud-filled financial product' and expresses concerns over inadequate regulation by the CFTC. Despite such criticism, Bitcoin's price surged past $48K, and crypto-related stocks are rallying.

Portfolio Pulse from Khyathi Dalal

January 11, 2024 | 5:36 pm

BITF

BTCM

BTDR

CAN

COIN

MARA

MSTR

RIOT

WULF

Shares of miners and crypto-related stocks are down due to volatility after the SEC approved spot Bitcoin ETFs.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 5:33 pm

BTCUSD

South Korea's Financial Services Commission maintains a stance against recognizing cryptocurrencies as financial assets and prohibits financial institutions from investing in them. Despite the U.S. SEC approving Bitcoin ETFs, South Korea will not amend its laws to allow virtual asset ETFs, believing its financial stability during crypto downturns is due to such restrictions. SEC Chairman Gary Gensler stated that the SEC's approval is limited to cash exchange-traded products holding Bitcoin.

Portfolio Pulse from Murtuza Merchant

January 11, 2024 | 5:26 pm

ACI

Washington State is preparing to file a lawsuit to prevent the merger between Kroger Co. and Albertsons Companies Inc. The state's action adds to the regulatory challenges the deal may face, as it could potentially reduce competition in the grocery sector.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 5:23 pm

SOLO

Trading for SOLO was halted and then resumed at 11:55 AM ET, with updated quotation, news, and resumption times provided.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 4:55 pm

SPY

Fed's Mester emphasized the need for more evidence that the economy is progressing as expected before considering rate cuts. She mentioned that discussions on the balance sheet would start this year, indicating a cautious approach to monetary policy adjustments.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 4:55 pm

META

MTCH

QQQ

WMT

Meta Platforms Inc (META) is criticized by Walmart Inc (WMT) and Match Group Inc (MTCH) for placing their ads next to content sexualizing underage users on Facebook and Instagram. Match Group's CEO contacted Meta's CEO directly, and Walmart demanded immediate action. The issue follows a report on Instagram's algorithms promoting a 'vast pedophile network.' Meta is facing legal challenges and internal concerns over encryption potentially hindering the detection of child abuse. META stock is up 0.05% premarket.

Portfolio Pulse from Anusuya Lahiri

January 11, 2024 | 4:52 pm

SANA

Sana Biotechnology has filed a U.S. patent application (#20240010988) for genetically modified primary cells for allogeneic cell therapy. This filing indicates Sana's ongoing efforts to innovate in the field of cell therapy, which could potentially enhance its intellectual property portfolio and strengthen its position in the biotechnology market.

Portfolio Pulse from Charles Gross

January 11, 2024 | 4:39 pm