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Regulatory

LEAS

SEALSQ announced the launch of SEALCOIN, a new digital token and advanced cryptocurrency protocol, at the Davos Space IoT and Cybersecurity event on January 17. This development could signal SEALSQ's entry into the blockchain and cryptocurrency market, potentially expanding its business model and offerings.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 12:09 pm

APLT

Applied Therapeutics announced the validation of its Marketing Authorization Application (MAA) and the submission of a New Drug Application (NDA) for Govorestat (AT-007) for the treatment of Classic Galactosemia. The submissions are based on positive results from the Phase 3 ACTION-Galactosemia Kids study.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 12:08 pm

IVVD

Invivyd, Inc. (NASDAQ:IVVD) has submitted a request for Emergency Use Authorization (EUA) to the U.S. FDA for its monoclonal antibody candidate VYD222, aimed at preventing COVID-19 in immunocompromised individuals. The submission is supported by positive results from the CANOPY Phase 3 trial and ongoing in vitro activity against variants like JN.1.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 12:05 pm

NA

Nano Labs Ltd (NASDAQ:NA), a Chinese fabless integrated circuit design company, has announced that Citibank N.A., the depositary for the company's ADRs, has issued a notification about the amendment to the deposit agreement and the termination of the ADR facility. The termination will be effective on February 1, 2024. This could affect the holders and beneficial owners of Nano Labs' ADRs.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 12:04 pm

TSLA

Tesla Inc (NASDAQ:TSLA) has begun informing customers that redeeming referral points over $600 will have tax implications. Customers will receive a form 1099 for tax filing if they redeem awards and payouts exceeding this amount in a year. This is in compliance with IRS requirements to track income sources over $600. Tesla's referral program offers credits for referring new customers, which can be redeemed for benefits but not for merchandise or accessories in the online store.

Portfolio Pulse from Anan Ashraf

January 03, 2024 | 11:54 am

GLD

SPY

The U.S. national debt has surpassed $34 trillion, with concerns about its impact on economic growth, government spending, and financial markets. Economists warn of potential crises, and Morgan Stanley's Lisa Shalett recommends shifting to real assets like gold. The SPDR Gold Shares (GLD) rose about 13% in 2023, while the SPDR S&P 500 ETF Trust (SPY) fell 0.56% in a recent session.

Portfolio Pulse from Shanthi Rexaline

January 03, 2024 | 8:48 am

BLK

BTCUSD

BTDR

AllianceBernstein analysts predict Bitcoin (BTC) will reach $80,000 by end of 2024, driven by a spot ETF approval, the halving event, and rising corporate demand. Bitcoin surged 150% in 2023 and started 2024 strong. The SEC is expected to approve a spot Bitcoin ETF by ARK Investments and 21Shares, with BlackRock Inc also likely to receive approval. Spot ETFs could lead to a temporary selloff but are expected to attract institutional inflows, with $15 billion projected in 2024 and 10% of Bitcoin under ETFs by 2028.

Portfolio Pulse from Benzinga Neuro

January 03, 2024 | 8:46 am

BTC-USD

ETH-USD

The infrastructure bill backed by President Biden, which mandates cryptocurrency brokers to report transactions over $10,000 to the IRS, is now in effect. The law aims to reduce the tax gap and requires the submission of client details within 15 days. Coin Center's executive director Jerry Brito expressed concerns about the practical challenges and risks of non-compliance for users, highlighting the difficulties in reporting transactions involving anonymous or decentralized exchanges.

Portfolio Pulse from Mehab Qureshi

January 03, 2024 | 7:04 am

COOL

Noventiq, a company specializing in digital transformation and cybersecurity services, has filed Form F-4 with Corner Growth Acquisition Corp. in preparation for a proposed listing on the Nasdaq stock exchange. This move is a significant step towards Noventiq's entrance into the public market, potentially offering investors a new opportunity in the tech sector.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 6:11 am

NTES

TCEHY

Feng Shixin, a key official in China's gaming regulatory body, has been removed from his position following backlash over proposed gaming regulations. These regulations had previously led to a significant drop in market value for major gaming companies like Tencent Holdings Ltd and NetEase Inc, with nearly $80 billion wiped off their combined market value. The stringent regulations, aimed at curbing spending and gaming incentives, were particularly challenging for smaller developers and the industry as a whole, which saw a contraction in revenue for the first time in 2022. However, following the market slump, Chinese regulators have indicated a potential revision of the rules, leading to a recovery in the shares of the affected companies.

Portfolio Pulse from Benzinga Neuro

January 03, 2024 | 5:58 am