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Bank of Korea Governor Rhee Chang-yong expressed concerns about the impact of stablecoins like USDT and USDC on central banking operations at a conference. He highlighted the risks they pose to financial stability and the effectiveness of monetary policies, especially with the involvement of global networks such as Visa and Mastercard. Rhee also discussed South Korea's pilot projects for retail and wholesale CBDCs using DLT and the potential benefits of programmability through smart contracts.

Portfolio Pulse from Murtuza Merchant

December 19, 2023 | 6:39 pm

CGEN

Compugen Ltd. (CGEN) shares soared by over 200% after Gilead Sciences announced an exclusive licensing agreement for Compugen's pre-clinical immunotherapy program. Other stocks also moved significantly in Tuesday's mid-day session, with various companies experiencing gains due to positive developments such as FDA approvals, business accreditations, and favorable analyst upgrades. Conversely, some stocks fell sharply due to negative events like pricing of public offerings, discontinuation of joint development programs, and unfavorable patent litigation outcomes.

Portfolio Pulse from Avi Kapoor

December 19, 2023 | 6:34 pm

SPY

Federal Reserve Bank of Atlanta President Raphael Bostic stated that while the Fed's inflation target is 2%, this is not the only possible target. However, he emphasized that the current target will be maintained until price stability is achieved.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 6:19 pm

SPY

Federal Reserve Bank of Atlanta President Raphael Bostic stated that it is not the appropriate time to consider altering the central bank's inflation goal. He emphasized that while the goal should not be set in stone, the current focus should be on addressing the high inflation rates.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 6:17 pm

SPY

Federal Reserve Bank of Atlanta President Raphael Bostic finds the market's response to the Fed's actions 'interesting' and notes the importance of observing how the situation unfolds.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 6:13 pm

EIS

SPY

USO

The U.S. State Department has expressed that it would welcome China's constructive involvement in efforts to prevent Houthi attacks on international shipping routes. This statement suggests a potential collaboration or diplomatic engagement between the U.S. and China to ensure the safety of maritime trade lanes that are critical for global commerce and energy supplies.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 6:09 pm

ETHUSD

On Monday, 12,559.96 Ether (ETH) valued at $26.9 million was burned, permanently removing it from circulation. This is a result of the EIP-1159 upgrade implemented on August 5, 2021, which introduced a variable base fee for transactions that is burned. The Ethereum network currently has a 4% annual issuance rate of new Ether, expected to drop to 0.5-1% with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -16.66% yesterday.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 6:00 pm

MDT

The FDA has announced a Class I recall of Medtronic's StealthStation S8 Application Versions 2.0 and 2.0.1 due to a software glitch that could cause surgical plan data to shift locations, potentially leading to serious injuries or death. No injuries or deaths have been reported. Medtronic has initiated corrective actions by sending an Urgent Medical Device Correction Letter to customers and will provide a software update.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 5:49 pm

AVXL

Anavex Life Sciences' stock is up following the announcement that the company has received approval from the CHMP to submit a Marketing Authorisation application for blarcamesine, an oral treatment for Alzheimer's disease.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 5:39 pm

FTTUSD

FTX's debtors have reached a settlement with FTX Digital Markets Ltd., a Bahamian subsidiary, to streamline bankruptcy proceedings in the U.S. and The Bahamas. The agreement aims to coordinate asset pooling and distribution, reconcile customer claims, maintain valuation consistency, and maximize recoveries for customers and creditors. The settlement is pending approval from courts in both jurisdictions. FTT interests will be treated as equity with no recovery, and customers can choose the jurisdiction for claim reconciliation and payment in Q2 2024.

Portfolio Pulse from Murtuza Merchant

December 19, 2023 | 5:28 pm