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Regulatory

MA

V

Aylo Holdings, the parent company of Pornhub.com, has been arraigned on charges of profiting from sex trafficking proceeds and agreed to pay a $1.84 million fine. The charges stem from Aylo's hosting of videos from GirlsDoPorn, which were allegedly created through sex trafficking. Despite receiving complaints and content removal requests, Aylo continued to profit from the partnership until 2019. The FBI conducted the investigation. In 2020, Visa (V) and Mastercard (MA) severed ties with Pornhub over related accusations.

Portfolio Pulse from Nabaparna Bhattacharya

December 23, 2023 | 8:40 pm

BTCUSD

ETHUSD

The anticipated launch of the spot Bitcoin ETF is expected to occur between January 5-10, 2024. The SEC's 'cash only' requirement has been met by ETF providers, clearing the way for the launch. QCP Capital warns of potential short-term volatility, suggesting a 'sell the news' scenario with Bitcoin possibly retracing to $36,000 before resuming its uptrend. Long-term, QCP remains bullish on Bitcoin. They advise experienced investors to consider strategic plays like selling covered calls and buying puts. Ethereum may temporarily lag behind Bitcoin but could benefit from future spot ETF developments.

Portfolio Pulse from Murtuza Merchant

December 23, 2023 | 3:02 pm

AAPL

ROKU

TSLA

USO

Stock indices marked their eighth consecutive week of gains, with the S&P 500, Dow, and Nasdaq all rising. Inflation measured by the PCE index fell to 2.5% in November, the lowest since March 2021, prompting economists to reconsider the Fed's rate plans for 2024. Bullish views included predictions for Apple and Tesla, a potential Bitcoin ETF approval, and a Dogecoin rally. Bearish perspectives involved a drop in oil prices following Angola's OPEC exit, a predicted 75% fall in Ethereum, and a downgrade of Roku by Seaport Research Partners.

Portfolio Pulse from Michael Cohen

December 23, 2023 | 2:50 pm

DOGEUSD

Billy Markus, co-founder of Dogecoin, criticized SEC Chair Gary Gensler for not providing clear rules for the crypto industry, reacting to Gensler's comments on widespread non-compliance and fraud in the sector. Gensler described the crypto market as the 'Wild West' and emphasized the harm to US investors due to non-compliance with securities laws.

Portfolio Pulse from Rounak Jain

December 23, 2023 | 10:00 am

AAPL

Apple Inc. (AAPL) is in talks with news and publishing firms for licensing deals worth $50 million to train its generative AI systems. The deals with firms like Condé Nast, NBC News, and IAC are part of Apple's efforts to compete in the generative AI space, where tech giants like Microsoft, OpenAI, Google, and Meta Platforms are active. Publishers' responses are mixed, with some concerned about licensing terms and legal liabilities, while others see potential for collaboration. The deals could provide a legal framework for using news content in AI training, amid industry concerns about copyright use by AI systems.

Portfolio Pulse from Ananya Gairola

December 23, 2023 | 8:10 am

BRK

MS

Morgan Stanley CEO James Gorman agrees with Warren Buffett's view that poor management decisions led to recent bank failures. In an interview, Gorman criticized the mismanagement and recklessness of banks, specifically citing the collapses of Silicon Valley Bank and others as 'entirely their own doing.' Despite this, he remains optimistic about the future of investment banks, predicting a surge in activity once interest rates stabilize.

Portfolio Pulse from Ananya Gairola

December 23, 2023 | 6:28 am

GOOG

GOOGL

Alphabet Inc's Waymo has achieved significant milestones this year, including providing over 700,000 autonomous rides and expanding its operation areas. The co-CEOs highlighted the safety of Waymo Driver, which was involved in fewer crashes compared to human drivers. Despite industry challenges, including calls for federal regulation and a recent accident involving a Cruise AV, Waymo's performance in terms of miles traveled before a crash surpasses that of Cruise and the average human driver.

Portfolio Pulse from Anan Ashraf

December 23, 2023 | 5:51 am

COIN

MSTR

Bitcoin's market cap has increased by 160% in 2023, adding $530 billion, fueled by investor optimism over potential U.S. approval of a Bitcoin ETF. Michael Saylor of MicroStrategy predicts a 'demand shock' if the ETF is approved. Despite challenges in the crypto space, Bitcoin's performance has surpassed global stocks and gold, and companies like Coinbase have seen significant gains. Bitcoin derivatives activity has increased, but the daily value of Bitcoin trades has fallen since last April.

Portfolio Pulse from Ananya Gairola

December 23, 2023 | 5:14 am

BLK

Bitwise and Hashdex have launched advertisements for their Spot Bitcoin ETFs, signaling confidence in potential SEC approval. Bitwise's ad features actor Jonathan Goldsmith, while Hashdex's ad uses a dump truck to differentiate crypto from other assets. The SEC's decision window is from Jan. 5 to Jan. 10, 2024. Samson Mow of JAN3 emphasized the importance of marketing for ETF issuers to grow assets and customer base. Speculation about future ads from BlackRock with Novak Djokovic and a Fidelity Super Bowl ad with Michael Saylor was also mentioned. Crypto analyst Kashif Raza noted the intense competition among Bitcoin Spot ETFs.

Portfolio Pulse from Khyathi Dalal

December 22, 2023 | 10:00 pm

SONN

Sonnet Biotherapeutics Holdings Inc has filed with the SEC to offer a mixed shelf of up to $100 million. This filing allows the company to issue various types of securities in one or more separate offerings over time.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 9:38 pm