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Changpeng Zhao, founder of Binance, stepped down as CEO following a $4.3 billion settlement with the U.S. government. Despite this, Zhao's net worth is $23 billion, having increased by $10.5 billion in 2023. His wealth is tied to his stakes in Binance and Binance.US, as well as investments in Bitcoin and Binance Coin. The settlement and resignation could impact Binance's future and Zhao's wealth, which peaked at $96.9 billion in January 2022 but fell significantly during the year.

Portfolio Pulse from Chris Katje

November 22, 2023 | 4:07 pm

SHOT

Safety Shot, Inc. (NASDAQ:SHOT) stock plummeted after Capybara Research released a short report accusing the company of fraud and predicting FDA intervention. The report follows Safety Shot's stock surge due to a west coast product launch. The stock fell nearly 16% to $4.06, with trading volume significantly exceeding the average.

Portfolio Pulse from Erica Kollmann

November 22, 2023 | 4:07 pm

GXO

GXO Logistics Inc (NYSE:GXO) has announced the extension of its partnership with Avon, a health and beauty company. The partnership, which has been in place for approximately 15 years, involves GXO managing a site in Garwolin that supports Avon's largest factory in Europe. This site facilitates the distribution of Avon's products to over 50 countries across Europe, Africa, and Asia. GXO provides warehousing, co-packing, value-added services, and manufacturing support, helping Avon adapt to new regulations and market changes. Financial terms of the agreement were not disclosed. GXO's stock saw a slight increase of 0.40% to $56.91.

Portfolio Pulse from Shivani Kumaresan

November 22, 2023 | 4:01 pm

COIN

Pantera Capital CEO Dan Moorehead suggests that a spot Bitcoin ETF could fundamentally change access to Bitcoin and positively impact its adoption, unlike previous events such as the launch of CME Futures and Coinbase Inc.'s public listing, which did not significantly expand access. Moorehead likens Bitcoin to gold, indicating that a Bitcoin ETF could have a similar impact on the cryptocurrency market as gold ETFs had on the gold market.

Portfolio Pulse from Murtuza Merchant

November 22, 2023 | 3:47 pm

NVDA

NVIDIA reported better-than-expected Q3 earnings and provided strong guidance, but shares are trading lower due to anticipated sales decline in China caused by export restrictions.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 3:37 pm

OPTX

Syntec Optics has announced the launch of a new 3x magnifier for defense weapon sights, aligning with the Made in America reshoring initiatives and FAR Buy American Act requirements. The company aims to provide lightweight, high-performance optics that reduce weight for soldiers. The use of polymer technology and integrated manufacturing positions Syntec as a domestic alternative to foreign-made magnifiers.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 3:23 pm

ACB

CURLF

IMCC

SPRC

TKUNF

Israel's cannabis industry is growing, with increased medical cannabis prescriptions post-Gaza war. ICD Pharma, Tikun Olam Cannbit (TKUNF), and Syqe Medical are key players, with Syqe set for a $650 million acquisition by Philip Morris. IM Cannabis Corp. (IMCC) was the first Israeli cannabis company on NASDAQ. Curaleaf Holdings (CURLF) and Aurora Cannabis (ACB) are North American companies involved in Israel's market. SciSparc Ltd. (SPRC) plans to merge with an unnamed vehicle importer, expecting the importer to hold 80% of the combined entity post-merger and financing round.

Portfolio Pulse from Jelena Martinovic

November 22, 2023 | 3:18 pm

USO

Venezuela's Deputy Oil Minister Erick Perez announced that the country is currently producing 850,000 barrels of oil per day, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 3:17 pm

MDGS

Medigus Ltd. (NASDAQ:MDGS), a technology company, announced that its subsidiary, Charging Robotics Ltd., received approval for funding from the Israeli Innovation Authority for a pilot project on wireless EV charging in automated parking systems. The project, in cooperation with Parkomot Ltd., aligns with the Israeli Ministry of Energy's goals for EV market adoption. The total budget is approximately $445,000, with 50% financed by the Israel Innovation Authority.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 3:14 pm

EIS

Israel and Hamas have reached an agreement to release around 50 hostages in exchange for 150 Palestinian prisoners, with a four-day ceasefire and potential for further releases. The deal includes pauses in fighting and drone flights. U.S. President Biden and Secretary of State Blinken welcomed the deal, emphasizing continued efforts for the release of all hostages. The UN also supports the agreement. Israeli stocks rallied, with the Tel Aviv 125 index up 1.8% and the iShares MSCI Israel ETF (EIS) closing 0.3% higher.

Portfolio Pulse from Piero Cingari

November 22, 2023 | 3:06 pm