Streetbeat News

Regulatory

BTM

The number of Bitcoin ATMs installed worldwide dropped to a two-year low in October 2023, marking the biggest drop in crypto history. Despite Bitcoin levels breaching the $35,000 mark and optimism surrounding the spot Bitcoin ETF approval, uncertainties around regulations and crypto scams brought the number of ATMs installed down to its 2021 level. Bitcoin Depot (NASDAQ:BTM) CEO Brandon Mintz attributes this declining trend to operators turning off unprofitable ATMs or going out of business. However, he sees this as an opportunity for Bitcoin Depot to increase market share through acquisitions and organic kiosk growth.

Portfolio Pulse from Khyathi Dalal

November 05, 2023 | 5:57 pm

TSLA

Elon Musk, CEO of Tesla Inc., has been in the spotlight this week for his comments on President Biden's AI regulations and his new AI venture, xAI. Musk expressed concern over the executive order mandating AI companies to address algorithmic discrimination. He also announced that xAI will release its first AI model on November 4. In other news, Vice President Kamala Harris announced the creation of the US AI Safety Institute in response to Biden's AI executive order. Musk also supported UK Prime Minister Rishi Sunak's decision to invite China to the AI Safety Summit.

Portfolio Pulse from Benzinga Neuro

November 05, 2023 | 12:30 pm

JPM

TSLA

Prominent figures in the financial world, including Elon Musk, Chamath Palihapitiya, Jamie Dimon, and Steve Eisman, have expressed their views on the current financial situation. Palihapitiya criticized the U.S. Treasury's borrowing plans, a sentiment echoed by Musk. Dimon commented on the Federal Reserve's rate decisions, while Eisman decided not to buy bonds due to the uncertain economic stance of Federal Reserve Chairman Jerome Powell. Peter Schiff disputed Powell's view on inflation, and Stanley Druckenmiller criticized Treasury Secretary Janet Yellen's decisions.

Portfolio Pulse from Benzinga Neuro

November 05, 2023 | 12:22 pm

BTCUSD

DOGEUSD

This week in crypto saw ex-FTX CEO Sam Bankman-Fried convicted of fraud, Elon Musk expressing skepticism towards NFTs, bullish predictions for Dogecoin, and criticism of Bitcoin ATMs by Dogecoin's co-creator. Investor Peter Schiff also called for accountability following Bankman-Fried's conviction.

Portfolio Pulse from Benzinga Neuro

November 05, 2023 | 8:27 am

GM

General Motors' robo-taxi unit Cruise has enlisted an independent law firm and tech consultants to review its operations following a collision that led to a temporary halt of its self-driving car operations. The company's permit for operating driverless cars was revoked by California authorities due to safety concerns. Despite recent setbacks, GM CEO Mary Barra projects that Cruise could bring in revenues of $50 billion by 2030.

Portfolio Pulse from Nabaparna Bhattacharya

November 04, 2023 | 7:34 pm

AMZN

META

The UK's Competition and Markets Authority (CMA) has accepted commitments from Amazon and Meta Platforms to protect fair competition on their respective marketplaces. Meta will prevent the exploitation of its advertising customers' data and grant advertisers more control over their data. Amazon will ensure third-party sellers can compete fairly and customers can access the best deals. An independent trustee will oversee Amazon's adherence to these commitments.

Portfolio Pulse from Nabaparna Bhattacharya

November 04, 2023 | 7:31 pm

TIP

Economist Peter Schiff warns of a potential rebound in inflation towards 9% due to a weakening US dollar. He suggests that the Federal Reserve's potential reversal of monetary policy tightening could negatively impact the dollar. Schiff also notes that higher interest rates would increase costs for businesses, which would be passed on to consumers. The iShares TIPS Bond ETF (NYSE:TIP), which tracks inflation-protected US Treasury bonds, ended Wednesday's session up 0.51% at $104.24.

Portfolio Pulse from Shanthi Rexaline

November 04, 2023 | 5:39 pm

AMZN

WMT

The Federal Trade Commission (FTC) has accused Amazon.com Inc. (NASDAQ:AMZN) of engaging in deceptive practices that increased consumer prices by over a billion dollars. The FTC alleges that Amazon used a covert algorithm, known as 'Project Nessie,' to artificially raise prices on certain items. The FTC also criticized Amazon for mandating that Prime sellers use its delivery services, contributing to a steep rise in seller fees. The FTC highlighted Amazon's exclusion of other large online retailers, such as Walmart Inc. (NYSE:WMT), from its marketplace.

Portfolio Pulse from Bibhu Pattnaik

November 04, 2023 | 4:38 pm

BTCUSD

DOGEUSD

TSLA

Tesla CEO Elon Musk has stated that none of his companies, including xAI, will ever create cryptocurrency tokens. This announcement came after the XAI Corp token experienced a 175% surge in value due to a misunderstanding that Musk's AI venture was creating a cryptocurrency token. Musk's previous interactions with cryptocurrencies, such as Tesla's acceptance and later rejection of Bitcoin as payment, have significantly impacted crypto markets.

Portfolio Pulse from Ananya Gairola

November 04, 2023 | 8:36 am

EZFL

EzFill Holdings Inc and AJB have executed an additional amendment to their amended purchase agreement, retroactively effective as of October 25, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 8:40 pm