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Regulatory

ETHUSD

A total of 2,041.98 Ether (ETH) worth $3,287,042 was burned from Ethereum transactions on Thursday. This follows the implementation of the Ethereum improvement proposal EIP-1159 in August 2021, which changed the fee model and burns a variable base fee from each transaction. Ethereum is currently issuing new Ether at a rate of 4% per year, expected to decrease to around 0.5-1% with the Ethereum 2.0 upgrade. The net annualized issuance rate for Ether was 0.59% yesterday.

Portfolio Pulse from Benzinga Insights

October 20, 2023 | 6:00 pm

BTCUSD

DIS

DKNG

PENN

The sports betting market continues to grow with more states legalizing and more platforms launching. PENN Entertainment Inc (NASDAQ:PENN) has landed a licensing deal with Walt Disney Co (NYSE:DIS) for the ESPN Bet platform, set to launch in November. DraftKings Inc (NASDAQ:DKNG) also featured in the news as a bettor turned a $28.60 bet into a win of $486,021.92. The state of North Carolina is closer to legalizing online sports betting, while Florida remains a key market to watch.

Portfolio Pulse from Chris Katje

October 20, 2023 | 5:57 pm

ME

SPY

A Republican U.S. Senator has requested details from the CEO of 23andMe following reports of the company's data being sold online.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 5:48 pm

SPY

Fox News reports that some Republicans have suggested there could be an attendance problem if they force additional votes for Speaker this weekend. Some members have hinted they could leave for the weekend as a protest. There are concerns about accidentally electing House Minority Leader Hakeem Jeffries (D-NY) as Speaker if there are the right number of absences and the GOP fails to provide a certain number of votes to block him.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 5:38 pm

SPY

Federal Reserve's Loretta Mester stated that the impact of climate change on the economy and financial system cannot be ignored. She emphasized that the Fed must consider climate change issues in light of its official mandates.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 5:27 pm

SPY

Federal Reserve's Loretta Mester stated that the balance sheet reduction should continue irrespective of interest rate changes. She also mentioned that the Fed might have a couple more years of balance sheet cuts.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 5:24 pm

EIS

SPY

USO

VGK

The US and European governments are urging Israel to delay its planned ground invasion of Gaza to allow for secret negotiations via Qatar for the release of hostages held by Hamas. The negotiations are delicate and may not succeed, but there are indications that Hamas might agree to release some of the civilians captured in an October 7 raid without demanding a prisoner exchange from Israel.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 5:22 pm

SPY

Federal Reserve's Mester has stated that the Fed looks at a variety of data when considering monetary policy, including money supply. She also mentioned that the Fed has underestimated inflation levels until recently and cannot confirm if monetary policy has reached its peak.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 5:13 pm

SPY

USO

Russian authorities are considering raising the gas-production tax, also known as the MET, to finance a return to full subsidies for oil refiners. The move is aimed at supporting the domestic fuel market without straining the country's budget.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 5:06 pm