Streetbeat News

Regulatory

BUSDUSD

Taiwan's Financial Supervisory Commission (FSC) is drafting 10 guiding principles for virtual asset service providers (VASPs), which may include a compliance registration requirement for offshore crypto exchanges. Non-compliant exchanges could be banned. The principles are expected to be released by the end of September. Binance (CRYPTO: BUSD) has reportedly applied for registration in Taiwan for AML compliance.

Portfolio Pulse from Khyathi Dalal

September 07, 2023 | 9:01 pm

GS

The CEO of Goldman Sachs, David Solomon, has expressed concerns that new capital rules have gone too far, potentially impacting the bank's operations.

Portfolio Pulse from Bill Haddad

September 07, 2023 | 8:33 pm

RANI

Rani Therapeutics (NASDAQ:RANI) announced successful preclinical studies of its high-capacity oral biologics device, RaniPill® HC. The device achieved a 90% success rate in delivering teriparatide in two studies. The RaniPill® HC can deliver a 500% higher drug payload than Rani's existing oral biologics capsule, potentially enabling the delivery of 90+ additional drug candidates. Rani plans to continue preclinical testing and initiate a Phase 1 study of adalimumab RT-105.

Portfolio Pulse from Happy Mohamed

September 07, 2023 | 8:24 pm

CRM

IBM

MSFT

PLTR

Palantir Technologies Inc (PLTR), Salesforce Inc (CRM), Microsoft Corp (MSFT), and IBM (IBM) are set to advise the Biden administration on AI regulation. The initiative, to be announced on Sept. 12, aims to establish a regulatory framework for AI systems. The administration hopes to set a global standard for AI use.

Portfolio Pulse from Aaron Bry

September 07, 2023 | 8:21 pm

ETHUSD

MATICUSD

The FBI has identified the North Korea-affiliated Lazarus Group as the perpetrator of a $41-million cryptocurrency theft from Stake.com, an online casino. The group has been linked to thefts totaling over $200 million in 2023. The stolen funds were associated with the Ethereum (ETH), Binance Smart Chain, and Polygon (MATIC) networks. The FBI has urged private entities to be proactive in their cybersecurity efforts.

Portfolio Pulse from Murtuza Merchant

September 07, 2023 | 8:12 pm

SPY

Federal Reserve's Williams stated that the slowing wage growth indicates some success in lowering inflation. He also mentioned that inventories are normalizing and the economy is not seeing a traditional inflation cycle. He expects the unemployment rate to rise to the low 4% range.

Portfolio Pulse from Happy Mohamed

September 07, 2023 | 7:58 pm

SPY

Federal Reserve's John Williams has stated that there are reasons to expect some weakening in consumer spending. He emphasized that the main focus of the Fed is inflation and that price pressure must come down.

Portfolio Pulse from Happy Mohamed

September 07, 2023 | 7:55 pm

SPY

Federal Reserve's Williams expects the unemployment rate to increase over the next year. He also sees a risk of stronger than expected growth.

Portfolio Pulse from Happy Mohamed

September 07, 2023 | 7:51 pm

SPY

Federal Reserve's Williams stated that the Fed has done a lot on monetary policy and it is in a very good place, impacting the economy. The question now is whether the monetary policy needs to become restrictive.

Portfolio Pulse from Happy Mohamed

September 07, 2023 | 7:47 pm

SPY

Federal Reserve's Williams stated that more data is expected before the next FOMC meeting. He noted that inflation is high but decreasing, labor market imbalances are stabilizing, and the economy is moving in the right direction.

Portfolio Pulse from Happy Mohamed

September 07, 2023 | 7:47 pm