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Dogecoin co-creator Billy Markus proposed the idea of building a Bitcoin temple if the price of Bitcoin reaches one million dollars per coin. The idea was expressed during a discussion with Michael Saylor, CEO of MicroStrategy, who had shared a video about the potential approval of a Bitcoin spot exchange-traded fund (ETF). The prospect of a Bitcoin spot ETF in the United States is becoming increasingly likely, according to analysts. A federal court order has directed the SEC to reconsider its rejection of Grayscale Investments’ application for a Bitcoin spot ETF.

Portfolio Pulse from Mehab Qureshi

August 31, 2023 | 5:40 am

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Republican Presidential candidate Vivek Ramaswamy has expressed his support for Bitcoin following Grayscale's court victory over the SEC. The court ruled the SEC's denial of Grayscale's ETF as 'arbitrary and capricious'. Ramaswamy has been actively praising Bitcoin during his campaign and accepts donations in Bitcoin, Dogecoin, Shiba Inu and other altcoins.

Portfolio Pulse from Mehab Qureshi

August 31, 2023 | 3:48 am

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Major cryptocurrencies Bitcoin, Ethereum, and Dogecoin experienced a decline as the rally sparked by Grayscale's court victory against the SEC faded. The SEC has been instructed to reconsider its decision to decline Grayscale's proposal to transform its $14 billion Bitcoin Trust into a spot bitcoin ETF. Analysts predict a 16% downside for Bitcoin in September, anticipating $23K levels.

Portfolio Pulse from Mehab Qureshi

August 31, 2023 | 2:23 am

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The US Department of Health and Human Services (HHS) is considering reclassifying cannabis from a Schedule I to a Schedule III drug, acknowledging its medicinal benefits and distinguishing it from other substances. This could significantly impact cannabis brands and the industry, including companies like WM Technology, Inc. (NASDAQ: MAPS) and Leafly Holdings Inc. (NASDAQ: LFLY). The move could also result in lower effective tax rates for businesses across the industry due to the expected non-applicability of IRS Code 280E to marijuana businesses.

Portfolio Pulse from Joana Scopel

August 31, 2023 | 1:48 am

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A top official at the Department of Health and Human Services (HHS) has recommended that marijuana be reclassified as a Schedule III substance under the Controlled Substances Act. This change could ease federal regulations surrounding the drug, potentially unlocking medical research opportunities and paving the way for banking access for cannabis businesses. The CEOs of Trulieve Cannabis Corp (OTC:TCNNF), Verano Holdings Corp (OTC:VRNOF), Cresco Labs (OTC:CRLBF), and Curaleaf Holdings (OTC:CURLF) have all commented on the potential impact of this change on their businesses.

Portfolio Pulse from Javier Hasse

August 30, 2023 | 11:36 pm

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Grayscale Bitcoin Trust (OTC:GBTC) has won a legal victory against the SEC, with a U.S. federal court directing the SEC to reconsider its decision to reject Grayscale's proposal to transform the Grayscale Bitcoin Trust into an ETF. This has sparked optimism about the future of spot Bitcoin (CRYPTO: BTC) ETFs. However, challenges such as regulatory scrutiny and market dynamics remain. Major institutions such as BlackRock Inc (NYSE:BLK) have shown interest in spot Bitcoin ETFs.

Portfolio Pulse from Murtuza Merchant

August 30, 2023 | 9:58 pm

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GBTC

Bitcoin (BTC) surged by 4.5% between Monday and Wednesday, marking its best performance since June. The Grayscale Bitcoin Trust (GBTC) won its legal battle against the SEC, allowing the conversion of GBTC into an ETF. This could pave the way for other companies like Bitwise, VanEck, Invesco, Fidelity, and Valkyrie to secure approval for their Bitcoin ETF applications. Cathie Wood, overseer of the ARK Innovation ETF (ARKK), predicts Bitcoin surpassing $1 million by 2030. The net-long positions in Bitcoin futures held by large speculators grew to 1,515 contracts during the week ending Aug. 22, the highest since April 2018.

Portfolio Pulse from Piero Cingari

August 30, 2023 | 9:43 pm

TSLA

Tesla Inc (NASDAQ:TSLA) is under investigation by the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) over a secretive initiative known as 'Project 42'. The investigations focus on the potential misuse of company funds for a glass house for CEO Elon Musk in Austin, Texas. The status of the project and whether the specialized glass, costing millions of dollars, was ever delivered is unknown. The DOJ and SEC investigations are in their preliminary stages, and no formal allegations have been sent.

Portfolio Pulse from AJ Fabino

August 30, 2023 | 9:16 pm

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The FDA has issued warning letters to three infant formula manufacturers - ByHeart Inc., Mead Johnson Nutrition (Reckitt), and Perrigo Wisconsin, LLC, following inspections over the last several months. The firms initiated recalls to remove potentially contaminated products from the market. However, the FDA does not advise parents and caregivers to discard or avoid purchasing any particular infant formula at this time.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 8:45 pm

SWSS

Clean Energy Special Situations (SWSS) has received a notice from Nasdaq regarding its late filing of Form 10-Q. The company is expected to address this issue promptly to avoid potential delisting.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 8:26 pm