Streetbeat News

Regulatory

BTCUSD

DOGEUSD

ETHUSD

Major cryptocurrencies including Bitcoin, Ethereum, and Dogecoin experienced mixed trading due to macroeconomic and regulatory uncertainties. Binance's Global Product Lead, Mayur Kamat, is set to leave the company. The SEC may be forced to approve spot bitcoin ETF applications following a federal court ruling. Crypto analyst Michael Van De Poppe noted a promising trend in Altcoins, suggesting a potential market shift.

Portfolio Pulse from Mehab Qureshi

September 05, 2023 | 2:33 am

AAPL

MSFT

VGK

Apple and Microsoft have argued that some of their flagship services are not popular enough to be designated as gatekeepers under new EU legislation, according to a Financial Times report.

Portfolio Pulse from Charles Gross

September 04, 2023 | 8:17 pm

ITA

PPA

XAR

North Korea's leader, Kim Jong-un, is set to meet Russian President Vladimir Putin, with discussions potentially including arms agreements. This has led to increased attention on ETFs investing in US-based defense companies, including Invesco Aerospace & Defense ETF (NYSE:PPA), SPDR S&P Aerospace & Defense ETF (NYSE:XAR), and iShares U.S. Aerospace & Defense ETF (NYSE:ITA).

Portfolio Pulse from Piero Cingari

September 04, 2023 | 8:11 pm

GMAB

SGEN

Genmab A/S (GMAB) and Seagen Inc. (SGEN) announced that the Phase 3 innovaTV 301 global trial of TIVDAK in recurrent or metastatic cervical cancer patients met its primary endpoint of overall survival. The trial also demonstrated statistical significance in key secondary endpoints. The safety profile of TIVDAK was consistent with known information and no new safety signals were observed.

Portfolio Pulse from Charles Gross

September 04, 2023 | 7:57 pm

ETHUSD

A total of 2,575.57 Ether (ETH) worth $4.2M was burned from Ethereum transactions on Sunday. This follows the Ethereum blockchain's upgrade known as EIP-1159, which changed the fee model and burns a 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 -0.56% yesterday.

Portfolio Pulse from Benzinga Insights

September 04, 2023 | 6:00 pm

VLKAF

VWAGY

Volkswagen AG is reportedly prepared for Europe's 2035 ban on new sales of fossil-fuel cars, as it ramps up its electric vehicle lineup. The company plans to reduce its battery expenses through a 50% drop in cost at the cell level via its partnerships in China. In the first half of the year, Volkswagen led the European market in the BEV segment, with deliveries increasing by 68% to 217,100 vehicles. However, in China, first-half deliveries were around 2% below the previous year's level.

Portfolio Pulse from Nabaparna Bhattacharya

September 04, 2023 | 4:48 pm

ALL

BRK-A

VRSK

Major insurers including Allstate Corp, American Family Insurance, Berkshire Hathaway Inc., Nationwide, and Erie Insurance Group are reportedly reducing or eliminating coverage for extreme weather events due to climate change. This follows Hurricane Idalia, which caused industry-insured losses to onshore property estimated between $2.5 billion to $4 billion, according to Verisk Analytics, Inc. Insurers are excluding protection from weather events such as hurricanes, wind, hail, and wildfires in disaster-prone areas, raising premiums and deductibles.

Portfolio Pulse from Nabaparna Bhattacharya

September 04, 2023 | 4:37 pm

ACRHF

CURLF

GTBIF

Four major medical marijuana retailers in New York, including Curaleaf Holdings, Inc. (CURLF), Green Thumb Industries (GTBIF), and Acreage Holdings (ACRHF), have written to Gov. Kathy Hochul, urging her to issue them licenses to sell adult-use cannabis. The companies argue that the state's current licensing process is endangering New Yorkers and hurting taxpayers, while illicit weed sales continue to thrive. They suggest that issuing them licenses would more than double the number of adult-use marijuana dispensaries and help other cannabis sellers.

Portfolio Pulse from Maureen Meehan

September 04, 2023 | 3:45 pm

BTC-USD

DOGE-USD

TSLA

DogeDesigner, a graphic designer at Dogecoin, has denied speculation that Elon Musk, CEO of Tesla and SpaceX, is the creator of Bitcoin. The designer argues that the absence of memes in the original Bitcoin white paper serves as evidence against Musk being Satoshi Nakamoto. Musk's involvement with Dogecoin has been intermittent but notable, with his tweets occasionally fueling its popularity. Recently, Musk's social media platform, X (formerly known as Twitter), has been granted a license to provide cryptocurrency wallet services in Rhode Island, leading to speculation that Musk could integrate Dogecoin into the platform.

Portfolio Pulse from Mehab Qureshi

September 04, 2023 | 12:00 pm

BTCUSD

ETHUSD

Global Google search traffic for the term “cryptocurrency” has reached its lowest point in five years, according to Google Trends. YouTuber Coffeezilla attributes this to the average person now understanding what crypto is. However, searches for Bitcoin have maintained levels above those observed in 2019 and 2020, while searches for Ethereum have dipped. The SEC's intensified efforts to regulate crypto entities like Binance and Coinbase could also be influencing the decline in search traffic.

Portfolio Pulse from Mehab Qureshi

September 04, 2023 | 11:45 am