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ETHUSD

A total of 4,760.98 Ether (ETH) worth $8,767,440 was burned from Ethereum transactions on Thursday. This follows the Ethereum blockchain's upgrade known as EIP-1159, which changed the fee model and includes a variable base fee that is burned, permanently removing it from circulation. 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 -4.80% yesterday.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 6:00 pm

CRLBF

GTBIF

VRNOF

Illinois' cannabis retailers sold $140 million in weed products in July 2023, setting a new record. The state collected $36 million in tax revenue from Wisconsin residents alone. Governor Pritzker noted that cannabis legalization has resulted in the creation of more than 30,000 jobs in Illinois over the past two years. Major companies in the state's cannabis industry include Cresco Labs Inc, Verano Holdings Corp., Green Thumb Industries, and PharmaCann. Illinois' weed sales reached $1.5 billion in 2022, and 2023 is on track to meet or exceed that record.

Portfolio Pulse from Maureen Meehan

August 04, 2023 | 5:54 pm

DCTH

Delcath Systems' website shows that the FDA has approved its HEPZATO Kit, causing a spike in the company's shares.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 5:18 pm

SPY

The July jobs report showed a gain of 187,000 jobs, falling short of the expected 200,000, and a drop in unemployment rate to 3.5%. Wages also saw solid growth, increasing by 0.4% month-on-month and 4.4% year-over-year. The SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.7% on Friday. Five economists provided their insights on the report, with some expressing optimism and others pointing out areas of concern. The report's implications for the Federal Reserve's future actions were also discussed.

Portfolio Pulse from Piero Cingari

August 04, 2023 | 5:02 pm

COUR

ENVA

HCA

The article discusses key economic indicators and earnings reports of three companies. The Federal Reserve has raised interest rates to a 22-year high, but this is in line with long-term trends. The 2Q GDP was up 2.4%, beating the 1.5% estimate. PMI data indicates potential stagflation. Enova International ($ENVA) reported a 22% revenue growth, beating estimates, and loan originations above $1B. HCA Healthcare ($HCA) reported a 7% revenue increase, beating estimates, and raised guidance for revenue, EBITDA, and EPS. Coursera ($COUR) reported a 23% revenue increase, beating guidance and estimates, and raised 2023 revenue guidance.

Portfolio Pulse from Gary Brode

August 04, 2023 | 4:38 pm

BTCUSD

GBTC

Deep Knowledge Investing's July 2023 report discusses key issues affecting the investment landscape. Major institutional firms including BlackRock, Bitwise, Invesco, Deutsche Bank, WisdomTree, and Fidelity have filed for Bitcoin ETFs, which could impact the Grayscale Bitcoin Trust (GBTC). The report also discusses mixed economic data, potential issues with the VIX, the possibility of a BRICS currency, and Japan's financial problems. The report concludes with a positive outlook on the younger generation in finance.

Portfolio Pulse from Gary Brode

August 04, 2023 | 4:26 pm

FXI

SPY

President Biden is expected to issue an executive order to screen outbound investment to China next week, according to Reuters. This could potentially impact the flow of US investments into China.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 4:13 pm

COIN

Coinbase CEO Brian Armstrong has expressed his commitment to continue operations in the U.S., even if it loses its ongoing lawsuit against the Securities and Exchanges Commission. Armstrong also expressed his firm's determination to challenge the cease and desist orders issued by ten state regulators against the company's staking service and to extend staking services across all 50 states in the United States. In the worst-case scenario, Armstrong suggested that Coinbase might have to delist the 13 crypto tokens listed as securities in the regulator’s lawsuit against the exchange.

Portfolio Pulse from Murtuza Merchant

August 04, 2023 | 4:03 pm

BTCUSD

ETHUSD

ProShares and Bitwise have submitted proposals to the U.S. Securities and Exchange Commission (SEC) for the establishment of Bitcoin and Ether focused ETFs. ProShares' ETF is intended to track the performance of maintaining long positions in the soonest maturing monthly Bitcoin and Ether futures contracts. Bitwise has lodged an application for a Bitcoin and Ether Market Weight ETF. This expands ProShares' portfolio of crypto-related funds, which already includes a Bitcoin futures ETF.

Portfolio Pulse from Murtuza Merchant

August 04, 2023 | 4:01 pm

CTSH

GOOG

Alphabet Inc. faces a lawsuit from Agence France-Presse (AFP) over content compensation issues on Elon Musk's X platform, previously known as Twitter. Alphabet has previously been penalized for similar issues but has pledged to resolve the dispute. In other news, Alphabet's Google Cloud is expanding its partnership with Cognizant Inc. to leverage AI technology for healthcare solutions.

Portfolio Pulse from Mohit Manghnani

August 04, 2023 | 3:58 pm