Streetbeat News

Regulatory

COIN

MARA

RIOT

Crypto-related stocks Coinbase Global Inc (COIN), Marathon Digital Holdings Inc (MARA), and Riot Platforms Inc (RIOT) are trading lower amid broader weakness in cryptocurrencies, following the SEC's lawsuit against Binance for alleged U.S. securities violations.

Portfolio Pulse from Henry Khederian

June 05, 2023 | 4:21 pm

DOGEUSD

Dogecoin is trading lower by 10.64% amid broader weakness across cryptocurrencies after the SEC sued Binance over U.S. securities violations. Binance is the largest cryptocurrency exchange in the world by trading volume.

Portfolio Pulse from Henry Khederian

June 05, 2023 | 4:21 pm

BNBUSD

BTCUSD

ETHUSD

LTCUSD

USDTUSD

Binance Holdings Ltd. and its CEO Changpeng Zhao are being sued by the SEC for alleged violations of U.S. regulations. The lawsuit claims Binance facilitated transactions in various cryptocurrencies and that Zhao directed employees to use VPNs to obscure their locations. Binance's Australian division has also suspended AUD bank transfers.

Portfolio Pulse from Murtuza Merchant

June 05, 2023 | 4:05 pm

BTCUSD

ETHUSD

The SEC has filed a complaint against Binance, stating that billions of dollars in customer funds were commingled in an account held by an entity controlled by CEO Zhao. The entity allegedly transferred customer funds to buy stablecoin BUSD.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2023 | 3:47 pm

BITF

CIFR

CLSK

HIVE

MARA

MSTR

RIOT

Crypto-related stocks are trading lower following the SEC's lawsuit against Binance for US securities violations.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2023 | 3:44 pm

JPM

JPMorgan's research paper predicts continued enthusiasm for Bitcoin from individual investors leading up to the 2024 halving event, which will push production costs to around $40,000, instilling investor confidence. However, institutional interest in Bitcoin seems to be declining due to factors such as fraud allegations, increased volatility, and regulatory scrutiny.

Portfolio Pulse from Murtuza Merchant

June 05, 2023 | 3:42 pm

COIN

Coinbase shares are trading lower following the SEC's lawsuit against Binance for US securities violations.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2023 | 3:42 pm

BKTI

BK Technologies Corp (NYSE:BKTI) has received FCC approval for its BKR 9000 multiband radio, which is expected to expand its addressable market and attract new customers. The company aims to achieve a revenue goal of $100 million by 2025.

Portfolio Pulse from Akanksha Bakshi

June 05, 2023 | 3:40 pm

AMZN

DISH

TMUS

VZ

Amazon is reportedly in talks with telecom operators like DISH Network, Verizon, and T-Mobile US to offer Prime subscribers a $10/month or free service. Wall Street firms remain skeptical due to the high costs and potential FCC regulation. HSBC analyst Adam Fox-Rumley has adjusted price targets for T-Mobile US, Verizon, and AT&T.

Portfolio Pulse from Anusuya Lahiri

June 05, 2023 | 3:40 pm

BTCUSD

ETHUSD

Binance CEO announced that the company will issue a response to the SEC once they see the complaint. The team is currently ensuring that systems, including withdrawals and deposits, are stable.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2023 | 3:24 pm