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Regulatory

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The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Richard Heart and his cryptocurrency projects, including Hex, PulseChain and PulseX, for allegedly defrauding investors. Heart is accused of raising over $1 billion through the sale of unregistered securities and using at least $12 million of the funds for personal luxury purchases. This lawsuit is the latest in a series of SEC legal actions against major firms and figures in the crypto industry.

Portfolio Pulse from Murtuza Merchant

July 31, 2023 | 6:57 pm

COIN

Coinbase Global (NASDAQ:COIN) is facing technical issues, with users experiencing intermittent failures when logging in, initiating trades, and accessing the Earn page. The cause of these issues is unclear. This comes amid regulatory challenges from the U.S. Securities and Exchange Commission (SEC), which wants Coinbase to delist all cryptocurrencies except Bitcoin.

Portfolio Pulse from Jose Rodrigo Safdiye

July 31, 2023 | 6:37 pm

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The Federal Reserve's Senior Loan Officer Opinion Survey reports that U.S. banks have tightened standards for all consumer loans in Q2. Demand for auto loans has weakened, while demand for credit card loans remains unchanged.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 6:08 pm

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The Federal Reserve's Senior Loan Officer Opinion Survey reports that U.S. banks saw tighter standards and weaker demand for commercial and industrial loans, as well as commercial real estate loans, during Q2. The banks also reported tighter standards and weaker demand for residential real estate loans compared to the previous quarter.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 6:06 pm

BTCUSD

COIN

The U.S. Securities and Exchange Commission (SEC) has directed Coinbase (NASDAQ:COIN) to halt trading on all cryptocurrencies except Bitcoin (CRYPTO: BTC). The SEC recommended the delisting of over 200 tokens offered by the exchange, identifying 13 of them as securities. Experts argue that these actions could violate the SEC's mission of protecting investors and potentially trigger a market crash. However, some see a potential upside for Bitcoin.

Portfolio Pulse from Murtuza Merchant

July 31, 2023 | 6:04 pm

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The U.S. Senate has approved a defense bill that includes provisions to prevent intelligence agencies from denying security clearances to applicants due to their past marijuana use. The provision was part of the National Defense Authorization Act (NDAA) and the Intelligence Authorization Act. The move is seen as a way to modernize workforce recruitment and attract qualified personnel. The White House has not commented on the cannabis language in the NDAA legislation.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 6:02 pm

ETHUSD

On Sunday, 4,186.37 Ether (ETH) worth $7,792,095 was burned from Ethereum transactions. This follows the Ethereum blockchain's upgrade known as EIP-1159, which changed the fee model and burns a base fee from each transaction, 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 yesterday was -3.78%.

Portfolio Pulse from Benzinga Insights

July 31, 2023 | 6:00 pm

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GSK

AnaptysBio, Inc. (NASDAQ:ANAB) and GSK have received FDA approval for their immuno-oncology treatment, JEMPERLI, in combination with chemotherapy for the treatment of dMMR/MSI-H primary advanced or recurrent endometrial cancer. This is the first such treatment approved in the frontline setting for this patient population. The approval could significantly drive JEMPERLI royalties. AnaptysBio is entitled to receive milestones and tiered royalties of 8% for net sales of JEMPERLI below $1 billion and 12% up to 25% of net sales above $1 billion.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 5:37 pm

COIN

Coinbase, a major cryptocurrency exchange, is currently experiencing system issues, according to a Reuters report. The issues could potentially affect trading and other operations.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 5:29 pm

SPRO

Spero Therapeutics has announced a Special Protocol Assessment with the FDA for the Phase 3 PIVOT-PO trial of tebipenem Hbr, causing its shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 4:51 pm