Streetbeat News

Regulatory

BNBUSD

COIN

Coinbase (NASDAQ:COIN) has faced a series of regulatory challenges from the SEC, including accusations of operating as an unregistered broker. Despite this, the company has seen victories in the Supreme Court and launched a 4% rewards program for USDC. Rumors of Bank of America accounts linked to Coinbase being shut down have also circulated. The SEC has reportedly demanded Coinbase to delist all but Bitcoin, which would significantly impact operations. Despite a 192% stock rally year to date, analysts warn of lingering regulatory risks.

Portfolio Pulse from Jose Rodrigo Safdiye

July 31, 2023 | 8:55 pm

FANG

VNOM

Viper Energy Partners is planning a conversion that will allow its common stockholders to vote on all matters under the Delaware General Corporation Law. Post-conversion, Viper will be a 'controlled company' under NASDAQ rules as Diamondback Energy will own more than 50% of Viper's voting power. Viper's publicly traded common stock will continue to be traded on NASDAQ under the existing ticker symbol 'VNOM'.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 8:50 pm

FANG

VNOM

Viper Energy Partners LP (VNOM), a subsidiary of Diamondback Energy, Inc. (FANG), plans to convert its legal status from a Delaware limited partnership into a Delaware corporation by December 31, 2023. The conversion is expected to maintain the current ownership structure and tax treatment. Post-conversion, Viper's common stock will be traded on NASDAQ under the existing ticker symbol 'VNOM'. The conversion is aimed at increasing corporate governance rights and positioning Viper for index and benchmark inclusion.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 8:49 pm

DBVT

DBV Technologies has received feedback from the U.S. Food and Drug Administration (FDA) on its two supplemental safety studies for Viaskin Peanut in toddlers and children. The company plans to seek final alignment with the FDA on the COMFORT protocols before starting the studies. DBV closed Q2 2023 with a cash balance of $174 million.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 8:47 pm

SNMP

Evolve Transition Infrastructure LP's (AMEX:SNMP) common units surged after the NYSE American lifted the trading suspension on the stock. The company's delisting determination was withdrawn and trading resumed on July 31. However, delisting proceedings may be enacted again if the company does not comply with the continued listing standards by June 6 next year. The stock recently initiated a 1-for-30 reverse split.

Portfolio Pulse from Ryan Gustafson

July 31, 2023 | 7:48 pm

EVLV

Evolve Transition Infrastructure has resolved its listing deficiency with the NYSE American, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 7:46 pm

BNBUSD

COIN

TRXUSD

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

KBE

KRE

SPY

XLF

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

KBE

KRE

SPY

XLF

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