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The Federal Trade Commission (FTC) has reached a settlement with cryptocurrency platform Celsius Network over allegations of duping consumers into transferring their cryptocurrency into the platform. Former executives of Celsius are also charged with squandering billions in user deposits.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 1:55 pm

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Alex Mashinsky, the former CEO and co-founder of the now-defunct cryptocurrency lender Celsius (CRYPTO: CEL), was arrested following a Department of Justice inquiry into the company's downfall. The Securities and Exchange Commission (SEC) has filed a lawsuit against Mashinsky and Celsius for securities fraud. The Commodity Futures Trading Commission and Federal Trade Commission have also taken legal actions. The collapse of the TerraUSD (CRYPTO: LUNA) stablecoin and a downturn in the digital-asset markets left Celsius with a significant deficit, leading to its inability to handle customer withdrawal requests.

Portfolio Pulse from Murtuza Merchant

July 13, 2023 | 1:51 pm

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The U.S. Federal Trade Commission (FTC) has filed a lawsuit against Celsius Network and its founder, Alex Mashinsky. The details of the lawsuit are not yet disclosed.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 1:45 pm

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Nearly 100 U.S. lawmakers have urged the Environmental Protection Agency (EPA) to finalize tougher vehicle emissions rules that would boost electric vehicle sales through 2032. This could potentially benefit electric vehicle manufacturers.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 1:43 pm

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The Federal Trade Commission (FTC) is investigating OpenAI's ChatGPT artificial-intelligence system for potentially publishing false information about individuals. The investigation was revealed in a letter sent by the FTC to OpenAI.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 1:37 pm

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First Wave BioPharma Inc's shares are trading lower after the company received topline results from its Phase 2 SPAN trial for the treatment of exocrine pancreatic insufficiency in cystic fibrosis patients. The preliminary data indicates that the primary efficacy endpoint was likely not achieved. The company plans to pursue an End-of-Phase 2 meeting with the FDA in the fourth quarter of 2023.

Portfolio Pulse from Vandana Singh

July 13, 2023 | 1:36 pm

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The U.S. State Department has announced that two undisclosed parties have agreed to maintain open channels of communication. The specific parties involved and the context of the agreement were not disclosed.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 1:35 pm

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US Secretary of State Antony Blinken emphasized the importance of maintaining stability and peace across the Taiwan Strait, according to Reuters.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 1:35 pm

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US Secretary of State Antony Blinken and China's State Councilor Wang Yi had a candid discussion on Thursday, according to Reuters citing the State Department. No specific details about the discussion were provided.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 1:34 pm

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The UK's Competition and Markets Authority (CMA) has launched a detailed investigation into Adobe Inc's $20 billion acquisition of Figma, a cloud-based design platform. The CMA had previously expressed concerns that the merger could reduce choices for digital apps, websites, and product designers. Adobe declined to propose any solutions to these concerns. The company continues to face global antitrust resistance to its proposed acquisition of Figma.

Portfolio Pulse from Vandana Singh

July 13, 2023 | 1:33 pm