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ELONUSD

FTTUSD

Cryptocurrency exchange Hotbit has reportedly executed a significant rug pull, causing severe damage to the Defi project RichQuack, along with Baby Doge Coin and Dogelon Mars tokens. Hotbit sold around 256 trillion QUACK tokens that belonged to QUACK holders on PancakeSwap and did not respond to withdrawal requests. The incident also affected other projects, including BabyDogeCoin and DogelonMars. Hotbit recently announced a halt to its operations due to worsening operating conditions.

Portfolio Pulse from Murtuza Merchant

July 05, 2023 | 6:04 pm

SPY

The Federal Reserve staff predicts a 'mild recession' to start later this year, as per the Fed minutes. This prediction remains unchanged from the May minutes.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 6:03 pm

SPY

The Federal Reserve minutes reveal that some members favor an interest rate increase due to a very tight labor market and stronger-than-anticipated economic momentum. However, there is little evidence of inflation returning to the 2% target over time.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 6:02 pm

SPY

The Federal Reserve's minutes reveal that some participants were in favor of or could have supported a 25 basis points increase in the target rate. However, almost all participants deemed it appropriate or acceptable to leave the target rate unchanged.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 6:02 pm

ETHUSD

On Tuesday, 6,164.24 Ether (ETH) worth $11,793,184 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. 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 -7.89%.

Portfolio Pulse from Benzinga Insights

July 05, 2023 | 6:00 pm

USO

OPEC is reportedly in discussions with Azerbaijan, Malaysia, Brunei, and Mexico about potential membership. The news was announced by the OPEC Secretary General and reported by the UAE State News Agency.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 5:47 pm

GOOG

GOOGL

META

A federal judge has ruled that the White House administration may have violated the First Amendment by censoring views on social media platforms such as Twitter, Facebook, and YouTube. The judge has barred federal officials and agencies from contacting these social media firms. The ruling is expected to take effect immediately but could be appealed by the Biden administration. The ruling applies to Twitter, Meta Platforms Inc-owned Facebook, and Alphabet Inc-owned YouTube.

Portfolio Pulse from Chris Katje

July 05, 2023 | 5:18 pm

SPY

A Pentagon defense official has stated that a review found ambiguity in rules surrounding controls on classified information and inconsistencies in application across the military. There was no single point of failure for controls on classified military documents.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 5:06 pm

SPY

The Pentagon has announced plans to tighten security controls following a leak incident involving the Air National Guard. This includes the creation of 'Top Secret' Control Officer positions and the implementation of electronic device detection systems in top secret work areas by September 30, 2024.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 5:05 pm

USDCUSD

USDTUSD

Hong Kong government is considering launching its own stablecoin, the HKDG, backed by its foreign exchange reserves. This move is seen as a way to compete with existing stablecoins like Tether (CRYPTO: USDT) and USD Coin (CRYPTO: USDC). The proposal suggests that a government-backed HKDG stablecoin would offer greater credibility and lower risk than USDT and USDC. The experts believe it could also provide additional liquidity for government investment projects, facilitate the digitization of traditional assets, promote financial innovation and competitiveness, and increase transparency.

Portfolio Pulse from Murtuza Merchant

July 05, 2023 | 4:55 pm