Streetbeat News

Regulatory

SPY

U.S. Senators propose a $107 billion 5-year Federal Aviation Administration (FAA) Reauthorization Bill, which would require the FAA to increase runway safety, track high-altitude balloons, and prohibit family seating fees.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2023 | 7:55 pm

SPY

The U.S. SEC has charged investment adviser Sabby Management LLC and its managing partner, Hal D. Mintz, in a naked short-selling scheme. The SEC alleges that Sabby Management and Mintz engaged in illegal short-selling of securities.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2023 | 7:54 pm

PMBHF

The FDA has approved a clinical trial for PharmAla Biotech Holdings' (OTC:PMBHF) proprietary LaNeo Investigational Medical Product (IMP) 40mg MDMA capsules for the treatment of schizophrenia. The trial will be conducted at UCLA in early September with 20 participants.

Portfolio Pulse from Lara Goldstein

June 12, 2023 | 7:48 pm

COIN

Coinbase Global Inc (NASDAQ:COIN) shares are trading lower by 5.00% to $50.62 following recent SEC charges and a drop in May crypto notional trading volumes reported by Robinhood. The SEC alleges that Coinbase has unlawfully facilitated the buying and selling of crypto asset securities since 2019, resulting in billions of dollars.

Portfolio Pulse from Henry Khederian

June 12, 2023 | 7:43 pm

FXI

SPY

The White House has expressed concerns to the Cuban government about the possibility of housing a Chinese spy base in Cuba. The US-China bilateral relationship is currently tense, and the US aims to keep communications open.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2023 | 7:14 pm

BNBUSD

COIN

Binance.US is facing a liquidity crisis as market makers and traders leave the platform following the SEC lawsuit. Liquidity has dropped nearly 80% in one week, while Coinbase's market share has increased from 46% to 64%.

Portfolio Pulse from Murtuza Merchant

June 12, 2023 | 6:55 pm

BNBUSD

COIN

U.S. Rep. Warren Davidson has introduced a legislative bill aimed at overhauling the Securities and Exchange Commission (SEC) and ousting its Chairman Gary Gensler. This follows the SEC's recent enforcement actions against cryptocurrency exchanges Coinbase (NASDAQ:COIN) and Binance (CRYPTO: BNB) for breaches of U.S. securities laws.

Portfolio Pulse from Murtuza Merchant

June 12, 2023 | 6:44 pm

BNBUSD

ETHUSD

Bank of China's investment subsidiary, BOCI, has issued $28 million worth of Ethereum-based tokenized securities in Hong Kong, marking the first product of its kind in Asia Pacific. UBS collaborated with BOCI for this venture, following its own issuance of a $50 million tokenized fixed rate note in December.

Portfolio Pulse from Murtuza Merchant

June 12, 2023 | 6:44 pm

ATVI

MSFT

Xbox head Phil Spencer expressed confidence in the completion of Microsoft's acquisition of Activision Blizzard, despite regulatory hurdles. Both companies are appealing the UK Competition and Market Authority's block and awaiting approval from the US Federal Trade Commission.

Portfolio Pulse from Franca Quarneti

June 12, 2023 | 6:36 pm

META

Senator Ted Cruz criticized Meta Platforms Inc. for not being responsive enough to congressional oversight, raising concerns about the company's transparency.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2023 | 6:30 pm