Streetbeat News

Regulatory

COIN

HOOD

MATICUSD

The SEC's crackdown on crypto exchanges like Coinbase and Binance has impacted various cryptocurrencies, leading some exchanges like Robinhood to delist certain tokens, including Polygon (MATIC). In response, the Polygon team emphasized the importance of MATIC for network security and its non-US focus. Social contributors related to MATIC are up over 50%, driving the price to $0.62, up 4% in the last 24 hours. TraderSZ predicts MATIC will hit $1.08 levels soon.

Portfolio Pulse from Mehab Qureshi

June 12, 2023 | 3:57 am

BTCUSD

DOGEUSD

ETHUSD

Major cryptocurrencies exhibited mixed trading amid regulatory challenges and liquidity concerns. The SEC crackdown on crypto exchanges and labeling of major altcoins as securities caused market turbulence. However, Bitcoin and Ethereum showed resilience, while on-chain data analytics firm Santiment suggests Bitcoin's accumulating whales signal a bullish divergence.

Portfolio Pulse from Mehab Qureshi

June 12, 2023 | 2:35 am

SHIBUSD

Shiba Inu (CRYPTO: SHIB) has fallen from its all-time highs, but a $100 investment today could be worth $1,324.50 if it returns to those levels. The coin gained popularity after being added to platforms like Coinbase, Kraken, and Robinhood, but faces increased pressure from the SEC.

Portfolio Pulse from Chris Katje

June 11, 2023 | 7:12 pm

AMZN

MO

Senator Elizabeth Warren expressed concerns about large corporations like Amazon and Altria dominating the cannabis industry and emphasized the need for legalization policies that prioritize small businesses and communities affected by the war on drugs.

Portfolio Pulse from Maureen Meehan

June 11, 2023 | 6:17 pm

TSLA

Tesla's Autopilot system has been involved in 736 accidents and 17 fatalities in the US since 2019, according to a Washington Post analysis of National Highway Traffic Safety Administration data. The recent data shows a significant increase in fatalities compared to a June 2022 report. The NHTSA is currently investigating Tesla Autopilot and its full-self driving features.

Portfolio Pulse from Shanthi Rexaline

June 11, 2023 | 5:46 pm

BAC

Soros Fund Management CEO Dawn Fitzpatrick warns of more bank failures, particularly among small banks, due to ongoing concerns in the troubled banking sector. She believes that banks must prepare for incoming regulatory measures, which she calls 'pretty punitive.' The Federal Reserve is expected to introduce regulations requiring banks to report unrealized losses on assets such as government bond holdings.

Portfolio Pulse from Bibhu Pattnaik

June 11, 2023 | 5:21 pm

EWG

INTC

Germany has reportedly refused Intel's additional demand for subsidies for its chip plant, according to the Financial Times.

Portfolio Pulse from Charles Gross

June 11, 2023 | 2:12 pm

ACHR

SPY

VGK

Archer Aviation CEO stated in an interview with Financial Times that European regulation is not good for business, potentially affecting the company's expansion plans.

Portfolio Pulse from Charles Gross

June 11, 2023 | 1:24 pm

NTLA

Intellia Therapeutics announced updated interim results from the Phase 1 portion of the ongoing Phase 1/2 study of NTLA-2002, a CRISPR-based therapy for hereditary angioedema (HAE). The data showed durable elimination of HAE attacks after a single dose, with a favorable safety profile.

Portfolio Pulse from Charles Gross

June 11, 2023 | 1:15 pm

BAC

Gold bug Peter Schiff warns that the US banking system is insolvent and would collapse without government backstops. He highlights Bank of America's low interest rates on savings and checking accounts compared to the fed funds rate. Schiff's warning comes as the Federal Reserve is set to meet for a two-day monetary policy meeting.

Portfolio Pulse from Shanthi Rexaline

June 11, 2023 | 12:29 pm