Streetbeat News

Security

FTTUSD

Insiders from cryptocurrency exchange FTX (CRYPTO: FTT) have revealed a concealed mechanism linked to Alameda Research that allowed unauthorized withdrawal of billions in customer funds. The issue was reported to the company's higher-ups but no action was taken. The 'backdoor' is now a focal point in the ongoing trial against FTX's former head, Sam Bankman-Fried, who faces charges of fraud in a New York federal court. The discrepancy was first noticed by a team from LedgerX, a U.S. crypto-derivatives exchange acquired by FTX.

Portfolio Pulse from Murtuza Merchant

October 05, 2023 | 6:18 pm

BTCUSD

Former senior inspector Dmitry Gubin of Moscow is under arrest warrant for allegedly receiving 2,718 Bitcoin ($74.5 million) in bribes. There are suspicions that he has left the country. This follows the arrest of Gubin’s subordinate Kristina Lyakhovenko last month in a similar case. The suspects are believed to have formed a criminal syndicate to receive bribes from individuals connected to various criminal cases. In other news, Binance announced it would sell its Russia business to the newly launched exchange CommEX due to international sanctions imposed on Russia.

Portfolio Pulse from Khyathi Dalal

October 05, 2023 | 4:41 pm

SPY

VGK

Russian President Vladimir Putin has stated that Russia has always been against Ukraine joining NATO, viewing it as a threat to their security. This statement could potentially escalate geopolitical tensions.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 4:35 pm

GM

GM shares are trading lower following a report suggesting the company has at least 20 million vehicles with potentially explosive airbag parts.

Portfolio Pulse from Bill Haddad

October 05, 2023 | 4:20 pm

TGT

Target Corporation's shares hit a new 52-week low of $104.63. Truist Securities analyst Scot Ciccarelli maintained a Hold rating on Target shares and lowered his price target from $133 to $116, citing softening spending trends. Target announced the closure of several stores in four states due to theft and organized retail crime. The company's shares are down more than 35% over the last six months.

Portfolio Pulse from Erica Kollmann

October 05, 2023 | 3:44 pm

FXI

SPY

The US Army is planning major cuts to its special-operations forces, including the Green Berets, as it struggles with recruiting and shifts its focus towards China. This comes after a significant expansion of these forces post-9/11.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 3:22 pm

SPY

VGK

Russian President Vladimir Putin has stated that Ukraine has lost more than 90,000 personnel since the start of the counter offensive. He also expressed confidence in achieving Russia's goals in Ukraine.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 3:12 pm

COIN

SQ

Block (NYSE:SQ), formerly known as Square and led by Jack Dorsey, is officially launching its Bitcoin hardware wallet, BitKey. The wallet aims to provide additional security layers and eliminate intermediary roles. The launch comes amid the crypto industry facing security and governance issues. BitKey will feature a mobile app, hardware device, and a set of recovery tools. The transfer of Bitcoin to BitKey is facilitated from exchange partners — Coinbase (NASDAQ:COIN) and Cash App.

Portfolio Pulse from Khyathi Dalal

October 05, 2023 | 2:11 pm

CLX

Clorox reported preliminary Q1 financial results and is assessing the impact of a previously-announced cybersecurity attack on FY24 and beyond. This has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 12:39 pm

BABA

Belgium's intelligence service is closely monitoring Alibaba Group Holding Ltd's European logistics hub due to concerns of potential espionage and data misuse. Alibaba's logistics subsidiary, Cainiao, is under scrutiny. The company established its presence in Liège, Belgium, in 2018. The Belgian State Security Service has intensified its monitoring of Alibaba's operations, focusing on software systems that gather sensitive economic data. Alibaba's shares traded lower by 0.75% at $83.45 premarket on the last check Thursday.

Portfolio Pulse from Anusuya Lahiri

October 05, 2023 | 12:32 pm