Streetbeat News

Security

VIRT

Virtu Financial, Inc. (NASDAQ:VIRT) is being sued by the U.S. Securities and Exchange Commission (SEC) over allegations of false and misleading disclosures relating to customer information barriers. The SEC alleges that Virtu's database was accessible to practically anyone, including proprietary traders, through generic usernames and passwords. Virtu believes the SEC's actions are politically motivated and plans to defend itself in court.

Portfolio Pulse from Nabaparna Bhattacharya

September 13, 2023 | 11:42 am

EWG

WIT

Wipro Limited has announced the launch of its Cyber Defense Center (CDC) in Dusseldorf, Germany. This is the 17th CDC by Wipro, aimed at providing round-the-clock cybersecurity monitoring, incident response, and remediation support. The center will leverage Microsoft’s portfolio of cybersecurity products as part of Wipro and Microsoft’s global partnership.

Portfolio Pulse from Charles Gross

September 13, 2023 | 11:10 am

DB

Deutsche Bank is reportedly using artificial intelligence tools to detect potential misconduct from the tone of traders' phone conversations. The bank is leveraging Google Cloud's machine learning to explore the use of large language models. The AI will guide analysts to points of interest in the conversations. The bank is also on a hiring spree, planning to add more to its base of 16,000 staff working on tech, data, and innovation. However, some attorneys caution about the potential pitfalls of using AI to identify misconduct.

Portfolio Pulse from Nabaparna Bhattacharya

September 13, 2023 | 10:47 am

SPY

VGK

Russia's Defense Minister has stated that Russia has no other options than to win in Ukraine, according to Reuters citing Russia's RIA.

Portfolio Pulse from Charles Gross

September 13, 2023 | 10:29 am

MGM

MGM Resorts International has identified a cybersecurity issue affecting some of its systems. The company has initiated an investigation with the help of external cybersecurity experts and has notified law enforcement. Measures are being taken to protect the systems and data, including shutting down certain systems. The investigation is ongoing.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 10:16 am

SPY

VGK

Ukraine's military has successfully hit naval targets and port infrastructure in Sevastopol Bay, according to Reuters. This could potentially impact global markets and ETFs such as SPY and VGK.

Portfolio Pulse from Charles Gross

September 13, 2023 | 9:41 am

AAPL

The Chinese government has expressed concerns over 'security incidents' involving Apple Inc.'s iPhones, according to a statement by Chinese Foreign Ministry spokeswoman Mao Ning. This comes amid reports of China banning iPhones and other foreign-made devices. However, Ning denied any official ban on iPhones. China accounts for 19% of Apple's revenue, making it a key market for the company.

Portfolio Pulse from Rounak Jain

September 13, 2023 | 9:02 am

BTCUSD

ETHUSD

Republican Representative Tom Emmer has reintroduced the 'CBDC Anti-Surveillance State Act' in the United States House of Representatives, aiming to prevent the Federal Reserve from issuing a central bank digital currency (CBDC). Emmer views CBDCs as a potential surveillance tool that could compromise financial privacy. The bill has received support from several senators. The reintroduction of this bill comes amidst growing concerns over the potential misuse of CBDCs for collecting sensitive financial data.

Portfolio Pulse from Benzinga Neuro

September 13, 2023 | 6:18 am

BTCUSD

ETHUSD

CFTC Commissioner Christy Goldsmith Romero has suggested that regulators need to update their protection measures with technological advances, or crypto investors could be impacted. Romero has picked technology experts in fintech, responsible artificial intelligence, cryptocurrency, blockchain, and cybersecurity for the CFTC’s Technology Advisory Committee (TAC). The TAC is being asked to identify ways to install Know Your Customer (KYC) and Anti-Money Laundering (AML) processes into decentralized finance and crypto investment avenues.

Portfolio Pulse from Khyathi Dalal

September 12, 2023 | 8:51 pm

ETHUSD

Solidus Labs has identified $2 billion worth of wash trades on Ethereum-based decentralized exchanges (DEXs) since 2020. The firm analyzed around 30,000 DEX liquidity pools and found that 67% were tainted by wash traders. These activities accounted for 16% of the total trading volume in these manipulated pools. Solidus Labs' CEO, Asaf Meir, stated that market manipulation remains a significant challenge within the crypto industry.

Portfolio Pulse from Murtuza Merchant

September 12, 2023 | 6:02 pm