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SHPW

Howard Marks, co-founder of Oaktree Capital, criticized the Federal Reserve's 'activist' approach, suggesting that the U.S. hasn't had a free market in decades. He warned that a return to low-interest rates could lead to poor investment behaviors and inflate asset prices, potentially causing bubbles and exacerbating wealth inequality. Marks emphasized the problems of the easy-money era before the pandemic and the risk of economic overheating leading to inflation. His comments come amid expectations that the Fed may cut interest rates again, with recent minutes suggesting rates are at or near their peak.

Portfolio Pulse from Benzinga Neuro

January 11, 2024 | 2:00 am

COIN

MSTR

NVDA

RIOT

TSLA

The stock market showed positive trends with the Nasdaq Composite, Dow Jones, and S&P 500 all closing higher. Individual stocks related to the cryptocurrency sector, such as Riot Blockchain (RIOT), Coinbase (COIN), and MicroStrategy (MSTR), experienced mixed results following the approval of Bitcoin Spot ETFs. NVIDIA (NVDA) saw gains despite challenges in China's AI market, while Tesla (TSLA) had a slight decrease amid global EV market competition.

Portfolio Pulse from Benzinga Neuro

January 11, 2024 | 1:53 am

BITW

BTC

GBTC

Economist Peter Schiff expressed skepticism about Bitcoin's utility following the SEC's approval of Bitcoin Spot ETFs. Schiff tweeted that there are now eleven more ways to speculate on Bitcoin, but questioned what's left to bet on given Bitcoin's lack of real-world utility compared to gold. He warned that wealth could be lost by late investors and suggested that the Bitcoin ETF approval might not lead to the expected rally. Bitcoin was trading higher at the time of the report. The SEC approved eleven Bitcoin ETFs, including those from Grayscale, Bitwise, Hashdex, iShares, Valkyrie, ARK 21Shares, Invesco Galaxy, VanEck, WisdomTree, Fidelity Wise Origin, and Franklin.

Portfolio Pulse from Benzinga Neuro

January 11, 2024 | 1:11 am

CYBN

ENVB

NUMIF

TSLA

The psychedelics industry is experiencing rapid growth, with the global market projected to reach $7.1 billion by 2032. The article highlights 30 influential figures in the field, including executives, scientists, and advocates, who are driving innovation and acceptance of psychedelic medicines. Among the notable individuals are Janet Qi of PurMinds Neuropharma, Dr. Anna Yusim, Kristina Spionjak of HLTH Communications, Marik Hazan of Tabula Rasa Ventures, Shayla Love, Doug Drysdale of Cybin Inc. (NYSE:CYBN), Dr. Beatriz Caiuby Labate of MAPS, Dr. David Meiri, Nataliya Vorobyeva of Hive Bio, Dr. Joseph Tucker of Enveric Biosciences (NASDAQ:ENVB), Amanda Siebert, Mattha Busby, Dennis Walker of Mycopreneur, Graham Pechenik, Rick Doblin of MAPS PBC, Jules Evans, Prof. David Nutt, Dr. Peter Grinspoon, Dr. Nolan Williams, Genevieve and Steve Jurvetson (Steve is an early VC investor in Tesla (NASDAQ:TSLA)), Reilly Capps, Payton Nyquvest of Numinus Wellness (OTC:NUMIF), Andrew Huberman, Dr. Max Wolff, Amanda Feilding, Dr. Rachel Yehuda, Dr. Mason Marks, David B. Yaden, and Dr. Robin Carhart-Harris. The article emphasizes the diverse backgrounds and contributions of these individuals to the advancement of psychedelic therapy for mental health.

Portfolio Pulse from Lara Goldstein

January 11, 2024 | 12:56 am

DKNG

Polymarket, a crypto prediction market, offers betting on various events including the 2024 U.S. presidential election. It has become a popular platform for wagering on political outcomes, with significant amounts bet on the Republican nominee and presidential election markets. Despite its popularity, Polymarket does not offer political betting to U.S. residents following a CFTC ruling. DraftKings CEO Jason Robins expressed interest in political betting in the U.S. and is working with regulators to approve it. DraftKings currently offers betting on the 2024 election in Ontario, Canada.

Portfolio Pulse from Chris Katje

January 11, 2024 | 12:28 am

FOX

FOXA

WBD

Former President Donald Trump's lead in the GOP presidential candidate polls has slightly decreased from a 55-point lead to a 52-point lead, with Ron DeSantis gaining ground and Nikki Haley maintaining third place. The upcoming fifth Republican primary debate on CNN, owned by Warner Bros. Discovery (NASDAQ:WBD), will not feature Trump, who will instead participate in a town hall on Fox News, owned by Fox Corporation (NASDAQ:FOX)(NASDAQ:FOXA). The debate is considered very important by 45% of voters, with interest in DeSantis and Haley's perspectives on Trump.

Portfolio Pulse from Chris Katje

January 11, 2024 | 12:19 am

BTCUSD

ETHUSD

Edward Snowden praised the SEC's approval of Bitcoin ETFs, highlighting the potential for computers to empower individuals. He suggested that the political stance on cryptocurrencies might improve as they begin to support pension funds and retirement accounts. The approval is seen as a significant step in merging traditional finance with the cryptocurrency market. At the time of the article, Bitcoin and Ethereum saw price increases of 0.7% and 9.29%, respectively.

Portfolio Pulse from Benzinga Neuro

January 11, 2024 | 12:18 am

BTCUSD

LINKUSD

USDTUSD

The SEC's approval of spot Bitcoin ETF applications is celebrated by crypto industry leaders as a significant milestone for digital assets. It is expected to bridge the gap between traditional finance and cryptocurrency, increase accessibility, and attract institutional investors. Experts from the Crypto Council for Innovation, Moody's, Chainlink, Wormhole, WisdomTree, Cypher Wallet, Tether, and Bitfinex provided positive remarks on the approval's implications for market stability, regulatory evolution, and the finance industry.

Portfolio Pulse from Murtuza Merchant

January 10, 2024 | 11:23 pm

BLK

GBTC

SPY

The SEC approved applications for spot Bitcoin ETFs, including Grayscale Bitcoin Trust (GBTC) and others. The approval follows a court ruling against the SEC, directing it to review Grayscale's application. The article compares a $1,000 investment in Bitcoin from July 1, 2013, to its value today, highlighting a hypothetical return of over 52,000%. It also compares returns from investments in SPY, Tesla, and Apple over the same period, with Bitcoin outperforming all.

Portfolio Pulse from Chris Katje

January 10, 2024 | 11:11 pm

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BTCUSD

SEC Chairman Gary Gensler emphasized that the SEC's approval of the first U.S. Spot Bitcoin ETFs does not constitute an endorsement of Bitcoin. The SEC approved 11 applicants, but Gensler reiterated concerns about Bitcoin's speculative nature and association with illicit activities. The statement contrasts Bitcoin with metals ETPs, which have consumer and industrial uses. Gensler's views align with those of JPMorgan's Jamie Dimon, who has criticized Bitcoin's value. Ark Invest's Cathie Wood sees the approval as positive for Bitcoin, while Bitcoin advocates on social media dismissed Gensler's tone. The approval does not imply that an Ethereum ETF will be approved soon.

Portfolio Pulse from Ivan Crnogatić

January 10, 2024 | 11:06 pm