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WASHINGTON, July 13 (Reuters) - Partnering with Coinbase Global (COIN.O) may hinder rather than help Nasdaq's (NDAQ.O) bid to win regulatory approval for a bitcoin exchange-traded-fund it wants to launch with BlackRock (BLK.N). The SEC has denied previous spot bitcoin ETF proposals on the basis that they would be vulnerable to manipulation. The SEC last month sued Coinbase, escalating SEC chair Gary Gensler's crackdown on the crypto industry. And with roughly 56% of U.S. dollar bitcoin trading, according to Nasdaq's filing, Coinbase is integral to the U.S. bitcoin market. All told, the SEC has 240 days after it accepts the bitcoin ETF filing applications to make a decision.

Persons: Larry Fink, Bitcoin, Coinbase, Gary Gensler's, John Reed Stark, Sui Chung, Gensler, Joseph Silvia, Dickinson Wright, Silvia, Chung, Richard Marshall, Katten, Marshall, Michelle Price, John McCrank, Hannah Lang, Will Dunham Organizations: Coinbase, BlackRock, Nasdaq, U.S . Securities, Exchange Commission, SEC, Cboe Global, Fidelity, FOX Business, Internet Enforcement, BlackRock's, Reuters, Thomson Locations: BlackRock, U.S

☆ Stocks making the biggest moves premarket: Delta Air Lines, PepsiCo, MillerKnoll and more
▼ + stars: | 2023-07-13 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Delta posted adjusted earnings per share of $2.68 cents, more than the $2.40 expected by analysts polled by Refinitiv. It gained adjusted revenue of $14.61 billion, greater than the $14.49 billion consensus estimate. MillerKnoll posted adjusted earnings of 41 cents per share on revenues of $957 million. PepsiCo — The beverage stock rose 2% after PepsiCo on Thursday beat earnings and revenue expectation in its recent results, and raised its full-year outlook. The firm reported adjusted earnings of $2.09 per share, more than the $1.96 per share consensus estimate from Refinitiv.

Persons: MillerKnoll, Noguchi, Eames, Refinitiv, Bob Iger's, Iger, Carvana, Bard chatbot, Morgan Stanley, SoFi, — CNBC's Michelle Fox, Jesse Pound Organizations: Delta Airlines, JFK International, Delta Air Lines, Air Lines, Refinitiv, PepsiCo, Walt Disney Company, Disney, CNBC, ViaSat, JPMorgan, European Union, Financial, Microsoft, Cirrus Logic, Barclays Locations: New York City, Americas, Brazil

☆ Sell crypto platform Coinbase before its earnings report, Barclays says
▼ + stars: | 2023-07-13 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Investors should dump Coinbase ahead of its earnings report, Barclays warned. Analyst Benjamin Budish downgraded the crypto platform to underweight from equal weight while raising his price target by $9 to $70. Despite the increase, his new target implies the stock could drop 18.6% in the next year from Wednesday's close. The stock has surged more than 140% in 2023, staging a comeback from 2022's nosedive as investors have closely watched crypto stocks. Coinbase is expected to report second-quarter earnings next month, per FactSet.

Persons: Benjamin Budish, Budish, we're, BlackRock, bearish, Michael Bloom Organizations: Barclays, Barclays isn't Locations: Wednesday's, Coinbase

CompaniesLaw Firms Ripple Labs Inc FollowCoinbase Global Inc FollowJuly 13 (Reuters) - Ripple Labs Inc did not violate federal securities law by selling its XRP token on public exchanges, a U.S. judge ruled on Thursday, a landmark legal victory for the cryptocurrency industry that sent the value of XRP soaring. An SEC spokesperson said the agency was pleased with part of the ruling in which the judge held that Ripple violated federal securities law by selling XRP directly to sophisticated investors. XRP sales on cryptocurrency platforms by Garlinghouse and co-founder and former CEO Chris Larsen, and other distributions including compensation to employees also did not involve securities, Torres ruled. PARTIAL WIN FOR THE SECThe SEC won a partial victory as Torres found the company's $728.9 million of XRP sales to hedge funds and other sophisticated buyers amounted to unregistered sales of securities. Both the Ripple and Coinbase cases focus on registration requirements and whether certain digital assets are securities under U.S. law.

Persons: XRP, Analisa Torres, Brad Garlinghouse, We’ve, Torres, Paul Grewal, Chris Larsen, Garlinghouse, Larsen, Gary DeWaal, Rosenman, Tom Emmer, Jody Godoy, Chris Prentice, Tom Hals, Chizu Nomiyama, Conor Humphries, Leslie Adler, David Gregorio Our Organizations: Labs, Ripple Labs, U.S, District, U.S . Securities, Exchange Commission, SEC, Twitter, Supreme, WIN FOR, Republican, Thomson Locations: U.S, XRP, Katten, New York, Wilmington , Delaware

☆ Here are Wednesday's biggest analyst calls: Nvidia, Tesla, DraftKings, Amazon, Netflix, TJX and more
▼ + stars: | 2023-07-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

TD Cowen reiterates Nvidia as outperform TD Cowen said it's standing by its outperform rating on the stock. Bank of America upgrades DraftKings to buy from neutral Bank of America upgraded the fantasy sports company due to a margin inflection. Citi reiterates Tesla as neutral Citi said it's "neutral to slightly negative" on Tesla heading into earnings next week. Bank of America upgrades Stellantis to buy from neutral Bank of America said in its upgrade of the European automaker that it sees valuation upside. Bank of America downgrades Cisco to neutral from buy Bank of America said in its downgrade of Cisco that consensus estimates are too high.

Persons: TD Cowen, Cowen, it's, Oppenheimer, Baird, Locker, underperformed Ford, JPM, YTD, Holley, Tesla, Raymond James, SunPower, it's bullish, Morgan Stanley, Lazard, Davidson downgrades Redfin, Davidson Organizations: Nvidia, NVIDIA, Nasdaq, AMD, Companies, Citi, General Motors Citi, Watch, GM, JPMorgan, Bank of America, of America, UBS, Netflix, Tech, Cisco, AstraZeneca Locations: China, California

☆ Cathie Wood's ARK fund hits 11-month high as inflation ebbs
▼ + stars: | 2023-07-12 | by ( David Randall | ) www.reuters.com time to read: +2 min

NEW YORK, July 12 (Reuters) - The flagship fund of star stockpicker Cathie Wood hit an 11-month high Wednesday, extending a rally that has been powered by bets that inflation would fall rapidly and benefit the sort of speculative technology stocks she is known for. The $8.4 billion ARK Innovation ETF (ARKK.P) rose 0.6% in morning trading Wednesday to its highest level since August 2022. Wood's fund was among the worst-performing U.S. equity funds overall in 2022 as she continued to downplay the impact of inflation and said that deflation would be the larger issue driving markets. Lower interest rates help unprofitable or other early-stage companies by lowering their borrowing costs and increasing the value of future profits. "Anything that puts interest rate hikes at bay is definitely positive for any small-cap or speculative tech stock," he said.

Persons: stockpicker Cathie Wood, Jamie Cox, David Randall Organizations: YORK, Coinbase Global Inc, Sciences, Commerce Department, Federal Reserve, Harris Financial Group, Thomson

☆ Crypto firm Circle to cut workforce, focus on core activities
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +1 min

July 12 (Reuters) - Circle said on Wednesday it has reduced staff and ended investments in non-core activities as the stablecoin issuer seeks to shore up its balance sheet. Coinbase Global (COIN.O), Chainalysis and Gemini all announced layoff plans earlier in the year after more than a trillion dollars were wiped out from the sector in 2022. "Circle is redoubling its focus on core business activities and execution," the company said in an email to Reuters, adding that it was continuing to hire in "key areas of focus." Crypto news portal CoinDesk reported about the developments at Circle earlier in the day. Reporting by Pritam Biswas in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Pritam Biswas, Vinay Dwivedi Organizations: Coinbase, Gemini, Reuters, Thomson Locations: Bengaluru

☆ Atlantic Equities downgrades Coinbase after rally, cites weak crypto volume
▼ + stars: | 2023-07-12 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

It's time to step to the sidelines on Coinbase after its recent rally, according to Atlantic Equities. Analyst Simon Clinch downgraded Coinbase to neutral but raised his price target, following the crypto exchange operator's run-up. "We are raising our target price to $80, reflecting the impact of higher crypto prices, but downgrading the shares to Neutral given the limited upside." COIN 1D mountain Coinbase shares 1-day The analyst's price target represents downside of about 10% for Coinbase shares from Tuesday's closing price of $89.15. But the analyst pointed out cryptocurrency volumes are currently low, even as high prices buoy investor sentiment.

Persons: Simon Clinch, Clinch, Coinbase, USDC, Michael Bloom Organizations: Coinbase, U.S . Securities, Exchange Commission Locations: Coinbase

☆ Coinbase's rally looks at risk amid analyst downgrades
▼ + stars: | 2023-07-12 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCoinbase's rally looks at risk amid analyst downgradesCNBC’s Kate Rooney joins 'Squawk on the Street' to report on Coinbase's recent rally being at risk amid analyst downgrades.

Persons: downgrades CNBC’s Kate Rooney, downgrades

Coinbase (COIN.O) and Binance.US, two of the largest crypto exchanges by market share among those operating in America, have lost ground this year. Bitstamp's global market share among exchanges operating in the U.S. has risen to about 9%. Coinbase and LMAX declined to comment on the data, while Binance.US - the American affiliate of the world's largest crypto exchange - didn't respond to a request for comment. It may not be that simple for hungry challengers to grab market share, according to market players. In years gone by, crypto exchanges could swiftly gobble up business by offering access to a swathe of coins.

Persons: Sam Bankman, FTX, Ravi Doshi, Guy Hirsch, Bobby Zagotta, Wade Guenther, Doshi, Hannah Lang, Michelle Price Organizations: U.S . Securities, Exchange Commission, SEC, LMAX, Genesis, Bitstamp, Reuters Graphics, Wilshire, Thomson, Reuters Locations: United States, America, Binance.US, U.S, Bitstamp USA, solana, Washington

☆ Singapore's Temasek says it's not looking to invest in crypto firms amid current regulatory uncertainties
▼ + stars: | 2023-07-11 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

Rohit Sipahimalani, chief investment officer of Temasek Holdings Pte, speaks during a news conference in Singapore, on Tuesday, July 11, 2023. Ore Huiying | Bloomberg | Getty ImagesSingapore's sovereign wealth fund Temasek is not currently looking to invest in crypto companies amid regulatory uncertainty in the sector, its chief investment officer Rohit Sipahimalani said. "There's a lot of regulatory uncertainty in this environment. The U.S. Securities and Exchange Commission charged top U.S. crypto exchange Ripple for breaching local securities laws by selling its native token XRP without first registering it with the regulator. The SEC separately charged another U.S. crypto exchange Coinbase for operating as an unregistered securities exchange, a broker or a clearing firm.

Persons: Rohit Sipahimalani, Sipahimalani, Coinbase, We've, we'll Organizations: Temasek Holdings, Bloomberg, Getty, Temasek, CNBC, U.S . Securities, Exchange Commission, SEC Locations: Singapore, cryptocurrency, cryptocurrencies, FTX

☆ Cboe exchange to partner with Coinbase on bitcoin market surveillance in ETF push
▼ + stars: | 2023-07-11 | by ( John Mccrank | ) www.reuters.com time to read: +2 min

NEW YORK, July 11 (Reuters) - Exchange operator Cboe Global Markets (CBOE.Z) on Tuesday filed amended applications to list and trade shares of three spot bitcoin exchange-traded funds, including one by Fidelity, to add surveillance-sharing agreements with crypto-trading platform Coinbase (COIN.O). Shares of Coinbase closed up 9.8% at $89.15 on Tuesday and hit their highest level since Aug. 16 of last year. To meet the standards, an exchange could show it "has a comprehensive surveillance-sharing agreement with a regulated market of significant size related to the underlying or reference bitcoin assets," the SEC said. Nasdaq (NDAQ.O) on June 29 refiled an application with the SEC to list a spot bitcoin ETF by BlackRock (BLK.N), the world's largest asset manager, which also included a surveillance-sharing agreement with Coinbase. Cboe had earlier said it expected to reach such an agreement with Coinbase, which attracted roughly half of U.S. dollar-bitcoin trading in May on its platform.

Persons: Cboe, Coinbase, John McCrank, Matthew Lewis Organizations: YORK, Cboe, Fidelity, U.S . Securities, Exchange Commission, SEC, Nasdaq, BlackRock, Coinbase, ., Thomson Locations: Manhattan, New York

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCoinbase shares rise amid bitcoin ETF optimism, and U.K. cracks down on crypto ATMs: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Sachin Jaitly of Morgan Creek Capital Management breaks down the trend of governments around the globe holding crypto.

Persons: explainers, Sachin Jaitly Organizations: CNBC Crypto, CNBC, Morgan Creek Capital Management Locations: Morgan Creek

☆ Bitcoin, Coinbase Are Soaring Despite Obstacles Facing Spot Bitcoin ETFs
▼ + stars: | 2023-07-10 | by ( Vicky Ge Huang | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/bitcoin-coinbase-are-soaring-despite-obstacles-facing-spot-bitcoin-etfs-d028ddab

Persons: Dow Jones

☆ BlackRock wants to launch a bitcoin ETF. Why now?
▼ + stars: | 2023-07-10 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

BlackRock's CEO talked up bitcoin last week, with the asset manager trying to launch a fund that tracks it. BlackRock is trying to become the first asset manager to launch a fund tracking the price of bitcoin. CEO Larry Fink has backed up his firm's push for the spot ETF by repeating bitcoin bulls' usual talking points, saying last week that the token is akin to "digitizing gold" and could eventually "revolutionize" finance. And the fact that BlackRock filed for its ETF off the back of that rally probably speaks to Wall Street's desire not to miss out on another potential bull run. BlackRock's spot ETF filing, and Fink's conversion from skeptic to potential savior, suggest that Wall Street is determined not to make the same mistake twice.

Persons: Larry Fink, aren't, Fink hasn't, Sam Bankman, bitcoin Organizations: BlackRock, Securities and Exchange Commission, Institutional, SEC

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMATIC jumps 3%, and SEC says Coinbase knew it could have violated law before suit: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Muneeb Ali of Trust Machines, weighs in on the impact for the crypto industry as finance titans like BlackRock and Fidelity have pushed for spot bitcoin ETFs.

Persons: Coinbase, explainers, Muneeb Ali Organizations: SEC, CNBC Crypto, CNBC, Trust Machines, titans, BlackRock, Fidelity

☆ Analysis: U.S. crypto lobbyists court Democrats in fresh legislative push
▼ + stars: | 2023-07-10 | by ( Michelle Price | ) www.reuters.com time to read: +5 min

That effort escalated last month when the SEC sued crypto exchanges Coinbase and Binance for failing to register some crypto tokens. Most crypto companies dispute the SEC's jurisdiction. It would expand the Commodity Futures Trading Commission's (CFTC) oversight of the crypto industry, while clarifying the SEC's jurisdiction. With Democrats' support, the bill could have a shot in the Senate. McHenry and Thompson are discussing the proposal with crypto companies, regulators and Democrats, and hope the committees will vote on it before the August recess, senior Republican policy staff said.

Persons: Cody Carbone, Patrick McHenry, Glenn Thompson, Brett Quick, McHenry, Thompson, Maxine Waters, David Scott, Scott, Vicente Gonzalez, Sylvia Garcia, Carbone, Spokespeople, Waters, Gonzalez, Garcia, Sam Bankman, Fried, Kristin Smith, Coinbase, spender, Kara Calvert, It's, Michelle Price, Hannah Lang, Douglas Gillison, Richard Chang Organizations: U.S . Securities, Exchange Commission, SEC, Capitol, Blockchain Association, Chamber of Digital Commerce, Crypto, Innovation, Coinbase, Financial Services, Agriculture, Trading, Republican, Thomson Locations: Washington, United States

☆ Refile and wait? Pulse check on the quest for a spot bitcoin ETF
▼ + stars: | 2023-07-07 | by ( Kevin Schmidt | ) www.cnbc.com time to read: +3 min

But the regulator still found the filings to lack clarity and comprehension, prompting BlackRock to refile last week. BlackRock first filed its application to launch the iShares Bitcoin Trust last month, with Fidelity following suit two weeks later. "However, if [the SEC] is trying to manufacture a way to approve a bitcoin ETF, this would be the way to do it. The filings come amid an ongoing legal battle between Grayscale and the SEC about converting its Grayscale Bitcoin Trust (GBTC) into an ETF. "But certainly, things look more positive than they did maybe three weeks ago, six weeks ago."

Persons: Dave Nadig, Bob Pisani, BlackRock, Nadig, Coinbase, they've Organizations: Fidelity, BlackRock, U.S . Securities, Exchange Commission, Coinbase, SEC Locations: CNBC's, refile

☆ RFK Jr. touted bitcoin, but said he wasn't an investor. Financial records show otherwise
▼ + stars: | 2023-07-07 | by ( Brian Schwartz | ) www.cnbc.com time to read: +6 min

Robert F. Kennedy Jr., son of former US Senator Robert F. Kennedy, speaks during the Bitcoin 2023 conference in Miami Beach, Florida, US, on Friday, May 19, 2023. Since the conference, Kennedy has continued to tout bitcoin. Kennedy said at the Miami bitcoin conference that if he were to become president he would "make sure that your right to hold and use bitcoin is inviolable." Kennedy, 69, is the son of former Attorney General Robert F. Kennedy and the nephew of former President John F. Kennedy, both of whom were assassinated in the 1960s. In May, days before he took the stage the Miami bitcoin conference, Kennedy tweeted: "Cryptocurrencies, led by bitcoin, along with other crypto technologies are a major innovation engine.

Persons: Robert F, Kennedy Jr, Kennedy, Virginia Canter, Cheryl Hines, Canter, Hines, I'm, Gamble, Mr, Joe Biden's, Gary Gensler, headwinds, Biden, John F, Kennedy's, Jack Dorsey, David Sacks, Chamath, Omeed Malik, bitcoin Organizations: Democratic, CNBC, Procter, Miami bitcoin, Securities, Exchange, SEC, Biden, Quinnipiac, Children's Health Defense, CHD, U.S Locations: Miami Beach , Florida, Miami, bitcoin, Washington, cryptocurrencies, U.S

☆ A monster rally in just 3 stocks has caused short sellers to lose $30 billion so far this year
▼ + stars: | 2023-07-07 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The strong rally in stocks this year has sparked big losses for short sellers, according to S3 Partners. These are the three stocks that sparked $30 billion in losses for short sellers, according to S3. In total, short sellers have seen $122.1 billion in mark-to-market losses in the first six months of the year, and just three stocks drove a total loss of $30 billion. These are the top 10 stocks that have driven the biggest losses for short sellers so far this year, according to S3 Partners. TeslaTesla launched its insurance product in 2019 Getty ImagesTicker: TSLAShort seller losses: $13.0 billionYear-to-date performance: 126.5%

Persons: —, Ihor Dusaniwsky, Dusaniwsky, it's, Lisa Su Steve Marcus, Microsoft Justin Sullivan, Nvidia Jensen Huang, Las Vegas Rick Wilking, Tesla Tesla Organizations: S3 Partners, Service, Partners Research, Partners, Nasdaq, Reuters, Broadcom Reuters, Palo Alto, Microsoft, Apple Apple, Nvidia, CES Locations: Las Vegas

☆ Binance market share takes regulatory hit, its US affiliate shrinks
▼ + stars: | 2023-07-05 | by ( Medha Singh | ) www.reuters.com time to read: +1 min

July 5 (Reuters) - The market share of Binance, the world's largest cryptocurrency exchange, and its U.S. affiliate have shrank this year, as they battle an onslaught of regulatory crackdowns. Last month, Binance was hit by a lawsuit by the U.S. Securities and Exchange Commission for allegedly breaching the regulator's rules, pushing its global market share to 52% from 60% at the start of the year, according to data firm Kaiko. Binance had begun to cede market share in March after its move to end zero-fees transactions for some trading pairs, said Dessislava Aubert, an analyst at Kaiko. "Binance's market share has gone to a variety of exchanges with Bybit and OKX faring best," Aubert said. Crypto companies dispute that crypto tokens are securities and have repeatedly called for the SEC to create clear rules.

Persons: Binance, Dessislava Aubert, " Aubert, Binance.US, Aubert, Kaiko, bitcoin, Medha Singh, Maju Samuel Organizations: U.S, U.S . Securities, Exchange Commission, SEC, Fidelity, BlackRock, Thomson Locations: U.S, Bengaluru

☆ Stocks making the biggest moves in the premarket: Rivian, UPS, Coinbase and more
▼ + stars: | 2023-07-05 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

The Securities And Exchange Commission has filed a lawsuit against cryptocurrency exchange Coinbase for allegedly violating securities laws by acting as an exchange, a broker and a clearing agency without registering with the Securities and Exchange Commission. United Parcel Service — Shares of the logistics and delivery company fell more than 1% in premarket trading as negotiations between UPS and the Teamsters union appeared to hit an impasse. The union said in a statement Wednesday that negotiations had collapsed after UPS "walked away from the table." UPS said in response that it had not walked away and was encouraging the union to return to the table. The current UPS Teamsters contract expires at the end of July.

Persons: Justin Sullivan, Coinbase, Piper Sandler, Hertz, Hertz — Hertz, Jefferies, Macheel, Jesse Pound Organizations: Securities, Exchange, Securities and Exchange Commission, United Parcel Service, UPS, Teamsters, UPS Teamsters, Coinbase, AstraZeneca, Citi, Hertz — Locations: CALIFORNIA, San Anselmo , California

☆ FTX customers who lost all their money when the exchange collapsed should blame the SEC, Mark Cuban says
▼ + stars: | 2023-07-05 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +2 min

FTX customers who lost all their money when the exchange collapsed should blame the Securities and Exchange Commission, according to Mark Cuban. "Of course they chose to litigate to regulate," Cuban said. FTX filed for bankruptcy in November after a bombshell report sparked a run on its deposits, with its collapse wiping out billions of dollars worth of customers' money. "When FTX crashed, no one in FTX Japan lost money," Cuban wrote. "If the USA/SEC had followed their example by setting clear regulations that required the separation of customer and business funds and clear wallet requirements, no one here would have lost money on FTX," he added.

Persons: Mark Cuban, Cuban, —, FTX, Sam Bankman Organizations: Securities and Exchange Commission, SEC, Service, Dallas Mavericks Locations: Japan, FTX Japan, USA

Piper Sandler says there's too much uncertainty around Coinbase , and investors need to stay away. A lack of regulatory clarity also drove the downgrade, according to analyst Patrick Moley. He lowered his price target to $60 from $65, which implies shares drawing back 24.9% from Monday's close. "However, rising crypto prices have not translated to increased trading volumes for COIN in recent quarters and the timing of a spot bitcoin ETF approval is anyone's guess," said Moley. The analyst expects Coinbase to post its lowest quarterly trading volumes and monthly transacting user totals in over two years for the second quarter.

Persons: Piper Sandler, there's, Patrick Moley, Moley, Coinbase, — CNBC's Michael Bloom Organizations: Securities and Exchange Commission, SEC Locations: Coinbase, Monday's

☆ Stocks making the biggest moves midday: Meta Platforms, Coinbase, UPS, General Motors & more
▼ + stars: | 2023-07-05 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Meta Verified displayed on mobile with Meta on screen, seen in this photo illustration, on February 27, 2023 in Brussels, Belgium. Meta Platforms — Shares of the social media giant rose more than 2% even after a European Court ruled against Meta in an anti-trust case on Tuesday. Moderna – The Massachusetts-based biotechnology company added 2.1% after announcing it reached an agreement with officials to manufacture and develop mRNA medicines in China. General Motors — The legacy automaker added climbed nearly 1% after the company said U.S. sales increased 18.8% in the second quarter. The union said in a statement Wednesday that talks had collapsed after UPS "walked away" from negotiations.

Persons: Meta, Coinbase, Piper Sandler, Coinbase hasn't, —, General Motors, Donald Trump, Samantha Subin, Tanaya Macheel, Michelle Fox, Hakyung Kim, Jesse Pound, Alex Harring Organizations: Meta, Twitter, Renesas Electronics, Moderna, General, Equity Investment, Brookfield, United Parcel Service, Teamsters, UPS, Securities and Exchange Commission, SEC Locations: Brussels, Belgium, The Massachusetts, China

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