South Africa’s financial watchdog is the latest financial markets regulator to issue a public warning against the crypto exchange Binance.
What Happened: The Financial Sector Conduct Authority (FCSA) issued a press release on Friday warning the public to be cautious when dealing with the Binance Group.
The regulator also declared that the entity was “not authorised to give any financial advice or render any intermediary services” in the country as per the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act) in South Africa.
“If something goes wrong, you’re unlikely to get your money back and will have no recourse against anyone,” stated the FCSA.
As of this week, Binance has also been barred from operations in Singapore. The Monetary Authority of Singapore (MAS) ordered the exchange to stop providing payment services in Singapore and to cease soliciting business from the country’s residents.
MAS also placed Binance.com on its Investor Alert List. The regulator’s move comes despite its former director joining Binance Singapore as chief executive officer last week.
Why It Matters: Even as the crypto exchange faces increased regulatory scrutiny worldwide, however, it continues to grow its user base and trading volume. At the time of writing, Binance had a 24-hour trading volume over $30 billion.
Top Financial Stocks To Buy For 2023: Capricor Therapeutics, Inc.(CAPR)
Capricor Therapeutics, Inc., incorporated on January 26, 2007, is a development-stage biopharmaceutical company. The Company develops and commercializes regenerative medicine and large molecule products for the treatment of disease, with a primary focus on cardiovascular diseases. The Company has six drug candidates in stages of development, which include CAP-1002, CAP-1001, CSps, Exosomes, Cenderitide (CD-NP) and CU-NP. The Company’s technology is based in cardiospheres (CSps), which are multi-cell clusters of cardiac derived cells. The Company’s product candidate, the cardiosphere-derived cells (CDC), is the single cell monolayer product of the CSps. Both CSps and CDCs are derived from a deceased human donor (allogeneic source) or from heart tissue taken directly from recipient patients themselves (autologous source).
The Company’s product candidate consists of allogeneic cardiosphere-derived cells. The Company is testing CAP-1002 in Capricor’s ALLSTAR Phase I/II clinical trial. It is a dual cohort clinical trial that has two independently recruiting strata: the first are patients who have recently experienced a myocardial infarction (30-90 days post myocardial infarction); the second are patients who have suffered an myocardial infarction within one year (90 days to one-year post MI) to see if the cells can reduce the size of older, more established scar.
CAP-1001 consists of autologous CDCs. This product was used in the Phase I CADUCEUS clinical trial. The data from CADUCEUS, using autologous CDCs, demonstrate that the cells are effective in reducing scar within several months of a heart attack.
CSps are multicellular clusters called cardiospheres, a 3D micro-tissue from which CDCs are derived. It has shown healing effects in pre-clinical models of heart failure. The Company considers the CSps as a product.
Exosomes are nano-sized, membrane-enclosed vesicles, that are filled with select molecules, including proteins and microRNAs, which, when released send messages to neighboring cells to regulate cellular functions. Exosomes act as a transport vehicle out of the cell for microRNA, other fragments of genetic material and proteins that act as messengers between cells, providing regulatory function for many cell processes, including inflammation, angiogenesis, programmed cell death (apoptosis) and scarring.
Cenderitide (CD-NP) belongs to a class of drugs called natriuretic peptides. Cenderitide is designed as an outpatient therapy to be delivered continuously using a validated subcutaneous infusion pump for up to 90 days (the post-acuteperiod) following a hospital admission for Acute Decompensated Heart Failure (ADHF).
CU-NP is a pre-clinical rationally-designed natriuretic peptide. It consists of amino acid chains identical to those produced by the human body, the ring structure of C-type natriuretic peptide (CNP), and the N- and C-termini of Urodilatin (URO). CU-NP is formulated and manufactured by third parties and they provide the Company with the devices and other products necessary to administer it.
- [By Logan Wallace]
Media headlines about Capricor Therapeutics (NASDAQ:CAPR) have trended somewhat positive this week, according to Accern Sentiment Analysis. Accern scores the sentiment of press coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Capricor Therapeutics earned a media sentiment score of 0.15 on Accern’s scale. Accern also assigned media stories about the biotechnology company an impact score of 46.8406921113539 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Top Financial Stocks To Buy For 2023: Terex Corporation(TEX)
Terex Corporation operates as a lifting and material handling solutions company. Its Aerial Work Platforms segment designs, manufactures, services, and markets aerial work platform equipment, telehandlers, and light towers, as well as related components and replacement parts under Terex and Genie names. The companys Construction segment offers compact construction equipment, including loader backhoes, mini and midi excavators, wheeled excavators, site dumpers, compaction rollers, skid steer loaders, and wheel loaders; and specialty equipment, such as material handlers, concrete mixer trucks, and concrete pavers. Its Cranes segment designs, manufactures, services, refurbishes, and markets mobile telescopic, tower, lattice boom crawler, lattice boom truck, utility equipment, and truck-mounted cranes, as well as related components and replacement parts under Terex name. The companys Material Handling & Port Solutions segment offers industrial cranes, such as universal cranes, process cranes, rope and chain hoists, electric motors, light crane systems, and crane components; and port and rail equipment, including mobile harbor cranes, straddle and sprinter carriers, gantry cranes, reach stackers, empty and full container handlers, general cargo lift trucks, automated stacking cranes, automated guided vehicles, terminal automation software, and related components and replacement parts. Its Materials Processing segment provides materials processing equipment, such as crushers, washing systems, screens, apron feeders, chippers, and related components and replacement parts under the Terex and Powerscreen brands. The company also provides financing solutions to assist customers in the rental, leasing, and acquisition of its products. It serves the construction, infrastructure, quarrying, mining, manufacturing, transportation, energy, and utility industries worldwide. Terex Corporation was founded in 1925 and is based in Westport, Connecticut.