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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Zoom Video Communications Inc’s (NASDAQ:ZM) deal to buy customer-service software company Five9 Inc (NASDAQ:FIVN) is being investigated by a U.S. Department of Justice-led panel over the former's ties with China, The Wall Street Journal reported on Tuesday, citing a Federal Communications Commission letter.
What Happened: The interagency panel, known as Team Telecom, is reviewing the deal to see if it poses a risk to U.S. national security or law enforcement interests given Zoom’s China ties.
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The justice department has requested the FCC to postpone action on the deal until Team Telecom finishes its review, putting Zoom’s deal for Five9 on hold, the report noted.
See Also: Zoom Aims To Boost Phone Presence Beyond Video As It Strikes $14.7B Deal To Acquire Five9
Why It Matters: Zoom has separately been under federal investigation in New York and California for its interactions with the Chinese government as well as its policies related to storing and protecting data. The videoconferencing company is also known to be facing multiple federal investigations related to its ties with China, WSJ noted.
Price Action: Zoom shares closed 0.87% lower at $278.24 on Tuesday and were further down 0.59% in the after-hours. Five9 closed 0.83% lower at $170.17 and were further down 0.62% in after-hours trading.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.