New York Mortgage Trust Stock (NASDAQ: NYMTM)

New York Mortgage Trust Stock (NASDAQ:NYMTM), Trade Ideas

New York Mortgage Trust Inc is a real estate investment trust for federal income tax purposes, in the business of acquiring, investing in, financing and managing mortgage-related and residential housing-related assets. The company's investment portfolio consists of Structured multi-family property investments such as multi-family CMBS an preferred equity in, and mezzanine loans to owners of multi-family properties. Distressed residential assets such as residential mortgage loans sourced from distressed markets and non-Agency RMBS. Second mortgages, Agency RMBS, and certain other mortgage-related and residential housing-related assets.

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Assurant, Inc. 6.50% Series D Mandatory Convertible Preferred Stock, $1.00 par value

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Stocks That Hit 52-Week Highs On Thursday

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New York Mortgage Trust, Inc. - 7.875% Series E Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock

New York Mortgage Trust Inc

Truist Securities analyst William Stein maintains Texas Instruments (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) with a Hold and raises the price target from $165 to $167.

Price Target

Analyst Ratings

Truist Securities Maintains Hold on Texas Instruments, Raises Price Target to $167

Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) reported upbeat earnings for its fiscal <a href="https://www.benzinga.com/news/earnings/24/04/38377703/spotify-surpasses-q1-earnings-and-revenue-estimates">first quarter 2024 on Tuesday</a>.
The company posted revenue growth of 20% year-on-year to $3.95 billion (3.64 billion euros), beating the consensus of $3.85 billion. EPS of $1.05 (97 cents) beat the consensus of 70 cents, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Premium Revenue grew 20% year over year to 3.25 billion euros, helped by subscriber additions and ARPU increases. Total MAUs (Monthly Active Users) rose 19% Y/Y to 615 million , which missed its guidance by 3 million.
Ad-supported MAUs grew 22% Y/Y to 388 million. Premium Subscribers grew 14% Y/Y to 239 million.
Spotify held 4.7 billion euros in cash and equivalents and generated €207 million in free cash flow.
Spotify said it expects second-quarter revenue of 3.8 billion euros (consensus $3.76 billion) and total MAUs of 631 million.
Spotify shares rose 11.4% to close at $303.31 on Tuesday.
These analysts made changes to their price targets on Spotify following earnings announcement.
<ul>
<li>Pivotal Research boosted the price target on Spotify from $390 to $400. Pivotal Research analyst Jeffrey Wlodarczak maintained a Buy rating.</li>
<li>Benchmark raised the price target on Spotify from $325 to $375. Benchmark analyst Matthew Harrigan maintained a Buy rating.</li>
<li>Rosenblatt increased the price target on Spotify from $315 to $396. Rosenblatt analyst Barton Crockett maintained a Buy rating.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/04/38396543/meta-likely-to-report-higher-q1-earnings-here-are-the-recent-forecast-changes-from-wall-streets-mos">Meta Likely To Report Higher Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street&#8217;s Most Accurate Analysts</a>

Earnings

SPOT

Spotify Analysts Boost Their Forecasts After Q1 Earnings

SYRA

Syra Health Announced That It Has Been Selected By The City Of Portland In Maine For Developing A Health Equity Accelerator Plan To Address Social Determinants Of Health In The Greater Portland Community

Under the terms of the SPA, Equinox Gold will pay $995 million to acquire Orion's 40% interest in Greenstone, payable as follows:
<ul>
<li>42.0 million common shares of Equinox Gold valued at $250 million;</li>
<li>$705 million in cash payable on closing; and</li>
<li>$40 million in cash payable by December 31, 2024. &nbsp;</li>
</ul>
Equinox Gold will fund the cash consideration with net proceeds from both a new $500 million three-year term loan and a bought deal equity financing of common shares of Equinox Gold for approximately $260 million.

Equinox Gold On April 23 Said It Will Acquire Orion Mine Finance Management's 40% Interest In Greenstone Gold Mine GP; Equinox Gold To Pay $995M

Wedbush analyst Matt Bryson reiterates Super Micro Computer (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) with a Neutral and maintains $530 price target.

Reiteration

SMCI

Wedbush Reiterates Neutral on Super Micro Computer, Maintains $530 Price Target

Mizuho analyst Vijay Rakesh maintains Texas Instruments (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) with a Neutral and raises the price target from $164 to $170.

Mizuho Maintains Neutral on Texas Instruments, Raises Price Target to $170

EV giant Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has introduced a new, Performance edition of <a href="https://www.benzinga.com/news/24/02/36921718/youtuber-marques-brownlee-reviews-refreshed-model-3-calls-it-teslas-most-important-car-i-am-impresse">the refreshed Model 3</a> in the U.S., priced at $52,990, higher than its Model Y counterpart. 
What Happened: The new Model 3 performance is now available on the website priced at $52,990, higher than its rear-wheel drive and long-range versions, as well as the Model Y Performance. However, unlike the other two versions of Model 3, the Performance variant is eligible for a $7,500 federal EV tax credit, taking the effective price for eligible buyers down to $45,490. 
The Performance version has a range of 296 miles and a top speed of 163 mph. On ordering the vehicle now, customers can take delivery within the next two months. 
The Refresh: Tesla unveiled the refreshed Model 3 in the U.S. in January. The company listed two variants of the car, namely the rear-wheel drive and long-range. The Performance variant, however, was no longer listed.
However, later in January, Tesla's head of Investor Relations&nbsp;Martin Viecha&nbsp;confirmed the release of a&nbsp;<a href="https://www.benzinga.com/news/24/01/36570546/you-can-finally-order-teslas-new-model-3-in-america-heres-its-starting-price" target="_blank" rel="noreferrer noopener">refreshed Model 3 Performance variant</a>.
&#8220;You should get the Performance one, once that comes out,&#8221; Viecha wrote to television presenter&nbsp;James May&nbsp;who had recently bought a new Model 3.
Tax Credit Confusions: While the Performance is the priciest version of the Model 3, the availability of tax credit on it brings down the effective price of the vehicle for eligible customers below the Long Range. 
But if the customer chooses to lease a Model 3 rear-wheel drive or Long Range instead of buying it, they can avail a $7,500 EV lease incentive distributed over a 24-month or 36-month lease term, making the cost of leasing a Long Range again cheaper than leasing a Performance. 
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td></td>
<td>Prices Without Tax Credit</td>
<td>Prices After Tax Credit</td>
<td>Monthly Lease Amount </td>
</tr>
<tr>
<td>Model 3 Rear-Wheel Drive</td>
<td>$38,990</td>
<td>$38,990</td>
<td>$299</td>
</tr>
<tr>
<td>Model 3 Long Range</td>
<td>$47,740</td>
<td>$47,740</td>
<td>$439</td>
</tr>
<tr>
<td>Model 3 Performance</td>
<td>$52,990</td>
<td>$45,490</td>
<td>$549</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Prices as provided on Tesla website</figcaption></figure>
Musk on Tuesday said in an X post that the criteria for EV incentives under the Inflation Reduction Act (IRA) have made it all very &#8220;confusing.&#8221; During the company&#8217;s first-quarter earnings call later in the day, Musk also mocked the name of the act, saying it sounds similar to the Irish Republican Army or the Internet Research Agency from Russia.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">To add to the confusion, the IRA credit &#x2A;does&#x2A; apply to a leased Model 3 long range, which is why the lease price is lower than a Model 3 Performance
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1782820855350980924?ref_src=twsrc%5Etfw">April 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a target="_blank" href="https://www.benzinga.com/topic/mobility" rel="noreferrer noopener">following this link</a>.
Read More:&nbsp;<a href="https://www.benzinga.com/news/24/04/38397845/tesla-will-solve-autonomy-even-if-i-got-kidnapped-by-aliens-tomorrow-says-elon-musk-as-he-reveals-ta">Tesla Will Solve Autonomy &#8216;Even If I Got Kidnapped By Aliens Tomorrow,&#8217; Says Elon Musk As He Reveals Talks With &#8216;Major Automaker&#8217; For FSD Licensing</a>
Photo via Shutterstock

Tech

TSLA

Tesla's New $53K Model 3 Performance Eligible For Full Tax Credits, But Leasing Long Range Might Be Cheaper

Mizuho analyst Ann Hynes maintains Quest Diagnostics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>) with a Buy and raises the price target from $150 to $155.

Mizuho Maintains Buy on Quest Diagnostics, Raises Price Target to $155

Rosenblatt analyst Blair Abernethy maintains Manhattan Associates (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MANH#NASDAQ">MANH</a>) with a Neutral and maintains $225 price target.

MANH

Rosenblatt Maintains Neutral on Manhattan Associates, Maintains $225 Price Target

Wedbush analyst Richard Anderson reiterates Alexandria Real Estate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARE#NYSE">ARE</a>) with a Outperform and maintains $140 price target.

Wedbush Reiterates Outperform on Alexandria Real Estate, Maintains $140 Price Target

<a href="https://www.sec.gov/Archives/edgar/data/1849635/000114036124021595/ny20026576x11_ex99-1.htm" title="https://www.sec.gov/Archives/edgar/data/1849635/000114036124021595/ny20026576x11_ex99-1.htm">https://www.sec.gov/Archives/edgar/data/1849635/000114036124021595/ny20026576x11_ex99-1.htm</a>

Legal

Trump Media & Technology Group Sent Letter To House Committees Regarding Potential Stock Manipulation

Wedbush analyst David Chiaverini reiterates Hanmi Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAFC#NASDAQ">HAFC</a>) with a Neutral and maintains $17 price target.

HAFC

Wedbush Reiterates Neutral on Hanmi Financial, Maintains $17 Price Target

The introduction of Intel&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) newest artificial intelligence chip, Gaudi 3, is projected to benefit three global semiconductor companies significantly.
What Happened: According to Morgan Stanley, TSMC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), Alchip (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ALCPF#OTC">ALCPF</a>) and Wistron (OTC:<a class="ticker" href="https://www.benzinga.com/stock/WICOF#OTC">WICOF</a>) stand to gain the most from the demand for Intel&#8217;s latest AI chip, CNBC <a href="http://cnbc.com/2024/04/24/morgan-stanley-says-these-3-global-stocks-will-benefit-from-intels-new-ai-chip.html">reported</a> on Tuesday. The financial institution anticipates that Intel&#8217;s supply issues will be resolved in the second half of 2024, leading to a surge in confirmed sales.
TSMC will be responsible for the fabrication of Gaudi 3 chips using its latest-generation 5-nanometer process. Alchip is expected to provide design services for both Gaudi 2 and Gaudi 3, while Wistron is predicted to be the primary baseboard supplier.
Charlie Chan and his team at Morgan Stanley forecast that the total Gaudi shipment volume could hit 300-400k units in 2025, generating $2-3bn revenue for Intel. The investment bank also reiterated its overweight rating on Alchip and TSMC, considering them long-term winners in AI semiconductor demand.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38372445/cathie-woods-ark-invest-says-bitcoin-could-be-priming-for-over-3-000-rally-over-nex?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Cathie Wood&#8217;s Ark Invest Says Bitcoin Could Be Priming For Over 3,000% Rally Over Next 12 Months As King Crypto Becomes Less Inflationary Than Gold After Halving</a>
Why It Matters: The <a href="https://www.benzinga.com/24/04/38362650/tsmc-topped-estimates-on-the-back-of-insatiable-ai-demand">insatiable demand for AI</a> has already propelled TSMC&#8217;s net revenue growth by 16.5% YoY in Q1 2024. The company&#8217;s broad customer base, including AI chip leader NVIDIA and tech giant Apple, is expected to drive further growth.
Earlier this year, <a href="https://www.benzinga.com/markets/asia/24/02/37254196/taiwanese-chip-firms-flock-to-japan-as-china-decoupling-accelerates">Alchip relocated its research and development</a> roles from China to Japan, indicating a strategic shift in the global semiconductor industry. The company&#8217;s anticipated involvement in the design of Intel&#8217;s Gaudi chips aligns with this expansion strategy.
Intel&#8217;s stock has been consolidating since October 2023, with <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38355764/intels-inventory-issues-redditors-highlight-how-overstock-killed-their-margins-yet-">Reddit users speculating about its undervaluation</a>. The launch of the Gaudi 3 chip could potentially boost Intel&#8217;s stock value, especially if supply constraints are resolved as predicted.
Price Action: As of Tuesday, Intel&#8217;s stock closed 0.41% at $34.27, according to <a href="https://pro.benzinga.com">Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38356886/s-p-500-trades-at-two-month-low-where-is-the-next-support?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">S&amp;P 500 Trades At Two-Month Low: Where Is The Next Support?</a>
Photo via Shutterstock
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 The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. 
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INTC

WICOF

Move Over Nvidia: Experts Bullish On Intel's AI Chip, Predict Surge In These Three Global Stocks

MSCI Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSCI#NYSE">MSCI</a>) reported upbeat earnings for its fiscal <a href="https://www.benzinga.com/news/earnings/24/04/38383493/whats-going-on-with-msci-stock-on-monday">first quarter on Tuesday</a>.
The company posted revenue growth of 14.8% year-on-year to $679.97 million, missing the consensus of $684.14 million. The adjusted EPS of $3.52 beat the consensus of $3.45, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a>
Index operating revenues of the investment research firm rose 10.2% Y/Y to $373.9 million, aided by higher recurring subscription revenues and asset-based fees. Analytics operating revenues increased 11.5% Y/Y to $164.0 million, driven by higher recurring subscription revenues from Equity and Multi-Asset Class Analytics products.
ESG and Climate operating revenues grew 16.1% year over year to $77.9 million, driven by solid growth in Ratings, Screening, and Climate products.
Henry A. Fernandez, Chairman and CEO of MSCI said, "Elevated cancels reflected a concentration of unusual client events, including a large merger among our banking clients. We are managing through these pressures and do not expect this level of cancels to continue."
For FY24, MSCI reiterated operating expense guidance of $1.30 billion – $1.34 billion, capex of $95 million – $105 million, and free cash flow of $1.225 billion – $1.285 billion.
MSCI shares fell 13.4% to close at $446.00 on Tuesday.
These analysts made changes to their price targets on MSCI following earnings announcement.
<ul>
<li>Deutsche Bank cut the price target on MSCI from $613 to $569. Deutsche Bank analyst Faiza Alwy upgraded the stock from Hold to Buy.</li>
<li>Morgan Stanley lowered the price target on MSCI from $671 to $615. Morgan Stanley analyst Toni Kaplan maintained an Overweight rating.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/04/38396543/meta-likely-to-report-higher-q1-earnings-here-are-the-recent-forecast-changes-from-wall-streets-mos">Meta Likely To Report Higher Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street&#8217;s Most Accurate Analysts</a>

MSCI

These Analysts Cut Their Forecasts On MSCI Following Q1 Results

WIIM

HOOK

HOOKIPA Pharma shares are trading higher after the company received FDA clearance for its IND application for HB-700.

Rosenblatt analyst Barton Crockett maintains Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) with a Buy and raises the price target from $315 to $396.

Rosenblatt Maintains Buy on Spotify Technology, Raises Price Target to $396

The demand for Bitcoin <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38373531/spot-bitcoin-etfs-register-35m-net-inflow-on-first-post-halving-trading-day">spot exchange-traded funds</a> (ETFs) continues to rebound, with significant inflows recorded on Tuesday. 
What Happened: This trend coincides with news that Hong Kong is poised to launch its own Bitcoin ETFs, potentially becoming a major player in the digital asset space.
According to <a href="https://sosovalue.xyz/assets/etf">data</a> from SoSoValue, the net inflow into Bitcoin spot ETFs totaled $31.6354 million. 
Notably, BlackRock&#8216;s iShares Bitcoin Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) led with a net inflow of $37.9233 million, boosting its total historical net inflow to an impressive $15.479 billion. Ark&#8217;s ETF ARKB (BATS: <a href="https://www.benzinga.com/quote/ARKB">ARKB</a>) and Bitwise&#8217;s Bitcoin ETF  (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BITB#BATS">BITB</a>) netted inflows of $33.28 million and $23.23 million, respectively.
In contrast, Grayscale&#8216;s GBTC (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#OTC">GBTC</a>) experienced a notable outflow, with a net decrease of $66.8838 million in a single day.
Hong Kong&#8217;s Emerging Role in the Global Crypto ETF Market
As the crypto market continues to evolve, Hong Kong is positioning itself as a significant player. 
Following the U.S.&#8217;s lead, the city is preparing to launch several cryptocurrency ETFs, including those for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-04-23/hong-kong-bitcoin-btc-ether-eth-etf-launches-to-test-crypto-hub-ambition?embedded-checkout=true">reported</a>. 
These developments are part of Hong Kong's broader strategy to establish itself as a regulated hub for the digital asset industry, competing with other financial centers like Singapore and Dubai. 
The upcoming ETFs, expected to begin trading by the end of April, are anticipated to attract substantial investment, potentially reaching $1 billion in assets under management within two years.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38385726/brics-eye-stablecoins-cbdc-bridge-to-advance-financial-integration">BRICS Eye Stablecoins, CBDC Bridge To Advance Financial Integration</a>
Hong Kong&#8217;s initiative aligns with global trends where major asset managers are actively engaging with digital currencies, reflecting a maturing market that now integrates more seamlessly with established financial systems. 
The success of these new ETFs in Hong Kong could signal a pivotal shift in the global acceptance and integration of cryptocurrencies into mainstream finance.
Benzinga&#8217;s Future Of Digital Assets Event And The Global Crypto Market
The shifting dynamics of the cryptocurrency market and the introduction of new ETFs underscore the themes that will be explored at Benzinga&#8217;s <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19. 
This event will provide a platform for discussing the integration of traditional financial mechanisms, like ETFs, with the burgeoning field of digital assets, emphasizing the innovations <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38382733/crypto-lobby-group-sues-sec-over-new-dealer-rule">driving forward the crypto sector.</a>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38378731/venezuela-turns-to-crypto-as-us-sanctions-return-on-oil-exports">Venezuela Turns To Crypto As US Sanctions Return On Oil Exports </a>
Image created using artificial intelligence with Midjourney.

$BTC

$ETH

ARK 21Shares Bitcoin ETF ARK 21Shares Bitcoin ETF

ARKB

Bitwise Bitcoin ETF Common Shares of Beneficial Interest

BITB

GBTC

IBIT

Bitcoin Spot ETFs Net $31.6M Inflows As Hong Kong Readies For ETF Launches

SES AI shares are trading higher. The company announced that it signed an agreement to enter the next phase of its existing joint development agreement with Hyundai Motor And Kia to start developing B samples.

IMMP

Immutep shares are trading higher after the company announced data evaluating efti with KEYTRUDA in recurrent/metastatic head  and neck squamous cell carcinoma patients.

Changpeng Zhao, the founder and former CEO of Binance (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>), is facing a <a href="https://www.benzinga.com/markets/cryptocurrency/23/11/35921171/exclusive-changpeng-zhaos-exit-binances-4b-fine-a-wake-up-call-for-crypto-or-a-death-knell">potential prison sentence of three years</a> after the U.S. Department of Justice (DOJ) argued for his incarceration in a recent sentencing memo.
DOJ Seeks Imprisonment, Citing National Security Concerns
The DOJ is pushing for a harsher sentence than the 18 months stipulated in Zhao&#8217;s plea agreement, citing the &#8220;massive scope and ramifications&#8221; of his misconduct, Coindesk <a href="https://www.coindesk.com/policy/2024/04/24/binance-founder-changpeng-zhao-should-spend-3-years-in-prison-doj-says/?utm_medium=referral&amp;utm_source=rss&amp;utm_campaign=headlines">reported</a>.
They argue that Binance, under Zhao&#8217;s leadership, facilitated transactions involving illicit activities like ransomware attacks and darknet markets. 
This, the DOJ claims, posed a threat to U.S. national security.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38384156/mt-gox-creditors-see-repayment-light-at-the-end-of-the-tunnel">Mt. Gox Creditors See Repayment Light At The End Of The Tunnel</a>
Defense Argues for Probation, Downplays Knowledge of Violations
Zhao&#8217;s defense team countered these accusations, stating that he lacked knowledge of specific illegal transactions and that Binance wasn&#8217;t explicitly prohibited from having users from sanctioned countries on its platform. 
They further claim that the sanctions violations were &#8220;microscopically tiny&#8221; compared to Binance&#8217;s overall trading volume.
Zhao apologized for his &#8220;poor decisions,&#8221; taking responsibility for his actions as he faces sentencing on April 30th. In a letter to the judge overseeing his case, he admitted to failing to establish necessary compliance controls at Binance and expressed his desire to support biotech startups and youth in the future, Coindesk <a href="https://www.coindesk.com/policy/2024/04/24/binance-founder-changpeng-zhao-apologizes-ahead-of-sentencing-161-others-send-letters-of-support/?utm_medium=referral&amp;utm_source=rss&amp;utm_campaign=headlines">reported</a>.
This ongoing case highlights the evolving regulatory landscape surrounding cryptocurrencies, particularly regarding money laundering and national security concerns.
Stay Informed At Benzinga&#8217;s Future Of Digital Assets Event
The rapid development of the digital asset space necessitates staying informed about regulatory changes and potential risks. 
The Benzinga <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event, happening on Nov. 19 offers a valuable opportunity to gain <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38339548/exclusive-industry-leaders-predict-how-the-bitcoin-halving-impacts-prices-and-mining">insights from industry experts.</a>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38382733/crypto-lobby-group-sues-sec-over-new-dealer-rule">Crypto Lobby Group Sues SEC Over New Dealer Rule</a>
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$BNB

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