Late rally lifts stocks 📈

Good Afternoon! 

Hey, everyone. It's Adam from Elite Trade Club. 

Here’s what moved the market today.

Markets 📈

A late-session rally lifted U.S. stocks to modest gains on Tuesday after a flat start to the week. The Nasdaq led with a 0.3% advance.

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Market-Moving News 🔎 

🧳 Treasury More Power to Combat Crypto-Enabled Crime

The Treasury Department is pushing for enhanced legislative tools to tackle the emerging challenge of cryptocurrency in financing terrorism and evading sanctions.

Deputy Treasury Secretary Wally Adeyemo highlighted to the Senate’s Banking Committee the increasing use of digital currencies by entities like Hamas, North Korea, and the Russian military-industrial complex to bypass traditional financial barriers.

Sanction Evasion 🚫
Cryptocurrencies, including tether, have been identified as alternative mechanisms for illicit financing, offering speed and opacity that challenge tracking efforts. The Treasury's call for action underscores the urgency to adapt regulatory measures to the evolving landscape of financial transactions.

Proposed Measures 💼
Adeyemo advocated for treating crypto companies similarly to traditional banks, suggesting penalties for transactions involving sanctioned individuals and requiring stringent client identification and transaction monitoring. This approach aims to close loopholes that currently allow crypto entities to operate with less oversight.

Foreign Crypto 🌍
The Treasury also seeks explicit authority to target foreign companies dealing in assets like dollar-pegged stablecoins that leverage the U.S. financial system without directly engaging with U.S. jurisdiction or banking infrastructure.

Are these measures warranted, or government overreach? Reply and let us know what you think.

Laser Photonics [LASE] $2.59 (+81.1%)
landed an order from industrial defense giant L3Harris Technologies for its Lasertower marking & engraving system.

Acrivon Therapeutics [ACRV]
$9.62 (+62.7%)
rallied after announcing a new $130 million PIPE financing round priced at $8.50 per share on Monday.

Biophytis [BPTS] $1.62 (+30.6%)
said it will start a new clinical development program named OBA to evaluate BIO101 as a potential treatment for obesity.

Eco Wave Power [WAVE] $3.01 (28.3%)
gave back some of the gains from its Monday rally, which came after the company announced a major deal to conduct energy feasibility studies for the U.S. coastline.

Vincerx Pharma [VINC] $1.06 (77.8%)
presented new preliminary clinical data from Phase 1 trials of VIP236 and VIP943 for use against certain cancers.

Destiny Tech100 [DXYZ] $64.00 (35.8%)
fell after a pair of Form 4 filings showed CEO Sohail Prasad disposed of more than 2 million shares in a massive insider sell.

That's it for today! Please, write us back, and let us know what you think of the Closing Bell Roundup. We're always eager to hear feedback from our members!

Thanks for reading. I'll see you at the next open! 

Best Regards,
— Adam G.
Elite Trade Club

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