Happy Tuesday Opening Bell crew. I'm Phil Rosen — it's been a moment since we've checked in on the cryptocurrency sector.
Rest assured it's still humming along, with bitcoin seeing nearly a 70% gain in the first three months of the year.
Even meme token $4 after the Shiba Inu mascot replaced Twitter's bird logo.
I caught up with Shark Tank investor Kevin O'Leary, an active crypto investor and market veteran, to get his take on the $4.
If this was forwarded to you, sign up here>$4. Download Insider's app here.>$4
1. The TV personality known as Mr. Wonderful told me Monday afternoon that his stance on cryptocurrencies hasn't changed all that much since FTX collapsed, but he has shifted his stance on $4.
Since November, he's moved his holdings to Canada, where he uses WonderFi, a name he's backed as an investor.
He told me he first got a sense of the coming regulatory crackdown speaking to policymakers following hearings in December, when FTX's implosion was still top of mind.
"Talking to the senators after the hearings, I realized the frustration they had," O'Leary said. "They were really pissed off, and they have $4. They told regulators 'go get them,' and all of a sudden we have a mountain of enforcement action."
Just in the last few weeks $4 at Coinbase and Binance, as well as a string of celebrities and influencers with ties to crypto.
The SEC said it's "neutral" about the technology at hand, yet "$4 when it comes to investor protection."
That's led O'Leary to forecast that many of the crypto founders that helped jumpstart the sector are going to be $4 in the near future.
Part of that is because those business leaders have never had to operate under the burden of compliance costs and rules.
"They don't know how to make money in a regulated environment," O'Leary said.
"I think they'll all be sued into oblivion by their own regulators. These rockstar crypto guys, they're not going to make it. I bet if you looked at who's managing these companies 36 months from now, $4."
What do you think happens next in the crypto industry in light of the deepening regulatory crackdown? Tweet me (@philrosenn>$4) or email me (prosen@insider.com) to let me know.
In other news:
2. US stock futures rise early Tuesday, as investors continue to weigh the impact of the OPEC+ group's surprise output cut on global inflation. Plus, keep an eye out for the latest number from the monthly Job Openings and Labor Turnover Survey, due out later this morning. $4.
3. On the docket: Credit Suisse, Nokia, and Scotiabank, all $4.
4. This batch of stocks have a market-beating combination of upside and outsized dividend growth, according to UBS. These 30 names can beat a volatile market as they surge through 2023 and keep raising their dividend payments, analysts said — $4.
5. Morgan Stanley's top stock strategist said the blistering rally in tech stocks won't last. Even as the tech-heavy Nasdaq 100 is coming off its second-best quarter in a decade, the downside risk isn't quite gone yet, Mike Wilson explained: $4
6. Wall Street pros are more bearish on stocks than at any point since 2008. That said, that might be good news for investors, as Bank of America's sell side indicator suggests $4.
7. Tesla could extend its massive rally this year, according to Wedbush's Dan Ives. Price cuts to the company's Model Y and Model 3 vehicles "have paid major dividends for Musk and co.," he wrote in a research note. Musk's price war, in Ives' view, $4.
8. These 20-year-old college dropouts built a 28-unit real estate portfolio with less than $1,000 in savings combined. Caleb Hommel and Chuck Sotelo followed a mentor's advice in finding a great deal first. Then they raised the money to buy it. $4.
9. Morningstar analysts listed out cheap stocks that will maintain higher-than-average dividends even in an economic slowdown. Investors can expect stable payouts regardless of what the broader economy is doing, the firm said. $4.
10. Oil prices rallied following OPEC's unexpected supply cut. On Sunday, the oil cartel announced it would cut production by more than 1 million barrels per day, with Saudi Arabia leading the way with a 500,000 barrel-a-day reduction. $4
Curated by Phil Rosen in New York. Feedback or tips? Tweet @philrosenn>$4 or email prosen@insider.com.
Edited by Max Adams (@maxradams>$4) in New York and Hallam Bullock (@hallam_bullock>$4) in London.