<a href="https://www.benzinga.com/topic/snoop-dogg">Snoop Dogg</a> rattled the core of his fan base <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43074504/crypto-firms-donate-millions-to-trump-inaugural-fund-host-unofficial-ball-featuring-snoop-dogg">after performing at the first-ever inaugural Crypto Ball</a> Friday, part of the weekend celebrations leading up to President-elect Donald Trump's Monday inauguration.



The Washington, D.C. event, hosted by <a href="https://www.benzinga.com/topic/david-sacks">David Sacks</a>, former COO of PayPal (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) who <a href="https://www.benzinga.com/24/12/42356067/venture-capitalist-david-sacks-appointed-as-white-house-ai-crypto-czar-by-trump" target="_blank" rel="noreferrer noopener">Trump appointed</a> to serve as the White House AI &amp; crypto czar, was attended by about 1,500 people, including executives from crypto companies such as <a href="https://www.benzinga.com/topic/crypto-com">Crypto.com</a>, <a href="https://www.benzinga.com/topic/kraken">Kraken</a> and <a href="https://www.benzinga.com/24/12/42569133/crypto-wallet-provider-exodus-makes-wall-street-debut-shares-pop-37">Exodus</a> (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EXOD#AMEX">EXOD</a>), <a href="https://www.reuters.com/world/us/with-cocktails-snoop-dogg-crypto-industry-celebrates-trump-inauguration-2025-01-18/">reported</a> Reuters. 



Trump, who did not attend the gala, is expected to <a href="https://www.benzinga.com/25/01/43073027/trump-plans-crypto-friendly-executive-orders-in-early-days-of-presidency-report">issue executive orders</a> next week aimed at fostering a more favorable environment for cryptocurrency companies. 



<h2 class="wp-block-heading">&#8216;Make Bitcoin Great Again&#8217;</h2>



Swag included &#8220;Make Bitcoin Great Again&#8221; baseball caps and flag pins with the symbol for <a href="https://www.benzinga.com/topic/gemini">Gemini</a>, an event sponsor and crypto exchange founded by Cameron and Tyler Winklevoss. Reuters reported that other sponsors included the digital asset division of Robinhood (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>)<a href="https://www.reuters.com/markets/companies/HOOD.O" target="_blank" rel="noreferrer noopener">,</a> MicroStrategy and Crypto.com. 



Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43074504/crypto-firms-donate-millions-to-trump-inaugural-fund-host-unofficial-ball-featuring-snoop-dogg">Crypto Firms Donate Millions to Trump Inaugural Fund, Host Unofficial Ball Featuring Snoop Dogg</a>



Snoop, a voracious <a href="https://www.benzinga.com/markets/cannabis/24/07/39733952/snoop-dogg-to-open-weed-stores-in-la-amsterdam-named-after-iconic-smoke-weed-every-day-motto">cannabis consumer</a>, was filmed as the DJ playing songs like Bob Marley's &#8220;Three Little Birds (Don't Worry About a Thing), <a href="https://www.foxnews.com/entertainment/snoop-dogg-wows-trump-inauguration-crypto-ball-bob-marley-song">reported</a> Fox News. He also performed a few of his own tunes, including, &#8220;Drop It Like It's Hot.&#8221;



<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">BREAKING: Snoop Dogg has gone full-blown <a href="https://twitter.com/hashtag/MAGA?src=hash&amp;ref_src=twsrc%5Etfw">#MAGA</a> performing at Trump's Crypto Ball <a href="https://twitter.com/hashtag/Trump?src=hash&amp;ref_src=twsrc%5Etfw">#Trump</a> <a href="https://twitter.com/hashtag/Inauguration?src=hash&amp;ref_src=twsrc%5Etfw">#Inauguration</a> <a href="https://t.co/g6TH2H0cmD">pic.twitter.com/g6TH2H0cmD</a>&mdash; Fiona Moriarty (@factswithfiona) <a href="https://twitter.com/factswithfiona/status/1880480621874803051?ref_src=twsrc%5Etfw">January 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Trump Vs. Snoop, Now ‘Love And Respect'</h2>



In a March 2017 video <a href="https://hightimes.com/culture/music/trump-freaks-out-over-snoop-doggs-new-video-and-its-priceless/">made by Snoop Dogg,</a> a character named "Ronald Klump" presented as a clown is shot by Snoop Dogg with a Looney Tunes&#8211;style gun. The mock shooting drove then President Trump straight to his Twitter account where he tweet-stormed Snoop pretty much day and night for at least a week.



Jumping to January 2024, after Trump launched his presidential campaign, the rapper sang his praises. "Donald Trump? He ain&#8217;t done nothing wrong to me,&#8221; he told <a href="https://www.thetimes.co.uk/article/snoop-dogg-i-have-nothing-but-love-and-respect-for-donald-trump-k60k99phr" target="_blank" rel="noreferrer noopener">The Sunday Times</a>. "He pardoned Michael Harris." Harris, the co-founder of Snoop's first label, Death Row, was serving time for drug offenses. "So, I have nothing but love and respect for Donald Trump."



Meanwhile, Snoop's fans seem not to be feeling a lot of love and respect for him right now.



In footage shared by <a href="https://www.instagram.com/p/DE9IUynM67H/?img_index=1">The Shade Room</a> on Instagram, comments ranged from unkind to shocked to furious.



"This is culturally embarrassing and disrespectful asf [as f&#x2A;&#x2A;&#x2A;]," one person wrote.



"Nipsey and Pac would never!!!" said another, referring to the late, beloved rappers <a href="https://www.benzinga.com/markets/cannabis/23/09/35011178/tupac-shakur-murder-suspect-indicted-nearly-three-decades-after-hip-hop-icons-shooting-death">Tupac Shakur</a> and <a href="https://www.benzinga.com/markets/cannabis/23/02/31021050/nipsey-hussles-murderer-sentenced-to-60-years-in-prison-after-months-long-trial">Nipsey Hussle</a>.



"Not a check in the world worth selling my soul to the Devil," another person wrote.



For the pleasure of rubbing shoulders with tech and crypto billionaires at the event that will no doubt solidify Trump as the <a href="https://www.the-independent.com/tech/trump-bitcoin-crypto-president-jd-vance-b2582235.html">self-proclaimed</a> &#8220;first crypto president,&#8221; guests shelled out between $2,500 and $5,000 for tickets. But, there was a $100,000 VIP package that included face time crypto czar Sacks. 



Read Now:



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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43074649/bitcoin-ethereum-and-dogecoin-spike-on-optimism-over-new-trump-presidency">Bitcoin, Ethereum and Dogecoin Spike on Optimism Over New Trump Presidency</a></li>
</ul>



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EXOD

HOOD

PYPL

Trump's Crypto Ball: Snoop Dogg's Participation Leaves Fans Furious, Top Crypto Execs Delighted

TikTok came back online in the U.S. shortly after 12:00 p.m. ET, two hours after President-elect Donald Trump said on social media that he will sign an executive order Monday postponing enforcement of the new law requiring the sale of the Chinese-owned platform.



What Happened: As <a href="https://www.axios.com/2025/01/19/trump-tiktok-ban-delay-executive-order">reported</a> by Axios, Trump, who was once at the forefront of the campaign to ban TikTok, is now championing its survival. Trump wrote on Truth Social, &#8220;I will issue an executive order on Monday to extend the period of time before the law&#8217;s prohibitions take effect, so that we can make a deal to protect our national security.&#8221;



US users of the popular video app began finding that access had been restored shortly after noon on the East Coast.



Trump&#8217;s post indicated that the order would absolve any company that assisted in keeping TikTok operational prior to his order from any liability. He voiced his aspiration for the US to secure a &#8220;50% ownership position&#8221; in a joint venture to rescue TikTok. &#8220;By doing this, we save TikTok, keep it in good hands and allow it to [stay] up.&#8221;



However, the specifics of Trump&#8217;s plan, including whether he intends for the US government or a US company to hold this 50% stake, and how he aims to circumvent the law, remain ambiguous, as an executive order cannot supersede it.



The law, signed by President Joe Biden in April, mandated TikTok&#8217;s parent company, ByteDance, to sell the app to an approved buyer by January 19 to evade a ban. The law does allow for the president to initiate a 90-day extension, but only if substantial progress towards divestiture is made and binding legal agreements are in place to facilitate a deal.



Why It Matters: Trump&#8217;s unexpected move to delay the TikTok ban and his proposition for a US stake in the app marks a significant shift in his stance.

Tech

TikTok Back Online In US After Trump Vows Monday Executive Order

The past week has been a whirlwind for&nbsp;Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), with stories ranging from personal anecdotes by CEO Tim Cook to potential shifts in the company&#8217;s credit card partnerships. Here&#8217;s a quick recap of the top five stories that made headlines.



Apple Watch to the Rescue



In a podcast interview, Apple CEO Cook revealed how the Apple Watch saved his father&#8217;s life. The device&#8217;s fall detection feature alerted emergency services when Cook&#8217;s father fell at home, leading to a timely intervention. Despite the positive outcome, Cook&#8217;s father was reportedly more upset about the door that had to be broken down by the emergency services.



<a href="https://www.benzinga.com/tech/25/01/43072685/tim-cook-reveals-apple-watch-saved-his-fathers-life-by-alerting-emergency-services-but-his-father-more-upset-because-of-this">Read the full article here.</a>



Apple&#8217;s Credit Card Partner Shuffle



Apple is reportedly in talks with&nbsp;Barclays Plc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCS#NYSE">BCS</a>)&nbsp;and Synchrony Financial to replace Goldman Sachs as its credit card partner. The discussions have been ongoing for several months, but a final deal may still take time.



<a href="https://www.benzinga.com/media/25/01/43019382/apple-eyes-barclays-and-synchrony-to-replace-goldman-sachs-as-credit-card-partner-report">Read the full article here.</a>



Apple&#8217;s Declining Market Share in China



Apple&#8217;s market share in China is reportedly on the decline, according to supply chain analyst Ming-Chi Kuo. The decrease in iPhone shipments and the cautious approach to 2025 iPhone production plans are cited as reasons for this decline.



<a href="https://www.benzinga.com/tech/25/01/42931758/apple-staring-at-market-share-decline-in-china-amid-declining-iphone-shipments-top-analyst-flags-why-some-models-could-be-face-shipping-momentum-challenges">Read the full article here.</a>



Zuckerberg&#8217;s Criticism of Apple&#8217;s Innovation



Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)&nbsp;CEO Mark Zuckerberg criticized Apple for its lack of innovation and restrictive policies. He suggested that Apple&#8217;s potential downfall could be imminent if it doesn&#8217;t adapt to the rapidly changing industry.



<a href="https://www.benzinga.com/25/01/42931722/steve-jobs-invented-the-iphone-and-now-theyre-justsitting-on-it-mark-zuckerberg-hints-at-apples-potential-downfall-amid-iphone-makers-random-rules">Read the full article here.</a>



Apple&#8217;s Stock Upside



A new analysis by Bank of America suggests that Apple&#8217;s manufacturing costs for its latest iPhone lineup could bolster the company&#8217;s margins. The study reveals significant cost reductions in Pro models and highlights the company&#8217;s strategic pricing approach across its product range.



<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43021026/apple-stock-has-moved-up-4-2-since-iphone-16-launched-analyst-says-it-has-another-8-upside-as-manufacturing-cost-decline-bolsters-cupertinos-margins">Read the full article here.</a>



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<li><a href="https://www.benzinga.com/25/01/43073132/cathie-wood-is-betting-big-on-this-ai-darling-and-no-its-not-nvidia">Cathie Wood&#8217;s Ark Invest Is Betting Big On This AI Darling And No It&#8217;s Not Nvidia</a></li>
</ul>



Photo courtesy: Unsplash



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

AAPL

Apple Watch Saves Another Life, Credit Card Partnerships, And iPhone Market Share Woes: This Week In Appleverse

The past week has been a rollercoaster ride for the tech industry. From potential sanctions shaking up the semiconductor sector to controversies surrounding artificial intelligence (AI) companies, the news has been abuzz with developments that could have far-reaching implications. Here&#8217;s a roundup of the top stories that made headlines.



Nvidia&#8217;s $10B Setback and ETFs to Watch



The U.S. semiconductor industry is on tenterhooks as the possibility of further sanctions on AI chip exports to China looms large.&nbsp;Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)&nbsp;recently experienced a significant setback when its major tech clients deferred orders worth billions of dollars. The geopolitical turbulence has investors keeping a close eye on the impact on exchange-traded funds (ETFs) linked to the sector.



<a href="https://www.benzinga.com/news/global/25/01/43040533/nvidia-10-billion-setback-3-etfs-to-watch-sanctions">Read the full article here.</a>



OpenAI Whistleblower Controversy



The death of former OpenAI engineer Suchir Balaji has sparked a controversy. His mother, Poornima Ramarao, claims that he had sensitive documents about the AI company&#8217;s practices. She alleged in an interview that her son&#8217;s knowledge of OpenAI&#8217;s operations led to his death.



<a href="https://www.benzinga.com/tech/25/01/43023088/openai-whistleblower-suchir-balajis-mother-says-her-son-had-documents-against-sam-altmans-ai-startup-elon-musk-calls-it-extremely-concerning">Read the full article here.</a>



Microsoft Launches 365 Copilot Chat



Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)&nbsp;unveiled its AI-powered chat service, 365 Copilot Chat, with a new pay-as-you-go plan. The service, previously known as Bing Chat Enterprise, is designed for businesses and focuses on workflow automation.



<a href="https://www.benzinga.com/25/01/43022267/microsoft-launches-new-ai-agents-in-365-copilot-chat-to-drive-widespread-adoption-of-task-automation-tools">Read the full article here.</a>



Broadening Rally in Semiconductors Predicted



Semiconductor analyst Vivek Arya anticipates a surprising broadening rally in semiconductors in 2025. He predicts a growing divide between AI haves and cyclical have-nots. However, Arya also points out several unresolved issues for the sector, including global tariffs, rising inflation, and China restrictions.



<a href="https://www.benzinga.com/25/01/42961753/analyst-sees-broadening-rally-in-semis-coming-in-2025-2-top-stock-picks-and-2-to-avoid">Read the full article here.</a>



Zuckerberg and Huang on Quantum Computing



Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)&nbsp;CEO Mark Zuckerberg agrees with&nbsp;Nvidia CEO Jensen Huang&#8217;s cautious outlook on quantum computing. Zuckerberg believes that the technology is still years away from practical implementation, echoing the industry consensus of a decade-long timeline for widespread quantum computing adoption.



<a href="https://www.benzinga.com/markets/equities/25/01/42936751/mark-zuckerberg-backs-nvidia-ceo-jensen-huangs-view-on-quantum-computing-its-still-quite-a-ways-off">Read the full article here.</a>



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<li><a href="https://www.benzinga.com/25/01/43073132/cathie-wood-is-betting-big-on-this-ai-darling-and-no-its-not-nvidia">Cathie Wood&#8217;s Ark Invest Is Betting Big On This AI Darling And No It&#8217;s Not Nvidia</a></li>
</ul>



Photo courtesy: Shutterstock



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

MSFT

NVDA

Nvidia's $10 Billion Setback, OpenAI Controversy, And Microsoft's AI Chat Launch: This Week In Artificial Intelligence

The week was filled with significant developments, from the anticipation of President-elect&nbsp;Donald Trump&#8216;s executive orders to the bullish surge of Bitcoin. Here&#8217;s a quick recap of the top stories that made headlines.



Trump&#8217;s Day 1 Executive Orders



Betting markets are predicting a flurry of executive orders from President-elect Trump on his first day in office. Traders on the CFTC-regulated platform Kalshi anticipate Trump signing at least 15 executive orders, with the most aggressive bets on 50 or more. The first days of the Trump administration are expected to be highly consequential, with potential changes in tariffs, immigration, and Bitcoin policies.



<a href="https://www.benzinga.com/government/regulations/25/01/43068639/betting-markets-brace-for-wave-of-executive-orders-on-trump-day-1-immigration-tariffs-top-issues-on-the-table">Read the full article here.</a>



Bitcoin&#8217;s Bullish Surge



Crypto trader Michaël van de Poppe predicts a significant bullish surge for Bitcoin as it crosses the $100,000 mark ahead of Trump&#8217;s inauguration. He also suggests that altcoins, particularly those in the Ethereum ecosystem, will likely outperform Bitcoin.



<a href="https://www.benzinga.com/25/01/43073087/bitcoin-set-for-major-bullish-surge-says-popular-crypto-analyst-as-btc-crosses-100000-ahead-of-trump-inauguration">Read the full article here.</a>



Trump&#8217;s Crypto-Friendly Approach



Reports suggest that Trump is preparing to issue executive orders to create a more favorable environment for cryptocurrency firms. These actions are expected to occur shortly after he assumes office, marking a significant shift in the regulatory landscape for digital assets.



<a href="https://www.benzinga.com/25/01/43073027/trump-plans-crypto-friendly-executive-orders-in-early-days-of-presidency-report">Read the full article here.</a>



DCG Settles with SEC



Digital Currency Group (DCG) agreed to settle with the U.S. Securities and Exchange Commission (SEC) for misleading investors. DCG and its former executive, Soichiro "Michael" Moro, will collectively pay $38.5 million to the SEC to resolve charges related to providing false information about the financial state of Genesis Global Capital.



<a href="https://www.benzinga.com/25/01/43072974/crypto-firm-dcg-settle-with-sec-for-385m-over-misleading-investors">Read the full article here.</a>



Altcoins&#8217; Bullish Signal



As Bitcoin surpasses the $100,000 mark, a crypto analytics firm has observed a bullish signal for altcoins. The firm noted a significant increase in whale transactions for several altcoin projects, suggesting that investors might soon use these stablecoins to acquire altcoins.



<a href="https://www.benzinga.com/25/01/43073101/altcoins-flash-bullish-signal-amid-bitcoins-surge-says-research-firm">Read the full article here.</a>



Read Next:



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<li><a href="https://www.benzinga.com/25/01/43073132/cathie-wood-is-betting-big-on-this-ai-darling-and-no-its-not-nvidia">Cathie Wood&#8217;s Ark Invest Is Betting Big On This AI Darling And No It&#8217;s Not Nvidia</a></li>
</ul>



Photo courtesy: Shutterstock



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

Trump's Expected Executive Orders, Bitcoin's Bullish Surge, And More: This Week In Crypto

The week has been a rollercoaster ride in the world of economics and finance. From the U.S. dollar&#8217;s status as the world&#8217;s reserve currency to the surge in oil prices, there&#8217;s a lot to catch up on. Let&#8217;s dive into the top stories that made headlines.



Scott Bessent: Dollar Must Remain &#8216;World&#8217;s Reserve Currency&#8217;



President-elect Donald Trump&#8217;s Treasury pick,&nbsp;Scott Bessent, has pledged to uphold the U.S. dollar&#8217;s status as the world&#8217;s reserve currency. During his prepared testimony, Bessent emphasized the importance of productive investment over wasteful spending and the need to secure supply chains. He also highlighted the careful use of sanctions to meet national security needs.



<a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43021014/trumps-treasury-pick-scott-bessent-urges-dollar-must-remain-worlds-reserve-currency-as-president-elect-reportedly-pushes-for-strategic-bitcoin-reserve">Read the full article here.</a>



5% Yields Fuel Demand For Long-Dated Treasury ETFs



Despite persistent bond market losses and rising macro uncertainties, the allure of 5% yields is driving investor inflows into long-dated Treasury ETFs. Last week, iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) saw a staggering $1.5 billion in inflows.



<a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42990155/5-yields-fuel-demand-treasury-etfs-despite-bond-market-pain-relief-rally">Read the full article here.</a>



Oil Prices Break $80, Reach 6-Month Highs



Oil prices surged this week, with West Texas Intermediate light crude rising about 4% to above $80 per barrel for the first time since mid-July 2024. This rally comes despite the announcement of a ceasefire in Gaza after a devastating 15-month war.



<a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43017610/oil-prices-break-80-reach-6-month-highs-despite-israel-hamas-ceasefire-deal-why-is-crude-rallying">Read the full article here.</a>



China&#8217;s Economy Poised To Overtake US By 2035



Chinese economist Justin Lin Yifu reaffirmed his 31-year-old prediction that China's economy will surpass that of the U.S. within the next five to 10 years. He believes that U.S. economic growth has decelerated along with the sluggish growth in China&#8217;s annual gross domestic product.



<a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42973023/chinas-economy-poised-to-overtake-us-by-2035-says-top-chinese-economist-who-made-the-bold-prediction-1994">Read the full article here.</a>



Ray Dalio Warns US Could &#8216;Go Broke&#8217; As Debt Soars



Ray Dalio, founder of Bridgewater Associates, warned that the United States could "go broke" due to mounting government debt problems. The U.S. currently accounts for 34.6% of global debt, which stands at $102 trillion. Dalio&#8217;s warning comes as U.S. debt has surged past $36 trillion, with interest payments exceeding $892 billion in fiscal year 2024.



<a href="https://www.benzinga.com/news/25/01/42965859/ray-dalio-warns-us-could-go-broke-as-debt-soars-urges-action-to-avert-crisis">Read the full article here.</a>



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<li><a href="https://www.benzinga.com/25/01/43073132/cathie-wood-is-betting-big-on-this-ai-darling-and-no-its-not-nvidia">Cathie Wood&#8217;s Ark Invest Is Betting Big On This AI Darling And No It&#8217;s Not Nvidia</a></li>
</ul>



Photo courtesy: Shutterstock



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>

Economics

US Dollar, Treasury ETFs, Oil Prices, China's Economy, And Ray Dalio's US Debt Warning: This Week In Economics

A benign December inflation report was all it took to ignite another strong rally on Wall Street, with major indices delivering their best weekly performance since the post-election <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43064144/wall-street-roars-ahead-of-trumps-inauguration-intel-rallies-bitcoin-tops-105000-whats-driving-markets-friday">surge in early November.</a>



Heading into the week, markets were gripped by concerns over inflation and interest rates, pricing in just one rate cut by year-end while the 30-year Treasury <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42990155/5-yields-fuel-demand-treasury-etfs-despite-bond-market-pain-relief-rally">yield hovered around 5%.</a>



Fresh data showed inflation rising for the third straight month up to 2.9%, yet right in line with forecasts. A softer core reading — excluding food and energy — gave traders hope that the Fed might cut rates at <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43003047/stocks-rise-on-core-inflation-slowdown-banks-rally-after-strong-q4-earnings-treasury-yields-plummet">least twice this year.</a>



Adding fuel to the bull run, major banks kicked off the fourth-quarter 2024 earnings season with blowout results.



Financial stocks — as tracked by the Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) — jumped 6% for the week, their best <a href="https://www.benzinga.com/news/earnings/25/01/43007354/big-banks-crush-q4-earnings-forecasts-financial-stocks-set-for-biggest-1-day-rally-since-trumps-election">rally since October 2023.</a> Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) led the charge among big players, surging 11% to hit record highs.



In commodities, oil briefly touched $80 per barrel before retreating after the approval of a ceasefire deal in Gaza <a href="https://www.benzinga.com/news/global/25/01/43055426/oil-dips-as-israeli-security-cabinet-approves-gaza-ceasefire-yet-experts-warn-red-sea-risks-persist">between Israel and Hamas.</a>



In cryptocurrency markets, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) continues to defy gravity, surpassing $100,000, fueled by optimism over crypto-friendly policies under the incoming Donald Trump administration.



Trump will officially take office as the 47th U.S. president on Monday.



You might have missed&#8230;



<h1 class="wp-block-heading">Bessent&#8217;s Economic Vision</h1>



Scott Bessent, Trump's Treasury secretary nominee, laid out his economic agenda before the Senate, emphasizing tax cuts, deregulation, energy expansion and tougher trade policies — particularly targeting <a href="https://www.benzinga.com/government/regulations/25/01/43041207/5-things-investors-need-to-know-about-scott-bessents-economic-policies-as-he-faces-senate-grilling-for-treasury-job">China, Russia and Iran.</a>



<h1 class="wp-block-heading">Bitcoin Reserve Talks</h1>



Reports suggest Trump is open to the idea of a U.S. strategic Bitcoin reserve, a move that could reshape fiscal policy and <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43035888/donald-trump-reportedly-open-to-us-crypto-reserve-as-bitcoin-reserve-chatter-gathers-steam">spark industrywide debate.</a>



<h1 class="wp-block-heading">Detroit EV Surge</h1>



Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) and General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) reported a sharp rise in electric vehicle sales, with the Mustang Mach-E and Cadillac Lyriq emerging <a href="https://www.benzinga.com/trading-ideas/25/01/42978236/us-electric-vehicle-sales-hit-record-1-3-million-units-in-2024-despite-tesla-declines-top-10-bestselling-models-list">as top sellers in 2024.</a>



<h1 class="wp-block-heading">TikTok Ban Upheld</h1>



The U.S. Supreme Court upheld a law forcing ByteDance to sell the TikTok app by Jan. 19 <a href="https://www.benzinga.com/general/social-media/25/01/43060894/supreme-court-upholds-tiktok-ban-ahead-of-trumps-inauguration">over national security concerns.</a> Trump could attempt to roll back the <a href="https://www.benzinga.com/general/social-media/25/01/43018125/trump-considers-executive-order-to-save-tiktok-from-being-banned-in-4-days">ban after taking office.</a>



Read Now: 



<ul>
<li><a href="https://www.benzinga.com/25/01/43062563/imf-lifts-us-growth-outlook-betting-markets-raise-odds-on-trump-led-economic-boom">IMF Lifts US Growth Outlook, Betting Markets Raise Odds On Trump-Led Economic Boom</a></li>
</ul>



Photo: Shutterstock

Trading Ideas

$BTC

Wall Street Rallies As Inflation Fears Recede, Banks Smash Earnings, Bitcoin Reclaims $100,000: This Week In The Markets

The past week has been a rollercoaster ride for the electric vehicle (EV) industry, with&nbsp;Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&nbsp;at the center of the action. The company saw a surge in Cybertruck sales, but this success came at the expense of its luxury Model S and X sales. Meanwhile, Tesla CEO Elon Musk denied the company&#8217;s involvement in a fire at a power plant, and rival Jeff Bezos expressed confidence in the competitive landscape of the commercial space industry.



Cybertruck Success Overshadows Tesla&#8217;s Luxury Models



Tesla&#8217;s Cybertruck sales in the U.S. last year weighed heavily on the company&#8217;s other luxury offerings, including the Model S sedan and the Model X SUV, according to recent data from automotive research firm Kelley Blue Book. Tesla sold nearly 39,000 Cybertrucks in 2024, but Model S and X sales took a major hit, dropping 31% and 20% respectively.



<a href="https://www.benzinga.com/25/01/42967593/cybertruck-sales-rise-in-2024-weighed-down-on-tesla-model-s-deliveries-in-us-shows-data">Read the full article here.</a>



Musk Denies Tesla&#8217;s Involvement in Power Plant Fire



Tesla Musk denied the company's involvement in a fire that broke out at a 750 MW Moss Landing battery storage facility. Musk stated that the fire had nothing to do with Tesla and that their Megapacks were operating well.



<a href="https://www.benzinga.com/tech/25/01/43050342/elon-musk-denies-teslas-involvement-in-fire-at-moss-landing-power-plant-in-monterey-county">Read the full article here.</a>



Bezos Confident Despite SpaceX&#8217;s Close Ties to Trump



Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) founder Bezos voiced confidence in the competitive landscape of the commercial space industry, despite President-elect Donald Trump‘s close ties with rival Elon Musk‘s SpaceX. Bezos stated that he takes Musk at face value, dismissing concerns about SpaceX undercutting Blue Origin.&nbsp;<a href="https://www.benzinga.com/general/space/25/01/42937555/jeff-bezos-says-he-takes-elon-musk-at-face-value-despite-his-close-ties-to-trump-dismisses-concerns-about-spacex-undercutting-blue-origin">Read the full article here.</a>



Record High U.S. EV Sales in 2024



The U.S. automotive industry saw a record number of electric vehicles sold in 2024, with over 1.3 million units sold, breaking last year&#8217;s record with a 7.3% year-over-year increase. This record was achieved despite some weakness from sector leader Tesla.



<a href="https://www.benzinga.com/trading-ideas/25/01/42978236/us-electric-vehicle-sales-hit-record-1-3-million-units-in-2024-despite-tesla-declines-top-10-bestselling-models-list">Read the full article here.</a>



Rivian Joins Tesla, Ford in Wildfire Relief Efforts



California-based EV startup Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) joined Tesla and Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) in supporting relief activities in the Los Angeles area battling wildfires. Rivian deployed vehicles to transport relief supplies and support emergency response.



<a href="https://www.benzinga.com/tech/25/01/42994308/rivian-joins-ford-tesla-in-supporting-relief-efforts-amid-california-wildfires">Read the full article here.</a>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/01/43073132/cathie-wood-is-betting-big-on-this-ai-darling-and-no-its-not-nvidia">Cathie Wood&#8217;s Ark Invest Is Betting Big On This AI Darling And No It&#8217;s Not Nvidia</a></li>
</ul>



Image credit: Dall-E 3



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>

AMZN

RIVN

TSLA

Tesla's Mixed Bag, Musk's Fire Denial, Jeff Bezos' Confidence, And Rivian's Relief Efforts: This Week In Mobility

The week has been a whirlwind of events, with President Joe Biden warning of a potential tech oligarchy, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) extending support to wildfire-stricken California, Mary Trump criticizing her uncle&#8217;s wildfire comments, Steve Bannon targeting Elon Musk, and a significant shift in cannabis policy. Let&#8217;s dive into the details.



Biden&#8217;s Tech Oligarchy Warning



President Joe Biden, in his farewell speech, expressed concerns about the emergence of a tech oligarchy that could pose significant threats to the country. The President&#8217;s warning has sparked a debate, with figures like Bernie Sanders and Kevin O&#8217;Leary holding contrasting views on the role of America&#8217;s wealthiest individuals.



<a href="https://www.benzinga.com/tech/25/01/43046693/biden-warns-of-musk-bezos-zuckerberg-oligarchy-but-is-he-to-blame-mark-cuban-says-president-pushed-them-all-into-the-arms-of-trump">Read the full article here.</a>



Tesla&#8217;s Support for California Amid Wildfires



Despite his feud with Gavin Newsom, Tesla CEO Elon Musk has announced that the company will delay Cybertruck deliveries in California to aid in wildfire relief efforts. The trucks will be used to power Starlink internet terminals in areas that have lost connectivity due to the fires.



<a href="https://www.benzinga.com/general/space/25/01/42939786/despite-elon-musks-feud-with-gavin-newsom-tesla-rolls-out-support-for-california-amid-wildfires-with-cybertrucks-starlink-and-megapack-chargers">Read the full article here.</a>



Mary Trump&#8217;s Blast at Uncle&#8217;s Wildfire Comments



Mary Trump, President-elect Donald Trump&#8217;s estranged niece, has criticized her uncle&#8217;s controversial comments on the ongoing wildfires in southern California. The fires have led to the death of at least 16 people and the evacuation of over 153,000 residents.



<a href="https://www.benzinga.com/news/25/01/42935659/mary-trump-blasts-uncle-over-wildfire-comments-if-donald-trump-can-profit-from-your-death-he-will-facilitate-it">Read the full article here.</a>



Steve Bannon&#8217;s Attack on Elon Musk



Steve Bannon, former adviser to the Trump White House, has vowed to expel Elon Musk from the MAGA movement, labeling him as &#8220;truly evil&#8221;. Bannon&#8217;s threat comes despite Musk&#8217;s substantial financial support to President-elect Donald Trump&#8217;s return to the White House.



<a href="https://www.benzinga.com/news/25/01/42935180/steve-bannon-targets-elon-musk-pledges-to-expel-him-from-maga-movement-he-is-a-truly-evil-guy">Read the full article here.</a>



Shift in Cannabis Policy



The National Cannabis Roundtable (NCR) and the U.S. Cannabis Council (USCC) have announced a merger, aiming to represent the cannabis industry more effectively. The newly formed U.S. Cannabis Roundtable will address the 119th Congress and the incoming Trump administration, representing businesses operating in 38 states.



<a href="https://www.benzinga.com/government/regulations/25/01/43042694/president-trumps-endorsement-represents-a-sea-change-in-cannabis-policy-says-trulieve-ceo-as-advocacy-groups-join-forces">Read the full article here.</a>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/01/43073132/cathie-wood-is-betting-big-on-this-ai-darling-and-no-its-not-nvidia">Cathie Wood&#8217;s Ark Invest Is Betting Big On This AI Darling And No It&#8217;s Not Nvidia</a></li>
</ul>



Photos courtesy: Shutterstock



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>

General

Biden's Tech Oligarchy Warning, Tesla's Wildfire Support, Bannon's Musk Attack, And Cannabis Policy Shift: This Week In Politics

Washington state has taken legal action against&nbsp;T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) for&nbsp;allegedly neglecting cybersecurity vulnerabilities, leading to a significant data breach in 2021 that impacted <a target="_blank" href="https://www.benzinga.com/25/01/42931807/t-mobile-sued-over-massive-data-breach-impacting-79-million-americans-sensitive-information-included-names-addresses-and-more" rel="noreferrer noopener">79 million people across the U.S</a>.



Social Media &amp; Smartphones



President-elect&nbsp;Donald Trump&nbsp;is considering issuing an executive order aimed at rescuing&nbsp;TikTok&nbsp;from being banned from <a target="_blank" href="https://www.benzinga.com/general/social-media/25/01/43018125/trump-considers-executive-order-to-save-tiktok-from-being-banned-in-4-days" rel="noreferrer noopener">U.S. app&nbsp;stores in four days</a>.&nbsp;



The potential ban of TikTok could impact the app's nearly 17,000 employees in the U.S., <a target="_blank" href="https://www.benzinga.com/general/social-media/25/01/42997566/tiktok-is-set-to-be-banned-in-the-us-this-sunday-unless-the-supreme-court-steps-in-heres-what-happens-to-its-nearly-17000-american-workforce" rel="noreferrer noopener">sparking a wave of uncertainty</a>.



Jimmy Donaldson, popularly known as&nbsp;MrBeast, is in talks with several billionaires about potentially acquiring&nbsp;TikTok to <a target="_blank" href="https://www.benzinga.com/general/social-media/25/01/42994923/mrbeast-discussing-buying-tiktok-with-billionaires-to-prevent-us-shutdown-lets-see-if-we-can-pull-this-off" rel="noreferrer noopener">prevent its shutdown in the U.S</a>.



Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) investor&nbsp;Gary Black&nbsp;has expressed concerns about&nbsp;Elon Musk&nbsp;<a target="_blank" href="https://www.benzinga.com/25/01/43019833/elon-musk-buying-tiktok-could-hurt-tesla-warns-gary-black-but-dan-ives-thinks-it-makes-sense" rel="noreferrer noopener">acquiring TikTok&#8217;s U.S. operations</a>.



Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is experiencing a drop in its market share in China. This decline is attributed to a decrease in iPhone shipments, as reported by <a href="https://www.benzinga.com/tech/25/01/42931758/apple-staring-at-market-share-decline-in-china-amid-declining-iphone-shipments-top-analyst-flags-why-some-models-could-be-face-shipping-momentum-challenges" target="_blank" rel="noreferrer noopener">supply chain analyst </a><a href="https://www.benzinga.com/tech/25/01/42931758/apple-staring-at-market-share-decline-in-china-amid-declining-iphone-shipments-top-analyst-flags-why-some-models-could-be-face-shipping-momentum-challenges" target="_blank" rel="noreferrer noopener">Ming-Chi Kuo</a>.



Technology



Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)&nbsp;launched&nbsp;365 Copilot Chat, its AI-powered chat service with AI agents and a new pay-as-you-go plan. The company has rebranded its AI chat service, formerly known as&nbsp;Bing Chat Enterprise, under a new plan named <a target="_blank" href="https://www.benzinga.com/25/01/43022267/microsoft-launches-new-ai-agents-in-365-copilot-chat-to-drive-widespread-adoption-of-task-automation-tools" rel="noreferrer noopener">Microsoft 365 Copilot Chat</a>.



As Southern California battles severe wildfires,&nbsp;NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)&nbsp;researcher&nbsp;Jim Fan&nbsp;emphasized the potential of AI-powered robots in managing such disasters, stating that artificial intelligence could <a target="_blank" href="https://www.benzinga.com/tech/25/01/42946197/nvidias-ai-robots-may-revolutionize-firefighting-amid-california-wildfires" rel="noreferrer noopener">significantly aid firefighting efforts</a>.



An internal memo from&nbsp;Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has unveiled a strategy to implement&nbsp;performance-based job cuts. The memo indicates that Meta aims to achieve a 10% "non-regrettable attrition" rate by the end of <a target="_blank" href="https://www.benzinga.com/media/25/01/42995912/meta-plans-to-cut-5-of-staff-backfill-roles-in-2025-says-internal-memo" rel="noreferrer noopener">the current performance cycle</a>.



Meta Platforms has admitted that officials from the Biden administration have been exerting pressure on Meta staff to <a target="_blank" href="https://www.benzinga.com/25/01/42931361/mark-zuckerberg-says-biden-officials-berated-meta-staff-as-they-refused-to-remove-true-content-it-just-got-to-this-pointthats-ridiculous" rel="noreferrer noopener">remove specific content from the platform</a>.



Hewlett Packard Enterprise Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) has reportedly secured&nbsp;a deal worth over $1&nbsp;billion to supply&nbsp;servers optimized for artificial intelligence to&nbsp;<a target="_blank" href="https://www.benzinga.com/25/01/42931833/hewlett-packard-enterprise-strikes-1b-ai-server-deal-with-elon-musks-x-report" rel="noreferrer noopener">Elon Musk</a><a target="_blank" href="https://www.benzinga.com/25/01/42931833/hewlett-packard-enterprise-strikes-1b-ai-server-deal-with-elon-musks-x-report" rel="noreferrer noopener">‘s social media platform, X</a>.



Artificial Intelligence (AI)



On Tuesday,&nbsp;OpenAI&nbsp;announced the introduction of a beta feature named &#8220;Tasks&#8221; for&nbsp;ChatGPT. The &#8220;Tasks&#8221; feature allows ChatGPT users to schedule future tasks, such as setting reminders for events or arranging regular <a target="_blank" href="https://www.benzinga.com/25/01/42993561/is-openais-chatgpt-about-to-make-amazons-alexa-apples-siri-and-google-assistant-a-thing-of-the-past" rel="noreferrer noopener">updates like daily weather forecasts</a>.



A former&nbsp;OpenAI&nbsp;engineer's death has sparked controversy after his mother claimed he possessed sensitive documents about the artificial intelligence company's practices.&nbsp;Suchir Balaji, who had worked with&nbsp;Sam Altman‘s AI company, was found dead in his San Francisco apartment <a target="_blank" href="https://www.benzinga.com/tech/25/01/43023088/openai-whistleblower-suchir-balajis-mother-says-her-son-had-documents-against-sam-altmans-ai-startup-elon-musk-calls-it-extremely-concerning" rel="noreferrer noopener">in&nbsp;what authorities ruled a suicide</a>.

Equities

Large Cap

TMUS

Consumer Tech News (Jan 13-17): Meta Plans Performance Based Job Cuts, Youtuber MrBeast Aims To Buy TikTok To Prevent Shutdown & More

These eleven large-cap stocks were the worst performers in the last week. Are they in your portfolio?



<ol>
<li>FTAI Aviation Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTAI#NASDAQ">FTAI</a>) shares plummeted 35.42% after short seller firm Muddy Waters Research announced they <a href="https://www.benzinga.com//node/43040046" target="_blank" rel="noreferrer noopener">initiated a short position in the company</a>.</li>



<li>Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) stock plunged 19.38% after the company updated its 2025 expected revenue range to $1.5 billion to $2.5 billion, below <a href="https://www.benzinga.com//node/42946454" target="_blank" rel="noreferrer noopener">analyst estimates of $2.951 billion</a>. Morgan Stanley maintained an Equal-Weight rating and lowered the <a href="https://www.benzinga.com/quote/mrna/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast from $70 to $38</a>.</li>



<li>GameStop Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) stock declined 14.86%. In a recent X post, CNBC's Jim Cramer <a href="https://www.benzinga.com//node/43053808" target="_blank" rel="noreferrer noopener">steered investors toward</a> quantum stocks, suggesting they reinvest gains from GameStop into Rigetti Computing Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>).</li>



<li>Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) shares dipped 12.91% following a report suggesting that Trump is considering an executive order to save TikTok from a U.S. ban.</li>



<li>Rocket Lab USA, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>) shares were down 10.81%. The company disclosed that its second Pioneer spacecraft for Varda Space Industries, Inc. is<a href="https://www.benzinga.com//node/43028933" target="_blank" rel="noreferrer noopener"> successfully operating in orbit</a>.</li>



<li>Natera, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTRA#NASDAQ">NTRA</a>) stock lost 9.51% last week despite Guggenheim <a href="https://www.benzinga.com/quote/ntra/analyst-ratings" target="_blank" rel="noreferrer noopener">raising the price forecast</a> from $170 to $200. The company is due to provide a roadmap and outlook at the J.P. Morgan Healthcare Conference.</li>



<li>Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) stock decreased 9.27%  after the company issued FY24 revenue guidance <a href="https://www.benzinga.com//node/42976923" target="_blank" rel="noreferrer noopener">below the previous estimate</a>.</li>



<li>ICON plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLR#NASDAQ">ICLR</a>) stock fell 9.22% after the company issued FY25 guidance with <a href="https://www.benzinga.com//node/42971328" target="_blank" rel="noreferrer noopener">its midpoint below estimates</a>.</li>



<li>BioNTech SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>) shares declined 8.89% after Moderna issued 2025 revenue <a href="https://www.benzinga.com//node/42951363" target="_blank" rel="noreferrer noopener">guidance below analyst estimates</a>.</li>



<li>Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) shares fell 8.89% after Ozempic and Wegovy were included in a list of 15 medications for <a href="https://www.benzinga.com//node/43062779" target="_blank" rel="noreferrer noopener">Medicare drug price negotiations</a>.</li>



<li>BioMarin Pharmaceutical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMRN#NASDAQ">BMRN</a>) shares tumbled 8.68%. The company initiated a legal action against Ascendis Pharma A/S for infringement of European patent EP 3 175 863 B1 at the <a href="https://www.benzinga.com//node/42953403" target="_blank" rel="noreferrer noopener">Unified Patent Court (UPC) in Munich, Germany</a>.</li>
</ol>



Photos courtesy: Shutterstock

Short Sellers

Movers

BMRN

BNTX

FTAI

ICLR

MRNA

NTRA

RGTI

RKLB

SNAP

Moderna, GameStop And Snap Are Among Top Large-Cap Losers Last Week (Jan 13-Jan 17): Are The Others In Your Portfolio?

These eleven large-cap stocks were the best performers in the last week. Are they in your portfolio?



<ol>
<li>Intra-Cellular Therapies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ITCI#NASDAQ">ITCI</a>) stock surged 33.02% after Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) entered into a definitive agreement to acquire the company for $132 per share in cash, valuing <a href="https://www.benzinga.com//node/42959061" target="_blank" rel="noreferrer noopener">it at approximately $14.6 billion</a>. A couple of analysts <a href="https://www.benzinga.com/quote/itci/analyst-ratings" target="_blank" rel="noreferrer noopener">downgraded the stock</a>.</li>



<li>MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) stock grew 20.92% on <a href="https://www.benzinga.com//node/43062726" target="_blank" rel="noreferrer noopener">Bitcoin's continued upward momentum</a>.</li>



<li>Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) stock upped 20.13% after announcing a $45 million <a href="https://www.benzinga.com//node/42971991" target="_blank" rel="noreferrer noopener">settlement with the SEC</a>.</li>



<li>Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) stock rose 19.39% after Hindenburg Research, which previously issued a short report on the stock, <a href="https://www.benzinga.com//node/43034961" target="_blank" rel="noreferrer noopener">announced it would close down</a>.</li>



<li>BeiGene, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONC#NASDAQ">ONC</a>) shares gained 18.88% last week.</li>



<li>JD.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) shares were up 17.82% on the acceleration of China's economic activity, beating expectations for the last quarter of 2024 <a href="https://www.benzinga.com//node/43062957" target="_blank" rel="noreferrer noopener">as stimulus measures kicked in</a>.</li>



<li>Builders FirstSource, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLDR#NYSE">BLDR</a>) stock upped 17.26%.</li>



<li>SoFi Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>) shares escalated 16.61%. The company disclosed a personal loan securitization agreement <a href="https://www.benzinga.com//node/43037459" target="_blank" rel="noreferrer noopener">with a global fixed-income manager on Thursday</a>.</li>



<li>Symbotic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NASDAQ">SYM</a>) shares increased 16.30% after the company announced an agreement to acquire Walmart Inc.'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) <a href="https://www.benzinga.com//node/43026684" target="_blank" rel="noreferrer noopener">Advanced Systems and Robotics business</a>. Northland Capital Markets maintained an Outperform rating while raising the price <a href="https://www.benzinga.com/quote/sym/analyst-ratings" target="_blank" rel="noreferrer noopener">forecast to $41 from $35</a>.</li>



<li>XPeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) stock gained 15.63% last week after China's central bank <a href="https://www.benzinga.com//node/42974632" target="_blank" rel="noreferrer noopener">reportedly indicated</a> it would take measures to support economic growth. China's GDP growth data also <a href="https://www.benzinga.com//node/43062957" target="_blank" rel="noreferrer noopener">fueled optimism</a>.</li>



<li>United Rentals, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/URI#NYSE">URI</a>) stock upped 14.91% after announcing <a href="https://www.benzinga.com//node/42974291" target="_blank" rel="noreferrer noopener">it would acquire</a> H&amp;E Equipment Services, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HEES#NASDAQ">HEES</a>) for $4.8 billion. Additionally, Baird upgraded the stock <a href="https://www.benzinga.com/quote/uri/analyst-ratings" target="_blank" rel="noreferrer noopener">from Underperform to Neutral</a>.</li>
</ol>



Photo by JOCA_PH on Shutterstock

BLDR

CVNA

HEES

ITCI

MSTR

SOFI

XPEV

MicroStrategy, SoFi Technologies And Carvana Are Among Top Large-Cap Gainers Last Week (Jan 13-Jan 17): Are The Others In Your Portfolio?

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.



The Dow, S&amp;P 500, and Nasdaq gained 3.7%, 2.9%, and 2.5% this week, respectively, with all three posting their strongest advances in weeks. 



A December inflation report, showing a 2.9% rise <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43003047/stocks-rise-on-core-inflation-slowdown-banks-rally-after-strong-q4-earnings-treasury-yields-plummet">and softer core inflation</a>, fueled optimism for potential Fed rate cuts this year. Financial stocks surged 6% as major banks reported stellar earnings, with Goldman Sachs jumping 11% to record highs. 



Meanwhile, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) crossed $100,000 amid optimism surrounding crypto-friendly policies expected under the <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43068335/wall-street-rallies-as-inflation-fears-recede-banks-smash-earnings-bitcoin-reclaims-100000-this-week-in-the-markets">incoming Trump administration.</a>



Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.



<h3 class="wp-block-heading">The Bulls</h3>



&#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43036902/tesla-stock-valuation-analyst-flags-long-term-growth-opportunities-robotaxis-fsd">Tesla Stock &#8216;Valuation Is Full&#8217;: Analyst Flags Long-Term Growth Opportunities With Robotaxis, FSD</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, discusses a Goldman Sachs analyst&#8217;s insights on Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), forecasting $115 million in 2027 revenue from robotaxis as Full Self-Driving (FSD) technology advances.



&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42993997/dogecoin-to-hit-new-all-time-high-after-trump-is-sworn-in-influencer-says-pattern-nearly-identical-to-last-inauguration">Dogecoin To Hit New All-Time High After Trump Is Sworn In? Influencer Says Pattern &#8216;Nearly Identical&#8217; To Last Inauguration</a>,&#8221; by <a href="https://www.benzinga.com/author/aniket-verma">Aniket Verma</a>, highlights speculation among influencers that Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) could replicate its post-inauguration rally from 2021, with one suggesting DOGE might double to $0.73 if historical patterns repeat.



&#8220;<a href="https://www.benzinga.com/analyst-ratings/initiation/25/01/43010706/doge-fears-for-defense-contractors-lockheed-martin-northrop-grumman-overblown-analyst-says">DOGE Fears For Defense Contractors Lockheed Martin, Northrop Grumman &#8216;Overblown,&#8217; Analyst Says</a>,&#8221; by <a href="https://www.benzinga.com/author/erica-kollmann">Erica Kollmann</a>, features an analyst initiating coverage on Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) and Northrop Grumman Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) with Buy ratings and targets of $579 and $544, dismissing concerns tied to Donald Trump's proposed Department of Government Efficiency as exaggerated.



For additional bullish calls of the past week, check out the following:



<a href="https://www.benzinga.com/25/01/42948649/goldman-sachs-warns-of-90-oil-risk-trump-may-not-ease-sanctions-once-he-takes-office">Oil Could Hit $90, Goldman Sachs Says: &#8216;Trump May Not Ease Sanctions&#8217; On Russia</a>



<a href="https://www.benzinga.com/24/12/42692787/private-prisons-poised-to-prosper-in-second-trump-term">CoreCivic, Geo Group Rally By Double Digits Since Election Day: Why Trump Boosts Private Prison Stocks</a>



<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43035566/taiwan-semiconductor-projects-ai-revenue-to-double-in-2025-highlights-advanced-packaging-as-growth-driver-analyst">Taiwan Semiconductor Projects AI Revenue To Double In 2025, Highlights Advanced Packaging As Growth Driver: Analyst</a>



The Bears



&#8220;<a href="https://www.benzinga.com/25/01/42960291/metas-content-moderation-changes-alarm-advertisers-as-zuckerberg-aligns-with-trump-and-musk">Meta&#8217;s Content Moderation Changes Alarm Advertisers as Zuckerberg Aligns with Trump and Musk</a>,&#8221; by <a href="https://www.benzinga.com/author/anusuya-lahiri-0">Anusuya Lahiri</a>, reports on Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) adopting a &#8220;free speech&#8221; content moderation style inspired by Elon Musk&#8217;s X, raising advertiser concerns over harmful content.



&#8220;<a href="https://www.benzinga.com/trading-ideas/short-ideas/25/01/43037214/drone-maker-red-cat-set-to-be-blown-out-of-the-sky-short-seller-claims-management-set-almost-impossible-expectations">Drone Maker Red Cat &#8216;Set To Be Blown Out Of The Sky&#8217;: Short Seller Claims Management Set &#8216;Almost Impossible&#8217; Expectations</a>,&#8221; by&nbsp;<a href="https://www.benzinga.com/author/adam-eckert">Adam Eckert</a>, covers Kerrisdale Capital's short position on Red Cat Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCAT#NASDAQ">RCAT</a>), arguing the company&#8217;s valuation is inflated by unrealistic expectations surrounding its U.S. Army SRR drone contract, which the firm says bears &#8220;almost no relationship to reality.&#8221;



&#8220;<a href="https://www.benzinga.com/25/01/42986042/apple-sees-market-share-decline-in-2024-as-chinese-smartphone-brands-surge-globally-idc">Apple Sees Market Share Decline in 2024 as Chinese Smartphone Brands Surge Globally: IDC</a>,&#8221; by <a href="https://www.benzinga.com/author/anusuya-lahiri-0">Anusuya Lahiri</a>, highlights Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) losing global market share to Chinese competitors like Xiaomi Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/XIACF#OTC">XIACF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/XIACY#OTC">XIACY</a>) as smartphone shipments grew 6.4% in 2024, driven by affordable premium offerings and aggressive pricing in emerging markets.



For more bearish takes, be sure to see these posts:



<a href="https://www.benzinga.com/25/01/42970112/nvidia-order-delays-and-ai-sanctions-threaten-global-sales-offer-growth-opportunity-for-us-tech-giants">US Semiconductor Sanctions Spell Trouble for Nvidia, But May Benefit Big Tech</a>



<a href="https://www.benzinga.com/government/regulations/25/01/43017875/southwest-airlines-is-sued-by-department-of-transportation-over-chronically-delayed-flights">Southwest Airlines Is Sued By Department Of Transportation Over &#8216;Chronically Delayed&#8217; Flights</a>



<a href="https://www.benzinga.com/25/01/42938301/michael-saylors-microstrategy-will-struggle-when-bitcoins-volatility-falls-says-arthur-hayesi-would-not-trade-mstr-at-all">Michael Saylor&#8217;s MicroStrategy Will Struggle When Bitcoin&#8217;s Volatility Falls, Says Arthur Hayes — I Would Not Trade MSTR At All</a>



Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.



Image created using artificial intelligence via Midjourney.

Long Ideas

Short Ideas

$DOGE

RCAT

XIACF

XIACY

Benzinga Bulls And Bears: Tesla, Apple, Meta And Dogecoin Influencers See Pattern For Post-2025 Inauguration Rally

Sherpa, a highly followed crypto analyst, has forecasted a significant surge for the altcoin Hyperliquid (CRYPTO: HYPE). 



What Happened: In a <a href="https://x.com/AltcoinSherpa/status/1880248083956789654">post</a> on X, Sherpa shared his bullish perspective on Hyperliquid. The crypto analyst anticipates that HYPE, a utility token of the decentralized open financial system, could surge by at least 116% from its current level before the end of this cycle.



Despite seeing potential in HYPE, Sherpa advises his followers to gradually scale in their positions. He also mentioned, &#8220;Not one to give you&nbsp;a 10x at these current&nbsp;levels for this cycle in&nbsp;my opinion but could still&nbsp;be a safe one to&nbsp;hold.&#8221;



Last month, the altcoin&nbsp;earned $26.5 million in USDC revenue through platform fees and ticker auctions.



Regarding XRP, Sherpa advises patience, noting that it&#8217;s&nbsp;not at an ideal level&nbsp;for long entries. When it comes to Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>), Sherpa sees strength in the altcoin&nbsp;on the weekly time frame, predicting it could continue to rise if other first-generation altcoins appreciate.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39125451/crypto-trader-says-these-two-meme-coins-are-set-to-spike-and-neither-of-them-are-dogecoin-">Crypto Trader Says These Two Meme Coins Are Set To Spike — And Neither Of Them Are Dogecoin Or Shiba Inu</a>



Lastly, Sherpa remains optimistic about Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>),&nbsp;the largest memecoin by market&nbsp;cap. He suggests that DOGE could trade within a range for a&nbsp;while before revisiting its&nbsp;42-month high of around $0.485.



Why It Matters: Sherpa&#8217;s predictions are significant given his large following and the current volatile nature of the crypto market. His bullish outlook on Hyperliquid could potentially influence other traders and investors. 



His cautionary advice on XRP and optimism for Cardano and Dogecoin also provide valuable insights for those navigating the crypto market. 



However, as always, investors should conduct their own research and consider multiple perspectives before making investment decisions.



Read Next



<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42319671/ethereum-killer-hyperliquid-explodes-for-274-7-day-gain-could-create-more-millionaires-than-microsoft-at-this-rate-trader-says">Hyperliquid Explodes For 274% 7-Day Gain, Could Create &#8216;More Millionaires Than Microsoft At This Rate,&#8217; Trader Says</a>

$ADA

Forget Dogecoin And Shiba Inu - This Altcoin Expected To Skyrocket By 116% Before End Of This Cycle

Sonos Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SONO#NASDAQ">SONO</a>) is grappling with the most severe crisis in its history in the aftermath of a catastrophic software rollout last year. Bloomberg columnist Mark Gurman says that several tech giants could potentially save the digital speaker company, with most speculation centering on a possible acquisition by Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>).



What Happened: In his latest Power On newsletter, Gurman <a href="https://www.benzinga.com/news/management/25/01/42947823/sonos-shares-jump-after-company-announces-ceo-transition-the-details">writes</a> that Sonos launched a revamped app last May that was intended to refresh the Sonos experience and pave the way for new products. However, the app was riddled with bugs and missing key features, leading to significant user dissatisfaction and tarnishing the brand&#8217;s image.



Six months post the app&#8217;s launch, the company bid farewell to CEO Patrick Spence and its chief product officer. Tom Conrad, Pandora&#8217;s co-creator and a former executive at Snap Inc., has stepped in as the interim CEO.



With Sonos&#8217; market valuation plummeting to approximately $1.7 billion from over $5 billion, the board is contemplating whether selling the company might be a feasible solution. Apple, given its similar emphasis on premium design and audio technology, is viewed as a potential buyer.



Other possible buyers include:



<ul>
<li>Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), which Gurman says &#8220;seems like the most natural fit,&#8221;</li>



<li>Samsung Electronics Co. (KRX: 005930), a possible &#8220;wild card,&#8221;</li>



<li>Roku Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>), though it &#8220;would probably face antitrust concerns,&#8221; and </li>



<li>Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>), which &#8220;has long wanted to get into hardware but struggled to make it happen.&#8221;</li>
</ul>



Despite the rumors, many within Sonos are of the opinion that Conrad may become the permanent CEO if he is open to accepting the role.



Why It Matters: The turmoil at Sonos began with the departure of CEO Patrick Spence. The company&#8217;s shares took a hit following the announcement of the CEO transition.



The subsequent software debacle further eroded the company&#8217;s market value, leading to the current speculation about a potential sale.



The outcome of this crisis could significantly impact the future of Sonos and its stakeholders.

ROKU

SONO

SPOT

Could Cupertino Save Struggling Sonos? Speculation About Apple Bid Abounds

Anthony Scaramucci has expressed his disapproval of President-elect Donald Trump&#8216;s newly launched meme coin TRUMP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>), <a href="https://www.benzinga.com/news/24/08/40666453/scaramucci-trump-is-in-trouble-and-he-knows-it-slams-him-on-conflicting-abortion-statements-hes-shot">labeling it &#8220;corruption.&#8221;</a>



What Happened: On Saturday, Trump announced the launch of his official &#8220;$TRUMP&#8221; meme coin. The coin, which was developed by Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), has received a substantial market response, with its price escalating from $0.18 to $26.95, marking&nbsp;a 253.75 percent increase in&nbsp;just 24 hours. 



The coin&#8217;s market cap then reached to a staggering $5.39 billion.



Responding to the launch of TRUMP meme coin, Scaramucci criticized the venture on X and referred to&nbsp;it as &#8220;corruption&#8221; and &#8220;bad&nbsp;for the industry.&#8221;



<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">The Trump meme coin stuff is bad for the industry. Don't delude yourself. It's Idi Amin level corruption.&mdash; Anthony Scaramucci (@Scaramucci) <a href="https://twitter.com/Scaramucci/status/1880570676043727354?ref_src=twsrc%5Etfw">January 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



This is not Trump&#8217;s first foray into selling merchandise featuring his image. He has previously sold items such as digital trading cards, high-top sneakers, T-shirts, and Bibles. 



Also Read: <a href="https://www.benzinga.com/news/24/11/41866624/scaramucci-on-trump-win-i-got-it-wrong-im-not-going-to-whine-about-it">Scaramucci On Trump Win: &#8216;I Got It Wrong, I&#8217;m Not Going To Whine About It&#8217;</a>



His niece Mary Trump has accused him in the past of &#8220;grifting&#8221; through the sale of such merchandise. The meme coin was launched just days before Trump&#8217;s inauguration as president.



Why It Matters: The launch of the &#8220;$TRUMP&#8221; meme coin and its subsequent market response is indicative of the growing influence of cryptocurrencies. However, the criticism from Scaramucci, a former aide and industry insider, raises questions about the ethical implications of such ventures. 



This incident underscores the need for clear regulations and transparency in the cryptocurrency industry to prevent potential misuse and ensure investor protection.



Read Next



<a href="https://www.benzinga.com/news/24/11/42254953/scaramucci-on-trump-deportation-plan-were-going-to-have-a-stock-market-crash">Scaramucci on Trump Deportation Plan: &#8216;We&#8217;re Going To Have a Stock Market Crash&#8217;</a>



Image: Shutterstock

$SOL

Scaramucci Criticizes Donald Trump's Meme Coin Launch: 'Idi Amin-Level Corruption'

President-elect Donald Trump&#8216;s Saturday launch of the meme coin TRUMP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) has caused a stir in both the crypto industry and among government watchdogs.



What Happened: The meme coin&#8217;s market value soared to $5.6 billion within just 24 hours of the launch, suggesting a potential financial boon for entities linked to Trump.



The token, which provides direct financial advantages to the president-elect's family, has drawn immediate backlash from government watchdogs. They perceive it as a violation of ethical standards and a way for the president-elect to monetize his international prestige.



The TRUMP meme coin, unlike other digital assets, is not tied to any underlying business. This makes it a highly speculative investment for investors and potentially extremely lucrative for its creators. 



As per the <a href="https://www.benzinga.com/pro/">Benzinga Pro</a> data, the meme coin&#8217;s market value reached $14.2 billion early Sunday, nearly tripling from $4.9 billion just 12 hours prior.



The meme coins started selling for $10 each before soaring to as high as about $70 as of Sunday morning.



At the time of writing TRUMP was trading at $56.02, up by almost 95% in the last 24 hours. 



According to a report <a href="https://www.bloomberg.com/news/articles/2025-01-19/trump-s-memecoin-creates-billions-from-thin-air-before-dc-return?sref=TBDibEcD">by </a>Bloomberg, CIC Digital LLC, an affiliate of the Trump Organization, and a related entity, Fight Fight Fight LLC, own an 80% share of the digital asset. These holdings will be gradually unlocked over a span of three years.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43074504/crypto-firms-donate-millions-to-trump-inaugural-fund-host-unofficial-ball-featuring-snoop-dogg">Crypto Firms Donate Millions to Trump Inaugural Fund, Host Unofficial Ball Featuring Snoop Dogg</a>



"$Trump&nbsp;is currently the hottest digital meme on earth,"&nbsp;Eric Trump&nbsp;wrote on X. 



<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">I am extremely proud of what we continue to accomplish in crypto. <a href="https://twitter.com/search?q=%24Trump&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$Trump</a> is currently the hottest digital meme on earth and I truly believe that <a href="https://twitter.com/worldlibertyfi?ref_src=twsrc%5Etfw">@WorldLibertyFi</a> will revolutionize DeFi/Cefi and will be the future of finance. We are just getting started! &#x1f680;&#x1f680; <a href="https://t.co/YzdxoCWrKV">https://t.co/YzdxoCWrKV</a>&mdash; Eric Trump (@EricTrump) <a href="https://twitter.com/EricTrump/status/1880670273768435759?ref_src=twsrc%5Etfw">January 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The official meme coin website <a href="https://gettrumpmemes.com/#tokenomics">says</a> that their holdings will unlock over a three-year period, with 200 million tokens available immediately and 1 billion in circulation over the next three years.



Despite the controversy surrounding its launch, the crypto industry, which felt unjustly targeted under President Joe Biden administration, has welcomed the new meme coin. Crypto companies reportedly&nbsp;spent $10 million on Trump's&nbsp;inauguration, indicating their support for the incoming administration.



Why It Matters: The launch of the Trump meme coin is a significant event in the crypto industry. It represents a shift in the relationship between politics and cryptocurrency, with a high-profile political figure directly benefiting from a digital asset. 



This move could potentially influence future political and financial strategies, as well as regulatory approaches to cryptocurrency. 



However, the controversy surrounding the launch also highlights the ethical concerns and potential conflicts of interest that can arise when political figures engage in such ventures.



Read Next



<a href="https://www.benzinga.com/25/01/43074520/solana-skyrockets-sees-15-surge-following-launch-of-trump-themed-meme-coin">Solana Skyrockets, Sees 15% Surge Following Launch Of Trump-Themed Meme Coin</a>



Image: Shutterstock

Donald Trump's Meme Coin 'TRUMP' Rallies 103% in a Day, Creates Billions Out of Thin Air

The Los Angeles wildfires have caused widespread destruction, with over 40,000 acres burned, 12,300 structures destroyed and thousands displaced. According to estimates from AccuWeather, the financial impact is between $250 billion and $275 billion and counting.



President Joe Biden recently declared, "I told the governor and local officials, spare no expense," pledging federal support for the disaster response. With FEMA and other organizations providing emergency assistance, this destruction still begs the crucial question: Who is paying for it?



<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">President Biden: &quot;Today I&#39;m announcing that the federal government will cover 100% of the cost for 180 days&#8230;I told the governor and local officials spare no expense to do what they need to do to contain these fires.&quot; <a href="https://t.co/TopHguIBBR">pic.twitter.com/TopHguIBBR</a>&mdash; CSPAN (@cspan) <a href="https://twitter.com/cspan/status/1877484094021386285?ref_src=twsrc%5Etfw">January 9, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Don't Miss:



<ul>
<li>It&#8217;s no wonder Jeff Bezos holds over $70 million in art — <a href="https://www.benzinga.com/money/masterworks">this alternative asset has outpaced the S&amp;P 500 since 1995, delivering an average annual return of 11.4%. Here&#8217;s how everyday investors are getting started.</a></li>



<li>The Biggest Disruption To IP Since Disney — <a href="https://www.benzinga.com/money/elf-labs-1">Get in now as they monetize a $2 Trillion market by building content around the most profitable Character IP in history and combining it with the Patented Technology IP of the future.</a></li>
</ul>



<h2 class="wp-block-heading">Governments, Insurers and Residents Share the Costs</h2>



As Business Insider reports, the federal government covers immediate response efforts, including fire containment and emergency shelters. FEMA offers displaced families hazard mitigation and financial aid, but these programs aren't designed to fully rebuild homes or businesses. For that, private insurers and residents are largely on their own.



However, insurance coverage is becoming a significant hurdle. Companies like Allstate, State Farm and Farmers have <a href="https://www.benzinga.com/real-estate/24/03/37964319/another-home-insurer-leaves-california-and-eight-other-states">recently stopped covering</a> in high-risk areas, citing rising disaster risks. Many residents are left relying on California's FAIR plan, the state's last-resort insurance program. This often results in higher premiums and less comprehensive coverage, leaving homeowners with steep out-of-pocket costs.



See Also: ‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. <a href="https://www.benzinga.com/money/mode-mobile-2">You can invest today for just $0.26/share with a $1000 minimum.</a>



For <a href="https://www.benzinga.com/real-estate/24/11/41685300/1-in-13-homeowners-are-risking-it-all-heres-why-experts-call-it-a-huge-mistake">uninsured residents</a>, rebuilding isn't just challenging – it's financially crippling. And while state and local governments offer some support, long-term recovery largely depends on personal finances and private contributions.



It's not just the direct costs of rebuilding homes and infrastructure that add up. Indirect losses, like health care expenses, lost wages and business disruptions, compound the financial blow. The destruction of neighborhoods with high property values, such as Malibu, Santa Monica and the Pacific Palisades, further increases the economic toll.



The price of materials and labor is also expected to soar. Demand for contractors, plumbers, electricians and other specialists will outstrip supply, pushing costs higher. Furthermore, building supplies like steel and lumber may increase due to inflation and possible price gouging.



Trending: <a href="https://www.benzinga.com/money/qnetic-2">This 12,000 RPM Spinning Battery With Over $100 Million In LOIs Could Be The Missing Link For Green Energy — Here&#8217;s Why Early Investors Are Flocking To Invest Before Funding Closes</a>



<h2 class="wp-block-heading">A Long Road to Recovery</h2>



The sheer scale of the damage has made the Los Angeles wildfires one of the costliest disasters in U.S. history, surpassing even the record-breaking wildfire seasons of recent years.&nbsp;



President Biden has promised that the federal government will cover all the fire response costs and give affected families a <a href="https://www.benzinga.com/25/01/42992642/biden-administration-announces-one-time-770-payments-to-california-wildfire-victims">$770 one-time check</a>. Still, rebuilding will take years and more money and planning will be needed. Local leaders are asking Congress for extra funding, but it's unclear when that will happen.



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<li>Built on the trusted network of Fortune 500 companies, <a href="https://www.benzinga.com/money/web3-enabler-the-most-boring-blockchain-company-partners-with-salesforce">this blockchain company partners with Salesforce to uproot lengthy and expensive B2B transactions, and you can invest with just $100.</a></li>



<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share!</a></li>
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Image from Shutterstock

'Spare No Expense,' Says Biden, But Who's Really Footing The Bill, As The Los Angeles Wildfire Damage Surpasses $250 Billion

Online trading platform Robinhood reportedly transferred a whopping 131 million Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) within the span of an hour, sparking intrigue and <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42256959/dogecoin-trading-volume-skyrockets-76-indicating-potential-major-price-upswing">speculation among crypto enthusiasts</a>.



What Happened: According to <a href="https://whale-alert.io/transaction/dogecoin/942ce5c784b2e9f4d6c5b0fde2c028767d54eefd13c00068b10c71c543c80935">data</a>, this massive amount of DOGE was moved in two significant transactions.



The initial&nbsp;transaction involved the transfer of&nbsp;80,452,117 DOGE, valued at approximately&nbsp;$33,127,063, from Robinhood to an&nbsp;unidentified wallet. 



The subsequent transaction witnessed&nbsp;51,954,195 DOGE, worth around $21,334,106,&nbsp;being transferred from Robinhood to leading cryptocurrency exchange,&nbsp;Coinbase.



<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">&#x1f6a8; &#x1f6a8; 80,452,117 <a href="https://twitter.com/hashtag/DOGE?src=hash&amp;ref_src=twsrc%5Etfw">#DOGE</a> (33,127,063 USD) transferred from <a href="https://twitter.com/hashtag/Robinhood?src=hash&amp;ref_src=twsrc%5Etfw">#Robinhood</a> to unknown wallet<a href="https://t.co/FV4f1wCkh1">https://t.co/FV4f1wCkh1</a>&mdash; Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1880312975711461739?ref_src=twsrc%5Etfw">January 17, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



These considerable transactions could&nbsp;be associated with whales or&nbsp;institutional entities. The transfer to Coinbase might imply&nbsp;a potential sale or preparation&nbsp;for trading activity. 



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42497156/dogecoin-poised-for-85-surge-as-whales-accumulate-130-billion-doge">Dogecoin Poised For 85% Surge As Whales Accumulate 130 Billion DOGE</a>



Conversely,&nbsp;the transfer to an unknown&nbsp;wallet could suggest private custody or acquisition&nbsp;by a large holder or&nbsp;whale. Nevertheless, the precise motive behind the transfers remains a mystery.



Why It Matters: These recent transactions underscore the increasing activity and interest in DOGE. The transfers could potentially indicate a shift in the market dynamics, with large players possibly moving their assets for various strategic reasons. However, without concrete information, these remain speculative assumptions.



The movement of such a large amount of DOGE also highlights the role of Robinhood as a significant player in the crypto trading space. The platform&#8217;s involvement in these transactions could have implications for its user base and the broader crypto market.



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<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42380572/dogecoins-whopping-60-9b-movement-in-24-hours-a-bullish-sign" target="_blank" rel="noreferrer noopener">Dogecoin's Whopping 60.9B Movement In 24 Hours: A Bullish Sign?</a>

Robinhood Moves 131 Million DOGE In An Hour: What's Happening?

The cryptocurrency sector is optimistic of what is to come with Donald Trump serving as the next president. Optimism comes as many cryptocurrencies have hit all-time highs since Trump won the <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41778425/bitcoins-all-time-high-a-groundbreaking-milestone-and-strong-post-election-rally-coming-ex">2024 presidential election.</a>



A new Benzinga reader poll predicts which cryptocurrency could have the best return early in Trump's presidency.



What Happened: Trump <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43065423/donald-trump-to-mention-bitcoin-or-crypto-at-the-inauguration-polymarket-traders-say-theres-a-chance">will be sworn in </a>as the next president of the United States on Monday, marking his second non-consecutive term as the leader of the country.



The stock market will be closed on Monday in honor of Martin Luther King Jr. Day, which is a federal holiday.



While investors won't be able to buy and sell stocks that could be mentioned individually or part of sectors that are highlighted during Trump's inauguration speech, the cryptocurrency market will be open.



"Which crypto will pump the most on Donald Trump's Inauguration Day?" Benzinga recently asked readers.



Here were the results:



<ul>
<li>XRP Token (CRYTO:XRP): 41%</li>



<li>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>): 35%</li>



<li>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>): 14%</li>



<li>None, Crypto Will Crash: 7%</li>



<li>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>): 4%</li>
</ul>



The winner of the poll was XRP Token, which is one of the top gaining cryptocurrencies over the last year. XRP, which is from Ripple Labs, has been in the spotlight a lot recently, including thanks to a <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42865935/trump-meets-top-ripple-executives-ceo-says-strong-start-to-2025-as-technicals-favor-xrp-bulls">visit by Ripple executives</a> to meet with Trump.



The poll saw only 7% of readers predict that cryptocurrency would crash on Monday, which could end up being the result of sell the news as cryptos trade higher ahead of Monday.



If Trump announces cryptocurrency related initiatives on Monday, the sector could see strength, but likewise cryptos could fall if he minimizes the sector in his speech.



Why It's Important: Benzinga readers have selected XRP and Bitcoin as winners in several polls, which won't make the latest results a huge surprise.



An early<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42378513/can-bitcoin-ethereum-dogecoin-shiba-inu-or-solana-beat-xrp-in-2025-poll-says-yes-one-coin-stands-out"> December 2024 poll </a>asked Benzinga readers if any of several hand-picked cryptocurrencies would outperform XRP in 2025.



The results were:



<ul>
<li>Bitcoin: 28%</li>



<li>Solana: 15%</li>



<li>Dogecoin: 13%</li>



<li>Ethereum: 10%</li>



<li>Shiba Inu: 10%</li>



<li>Hedera: 1%</li>



<li>None of the Above: 24%</li>
</ul>



Bitcoin won the poll with 28% of readers believing the leading cryptocurrency will outperform the other options in 2025.



Ranking second in the poll was None of the Above, which means 24% of readers think XRP will outperform the other six cryptocurrencies including Bitcoin in 2025.



Here are the current returns of the cryptocurrencies in the new poll:



<ul>
<li>XRP: 1-Month +32.0%, 1-Year +478.1%</li>



<li>BTC: 1-Month: -1.6%, 1-Year +145.3%</li>



<li>DOGE: 1-Month +3.5%, 1-Year +414.9%</li>



<li>SHIB: 1-Month -0.9%, 1-Year +155.1%</li>
</ul>



XRP and Dogecoin have already had huge one-year gains and XRP is up significantly over the last month, which could make any additional gains on Monday icing on the cake as more eyes are on the cryptocurrency sector in 2025.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/25/01/43059744/exclusive-can-sp-500-repeat-large-gains-from-donald-trumps-first-term-a-second-time-around-readers-say-this-return-range-most-likely">EXCLUSIVE: Can S&amp;P 500 Repeat Large Gains From Donald Trump&#8217;s First Term A Second Time Around? Readers Say This Return Range Most Likely</a></li>
</ul>



The study was conducted by Benzinga from Jan. 16, 2025 through Jan. 17, 2025. It included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 107 adults.

Exclusives

$SHIB

$XRP

EXCLUSIVE: Will Bitcoin, Dogecoin, Shiba Inu Or XRP Gain More On Trump's Inauguration Day? 41% Pick This Crypto

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