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Bowen Acquisition Corp

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General

Dingdong Has Authorized A Share Repurchase Program Of Up To $20M Over A Period Until March 5, 2026

Needham analyst James Ricchiuti maintains Stratasys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SSYS#NASDAQ">SSYS</a>) with a Buy and raises the price target from $12 to $13.

Price Target

Analyst Ratings

SSYS

Needham Maintains Buy on Stratasys, Raises Price Target to $13

HC Wainwright &amp; Co. analyst Yi Chen maintains BioLife Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLFS#NASDAQ">BLFS</a>) with a Buy and raises the price target from $27 to $30.

BLFS

HC Wainwright & Co. Maintains Buy on BioLife Solutions, Raises Price Target to $30

Needham analyst Laura Martin reiterates Nexxen International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEXN#NASDAQ">NEXN</a>) with a Buy and maintains $12 price target.

Reiteration

NEXN

Needham Reiterates Buy on Nexxen International, Maintains $12 Price Target

Contracts

RTX Enters Three Agreements With JetZero To Provide Key Systems For The Airframer's Full-scale Demonstrator

<a href="https://mingchikuo.craft.me/84AOn3Ll8Zah6f" title="https://mingchikuo.craft.me/84AOn3Ll8Zah6f">https://mingchikuo.craft.me/84AOn3Ll8Zah6f</a>

Tech

AAPL

Apple Analyst (Ming-Chi Kuo Wrote Earlier, Apple's First Foldable iPhone Is Expected To Retail Above $2,000 And $2,500, Will Be AI-driven

As the U.S. dollar witnessed its largest two-day decline in over two years, an economist argues the importance of devaluation for global growth while another expert explains the weakness to as a symptom and not a cause.
What Happened: The macro strategist at Crescat Capital, Otavio Costa highlighted the dollar&#8217;s largest two-day decline in over two years in his latest X post.
While he said that the dollar was the &#8220;most overvalued&#8221; concerning other fiat currencies, he reiterated that it &#8220;needs to be devalued to restore global growth.&#8221;
However, according to Aditya Sesh, the founder and managing director at Basiz Fund&nbsp;Services, the weakness in the dollar was a &#8220;symptom and not a cause.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Once again, almost unnoticed, we saw another substantial drop in the dollar. In fact, it was the largest two-day decline in over two years. The dollar remains one of the most overvalued in history relative to other fiat currencies, and in my view, it likely needs to be devalued… <a href="https://t.co/SJ8W2gQlsf">https://t.co/SJ8W2gQlsf</a>
&mdash; Otavio (Tavi) Costa (@TaviCosta) <a href="https://twitter.com/TaviCosta/status/1897457211993202752?ref_src=twsrc%5Etfw">March 6, 2025</a></blockquote>
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Other economists like Peter Schiff said that the plans to form a Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) strategic reserve in the U.S. could be a reason for &#8220;dollar&#8217;s demise,&#8221; saying that &#8220;ultimate winner will be gold.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If Bitcoin&#39;s success is predicated on the dollar&#39;s failure, if the U.S. is foolish enough to actually create a Bitcoin strategic reserve, this development will accelerate the dollar&#39;s demise, potentially benefiting Bitcoin in the short run. But the ultimate winner will be gold.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1897428815137153078?ref_src=twsrc%5Etfw">March 5, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/general/market-summary/25/03/44160509/starlinks-european-rival-up-over-600-since-trump-halted-ukraine-aid-now-plans-to-replace-e">Starlink&#8217;s European Rival, Up Over 600% Since Trump Halted Ukraine Aid, Now Plans To Replace Elon Musk&#8217;s Satellite Internet Service In War-Torn Nation</a>
Why It Matters: Sesh said that &#8220;it is not surprising that the USD can come under pressure at various points in time,&#8221; while highlighting the following developments as the &#8220;symptoms&#8221;.
<ul>
<li>Correction After A Period Of Strength: According to Sesh, the dollar&#8217;s recent strong performance against other major currencies makes it susceptible to a natural market correction.</li>
</ul>
<ul>
<li>Fiscal Implications: A &#8220;review of public finance in the U.S.,&#8221; including cleaning up USAID and the spending cuts by the Department of Government Efficiency, &#8220;is a long time, arduous task&#8221;.</li>
</ul>
<ul>
<li>Economic Slowdown Signals: Sesh also highlights economic weakness hampering the USD. According to him, declining indicators like the ISM Purchasing Managers Index, particularly the drop in new orders, suggest a potential slowdown in US manufacturing.</li>
</ul>
<ul>
<li>Geopolitical And Infrastructure Burdens: Finally, the dollar&#8217;s reserve currency status, along with the need to renovate aging infrastructure, creates substantial financial obligations that can place downward pressure on the currency, according to Sesh.</li>
</ul>
Price Action: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, fell in premarket on Thursday. SPY decline 0.87% to $577.96&nbsp;and QQQ was down 1.10% to $496.48, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
On Wednesday, the SPY declined 1.07% to $583.06, and the QQQ rose 1.30% to $502.01.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/03/44159401/rigetti-claims-leadership-in-quantum-computing-race-aims-to-scale-to-100-qubits-as-it-look">Rigetti Claims &#8216;Leadership&#8217; In Quantum Computing Race, Aims To Scale To 100 Qubits As It Looks To Catch Up With IBM, Google</a></li>
</ul>
Photo courtesy: Shutterstock

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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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ETFs

$BTC

US Dollar Weakness A 'Symptom Not Cause,' Argues Expert As Economist Hails Devaluation To 'Restore Global Growth'

Canadian Natural Res (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNQ#NYSE">CNQ</a>) reported quarterly earnings of $0.94 per share which beat the analyst consensus estimate of $0.93 by 1.08 percent. This is a 9.3 percent increase over earnings of $0.86 per share from the same period last year.

Earnings

Earnings Beats

Canadian Natural Res Q4 2024 Adj EPS $0.94 Beats $0.93 Estimate

ProFrac Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACDC#NASDAQ">ACDC</a>) reported quarterly sales of $454.70 million which missed the analyst consensus estimate of $479.26 million by 5.13 percent. This is a 7.03 percent decrease over sales of $489.10 million the same period last year.

Earnings Misses

ACDC

ProFrac Holding Q4 Sales $454.70M Miss $479.26M Estimate, Net loss $100M Compared To Net Loss Of $44M YoY

ECARX Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ECX#NASDAQ">ECX</a>) ("ECARX" or the "Company"), a global mobility technology provider, today announced an award by the Volkswagen Group to provide advanced digital cockpit solutions for vehicles sold globally under the Volkswagen and Skoda brands.
ECARX will provide a complete digital cockpit solution, including the integrated hardware and software of the ECARX Antora&#xAE; 1000 computing platform and ECARX Cloudpeak&#xAE; software architecture.
A significant number of cars will be launched with a user experience defined by Volkswagen Group and ECARX. Initial launches are planned in Brazil and India, with further markets for growth potential.
Antora&#xAE; 1000 is ECARX's fourth-generation digital cockpit computing platform, based on a 7nm high-performance SE1000 System-on-Chip (SoC) from SiEngine.
ECARX Cloudpeak&#xAE;, a flexible and modular platform based on the Android Automotive operating system and Linux, is able to integrate services including Google Maps, Google Assistant voice control and the Google Play store, along with mobile integrations including Android Auto and Apple CarPlay, along with other regional mobile ecosystems and services.
The computing platform's operating system and the ECARX Cloudpeak&#xAE; software stack are developed entirely in-house by ECARX, to deliver a compact, affordable and energy-efficient system able to support a high-quality user experience based on Android OS and supporting Google Automotive Services, with further services and details to be announced.
The combination of ECARX computing platform and architecture will power the intelligent cockpit of Skoda and Volkswagen-branded vehicles.

VWAGY

ECARX Wins Volkswagen Deal to Power Digital Cockpits in Skoda and VW Cars Globally

Biotech

Health Care

DNLI

On Wednesday, Denali Therapeutics Discontinued The Active Treatment Extension In Regimen G Of The Phase 2/3 HEALEY ALS Platform Trial Of eIF2B agonist DNL343 For Amyotrophic Lateral Sclerosis-8K

HUTCHMED (China) Limited ("<a href="https://www.globenewswire.com/Tracker?data=ycS5bfwHqeeTsrpust60oGqZK1WeHdYyQMcHuxCjDWy4M2_9qv_0qtluJNzPp9vLQfVNiUYCVFW-pIZF-Ib2wg==">HUTCHMED</a>") (Nasdaq/AIM:​HCM; HKEX:​13) today announces that it has completed enrollment of its a Phase II trial of fanregratinib (HMPL-453) for intrahepatic cholangiocarcinoma ("IHCC") patients with fibroblast growth factor receptor ("FGFR")2 fusion/rearrangement.&nbsp;
The study is a single-arm, multi-center, open-label, Phase II registration study to evaluate the efficacy, safety and pharmacokinetic of fanregratinib in treating advanced IHCC patients with FGFR2 fusion/rearrangement. Primary endpoint is objective response rate (ORR). Secondary endpoints include progression-free survival (PFS), disease control rate (DCR), duration of response (DoR) and overall survival (OS). A total of 87 patients were enrolled into the registration phase of the study. Additional details may be found at clinicaltrials.gov using identifier&nbsp;<a href="https://www.globenewswire.com/Tracker?data=7t73H6gqnzdTPV6m-XAeO7Yd1vbZD8DULUeMNDfhUoCt5RrzZM4VcmhTqx9Zbf1Pab7aslXGeY2AdU7yHN9cjYF7BkLu0sTm7lsG_3yoMvJhwwpCqv9xH7i3reggDfGY">NCT04353375</a>.
The first patient received the first dose in March 2023 and HUTCHMED expects to announce topline results from the study around the end of 2025. If favorable, the results could enable a New Drug Application submission to China's National Medical Products Administration (NMPA).

HUTCHMED Completes Enrollment for Phase II Trial of Fanregratinib in Liver Cancer Patients

EV giant Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is reportedly looking to put up a third megafactory in Texas after starting production at its Shanghai facility in February.
What Happened: Tesla will operate the facility out of two buildings at the Empire West Industrial Park near Houston, Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-03-06/tesla-gets-tax-sweetener-for-houston-area-megapack-factory?srnd=all&amp;sref=vEQJzSks">reported</a>, citing a tax abatement agreement. 
A megafactory is a Tesla facility dedicated to the production of Megapacks. 
Megapack is a powerful battery manufactured by the company for large-scale energy storage.&nbsp;Each unit can store over 3.9 Megawatt-hours of energy, which is enough to power an average of 3,600 homes for an hour.
Production at the&nbsp;<a href="https://www.benzinga.com/24/12/42680075/tesla-exec-says-we-will-be-ready-to-efficiently-produce-autonomous-vehicles-as-shanghai-megafactory-nears-completion" target="_blank" rel="noreferrer noopener">Shanghai megafactory</a>, the company's first factory dedicated to the production of energy storage products outside the U.S., started in February.&nbsp;Currently, Tesla has only one other factory dedicated to manufacturing megapacks, located in Lathrop, California. The Lathrop facility has the capability of producing 40 GWh of energy storage products every year.
The company&#8217;s gigafactory in Nevada can also manufacture energy storage products, in addition to vehicle powertrains and batteries. 
Why It Matters: Tesla reported revenue of over $3 billion from its energy generation and storage segment in the fourth quarter of 2024, or more than double the $1.44 billion reported in the corresponding quarter of 2023, upon deploying a record <a href="https://www.benzinga.com/25/01/42780335/teslas-evergy-storage-deployements-rise-in-q4-even-as-vehicle-deliveries-disappoint" target="_blank" rel="noreferrer noopener">11.0 GWh of energy storage products</a>.
Revenue from the energy segment accounted for about 12% of the company's total revenue in the quarter, while the automotive segment accounted for 77%. The company reported quarterly&nbsp;<a href="https://www.benzinga.com/news/earnings/25/01/43321103/tesla-q4-earnings-highlights-revenue-miss-eps-miss-ev-updates-automaker-says-2025-will-be-a-seminal-year" target="_blank" rel="noreferrer noopener">total revenue</a>&nbsp;of $25.71 billion, missing a street consensus estimate of $27.26 billion, owing to an 8% drop in automotive revenue.
Tesla continues to be&nbsp;<a href="https://www.benzinga.com/news/24/10/41537560/teslas-energy-segment-boom-in-q3-sparks-leadership-changes-veteran-mike-snyder-promoted-as-vp" target="_blank" rel="noreferrer noopener">hopeful for its energy segment</a>&nbsp;for it said in January that it expects energy storage deployment to grow at least 50% year-over-year in 2025. Both the powerwall and megapack continue to be supply-constrained as it opens to new markets, the company added.
Tesla CEO Elon Musk said during the company&#8217;s fourth-quarter earnings call that the company is putting up a third megapack facility. The CEO, however, did not reveal the location of the factory then. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/03/44101333/fords-mustang-mach-e-leads-companys-us-ev-sales-in-feb-but-trump-tariffs-threaten-future" target="_blank" rel="noreferrer noopener">Ford's Mustang Mach-E Leads Company's US EV Sales In Feb But Trump Tariffs Threaten Future</a></li>
</ul>
Photo courtesy: Shutterstock

TSLA

Elon Musk's Tesla To Build 3rd Megafactory In Texas After Kicking Off Production In Shanghai: Report

Dingdong (Cayman) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DDL#NYSE">DDL</a>) reported quarterly earnings of $0.08 per share. This is a 700 percent increase over earnings of $0.01 per share from the same period last year. The company reported quarterly sales of $808.99 million. This is a 15.02 percent increase over sales of $703.31 million the same period last year.

Dingdong (Cayman) Reported Q4 Adj EPADS $0.08 and Sales $808.99M

Chris Wright, the U.S. Secretary of Energy, has granted an extension for the export permit of the Golden Pass LNG project. This project is a collaborative effort between&nbsp;QatarEnergy&nbsp;and&nbsp;ExxonMobil&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and is currently under construction in Sabine Pass, Texas.
What Happened: The Department of Energy announced that the extension will provide additional time for the launch of LNG exports to major markets in Asia and Europe from the $10 billion project. The new deadline for the start of exports has been pushed back from Sept. 30, 2025, to March 31, 2027.
The Golden Pass project, expected to begin LNG production in late 2025, will become the ninth-largest export terminal&nbsp;in the U.S. once it&#8217;s operational. QatarEnergy has a 70% stake in the joint venture, with ExxonMobil holding the remaining 30%.
Tala Goudarzi, an official from the department&#8217;s&nbsp;fossil energy and carbon management&nbsp;division, shared that the Golden&nbsp;Pass was the first project authorized by the DOE for exports to countries without a free trade agreement during the initial Trump administration.
The project developers requested an extension in August due to a shift in main contractors&nbsp;and the need for contingency time due to uncertainties in a project of this scale. The DOE stated that upon completion,&nbsp;Golden Pass will be capable of exporting up to&nbsp;2.57 billion cubic feet of LNG per day. 
SEE ALSO: <a href="https://www.benzinga.com/news/25/03/44153281/no-chick-fil-a-on-sundays-heres-where-fast-food-fans-flock-instead">No Chick-fil-A On Sundays? Here&#8217;s Where Fast-Food Fans Flock Instead</a>
Why It Matters: The U.S. is the largest exporter of LNG in the world. On that note, Secretary Wright stated, "Exporting U.S. LNG supports American jobs, bolsters our national security and strengthens America's position as a world energy leader.&#8221;
The Trump administration is resuming approvals for LNG exports after former President Joe Biden temporarily halted them to assess the economic and environmental impacts of the rapidly growing industry.
This extension comes at a time when ExxonMobil&#8217;s shares have been under pressure. On Wednesday, ExxonMobil&#8217;s shares fell to <a href="https://www.benzinga.com/news/25/03/44150023/why-exxon-mobil-xom-stock-hit-a-new-52-week-low-today">a new 52-week low</a>, largely due to a drop in oil prices following a rise in U.S. inventories and OPEC+&#8217;s decision to proceed with its planned April wind-down of production cuts. 
The extended permit for the Golden Pass project could potentially provide a much-needed boost to ExxonMobil&#8217;s operations. 
<ul>
<li>READ MORE: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44143660/howard-lutnick-says-president-definitely-thinks-theres-a-bitcoin-strategic-reserve">Howard Lutnick Says &#8216;President Definitely Thinks There&#8217;s A Bitcoin Strategic Reserve&#8217;</a></li>
</ul>

ExxonMobil And QatarEnergy's Golden Pass LNG Project Gets Extended Export Permit From US Energy Department

Deutsche Lufthansa (OTC:<a class="ticker" href="https://www.benzinga.com/stock/DLAKY#OTC">DLAKY</a>) reported quarterly earnings of $0.49 per share. This is a 716.67 percent increase over earnings of $0.06 per share from the same period last year. The company reported quarterly sales of $10.08 billion. This is a 6.88 percent increase over sales of $9.43 billion the same period last year.

DLAKY

Deutsche Lufthansa Q4 EPS $0.49 and Sales $10.08B

French satellite operator Eutelsat Communications S.A. has risen over 630% since Monday, following President Donald Trump&#8216;s announcement of a freeze in Ukraine&#8217;s military aid.
What Happened: Eutelsat&#8217;s surge comes as the French company is in talks with the European Union to replace SpaceX&#8217;s Starlink satellite service in Ukraine, according to <a href="https://in.investing.com/news/stock-market-news/eutelsat-in-talks-with-eu-to-replace-starlink-in-ukraine-93CH-4705787">a</a> report by Investing.com.
CEO Eva Berneke told Bloomberg TV on Thursday that the company was looking into the requests of replacing several Starlink terminals in Ukraine. While the company already has a presence in Ukraine, Berneke said that it would take a few months to replace around 40,000 Starlink terminals.
Elon Musk owned SpaceX makes Starlink, which is a satellite internet service that delivers high-speed, low-latency broadband globally, especially to remote areas underserved by traditional internet providers.
President Trump on Monday temporarily suspended U.S. military aid to Ukraine to pressure Ukrainian President Volodymyr Zelenskyy into peace negotiations with Russia. According to the White House, the freeze will remain in place until Trump determines that Ukraine has made a meaningful effort toward diplomatic talks with Moscow.
See Also: <a href="https://www.benzinga.com/25/03/44138112/defense-stocks-take-centerstage-as-donald-trump-freezes-ukraine-military-aid-heres-a-list-of-top-global-defense-etfs-to-watch">Defense Stocks In Focus As Trump Freezes Ukraine Military Aid: Here&#8217;s A List Of Top Global Defense ETFs To Watch</a>
Why It Matters: Eutelsat&#8217;s shares have surged 631.1% from €1.19 or $1.29 on Friday, Feb. 28, to €8.7 or $9.40 intraday on Thursday.
Investor <a href="https://www.benzinga.com/25/03/44138112/defense-stocks-take-centerstage-as-donald-trump-freezes-ukraine-military-aid-heres-a-list-of-top-global-defense-etfs-to-watch">interest in defense stocks</a> has increased after Trump&#8217;s announcements in anticipation of increased demand for their products and services as European nations are rallying to support Ukraine.
British Prime Minister Keir Starmer has pledged a £2.26 billion loan for military supplies. Meanwhile, Germany&#8217;s prospective coalition government is planning to create a €500 billion or $540.532 billion infrastructure fund to modernize the military and boost economic growth, reported Reuters.
Price Action: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, fell in premarket on Thursday. SPY decline 0.68% to $579.10&nbsp;and QQQ was down 0.84% to $497.79, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
On Wednesday, the SPY advanced 1.07% to $583.06, and the QQQ rose 1.30% to $502.01.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/03/44135177/trump-seeks-to-end-chips-act-who-stands-to-lose-heres-a-list-of-beneficiaries-that-could-be-affected" target="_blank" rel="noreferrer noopener">Trump Seeks To End CHIPS Act: Who Stands To Lose? Here's A List Of Beneficiaries That Could Be Affected</a></li>
</ul>
Photo courtesy: Shutterstock

Starlink's European Rival, Up Over 600% Since Trump Halted Ukraine Aid, Now Plans To Replace Elon Musk's Satellite Internet Service In War-Torn Nation

Dividend Payment
The Company announced that its board of directors (the "Board") approved an annual cash dividend for the year ended December 31, 2024 of US$0.5 per ordinary share, or US$1.0 per ADS, to holders of ordinary shares and holders of ADSs, respectively, as of the close of business on April 8, 2025 Beijing/Hong Kong Time and New York Time, respectively, payable in U.S. dollars. The aggregate amount of the dividend is expected to be approximately US$1.5 billion, as calculated on the current number of the Company's total issued and outstanding shares, which may be subject to minor adjustment by the record date. The payment date is expected to be on or around April 23, 2025 and on or around April 29, 2025 for holders of ordinary shares and holders of ADSs, respectively.

Dividends

JD.com Approved Annual Cash Dividend Of $1.00 Per ADS

JD.com Q4 Adj EPADS $1.02 Beats $0.90 Estimate, Sales $47.54B Beat $45.96B Estimate

Anatoly Yakovenko, the co-founder of the Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) ecosystem, argued against a federal government-controlled cryptocurrency reserve Wednesday, citing a threat to decentralization.
What Happened: In an X post, Yakovenko outlined his order of preference for a potential cryptocurrency reserve.
&#8220;No reserve, because if you&nbsp;want decentralization to fail, you'd&nbsp;put the government in charge&nbsp;of it,&#8221; he stated as his first and the most ideal choice.
However, if reserves must be set up, Yakovenko said they should be managed by states as a &#8220;hedge&#8221; against the Federal Reserve making a mistake.
In the case of a federally administered reserve, Yakovenko proposed basing it on &#8220;objectively measurable requirements.&#8221; 
&#8220;I don't care what they are, they can even be constructed such that only Bitcoin satisfies them right now, they just must be objectively measurable and rationally justified,&#8221; he explained his point.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">My reserve order of preference 1. No reserve, because if you want decentralization to fail you'd put the government in charge of it. 2. Or states run their own reserve as a hedge against the fed making a mistake 3. Or if there has to be a reserve, it's based on objectively… <a href="https://t.co/LfYXCIeRnG">https://t.co/LfYXCIeRnG</a>
&mdash; toly &#x1f1fa;&#x1f1f8; (@aeyakovenko) <a href="https://twitter.com/aeyakovenko/status/1897517764119830775?ref_src=twsrc%5Etfw">March 6, 2025</a></blockquote>
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When questioned if this was an indirect confirmation that no one from Solana pitched SOL for inclusion in the recently announced U.S. cryptocurrency reserve, Yakovenko stated, &#8220;No one asked me, and I didn&#8217;t pitch it.&#8221;
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/03/44159088/microsoft-might-have-given-bitcoin-investments-a-miss-for-now-but-one-of-its-largest-investors-has-been-an-avid-advocate-of-cryptos-blockchains">Microsoft May Have Given Bitcoin Investments A Miss But A Large MSFT Stock Holder Is A Strong Crypto, Blockchain Advocate</a>
Why It Matters: Yakovenko&#8217;s comments come in the wake of the surprise announcement of a strategic reserve comprising of top coins such as Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>), and SOL. 
The idea of including coins other than Bitcoin has sparked criticism from certain quarters, including some of President Donald Trump&#8217;s <a href="https://www.benzinga.com/25/03/44107003/trump-faces-backlash-over-crypto-reserve-plan-from-bitcoin-supporters-including-his-own-dont-think-the-government-should-be-pumping-our-crypto-bags-with-taxpayer-money">supporters</a>. Coinbase CEO Brian Armstrong also <a href="https://in.benzinga.com/25/03/44070857/coinbase-ceo-brian-armstrong-thinks-having-a-bitcoin-only-crypto-reserve-best-option-while-arthur-hayes">stated </a>that having just Bitcoin in the reserve would be the &#8220;best option.&#8221;
That said, Commerce Secretary Howard Lutnick <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44143660/howard-lutnick-says-president-definitely-thinks-theres-a-bitcoin-strategic-reserve">hinted </a>that Bitcoin might be granted a special status in the proposed reserve, while other tokens would be treated differently but positively.
All eyes will be on Friday&#8217;s <a href="https://www.benzinga.com/25/03/44064928/trump-to-host-first-ever-white-house-crypto-summit-next-friday-btc-surges-past-85000-doge-surges-over-10" target="_blank" rel="noreferrer noopener">White House crypto summit</a> to get a more comprehensive understanding of the reserve.
Price Action: At the time of writing, SOL was exchanging hands at $6.23, up 13.61% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/25/03/44157760/peter-schiff-predicts-a-bitcoin-strategic-reserve-will-accelerate-dollars-demise-the-ultimate-winner-will-be-gold">Peter Schiff Predicts A Bitcoin Strategic Reserve Will &#8216;Accelerate&#8217; Dollar&#8217;s Demise: &#8216;Ultimate Winner Will Be Gold&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

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