President-elect Donald Trump&#8217;s official meme coin plunged sharply Sunday evening, coinciding with the launch of another token launched by Melania Trump. 



What happened: The OFFICIAL TRUMP token crashed nearly 36% from $73 to $46 late Sunday evening, wiping out nearly $5 billion worth of market capitalization, <a href="https://dexscreener.com/solana/9dirurpjnanzhn6ts5hglouhtjrt1jgspbxnycrfz2ad">according </a>to data from DEX Screener. The dump followed the launch of a similar token by the incoming first lady, Melania Trump.



Melania Trump shared a link to the official website of the meme coin MELANIA in her X post, with a caption, "The Official Melania Meme is live!" Donald Trump has reshared the post.



<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 Official Melania Meme is live! You can buy $MELANIA now.  <a href="https://t.co/8FXvlMBhVf">https://t.co/8FXvlMBhVf</a> FUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P <a href="https://t.co/t2vYiahRn6">pic.twitter.com/t2vYiahRn6</a>&mdash; MELANIA TRUMP (@MELANIATRUMP) <a href="https://twitter.com/MELANIATRUMP/status/1881094861279129643?ref_src=twsrc%5Etfw">January 19, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The coin, which was themed around the incoming first lady, was launched on Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), much like the <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43076559/donald-trumps-meme-coin-trump-rallies-103-in-a-day-creates-billions-out-of-thin-air">token's launch tied to her husband</a> a couple of days ago.



The meme coin's website issued a disclaimer, stating, "Melania Memes are intended for collecting and entertainment purposes only. They are not financial instruments or investments."



MELANIA token has <a href="https://dexscreener.com/solana/9dirurpjnanzhn6ts5hglouhtjrt1jgspbxnycrfz2ad">jumped</a> over 21,000% in the last 24 hours to a market capitalization of $11.39 billion and generating approximately $383 million in liquidity in just four hours.



Popular cryptocurrency analyst Ali Martinez revealed that he shorted the OFFICIAL TRUMP token and that it was &#8220;going well.&#8221; Earlier he announced selling all of his TRUMP tokens.



<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">My <a href="https://twitter.com/search?q=%24TRUMP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TRUMP</a> short is going very, very well! <a href="https://t.co/n7FH2Ce9um">https://t.co/n7FH2Ce9um</a> <a href="https://t.co/kEv9QXuaFN">pic.twitter.com/kEv9QXuaFN</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1881092494680879112?ref_src=twsrc%5Etfw">January 19, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Another widely-followed cryptocurrency investor, Altcoin Gordon, disclosed opening a $500,000 short on the token. 



&#8220;Liquidation is $90 If it hits $55, I will make $2.7 million. I am ready for the sell-off,&#8221; the trader revealed their strategy.



<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 just opened a $500K short on Trump coin Liquidation is $90 If it hits $55 I will make $2.7M. I am ready for the sell off. You think I will win? <a href="https://t.co/uRNU5yMP4H">pic.twitter.com/uRNU5yMP4H</a>&mdash; Gordon (@AltcoinGordon) <a href="https://twitter.com/AltcoinGordon/status/1880962042993299522?ref_src=twsrc%5Etfw">January 19, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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/government/regulations/25/01/42994641/italys-largest-bank-leaps-into-bitcoin-trading-with-1-million-test-investment-but-ceo-says-he-doesnt-invest-in-btc-personally">Italy&#8217;s Largest Bank Leaps Into Bitcoin Trading With $1 Million &#8216;Test&#8217; Investment But CEO Says He Doesn&#8217;t Invest In BTC Personally</a>



Why It Matters: The launch of OFFICIAL TRUMP created a stir in the cryptocurrency space, as its fully diluted valuation reached a whopping $74 billion at one time.



Reports <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43076559/donald-trumps-meme-coin-trump-rallies-103-in-a-day-creates-billions-out-of-thin-air">suggested </a>that&nbsp; 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, fueling speculation of an increase in Trump&#8217;s fortune as a result of the meme coin.



<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"><a href="https://twitter.com/search?q=%24TRUMP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TRUMP</a>&#39;s meme coin just traded at $74. The total Supply is 1B, and 200M is in circulation. Total mktcap is $74B. Trump&#39;s paper profit is ~$60B (80% of which is not in circulation). Does this make him the greatest crypto billionaire in history? And it took just 36 hours!… <a href="https://t.co/v52wgtv9On">pic.twitter.com/v52wgtv9On</a>&mdash; Jim Bianco (@biancoresearch) <a href="https://twitter.com/biancoresearch/status/1881001234838016370?ref_src=twsrc%5Etfw">January 19, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



However, naysayers didn't hold back. Anthony Scaramucci, a prominent cryptocurrency advocate and former White House Communications Director, <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43076714/scaramucci-criticizes-donald-trumps-meme-coin-launch-idi-amin-level-corruption">labeled the launch</a> as "Idi Amin-level corruption."



Donald Trump was all set to take the presidential oath on Monday. He has confirmed that his inaugural address will take place indoors in the Capitol Rotunda due to dangerously cold weather in Washington, D.C.



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/25/01/42993521/michael-saylors-microstrategy-not-alone-in-bitcoin-acquisition-says-bitwise-chief-investment-officer-its-a-bona-fide-megatrend">Michael Saylor&#8217;s MicroStrategy Not Alone In Bitcoin Acquisition, Says Bitwise Chief Investment Officer: &#8216;It&#8217;s A Bona Fide Megatrend&#8217;</a></li>
</ul>

Cryptocurrency

News

Politics

Markets

$SOL

Trump Coin Tanks 36%, Even As Melania Trump Launches Her Own Token: Top Analyst Says His Short Is 'Going Very, Very Well'

Vivek Ramaswamy, co-leader of President-elect Donald Trump&#8216;s Department of Government Efficiency, is expected to step down from his position, potentially complicating the administration&#8217;s ambitious federal spending reduction goals. 



What Happened: Ramaswamy, 39, plans to pursue a campaign for Ohio governor by month&#8217;s end, <a href="https://www.cbsnews.com/news/vivek-ramaswamy-expected-to-depart-doge/">reported</a> CBS News citing multiple sources. The departure comes as Ramaswamy&#8217;s DOGE co-leader, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk, recently scaled back expectations for budget cuts from $2 trillion to a more <a href="https://www.benzinga.com/startups/25/01/43046108/musks-doge-ambitions-shrink-why-2-trillion-budget-cuts-may-be-out-of-reach">modest $1 trillion target</a>.



During a recent interview on X, Musk characterized even this reduced goal as an &#8220;epic outcome&#8221; if achieved.



The leadership shake-up has caught Wall Street&#8217;s attention, though analysts remain optimistic about its impact on the defense sector. 



Truist Securities analyst Michael Ciarmoli initiated coverage of 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, describing DOGE-related concerns as &#8220;overblown&#8221; given the <a href="https://www.benzinga.com/analyst-ratings/initiation/25/01/43010706/doge-fears-for-defense-contractors-lockheed-martin-northrop-grumman-overblown-analyst-says">advisory nature of the department</a>.



Ramaswamy did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.



See Also: <a href="https://www.benzinga.com/25/01/43076609/tiktok-back-online-in-us-after-trump-vows-monday-executive-order">TikTok Back Online In US After Trump Vows Monday Executive Order</a>



Why It Matters: According to the report, internal dynamics are growing friction between Ramaswamy and incoming DOGE staff, with associates of Musk privately expressing frustration over Ramaswamy&#8217;s limited participation in key initiatives.



The department, while not a full federal agency, is tasked with advising on bureaucracy reduction and federal spending cuts, with a mandate to <a href="https://www.benzinga.com/news/global/24/11/41927289/trump-appoints-elon-musk-and-vivek-ramaswamy-to-lead-doge-targeting-bureaucracy-and-65-trillion-federal-spending-we-will-not-go-gently">complete its work by July 2026</a>.



Market observers note that previous attempts at significant federal spending reductions have faced congressional resistance, with even modest proposals struggling to gain traction. 



Read Next: 



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<li><a href="https://www.benzinga.com/25/01/43077969/bernie-sanders-slams-elon-musks-vision-of-super-high-iq-aristocracy-who-are-going-to-be-running-the-world-for-us">Bernie Sanders Slams Elon Musk&#8217;s Vision Of &#8216;Super High IQ&#8217; Aristocracy Who Are &#8216;Going To Be Running The World For Us&#8217;</a></li>
</ul>



Image Via Shutterstock 



Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Government

TSLA

Elon Musk's DOGE Co-Lead Vivek Ramaswamy Expected To Exit Trump Admin Task Force Amid Ohio Governorship Bid

Jeff Bezos-backed Perplexity reportedly bid to merge with TikTok U.S. on Saturday, but Wedbush analyst Dan Ives hinted Elon Musk&#8217;s X could ultimately <a 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">seal the deal</a> amid rising speculation.



What Happened: On Saturday, Perplexity submitted a bid to ByteDance, TikTok&#8217;s Chinese parent company, to form a new entity that includes Perplexity, TikTok U.S., and new capital partners, <a href="https://www.cnbc.com/2025/01/18/perplexity-ai-makes-a-bid-to-merge-with-tiktok-us.html">reported</a> CNBC, citing sources familiar with the matter.



The proposed merger would allow most of ByteDance&#8217;s current investors to maintain their equity stakes while improving Perplexity&#8217;s video capabilities.



See Also: <a href="https://www.benzinga.com/tech/25/01/43051084/mrbeast-unveils-mystery-box-giveaway-to-celebrate-beast-games-episode-6-release-on-amazon-prime-video">MrBeast Unveils Mystery Box Giveaway To Celebrate Beast Games Episode 6 Release On Amazon Prime Video</a>



The source estimates the deal&#8217;s value to exceed $50 billion, contingent on ByteDance&#8217;s shareholders&#8217; decisions to stay or cash out.



Perplexity, <a href="https://www.benzinga.com/news/24/03/37421021/this-jeff-bezos-backed-ai-tool-can-replace-search-engine-for-many-people-says-top-ex-googler-but-the">a startup challenging</a> Alphabet Inc.‘s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google, saw its <a href="https://www.benzinga.com/tech/24/12/42570376/jeff-bezos-backed-perplexity-raises-500-million-tripling-its-valuation-to-9-billion-as-competition-with-google-and-openai-heats-up">valuation soar from $500 million to $9 billion</a> last year.



Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.



Why It Matters: Previously, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk was considered a potential buyer, though <a 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">concerns were raised</a> about the impact on the EV giant.



TikTok, which went dark for some time later Saturday started restorning its services on Sunday. Donald Trump &#8220;most likely&#8221; plans to extend TikTok&#8217;s deadline by 90 days to facilitate a deal.



<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/19214002/Screenshot-2025-01-20-at-8.09.56%E2%80%AFAM-926x1024.png" alt="" class="wp-image-740667"/><figcaption class="wp-element-caption">Source: Truth Social</figcaption></figure>



Musk also took to X, formerly Twitter, and highlighted that while his social media app is not allowed to operate in China, banning TikTok in the U.S. would be &#8220;against freedom of speech.&#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">I have been against a TikTok ban for a long time, because it goes against freedom of speech. That said, the current situation where TikTok is allowed to operate in America, but &#120143; is not allowed to operate in China is unbalanced. Something needs to change. <a href="https://t.co/YVu2hkZEVZ">https://t.co/YVu2hkZEVZ</a>&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1880975630646612254?ref_src=twsrc%5Etfw">January 19, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Before Trump&#8217;s statement about potentially extending TikTok&#8217;s deadline, Ives took to X and predicted that the 90-day window would be used to work on a deal with U.S. tech players, with Musk&#8217;s X being a likely candidate.



<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">Biden Admin never issued the statement…so TikTok went dark for 170 mm users. We believe Trump turns it back on with an Executive Order on Monday once he is sworn in as US President. Then 90 days to work on buyer/partnership with US tech player likely being Musk/X in our view <a href="https://t.co/O2UdLOCMIO">https://t.co/O2UdLOCMIO</a>&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1880874865269547354?ref_src=twsrc%5Etfw">January 19, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



ByteDance has previously suggested it will not sell TikTok U.S.



Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.



Read Next:



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<li><a href="https://www.benzinga.com/tech/24/12/42715441/openais-for-profit-transition-trumps-ai-advisor-and-googles-code-red-this-week-in-ai?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">OpenAI&#8217;s For-Profit Transition, Trump&#8217;s AI Advisor, And Google&#8217;s Code Red: This Week In AI</a></li>
</ul>



Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Social Media

Tech

Media

GOOG

GOOGL

Jeff Bezos-Backed Perplexity Reportedly Makes $50 Billion Move To Merge With TikTok, But Elon Musk's X Remains This Analyst's Favorite Bidder

<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>



Image created with a photo from Shutterstock.

Cannabis

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.

TikTok Back Online In US After Trump Vows Monday Executive Order

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>



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</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 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 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>



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</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>



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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>



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

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?

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

$DOGE

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

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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

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

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