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Economist and staunch Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) critic Peter Schiff recently expressed concerns over ETF investors being set up to bear the brunt of losses.
What Happened: On Sunday, Schiff took to X to share his observations on the current trading patterns and ETF inflows of Bitcoin. He suggested that while the &#8220;smart money&#8221; is selling Bitcoin in the spot market, the &#8220;dumb money&#8221; is buying it through ETFs. 
In what looked like a cheeky remark, Schiff congratulated the Bitcoin whales for setting ETF investors to be the bag holders, a financial slang used for those who hold on to poorly performing assets.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Based on the trading patters and ETF inflows, it looks like the smart money is selling <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> in the spot market while the dumb money is buying it through ETFs. Congratulations to the Bitcoin whales for pulling this off. They set up <a href="https://twitter.com/hashtag/BitcoinETF?src=hash&amp;ref_src=twsrc%5Etfw">#BitcoinETF</a> investors to be the bag holders.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1810015650191970392?ref_src=twsrc%5Etfw">July 7, 2024</a></blockquote>
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Schiff&#8217;s post comes in the wake of Bitcoin&#8217;s ongoing stress, compounded by potential sell-offs of billions worth of King Cryoto from Tokyo-based cryptocurrency exchange Mt. Gox.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39656389/crypto-weekend-round-up-kiyosaki-forecasts-crash-crypto-bettors-back-harris-trumps-potenti?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Crypto Weekend Round-Up: Kiyosaki Forecasts Crash, Crypto Bettors Back Harris, Trump&#8217;s Potential Impact On Crypto And More</a>
Why It Matters: Schiff stated last week that <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39655101/peter-schiff-says-bitcoin-etf-buyers-hodling-amid-king-cryptos-plunge-but-warns-muc">70% of those who bought spot Bitcoin ETFs are losing money when Bitcoin trades at the $54,000 level.</a> He suggested that a decline below $38,000 will push &#8220;100% of Bitcoin ETF buyers&#8221; into the red. Schiff expects the real selling to start at this point, with most cryptocurrency ETF speculators likely to capitulate.
Despite recording one of the biggest market crashes, the 11 U.S.-listed spot Bitcoin ETFs recorded net outflows of $143 million last Friday.
Schiff&#8217;s has been vocal about his belief that the cryptocurrency&#8217;s bear market is far from over, <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39639419/amid-bitcoin-crash-peter-schiff-forecasts-prolonged-bear-market-dont-say-i-didnt-warn-you-">predicting further downsides for the world&#8217;s largest cryptocurrency, Bitcoin.</a>
Price Action: At the time of writing, Bitcoin was exchanging hands at $54,694.25, down 5,64% 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>.
Photo Courtesy: Wikimedia Commons
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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.

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

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$BTC

Peter Schiff Says 'Smart Money Is Selling' And Dumb Money Is Buying It Through ETFs: 'They Set Up Bitcoin ETF Investors To Be The Bag Holders'

Amid a <a href="https://www.benzinga.com/news/24/07/39657018/tesla-and-reddit-were-among-12-large-cap-stocks-with-strongest-performance-in-the-last-week-june-30">remarkable 8-day winning streak</a> for Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), a prominent investor predicts the possibility of the streak extending to 9 days.
What Happened: Gary Black, Managing Partner at The Future Fund, took to social media platform, X to express his thoughts on the recent surge in Tesla&#8217;s stock. 
Black highlighted the company&#8217;s impressive performance over the past 8 days, with a 36% increase compared to the Nasdaq 100&#8217;s 4% rise. He also noted that all of the &#8220;Magnificent 7&#8221; stocks, including Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Alphabet Inc (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>), Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), have seen positive growth during this period.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It's hard to predict whether <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> can make it 9 consecutive up days tomorrow. During this amazing 8-day run, <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> +36% vs NDX +4%. All Mag 7 stocks are up over this period: <a href="https://twitter.com/search?q=%24AAPL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAPL</a> +7%, <a href="https://twitter.com/search?q=%24META&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$META</a> +7%, <a href="https://twitter.com/search?q=%24AMZN&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AMZN</a> +7%, <a href="https://twitter.com/search?q=%24GOOG&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GOOG</a> +5%, <a href="https://twitter.com/search?q=%24MSFT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSFT</a> +4%, <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a> +1%. At $251, TSLA now trades at 102x 2024… <a href="https://t.co/qpMb931xbg">pic.twitter.com/qpMb931xbg</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1810104794327203989?ref_src=twsrc%5Etfw">July 8, 2024</a></blockquote>
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Black further suggested that Wall Street analysts might revise their earnings estimates and price targets following Tesla&#8217;s second-quarter earnings report, which is expected to reflect higher-than-anticipated auto gross margins and adjusted EPS. 
He also pointed out a potential shift in Tesla&#8217;s 18-month trend of negative earnings revisions, as the company now seems to be favoring low-interest-rate loans over price cuts to drive EV volumes.
&#8220;The biggest positive we see is that TSLA's 18-month trajectory of negative earnings revisions seems about to reverse, with TSLA now favoring use of very low int rate loans instead of price cuts to drive EV volumes, a strategy we've advocated for 18 months,&#8221; Black wrote.
See Also: <a href="https://www.benzinga.com/partner/cryptocurrency/24/07/39615853/bitdeer-nasdaq-btdr-secures-leading-asic-market-position-with-all-stock-freechain-acquisit?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitdeer (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTDR#NASDAQ">BTDR</a>) Secures Leading ASIC Market Position With All-Stock FreeChain Acquisition</a>
Black also mentioned a crucial hearing scheduled for the next day, where a judge will consider attorney fees before a more significant hearing in August regarding the approval of Elon Musk&#8216;s 2018 compensation plan by Tesla shareholders.
&#8220;We continue to view TSLA's 8/8 robotaxi unveil as a non-event, since we doubt TSLA will launch an unsupervised robotaxi that operates at 99.99% efficacy and assume liability for any injury or damage. Anything less than that is essentially no change from investors' current expectations of a supervised Cybercab unveil,&#8221; Black wrote. 
Why It Matters: Despite the bullish sentiment, some analysts remain skeptical. Gordon Johnson, founder of GJC Research, recently expressed his <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39649730/theyre-nowhere-near-being-robotaxis-bearish-tesla-analyst-says-musk-is-promoting-sm">bearish outlook on Tesla</a>, citing declining margins and slower growth in car sales. Johnson believes Tesla&#8217;s stock is overvalued and could eventually fall below $30 per share.
Additionally, Jim Cramer, host of CNBC&#8217;s &#8220;Mad Money,&#8221; has advised investors to buy the &#8220;Mag 7&#8221; stocks when interest rates rise and to <a href="https://www.benzinga.com/markets/equities/24/07/39588207/jim-cramer-has-a-market-strategy-interest-rates-up-buy-mag-7-rates-down-buy-everything">buy everything when rates fall</a>. Cramer&#8217;s strategy reflects the market&#8217;s resilience and the significant role these tech giants play in driving market trends.
On the other hand, Wedbush analyst Dan Ives <a href="https://www.benzinga.com/markets/equities/24/07/39610934/tesla-price-target-raised-to-300-by-wedbush-analyst-dan-ives-amid-1-trillion-tech-potential-the">recently raised Tesla&#8217;s price target</a> to $300, with a bullish case of $400, driven by the company&#8217;s AI potential. Ives believes Tesla&#8217;s AI story could be worth over $1 trillion, making it the most undervalued AI name.
Price Action: Tesla Inc stock last closed at $251.52, up 2.08%. In after-hours trading, the stock dipped 0.20%. Year to date, Tesla has seen a modest increase of $3.10, reflecting a 1.25% gain, <a href="https://pro.benzinga.com/dashboard">according to Benzinga Pro</a>.
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Image Via 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/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

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Tesla Could Be On The Verge Of A 9-Day Winning Streak As Nvidia, Apple, Microsoft, And Other Mag 7 Stocks Rise, Forecasts Gary Black

Skydance Media is on the verge of acquiring Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) the owner of MTV and CBS, after <a href="https://www.benzinga.com/general/entertainment/24/07/39615447/why-is-paramount-global-stock-surging-today">a special committee of the latter</a>&#8216;s board approved the merger.
What Happened: The special committee of Paramount&#8217;s board has given the green light to a merger with Skydance Media, led by David Ellison, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-07-07/paramount-para-board-s-special-committee-approves-skydance-merger">reported</a> on Sunday, citing a person with knowledge of the matter. The full board is expected to ratify the deal on Sunday, with an official announcement likely to follow on Monday.
The transaction, if finalized, would mark the end of a tumultuous and complex merger process. The deal includes the acquisition of National Amusements, the controlling shareholder of Paramount, by Ellison, followed by the merger of Skydance with Paramount. This move would bring an end to the Redstone family&#8217;s four-decade-long control of the media empire.
Ellison&#8217;s negotiations with Paramount and Redstone had collapsed just a few weeks ago, surprising the company&#8217;s board, employees, and shareholders. However, the son of Oracle Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) co-founder Larry Ellison maintained contact with Redstone and revived the talks over the past several days. 
The new terms feature a higher valuation for National Amusements and stronger language indemnifying the Redstones&#8217; company against potential litigation resulting from the deal.
Skydance Media and Paramount Global 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/markets/cryptocurrency/24/07/39654876/benzinga-bulls-and-bears-tesla-nvidia-palantir-and-trader-predicts-huge-rebound-for-dogeco?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla, Nvidia, Palantir And Trader Predicts &#8216;Huge Rebound&#8217; For Dogecoin: Benzinga Bulls And Bears</a>
Why It Matters: This potential acquisition comes after a series of ups and downs in the negotiation process. Talks between Paramount and Skydance <a href="https://www.benzinga.com/m-a/24/06/39281124/paramount-and-skydance-merger-talks-fall-through-report">collapsed in June</a>, only to be revived by Ellison in the past few days. The new terms of the deal include a higher valuation for National Amusements and stronger language indemnifying the Redstones&#8217; company against potential litigation resulting from the deal.
The news of the potential acquisition has had a significant impact on the stock market. <a href="https://www.benzinga.com/general/entertainment/24/07/39615447/why-is-paramount-global-stock-surging-today">Paramount Global&#8217;s stock surged following reports</a> of the preliminary agreement to acquire National Amusements Inc. and merge with Paramount. This deal, involving substantial financial maneuvering, aims to strengthen Paramount&#8217;s position in the competitive media landscape.
Price Action: Paramount Global Class B shares last closed at $11.81, rising by 3.05%. In after-hours trading, the stock slightly increased 0.17%. Year to date, the stock has declined by 17.99%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
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Image Via 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/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

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PARA

Paramount Board Endorses Merger With Skydance Media As David Ellison Nears Acquisition Of MTV And CBS Owner: Report

In a move to cut costs,&nbsp;Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is said to be&nbsp;developing a new version of&nbsp;its Watch SE, which will feature a plastic casing.
What Happened: In his latest weekly &#8220;Power On&#8221; newsletter,&nbsp;Bloomberg columnist&nbsp;Mark Gurman reported that Cupertino is creating a new Apple Watch SE model incorporating a sturdy plastic casing instead of anodized aluminum. 
&#8220;Perhaps it's looking to get the cost down to something that could better rival Samsung's cheapest watch&#8221; he stated. The existing Apple Watch SE is priced at $249, while the Galaxy Watch FE, the most affordable competitor from Samsung, is available for $199. 
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/06/39562120/mark-zuckerberg-says-meta-set-to-unveil-full-holographic-glasses-every-person-who-ive-shown-it-to-so?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Says Meta Set To Unveil &#8216;Full Holographic&#8217; Glasses: &#8216;Every Person Who I&#8217;ve Shown It To So Far, Their Reaction Is Giddy&#8217;</a>
This development comes on the heels of rumors about <a href="https://www.benzinga.com/news/24/06/39518145/apple-watch-x-cupertinos-special-10th-anniversary-edition-to-reportedly-feature-largest-display-yet">Apple&#8217;s 10th-anniversary special edition </a>watch, the Apple Watch X or Series 10. Previously, it was reported that the new model would feature the largest display yet on an Apple Watch, with a 2-inch screen. 
The device was said to be larger than the current Series 9 but smaller than the Ultra. Gurman also reiterated this report saying, &#8220;The device also will be thinner, though the design itself is unlikely to look much different.&#8221;
Moreover, the Series 10 and the new Ultra 3 will feature a new chip, potentially paving the way for future AI enhancements, Gurman noted, adding that there are no plans to extend the full suite of AI features to the Apple Watch for now.
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: Apple has a history of releasing products with plastic casings, such as the iPhone 5C in 2013. This device, which featured a polycarbonate exterior in a range of bright colors, received mixed reviews.
Critics felt that the plastic casing was a step down from the premium metal finishes of earlier models, and some customers believed the device was overpriced for what they saw as a lesser product, <a href="https://www.macrumors.com/2024/07/07/apple-watch-se-with-plastic-casing/">reported</a> MacRumors.
Image Credits &#8211; Apple
Check out more of Benzinga'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: <a href="https://www.benzinga.com/news/24/07/39569675/palantirs-peter-thiel-says-its-very-strange-that-most-money-in-ai-is-being-made-by-only-one-company?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Palantir&#8217;s Peter Thiel Says It&#8217;s &#8216;Very Strange&#8217; That Most Money In AI Is Being Made By Only One Company: &#8216;…Which Silicon Valley Doesn&#8217;t Even Know Much About Anymore&#8217;</a>
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.

Tech

Apple Plans Plastic Casing Watch SE To Take On Samsung Galaxy Watch FE, Says Expert

Leading cryptocurrencies sank further Sunday, erasing gains made from the relief rally in the days prior.
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<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded 8:30 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-3.68%</td>
<td>$55,967.31</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-3.54%</td>
<td>$2,949.73</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-8.26%</td>
<td>$0.104</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin fell below $56,000 again, following an optimistic rally that saw the digital asset rise well beyond $58,000 the night before.
The second-largest cryptocurrency, Ethereum, also dropped below $3,000 after a temporary respite.&nbsp;
The market has been under stress, <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39652199/impact-of-mt-gox-germany-sales-on-bitcoin-lettuce-hands-are-flushed-out">exacerbated </a>in part by planned Bitcoin sell-offs by defunct cryptocurrency exchange Mt.Gox this month as part of its repayment obligations to its creditors, and potential sales by the German government.&nbsp;
The slump in the last 24 hours caused $202 million in liquidations, with $171 million in long bullish bets getting wiped out.
Bitcoin's Open Interest dropped 4.67% in the last 24 hours. A fall in OI, complemented by a fall in price, indicated the capitulation of long positions, igniting hopes of a bullish recovery.&nbsp;
The Cryptocurrency Fear &amp; Greed Index continued to be engulfed in "Fear." The reading of 28 at the time of writing is the lowest since Jan. 2023, the aftermath of the FTX collapse.&nbsp;
Top Gainers (24-Hours)
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<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. EDT)</td>
</tr>
<tr>
<td>Notcoin (NOT)</td>
<td>+7.04%</td>
<td>$0.01432</td>
</tr>
<tr>
<td>ORDI (ORDI)</td>
<td>+0.21%</td>
<td>$5.77</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market cap stands at $2.04 trillion, following a 4.51% drop in the last 24 hours.
Stock futures traded lower Sunday night. The Dow Jones Industrial Average Futures slipped 0.14% as of 8:30 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 fell 0.14%, while Nasdaq 100 Futures were also down 0.14%.
This week, investors will seek cues from key inflation data, such as the consumer price index and producer price index, to predict the Federal Reserve&#8217;s next steps. According to CME FedWatch, investors anticipate an interest rate cut during September's FOMC meeting.&nbsp;
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Widely followed cryptocurrency analyst Rekt Capital sounded a possibility of Bitcoin breaking to the downside from its four-month-long range if it fails to close above $56,750. &nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> Bitcoin failed to Daily Close above $58350 (black) Instead, price actually Daily Closed below this level, prompting a rejection Bitcoin needs to now hold $56750 (purple) if it wants to establish a range here<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/oDei6RtVsR">https://t.co/oDei6RtVsR</a> <a href="https://t.co/NtKuMYDq6i">pic.twitter.com/NtKuMYDq6i</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1809943391813165074?ref_src=twsrc%5Etfw">July 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Another popular trader Kevin ruled out the possibility of an imminent altcoin rally owing to Bitcoin's negative momentum.
"BTC dominance will not top until BTC has been in high conviction price discovery for 30-45 days. Happens way every cycle. Somewhere in the low to mid 60's percent is my guess," the trader asserted.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Looks like I have to say this again and again because these big accounts keep lying to their followers or they just don't know how this works. <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> dominance will not top until BTC has been in high conviction price discovery for 30-45 days. Happens way every cycle. Somewhere in…
&mdash; Kevin (@Kev_Capital_TA) <a href="https://twitter.com/Kev_Capital_TA/status/1810048155624591457?ref_src=twsrc%5Etfw">July 7, 2024</a></blockquote>
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Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39656790/bitcoins-bullish-future-analyst-predicts-80-rally-after-correction-but-heres-the-catch">Bitcoin&#8217;s Bullish Future: Analyst Predicts 80% Rally After Correction, But Here&#8217;s The Catch</a></li>
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Movers

Trading Ideas

$DOGE

$ETH

Bitcoin, Ethereum, Dogecoin Sink Again: King Crypto On Cusp Of Downside Breakout If $56K Is Lost, Says Analyst

In the face of mounting pressure from within his party, President Joe Biden has remained resolute about his candidacy for the 2024 presidential election.
What Happened: Despite calls for his resignation from senior House Democrats, Biden has stood firm, asserting that he is the best candidate to defeat former President Donald Trump and safeguard democracy, <a href="https://thehill.com/homenews/campaign/4759053-biden-resolute-democratic-primary/">reported</a> The Hill on Sunday.
During an interview with ABC News, Biden stated, &#8220;If the Lord Almighty came down and said, &#8216;Joe, get out of the race,&#8217; I&#8217;d get out of the race. The Lord Almighty&#8217;s not coming down.&#8221;
Despite the growing number of Democrats urging him to step down, Biden has reportedly told his key allies that he is the most viable candidate, pointing to his 2020 campaign and the outcome of the 2016 election.
Senior House Democrats, including Jerrold Nadler (D-N.Y.), Adam Smith (D-Wash.), Mark Takano (D-Calif.), and Joseph Morelle (D-N.Y.), have privately advised Biden to withdraw from the race. This advice aligns with the public calls for Biden&#8217;s resignation from other House members, editorial boards, and prominent columnists.
Despite the mounting pressure, Biden&#8217;s inner circle remains committed to his candidacy, with some pointing to his 2020 primary race as evidence that he can overcome adversity.
One key Biden ally said that the president believes that he understands the electorate. &#8220;He&#8217;s dug in,&#8221; said the person, according to The Hill report.
See Also: <a href="https://www.benzinga.com/news/24/07/39656574/scaramucci-says-kamala-harris-will-likely-run-for-office-as-biden-may-not-finish-his-term-interestin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Scaramucci Says Kamala Harris Will Likely Run For Office As Biden May Not Finish His Term: &#8216;Interesting &#8230; If The Orange Maniac known as Donald Trump Was Beaten By Her&#8217;</a>
Why It Matters: The pressure on Biden to step down comes amid concerns within the Democratic Party about his chances in the 2024 election. A recent <a href="https://www.benzinga.com/news/24/07/39613299/democrats-want-biden-to-quit-push-this-candidate-as-better-fit-to-rival-trump-in-2024-presidential-r">Ipsos poll</a> suggested that former first lady Michelle Obama could be a more potent contender against Trump, leading to calls for Biden to make way for a new candidate.
These concerns have been further exacerbated by Biden&#8217;s <a href="https://www.benzinga.com/news/24/07/39638455/obama-era-official-says-democrats-discussing-how-to-replace-biden-full-scale-panic-behind-the-scenes">poor debate performance</a> and a recent <a href="https://www.benzinga.com/news/24/07/39657594/biden-vs-trump-matchup-shows-president-now-trails-by-smallest-margin-in-key-swing-states-poll-finds">Bloomberg poll</a> showing Trump leading Biden by a narrow margin in key swing states.
Despite these challenges, Biden&#8217;s allies have pointed to a recent <a href="https://www.benzinga.com/news/24/07/39657594/biden-vs-trump-matchup-shows-president-now-trails-by-smallest-margin-in-key-swing-states-poll-finds">Bloomberg poll</a> showing the president leading Trump in battleground states such as Michigan and Wisconsin, with close margins in other key states. Biden has also stepped up his campaign efforts, seeking to reassure supporters of his commitment to the race.
Photo Courtesy: Shutterstock.com
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39654333/while-bitcoin-ethereum-shiba-inu-witness-a-meltdown-this-solana-based-memecoin-has-surged-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">While Bitcoin, Ethereum, Shiba Inu Witness A Meltdown, This Solana-Based Memecoin Has Surged 147% In Last Week</a></li>
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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/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

General

Biden Defiant Amid Calls To Quit Amid Mounting Pressure From House Democrats: 'He's Dug In'

Former Representative Cedric Richmond (D-La.) has disclosed that Vice President Kamala Harris is set to take on a more significant role in President Joe Biden&#8216;s reelection campaign.
What Happened: Richmond, who serves as the co-chair of the Biden-Harris campaign, revealed on Sunday that Harris would be ramping up her involvement in the campaign. This announcement comes amid ongoing concerns about Biden&#8217;s ability to secure a second term following a lackluster debate performance last month, <a href="https://thehill.com/homenews/campaign/4759014-biden-campaign-co-chair-harris-increasing-role/">reported</a> The Hill.
&#8220;She is increasing her role and she's been a valued partner since day one. I won't get into whether she's been covered fairly by the press, but she is a valuable partner. She's incredibly intelligent,&#8221; Richmond said on MSNBC's &#8220;The Sunday Show with Jonathan Capehart.&#8221;
Richmond also mentioned that California Governor Gavin Newsom (D) and Michigan Governor Gretchen Whitmer (D) have expressed their support for Biden following the debate, squashing rumors of them replacing Biden at the top of the ticket.
&#8220;Leaders are rallying around this president and vice president because they understand what's at stake and they understand what they have accomplished,&#8221; Richmond added.
See Also: <a href="https://www.benzinga.com/markets/equities/24/07/39655253/robert-f-kennedy-jr-stirs-controversy-by-promising-to-open-the-files-on-pivotal-moment-in-us-his?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Robert F. Kennedy Jr. Stirs Controversy By Promising To &#8216;Open The Files&#8217; On Pivotal Moment In US History</a>
Why It Matters: The news of Harris&#8217;s increased involvement in the campaign comes at a time when speculation about her potentially replacing Biden at the top of the ticket is rife. This speculation has been fueled by a <a href="https://www.benzinga.com/news/24/07/39627704/kamala-harris-reportedly-emerges-as-top-choice-to-replace-the-president-in-2024-election-biden-says">Reuters report</a> that suggested Harris is the leading alternative to replace Biden if he decides not to continue his reelection campaign.
Former White House Communications Director Anthony Scaramucci also weighed in on the situation, predicting that Biden will be out of the race by the end of July and suggesting that &#8220;we are going to get a President [Kamala] Harris,&#8221; <a href="https://www.benzinga.com/news/24/07/39656574/scaramucci-says-kamala-harris-will-likely-run-for-office-as-biden-may-not-finish-his-term-interestin">reported</a> Benzinga.
Meanwhile, a leaked video of former President Donald Trump making <a href="https://www.benzinga.com/news/24/07/39638541/trumps-unfounded-claims-kamala-harris-stir-controversy-shes-so-bad-shes-so-pathetic">unfounded allegations</a> about forcing Biden out of the presidential race and criticizing Harris has also stirred controversy.
Despite the rumors, Biden has <a href="https://www.benzinga.com/news/24/07/39627704/kamala-harris-reportedly-emerges-as-top-choice-to-replace-the-president-in-2024-election-biden-says">reiterated his intention</a> to run for a second term, with Harris doubling down on her support for him. The increased involvement of Harris in the campaign could be seen as a strategic move to reinforce the Biden-Harris ticket and dispel any doubts about their unity and commitment to the reelection effort.
Image via Shutterstock
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<li><a href="https://www.benzinga.com/news/24/07/39657063/trump-gives-unexpected-advice-to-biden-following-disappointing-debate-crooked-joe-biden-should?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Gives Unexpected Advice To Biden Following Disappointing Debate: &#8216;Crooked Joe Biden Should &#8230;&#8217;</a></li>
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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/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Kamala Harris Set To Play A Bigger Role In Biden Campaign, Says Co-Chair: 'She's Incredibly Intelligent'

Sen. Bernie Sanders (I-Vt.) lauded the French Left for their victory over right-wing extremism. He emphasized the popularity of policies such as lowering the retirement age and increasing the minimum wage.
What Happened: In a series of tweets on Sunday, Sanders praised the French Left for their victory over right-wing extremism. He attributed their success to policies that support working families, such as lowering the retirement age and increasing the minimum wage.
He wrote, &#8220;Here's a simple fact: If politicians stand with working families, working families will stand with you. As it turns out, lowering the retirement age &amp;amp; raising the minimum wage are very popular. Congratulations to the French Left for taking on right-wing extremism and winning.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Here's a simple fact: If politicians stand with working families, working families will stand with you. As it turns out, lowering the retirement age &amp; raising the minimum wage are very popular. Congratulations to the French Left for taking on right-wing extremism and winning.
&mdash; Bernie Sanders (@BernieSanders) <a href="https://twitter.com/BernieSanders/status/1810051323821457544?ref_src=twsrc%5Etfw">July 7, 2024</a></blockquote>
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On Sunday, the French left coalition won the most seats but fell short of a majority, resulting in a hung parliament and potential political paralysis. This outcome followed President Emmanuel Macron&#8217;s gamble to call the election, which backfired, leaving no clear governing majority. The results could destabilize France&#8217;s economy and impact global diplomacy, especially with the looming Paris Olympics. Despite setbacks, many leftist supporters celebrated their coalition&#8217;s success, <a href="https://apnews.com/article/france-elections-far-right-macron-08f10a7416a2494c85dcd562f33401d1">reported</a> the Associated Press.
See Also: <a href="https://www.benzinga.com/news/24/07/39657200/ex-trump-staffer-shares-texts-to-prove-that-ex-presidents-campaign-settled-to-keep-discrimination-an?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ex-Trump Staffer Shares Texts To Prove That Ex-President&#8217;s Campaign Settled To Keep Discrimination And Sexual Harassment Lawsuits Quiet</a>
Why It Matters: Sanders&#8217; post underscores the <a href="https://www.benzinga.com/news/23/05/32590034/7-25hour-no-longer-enough-survey-shows-what-americans-want-as-minimum-wage-amid-tough-times">growing support</a> for policies that benefit working families. This aligns with the results of a recent survey, which revealed that the majority of Americans believe a minimum wage of $26 per hour is necessary for a decent quality of life. Sanders has been a vocal advocate for such policies, proposing a 32-hour workweek without any pay reduction.
Sanders&#8217; tweet reflects his longstanding commitment to workers&#8217; rights and economic justice. His stance aligns with the growing consensus among American voters that the current federal minimum wage of $7.25 per hour is insufficient in today&#8217;s economy. A recent <a href="https://www.benzinga.com/news/23/05/32590034/7-25hour-no-longer-enough-survey-shows-what-americans-want-as-minimum-wage-amid-tough-times">Data for Progress survey</a> revealed that voters believe an average American should earn $26 per hour to afford basic necessities comfortably.
Sanders has also been <a href="https://www.benzinga.com/news/24/03/37681980/bernie-sanders-is-back-with-his-4-day-workweek-plan-with-no-pay-cut-not-a-radical-idea">pushing for a 32-hour workweek</a> without a pay cut, arguing that it is not a radical concept. He believes that in a future where technology amplifies efficiency, the cost of this &#8220;free&#8221; time should not be shouldered by workers. His proposal aims to address the struggles of workers who are forced to work longer hours for lower wages, often missing out on family events and still struggling to afford basic necessities, as <a href="https://www.benzinga.com/personal-finance/24/03/37826905/bernie-sanders-pushes-for-a-32-hour-workweek-with-no-loss-in-pay-but-who-will-pay-you-for-those-">reported</a> in this Benzinga article.
Photo by Joseph Sohm on Shutterstock
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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/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

COST

Bernie Sanders Congratulates French Left For Defeating 'Right-Wing Extremism,' Says the Message Is Simple: Lowering Retirement Age, Raising Minimum Wage 'Very Popular'

In a recent revelation, Olivia Troye, a former staffer of Mike Pence&#8216;s Homeland Security, has refuted Donald Trump&#8216;s claims of unawareness about Project 2025.
What Happened: Troye, who has previously criticized Pence for downplaying her Mexican heritage, appeared on CNN to discuss Project 2025. 
The controversial 900-page plan for restructuring the federal government was orchestrated by Trump&#8217;s former White House officials, according to Troye, <a href="https://www.rawstory.com/trump-project-2025-pence-staffer-spills/">reported</a> Raw Story.
Responding to Trump&#8217;s denial of knowledge about the project, Troye stated, &#8220;No. I mean, look, this is preposterous if you look at the collaborators and the authors of this plan. A lot of these people came from directly people that served in Trump&#8217;s cabinet during his administration.&#8221;
She identified several senior officials involved in the project, including John McEntee, Stephen Miller, and Ben Carson. She also named Ken Cuccinelli, the former deputy secretary of DHS, who contributed to the project&#8217;s immigration and DHS sections.
Troye, a lifelong Republican, voiced her concerns about the plan&#8217;s overreach on individual liberties, particularly in relation to healthcare rights. She pointed out the plan&#8217;s criticism of liberal states for becoming &#8220;sanctuaries for abortion tourism.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39638571/bitcoin-ethereum-dogecoin-in-full-meltdown-as-mt-gox-moves-2-7b-to-new-wallet-king-crypto-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin In Full Meltdown As Mt.Gox Moves $2.7B To New Wallet: King Crypto Decline To $51K Feared By Analyst</a>
Why It Matters: Trump&#8217;s <a href="https://www.benzinga.com/news/24/07/39654177/trump-distances-himself-from-project-2025-amid-rising-controversy-i-know-nothing">denial of involvement</a> in Project 2025 has been a point of contention. Despite the project&#8217;s ties to his potential second-term administration, Trump has publicly disavowed any connection to the contentious initiative.
The project, led by the Heritage Foundation, a conservative think tank, has faced criticism from Democrats for outlining an extreme policy agenda for a potential second Trump term.
These revelations come at a time when Trump is leading President Joe Biden by the <a href="https://www.benzinga.com/news/24/07/39657594/biden-vs-trump-matchup-shows-president-now-trails-by-smallest-margin-in-key-swing-states-poll-finds">smallest margin</a> in key swing states, according to a Bloomberg News/Morning Consult tracking poll.
Image via Shutterstock
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</ul>
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/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Former Mike Pence Staffer Dismisses Trump's Attempts To Distance Himself From 'Project 2025' — 'Preposterous If You Look At The Collaborators'

The left-wing alliance in France is poised to secure the majority of seats in a tense parliamentary showdown, undermining the far-right ambitions of Marine Le Pen&#8216;s National Rally, based on preliminary results.
What Happened: Despite leading in the first round, the National Rally&#8217;s hope to dominate the French legislature for the first time fell short due to strategic alliances and tactical voting by opposition forces. 
Early counts by the IFOP polling institute indicate that the left-wing bloc could secure between 180 and 215 seats out of 577, surpassing Macron's centrist party, which is projected to win 150-180 seats. The National Rally is expected to have between 120 and 150 seats, according to these initial projections, <a href="https://www.politico.eu/article/france-legislative-election-2024-second-round-front-populaire-jean-luc-melenchon-raphael-glucksmann-shock-victory/">reports</a> Politico.
This election&#8217;s outcome may introduce significant confusion and fragmentation in the parliament, splitting it among the leftist coalition, Macron&#8217;s centrists and Le Pen&#8217;s far-right faction.
In the days leading to the final vote, there was considerable political maneuvering, with many center and left-wing candidates withdrawing to consolidate the anti-Le Pen vote.
In a striking turn of events, far-left leader Jean-Luc Mélenchon addressed his supporters in Paris, celebrating what he described as an unexpected victory against the odds. He urged Macron to appoint a prime minister from the victorious left-wing alliance, now dubbed the New Popular Front.
Mélenchon&#8217;s remarks emphasized the coalition&#8217;s goals, including the repeal of Macron&#8217;s pension reforms and significant increases to the minimum wage.
Contrastingly, the atmosphere was somber at the National Rally&#8217;s gathering, where supporters expressed disbelief and disappointment as projections rolled in. Jordan Bardella, president of the National Rally, criticized the coalition between Macron and the left as an &#8220;unnatural alliance&#8221; aimed solely at thwarting his party&#8217;s significant progress. 
Despite the setback, Bardella remained optimistic about future political prospects, highlighting the doubling of their parliamentary presence as a foundation for future successes.
The financial markets have been showing signs of strain, as the country faces snap elections. The yield on France's 10-year Obligations assimilables du Tresor (OAT) has widened nearly 20 basis points against Germany's 10-year Bunds, hitting an annual peak.
This shift underscores growing investor concerns as the first-round results showed the far-right National Rally party unlikely to secure a majority and, in turn, somewhat buoyed the euro, <a href="https://www.wisdomtree.com/investments/blog/2024/07/02/french-first-round-elections-le-pens-party-scratches-at-the-majority">notes</a> investment firm WisdomTree.
Following the election announcement, French stocks have experienced significant losses, with the CAC 40 Index dropping 5.3%, a steeper decline than the broader European EuroStoxx 600 Index, which fell by 2.1%. However, only 15% of the sales of companies within France&#8217;s benchmark CAC 40 Index are domestically oriented. This underscores the index&#8217;s global market nature from a revenue perspective, as many international companies based in France are less reliant on the domestic environment for their revenue, according to WisdomTree. 
French banks are also grappling with higher risk premiums following proposals for new taxes on windfall profits and dividends. This, coupled with the potential for forced reductions in retail prices by infrastructure and utility companies, spells trouble for domestically focused firms in France.
In light of these market dynamics, WisdomTree suggests that investors consider strategies that hedge against such volatility. For instance, since its inception on July 2, 2012, the WisdomTree Europe Hedged Equity Index has aimed to mitigate currency risks for companies heavily reliant on non-European revenues, the firm points out.
This approach, according to WisdomTree, helps insulate investments from local market shocks, such as those induced by the French elections, by focusing on globally integrated European companies.
Why It Matters: The far right&#8217;s lead has diminished as Macron&#8217;s centrist Together alliance and the left-wing New Popular Front (NPF) have pulled candidates in efforts to unify the anti-National Rally vote.
The campaign witnessed an escalation in political violence, with over 50 physical assaults on candidates and campaigners recorded. 
Luxury boutiques along the Champs Elysees boulevard, including the Louis Vuitton store, barricaded windows in anticipation of violent protests should the far right win.
A National Rally-led government would raise major questions about France&#8217;s role in Europe and on the global stage, and the direction of the EU given France&#8217;s influential role in the bloc.
Now Read: <a href="https://www.benzinga.com/government/24/07/39585183/one-to-the-right-one-to-the-left-frances-national-rally-set-for-record-win-as-the-uks-labour-party-r">One To The Right, One To The Left: France&#8217;s National Rally Set For Record Win As The UK&#8217;s Labour Party Regains Support</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

French Elections Take a Surprising Turn As Left Poised For Victory — What Does That Mean For The Market?

The Biden administration has unveiled a $504 million funding package aimed at bolstering 12 regional technology hubs <a target="_blank" href="https://www.benzinga.com/government/24/07/39592660/biden-administration-pumps-504m-to-boost-ai-chip-innovation-in-tech-hubs" rel="noreferrer noopener">across the United States</a>.
California lawmakers are set to vote on a bill that would impose stringent&nbsp;safety regulations on artificial intelligence companies. The bill is being fiercely opposed by tech giants, including&nbsp;Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and<a target="_blank" href="https://www.benzinga.com/news/24/07/39589481/meta-google-slam-californias-ai-safety-bill-say-it-will-make-the-ecosystem-less-safe-mark-zuckerberg" rel="noreferrer noopener">&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/07/39589481/meta-google-slam-californias-ai-safety-bill-say-it-will-make-the-ecosystem-less-safe-mark-zuckerberg" rel="noreferrer noopener">Alphabet Inc </a><a target="_blank" href="https://www.benzinga.com/news/24/07/39589481/meta-google-slam-californias-ai-safety-bill-say-it-will-make-the-ecosystem-less-safe-mark-zuckerberg" rel="noreferrer noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)</a>.
Gaming
Epic Games is advancing its plans to relaunch &#8220;Fortnite&#8221; on its own iPhone app store for EU users by submitting the Epic Games Store and the updated Fortnite app <a target="_blank" href="https://www.benzinga.com/news/24/07/39567248/fortnite-could-return-back-to-apple-iphone-as-epic-moves-to-reintroduce-game-via-eu-alternative-app" rel="noreferrer noopener">to Apple for notarization</a>.
Sega Sammy Holdings Inc (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SGAMY#OTC">SGAMY</a>), renowned for its iconic gaming franchises, recently unveiled groundbreaking plans for the future of Crazy Taxi <a target="_blank" href="https://www.benzinga.com/general/gaming/24/07/39582716/sega-announces-open-world-crazy-taxi-a-next-gen-multiplayer-experience" rel="noreferrer noopener">and other beloved series</a>.
Capcom ADR (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CCOEY#OTC">CCOEY</a>) officially confirmed the development of &#8220;Resident Evil 9&#8221; <a href="https://www.benzinga.com/general/gaming/24/07/39602070/capcom-confirms-development-of-resident-evil-9" target="_blank" rel="noreferrer noopener">was underway</a>.
Microsoft Corp.&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Xbox Game Pass&nbsp;subscribers have an exciting lineup to look forward to, with Wave 1 offerings spanning various <a target="_blank" href="https://www.benzinga.com/general/gaming/24/07/39604435/get-ready-for-xbox-game-pass-july-2024-journey-to-the-savage-planet-tchia-more" rel="noreferrer noopener">genres and&nbsp;platforms</a>.
Xbox Game Pass&nbsp;subscribers have an exciting lineup to look forward to, with Wave 1 offerings spanning various genres and&nbsp;<a target="_blank" href="https://www.benzinga.com/topic/xbox" rel="noreferrer noopener">platforms.</a>
Read: <a target="_blank" href="https://www.benzinga.com/general/gaming/24/07/39603546/why-some-games-run-better-on-ps5-despite-xbox-series-xs-power-advantage-according-to-experts" rel="noreferrer noopener">Why Some Games Run Better On PS5 Despite Xbox Series X&#8217;s Power Advantage, According To Experts</a>
Smartphones
The deadline for&nbsp;Apple Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) iPhone 7 and iPhone 7 Plus users to claim a&nbsp;portion of the $35 million settlement fund established after a class-action lawsuit regarding audio issues <a href="https://www.benzinga.com/news/24/07/39568912/apple-iphone-settlement-deadline-extended-users-get-extra-time-to-file-claims-to-get-up-to-349" target="_blank" rel="noreferrer noopener">has been extended</a>.
Despite initial discussions in March, Apple has reportedly declined&nbsp;Meta Platforms&#8217; proposal to incorporate its AI chatbot, <a href="https://www.benzinga.com/news/24/06/39564817/apple-rejects-metas-ai-integration-proposal-ex-employee-accuses-iphone-maker-of-chemical-exposure-an" target="_blank" rel="noreferrer noopener">Llama, into the iPhone</a>.
Related: <a target="_blank" href="https://www.benzinga.com/news/24/06/39564985/apples-ai-initiatives-impress-analysts-meta-eyes-apple-intelligence-arm-holdings-ceo-on-rapid-growth" rel="noreferrer noopener">Apple&#8217;s AI Initiatives Impress Analysts, Meta Eyes Apple Intelligence, Arm Holdings CEO On Rapid Growth Of AI And More: This Week In AI</a>
Apple&#8217;s&nbsp;closest rival in the smartwatch space,&nbsp;Samsung Electronics, has introduced its new Exynos W1000 chipset that can help the next generation Galaxy Watch last twice as long as the&nbsp;<a target="_blank" href="https://www.benzinga.com/topic/apple-watch-series-9" rel="noreferrer noopener">Apple Watch Series 9</a>.
Apple&nbsp;is reportedly set to secure an observer role on the board of&nbsp;ChatGPT-parent&nbsp;OpenAI,&nbsp;<a target="_blank" href="https://www.benzinga.com/24/07/39611089/top-apple-executive-phil-schiller-to-join-openai-board-as-observer-giving-iphone-maker-equal-status" rel="noreferrer noopener">matching the position of&nbsp;</a><a target="_blank" href="https://www.benzinga.com/24/07/39611089/top-apple-executive-phil-schiller-to-join-openai-board-as-observer-giving-iphone-maker-equal-status" rel="noreferrer noopener">Microsoft</a>.
Technology
The European Union (EU) is reportedly gearing up to charge&nbsp;Meta Platforms with a <a target="_blank" href="https://www.benzinga.com/news/24/07/39569000/metas-pay-or-consent-model-to-draw-charges-from-eu-report" rel="noreferrer noopener">breach of its digital regulations</a>.
South Korea&#8217;s&nbsp;SK Group, the parent company of&nbsp;Nvidia Corporations&#8217;&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) chip supplier&nbsp;SK Hynix, has announced plans to amass 80 trillion won ($56 billion) by 2026. The funds will be primarily directed towards investments in artificial <a target="_blank" href="https://www.benzinga.com/news/24/07/39575498/nvidia-suppliers-parent-company-pledges-56b-investment-in-ai-chip-tech-by-2026-as-competition-from-s" rel="noreferrer noopener">intelligence (AI) and semiconductors</a>.
Elon Musk
Tesla, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&nbsp;and&nbsp;SpaceX&nbsp;CEO&nbsp;Elon Musk&nbsp;reacted to an old video of AI &#8220;Godfather&#8221;&nbsp;Geoffrey Hinton&nbsp;that artificial intelligence <a target="_blank" href="https://www.benzinga.com/news/24/07/39590277/elon-musk-reacts-to-an-old-video-of-ai-godfather-geoffrey-hinton-saying-that-artificial-intelligence" rel="noreferrer noopener">has passed the Turing Test</a>.
Elon Musk&nbsp;has shared a glimpse of the resources invested in the development of&nbsp;his AI chatbot,&nbsp;Grok. Musk recently disclosed that the upcoming version of his AI chatbot, Grok 3, will be trained on a massive <a target="_blank" href="https://www.benzinga.com/news/24/07/39594885/elon-musk-reveals-the-staggering-amount-of-nvidia-h100-gpus-that-will-be-used-to-train-xai-chatbot-g" rel="noreferrer noopener">100,000&nbsp;Nvidia H100&nbsp;chips</a>.
Also Read: <a href="https://www.benzinga.com/news/24/07/39569675/palantirs-peter-thiel-says-its-very-strange-that-most-money-in-ai-is-being-made-by-only-one-company" target="_blank" rel="noreferrer noopener">Palantir&#8217;s Peter Thiel Says It&#8217;s &#8216;Very Strange&#8217; That Most Money In AI Is Being Made By Only One Company: &#8216;…Which Silicon Valley Doesn&#8217;t Even Know Much About Anymore&#8217;</a>
Photo: Shutterstock

CCOEY

SGAMY

What's New In the Consumer Tech World Last Week? News That You Should Know (June 30 - July 5, 2024)

Despite President Joe Biden&#8216;s <a href="https://www.benzinga.com/news/24/07/39653890/biden-dismisses-health-concerns-defends-poor-debate-performance-amid-calls-to-withdraw-from-2024-rac">poor performance in the debate</a>, he has gained some traction among voters in swing states, also known as battleground states, according to a new poll released on Saturday.
Best Showing Yet: Former President Donald Trump leads Biden by a 47%-45% margin, a Bloomberg News/Morning Consult tracking poll <a href="https://pro-assets.morningconsult.com/wp-uploads/2024/07/Bloomberg-Election-Tracking-Wave-9-Toplines-Crosstabs.pdf">showed.</a> The pollster noted that the lead has contracted to its smallest margin since the poll began last October. Three percent said they would not vote and 5% said they don&#8217;t know/have no opinion.
The poll surveyed 4,902 registered voters in seven swing states, 781 registered voters in Arizona, 790 in Georgia, 694 in Michigan, 452 in Nevada, 696 in North Carolina, 794 in Pennsylvania and 695 in Wisconsin. The surveys were conducted online from July 1 to July 5. The margin of sampling error was 3 percentage points in Georgia and Pennsylvania, 4 percentage points in Arizona, Michigan, North Carolina, and Wisconsin and 5 percentage points in Nevada.
The poll showed that Biden leads his predecessor in Michigan and Wisconsin, while he trails behind Trump by a margin less than the statistical margin of error in Arizona, Georgia, Nevada and North Carolina.
But in the critical state of Pennsylvania, the president is the farthest behind.
Here&#8217;s the tally for the individual swing states:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>Biden</td>
<td>Trump</td>
</tr>
<tr>
<td>Arizona</td>
<td>45%</td>
<td>48%</td>
</tr>
<tr>
<td>Georgia</td>
<td>46%</td>
<td>47%</td>
</tr>
<tr>
<td>Michigan</td>
<td>48%</td>
<td>43%</td>
</tr>
<tr>
<td>Nevada</td>
<td>45%</td>
<td>48%</td>
</tr>
<tr>
<td>North Carolina</td>
<td>43%</td>
<td>46%</td>
</tr>
<tr>
<td>Pennsylvania</td>
<td>44%</td>
<td>51%</td>
</tr>
<tr>
<td>Wisconsin</td>
<td>47%</td>
<td>44%</td>
</tr>
</tbody>
</table>
</figure>
See Also: <a href="https://www.benzinga.com/news/24/07/39630382/paul-krugman-says-trump-tariffs-will-hurt-80-of-americans-benefit-only-the-top-1-burden-would-fall-o">Paul Krugman Says Trump Tariffs Will Hurt 80% Of Americans, Benefit Only The Top 1%: &#8216;Burden Would Fall On…Working Class And The Poor&#8217;</a>
Reaction To Debate Performance: Swing-state voters rated Biden&#8217;s performance in the first presidential debate as poor, with less than one in five respondents saying he was the more coherent, mentally fit or the dominant participant. 
There have been <a href="https://www.benzinga.com/news/24/07/39655273/biden-under-the-microscope-as-donors-business-leaders-step-up-call-for-him-to-end-race-unfortunately">overt as well as covert calls from Democratic lawmakers, party&#8217;s megadonors and pro-democracy activists for Biden to quit the race</a>. Most voters also shared that same sentiment. Nearly three in 10 Democrats said Biden should drop out of the race. This compares to the merely 9% Republicans who want Trump to end his campaign.
Although results show a &#8220;modest boost&#8221; in concerns about Biden&#8217;s mental acuity, they&#8217;re &#8220;nothing to match the level of alarm expressed by prominent voices in the Democratic Party,&#8221; said Eli Yokley, a political analyst for Morning Consult. &#8220;This suggests the age matter was already baked into most voters' minds: The only difference now is more Democrats are acknowledging it.&#8221;
On debate performance, 52% of the respondents said Trump exceeded expectations, while a more modest 13% said the same about Biden.
Harris The Beneficiary: The percentage of respondents who said Biden should definitely or probably continue his campaign was 39%, compared to 50% saying the same of Trump.
The poll found that large majorities of undecided voters and &#8220;double haters&#8221; expressed opinion that Biden should quit the race, which suggests an alternative candidate could snag support of these two categories.
If Biden were to step aside, Vice President Kamala Harris would be the&nbsp;top choice&nbsp;of swing-state Democrats to replace him, followed by Michigan Governor Gretchen Whitmer, Transportation Secretary Pete Buttigieg and California Governor Gavin Newsom.
Pennsylvania A Pain? Pennsylvania, which has 19 electoral voters, is the largest of the swing states, and could be key for a candidate to get over 270 electoral votes needed to reoccupy the White House. If Biden faces a setback in the Keystone State, apart from Michigan and Wisconsin, he may also have to win at least two other states or even three to clinch re-election, Bloomberg reported.
With Trump&#8217;s campaign spending over $8 million on attack ads in the past month alone, it remains to be seen if Biden can catch up with the former president and win the state, where he is currently trailing by nine points.
Why It&#8217;s Important: The Bloomberg News/Morning Consult poll results are in contrast to many nationwide surveys, which showed Trump pulling ahead of Biden by a wide margin after the debate. The pollster cautioned that its survey results could be an outlier. 
It reasoned that its poll started four days after the debate, later than some national polls, which may have given time for voters to re-evaluate Biden&#8217;s performance. Also, the ad blitz from Biden&#8217;s campaign following the debate may have influenced the results, it added.
The first responses of the poll came after the Supreme Court granted Trump partial immunity. Bloomberg noted that democracy now rivals immigration as the second-biggest concern among swing-state voters. Other major election issues include climate change, abortion, and health care, where Biden scores better than his rival.
Read Next:
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<li><a href="https://www.benzinga.com/money/best-depression-stocks">Best Depression Stocks</a></li>
</ul>
Photo: Shutterstock

Biden Vs. Trump Matchup Shows President Now Trails By Smallest Margin In Key Swing States, Poll Finds Democrats Have Best Chance With This Candidate

Maye Musk, the mother of billionaire Elon Musk, has credited her flexitarian diet as the key to her enduring fitness at the age of 76. She recalls that during her years raising the family on a strict budget in South Africa, Elon Musk <a href="https://www.benzinga.com/news/23/08/33934996/tesla-employees-share-harrowing-tales-of-working-for-elon-musk-elons-coming-out-of-a-room-looking-de">frequently longed for chocolate cereal.</a>
What Happened: Maye Musk, who recently posed for the 2024 Sports Illustrated Swimsuit Issue, attributes her health and vitality to her flexitarian diet. This diet emphasizes plant-based foods but also allows for moderate consumption of meat.
Maye Musk <a href="https://www.foxnews.com/entertainment/elon-musks-mother-maye-says-flexitarian-diet-keeps-her-fit-76">told</a> Fox News that she initially adopted the diet due to financial constraints after her divorce in 1979. 
&#8220;When I got divorced, I couldn't afford to buy meat, fish or chicken,&#8221; Maye Musk recalled. &#8220;So I had to feed my children bean stew.&#8221;
&#8220;I remember Elon saying, ‘I always wanted Coco Pops, but we only got Raisin Bran.&#8217; Well, the thing is, Coco Pops were more expensive and less nutritious, so that's what my children got. And if they complained, I didn't listen,&#8221; she added. 
Also Read: <a href="https://www.benzinga.com/top-stories/22/08/28661279/elon-musks-mother-maye-says-she-sleeps-in-a-garage-when-she-visits-him-1">Elon Musk&#8217;s Mom Says She Sleeps In His &#8216;Garage&#8217; When She Visits The Tesla CEO</a>
Despite humorous complaints from her children about her cooking, Maye Musk continues to follow a primarily vegetarian diet at home, supplemented with fresh fruits and vegetables. 
Maye Musk&#8217;s story serves as an inspiration for many, proving that age is just a number and that a balanced diet and lifestyle can contribute to one&#8217;s overall health and well-being. 
Her flexitarian diet, which is a blend of flexible and vegetarian, emphasizes the importance of plant-based foods while allowing for moderate consumption of meat. 
Now Read: <a href="https://www.benzinga.com/news/23/09/35016865/elon-musks-father-open-to-more-children-despite-age-if-shes-under-35-i-wouldnt-think-twice-about-hav">Elon Musk&#8217;s Father Open To More Children Despite Age: &#8220;If She&#8217;s Under 35, I Wouldn&#8217;t Think Twice About Having Another Child&#8221;</a>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Elon Musk's Mother Recounts Time Her Children Used To Ask For Food She Couldn't Afford After Her Divorce: 'If They Complained, I Didn't Listen'

Cathy Jordan, who credited <a href="https://www.benzinga.com/topic/medical-cannabis">medical marijuana</a> with keeping her alive for decades after being diagnosed with ALS, passed away on July 4 at her South Florida home. She was 74.
Jordan, often referred to as the "patron saint" of <a href="https://www.benzinga.com/topic/florida-cannabis">medical marijuana in Florida</a>, became a prominent advocate for the plant in the late 1990s after she was diagnosed with amyotrophic lateral sclerosis (ALS) in 1986. Also known as Lou Gehrig's Disease, the condition typically has a survival period of two to five years after onset. Remarkably, Jordan lived 38 years post-diagnosis.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39586828/medical-marijuana-for-all-minnesota-empowers-patients-and-doctors-to-determine-eligibility">Cannabis Linked To Diabetes Prevention And Better Blood Sugar Control, New Study Finds</a>
Her turning point came in 1989 during a visit to Florida when a friend introduced her to a strain of cannabis called Myakka Gold, <a href="https://floridaphoenix.com/2024/07/05/cathy-jordan-patron-saint-of-medical-cannabis-in-florida-dies-at-the-age-of-74/#:~:text=Cathy%20Jordan%2C%20who%20credited%20medical,at%20the%20age%20of%2074">reported</a> the Florida Phoenix.
"I smoked it and I felt the disease stop," she told <a href="https://www.benzinga.com/markets/cannabis/21/05/20897802/these-15-famous-weed-quotes-tell-a-compelling-story">Dr. Andrew Weil</a> in a scene shown in the documentary, &#8220;The Cathy Jordan Story.&#8221;  She described how she smuggled cannabis on a plane to Delaware. "I flew home that way, and my husband had a nervous breakdown because I was interstate transporting drugs, but I was convinced I was going to live."
Jordan and her husband, Bob, later relocated to Florida where she continued using cannabis and experiencing significant physical and mental improvements. For 27 years, Jordan was a dedicated activist, pushing for the legalization of medical marijuana in Florida where she served as president of the Florida Cannabis Action Network from 2011 to 2015. 
Her advocacy included numerous trips to Tallahassee to lobby for medical cannabis legalization, despite resistance in the GOP-controlled legislature. In 2013, the "Cathy Jordan Medical Cannabis Act" was introduced but never received a hearing. Around the same time her husband was arrested for cultivating cannabis plants for Cathy's use, though the charges were later dropped.
In 2016, a medical marijuana amendment passed with over 71% approval. Following this, the Florida Legislature enacted a bill in 2017 banning smokable marijuana, prompting a lawsuit in which Jordan testified in 2018, highlighting the necessity of smokable cannabis.
<h2 class="wp-block-heading">Ron DeSantis Steps Into The Fray, In A Good Way</h2>
Elected governor in 2019 <a href="https://www.benzinga.com/topic/ron-desantis">Ron DeSantis</a> acknowledged the law&#8217;s shortcomings and urged the Legislature to repeal the smokable marijuana ban.
"I don't think this [the medical marijuana] law is up to snuff," he said and told Republicans that he wanted the Legislature to repeal the law's ban on smokable pot for sick people.
Reflecting on her journey, Jordan remarked in 2019, "If you had told me 22 years ago that this was going to take 22 years, I may have rethought it," Jordan told <a href="https://baynews9.com/fl/tampa/news/2019/03/19/face-behind-legalizing-medical-marijuana-gets-her-victory" target="_blank" rel="noreferrer noopener">Spectrum Bay News</a> when DeSantis signed legislation allowing smokable cannabis.
Read Next:
<ul>
<li>&#8216;<a href="https://www.benzinga.com/markets/cannabis/24/07/39579929/millions-are-using-cannabis-yet-only-18-labs-are-studying-it-says-johns-hopkins-scientist">Millions Are Using Cannabis Yet Only 18 Labs Are Studying It,&#8217; Says Johns Hopkins Scientist</a></li>
</ul>
Photo: Facebook, courtesy of Cathy Jordan Story

Cannabis

Government

Regulations

Health Care

Legal

'I Smoked It And I Felt The Disease Stop' - Florida's 'Patron Saint' Of Medical Marijuana Cathy Jordan Dies 38 Years After ALS Diagnosis

<a href="https://www.bloomberg.com/news/articles/2024-07-07/paramount-para-board-s-special-committee-approves-skydance-merger?sref=2h1zKciy" title="https://www.bloomberg.com/news/articles/2024-07-07/paramount-para-board-s-special-committee-approves-skydance-merger?sref=2h1zKciy">https://www.bloomberg.com/news/articles/2024-07-07/paramount-para-board-s-special-committee-approves-skydance-merger?sref=2h1zKciy</a>

Bloomberg Reported Earlier: Paramount Board's Special Committee Approves Skydance Merger

A former member of Donald Trump&#8216;s 2016 campaign unveiled texts that implied that multiple lawsuits related to gender discrimination and sexual harassment <a href="https://www.benzinga.com/news/24/06/39565763/as-trump-prepares-for-comeback-latest-pew-poll-reveals-which-presidential-candidate-rest-of-world-pr">were settled by Trump&#8217;s 2020 campaign.</a>
What Happened: A.J. Delgado, an ex-member of Trump&#8217;s team, disclosed the texts in the course of her ongoing discrimination lawsuit against the campaign, according <a href="https://newrepublic.com/post/183468/former-trump-staffer-delgado-texts-secret-payoffs-sexual-harassment">to</a> The New Republic. 
The texts, she claims, were exchanged between her and another former Trump staffer, Jenna Ellis.
In her text to Ellis, Delgado inquired if Ellis was aware of any discrimination or harassment complaints during the 2020 campaign and if any lawsuits were settled. 
Ellis reportedly responded in the affirmative, referencing an individual named &#8220;Boris&#8221; and advising Delgado&#8217;s investigator to subpoena Michael Glassner, a strategist for Trump&#8217;s 2020 campaign.
Several media outlets have speculated that &#8220;Boris&#8221; might be Boris Epshteyn, a senior advisor to Trump&#8217;s 2020 campaign and a current confidante of the ex-president.
Also Read: <a href="https://www.benzinga.com/news/24/07/39657063/trump-gives-unexpected-advice-to-biden-following-disappointing-debate-crooked-joe-biden-should">Trump Gives Unexpected Advice To Biden Following Disappointing Debate: &#8216;Crooked Joe Biden Should &#8230;&#8217;</a>
Delgado previous alleged that Trump&#8217;s 2016 campaign made use of intermediaries to dispense hush-money payments to keep discrimination settlements concealed from the public and the Federal Election Commission.
Relatedly, Trump was found guilty on 34 counts related to falsifying business records for hush-money payments to adult film actress Stormy Daniels during the 2016 election.
Why It Matters: These recent allegations add to the controversies surrounding Trump&#8217;s 2020 campaign. The former president has been under scrutiny for his campaign practices, and these new revelations could potentially impact his political standing. The fact that Trump was convicted for similar offenses adds weight to these allegations.
Trump&#8217;s recent activities, including his self-proclaimed victory in a presidential debate, suggest he continues to maintain a <a href="https://www.benzinga.com/news/24/06/39565609/trump-laments-lack-of-attention-paid-to-the-greatest-debate-performance-he-gave-its-all-about-the-po">high profile in the political arena. </a>
However, the latest allegations may influence public perception and his future political endeavors.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/24/06/39563576/following-debate-latest-poll-among-democrats-signals-major-trouble-for-joe-biden-although-theres-one" target="_blank" rel="noreferrer noopener">Following Debate, Latest Poll Among Democrats Signals Major Trouble For Joe Biden — Although There&#8217;s One Silver Lining</a>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Ex-Trump Staffer Shares Texts To Prove That Ex-President's Campaign Settled To Keep Discrimination And Sexual Harassment Lawsuits Quiet

Elon Musk has stirred the pot by labeling those opposing a bill that necessitates proof of citizenship for <a href="https://www.benzinga.com/news/24/04/38479082/elon-musk-gives-one-word-response-to-joe-bidens-dig-at-donald-trump-at-white-house-correspondents-di">voting in federal elections as &#8220;TRAITORS.&#8221;</a>
What Happened: The bill, dubbed the Safeguard American Voter Eligibility (SAVE) Act, was introduced by House Speaker Mike Johnson, R-La., and initially championed by Rep. Chip Roy, R-Texas. 
The legislation mandates state election officials to verify citizenship before issuing voter registration forms and necessitates individuals to provide proof of citizenship prior to registering to vote in federal elections.
<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">&#x1f9f5;The SAVE Act will safeguard our elections by ensuring only American citizens vote in federal elections. Here's what the legislation does:
&mdash; Speaker Mike Johnson (@SpeakerJohnson) <a href="https://twitter.com/SpeakerJohnson/status/1809318048945566061?ref_src=twsrc%5Etfw">July 5, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
On Friday, Johnson promoted the bill on the social media platform, X, asserting that the SAVE Act will &#8220;safeguard our elections by ensuring only American citizens vote in federal elections.&#8221;
Also Read: <a href="https://www.benzinga.com/news/24/06/39346274/elon-musk-says-donald-trump-calls-him-for-no-reason-i-dont-know-why">Elon Musk Says Donald Trump Calls Him For No Reason: &#8216;I Don&#8217;t Know Why&#8217;</a>
In a response to Johnson&#8217;s posts, Musk declared, &#8220;Those who oppose this are traitors. All Caps: TRAITORS,&#8221; and provocatively asked, &#8220;What is the penalty for traitors again?&#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">Those who oppose this are traitors. All Caps: TRAITORS What is the penalty for traitors again? <a href="https://t.co/lyREyskPv4">https://t.co/lyREyskPv4</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1809374976845156801?ref_src=twsrc%5Etfw">July 5, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The U.S. Constitution outlines that individuals found guilty of treason can be sentenced to death or imprisoned for a minimum of five years, fined at least $10,000, and prohibited from ever holding office in the U.S.
Congress is slated to reconvene in Washington, D.C., on Monday, with the vote on the SAVE Act expected to occur this month.
Why It Matters: Critics of the SAVE Act argue that the legislation is redundant as it is currently illegal for noncitizens to vote in federal elections. They contend that the bill may serve as a barrier to eligible voters, potentially infringing on their rights. 
The controversy surrounding the bill has been further fueled by Musk&#8217;s comments, drawing significant attention to the upcoming vote.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/24/04/38476026/trump-vs-biden-one-candidate-hold-slim-lead-over-other-in-latest-poll" target="_blank" rel="noreferrer noopener">Trump Vs. Biden: One Candidate Hold Slim Lead Over Other In Latest Poll</a>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Elon Musk Says Those Against Bill Requiring Proof Of Citizenship To Vote Should Face Severe Penalty: 'Those Who Oppose This Are Traitors'

Hindenburg Research, led by investigator Nate Anderson, has been entangled in a dispute with Indian billionaire Gautam Adani&#8216;s conglomerate Adani Group.
What Happened: The conflict, which began in January 2023 following accusations of fraud against Adani&#8217;s company, has led to a staggering $153 billion loss in market value. 
Despite the massive impact on the market, Hindenburg Research has only profited to the tune of $4 million from its efforts. The firm, which specializes in &#8220;forensic financial research,&#8221; has been locked in a verbal duel with Adani since the initial accusation.
Business Insider <a href="https://www.businessinsider.in/finance/news/how-a-new-york-short-seller-took-on-one-of-the-worlds-richest-people-wiped-out-150-billion-in-market-value-and-barely-made-any-money/articleshow/111537052.cms">reports</a> that Hindenburg&#8217;s 106-page report, a product of a two-year investigation, alleged financial and accounting irregularities within Adani&#8217;s empire. The report suggested that the Adani Group was involved in stock manipulation and accounting fraud spanning several decades.
In response, Adani Group issued a 413-page rebuttal, categorically dismissing Hindenburg&#8217;s report as false and accusing the research firm of spreading selective misinformation. Adani Group defended its accounting practices and vehemently denied any wrongdoing.
Also Read: <a href="https://www.benzinga.com/news/24/03/38015124/here-are-the-top-us-cities-that-have-the-most-millionaires">Here Are The Top US Cities That Have The Most Millionaires</a>
The Securities and Exchange Board of India, the country&#8217;s regulatory body, has raised questions about the structure of Hindenburg&#8217;s short bet on Adani Group. In June 2024, the regulator sent a notice to Hindenburg, accusing the firm of making misleading and inaccurate statements in its report.
Despite facing regulatory scrutiny, Anderson remains undeterred in his pursuit of exposing financial fraud. He has previously targeted other high-profile financiers and continues his mission to unveil alleged financial misconduct.
Why It Matters: This development is significant as it highlights the power and influence of forensic financial research firms like Hindenburg Research. Despite the backlash from regulatory bodies and the targeted companies, such firms continue to play a crucial role in maintaining transparency and accountability in the financial world.
The case also underscores the potential risks and rewards of short selling. While Hindenburg&#8217;s accusations led to a massive drop in Adani Group&#8217;s market value, the firm&#8217;s own gains have been relatively modest. 
This serves as a reminder of the high-stakes nature of short selling and the importance of thorough research and due diligence.
Now Read: <a href="https://www.benzinga.com/news/22/04/26437031/this-tycoon-just-joined-an-exclusive-10-member-club-with-elon-musk-and-jeff-bezos">This Tycoon Just Joined An Exclusive 10-Member Club With Elon Musk And Jeff Bezos</a>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Hindenburg Research Took On One Of The World's Wealthiest People And Came Away With Little Profit To Show For It

Former U.S. President Donald Trump sarcastically recommended that President Joe Biden disregard the escalating calls for his withdrawal from the presidential race, in the wake of <a href="https://www.benzinga.com/news/24/06/39124499/following-trumps-guilty-verdict-legal-experts-say-he-could-face-this-punishment-instead-of-prison-ti">a disappointing debate performance.</a>
What Happened: Trump shared his advice for Biden on his Truth Social platform on Saturday, urging him to persist with his campaign despite the rising apprehension among Democrats seeking a new candidate.
&#8220;Crooked Joe Biden should ignore his many critics and move forward, with alacrity and strength, with his powerful and far reaching campaign,&#8221; <a href="https://truthsocial.com/@realDonaldTrump/posts/112739741637499662">said</a> the former president. 
&#8220;He should be sharp, precise, and energetic, just like he was in The Debate, in selling his policies of Open Borders (where millions of people, including record numbers of Terrorists, are allowed to enter our Country, from prisons and mental institutions, totally unchecked and unvetted!), to Ending Social Security, Men playing in Women's sports, High Taxes, High Interest Rates, encouraging a Woke Military, Uncontrollable Inflation, Record Setting Crime, Only Electric Vehicles, Subservience to China and other Countries, Endless Wars, putting America Last, losing our Dollar Based Standard, and so much more. Yes, Sleepy Joe should continue his campaign of American Destruction and, MAKE CHINA GREAT AGAIN!" Trump said in his post Saturday,&#8221; he further added. 
Trump&#8217;s remarks followed Biden&#8217;s underwhelming performance at the initial presidential debate on June 27, which sparked worries among voters and Democratic officials regarding Biden&#8217;s cognitive and physical capacity to govern for another term.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/06/39563576/following-debate-latest-poll-among-democrats-signals-major-trouble-for-joe-biden-although-theres-one" target="_blank" rel="noreferrer noopener">Following Debate, Latest Poll Among Democrats Signals Major Trouble For Joe Biden — Although There's One Silver Lining</a>
Despite the backlash, Biden has staunchly rejected any ideas of stepping down and has pledged to remain in the race, asserting he is the best contender to defeat Trump. He also refused to take an independent cognitive test and disclose the results publicly, maintaining he's "fit."
Why It Matters: As Trump gears up for a potential comeback, his strong performance in the recent debate has instilled a sense of urgency among global leaders. This is despite a Pew poll showing that respondents from over 30 countries have more faith in Biden's foreign policy decisions. 
However, the potential for Trump's return to power is being taken seriously. This comes in spite of international audiences expressing more <a href="https://www.benzinga.com/news/24/06/39565763/as-trump-prepares-for-comeback-latest-pew-poll-reveals-which-presidential-candidate-rest-of-world-pr">confidence in President Joe Biden</a>.
With global confidence in Trump at a low, U.S. allies are preparing for an America that might withdraw from global affairs due to policy shifts or internal turmoil.
Now Read: <a href="https://www.benzinga.com/news/24/06/39565047/outside-last-weeks-debate-trump-gained-momentum-with-two-major-developments-for-better-or-worse">Outside Last Week&#8217;s Debate, Trump Gained Momentum With Two Major Supreme Court Developments — For Better Or Worse</a>
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.

Trump Gives Unexpected Advice To Biden Following Disappointing Debate: 'Crooked Joe Biden Should ...'

Bill Gates, co-founder of Microsoft and one of the <a href="https://www.benzinga.com/personal-finance/24/07/39600675/bill-gates-was-the-worlds-richest-man-for-a-record-18-years-his-secret-to-success-saving-like-a-">world's richest individuals</a>, recently addressed the growing wealth gap and advocated for higher taxes on the wealthy, including himself. His comments came during a 2023 <a href="https://www.reddit.com/r/IAmA/s/NocWTXODgB">"Ask Me Anything" (AMA) session</a> on Reddit and in a detailed blog post on Gates Notes.
Don't Miss:
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<li><a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.</li>
<li>Can you guess how many retire with a $5,000,000 nest egg? &#8211;<a href="https://www.benzinga.com/money/retire-5mil-nest-egg"> How does it compare to the average?</a></li>
</ul>
During the AMA session, Gates responded to a question about the skyrocketing cost of living, stagnant wages, and the challenges many people face in merely surviving. The question posed was:
"The cost of living has skyrocketed, and wages are stagnant. A lot of people are effectively in survival mode. How do we get corporations and the ultrawealthy to pay better wages, and pay their taxes? More rather, what steps do we take to create an economy that's beneficial for the masses, not a select few?"
Gates responded, saying, "I am surprised taxes have not been increased more. For example, capital gains rates could be the same as ordinary income rates. I know things are tough for a lot of people."
This statement aligns with the views Gates expressed in his 2019 year-end wrap-up blog post on Gates Notes, where he reflected on the growing wealth gap and proposed several measures to address it. Gates emphasized the increasing disparity in wealth distribution, writing, "The wealth gap is growing. The distance between top and bottom incomes in the United States is much greater than it was 50 years ago." He added, "A few people end up with a great deal — I've been disproportionately rewarded for the work I've done — while many others who work just as hard struggle to get by."
<hr class="wp-block-separator has-alpha-channel-opacity" />
Trending: This city is the clear winner of Zillow's 2024 Home Value Forecast —<a href="https://www.benzinga.com/money/winner-zillow-2024-home-value-forecast"> No surprise as the number of millionaires there grew by 75% in the last decade.</a>
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In the blog post, Gates proposed a range of measures to make higher taxes on the wealthy a reality. He suggested:
<ul>
<li>Raising the capital gains tax to be the same as ordinary income tax rates.</li>
<li>Increasing the estate tax.</li>
<li>Removing the cap on income subject to Medicare taxes.</li>
<li>Closing the carried-interest loophole that allows investors to pay lower taxes.</li>
<li>Taxing large fortunes, particularly those held for long periods, such as 10 years or more.</li>
</ul>
He admitted that these ideas are not unique and have been proposed by many tax policy experts. He also noted their similarity to proposals raised in the Democratic presidential primary but refrained from taking a position on specific campaign proposals.
Gates emphasized that the <a href="https://www.benzinga.com/general/24/03/37459631/warren-buffett-proposed-a-way-to-ensure-anybody-whos-willing-to-work-40-hours-a-week-has-a-decent-li">current system favors wealth</a> over work without justification and argued against a dynastic system where vast wealth can be passed to children, as it does not incentivize the next generation to work hard and contribute to the economy.
President Biden has proposed a "billionaire tax" as part of his 2025 budget plan. This would impose a 25% tax on individuals with over $100 million in wealth. However, this is still a proposal and has not been implemented.
Gates' consistent advocacy for higher taxes on the wealthy highlights his commitment to addressing the growing wealth gap and creating an economy that benefits the masses rather than a select few. While individuals may not be able to change what billionaires pay in taxes, <a href="https://www.benzinga.com/money/smartasset">consulting a financial advisor</a> can provide valuable insights and help navigate the complexities of the current economic system.
Read Next:
<ul>
<li>The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?</li>
<li>Warren Buffett flipped his neighbor's $67,000 life savings into a $50 million fortune —<a href="https://www.benzinga.com/money/advisor-adv-warren-buffett"> How much is that worth today?</a></li>
</ul>

Personal Finance

Bill Gates Wants To Pay More In Taxes — 'I've Been Disproportionately Rewarded While Many Others Who Work Just As Hard Struggle To Get By'

Bechtle AG reports Q3 results

Bechtle AG (BECTY) Q3 2023 Earnings Call Transcript

A Hidden German Champion: Bechtle AG

Bechtle AG (BECTY) Q1 2024 Earnings Call Transcript

BHTLF

Bechtle

<ul>
	<li>Chart Industries, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GTLS#NYSE">GTLS</a>) has received additional&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/03/g26017726/chart-industries-inc-receives-additional-limited-notice-to-proceed-for-chenieres-corpus-christi-st" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">limited notice to proceed</a>&nbsp;(LNTP) for their IPMSR process and equipment activities to be used in&nbsp;Cheniere Energy Inc&#39;s&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LNG#NYSE">LNG</a>) Corpus Christi Stage Three liquefied natural gas (LNG)&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/03/b26016738/cheniere-signs-epc-contract-with-bechtel-for-the-corpus-christi-stage-iii-project-and-issues-limit" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">export terminal project</a>.</li>
	<li>Chart Industries booked an order of $47.5 million for the project from&nbsp;Bechtle AG&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/BECTY#OTC">BECTY</a>).</li>
	<li>The company will begin recognizing revenue on this project in 2022 with a multi-year staggered delivery schedule.</li>
	<li>Price Action:&nbsp;GTLS shares are trading higher by 1.39% at $145.78 on the last check Monday.</li>
</ul>

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Bechtle

News

Latest news for Bechtle (OTC:BECTY) Stock

Monday, March 07, 2022