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The cryptocurrency market witnessed a sizable jump over the last week, with some unconventional meme coins taking the lead over market heavyweights.
What happened: Parody coin SPX6900 emerged as the market's top performer, rallying over 66% in the last seven days. Available on both Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), the cryptocurrency hit an all-time high of $1.55 on Sunday.&nbsp;
The coin that aims to surpass the market capitalization of the mammoth S&amp;P 500 index was also 2024's <a href="https://www.benzinga.com/24/12/42717267/2024s-cryptocurrency-champions-these-top-performers-surpass-bitcoin-in-a-year-of-unprecedented-gains">second-biggest gainer</a>, returning 10795% to its investors.
Fartcoin was the second-best-performing cryptocurrency, surging 64% over the previous week. The Solana-based coin hit an all-time high of $1.52 earlier this week, marking a rather eccentric journey from <a href="https://www.benzinga.com/25/01/42780221/from-giggles-to-gains-fartcoin-hits-new-all-time-high-equals-papa-johns-valuation">giggles to gains</a>
AIOZ token, belonging to the AIOZ Network, gained an impressive 39.35%, implying a market for technology-driven cryptocurrencies as well. AIOZ Network operates on a blockchain that supports Web3 storage, decentralized AI computation, and video streaming.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price </td>
</tr>
<tr>
<td>SPX6900 (SPX)</td>
<td>+66.97%</td>
<td>$1.49</td>
</tr>
<tr>
<td>Fartcoin (FARTCOIN)</td>
<td>+64.28%</td>
<td>$1.39</td>
</tr>
<tr>
<td>AIOZ Network (AIOZ)</td>
<td>+39.35%</td>
<td>$1.13</td>
</tr>
</tbody>
</table>
</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"> &#8216;Pharma Bro&#8217; Martin Shkreli Predicts Liquidation Doom For MicroStrategy Amid Fall Below $300, Says Bitcoin Will Hit $250K Without Michael Saylor</a>
Blue-chip currencies also marched upward, marking a good start to 2025. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) gained 6.51% while Ethereum, the second-largest cryptocurrency, rose over 8% over the week.
Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), and Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>) were the biggest gainers in the large-cap category, surging 21.78%, 15.56%, and 21.78%, respectively.
Overall, the total cryptocurrency market capitalization rose 7.3% over the week to $3.52 trillion.
Photo by CMP_NZ on Shutterstock
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

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$ADA

$BTC

$DOGE

$ETH

$SOL

$XRP

Bitcoin, Ethereum Made Rapid Strides Last Week But SPX6900, Fartcoin Stole The Limelight With Biggest Gains

New York City is poised to become the first U.S. city to implement congestion pricing, with drivers facing new tolls to enter Manhattan&#8217;s central business district starting Sunday. The groundbreaking initiative aims to tackle urban congestion and fund public transit improvements.
Under the plan championed by Gov. Kathy Hochul, passenger vehicles with E-ZPass will pay $9 during peak hours (5 a.m. to 9 p.m. weekdays, 9 a.m. to 9 p.m. weekends) to enter Manhattan south of Central Park. Non-E-ZPass users will pay $13.50. Overnight rates drop to $2.25 and $3.30 respectively, <a href="https://apnews.com/article/new-york-congestion-tolls-123ad0724cddfd061fb3e5a573d8417a">reported</a> Associated Press.
The program follows successful models in London, Stockholm, and Singapore. While environmental and transit advocates support the measure for its potential to reduce pollution and fund mass transit, it has faced legal challenges, including a recent unsuccessful attempt by New Jersey to block implementation.
Some relief is available through credits of up to $3 for drivers using major tunnels and bridges. The plan also offers exemptions for emergency vehicles and people with disabilities, while low-income drivers can qualify for 50% discounts after ten monthly trips.
For-hire vehicle passengers will pay surcharges ranging from 75 cents for taxis to $1.50 for rideshare services like Uber Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) and Lyft Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>).
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<li><a href="https://www.benzinga.com/markets/equities/25/01/42806823/waymo-robotaxi-circles-phoenix-airport-parking-lot-passengers-get-a-bonus-tour-they-didnt-ask-for">Waymo Robotaxi Circles Phoenix Airport Parking Lot, Passengers Get A Bonus Tour They Didn&#8217;t Ask For</a></li>
</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Global

LYFT

UBER

New York City's Historic Congestion Pricing Starts Sunday, Uber And Lyft Passengers To Pay For Entering Manhattan

Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has decided to temporarily pause construction on parts of its <a href="https://www.benzinga.com/news/23/12/36374852/microsoft-just-paid-76m-for-a-pumpkin-farm-in-wisconsin-heres-why">ambitious data center project</a> in Mount Pleasant.
What Happened: Earlier this week, the company said that it still plans to complete the first phase of the data center, with a total investment of $3.3 billion expected by the end of 2026, <a href="https://www.wpr.org/economy/microsoft-pauses-construction-on-portions-of-mount-pleasant-project">reported</a> Wisconsin Public Radio.
"We have paused early construction work for this second phase while we evaluate scope and recent changes in technology and consider how this might impact the design of our facilities," a Microsoft spokesperson told the publication.
See Also: <a href="https://www.benzinga.com/25/01/42758213/cathie-woods-ark-invest-predicts-explosive-growth-in-2025-innovation-is-going-to-scale-dramatically-as-the-economy-begins-to-get-rid-of-regulations-under-this-new-administration?itm_source=parsely-api">Cathie Wood&#8217;s Ark Invest Predicts Explosive Growth In New Year: Crypto, Robotics, AI And Other Prediction</a>
The AI data center in Wisconsin was expected to be used by ChatGPT-parent OpenAI for a massive supercomputer, according to The Information.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Microsoft paused some construction on a Wisconsin AI data center that OpenAI is slated to used. The company said it needs to evaluate "scope and recent changes in technology," as well as how "this might impact the design of our facilities."<a href="https://t.co/7uhMPiCI16">https://t.co/7uhMPiCI16</a>
&mdash; Anissa Gardizy (@anissagardizy8) <a href="https://twitter.com/anissagardizy8/status/1876014434424123724?ref_src=twsrc%5Etfw">January 5, 2025</a></blockquote>
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Sean Ryan, representing the village of Mount Pleasant, confirmed the pause is to integrate new data center designs. He noted that the first phase is on track for completion this year.
Microsoft did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga's</a> request for comments.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: The decision to pause construction comes as Microsoft is heavily <a href="https://www.benzinga.com/25/01/42801720/microsoft-to-invest-80-billion-in-ai-data-centers-for-fiscal-2025">investing in data centers</a> to support its growing focus on artificial intelligence.
The company has announced plans to <a href="https://www.benzinga.com/25/01/42801720/microsoft-to-invest-80-billion-in-ai-data-centers-for-fiscal-2025">allocate approximately $80 billion</a> in fiscal 2025 toward developing data centers for AI model training and deploying AI and cloud-based applications.
The Mount Pleasant site was initially optioned for a Foxconn (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FXCOF#OTC">FXCOF</a>) megaproject that was later abandoned. Foxconn had promised a $10 billion investment in Mount Pleasant but the company later scaled back, reducing the investment to $672 million.
Price Action: Microsoft's stock rose by 1.14% on Friday, closing at $423.35. Over the past year, Microsoft shares gained 15.12%, trailing behind the Nasdaq 100, which surged 30.79% during the same period, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">data from Benzinga Pro</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Photo Courtesy: Shutterstock.com
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<li><a href="https://www.benzinga.com/tech/25/01/42758112/jeff-bezos-booby-trapped-his-childhood-home-to-keep-out-pesky-siblings-but-later-convinced-them-to-invest-10000-each-in-amazon-how-did-it-turn-out-for-them?itm_source=parsely-api">Jeff Bezos Booby-Trapped His Childhood Home To Keep Out Pesky Siblings—But Later Convinced Them to Invest $10,000 Each In Amazon: How Did It Turn Out For Them?</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tech

Media

FXCOF

MSFT

Microsoft Pauses Construction On $3.3 Billion Data Center Expected To Be Used By ChatGPT-Parent OpenAI For Massive Super Computer

A Waymo robotaxi passenger&#8217;s trip to Phoenix Sky Harbor International Airport hit a snag when the autonomous vehicle, operated by Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), became stuck circling a parking lot roundabout for several minutes, highlighting ongoing challenges in self-driving technology deployment.
What Happened: The incident, documented by passenger Mike Johns on TikTok and <a href="https://www.abc15.com/news/local-news/investigations/what-happens-when-a-waymo-gets-confused">reported</a> by ABC15, resulted in a five-minute delay and a refunded trip. 
This event comes as Waymo reports significant growth, providing over 150,000 weekly paid trips across its network &#8211; a tripling of service since June. The company recently announced expansion <a href="https://www.benzinga.com/tech/24/12/42523474/alphabets-waymo-expands-global-reach-with-tokyo-robotaxi-testing-eyes-left-hand-traffic-challenges">plans to Tokyo in early 2025</a> and Miami in 2026, while maintaining Phoenix as its largest operating area at 315 square miles.
The incident follows Waymo&#8217;s recent safety report with Swiss Re, showing an 88% reduction in property damage claims and a 92% reduction in bodily injury claims compared to human drivers over 25.3 million miles. However, the National Highway Traffic Safety Administration is investigating 31 reports of crashes and alleged traffic violations involving Waymo vehicles.
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<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This passenger was stuck in a loop while trying to take a Waymo to the airport. ABC15&#39;s Adam Mintzer spoke to the man about his experience. <a href="https://t.co/QdI8m39ynO">pic.twitter.com/QdI8m39ynO</a>
&mdash; ABC15 Arizona (@abc15) <a href="https://twitter.com/abc15/status/1876026022258258044?ref_src=twsrc%5Etfw">January 5, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/25/01/42804461/sanders-backs-trumps-credit-cap-carters-passing-trumps-response-to-nola-attack-and-more-this-week-in-politics">Sanders Backs Trump&#8217;s Credit Cap, Carter&#8217;s Passing, Trump&#8217;s Response To NOLA Attack And More: This Week In Politics</a>
Why It Matters: The timing is particularly noteworthy as competitor General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) recently shuttered its Cruise autonomous unit following a serious accident in October 2023. GM has shifted <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42425386/general-motors-stock-is-rising-after-the-bell-whats-driving-the-action">focus to combining its autonomous</a> and assisted driving development for personal vehicles rather than robotaxis.
Despite the roundabout incident, Waymo CEO Sundar Pichai remains confident in the technology&#8217;s progress, recently identifying Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) as their main competitor in the <a href="https://www.benzinga.com/24/12/42503675/alphabet-ceo-sundar-pichai-names-tesla-as-main-competitior-to-its-waymo-robotaxi-unit">autonomous driving space</a>. 
&#8220;Obviously Tesla is a leader in the space. It looks to me like Tesla and Waymo are the top two,&#8221; Pichai said at The New York Times DealBook summit.
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<li><a href="https://www.benzinga.com/news/mid-cap/25/01/42804971/rigetti-computing-veon-and-intuitive-machines-are-among-top-mid-cap-gainers-last-week-dec-30-jan-3-are-the-others-in-your-portfolio">Rigetti Computing, VEON And Intuitive Machines Are Among Top Mid-Cap Gainers Last Week (Dec 30-Jan 3): Are The Others In Your Portfolio?</a></li>
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Photo courtesy: Waymo
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

GOOG

GOOGL

TSLA

Waymo Robotaxi Circles Phoenix Airport Parking Lot, Passengers Get A Bonus Tour They Didn't Ask For

Melania Trump is set to executive produce a new documentary on Amazon.com, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Prime Video, offering a rare glimpse into her life and influence in Donald Trump&#8217;s political sphere.&nbsp;
What Happened: The documentary began filming in December 2024 and is expected to be released in mid-2025, <a href="https://edition.cnn.com/2025/01/05/politics/melania-trump-amazon-documentary/index.html">reported</a> CNN.
The project, directed by Brett Ratner, marks his first major work since 2017. Ratner faced allegations of sexual misconduct, which he has denied.
The documentary will be available both theatrically and on streaming platforms.
See Also: <a href="https://www.benzinga.com/tech/25/01/42779753/mark-zuckerbergs-meta-replaces-global-affairs-chief-nick-clegg-with-republican-joel-kaplan-ahead-of-trump-inauguration?itm_source=parsely-api">Mark Zuckerberg&#8217;s Meta Replaces Global Affairs Chief Nick Clegg With Republican Joel Kaplan Ahead Of Trump Inauguration</a>
"Prime Video will be sharing more details on the project as filming progresses and release plans are finalized. We are excited to share this truly unique story with our millions of customers around the world," an Amazon spokesperson told the publication.
Amazon did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga's</a> request for comments.
Melania Trump, who last year published a <a href="https://www.benzinga.com/news/24/09/41086412/elon-musk-joins-donald-trump-in-congratulating-former-first-lady-after-her-book-melania-becomes-a-be">bestselling autobiography</a>, is not expected to reside full-time in Washington after Donald Trump&#8217;s inauguration, the report noted.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: Prime Video isn't the only platform that has leveraged the popularity of politicians and celebrities.
Netflix Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) "The Crown," which chronicles the reign of Queen Elizabeth II, has <a href="https://www.benzinga.com/general/entertainment/22/09/28871919/viewership-for-the-crown-surges-after-queen-elizabeths-death-whats-next-for-the-emmy-award-">received massive viewership</a>. The streaming last year also announced <a href="https://www.benzinga.com/general/entertainment/24/04/38237862/meghan-markle-prince-harry-line-up-new-projects-with-netflix-heres-what-the-shows-are-about">two new projects</a> featuring Prince Harry and Meghan Markle.
Last year in June, Evercore&#8217;s survey <a href="https://www.businessinsider.com/amazon-high-prime-video-viewership-netflix-comparison-evercore-survey-2024-6">revealed</a> that Prime Video boasts an impressive 75% satisfaction rating, surpassing Netflix's 61%.
However, a December 2024 Evercore survey indicated that Netflix has further extended its lead in content quality compared to Walt Disney Co.'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) Disney+ and Amazon Prime Video.
Price Action: Amazon&#8217;s stock increased by 1.80% on Friday, finishing at $224.19. Last year, Amazon shares jumped 54.36%, as per <a href="https://benzinga.grsm.io/lxquj26b2sag">data from Benzinga Pro</a>.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Photo Courtesy: Evan El-Amin On Shutterstock.com
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Entertainment

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Melania Trump To Produce Upcoming Amazon Prime Documentary About Her Life and Influence In Trump Political Universe

Cryptocurrency analyst James Van Straten noted Sunday that Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) supply held by long-term holders has reached a bottom and the accumulation period could potentially begin.
What Happened: Van Straten took to X to share his insights on Bitcoin&#8217;s supply and market trends. He noted that the market has absorbed 1,098,490 BTCs and suggested that the long-term holder supply has likely reached its lowest point. 
&#8220;Supply has now grown over the past week and should now rise from here, &#8221; Van Straten predicted.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The market has now absorbed &#8211; 1,098,490 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>. I think <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> LTH supply has bottomed out. Supply has now grown over the past week and should now rise from here. 155 days ago was Aug. 3, which was 2 days prior to the Yen Carry Trade Unwind bottom. BTC dropped from $70k to… <a href="https://t.co/xufkTdwIFu">pic.twitter.com/xufkTdwIFu</a>
&mdash; James Van Straten (@btcjvs) <a href="https://twitter.com/btcjvs/status/1875930908655497221?ref_src=twsrc%5Etfw">January 5, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42805470/shiba-inus-2133-burn-rate-surge-followed-by-10-price-rise-whats-happening">Shiba Inu&#8217;s 2,133% Burn Rate Surge Followed by 10% Price Rise: What&#8217;s Happening?</a>
Most analytics firms recognize long-term holders as addresses that have held Bitcoin for 155 days or more.
Van Straten reflected on past market trends, mentioning a significant drop in Bitcoin&#8217;s value from $70,000 to $49,000 that occurred 155 days ago, coinciding with the <a href="https://www.benzinga.com/markets/asia/24/08/40154219/what-investors-should-know-about-yen-carry-trade-unwinding-that-is-sending-global-markets-into-a-tai">Yen carry trade unwind</a>. He pointed out that investors who bought Bitcoin at those subdued prices would have seen a 100% increase in their investments by now.
Why It Matters: Van Straten&#8217;s observations come as Bitcoin&#8217;s long-term holder balance rose by 0.06% in the last 24 hours, <a href="https://app.intotheblock.com/">according</a> to IntoTheBlock. Additionally, over $137 million worth of Bitcoin left exchanges, signaling a preference to HODL.
Long-term holders are frequently viewed as &#8220;diamond hands&#8221; and more experienced investors. This cohort tends to accumulate cheap coins during weak trends and distribute them amid bull market strength.
Price Action: At the time of writing, Bitcoin was exchanging hands at $98,917.76, up 0.79% 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.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. 
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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.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

Bitcoin Accumulation By 'Diamond Hands' Could Increase In Days Ahead, Says Analyst: 'BTC Long-Term Holder Supply Has Bottomed Out'

Canadian Prime Minister Justin Trudeau is reportedly preparing to resign as the leader of the Liberal Party. An official announcement is expected to be made as early as Monday.
What Happened: A report by Reuters, citing Canadian newspaper The Globe and Mail, on Sunday suggests that Trudeau&#8217;s resignation could come ahead of a pivotal national caucus meeting on Wednesday. The specifics of Trudeau&#8217;s exit, including whether he will step down immediately or wait for a successor, remain unclear.
Insiders who spoke to The Globe and Mail could not confirm if Finance Minister&nbsp;Dominic LeBlanc&nbsp;would be willing to serve&nbsp;as interim leader and prime&nbsp;minister, particularly if he intends to vie for the leadership.
Trudeau&#8217;s resignation comes at a crucial juncture for the Liberal Party, which is expected to face a significant loss to the Conservatives in the forthcoming election, due by late October. His exit could prompt calls for an expedited election to establish a government capable of managing the administration of President-elect Donald Trump over the next four years.
See Also: <a href="https://www.benzinga.com/news/24/12/42714402/elon-musk-weighs-in-on-maga-divide-urges-gop-to-purge-contemptible-fools?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Weighs In On MAGA Divide, Urges GOP To Remove ‘Contemptible Fools' Completely</a>
Why It Matters: Trudeau&#8217;s decision to step down comes on the heels of tense discussions with President-elect Donald Trump. In a high-stakes dinner in late November, Trudeau warned Trump about the <a href="https://www.benzinga.com/media/24/11/42252924/canadian-pm-justin-trudeau-warns-trumps-25-tariff-plan-will-hurt-americans-at-high-stakes-dinner">potential negative impacts</a> of his proposed 25% tariff plan on American and Canadian citizens.
Following the dinner, Trump <a href="https://www.benzinga.com/news/24/12/42409527/trump-humorously-calls-justin-trudeau-as-governor-days-after-floating-idea-of-canada-dodging-tariffs-as-51st-state-of-america">humorously referred</a> to Trudeau as the "Governor of the Great State of Canada," expressing enthusiasm about future meetings and stating that the results of their talks would be "truly spectacular for all."
Photo by Art Babych on Shutterstock
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<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</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>

Politics

General

Justin Trudeau Set To Resign As Prime Minister Of Canada: Report

Pro-cryptocurrency attorney John Deaton expressed his willingness on Sunday to&nbsp;lead a federal investigation into the so-called &nbsp;"Operation Choke Point 2.0&#8243; without any salary, a task he deemed an &#8220;honor and privilege.&#8221;
What Happened: Deaton took to X to voice his concerns about ChokePoint 2.0, an <a href="https://www.benzinga.com/markets/cryptocurrency/23/04/31695013/linking-signature-bank-collapse-to-crypto-exposure-ludicrous-says-ny-finance-regulator">alleged initiative</a> undertaken by the U.S. government to limit the cryptocurrency industry&#8217;s access to banking services. 
He emphasized the sensitivity of the issue, stating that it goes beyond digital assets and banking charters and one that affects the very foundations of free market capitalism.
&#8220;When lawful businesses are cut off from essential financial services based on political agendas rather than established law, it doesn't just stifle one industry &#8211; it sets a dangerous precedent that threatens America's ability to remain a global leader in economic progress and innovation,&#8221; said Deaton, a strong backer of Ripple Labs (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) in its <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37217615/crypto-crusader-john-deaton-battles-critic-elizabeth-warren-in-high-stakes-senate-race">ongoing tussle</a> with the SEC.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">As a former prosecutor and Special Assistant United States Attorney I am very serious about volunteering to help lead a federal investigation into ChokePoint 2.0. I would accept the task without salary. The American people deserve the truth a hell of a lot more than I or anyone… <a href="https://t.co/LFdhpCixnr">https://t.co/LFdhpCixnr</a>
&mdash; John E Deaton (@JohnEDeaton1) <a href="https://twitter.com/JohnEDeaton1/status/1875619679114244416?ref_src=twsrc%5Etfw">January 4, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Deaton also mentioned the <a href="https://www.benzinga.com/markets/cryptocurrency/23/08/34125139/30-people-to-watch-in-web3-caitlin-long-ride-or-die-for-cryptos-future-at-a-regulatory-lev">ongoing legal battle</a> between the cryptocurrency-friendly Custodia Bank and the Federal Reserve over delays in obtaining a&nbsp;master account from the central bank, describing it as &#8220;the most important filed case&#8221; involving free market capitalism.
The attorney tagged the X accounts of President-elect Donald Trump and other key members of his upcoming administration, urging them to take the issue seriously.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42804970/dogecoin-to-hit-one-dollar-milestone-this-year-says-this-analyst">Dogecoin To Hit One Dollar Milestone This Year, Says This Analyst</a>
Why It Matters: Deaton has been an outspoken critic of the Joe Biden administration&#8217;s regulatory policies, accusing them of hindering the cryptocurrency industry.
He <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41350336/elizabeth-warren-says-rival-john-deaton-wants-to-go-to-washington-to-fight-for-his-crypto-">unsuccessfully bid</a> for the Massachusetts Senate against Democratic rival Sen.&nbsp;Elizabeth Warren (D-Mass.), who is typically seen as an anti-cryptocurrency crusader.
Deaton's campaign received significant financial support from prominent cryptocurrency industry figures, including the Winklevoss twins, <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39852340/elizabeth-warrens-opponent-gets-a-1m-donation-in-bitcoin-from-winklevoss-twins-spent-the-l" target="_blank" rel="noreferrer noopener">who donated $1 million</a> in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) to the attorney. 
Photos courtesy: Gage Skidmore via Flickr and John Deaton Campaign
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<li><a href="https://www.benzinga.com/news/legal/25/01/42805364/financial-crime-weekly-4-3-billion-paid-to-bernie-madoff-ponzi-scheme-victims-do-kwon-pleads-not-guilty">Financial Crime Weekly: $4.3 Billion Paid To Bernie Madoff Ponzi Scheme Victims, Do Kwon Pleads Not Guilty</a></li>
</ul>

Former Elizabeth Warren Challenger Offers To Lead Federal Probe Into Government's Attempt To Choke Crypto Banking Access

Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) CEO Lourenco Goncalves repeatedly predicted President Joe Biden would block Nippon Steel Corp.&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NPSCY#OTC">NPSCY</a>) <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/42792034/biden-blocks-us-steel-deal-whats-next-for-x-stock">proposed $14.9 billion acquisition</a> of United States Steel Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) months before it happened, according to documents submitted to federal regulators.
In at least nine investor calls throughout 2024, Goncalves, whose company&#8217;s own $7 billion bid for U.S. Steel was rejected in August 2023, expressed confidence the deal would fail, reported Reuters on Sunday. 
&#8220;I can&#8217;t force U.S. Steel to sell to me, but I can work my magic to make a deal that I don&#8217;t agree with not to close,&#8221; he told investors during a JP Morgan conference on Mar. 13, according to a letter from Nippon Steel&#8217;s lawyers to CFIUS.
The revelation comes after Biden blocked the Japanese steelmaker&#8217;s bid on Mar. 14, citing national security concerns. The White House stated Goncalves&#8217; comments did not influence the decision. Cleveland-Cliffs and Goncalves declined to comment on the matter.
The deal faced mounting political pressure, with both Biden and President-elect Donald Trump opposing foreign ownership of U.S. Steel, particularly after the United Steelworkers union expressed concerns. U.S. Steel said it will continue fighting for the deal.
Price Action: United States Steel Corp. closed at $30.47 on Friday, down 6.53% for the day. In after-hours trading, the stock slightly recovered by 1.08%. Over the past year, U.S. Steel&#8217;s stock has fallen by 36.98%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>. Nippon Steel Corp. is currently trading at 3,150 JPY, down 1.01% at the time of writing this article.
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</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

NPSCY

Cleveland-Cliffs CEO Predicted Biden's Block $14.9B Nippon Steel-US Steel Deal Months Before Action

Elon Musk is reportedly gearing up to introduce a new Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and cryptocurrency feature called "X Money" on his rebranded platform, X, formerly Twitter.
What Happened: According to a leak reported by influencer Alex Finn and MacRumors contributing researcher Aaron Perris on Friday, "X Money" might launch without needing approval from all 50 states.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f6a8;BREAKING: X PAYMENTS LAUNCHING IMMINENTLY New X code has just shipped that reveals X Payments will launch WITHOUT approval from all 50 states Meaning X Payments could launch TODAY Creators could start earning WAY MORE money immediately States it will be available: 1.… <a href="https://t.co/8Wej1XrIQK">pic.twitter.com/8Wej1XrIQK</a>
&mdash; Alex Finn (@AlexFinnX) <a href="https://twitter.com/AlexFinnX/status/1874916936032870834?ref_src=twsrc%5Etfw">January 2, 2025</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It seems like X plans to launch X money in the US before getting approval in all 50 states <a href="https://t.co/M8QBHf3U6S">pic.twitter.com/M8QBHf3U6S</a>
&mdash; Aaron (@aaronp613) <a href="https://twitter.com/aaronp613/status/1874898592181436658?ref_src=twsrc%5Etfw">January 2, 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/25/01/42780776/is-apple-ready-for-a-new-challenge-chinas-smartphone-subsidies-aim-to-boost-domestic-demand-giving-companies-like-huawei-the-upper-hand?itm_source=parsely-api">Apple Rival Huawei, Alibaba And Others Get Boost As China Doles Out Subsidies To Smartphone Buyers</a>
X CEO Linda Yaccarino said earlier this week that payments, including &#8216;X Money,&#8217; will be <a href="https://www.benzinga.com/general/education/25/01/42794433/if-you-invested-1000-in-dogecoin-when-elon-musk-acquired-twitter-heres-how-much-youd-have-now">integrated into the platform</a> in 2025. The idea behind it is to transform X into an &#8220;everything app&#8221; similar to Tencent Holdings Limited&#8217;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) WeChat.
X payments' support for cryptocurrency could potentially trigger a bitcoin price surge similar to PayPal Holdings Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) 2021 crypto support, <a href="https://www.forbes.com/sites/digital-assets/2025/01/05/x-money-leak-reveals-elon-musks-game-changing-plan-as-bitcoin-nears-100000-price/">noted</a> Forbes.
Bitcoin&#8217;s value currently hovers around the $100,000 mark. The apex cryptocurrency touched an all-time high of $108,268.45 on Dec. 17, 2024. 
Why It Matters: The potential launch of &#8216;X Money&#8217; comes amid a series of events that have kept Musk in the crypto spotlight.
Last month, <a href="https://www.benzinga.com/24/12/42739155/elon-musk-changes-his-name-to-kekius-maximus-on-x-sending-to-memecoin-skyrocketing-over-600">Musk changed his name</a> on X to &#8220;Kekius Maximus,&#8221; causing a similarly-named meme coin, Kekius Maximus (KEKIUS), to skyrocket over 600% in value. However, KEKIUS<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42758291/elon-musks-return-to-original-x-avatar-causes-coin-themed-on-kekius-maximus-to-crash-90-frog-themed-pepe-slips-as-well"> crashed by 90%</a> when Musk reverted to his original avatar in January.
Musk&#8217;s influence in the crypto market also became evident when an adult-themed meme <a href="https://www.benzinga.com/25/01/42780378/elon-musks-x-post-now-sends-this-adult-themed-crypto-up-175">coin surged 175% after he</a> referenced it in a post on X.
While Musk has not directly commented on Bitcoin recently, his support for Donald Trump in the upcoming U.S. presidential election has been linked to rising Bitcoin prices.
His role as an influential advisor to the President-elect has also fueled speculation about the creation of a <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42378618/musk-fuels-speculation-on-us-bitcoin-reserve-as-crypto-surges">U.S. Bitcoin strategic reserve</a>.
Price Action: Bitcoin is currently priced at $98,247, reflecting a 0.17% increase over the past 24 hours. Its trading volume has risen by 2.45%, reaching $21.52 billion, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Photo Courtesy: Shutterstock.com
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

PYPL

TCEHY

Elon Musk's Push For Crypto-Powered 'Everything App' Reflected In 'X Money' Leak As Bitcoin Hovers Around $100K

Leading cryptocurrencies were rangebound Sunday as investors awaited fresh macroeconomic data to assess investments in riskier markets.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+0.20%</td>
<td>$98,435.33</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>-0.44%</td>
<td>$3,644.50</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>-3.07%</td>
<td>$0.3819</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin saw choppy movement, oscillating between $98,700 and $97,300. The world's leading cryptocurrency has regained momentum since New Year, resulting in weekly gains of 4.59%.
Ethereum also stagnated at around the $3,600 level. The coin has endured weeks of corrective action since hitting $4,000 last month.
About $136 million was liquidated from the cryptocurrency market in the last 24 hours, with long positions accounting for 66% of the total.
Bitcoin's Open Interest rose by 0.48%, indicating speculative interest for the leading asset.
That said, the Long/Short Ratio dropped in the last 24 hours, suggesting expectations of further decline in prices.
Market sentiment entered the "Extreme Greed" zone, according to the Crypto Fear &amp; Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Movement (MOVE)</td>
<td>+12.10%</td>
<td>$1.11</td>
</tr>
<tr>
<td>SPX6900 (SPX)</td>
<td>+11.27%</td>
<td>$1.49</td>
</tr>
<tr>
<td>Injective (INJ)</td>
<td>+7.50%</td>
<td>$25.54</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.49 trillion, following a marginal drop of 0.31% in the last 24 hours.
Stock futures edged slightly lower on Sunday evening. The Dow Jones Industrial Average Futures fell 33 points, or 0.08%, as of 7:45 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 dipped 0.07%, while Nasdaq 100 Futures slid 0.08%.
Investors will keep their eyes peeled on the upcoming <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36506821/why-the-december-jobs-report-is-a-crucial-indicator-for-us-economys-trajectory">December jobs report</a>, due on Friday, for hints about the market&#8217;s outlook and the Federal Reserve&#8217;s rate-cut plans.
The NYSE and NASDAQ <a href="https://www.benzinga.com/24/12/42725647/markets-will-close-for-president-jimmy-carters-state-funeral-what-you-need-to-know">will be closed</a> on Thursday to honor former President Jimmy Carter, who died at 100.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Widely followed cryptocurrency analyst Rekt Capital said Bitcoin was back to its previously lost support area of $97,000-$98,000 and the technical uptrend.
"If Bitcoin weekly closes inside this blue area, there&#8217;ll be a good chance of reclaiming that previously lost support into support once again," the analyst remarked.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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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> Since confirming additional downside, Bitcoin dropped into the ~$91000 Weekly support before reversing to the upside Bitcoin is now back at the previously lost support area that is the blue Order Block ($97k-$98k) and the previously lost technical uptrend (orange) If… <a href="https://t.co/qMf2hJz2g6">https://t.co/qMf2hJz2g6</a> <a href="https://t.co/MOdXEmWhwF">pic.twitter.com/MOdXEmWhwF</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1875954197067399207?ref_src=twsrc%5Etfw">January 5, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Well-known on-chain analyst Ali Martinez called attention to Ethereum's strong move in the ascending parallel channel, painting a target of as much as $6,000.
An ascending parallel channel is a pattern of two parallel lines that slope upward, connecting higher highs and lows. It indicates a bullish trend.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Despite the volatility, <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> is holding strong within an ascending parallel channel, pointing towards $6,000! <a href="https://t.co/GKrHvv9mkA">pic.twitter.com/GKrHvv9mkA</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1875854504958320844?ref_src=twsrc%5Etfw">January 5, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
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</ul>

Bitcoin, Ethereum, Dogecoin Remain Muffled As Investors Await Jobs Data: Top Analyst Says ETH 'Holding Strong' In Pattern Pointing Toward $6K

Jim Cramer indicated potential interest in Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) on Sunday, citing their &#8220;protective intellectual blankets&#8221; as key attractors for his investing club portfolio.
What Happened: &#8220;Working on a Sunday brainstorm about buying Palantir and Tesla,&#8221; CNBC&#8217;s Cramer wrote on X. 
The interest comes as Tesla faces scrutiny over its <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/42792642/tesla-analysts-on-deliveries-ev-stock-could-have-stormy-weather-in-short-term-generational-set-of-growth-opportunities-long-term">fourth-quarter deliveries</a> falling short of analyst expectations. The electric vehicle maker&#8217;s stock closed Friday at $410.44, up 8.22%, despite recent delivery challenges that prompted mixed analyst reactions.
Canaccord Genuity analyst George Gianarikas maintained his bullish stance on Tesla, raising his price target to $404 while highlighting &#8220;a generational set of growth opportunities&#8221; in EVs, autonomy/AI, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/42792642/tesla-analysts-on-deliveries-ev-stock-could-have-stormy-weather-in-short-term-generational-set-of-growth-opportunities-long-term">energy storage, and robotics</a>.
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<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Working on a Sunday brainstorm about buying Palantir and Tesla and the need to do so because of the protective intellectual blankets they give you. Only, of course, for the CNBC Investing Club. Oh why not
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1875942132772696423?ref_src=twsrc%5Etfw">January 5, 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/news/25/01/42804461/sanders-backs-trumps-credit-cap-carters-passing-trumps-response-to-nola-attack-and-more-this-week-in-politics">Sanders Backs Trump&#8217;s Credit Cap, Carter&#8217;s Passing, Trump&#8217;s Response To NOLA Attack And More: This Week In Politics</a>
However, GLJ Research analyst Gordon Johnson struck a more cautionary tone, predicting &#8220;stormy weather&#8221; ahead. Johnson pointed to Tesla&#8217;s production of 459,445 vehicles in <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/42792642/tesla-analysts-on-deliveries-ev-stock-could-have-stormy-weather-in-short-term-generational-set-of-growth-opportunities-long-term">the fourth quarter of 2024</a>, representing just 78.2% of stated capacity, suggesting potential demand concerns.
Why It Matters: Palantir, riding the AI wave, has seen its stock surge nearly 400% over the past year. The data analytics company closed Friday at $79.89, though Cathie Wood&#8216;s Ark Invest recently <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42801940/cathie-woods-ark-invest-books-profits-on-hot-ai-stock-palantir-sells-bitcoin-etf-shares-as-btc-starts-2025-on-a-positive-note">reduced its position</a>, selling 20,332 shares worth approximately $1.6 million.
Tesla&#8217;s market position remains strong with a $1.33 trillion market cap, despite concerns about average selling prices facing downward pressure. Truist analyst William Stein maintained a Hold rating while lowering the price target to $351, citing expectations of continued pricing <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/42792642/tesla-analysts-on-deliveries-ev-stock-could-have-stormy-weather-in-short-term-generational-set-of-growth-opportunities-long-term">pressure to stimulate demand</a>.
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Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

PLTR

Jim Cramer Works 'Sunday Brainstorm' On Buying Palantir And Tesla Stock, Calls Them 'Protective Intellectual Blankets'

Elon Musk took to social media to express his dissatisfaction with the current leadership of the Reform Party, targeting Nigel Farage on Sunday.
What Happened: Musk posted on X, &#8220;The Reform Party needs a new leader. Farage doesn't have what it takes.&#8221; Farage in turn said that Musk&#8217;s loss of confidence came as a surprise to him.
&#8220;I am afraid I disagree,&#8221; said the U.K. leader known for his association with President-elect Donald Trump and his fierce campaign to take the country out of the European Union.
Farage had taken distance from comments made by Musk in support of anti-immigration activist Stephen Yaxley-Lennon also known as Tommy Robinson, who is currently in prison for contempt of court, according to a report from Reuters.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Well, this is a surprise! Elon is a remarkable individual but on this I am afraid I disagree. My view remains that Tommy Robinson is not right for Reform and I never sell out my principles. <a href="https://t.co/V7iccN6usS">https://t.co/V7iccN6usS</a>
&mdash; Nigel Farage MP (@Nigel_Farage) <a href="https://twitter.com/Nigel_Farage/status/1875918844562473373?ref_src=twsrc%5Etfw">January 5, 2025</a></blockquote>
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Farage said, &#8220;My view remains that Tommy Robinson is not right for Reform and I never sell out my principles.&#8221; 
Farage previously shared a photo of himself with Musk, with a portrait of a young Trump visible in the background. The post prompted a response from Musk, who appeared to align with the idea that Britain needed the Reform Party.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Absolutely
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1869034409799950394?ref_src=twsrc%5Etfw">December 17, 2024</a></blockquote>
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Notably, Farage had said during the U.S. presidential campaign that he <a href="https://www.benzinga.com/news/24/05/38805726/nigel-farage-brexit-champion-discloses-confidential-job-offer-from-donald-trump-very-heavily-involve">received a job offer</a> from Trump for his U.S. re-election campaign. 
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42761769/if-you-invested-1000-in-bitcoin-when-vivek-ramaswamy-began-accepting-btc-donations-for-his-presidential-campaign-heres-how-much-youd-have-today?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">If You Invested $1000 In Bitcoin When Vivek Ramaswamy Began Accepting BTC Donations For His Presidential Campaign, Here&#8217;s How Much You&#8217;d Have Today</a>
Why It Matters: Previously, Musk <a href="https://www.benzinga.com/news/24/09/41041174/elon-musk-slams-uk-government-for-releasing-convicted-pedophiles-after-being-reportedly-banned-from">criticized the U.K. government</a> for releasing convicted pedophiles and reportedly banning him from the International Investment Summit due to his social media activity during recent riots. He stated, &#8220;I don&#8217;t think anyone should go to the UK when they&#8217;re releasing convicted pedophiles in order to imprison people for social media posts.&#8221;
More recently, Musk criticized U.K. Prime Minister Keir Starmer and supported a national inquiry into cases of underage exploited girls, which Starmer&#8217;s prosecution service once handled. Starmer, expected to address the issue, highlighted his 2013 reforms for prosecuting pedophile gangs but avoided criticizing Musk, given his ties to Trump, according to a Reuters report.
Musk has dismissed the idea of establishing a Tesla Gigafactory in the U.K., citing the current Labour government as a <a href="https://www.benzinga.com/tech/24/12/42717793/elon-musk-rejects-uk-as-a-possible-gigafactory-location">deterrent for potential investors</a>. &#8220;Very few companies will be willing to invest in the UK with the current administration,&#8221; he wrote.
Photo Courtesy: Flickr
Did You Know?
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</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>

Elon Musk Flips On Trump's UK Ally Nigel Farage: 'Doesn't Have What It Takes'

Raising kids is rewarding, but let's be honest—it's expensive. The average cost to raise a child until age 18? According to Northwestern Mutual, it's a <a href="https://www.benzinga.com/money/how-much-do-babies-cost-savings-guide">whopping $300,000</a>, as Business Insider reported. For some parents, those costs came with regrets they wish they'd considered earlier.
Business Insider asked over 3,400 older Americans, aged 48 to 96, about their biggest financial regrets. The responses poured in and many centered around parenting. Some wished they'd waited longer to start a family. Others felt they spent too much—or not enough—on their kids. The bottom line? Decisions made decades ago still echo today.
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<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>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/1milsaved"> The percentage may shock you</a>.</li>
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"Babies Are So Precious, But…"
Judy Taylor, 72, from Georgia, loves her children. But looking back, she says <a href="https://www.benzinga.com/personal-finance/24/07/39778022/dave-ramsey-tells-man-and-wife-spending-80-000-a-year-in-child-care-costs-that-they-have-lost-th">having kids</a> in her early 20s wasn't the best financial move. "Babies are so precious," Taylor said to BI. "But having another life to be responsible for can be overwhelming. Just be sure you're ready for that."
Taylor and her husband weren't professionally established when they started their family. After their divorce, she had to shoulder the financial burden as a single parent. Today, she relies on just over $2,000 in Social Security monthly. Missing a check, she said, would leave her "dead in the water."
See Also: Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share!</a>
Planning Ahead Is Key
Jessica Douieb, head of wealth partners at JPMorgan, told BI that the key is planning. Families should focus on short- and long-term goals like education, tax planning, cash-flow management and retirement savings. "A frequent misstep is failing to plan for the long term," Douieb said. Without a plan, she warns, parents could end up working longer and delaying their retirement to support their kids.
For Roxanne Lewis, 61, a mental health case manager, not having a nest egg before <a href="https://www.benzinga.com/personal-finance/24/06/39434605/new-study-surprises-many-as-houston-ranks-among-top-cities-for-affordable-child-raising-families">starting a family</a> made things harder. She relied on child support and food stamps to get by as a single mother. With seven children, she now wishes she'd waited until she had a stable career and savings.
Trending: Many are using retirement income calculators to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a>
No Regrets About the Love, But…
Here's the thing: None of the parents interviewed regretted the love they gave their kids. Many said their financial sacrifices were worth it to build strong family relationships. But they all stressed the importance of being financially prepared before leaping into parenthood.
Raising kids is one of life's biggest joys—and challenges. Whether it's $300,000 or more, knowing what you're getting into financially could save you from tough regrets later on. Plan now so your future self can thank you.
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<li>Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.</li>
<li><a href="https://www.benzinga.com/money/62-years-old-with-1-mil-saved">I&#8217;m 62 Years Old And Have $1.2 Million Saved. Is This Enough to Retire Stress-Free?</a></li>
</ul>

Personal Finance

$300,000 And Counting: The Cost Of A Decision Many Parents Regret

<a href="https://www.benzinga.com/personal-finance/24/10/41145078/billionaire-bill-gates-has-a-bold-plan-to-shrink-the-wealth-of-the-rich-heres-how-he-intends-to-">Bill Gates </a>is turning heads again, but not for anything tech-related. While Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) remains his largest holding (about $15.4 billion) in the Bill &amp; Melinda Gates Foundation portfolio, Gates has been making some surprising moves.&nbsp;
Over the past year, he sold nearly a quarter of his Microsoft stock, but his bold third-quarter buys have everyone talking. Gates put his money into two transportation companies, signaling he's betting big on an industry bounce-back.
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<li>Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.26/share!</a></li>
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The S&amp;P 500 Transportation Index had a tough 2024, slipping 0.5% while the overall S&amp;P 500 soared 23%. But Gates seems to see opportunity in the midst of it all.&nbsp;
According to market analysts, his two picks – Paccar and FedEx – reflect a belief that the sector is poised for a turnaround, especially if the economy improves in 2025. These strategic buys are worth a closer look.
Paccar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCAR#NASDAQ">PCAR</a>) might not ring a bell, but it&#8217;s heavy in heavy-duty trucks. The company's Peterbilt and Kenworth brands command 14.9% and 14.7% of the U.S. Class 8 truck market, second only to Freightliner's dominant 36.5% share, as reported by ATD.&nbsp;
See Also: The global games market is projected to generate $272B by the end of the year —<a href="https://www.benzinga.com/money/gameflip"> for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.</a>
These massive trucks, weighing over 33,000 pounds, are critical to the economy and Paccar's performance reflects that.
Paccar had a strong start to 2024, with a quarterly revenue of $8.74 billion in the first quarter. But as truckload demand dipped, the momentum faded. Still, signs of a recovery are emerging. Kenny Vieth, president of ACT Research, told Transport Topics, "We're in the early stages of building 2025 backlogs and November orders were up 21% from October."&nbsp;
Gates scooped up one million Paccar shares at around $100 each, a $100 million <a href="https://www.benzinga.com/startups/24/10/41312615/investors-pour-billions-into-openai-whats-driving-this-unprecedented-surge-in-funding">investment </a>in a company he believes has long-term promise.
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a>
Then there's FedEx (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>), a logistics powerhouse navigating turbulence. Its third-quarter report fell short of expectations and the company revised its full-year forecast downward, unsettling investors. But Gates saw an opportunity, snapping up another one million shares at an average of $273 each.
FedEx has been shaking things up internally. The company announced plans to spin off its less-than-truckload freight division, FedEx Freight, into a stand-alone business. According to Bloomberg, this division pulled in $9.4 billion in 2023 and could become a growth driver as FedEx sharpens its focus on core operations.&nbsp;
The move is part of its broader DRIVE initiative, which aims to make the company more efficient and flexible. Analysts believe this will streamline FedEx's operations and position it for growth if the economy rebounds.
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<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share!</a></li>
<li>If there was a new fund backed by Jeff Bezos offering a <a href="https://www.benzinga.com/money/arrived-private-credit-fund">7-9% target yield with monthly dividends would you invest in it</a>?</li>
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Startups

PCAR

'A $2M Bet On Recovery': Bill Gates Quietly Buys 2 Stocks He Believes Will Define 2025's Economic Boom

Elon Musk announced a significant &#8220;algorithm tweak&#8221; on the social media platform X, formerly known as Twitter. This move aims to mitigate the &#8220;excessive negativity&#8221; that has been a growing concern on the platform.
What Happened: Elon Musk made the announcement via an X post, stating his goal&nbsp;to &#8220;maximize unregretted user-seconds.&#8221; 
Musk took the reins of Twitter in October 2022 and reinstated several previously suspended conservative figures, including President-elect Donald Trump, who was removed from the platform following the Capitol Hill riot on Jan. 6, 2021.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Algorithm tweak coming soon to promote more informational/entertaining content. We will publish the changes to <a href="https://twitter.com/XEng?ref_src=twsrc%5Etfw">@XEng</a>. Our goal is to maximize unregretted user-seconds. Too much negativity is being pushed that technically grows user time, but not unregretted user time.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1875355425601999255?ref_src=twsrc%5Etfw">January 4, 2025</a></blockquote>
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Musk has been at the center of several controversial interventions on X. His latest announcement regarding the algorithm change has elicited a range of reactions from social media users.
Also Read: <a href="https://www.benzinga.com/news/24/12/42716098/musk-to-arnault-heres-a-look-at-2024s-billionaire-boom-and-bust-who-gained-and-who-lost">Musk To Arnault: Here&#8217;s A Look At 2024&#8217;s Billionaire Boom and Bust, Who Gained and Who Lost</a>
Musk has stated that the new algorithm will prioritize more informational and entertaining content. He also mentioned that they are exploring ways for users to dynamically adjust their content feed.
Why It Matters: Musk&#8217;s decision to tweak the algorithm comes at a time when social media platforms are under scrutiny for their content moderation policies. 
The move is seen as an attempt to balance freedom of speech with the need to maintain a positive and respectful discourse on the platform. However, the impact of this algorithm change on the platform and its users remains to be seen. 
As the platform continues to evolve under Musk&#8217;s leadership, users and observers alike will be keenly watching the changes and their effects on the platform&#8217;s user experience and overall atmosphere.
Read Next
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Image: Shutterstock

Social Media

Elon Musk Announces Changes to X Over Negativity Concerns: 'Too Much Negativity Is Being Pushed'

If there's one thing Jeff Bezos knows how to do, it's raise the stakes – whether it's in e-commerce, space travel or <a href="https://www.benzinga.com/real-estate/24/05/38921536/jeff-bezos-quietly-enters-residential-mortgage-business-giving-high-interest-rate-loans-to-other-inv">even real estate</a>. The Amazon founder recently made headlines with his splashy purchases on Miami's exclusive Indian Creek Island, nicknamed the "<a href="https://www.benzinga.com/real-estate/24/12/42673539/how-jeff-bezos-knocked-1-billion-off-his-tax-bill-by-moving-to-his-infamous-billionaire-bunker">Billionaire Bunker</a>." But now, one of his neighbors is taking the "asking price" concept to a whole new level.
A 1.84-acre empty lot right next to Bezos' properties is up for grabs and the price tag? A whopping $200 million. Yes, you read that right – $200 million for less than two acres of land. To put it in perspective, the current owners bought the same lot for $27.5 million in 2018. That's almost an eightfold increase in just five years. So, what's driving the jaw-dropping price hike?
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Welcome to Indian Creek: The World's Most Exclusive Address
Indian Creek isn't your average gated community. It's a 300-acre, human-made island in Miami-Dade County, home to about 40 properties. With a private bridge, 24/7 armed security and a police force that patrols the perimeter like it's Fort Knox, it's the kind of place where billionaires go to escape the rest of us.
Jeff Bezos joined the elite club in 2023, shelling out <a href="https://www.benzinga.com/real-estate/24/05/38894190/jeff-bezos-spent-237-million-on-florida-mansions-billionaires-flock-to-upside-down-tax-haven-where-r">over $237 million across three separate purchases</a>. His real estate spree included a $68 million mansion, a $79 million adjacent property and a third mansion for $90 million. According to reports, he planned to live in the third home while the other two were <a href="https://www.benzinga.com/real-estate/24/04/38075377/jeff-bezos-buys-90-million-florida-mansion-to-live-in-while-his-other-newly-purchased-147-million-ho">demolished to build one mega-mansion</a>. Clearly, he's all in on Miami, leaving Seattle behind after 29 years.
Other residents include <a href="https://www.benzinga.com/real-estate/24/11/41912517/inside-ivankas-24-million-billionaire-bunker-mansion-with-a-15-million-mortgage">Jared Kushner, Ivanka Trump</a>, Carl Icahn and Tom Brady. And now, the mystery seller of the $200 million lot is betting that Bezos' arrival has elevated Indian Creek's already sky-high real estate market.
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a>
What's So Special About This Empty Lot?
Aside from being Jeff Bezos' soon-to-be neighbor, the lot boasts 200 feet of prime Biscayne Bay waterfront. According to the listing, it's perfect for building a deep-water dock accommodating a 180-foot megayacht. There are pre-design plans for a 25,000-square-foot mansion, which the new owner can either embrace or toss out entirely.
Broker Ilya Reznik, who represents the anonymous sellers, told Business Insider the asking price reflects the "unique location."&nbsp;
"Bezos did pay the numbers, which are really high," Reznik said. "But now those prices are there and the market is there – and higher."
Reznik also pointed to Miami's overall real estate frenzy, where new-build luxury homes command premium prices. "If it's new, buyers are willing to pay a premium. This is just what's going on in Miami," he added.
Is $200 Million Too Much?
A $200 million price tag for an empty lot on Indian Creek Island raises eyebrows – even in billionaire real estate. While the exclusivity of the location and the arrival of high-profile neighbors like Jeff Bezos have undeniably boosted demand, the fact remains: this is 1.84 acres of undeveloped land and waterfront.
To put things in perspective, the asking price far exceeds what Bezos paid for any of his three properties on the island. Indian Creek is certainly a trophy address, but this price could give even the wealthiest buyers a reason to pause.
That said, <a href="https://www.benzinga.com/real-estate/24/10/41453235/even-after-hurricane-helene-and-milton-south-floridas-luxury-market-sees-prices-rise-9-6">Miami's ultra-luxury real estate market</a> often defies traditional logic. Sometimes, it's just about saying, "Yeah, I live next to Jeff Bezos."
So, will this empty lot sell for its ambitious price? Only time – and the whims of the ultra-wealthy – will tell.
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<li>This Jeff Bezos-backed startup will allow you to <a href="https://www.benzinga.com/money/bezos-landlord-100-dollars">become a landlord in just 10 minutes, with minimum investments as low as $100 for properties like the Byer House from Stranger Things.</a></li>
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Real Estate

Jeff Bezos' Miami 'Billionaire Bunker' Neighbor Is Selling An Empty Lot For $200 Million – It's Less Than 2 Acres And They Paid $27.5 Million

Coss Marte, the founder and CEO of Conbud, is set to generate a whopping $12 million from his legal cannabis venture this year. Marte&#8217;s journey from a convict to a cannabis mogul is a testament to his resilience and the changing landscape of cannabis laws.
What Happened: Marte&#8217;s journey commenced with a drug conviction in 2009, resulting in a seven-year prison sentence. 
However, he was released early in 2013 and went on to establish a fitness business, Conbody, based on his prison workout regimen, CNBC <a href="https://www.cnbc.com/2025/01/04/conbud-founder-from-drug-sentence-to-building-nyc-cannabis-dispensary.html">reported</a>. 
"I was following this law, and what they required was two years of a net profitable business and a conviction on your record. Now, how many people have that to qualify for a cannabis license? Not many," Marte told the outlet. 
"When I was a kid, people would ask me: ‘What do you want to be when you grow up?' And I would say: ‘I want to be rich. The first opportunity was through the world of drugs. So I started dealing weed," Marte added.
Also Read: <a href="https://www.benzinga.com/25/01/42793407/cannabis-physician-surgeon-generals-alcohol-cancer-risk-warning-is-a-wake-up-call">EXCLUSIVE: Cannabis Physician Says Surgeon General&#8217;s Alcohol Cancer Risk Warning Is &#8216;Wake-Up Call&#8217;</a>
The legalization of recreational cannabis in New York in 2021 and the expungement of past marijuana-related convictions presented Marte with a business opportunity. 
The state permitted entrepreneurs with past marijuana convictions to be the first recipients of licenses for selling recreational cannabis.
Marte, with his successful business and a conviction, was an ideal candidate. He established Conbud, one of the first fully-licensed recreational cannabis businesses in Manhattan. 
The business, which commenced operations in October 2023, is currently generating around $800,000 in sales per month, including nearly $100,000 in profit. Marte anticipates closing 2024 with an estimated total of approximately $7 million, according to his projections. 
Why It Matters: Marte&#8217;s journey is a powerful narrative of resilience and highlights the potential for social and economic equity in the rapidly growing legal cannabis market. 
His story underscores the transformative power of changing cannabis laws, offering individuals with past convictions a chance to rebuild their lives and contribute to society. 
Furthermore, it emphasizes the potential economic benefits of legal cannabis, as evidenced by Conbud&#8217;s impressive sales figures.
Read Next
<a href="https://www.benzinga.com/government/regulations/24/12/42724338/new-year-2025-how-americas-love-of-cannabis-transformed-social-life-industry-and-health-trends" target="_blank" rel="noreferrer noopener">Cannabis In 2025: Inside America's Social, Economic, Wellness Transformation</a>

Cannabis

Success Stories

From Prison To Profits: Here's How This Entrepreneur's Cannabis Business Makes $800,000 Monthly

Elon Musk has expressed his strong disapproval of lawmakers who opposed a bill aimed at deporting convicted sex offenders who are <a href="https://www.benzinga.com/news/24/12/42715951/trump-backs-immigration-visas-musk-praises-his-stance-and-says-rising-tide-lifts-all-boats">undocumented immigrants</a>.
What Happened: Musk took to X on Sunday to voice his criticism. He urged his followers to post a list of all those who opposed the bill, stating they should be voted out of office. His tweet was in response to a post that highlighted that 158 Democrats voted against the bill in September.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">There is no excuse. Please post the list of people who opposed this law and want to keep illegals who are convicted sex offenders in America. They all need to be voted out of office. Every one of them. <a href="https://t.co/nuimP3Hsm1">https://t.co/nuimP3Hsm1</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1875746145261195463?ref_src=twsrc%5Etfw">January 5, 2025</a></blockquote>
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Musk wrote, &#8220;There is no excuse. Please post the list of people who opposed this law and want to keep illegals who are convicted sex offenders in America. They all need to be voted out of office. Every one of them.&#8221;
Also Read: <a href="https://www.benzinga.com/news/24/12/42714402/elon-musk-weighs-in-on-maga-divide-urges-gop-to-purge-contemptible-fools">Elon Musk Weighs In On MAGA Divide, Urges GOP To Purge &#8216;Contemptible Fools&#8217;</a>
Following his response, the original poster shared the list and Musk then said, &#8220;These awful people all need to be voted out, either in the primaries or the general election. They sully the Capitol Building with their presence.&#8221;
At the time of the debate over the bill, Rep. Jerrold Nadler (D-N.Y.), then the ranking Democrat on the House Judiciary Committee, said that the bill was too broad and risked deporting victims of domestic violence back to dangerous living arrangements in their country of origin.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">These awful people all need to be voted out, either in the primaries or the general election. They sully the Capitol Building with their presence. <a href="https://t.co/6i9LqTefzv">https://t.co/6i9LqTefzv</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1875759992898515080?ref_src=twsrc%5Etfw">January 5, 2025</a></blockquote>
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Why It Matters: The bill in question was passed by the House in September, with every Republican and 51 Democrats voting in favor. However, 158 Democrats opposed it, causing a stir in the political landscape. The bill aimed to deport undocumented immigrants convicted of sex crimes, a move that Musk strongly supports.
Musk&#8217;s tweet has sparked a conversation about the bill, the lawmakers who opposed it, and the future of immigration policies in the United States. 
As an influential figure, Musk&#8217;s views could potentially sway public opinion and impact future political decisions.
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Elon Musk Calls for Identifying Lawmakers Who Support Undocumented Immigrants Convicted of Sex Crimes: 'No Excuse'

According to U.S. Census Bureau data, U.S. homebuilders have 266,000 houses under construction and ready for sale, the second-highest level since records began, trailing only the 2008 housing bubble.
The construction surge comes as speculative &#8220;spec&#8221; homes – built without committed buyers – reached 124,000 units nationwide, up from the shortage levels seen between 2012 and 2022. The last time spec home inventory climbed higher was in 2008, when builders reported 199,000 units.
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&#8220;Builders are doing their part to inundate the housing market with supply,&#8221; said Nick Gerli, real estate data platform Reventure App CEO.
The construction boom centers on southern states, where <a href="https://www.benzinga.com/real-estate/24/12/42557395/with-690000-unsold-homes-experts-predict-slight-growth-in-2025-is-now-the-time-to-buy">builders maintain most of their inventory</a>. Texas, Florida and Tennessee report an overflow of available homes on builder lots. Active listings in those regions have returned to pre-pandemic levels, ending local housing shortages.
Meanwhile, the Northeast and Midwest continue facing inventory deficits compared to pre-pandemic levels. Builders have largely avoided these regions, concentrating New South and Mountain West construction.
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&#8220;Homebuilders in these areas permitted lots of homes during the pandemic boom and continue to permit homes in late 2024, even as buyer demand has cooled,&#8221; Gerli told Newsweek. &#8220;Texas, Florida, Arizona, Tennessee and Georgia are the most impacted states by the run-up in builder inventory.&#8221;
According to Redfin data, the median home sale price reached $430,010 in November, rising 5.4% from the previous year. Total homes for sale increased 10.3% year-over-year to 1,689,082 units, while sales volume grew 4.4%.
Reventure forecasts home price declines in Texas and Florida for 2025, with potential price drops concentrated in suburban and rural areas where builders remain most active.
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The Senate Budget Committee recently warned about broader market risks. A new report from the committee points to rising insurance premiums combined with elevated home prices and mortgage rates as potential triggers for market instability.
&#8220;Property values will eventually fall – just like in 2008 – sending household wealth tumbling. The United States could be looking at a systemic shock to the economy similar to the financial crisis of 2008 – if not greater,&#8221; the committee&#8217;s report stated.
The inventory surge marks a reversal from 2008-2022 when the U.S. housing market saw construction lag behind population growth. The resulting shortage pushed many first-time <a href="https://www.benzinga.com/economics/macro-economic-events/24/07/39614880/now-owning-a-house-in-us-is-more-challenging-than-ever-as-affordability-drops-to-">buyers out of the market as prices climbed beyond reach</a>.
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266K Homes Under Construction: Builders Challenge The Housing Shortage Narrative

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