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Hedera (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/hbar/usd">HBAR</a>) soared to the top of the daily gainers list Monday as blue-chip cryptocurrencies traded flat.
What happened: HBAR, the native coin of the Hedera Hashgraph network, rallied 35% in the last 24 hours to hit a seven-month high.
The cryptocurrency's trading volume more than tripled in the last 24 hours to $3.50 billion, suggesting heightened buying pressure. 
The upsurge dwarfed gains made by Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), as both market heavyweights were up just 1.02% and 1.39%, respectively. 
With gains of over 160%, HBAR was the third-best-performing token over the last week.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41873427/shiba-inu-lead-developer-shytoshi-kusama-pitches-s-h-i-b-in-response-to-elon-musks-call-for-new-roles-recommendations-in-trump-administration">Shiba Inu Lead Developer Shytoshi Kusama Pitches S.H.I.B In Response To Elon Musk&#8217;s Call For New Roles Recommendations In Trump Administration</a>
The rally came as odds of Brian Brooks, an HBAR Foundation board member, being named President-elect Donald Trump&#8217;s pick for SEC Chair <a href="https://kalshi.com/markets/kxsecchair/next-sec-chair">increased </a>dramatically on prediction platform Kalshi.&nbsp;
Brooks' odds leapfrogged from 8.6% 24 hours ago to 43% as of this writing.&nbsp;
Another likely bullish catalyst was cryptocurrency asset trading and management firm Canary Capital <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42011875/solana-ripple-litecoin-etfs-may-be-on-the-table-under-trump-administration-industry-experts-think">filing </a>for an HBAR exchange-traded fund (ETF), potentially driving mainstream adoption of the coin.
For the uninitiated, Hedera is a public blockchain network, allowing for the development of decentralized applications on top of it. HBAR lies at the center of the network, helping secure it through staking. 
The coin has a market capitalization of $5.70 billion, with a circulating supply of 37.69 billion.
Price Action: At the time of writing, HBAR was trading at $0.1497, up 35% 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>.
Image via Pixabay
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42052184/will-shiba-inu-coin-reach-1-cent-by-2025-47-of-benzinga-readers-say">Will Shiba Inu Coin Reach 1 Cent By 2025? 47% Of Benzinga Readers Say…</a></li>
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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$HBAR

Trump SEC Pick Speculation Sends This Altcoin Soaring Past Bitcoin And Ethereum In Daily Gains

Verily, the life sciences subsidiary of 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>), has set a deadline to sever its ties with Google by December. This move is seen as a crucial step towards Verily&#8217;s goal of becoming an independent company.
What Happened: Verily has set a deadline of Dec 16 to cut ties with Google, as per internal documents, <a href="https://www.businessinsider.in/tech/news/verily-has-a-december-deadline-to-cut-important-ties-with-google-leaked-documents-show/articleshow/115431375.cms">reported</a> Business Insider citing sources familiar with the matter. This includes severing connections to Google&#8217;s cloud infrastructure and employee benefits.
Despite the separation, Verily will remain a part of Alphabet. However, the company&#8217;s leadership has emphasized the necessity of these efforts for Verily to eventually operate as an entirely independent entity.
Verily&#8217;s transition from Google&#8217;s infrastructure is being driven by its secret Flywheel project, which was first reported by Business Insider in 2021. This project is considered a crucial stepping stone towards Verily&#8217;s independence.
Employees have already been issued new laptops, office badges, and email addresses that are no longer aliases of the Google email domain. They will also lose access to Google&#8217;s employee benefits by the end of December, receiving new benefits fully dictated by Verily.
See Also: <a href="https://www.benzinga.com/markets/equities/24/11/42028797/tesla-soars-over-5-in-overnight-trading-as-trump-administration-reportedly-seeks-to-ease-fsd-norms?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Soars Over 5% In Overnight Trading As Trump Administration Reportedly Seeks To Ease FSD Norms</a>
Why It Matters: The move to separate Verily from Google comes at a time when the tech giant is facing increased regulatory scrutiny. The U.S. Department of Justice is reportedly <a href="https://www.benzinga.com/news/legal/24/11/42053249/google-could-lose-chrome-browser-in-dojs-latest-antitrust-move">preparing to request a court order</a> that would force Google to divest its Chrome browser, following a ruling in August that found Google guilty of illegally monopolizing the search market.
Despite these challenges, Alphabet has been making significant strides in its AI technology. The company recently announced that its <a href="https://www.benzinga.com/news/large-cap/24/11/42042074/googles-gemini-app-brings-free-flowing-ai-to-apple-iphone">AI assistant, Gemini</a>, is now available for download on Apple Inc.&#8216;s iPhone as an app, offering a &#8220;free-flowing conversation&#8221; feature.
Alphabet is also <a href="https://www.benzinga.com/tech/24/11/42030837/salesforce-ceo-marc-benioff-lauds-googles-truly-groundbreaking-gemini-ai-after-taking-jabs-at-microsofts-copilot">receiving praise for its AI technology</a> from industry leaders. Salesforce CEO Marc Benioff recently lauded Google&#8217;s AI tool, Gemini Live, as &#8220;truly groundbreaking.&#8221;
Price Action: Alphabet Inc. Class A shares closed at $175.30 on Monday, gaining 1.63% for the day. In after-hours trading, the stock declined 1.00%. Year to date, Class A shares have risen by 26.87%. Meanwhile, Alphabet Inc. Class C shares ended the day at $176.80, up 1.67%. After hours, the stock dipped 0.83%. Year to date, Class C shares have increased by 26.68%, according to <a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
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<li><a href="https://www.benzinga.com/24/11/42025223/legendary-investor-rob-arnott-says-stock-market-looks-and-feels-like-the-year-2000-as-wall-street-rallies-after-trumps-win-likely-to-see-a-bear-market?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Legendary Investor Rob Arnott Says Stock Market &#8216;Looks And Feels Like The Year 2000&#8217; As Wall Street Rallies After Trump&#8217;s Win: &#8216;&#8230;Likely To See A Bear Market&#8217;</a></li>
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Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

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GOOG

GOOGL

Alphabet's Life Sciences Firm Verily To Become A Standalone Entity, Disconnect From Google

Renowned economist Peter Schiff took a cheeky dig at the swift pace at which MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) was executing its Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) purchase plan.
What Happened: On Monday, Schiff took to X to comment on the Michael Saylor-led company&#8217;s aggressive Bitcoin buying strategy. 
He noted that the company has already spent $6.63 billion of its ambitious <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41646462/michael-saylor-says-bitcoin-remedy-to-fix-unhealthy-balance-sheets-as-microstrategy-unveil">$42 billion three-year plan</a> announced less than three weeks ago.
&#8220;At this rate, the entire plan will be completed in under four months. Then Saylor is gonna need a bigger plan,&#8221; the Bitcoin critic made a tongue-in-cheek remark.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It&#39;s been less than three weeks since <a href="https://twitter.com/saylor?ref_src=twsrc%5Etfw">@Saylor</a> announced a three-year plan for <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a> to spent $42 billion buying <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>. So far, $6.63 billion has already been spent. At this rate the entire plan will be completed in under four months. Then Saylor is gonna need a bigger plan.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1858602445783658920?ref_src=twsrc%5Etfw">November 18, 2024</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/markets/cryptocurrency/24/11/42052797/trump-and-coinbase-ceo-brian-armstrong-reportedly-in-talks-over-cabinet-appointments">Trump And Coinbase CEO Brian Armstrong Reportedly In Talks Over Cabinet Appointments</a>
Why It Matters: Schiff&#8217;s comments come in the wake of <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42042019/bitcoin-buyer-spree-microstrategy-acquires-4-6b-in-btc-metaplanet-issues-11-4m-in-bonds-to-fund-purchases">MicroStrategy&#8217;s recent acquisition</a> of 51,780 Bitcoin for approximately $4.6 billion. With the latest grab, MicroStrategy holdings shot up to 331,200 BTC, acquired at a total purchase price of approximately $16.5 billion, and worth over $30 billion at current market prices. 
MicroStrategy views Bitcoin as a <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41902155/bitcoin-to-augment-gold-as-the-next-strategic-reserve-asset-says-expert" target="_blank" rel="noreferrer noopener">strategic reserve asset</a>, offering exposure to digital assets as an alternative to traditional capital. The company announced that it would raise $42 billion over the next three years through equity and debt financing to buy more Bitcoin.
Meanwhile, Schiff has continued to take potshots at anything and everything connected to Bitcoin.
Last month, he <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41478505/peter-schiff-predicts-a-bloodbath-for-microstrategy-stock-calls-it-the-most-overvalued-on-">predicted a &#8216;bloodbath&#8217;</a> for MicroStrategy&#8217;s stock, terming it the most overvalued on the MSCI World Index. He also <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41616100/peter-schiff-asks-followers-if-microstrategy-can-tower-this-gold-mining-giant-in-marketcap">questioned the soaring market capitalization</a> of MicroStrategy compared to gold mining companies.
Price Action: At the time of writing, Bitcoin was exchanging hands at $91,274.52, up 0.91% 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>. 
Shares of MicroStrategy soared 13% to close at 384.79 on Monday. The stock was up a whopping 455% year-to-date.
Read Next: 
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<li><a href="https://www.benzinga.com/general/social-media/24/11/42048594/trump-digs-deeper-into-cryptocurrency-bakkt-shares-soar-on-reported-interest-from-president-elects-media-company">Trump Digs Deeper Into Cryptocurrency? Bakkt Shares Soar On Reported Interest From President-Elect&#8217;s Media Company</a></li>
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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>

MSTR

Peter Schiff Pokes Fun Of MicroStrategy's Bitcoin Purchase: 'Michael Saylor Is Gonna Need A Bigger Plan'

Leading cryptocurrencies inched higher Monday, coinciding with a surge in tech stocks.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+0.60%</td>
<td>$91,007.28</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>+1.49%</td>
<td>$3,158.99</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>+2.23%</td>
<td>$0.3725</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin exhibited choppy movement, oscillating between $92,000 and $89,000. The leading cryptocurrency has lost momentum since smashing past $93,000 last week.&nbsp;
Ethereum moved slightly northward, reaching an intraday high of $3,225 before rapidly retreating to $3,150.
In the past 24 hours, 114,745 traders were liquidated, with the total liquidations at $329.61 million. Over $200 million in upside bets was wiped out.&nbsp;
The Open Interest (OI) in Bitcoin futures rose 2% in the last 24 hours, suggesting sustained speculative interest.
The number of traders holding Bitcoin long positions climbed considerably over the previous 24 hours, signaling expectations that the rally will resume.
The "Extreme Greed" sentiment increased to 90, as per the Cryptocurrency Fear and Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. ET)</td>
</tr>
<tr>
<td>Hedera (HBR)</td>
<td>+40.64%</td>
<td>$0.1395</td>
</tr>
<tr>
<td>Tezos (XTZ)</td>
<td>+40.27%</td>
<td>$1.13</td>
</tr>
<tr>
<td>Akash Network (AKT)</td>
<td>+38.64%</td>
<td>$4.55</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.08 trillion, rising 1.84% in the last 24 hours.
The Nasdaq Composite, the barometer of tech stocks, popped 111.68 points, or 0.60%, to end at 18,791.81. The S&amp;P 500 gained 0.39% to close at 5,893.62, while the Dow Jones Industrial Average closed 0.13% lower at 43,389.60.
The tech rally was driven by a 5.62% jump in shares of EV juggernaut Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) on reports suggesting that the upcoming regulatory framework under Trump <a href="https://www.benzinga.com/markets/equities/24/11/42028797/tesla-soars-over-5-in-overnight-trading-as-trump-administration-reportedly-seeks-to-ease-fsd-norms">might ease mandates</a> for self-driving vehicles.
Additionally, investors were geared up for AI behemoth Nvidia Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42048963/why-nvidia-earnings-may-trigger-massive-sp-500-volatility">earnings report</a> on Wednesday.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Popular cryptocurrency analyst Ali Martinez used historical trajectories to project Bitcoin's next moves before a significant correction.&nbsp;
"During the 2017 bull market, Bitcoin surged 156% past its previous all-time high before the first major correction of -39%. In 2020, BTC rose 121% before a -32% correction," Martinez stated.&nbsp;
Should history repeat, Bitcoin could reach $138,000 before its "first major pullback," the analyst added.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">During the 2017 bull market, <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> surged 156% past its previous all-time high before the first major correction of -39%. In 2020, <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> rose 121% before a -32% correction. If history repeats, <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> could reach at least $138,000 before experiencing the first major pullback. <a href="https://t.co/eM3kLt6DA9">pic.twitter.com/eM3kLt6DA9</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1858654419602297074?ref_src=twsrc%5Etfw">November 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Popular on-chain analytics firm CryptoQuant said that Bitcoin has "room" for further growth based on the reading of the Short Term Holders SOPR indicator.
The SOPR, combined with the 30-day moving average (30d MA), revealed that short-term holders are taking moderate profits, with no signs of excessive euphoria.
"Currently, the indicator remains in the middle region, far from the Extreme Greed range, suggesting that the asset still has room to continue rising before reaching a possible market top," CryptoQuant noted.
<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">SOPR: <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> still has room to rise "Indicator remains in the middle region, far from the Extreme Greed range, suggesting that the asset still has room to continue rising before reaching a possible market top." – By <a href="https://twitter.com/gaah_im?ref_src=twsrc%5Etfw">@gaah_im</a> Link &#x1f447;<a href="https://t.co/XvSKZ9xXIY">https://t.co/XvSKZ9xXIY</a> <a href="https://t.co/WTIHMbp1Rm">pic.twitter.com/WTIHMbp1Rm</a>
&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1858582176499200007?ref_src=twsrc%5Etfw">November 18, 2024</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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<li><a href="https://www.benzinga.com/news/24/11/42027165/musks-doge-role-boosts-dogecoin-as-brian-armstrong-shows-support">Musk&#8217;s DOGE Role Boosts Dogecoin As Brian Armstrong Shows Support</a></li>
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$DOGE

NVDA

TSLA

Bitcoin, Ethereum, Dogecoin Rise Amid Tesla-Fueled Tech Stocks Rally: Popular Analyst Says BTC Could Reach $138K Before 'Major Pullback'

China&#8217;s leading tech firms,&nbsp;Alibaba&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>),&nbsp;ByteDance, and&nbsp;Meituan&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/MPNGY#OTC">MPNGY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MPNGF#OTC">MPNGF</a>), are reportedly expanding their AI teams in Silicon Valley.
What Happened: These Chinese tech giants have been growing their California-based offices recently, to attract top U.S. talent to help them gain an edge in the lucrative AI sector, <a href="https://www.ft.com/content/da8c29b0-0a90-4d2a-8535-c8459ccc7bb4">reported</a> Financial Times.
Alibaba is hiring engineers, product managers, and AI researchers for its search engine AI, Accio, as part of its broader push in international commerce.
Meituan is building a team focused on features like AI-powered menu translations. ByteDance continues to develop its Doubao language model and integrate AI into TikTok.
See Also:&nbsp;<a href="https://www.benzinga.com/tech/24/11/42029736/elon-musk-says-ai-will-surpass-doctors-lawyers-after-chatgpt-tops-medical-diagnoses-humans-becoming-biological-backups?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says AI Will Surpass Doctors, Lawyers After ChatGPT Tops Medical Diagnoses — Humans Becoming &#8216;Biological&#8217; Backups</a>
This expansion comes despite&nbsp;a <a href="https://www.benzinga.com/news/24/10/41323155/nvidia-amd-face-chip-export-curbs-as-biden-administration-considers-restrictions-on-middle-east-coun">U.S. ban on exports</a>&nbsp;of high-end Nvidia Corporation&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) AI chips, essential for AI model development, to Chinese companies.
There are&nbsp;no restrictions on U.S.-based entities&nbsp;related to or owned by&nbsp;Chinese tech companies accessing high-end&nbsp;AI chips through U.S. data centers.
However, the Department of Commerce&nbsp;proposed a rule in January requiring cloud providers&nbsp;to verify the identity of&nbsp;users training AI models and&nbsp;report their activities, the report noted.
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: The expansion of these Chinese tech giants in Silicon Valley comes amid escalating U.S.-China tensions. Following the re-election of Donald Trump, there were concerns about a <a href="https://www.benzinga.com/government/24/11/41773691/us-listed-chinese-stocks-like-alibaba-jd-nio-fall-after-trumps-win-whats-going-on">potential comprehensive trade conflict</a> between the two nations.
Trump&#8217;s proposed 60% tariff on Chinese goods was predicted to <a href="https://www.benzinga.com/markets/24/11/42028954/peter-thiel-says-trumps-60-china-tariff-would-be-very-very-bad-for-beijing-heres-whats-at-stake">impact Chinese companies significantly</a>. Following Trump&#8217;s win, several U.S.-listed Chinese stocks, including Alibaba, JD, and Nio, declined.
However, Chinese President Xi Jinping has expressed <a href="https://www.benzinga.com/24/11/42025284/xi-jinping-tells-joe-biden-china-is-ready-to-work-with-trump-as-tariff-threat-looms">China&#8217;s willingness to collaborate</a> with the U.S. government, regardless of the administration in power.
&#8220;China is ready to work with the U.S. government to maintain dialogue, expand co-operation and manage differences . . . for the benefit of the two peoples,&#8221; Xi told President Joe Biden at the Asia-Pacific Economic Cooperation forum in Lima.
Image via Wikimedia Commons
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer: 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

Media

BABA

MPNGF

MPNGY

China's Tech Giants Alibaba, ByteDance, And Meituan Are Expanding Their Silicon Valley AI Footprints Amid US Efforts To Block Progress: Here's Why

In a recent announcement, former Rep. Sean Duffy (R-Wis.) has been nominated by President-elect Donald Trump to serve as the Secretary of Transportation.
What Happened: The nomination was declared on Monday by Trump, who commended Duffy&#8217;s career, emphasizing his term as a District Attorney for Ashland, Wisconsin, and his subsequent election to the U.S. House of Representatives for Wisconsin&#8217;s 7th Congressional District. &#8220;Sean has been a tremendous and well-liked public servant,&#8221; Trump stated.
During his tenure in Congress, Duffy was recognized for his advocacy for fiscal responsibility, economic growth, and rural development, said Trump.
Trump noted Duffy&#8217;s ability to collaborate across party lines, especially on a major road and bridge project in Minnesota. As a member of the House Financial Services Committee, Duffy was instrumental in shaping economic policies and promoting transparency and accountability in government programs.
Trump underscored that Duffy&#8217;s focus will be on excellence, competence, competitiveness, and aesthetics in the reconstruction of America&#8217;s infrastructure. Duffy&#8217;s mission, as described by Trump, will be to usher in &#8220;The Golden Age of Travel,&#8221; with a focus on safety, efficiency, and innovation.
See Also: <a href="https://www.benzinga.com/24/11/42025443/brazils-first-lady-swears-at-elon-musk-billionaire-predicts-fall-of-workers-party-in-upcoming-presidential-election?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts After Brazilian President&#8217;s Wife Swears At Tesla CEO: &#8216;They Will Lose The Next Election&#8217;</a>
Why It Matters: This nomination comes at a crucial time when the incoming Trump administration is proposing significant policy changes that could impact the transportation sector. 
Earlier this month, Trump announced plans to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42046316/trump-set-to-hand-musk-golden-path-for-tesla-after-reversing-course-on-autonomous-vehicle-ban">ease restrictions</a> on self-driving vehicles, a move that could benefit companies like Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>). 
This followed Trump&#8217;s plans to eliminate <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41988194/trump-plans-to-erase-ev-tax-credit-analyst-says-its-net-bullish-calls-sell-off-wrong-knee-jerk-reaction">consumer tax credits for EVs</a>, a move that Tesla CEO Musk supported. 
However, veteran investor, Gary Black, warned that Tesla could <a href="https://www.benzinga.com/news/global/24/11/41998381/tesla-earnings-will-be-hit-hardest-if-7500-ev-credit-is-cut-warns-gary-black-citing-80-dependence-on-ev-sales-please-do-the-math">suffer the most</a> from losing the $7,500 EV tax credit due to its reliance on EV sales, with a potential 20% price hike in the U.S. impacting 30% of its global volume. He dismissed concerns for legacy automakers, noting their lower exposure to EVs.
Photo Courtesy: Gage Skidmore on Wikimedia.com
Did You Know?
<ul>
<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>
</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

Trump Picks Sean Duffy As Next Transportation Secretary, Says He Will Usher In 'The Golden Age of Travel'

Editor&#8217;s Note: This story has been updated to include a response from a Google spokesperson.
The U.S. Department of Justice is reportedly preparing to request a court order that would force Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google to divest its Chrome browser.
What Happened: The move comes after a ruling in August that found Google guilty of illegally monopolizing the search market.
The department is also expected to seek measures related to Google&#8217;s artificial intelligence and Android smartphone operating system, <a href="https://www.bloomberg.com/news/articles/2024-11-18/doj-will-push-google-to-sell-off-chrome-to-break-search-monopoly?srnd=phx-technology">reported</a> Bloomberg, citing people familiar with the matter.
See Also: <a href="https://www.benzinga.com/general/entertainment/24/10/41616337/google-bought-youtube-for-1-65b-and-now-it-prints-50b-in-revenue-just-in-1-year-sundar-pich">Google Bought YouTube For $1.65B And Now It Prints $50B In Revenue Just In 1 Year — Sundar Pichai Says Alphabet &#8216;Leaning Into The Living Room Experience&#8217;</a>
Google&#8217;s Chrome browser, which commands approximately two-thirds of the global browser market, plays a pivotal role in controlling internet views and ad visibility.
The browser&#8217;s high market share makes it a key revenue source for Google.
Google's vice president of regulatory affairs, Lee-Anne Mulholland, has criticized the DOJ&#8217;s &#8220;radical agenda,&#8221; saying it goes beyond the legal issues. 
Mulholland told Benzinga, &#8220;The government putting its thumb on the scale in these ways would harm consumers, developers and American technological leadership at precisely the moment it is most needed.&#8221;
The tech giant plans to appeal once U.S. District Judge Amit Mehta delivers a final ruling, expected by August 2025.
Why It Matters: Earlier, Alphabet CEO Sundar Pichai had said that the DOJ's proposals could lead to "<a href="https://www.benzinga.com/news/24/10/41616230/sundar-pichai-admits-doj-proposals-could-have-unintended-consequences-google-mapping-out-plan-b-in-c">unintended consequences</a>," during the company's third-quarter earnings call.
As DOJ's final proposed remedies on Nov. 20 inches closer, JPMorgan analyst Doug Anmuth sees potential headline risk but believes this <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42036010/alphabet-on-trial-doj-remedies-loom-but-analyst-sees-20-upside-as-discount-to-meta-narrows">could bring clarity</a>.
He maintains an Overweight rating on GOOGL stock, with a price target of $212, reflecting a 20% upside from its current level.
Last month, Alphabet reported <a href="https://www.benzinga.com/news/earnings/24/10/41611263/alphabet-q3-earnings-highlights-revenue-beat-eps-beat-google-cloud-up-35-momentum-across-the-compan">third-quarter revenue</a> of $88.27 billion, up 15% year-over-year, beating a Street consensus estimate of $86.31 billion.
Price Action: Alphabet's Class A shares climbed 1.63% to close at $175.30 on Monday, while Class C shares gained 1.67%, ending at $176.80. However, in after-hours trading, Class A shares dipped 1% to $173.55, and Class C shares fell 0.83% to $175.34, according to Benzinga Pro data at the time of writing, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">data from Benzinga Pro</a>.
Image via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/government/24/10/41528255/googles-2b-investment-in-anthropic-under-scrutiny-uk-opens-competition-inquiry">Google&#8217;s $2B Investment in Anthropic Under Scrutiny, UK Opens Competition Inquiry</a></li>
</ul>

Legal

Google Could Lose Chrome Browser In DOJ's Latest Antitrust Move (UPDATED)

Major U.S. indices had a mixed close on Monday, with the Dow Jones Industrial Average slipping 0.1% to 43,389.60, while the S&amp;P 500 rose 0.4% to 5,893.62, and the Nasdaq climbed 0.6% to 18,791.81.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>)
Super Micro Computer shares soared 15.93% to close at $21.54, after the company announced it has engaged BDO USA, P.C. as its independent auditor. The company also submitted a compliance plan to the Nasdaq to <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42052157/whats-going-on-with-super-micro-computer-stock-after-hours">regain compliance</a> with its continued listing requirements. 
Bakkt Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKKT#NYSE">BKKT</a>)
Bakkt Holdings shares surged 162.46% to close at $29.71, following reports that Trump Media &amp; Technology Group is in advanced talks to acquire the cryptocurrency company. Donald Trump, seen as pro-crypto, has reportedly led his media company into <a href="https://www.benzinga.com/general/social-media/24/11/42048594/trump-digs-deeper-into-cryptocurrency-bakkt-shares-soar-on-reported-interest-from-president-elects-media-company">advanced talks to acquire Bakkt</a>, a cryptocurrency firm backed by Intercontinental Exchange, in an all-share deal
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42014985/matt-gaetz-to-be-confirmed-as-attorney-general-in-a-trump-administration-not-so-fast-polymarket-traders-say?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Matt Gaetz To Be Confirmed As Attorney General In A Trump Administration? Not So Fast, Polymarket Traders Say</a>
MARA Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>)
MARA Holdings shares fell 14.07% to close at $18.11 after the company announced a $700 million convertible note offering to boost its Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) holdings and repurchase debt. The company&#8217;s shares fell, <a href="https://www.benzinga.com/partner/emerging-markets/24/11/41970156/investing-in-craft-the-benefits-of-boutique-brands-like-ibgs-australian-bitters">following the announcement</a>, of a $700 million convertible note offering to bolster Bitcoin holdings and address debt. The offering includes repurchasing 2026 notes and potential stock market impacts due to hedging activities by noteholders.
MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>)
MicroStrategy shares rose 12.96% to close at $384.79, following the company&#8217;s announcement of the acquisition of 51,780 Bitcoin for approximately $4.6 billion. On Monday, the Michael Saylor-led company <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42042019/bitcoin-buyer-spree-microstrategy-acquires-4-6b-in-btc-metaplanet-issues-11-4m-in-bonds-to-fund-purchases">announced the purchase</a> of 51,780 BTC for nearly $4.6 billion, at an average price of $88,627 per coin.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla shares climbed 5.62% to close at $338.74, following reports that President-elect Trump plans to <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42038624/tesla-stock-is-trading-higher-monday-whats-going-on">ease restrictions</a> for self-driving vehicles. The proposed federal framework could accelerate Tesla&#8217;s plans for its Cybercab robotaxi by addressing regulatory caps, despite potential EV tax credit eliminations that Elon Musk supports to challenge competitors.
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
Read Next: 
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<li><a href="https://www.benzinga.com/24/11/42029943/dow-tumbles-over-300-points-following-economic-reports-investor-sentiment-declines-fear-greed-index-moves-to-neutral-zone?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dow Tumbles Over 300 Points Following Economic Reports, Nvidia, Microsoft Decline: Fear &amp; Greed Index Moves To &#8216;Neutral&#8217; Zone</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>

Bakkt Holdings, Inc. Class A Common Stock

BKKT

MARA

SMCI

Super Micro Computer, Bakkt Holdings, MARA Holdings, Microstrategy, And Tesla Inc: Why These 5 Stocks Are On Investors' Radars Today

On Monday, Cathie Wood-led Ark Invest made a series of trades, with Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) being the most prominent. This comes amidst reports of President-elect Donald Trump&#8217;s plans to ease restrictions for self-driving vehicles and Tesla&#8217;s shares racing higher.
The TSLA Trade
Ark Invest&#8217;s trade involving Tesla shares comes at a time when the company&#8217;s stock is <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42038624/tesla-stock-is-trading-higher-monday-whats-going-on">experiencing a significant surge</a>. This surge is linked to reports that the incoming administration plans to prioritize a federal framework for autonomous vehicles, potentially making it easier to operate self-driving cars.
On Monday, Ark sold 30,939 Tesla shares worth $10.05 million from its flagship ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) fund. Tesla shares ended the day higher by 5.6% at $338.74.
Ark has been on a Tesla share-selling spree of late. After the Elon Musk-led company released its <a href="https://www.benzinga.com/markets/equities/24/10/41536387/cathie-woods-ark-sells-22m-worth-of-tesla-shares-following-blockbuster-q3-rally">third-quarter numbers</a> in late October, the Wood-led firm sold $22.2 million worth of the stock.
Wood has highlighted Tesla&#8217;s<a href="https://www.benzinga.com/markets/equities/24/10/41200165/cathie-wood-predicts-trillion-dollar-revenue-opportunity-for-tesla-in-autonomous-vehicles-winner"> trillion-dollar revenue pot</a>ential in autonomous vehicles. On the topic she said, &#8220;The company that gets people from point A to point B the fastest, safest, and with the least wait time is going to dominate the market.&#8221;
See Also: <a href="https://www.benzinga.com/24/11/42022585/michael-van-de-poppe-says-bitcoin-ethereum-and-altcoins-close-to-the-point-where-investors-can-buy-the-dip?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Michael Van De Poppe Says Bitcoin, Ethereum And Altcoins Close To The Point Where Investors Can &#8216;Buy The Dip&#8217;</a> 
Other Key Trades:
<ul>
<li>Ark purchased shares of Blade Air Mobility (BLDE) and sold shares of Rocket Lab USA Inc (RKLB).</li>
<li>The firm sold shares of Unity Software Inc (U) and purchased shares of Crispr Therapeutics AG (CRSP).</li>
</ul>
Read Next: 
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<li><a href="https://www.benzinga.com/24/11/42025223/legendary-investor-rob-arnott-says-stock-market-looks-and-feels-like-the-year-2000-as-wall-street-rallies-after-trumps-win-likely-to-see-a-bear-market?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Legendary Investor Rob Arnott Says Stock Market &#8216;Looks And Feels Like The Year 2000&#8217; As Wall Street Rallies After Trump&#8217;s Win: &#8216;&#8230;Likely To See A Bear Market&#8217;</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>

ARKK

Cathie Wood's Ark Sells $10M Of Tesla Stock As Trump's AV Plans Boost Stock

President-elect Donald Trump was discussing potential cabinet appointments with Brian Armstrong, the CEO of cryptocurrency exchange platform Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), in a closed-door meeting Monday
What Happened: The conversation would focus on cabinet and senior post appointments as Trump shapes his second administration, The Wall Street Journal <a href="https://www.wsj.com/livecoverage/stock-market-today-dow-sp500-nasdaq-live-11-18-2024/card/exclusive-trump-to-meet-privately-with-coinbase-ceo-brian-armstrong-DDkgF0xW1BW242rVeuqx">reported</a>, citing sources familiar with the matter. 
Coinbase didn&#8217;t immediately return Benzinga&#8217;s request for a comment. 
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42034692/dogecoin-killer-shiba-inu-burn-rate-skyrockets-6223-what-is-going-on?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Digs Deeper Into Cryptocurrency? B</a><a href="https://www.benzinga.com/general/social-media/24/11/42048594/trump-digs-deeper-into-cryptocurrency-bakkt-shares-soar-on-reported-interest-from-president-elects-media-company">akkt Shares Soar On Reported Interest From President-Elect&#8217;s Media Company</a>
Speculations pointed to Armstrong&#8217;s presence in <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001426/trump-aims-to-make-us-crypto-capital-of-the-planet-well-get-it-done" target="_blank" rel="noreferrer noopener">Trump's cryptocurrency presidential advisory council</a>, which was mentioned as part of his election promise earlier this year.
The meeting comes at a time when the cryptocurrency industry increasingly looks forward to a supportive federal government under Trump, who pledged various <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40179714/trumps-bitcoin-stockpile-plan-would-have-positive-impact-on-crypto-prices-but-would-leave-">pro-cryptocurrency initiatives</a> during the election campaign.
Why It Matters: Armstrong welcomed what he called &#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41450334/there-has-never-been-a-more-pro-crypto-congress-than-the-next-one-heres-why" target="_blank" rel="noreferrer noopener">America&#8217;s most pro-crypto Congress ever</a>,&#8221; noting that over 219 pro-cryptocurrency candidates were elected to the House and Senate.
Coinbase&#8217;s top executive has been vocal about his vision for reducing government size and enhancing economic freedom, <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42035165/coinbase-ceo-brian-armstrong-says-doge-department-is-a-once-in-a-lifetime-opprtunity-advocates-abolishing-individual-income-tax">praising the idea</a> of a Department of Government Efficiency, or DOGE, under Elon Musk and Vivek Ramaswamy.
There have also been speculations about Charles Hoskinson, the co-founder of Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>), <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41853924/cardano-up-13-as-speculation-around-charles-hoskinson-as-trump-crypto-policy-advisor-bubbles">potentially serving as a cryptocurrency policy advisor</a> in the Trump administration.
Price Action: Shares of Coinbase were down 0.74% in after-hours trading after closing up 6.40% on Monday, 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>.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42049664/paul-tudor-jones-boosts-bitcoin-holdings-potentially-making-btc-his-largest-non-options-investment">Paul Tudor Jones Boosts Bitcoin Holdings, Potentially Making BTC His Largest Non-Options Investment</a></li>
</ul>

$ADA

COIN

Trump And Coinbase CEO Brian Armstrong Reportedly In Talks Over Cabinet Appointments

Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) is set to lay off more than 2,500 employees across four U.S. states, including Washington, Oregon, South Carolina, and Missouri. This move is part of the company&#8217;s broader plan to cut 17,000 jobs, which accounts for 10% of <a href="https://www.benzinga.com/general/travel/24/11/42014904/boeing-begins-layoffs-is-the-737-max-recovery-enough-to-lift-ba-stock">its global workforce</a>.
What Happened: The layoffs will impact engineers, technicians, and non-union workers, reported Reuters. On Wednesday, the affected employees were informed that they would remain on Boeing&#8217;s payroll until Jan. 17, in compliance with federal regulations.
Boeing&#8217;s decision to issue a Worker Adjustment and Retraining Notification (WARN) in mid-November was widely anticipated. Additional layoffs are expected in December. The company may also reduce its workforce through workforce attrition, selective hiring, and the sale of subsidiaries.
The layoffs are expected to affect workers in the company&#8217;s key manufacturing hubs, providing an indication of the impact on the workforce.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42025317/dogecoin-repeating-its-historical-pattern-says-analyst-meme-coin-set-to-touch-3-by-trumps-inauguration-day-2025?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin &#8216;Repeating Its Historical Pattern,&#8217; Says Analyst: Meme Coin Set To Touch $3 By Trump&#8217;s Inauguration Day 2025</a>
Why It Matters: The layoffs come amid Boeing&#8217;s ongoing financial struggles. In October, the company announced <a href="https://www.benzinga.com/general/travel/24/11/42014904/boeing-begins-layoffs-is-the-737-max-recovery-enough-to-lift-ba-stock">plans to cut 10% of its workforce</a>. 
Despite these challenges, Boeing has been making efforts to recover. The company recently <a href="https://www.benzinga.com/news/large-cap/24/11/41946311/boeing-forecasts-67-growth-in-global-air-cargo-fleet-by-2043-driven-by-asia-demand">forecasted a 67% growth in the global air cargo fleet by 2043</a>, driven by strong demand in Asia. This indicates that Boeing is still a key player in the aviation industry and is working to adapt to changing market conditions.
Price Action: Boeing stock closed the regular trading session at $143.87 on Monday, up 2.63% for the day. In after-hours trading, the stock edged down 0.23%. Year to date, Boeing&#8217;s stock has declined significantly, falling 42.85%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42022585/michael-van-de-poppe-says-bitcoin-ethereum-and-altcoins-close-to-the-point-where-investors-can-buy-the-dip?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Michael Van De Poppe Says Bitcoin, Ethereum And Altcoins Close To The Point Where Investors Can &#8216;Buy The Dip&#8217;</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Boeing To Lay Off Over 2,500 Workers In The US Amid Global Workforce Reduction

WHLR

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

WHLRD

POLA

LGMK

WHLRL

WHLRP

Meme coin Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) is one of the cryptocurrencies that have traded higher since Donald Trump won the <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41778425/bitcoins-all-time-high-a-groundbreaking-milestone-and-strong-post-election-rally-coming-ex">2024 presidential election.</a>
The cryptocurrency trades well off of all-time highs, but Benzinga readers think the coin could go higher over the next year.
What Happened: Shiba Inu continues to see a <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42034692/dogecoin-killer-shiba-inu-burn-rate-skyrockets-6223-what-is-going-on">high burn rate</a>, an event that can increase the price of the cryptocurrency with a lower supply available.
While Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) hit new all-time highs and continues to trade higher after the 2024 election, Shiba Inu lost momentum. The cryptocurrency, which is the 11th largest by market capitalization, is down 10.5% over the past seven days with a current trading price of $0.00002457.
"Do you think Shiba Inu can reach one cent by the end of 2025," Benzinga recently asked readers.
The results were:
<ul>
<li>Yes: 47%</li>
<li>No: 53%</li>
</ul>
The Benzinga poll was nearly evenly split with 47% of readers saying they think Shiba Inu could hit one cent by the end of 2025.
Given the coin's low price currently, a move to one cent would drastically increase the valuation of the coin and is not likely without some increased burning to the supply.
For context, a $1 investment today could buy 40.700.04 SHIB. If Shiba Inu coin hit one cent, the $1 investment would turn into $407 and be up 40,600%.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41951961/bitcoin-to-100k-benzinga-readers-predict-if-btc-can-hit-new-milestone-before-end-of-2024">Bitcoin To $100K? Benzinga Readers Predict If BTC Can Hit New Milestone Before End Of 2024</a>
Why It's Important: Shiba Inu launched as a similarly themed cryptocurrency to Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41078941/if-you-invested-100-in-shiba-inu-when-the-coin-launched-heres-how-much-youd-have-now">in August 2020.</a> The coin leveraged the Ethereum network and created a decentralized exchange called ShibaSwap, which includes other tokens like BONE and LEASH.
Shiba hit an all-time high of $0.00008845 in October 2021. The coin was helped by the inclusion on several major cryptocurrency platforms like Coinbase, Kraken&nbsp;and&nbsp;Robinhood&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/22/04/26588234/shiba-inu-solana-polygon-and-compound-land-on-robinhood-what-you-need-to-know" target="_blank" rel="noreferrer noopener">in 2021 and 2022.</a>
Prior to then, it was harder for investors to buy Shiba Inu.
In September, Shiba Inu coin had a rally on news that a stablecoin called SHI could be launching. The launch of a stablecoin and the increasing burn rate of SHIB could point to increased attention on the meme coin in the coming months.
Another <a href="https://www.benzinga.com/24/11/42018208/bitcoin-ethereum-dogecoin-pepe-shiba-inu-benzinga-readers-pick-this-crypto-to-have-the-biggest-gain-before-end-of-2025">recent Benzinga poll </a>didn't have the same optimism for Shiba Inu coin compared to some other cryptocurrencies. Shiba Inu was picked last of the coins Bitcoin, Ethereum, Dogecoin, Shiba Inu and Pepe coin for which cryptocurrency would have the best return between now and the end of 2025.
Bitcoin won that poll with 40%, followed closely by Dogecoin at 36%. Shiba Inu coin ranked last at 7%.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41945659/dogecoin-to-69-cents-or-1-benzinga-readers-predict-how-high-it-could-fly-by-end-of-2024">Dogecoin To 69 Cents Or $1? Benzinga Readers Predict How High It Could Fly By End Of 2024</a></li>
</ul>
The study was conducted by Benzinga from Nov. 11 through Nov. 12, 2024, and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 47 adults.
Meme coins are among the topics to be explored at Benzinga's upcoming <a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a> event on Nov. 19.
Photo: Shutterstock

Exclusives

$SHIB

Will Shiba Inu Coin Reach 1 Cent By 2025? 47% Of Benzinga Readers Say…

President-elect Donald Trump seemingly agreed that military resources will be used to <a href="https://www.benzinga.com/topic/immigration">deport undocumented immigrants</a>.
What Happened: Trump's confirmation came via a repost on social media. Conservative activist Tom Fitton claimed the incoming administration will deploy military assets for a mass deportation program.
Trump's responded with the caption: "TRUE!!!" 
The statement aligns with earlier plans sketched out by Trump&#8217;s nativist advisors, including Stephen Miller and Tom Homan.
Miller and Homan, Trump&#8217;s border czar and former acting director of the U.S. Immigration and Customs Enforcement, devised the deterrence program to separate <a href="https://www.benzinga.com/news/23/05/32387527/nikki-haley-rejects-trumps-migrant-policy-to-separate-children-from-parents-should-never-get-to-that">thousands of immigrant families</a>.
<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">HUGE: President <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@RealDonaldTrump</a> confirms he is prepared to declare a national emergency and use the military assets to reverse the Biden invasion. <a href="https://t.co/XnqW121GnQ">pic.twitter.com/XnqW121GnQ</a>
&mdash; Tom Fitton (@TomFitton) <a href="https://twitter.com/TomFitton/status/1858487964516438088?ref_src=twsrc%5Etfw">November 18, 2024</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/economics/macro-economic-events/24/11/42027218/could-trumps-housing-plans-reshape-the-real-estate-market">Could Trump&#8217;s Housing Plans Reshape The Real Estate Market?</a>
Why It Matters: Miller, Trump&#8217;s deputy chief of staff, previously proposed using military funds to construct large-scale holding facilities for immigrants.
On Nov. 7, the day Trump&#8217;s<a href="https://www.benzinga.com/topic/2024-election"> re-election was confirmed</a>, stock opportunists pounced. The <a href="https://www.benzinga.com/general/politics/24/11/41779902/prison-stocks-geo-group-corecivic-rally-on-trump-2024-election-win-history-shows-the-gains-may-n">share prices of major prison stocks</a> — Geo Group (NYES: GEO) and CoreCivic (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CXW#NYSE">CXW</a>) — spiked. 
Geo and CoreCivic both closed in the red Monday, down 0.83% and 1.03%, respectively.
Trump&#8217;s critics warn his deportation plans will likely lead to families being broken up and force taxpayers to shoulder the billions it will cost to <a href="https://www.benzinga.com/startups/24/11/41722059/trumps-deportation-plan-faces-criticism-as-taxpayers-shoulder-the-billions-while-big-business-stands">fund such an initiative</a>.
The use of military resources in immigration enforcement is not without precedent internationally. Several countries have turned to their armed forces to manage immigration challenges, often citing national security concerns:
<ul>
<li>The Australian government <a href="https://www.bbc.com/news/world-australia-64898507">employed</a> its military under the direction of former Australian Prime Minister Tony Abbott&#8217;s 2013 "Operation Sovereign Borders&#8221; campaign. The military's role included detaining migrants in offshore facilities — a practice widely criticized by human rights organizations for alleged abuses and inhumane conditions.</li>
<li>Italy&#8217;s navy continues to intercept migrant ships. Last week, it <a href="https://apnews.com/article/italy-albania-migrants-asylum-processing-centers-9a1a0037a4fe87bf7e4f33b02d01c382">opened</a> detention centers in Albania to process thousands of asylum-seekers outside its borders. The plan does not call for families to be separated, according to the Associated Press.</li>
<li>India has stationed military units along its borders with Bangladesh and Myanmar, citing the need to curb illegal immigration. The military operations led to the controversial expulsion of Rohingya refugees fleeing persecution in Myanmar. This drew <a href="https://www.amnesty.org/en/latest/news/2024/10/myanmar-bangladesh-rohingya-community-facing-gravest-threats-since-2017/">condemnation</a> from international bodies such as the United Nations.</li>
<li>As a key entry point for migrants entering Europe, Greece has used its military to assist in patrolling borders and managing overcrowded refugee camps on islands like Lesbos. The military's involvement has been <a href="https://www.hrw.org/news/2020/03/17/greece-violence-against-asylum-seekers-border">criticized</a> for heavy-handed and harsh tactics.</li>
</ul>
What&#8217;s Next: Trump's rhetoric creates a precedent that raises questions about the balance between national security and civil liberties.
In the lead-up to Election Day, the <a href="https://www.benzinga.com/government/21/01/19152983/donald-trump-is-the-first-us-president-to-be-impeached-twice">twice-impeached</a> former president <a href="https://www.benzinga.com/markets/equities/24/10/41196721/trumps-dark-rhetoric-migrants-portrayed-as-criminals-amid-election-heat">often made graphic criticisms</a> of migrants. Many of his claims, linking them to crime and violence, were unsubstantiated.
A KFF <a href="https://www.kff.org/health-misinformation-and-trust/poll-finding/misinformation-about-immigrants-in-the-2024-presidential-election/">poll</a> showed 80% of Americans encountered false claims about migrants increasing crime, reflecting Trump&#8217;s fearmongering strategy.
The announcement comes as Trump continues to fill key cabinet positions, with some nominees facing scrutiny <a href="https://www.benzinga.com/markets/cannabis/24/11/42036132/trump-wants-matt-gaetz-confirmed-100-so-does-the-cannabis-industry">over qualifications and conduct</a>. 
Now Read:
<ul>
<li><a href="https://www.benzinga.com/news/24/11/42026047/gaetz-nomination-in-peril-due-to-gop-resistance" target="_blank" rel="noreferrer noopener">Gaetz Nomination In Peril Due To GOP Resistance</a></li>
</ul>
Photo: Pixabay

Government

Trump Responds 'TRUE!' To Conservative's Claim That Military Will Be Used Against Immigrants

Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) shares are soaring in Monday's after-hours session following an announcement that it has engaged BDO USA, P.C. as its independent auditor, effective immediately. 
Supermicro also said it submitted a compliance plan to the Nasdaq to support its request for an extension of time to regain compliance with its <a href="https://www.benzinga.com/pressreleases/24/11/b42049971/supermicro-announces-appointment-of-bdo-usa-as-independent-auditor-and-filing-of-compliance-plan-w">continued listing requirements. </a>
The Details: Super Micro indicated in its compliance plan to Nasdaq that it believes that it will be able to complete its Annual Report on Form 10-K for the year ended June 30, 2024, and its Quarterly Report on 10-Q for the fiscal quarter ended Sept. 30, 2024, and become current with its periodic reports within the discretionary period available to the Nasdaq staff to grant.
According to Nasdaq rules, Super Micro&#8217;s securities will remain listed pending Nasdaq&#8217;s review of the compliance plan.
Read More: <a href="https://www.benzinga.com/etfs/24/11/42044642/trump-appears-frustrated-as-elon-musk-chimes-in-on-treasury-secretary-adds-more-names-to-a-list-of-potential-picks">Trump Appears &#8216;Frustrated&#8217; As Elon Musk Chimes In On Treasury Secretary, Adds More Names To Short List&nbsp;</a>
&#8220;We are pleased to welcome BDO as Super Micro&#8217;s independent auditor,&#8221; said Charles Liang, CEO of Super Micro. &#8220;BDO is a highly respected accounting firm with global capabilities. This is an important next step to bring our financial statements current, an effort we are pursuing with both diligence and urgency.&#8221; 
The company's previous auditor, Ernst &amp; Young, resigned in late October <a href="https://www.benzinga.com/trading-ideas/movers/24/10/41625460/super-micro-computer-stock-dives-as-auditor-resigns-whats-going-on">amid allegations</a> of accounting irregularities and claims of potential export control violations.&nbsp;
The company initially engaged with Ernst &amp; Young in March 2023 to audit the company's financials for its fiscal year ending June 2024. Super Micro said the auditor resigned before issuing a report on the company's financials or the company's internal controls over financial reporting.
SMCI Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Super Micro Computer shares are up 25.44% at $27.02 after gaining 15.93% in Monday's regular session.  
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/movers/24/11/41949068/bitcoin-could-reach-1-million-by-2037-economist-says-buy-of-a-lifetime-opportunity">Bitcoin Could Reach $1 Million By 2037, Economist Says: &#8216;Buy Of A Lifetime&#8217; Opportunity</a></li>
</ul>
Image: Shutterstock

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