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Ceylon Graphite Corp is a graphite mining company. It is engaged in the exploration and production of high-grade graphite. The company owns the K1 production site and several other sites advancing towards production including M1, N1 and H1.

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Marques Brownlee, popularly known as MKBHD, highlights how Google&#8217;s Veo 2 AI video generator, owned by 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>), outshines OpenAI&#8217;s Sora model.
What Happened: On Thursday, Brownlee shared a YouTube Short of his observations pointing out that while Sora often displayed its AI nature through inaccuracies in movement and physics, Veo 2 delivered more realistic results.
However, he acknowledged that Veo 2 still has flaws, such as issues with complex scenes and garbled text.
One of the standout points in Brownlee's comparison was his emphasis on YouTube data—something that sets Veo 2 apart from other models, including OpenAI's Sora.
See Also: <a href="https://www.benzinga.com/24/12/42545936/samsung-galaxy-s25-ultra-and-s25-leaks-show-off-sleek-curved-design-and-slimmer-bezels-than-apples-iphone-16-pro-max?itm_source=parsely-api">Samsung Galaxy S25 Ultra And S25+ Leaks Feature Sleek Curved Design And Slimmer Bezels Than Apple&#8217;s iPhone 16 Pro Max</a>
He suggested that the difference between the two is like "using a little bit of YouTube data" versus "owning YouTube and just using all of it."
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<iframe loading="lazy" title="SORA vs VEO 2 - AI Generated Videos" width="500" height="281" src="https://www.youtube.com/embed/74J0uiZk29k?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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In March this year, former OpenAI CTO Mira Murati&#8217;s <a href="https://www.benzinga.com/news/24/03/37704187/is-openais-viral-ai-video-generator-sora-trained-on-youtube-and-instagram-cto-mira-murati-is-not-sur">uncertainty about whether</a> YouTube videos were used to train Sora created controversy. The following month, YouTube CEO Neal Mohan said that using YouTube videos in such manner would violate their policy.
When asked if Google is using YouTube to train Gemini, Mohan said, &#8220;Google uses YouTube content really in accordance. Again, back with those terms of service or individual contracts that we might have with creators or uploaders to our platform.&#8221;
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: Earlier this week, Elon Musk, who co-founded OpenAI in 2015 and left the AI startup in 2018 over some differences, <a href="https://www.benzinga.com/tech/24/12/42525899/elon-musk-reacts-after-sundar-pichai-shares-veo-2-as-google-looks-to-challenge-openais-sora-in-ai-video-race-looks-impressive">expressed admiration</a> for Google&#8217;s Veo 2.
On the flip side, Marc Andreessen has praised OpenAI&#8217;s Sora model, suggesting it may have <a href="https://www.benzinga.com/tech/24/12/42501018/marc-andreessen-praises-openais-sora-video-model-we-may-have-basically-just-solved-the-fundamental-challenge-of-robotics">solved a significant challenge</a> in robotics.
Earlier this year, Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) also introduced its <a href="https://www.benzinga.com/top-stories/24/09/40945913/as-the-ai-arms-race-wages-on-amazon-takes-shot-at-rival-adobe-with-new-text-to-video-product">AI-powered video tool</a> for advertisers, joining Adobe&#8217;s Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) Firefly Video Model <a href="https://www.benzinga.com/tech/24/12/42525899/elon-musk-reacts-after-sundar-pichai-shares-veo-2-as-google-looks-to-challenge-openais-sora-in-ai-video-race-looks-impressive">in the competitive market</a>.
In October 2024, Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) unveiled Movie Gen, a new tool that generates videos, images, and audio <a href="https://www.benzinga.com/24/12/42608267/meta-flexes-movie-gen-ai-as-instagram-boss-teases-video-editing-magic-for-2025">based on text prompts</a>.
Photo via Wikimedia courtesy of Ramsey Cardy/Collision via Sportsfile
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42546621/elon-musk-agrees-as-satya-nadella-reflects-on-ais-global-impact-in-2024-from-cancer-research-to-rainforest-conservation-and-more?itm_source=parsely-api">Elon Musk Agrees With Satya Nadella As Microsoft CEO Reflects On &#8216;Incredible Speed&#8217; Of AI Diffusion In 2024</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Tech

ADBE

AMZN

GOOG

GOOGL

Marques Brownlee Breaks Down How Google's AI Video Generator Veo2 Outpaces OpenAI's Sora

El Salvador made full use of the market drop Thursday by buying as many as 11 Bitcoins (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), worth over a million dollars, for its reserve.
What happened: According to the National Bitcoin Office, an agency tasked by President Nayib Bukele to oversee all things related to the leading cryptocurrency, the Central American nation upped its daily purchase tally to 11, 10 more than the one Bitcoin per day policy.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f1f8;&#x1f1fb;We just transferred over a million dollars worth of Bitcoin to our Strategic Bitcoin Reserve. <a href="https://t.co/4ZrxGw9Od0">pic.twitter.com/4ZrxGw9Od0</a>
&mdash; The Bitcoin Office (@bitcoinofficesv) <a href="https://twitter.com/bitcoinofficesv/status/1869899405391999015?ref_src=twsrc%5Etfw">December 20, 2024</a></blockquote>
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With the latest grab, the country's Bitcoin <a href="https://bitcoin.gob.sv/">stockpile </a>grew to 5,980.77, worth $581 million at current prices, with an unrealized profit of over $307 million.
The aggressive dip-buying followed <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42608314/bitcoin-ethereum-dogecoin-retreat-further-as-crypto-liquidations-top-1-billion-analyst-lays-out-scenario-for-btc-losing-96k-support">a sharp downturn in the market</a>, which saw the apex cryptocurrency fall below $96,000.
See Also:<a href="https://www.benzinga.com/24/12/42519107/if-you-invested-1000-in-bitcoin-when-the-first-bitcoin-etf-was-filed-heres-how-much-youd-have-today"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42560698/microstrategys-aggressive-bitcoin-strategy-raises-eyebrows-in-crypto-community">MicroStrategy&#8217;s Aggressive Bitcoin Strategy Raises Eyebrows In Crypto Community</a>
Why It Matters: The purchases come a day after El Salvador signed a $1.4 billion loan arrangement with the International Monetary Fund, which included a condition that the country scale back its Bitcoin push.
However, Stacy Herbert, Director of the National Bitcoin Office, stated that El Salvador will continue to buy Bitcoin at an "accelerated pace" and that Bitcoin-friendly policies will continue to be implemented.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f1f8;&#x1f1fb;EL SALVADOR SECURES $3.5 FUNDING DEAL &#x27a1;&#xFE0F;Bitcoin remains legal tender &#x27a1;&#xFE0F;El Salvador will continue buying bitcoin (at possibly an accelerated pace) for its Strategic Bitcoin Reserve &#x27a1;&#xFE0F;Bitcoin capital markets will continue to be built; for example, the recent tokenized issuance…
&mdash; Stacy Herbert &#x1f1f8;&#x1f1fb;&#x1f680; (@stacyherbert) <a href="https://twitter.com/stacyherbert/status/1869752262186217868?ref_src=twsrc%5Etfw">December 19, 2024</a></blockquote>
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El Salvador became the first country to adopt the leading digital asset as its legal tender in 2021. Despite these efforts, <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41608795/remember-the-passports-for-bitcoin-initiative-in-el-salvador-its-not-going-so-well">Bitcoin adoption</a> among Salvadorans remains low, with the majority still relying on the U.S. dollar as the country&#8217;s primary currency.
Price Action: At the time of writing, Bitcoin was exchanging hands at $97,618.09, down 3.33% 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>.&nbsp;
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42545656/bitcoin-is-no-manhattan-real-estate-peter-schiff-challenges-microstrategys-micheal-saylor-btc-doesnt-generate-any-income">Bitcoin Is No Manhattan Real Estate, Peter Schiff Challenges MicroStrategy&#8217;s Michael Saylor: &#8216;BTC Doesn&#8217;t Generate Any Income&#8217;</a></li>
</ul>

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

Cryptocurrency

$BTC

El Salvador Buys Bitcoin Dip, Scoops $1 Million Worth Of BTC A Day After IMF Urges Scaling Back

President-elect Donald Trump has transferred his entire stake in Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) to his revocable trust, according to Securities and Exchange Commission filings released on Thursday.
What Happened: The transfer of 114,750,000 shares, representing approximately 53% ownership of the company, was completed Tuesday with Trump listed as the sole beneficiary. The shares were gifted to the Donald J. Trump Revocable Trust without monetary compensation, the filing shows.
The move comes just days after Trump <a href="https://www.benzinga.com/general/social-media/24/12/42454492/djt-stock-in-focus-as-trump-set-to-ring-nyse-bell-today-heres-why-president-elect-once-threatened-to-shift-trump-media-from-nasdaq">rang the opening bell at the New York Stock Exchange</a>, where DJT stock has surged over 100% year-to-date. The company&#8217;s shares closed at $35.41 on Tuesday, valuing Trump&#8217;s transferred stake at approximately $4 billion.
The transfer follows Trump&#8217;s September pledge not to sell his shares in the Truth Social parent company. During that time, he had publicly criticized Nasdaq over routine trading halts, threatening to move the listing to the NYSE.
See Also: <a href="https://www.benzinga.com/markets/equities/24/12/42608297/tom-lee-explains-why-fewer-cuts-in-2025-could-boost-the-market-urges-investors-to-buy-the-dip-amid-recent-volatility">Tom Lee Explains Why &#8216;Fewer Cuts In 2025&#8217; Could Boost The Market, Urges Investors To &#8216;Buy The Dip&#8217; Amid Recent Volatility</a>
Why It Matters: DJT stock has shown significant volatility this year, trading between $11.75 and $79.38. The company has drawn increased attention as Trump prepares to return to the presidency while facing multiple legal challenges, including discussions around presidential <a href="https://www.benzinga.com/news/legal/24/12/42405278/trump-plays-presidential-immunity-card-in-truth-social-lawsuit-battle">immunity related to Trump Media</a>.
The filing notes that while the shares are now held by the trust, Trump maintains indirect ownership as the trust&#8217;s beneficiary. 
The move represents one of Trump&#8217;s largest financial maneuvers ahead of his <a href="https://www.benzinga.com/news/21/01/19072354/trump-acknowledges-a-new-administration-takes-over-on-jan-20-calls-for-calm-to-be-restored">scheduled Jan. 20 inauguration</a> for a second non-consecutive term as president.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/12/42608814/elon-musks-doge-role-in-government-set-for-fascinating-tough-fight-says-analyst-walter-isaacson-sees-challenges-for-tesla-ceos-federal-path">Elon Musk&#8217;s DOGE Role In Government Set For &#8216;Fascinating Tough Fight,&#8217; Says Analyst — Walter Isaacson Sees Challenges For Tesla CEO&#8217;s Federal Path</a></li>
</ul>
Image via Flickr
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Trump Transfers Entire DJT Stake To Revocable Trust Ahead Of Inauguration

Management

Donald Trump Jr. Transferred 114.75M Shares Of Trump Media & Technology Group To Revocable Trust, Including 553,176 Shares Held In Escrow Until March 2025; No Shares Were Sold During Transfer

Donald J. Trump Gifted 114.75M Shares Of Trump Media & Technology Group To Trump Revocable Trust; No Shares Were Sold During Transfer

Samsung Electronics Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) Galaxy S22 users face severe issues following the One UI 6.1.1 update.
What Happened: Released in September 2024, the update has caused devices to become permanently bricked, with some users also experiencing random reboots and overheating problems.
Affected users have been advised by Samsung&#8217;s customer support to replace the phone&#8217;s motherboard, which is costly as the devices are out of warranty.
The issue seems to primarily affect Exynos 2200-powered Galaxy S22 units in Europe and parts of Asia.
See Also: <a href="https://www.benzinga.com/tech/24/12/42525551/ahead-of-trumps-return-to-white-house-us-approves-406m-grant-for-taiwans-chipmaker-globalwafers?itm_source=parsely-api">Ahead Of Trump&#8217;s Return To White House, US Approves $406M Grant For Taiwan&#8217;s Chipmaker GlobalWafers</a>
&#8220;I've tried everything Samsung suggested: clearing the cache, factory resets—you name it. Nothing worked,&#8221; one user complained on Samsung's official online forum.
Adding, &#8220;I even had a Samsung repair tech come to my house. They suggested my motherboard needs to be replaced but refused to fix it under warranty because of a small, superficial crack on my screen (which can barely even be picked up by a camera).&#8221;
Samsung 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 South Korean smartphone maker reported a <a href="https://www.benzinga.com/markets/asia/24/10/41645191/samsung-profits-soar-but-companys-nvidia-ai-chip-race-lag-allows-sk-hynix-micron-to-take-the-lead-in">net income of 9.78 trillion won</a> ($7.1 billion) for the quarter ending in September.
Earlier this year, Samsung also announced plans to <a href="https://www.benzinga.com/news/24/09/40812318/samsung-to-reportedly-slash-global-workforce-by-up-to-30-in-certain-divisions-amid-intense-competiti">reduce its global workforce</a> by up to 30% in certain divisions, amid fierce competition from Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Huawei Technologies.
According to Statista, Samsung Electronics&#8217; Mobile Experience (MX) division brought in approximately $21.6 billion as of the third quarter of 2024, making it the top revenue driver.
The tech giant is currently preparing for the launch of its Galaxy S25 series, featuring a <a href="https://www.benzinga.com/24/12/42545936/samsung-galaxy-s25-ultra-and-s25-leaks-show-off-sleek-curved-design-and-slimmer-bezels-than-apples-iphone-16-pro-max">sleek design and running</a> on One UI 7.
Image Courtesy &#8211; Samsung
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/global/24/12/42499566/google-willow-nvidias-china-troubles-trump-on-ai-and-more-this-week-in-artificial-intelligence?itm_source=parsely-api">Google Willow, Nvidia's China Troubles, Trump On AI, And More: This Week In Artificial Intelligence</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

AAPL

SSNLF

Samsung One UI 6.1.1 Update Is Turning This Galaxy Series Phones Into Paperweights: Bricking, Random Reboots And Overheating Reported

Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) entered into a partnership with the decentralized oracle network Chainlink (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/link/usd">LINK</a>) Thursday in a bid to expand its ecosystem.
What Happened: The partnership would see the integration of Chainlink&#8217;s&nbsp;standard for blockchain interoperability as&nbsp;the primary cross-chain infrastructure for Shibarium, Shiba Inu&#8217;s Layer-2 blockchain. 
Additionally, the Cross-Chain Token standard would make Shiba Inu ecosystem tokens like SHIB, Doge Killer (LEASH), and Bone ShibaSwap (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BONE</a>) available across 12 different blockchains.
Shiba Inu&#8217;s mysterious lead, Shytoshi Kusama, deemed the development &#8220;huge news&#8221; for the ecosystem. 
&#8220;Expect much more from this partnershib,&#8221; Kusama said, in typical Shiba Inu lingo.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This is HUGE news for the <a href="https://twitter.com/hashtag/SHIBARMY?src=hash&amp;ref_src=twsrc%5Etfw">#SHIBARMY</a> and <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a>, <a href="https://twitter.com/search?q=%24BONE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BONE</a>, AND <a href="https://twitter.com/search?q=%24LEASH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LEASH</a>. Expect much more from this partnershib! <a href="https://t.co/99nRkzdA01">https://t.co/99nRkzdA01</a>
&mdash; Shytoshi Kusama&#x2122; (@ShytoshiKusama) <a href="https://twitter.com/ShytoshiKusama/status/1869832150545297508?ref_src=twsrc%5Etfw">December 19, 2024</a></blockquote>
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For the curious, Chainlink acts as a bridge between the blockchain and the outside world, enabling smart contracts to access data and events from off-chain sources. Based on Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), the platform&#8217;s flagship Cross-Chain Interoperability Protocol allows developers to build applications that can send tokens and messages across the blockchain.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42604209/from-bitcoin-to-multi-coin-the-formula-for-choosing-a-winning-digital-asset-index-for-inve">From Bitcoin to Multi-Coin: The Formula for Choosing a Winning Digital Asset Index for Investors</a>
Why It Matters: The inclusion of Chainlink&#8217;s standard could increase the accessibility of Shiba Inu assets, potentially leading to increased demand. The integration could also unlock more industry-specific use cases for Shibarium, a growing Layer-2 solution.
Earlier this week, Shiba Inu announced the airdrop of its newly launched meme coin&nbsp;Shifu&nbsp;(SHIFU) for its loyal community members. A significant proportion of the supply has been set aside for holders of SHIB, BONE, and LEASH. 
Price Action: The associated tokens failed to respond positively. SHIB was down 8.36% in the last 24 hours, while LINK was down 6.40%, 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>.&nbsp;
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/24/12/42602503/dave-portnoy-says-he-owns-15-million-bitcoin-13-million-xrp-bet-it-and-set-it-not-trading">Dave Portnoy Says He Owns $1.5 Million Bitcoin, $1.3 Million XRP: &#8216;Bet It And Set It, Not Trading&#8217;</a></li>
</ul>

$BONE

$ETH

$LINK

$SHIB

Shytoshi Kusama Shares 'Huge News' As Shiba Inu Partners With Chainlink To Boost Shibarium, Ecosystem Tokens

New Street Research analyst Pierre Ferragu has expressed support for Tesla Inc. CEO Elon Musk&#8216;s upcoming role in the newly announced Department of Government Efficiency while acknowledging the challenges ahead in reforming federal operations.
What Happened: &#8220;Will be fascinating to see DOGE at work: Elon&#8217;s method in a government environment,&#8221; Ferragu wrote on X on Thursday, noting the potential resistance from &#8220;lawmakers &amp; civil servants defending their personal interest.&#8221;
The Tesla CEO&#8217;s approach to government reform has drawn attention from notable figures including Walter Isaacson, an American journalist known for his acclaimed biographies of influential figures including Henry Kissinger, Benjamin Franklin, Albert Einstein, Steve Jobs, Jennifer Doudna, and most recently, Musk himself. 
Isaacson recently appeared on CNBC&#8217;s &#8216;Squawk Box&#8217; to discuss Musk&#8217;s new challenge in leading the DOGE and his relationship with Trump.
Isaacson stated that Musk&#8217;s handling of DOGE will be distinct from his previous approach with Twitter, now X, where he reduced the workforce by 80% to increase efficiency. Unlike his private ventures, DOGE will be a federal agency, meaning Musk won't be directly paying employees. 
Isaacson also pointed out that Musk holds significant influence in the defense sector and noted that Trump&#8217;s support will play a key role in shaping Congress&#8217;s response.
The comments follow President-elect Donald Trump&#8216;s November announcement appointing Musk and former presidential candidate Vivek Ramaswamy to lead DOGE, a new initiative aimed at restructuring federal agencies and reducing the government&#8217;s $6.5 trillion annual spending. The department is scheduled to <a href="https://www.benzinga.com/news/global/24/11/41927289/trump-appoints-elon-musk-and-vivek-ramaswamy-to-lead-doge-targeting-bureaucracy-and-65-trillion-federal-spending-we-will-not-go-gently">complete its work by Jul. 4, 2026</a>.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Will be fascinating to see DOGE at work: Elon's method in a government environment, with much more random individual agency (lawmakers &amp; civil servants giving the middle finger defending their personal interest) I'd root for DOGE and see them successful. It is going to be a… <a href="https://t.co/IroQKvB9Mh">https://t.co/IroQKvB9Mh</a>
&mdash; Pierre Ferragu (@p_ferragu) <a href="https://twitter.com/p_ferragu/status/1869833273469481214?ref_src=twsrc%5Etfw">December 19, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/equities/24/12/42608297/tom-lee-explains-why-fewer-cuts-in-2025-could-boost-the-market-urges-investors-to-buy-the-dip-amid-recent-volatility">Tom Lee Explains Why &#8216;Fewer Cuts In 2025&#8217; Could Boost The Market, Urges Investors To &#8216;Buy The Dip&#8217; Amid Recent Volatility</a>
Why It Matters: Musk, who has been vocal about reducing government expenditures, called the initiative one that would &#8220;send shockwaves through the system.&#8221; 
His appointment comes as he continues to challenge <a href="https://www.benzinga.com/markets/equities/24/11/42206297/amid-elon-musks-push-for-drones-and-ai-for-combat-transformation-analyst-pierre-ferragu-says-shift-the-defense-budget-in-favor-of-startups">traditional government spending approaches</a>, recently criticizing military programs like Lockheed Martin Corp.&#8216;s F-35 program, estimated to cost $1.8 trillion.
Financial experts have weighed in on the potential impact. InCred Global Wealth U.K. analyst Mario Georgiou suggests the initiative could yield annual savings between $50-100 billion, though this represents a small portion of the <a href="https://www.benzinga.com/24/11/42131911/donald-trump-appointed-doge-to-have-marginal-impact-saving-50-100-billion-says-analyst-as-elon-musk-aims-to-target-500-billion-plus-in-federal-expenditures">projected $6.7 trillion federal budget</a>.
The department&#8217;s mandate includes restructuring federal agencies, reducing regulations, and implementing accountability measures. While expressing optimism about DOGE&#8217;s potential success, Ferragu noted it would be &#8220;a fascinating tough fight,&#8221; highlighting the complexity of bringing private sector efficiency to government operations.
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<li><a href="https://www.benzinga.com/24/12/42608267/meta-flexes-movie-gen-ai-as-instagram-boss-teases-video-editing-magic-for-2025">Instagram Boss Shows How You Can Turn Yourself Into A Puppet — And That&#8217;s Just The Beginning</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.

Government

TSLA

Elon Musk's DOGE Role In Government Set For 'Fascinating Tough Fight,' Says Analyst — Walter Isaacson Sees Challenges For Tesla CEO's Federal Path

Social media platform, Bluesky is set to create its own payment system, a process that could take at least 12 months. The company is also planning to introduce subscriptions early next year.
What Happened: In an interview with Buffer on Thursday, COO Rose Wang said that Bluesky aims to align its financial incentives with those of its users, creators, and developers.
She said, &#8220;As they're making more money, we should be making money, but if they're not making money, we shouldn't be making money.&#8221;
Wang explained that the goal is to facilitate payments within the app and across other platforms, increasing transaction volumes. Creators will retain most of the earnings, while Bluesky will take a percentage of the transaction fees.
See Also: <a href="https://www.benzinga.com/24/12/42568430/senate-minority-leader-mcconnell-urges-supreme-court-to-reject-tiktoks-delay-request-pushing-for-january-ban-amid-first-amendment-debate?itm_source=parsely-api">Mitch McConnell Urges Supreme Court To Reject TikTok&#8217;s Delay Request, Says Platform Hoping For Less Hostile DOJ In Trump Administration</a>
&#8220;Coming is like 12 months. Payment systems take a while, but absolutely it&#8217;s things that we are prioritizing,&#8221; she stated.
Wang also spoke about the upcoming subscription model will offer users improved self-expression tools, such as custom icons and domains. However, core app features will remain accessible without a paywall.
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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: Several other social media platforms have also developed integrated payment systems to support transactions and enable monetization. For example:&nbsp;
Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has Meta Pay, which powers transactions across Instagram, Messenger, and Facebook.
YouTube, owned by Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google, provides monetization options like Super Chats, Channel Memberships, and tipping during live streams.
Elon Musk's X, formerly Twitter, is working on <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39382770/inside-elon-musks-plan-to-add-payments-to-x">expanding its payment capabilities</a> as part of its push to become a super app.
Bluesky, founded by Jack Dorsey, has been gaining traction, <a href="https://www.benzinga.com/general/social-media/24/12/42421291/alexandria-ocasio-cortez-aoc-hits-1-million-followers-with-top-bluesky-account-mark-cuban-gains-popularity-jack-dorsey-notably-absent">reaching nearly 25 million users</a> by Dec. 10, 2024. Notable figures like Alexandria Ocasio-Cortez and Mark Cuban have contributed to its popularity.
Image via Bluesky
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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</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Social Media

Bluesky Planning Payment Platform That Could Arrive In 12 Months, Says COO Rose Wang, Aims To Align Financial Incentives With Users

Australian computer scientist Craig Wright, who has consistently claimed to be Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) creator Satoshi Nakamoto, was held in contempt of court on Thursday and handed out a one-year suspended prison sentence for continuing to sue developers.
What Happened: The case was brought by the Crypto Open Patent Alliance, a non-profit that has waged a legal battle against Wright&#8217;s claims of being the inventor of the world&#8217;s largest cryptocurrency, according to a <a href="https://www.theguardian.com/technology/2024/dec/19/craig-wright-man-who-falsely-claimed-to-be-bitcoin-creator-sentenced-for-continuing-to-sue-developers">report </a>by The Guardian.
Earlier in May, Judge James Mellor ruled that Wright had lied &#8220;extensively and repeatedly&#8221;&nbsp;and forged documents to support&nbsp;his false claim and asked him to publicly deny being Satoshi and his copyright ownership of the Bitcoin whitepaper.
The Crypto Open Patent Alliance stated that Wright ignored this injunction and sued developers by bringing cases against cryptocurrency developers totaling more than £900 billion ($1.12 trillion) in October.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42601193/senator-lummis-introduces-strategic-bitcoin-reserve-proposal">Senator Lummis Introduces Strategic Bitcoin Reserve Proposal</a>
Judge James Mellor ruled on Thursday that Wright was in contempt of court, sentencing him to 12 months in jail suspended for two years.
Why It Matters: Wright has been a <a href="https://www.benzinga.com/markets/cryptocurrency/22/12/30182902/craig-wright-drops-controversial-quest-to-prove-hes-bitcoin-creator-only-validation-i-seek">contentious figure in the Bitcoin community</a> since he posted a blog in 2016 claiming, with questionable evidence, to be the apex cryptocurrency&#8217;s inventor.
Since then, he has gone to court in defense of his claim,&nbsp;filing lawsuits that allege&nbsp;libel for calling him a fraud or copyright infringement. In February,&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/02/36949178/is-craig-wright-actually-satoshi-nakamoto-bitcoins-alleged-creators-assertion-deemed-a-bra" target="_blank" rel="noreferrer noopener">Wright's assertion was deemed a ‘brazen lie'</a>&nbsp;in a U.K. High Court, and he was <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39808275/craig-wright-adds-disclaimer-to-website-admitting-hes-not-bitcoin-founder-satoshi-nakamoto">directed</a> to issue a legal disclaimer on his website homepage, X feed, and all Slack channels&nbsp;that he isn&#8217;t Satoshi. 
The real identity of Satoshi Nakamoto remains a subject of controversy and intrigue, with a <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41242615/peter-todd-is-satoshi-nakamoto-bitcoin-core-developer-denies-hbo-documentary-claims-im-not">recent HBO documentar</a>y identifying Bitcoin core engineer Peter Todd as the pseudonymous founder.
Photo Courtesy: Dan Henson On Shutterstock.com
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</ul>

Self-Proclaimed Bitcoin Inventor Craig Wright Awarded Prison Sentence For Defying Court Order

China kept its benchmark lending rates unchanged on Friday, with the one-year loan prime rate held at 3.1% and the five-year LPR at 3.6%. 
The People's Bank of China's decision comes as it works to stimulate economic growth and support the weakening yuan. The one-year LPR affects corporate and household loans, while the five-year LPR is used for mortgage rates. 
This move follows a <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42570219/whartons-jeremy-siegel-calls-stock-sell-off-a-healthy-reality-check-market-was-overly-optimistic">25-basis-point rate cut</a> by the U.S. Federal Reserve on Wednesday. The Fed also indicated that it will implement only two interest rate cuts in 2025, fewer than the four previously projected in September.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/12/42608297/tom-lee-explains-why-fewer-cuts-in-2025-could-boost-the-market-urges-investors-to-buy-the-dip-amid-recent-volatility">Tom Lee Explains Why &#8216;Fewer Cuts In 2025&#8217; Could Boost The Market, Urges Investors To &#8216;Buy The Dip&#8217; Amid Recent Volatility</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.

Asia

Economics

China Keeps Benchmark Lending Rates Steady As Fed Signals Fewer Cuts Ahead

Major U.S. indices closed Thursday with mixed results. The Dow Jones Industrial Average edged up by 0.04%, while the S&amp;P 500 slipped 0.09%, and the tech-focused NASDAQ dropped 0.1%.
These are the top stocks that gained the attention of retail traders and investors throughout the day.
Nike Inc.
Nike&#8217;s stock edged up by 0.26%, closing at $77.10. The stock reached an intraday high of $77.94 and a low of $76.43, with a 52-week range between $123.39 and $70.75. Nike reported its <a href="https://www.benzinga.com/general/sports/24/12/42605414/nike-q2-earnings-revenue-beat-eps-beat-shares-jump-nike-being-nike-again">second-quarter earnings</a>, revealing revenue of $12.35 billion, surpassing analyst expectations of $12.13 billion. Earnings per share were 78 cents, beating the 65 cents forecast by analysts. Despite a year-over-year revenue decline, the company showed resilience.
FedEx Corp.
FedEx shares rose by 1.00%, closing at $275.88. The stock&#8217;s intraday high was $278.48, with a low of $273.19, and it has traded between $313.84 and $234.45 over the past year. FedEx announced <a href="https://www.benzinga.com/news/earnings/24/12/42605034/fedex-stock-rallies-on-better-than-expected-q2-eps-freight-spin-off-announcement">better-than-expected second-quarter earnings</a> of $4.05 per share, beating the $3.91 consensus. However, revenue fell short at $22 billion, impacted by weaker FedEx Freight performance.
BlackBerry Ltd.
BlackBerry&#8217;s stock fell by 1.00%, closing at $2.98. It reached an intraday high of $3.08 and a low of $2.96, with a 52-week range of $4.27 to $2.01. The company reported third-quarter earnings, with revenue at $162 million and <a href="https://www.benzinga.com/news/earnings/24/12/42606549/blackberry-beats-q3-earnings-estimates-but-soft-guidance-keeps-shares-in-check">adjusted earnings of two cents per share</a>, exceeding expectations. Despite beating estimates, soft guidance kept the stock in check.
Rigetti Computing Inc.
Rigetti&#8217;s stock plummeted by 30.12%, closing at $7.47. The stock hit an intraday high of $10.18 and a low of $6.75, with a 52-week range from $12.75 to $0.66. The stock has seen <a href="https://www.benzinga.com/general/market-summary/24/12/42569883/quantum-computing-rigetti-d-wave-skyrocket-up-to-300-in-5-sessions-after-google-unveils-willow-chip-but-analysts-urge-caution-not-every-tiktok-guitarist-is-the-next-taylor-swift">significant volatility</a>, with a 52.95% surge on Thursday. Analysts have urged caution despite the recent gains following Google&#8217;s unveiling of its Willow quantum chip.
Tesla Inc.
Tesla&#8217;s stock declined by 0.90%, closing at $436.17. The stock&#8217;s intraday high was $456.36, with a low of $420.02, and it has ranged between $488.54 and $138.80 over the past year. Tesla&#8217;s European registrations <a href="https://www.benzinga.com/24/12/42571913/tesla-registrations-drop-by-nearly-41-in-november-in-eu-dragging-down-optimism-for-over-500000-ev-deliveries-in-q4">dropped by 41% in November</a>, raising concerns about its ability to meet its global EV delivery targets.
Prepare for the day&#8217;s trading&nbsp;<a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a>&nbsp;by Benzinga.
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<li><a href="https://www.benzinga.com/tech/24/12/42525257/analyst-hikes-teslas-price-target-to-515-musk-expresses-hope-for-stock-to-touch-69042?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Hopes TSLA Stock Will Reach $690 As Analysts Raise Price Target Despite Technical Indicators Flashing Warning Signals</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>

RGTI

Nike, Fedex, Blackberry, Rigetti, And Tesla: Why These 5 Stocks Are On Investors' Radars Today

The cryptocurrency market cracked further Thursday as risk sentiment remained low following the Federal Reserve&#8217;s hawkish statements.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-3.30%</td>
<td>$97,251.29</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>-6.08%</td>
<td>$3,425.34</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>-12.28%</td>
<td>$0.3159</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin rallied to $102,000 in the early hours but gave up gains as the day progressed, dipping below $96,000 for the first time in over a month.
Similarly, Ethereum lifted above $3,700 only to crash below $3,400 by late afternoon. The world's second-largest cryptocurrency was down over 11% over the week.
Over $1 billion was liquidated from the cryptocurrency market in the last 24 hours, with long liquidations accounting for $860 million.&nbsp;
Bitcoin's Open Interest plunged 4.24% in the last 24 hours, alongside a drop in spot price. That said, the percentage of Binance traders taking long positions for the cryptocurrency rose sharply to 61%, against 38% betting against the asset, according to the Long/Short Ratio.
The "Greed" sentiment weakened in the market, according to the Cryptocurrency 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 7:45 p.m. ET)</td>
</tr>
<tr>
<td>Movement (MOVE)</td>
<td>+21.14%</td>
<td>$0.7626</td>
</tr>
<tr>
<td>Bitget Token (BGB)</td>
<td>+6.55%</td>
<td>$4.46</td>
</tr>
<tr>
<td>Mantle (MNT)</td>
<td>+6.50%</td>
<td>$1.17</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.33 trillion, following a contraction of 4.91% in the last 24 hours.
The Dow Jones Industrial Average snapped out of its 10-day losing streak Thursday but only just, gaining 0.04%, to close at 42,342.24. The S&amp;P 500 slipped 0.09% to end at 5,867.08, while the tech-heavy Nasdaq Composite dropped 0.10% to 19,372.77.
These moves come a day after the stock market got hammered <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42563299/feds-powell-shocks-markets-its-a-new-phase-were-significantly-closer-to-neutral">after the Federal Reserve signaled a hawkish outlook</a>, with fewer rate reductions in 2025 than expected.
The benchmark 10-year Treasury yields increased to 4.55%, the highest since May 30.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Widely followed cryptocurrency analyst and trader Ali Martinez commented on Bitcoin's latest moves, stating that if the apex cryptocurrency loses $96,000 as support, it could dip further to $90,000 and $85,000.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Keeping it simple, just based on the Fib, if <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> loses $96,000, the next point of focus becomes $90,000 and $85,000. <a href="https://t.co/yJ1Hq2PNe2">pic.twitter.com/yJ1Hq2PNe2</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1869851163061039116?ref_src=twsrc%5Etfw">December 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Rekt Capital, another influential analyst, stated that if Bitcoin goes below the weekly support level of around $97,800, the 5-week uptrend will be reversed and the coin will enter a corrective phase.
"If this blue weekly support region fails and so does the 5-week uptrend (orange)&#8230; then BTC will probably transition into a correction."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> The Bearish Engulfing Candle persists And the Weekly level at $101.2k is struggling to hold as support If this blue Weekly support region fails and so does the 5-week uptrend (orange)&#8230; Then BTC will probably transition into a correction<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/KnIptVe958">https://t.co/KnIptVe958</a> <a href="https://t.co/7oYdQ5v2r6">pic.twitter.com/7oYdQ5v2r6</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1869808384574402864?ref_src=twsrc%5Etfw">December 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42601193/senator-lummis-introduces-strategic-bitcoin-reserve-proposal">Senator Lummis Introduces Strategic Bitcoin Reserve Proposal</a></li>
</ul>

Movers

Trading Ideas

$DOGE

Bitcoin, Ethereum, Dogecoin Retreat Further As Crypto Liquidations Top $1 Billion: Analyst Lays Out Scenario For BTC Losing $96K Support

U.S. stock markets could benefit from fewer interest rate cuts in 2025 despite recent volatility, according to Fundstrat&#8216;s head of research Tom Lee, who sees the Federal Reserve&#8217;s hawkish stance as <a href="https://www.benzinga.com/24/12/42599089/us-stocks-edge-up-micron-suffers-worst-day-since-march-2020-bond-yields-surge-whats-driving-markets-thursday">potentially beneficial for investors</a>.
What Happened: &#8220;The fewer cuts [the Fed does] in 2025, it actually is better for this bull market because it provides a lot of future ammunition to protect the economy,&#8221; Lee said on Thursday, according to Fundstrat.
The comments followed a tumultuous period in markets, with the Dow Jones Industrial Average as tracked by the SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) struggling through its longest losing streak since 1974 and the S&amp;P 500 tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), suffering its steepest one-day <a href="https://www.benzinga.com/markets/equities/24/12/42567950/jim-cramer-warns-of-incredible-panic-as-jerome-powells-cautious-rate-cuts-send-us-stocks-into-freefall">decline since September 2022</a>.
The selloff was triggered after the Federal Reserve cut rates by 25 basis points to 4.25%-4.5% but signaled just two rate cuts for 2025, down from <a href="https://www.benzinga.com/24/12/42599089/us-stocks-edge-up-micron-suffers-worst-day-since-march-2020-bond-yields-surge-whats-driving-markets-thursday">four projected in September</a>.
The central bank&#8217;s shift rattled investors who had been counting on more aggressive rate cuts. However, recent economic data continues to show resilience, with third-quarter GDP growth revised upward to 3.1% and weekly jobless claims falling to 220,000, below expectations of 230,000.
See Also: <a href="https://www.benzinga.com/news/earnings/24/12/42606549/blackberry-beats-q3-earnings-estimates-but-soft-guidance-keeps-shares-in-check">BlackBerry Beats Q3 Earnings Estimates, But Soft Guidance Keeps Shares In Check</a>
Why It Matters: &#8220;I know yesterday&#8217;s pullback was really painful, but to us, the fundamentals supporting stocks are intact,&#8221; Lee said. He suggested that recent market declines might be driven by panicked investors selling out of momentum trades as the year ends.
The hawkish Fed outlook has particularly impacted the bond market, with 30-year Treasury yields climbing to 4.75%. Despite these headwinds, Lee maintains a bullish stance, recommending investors &#8220;buy the dip.&#8221;
Wharton Professor Emeritus Jeremy Siegel offered a similar perspective, calling the market&#8217;s reaction a &#8220;healthy&#8221; reality check after what he described as &#8220;overly optimistic&#8221; <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42570219/whartons-jeremy-siegel-calls-stock-sell-off-a-healthy-reality-check-market-was-overly-optimistic">expectations for rate cuts</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/earnings/24/12/42605034/fedex-stock-rallies-on-better-than-expected-q2-eps-freight-spin-off-announcement">FedEx Stock Rallies On Better-Than-Expected Q2 EPS, Freight Spin-Off Announcement</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.

SPDR Dow Jones Industrial Average ETF Trust

Tom Lee Explains Why 'Fewer Cuts In 2025' Could Boost The Market, Urges Investors To 'Buy The Dip' Amid Recent Volatility

Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) plans to introduce a new AI video editing feature in 2025.
What Happened: On Thursday, Head of Instagram, Adam Mosseri, shared a teaser video of the AI tool that lets users tweak nearly every video detail with just a text prompt.
Powered by Meta&#8217;s Movie Gen AI, the tool simplifies video transformations for creators without advanced editing skills.
See Also: <a href="https://www.benzinga.com/tech/24/12/42570376/jeff-bezos-backed-perplexity-raises-500-million-tripling-its-valuation-to-9-billion-as-competition-with-google-and-openai-heats-up?itm_source=parsely-api">Jeff Bezos-Backed Perplexity Raises $500 Million, Tripling Its Valuation To $9 Billion As Competition With Google And OpenAI Heats Up</a>
The teaser shows AI altering Mosseri&#8217;s appearance and background, as well as turning him into a felt puppet.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/19202935/Screenshot-2024-12-20-at-6.51.48%E2%80%AFAM-1024x868.png" alt="" class="wp-image-700744" /><figcaption class="wp-element-caption">Source: Instagram</figcaption></figure>
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Why It Matters: Subtle edits, like adding objects or accessories like a gold chain, blend seamlessly without distortion. However, OpenAI's Sora video model initially impressed with polished previews, but its public release fell short of expectations.
It remains to be seen whether Instagram's AI video tools will deliver on their promise once they debut.
Meta first introduced its Movie Gen AI <a href="https://www.benzinga.com/top-stories/24/10/41188250/metas-movie-gen-brings-ai-powered-video-audio-creation-to-all">video generator in October</a>. While the exact release date remains unannounced, Instagram will be the first platform to integrate this innovative text-to-video model.
In September 2024, Adobe Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) also unveiled its <a href="https://www.benzinga.com/markets/equities/24/09/40819405/adobe-shakes-up-video-editing-with-ai-powered-creation-tools-whats-on-the-cards">generative AI video capabilities</a> with the Adobe Firefly Video Model.
Image via Unsplash
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/trading-ideas/technicals/24/12/42509206/soundhound-ai-soars-over-700-short-squeeze-potential-has-traders-talking?itm_source=parsely-api">SoundHound AI Soars 700%: Short Squeeze Potential Has Traders Talking</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Media

Instagram Boss Shows How You Can Turn Yourself Into A Puppet — And That's Just The Beginning

On Thursday, Cathie Wood-led Ark Invest made some significant trades, notably selling off Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) stock.
The Tesla Trade
The ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) reduced its holdings in Tesla Inc. by selling 14,016 shares. This move comes amidst a month where Tesla&#8217;s stock has been on a remarkable upswing, reaching new highs. The Elon Musk-led company&#8217;s stock has risen over 26% in December.
The shares were sold at a closing price of $436.17, totaling approximately $6.1 million in value. This decision follows a <a href="https://www.benzinga.com/24/12/42476448/cathie-woods-ark-invest-dumps-another-15-3-million-tesla-shares-pivots-to-this-flying-taxi-startup">previous sale</a> of Tesla shares by Ark Invest on Wednesday when the firm sold another $9.06 million worth of stock. These sales took place not long after Musk expressed optimism that the stock could touch the $690 mark.
The Palantir Trade
On the same day, Ark Invest sold Palantir stock. The firm sold 33,402 shares of the Alex Karp-led company through ARKK. The transaction was valued at $2.5 million with shares closing at $74.21 on Thursday.
This decision comes on the heels of Palantir&#8217;s recent announcement of a $400.7 million <a href="https://www.benzinga.com/24/12/42572384/palantir-strengthens-army-partnership-adds-ai-and-data-enhancements-in-400-million-deal">contract extension</a> with the U.S. Army, with a total potential ceiling of $618.9 million. The agreement aims to operationalize data across the entire Department of the Army, enabling broader integration of data and AI capabilities. Despite the company&#8217;s stock climbing 350% year-to-date and nearly 18% in December, company insiders have been <a href="https://www.benzinga.com/24/12/42538479/palantir-stock-rockets-350-ytd-but-insiders-cash-out-should-you-follow-suit">selling off shares</a>.
Other Key Trades:
<ul>
<li>ARKG and ARKK bought shares of Tempus AI Inc (TEM). ARKG sold shares of Ionis Pharmaceuticals Inc. (IONS).</li>
<li>ARKG also bought shares of Personalis Inc (PSNL).</li>
</ul>
Read Next: 
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<li><a href="https://www.benzinga.com/general/entertainment/24/12/42545829/mark-cuban-expresses-sympathy-for-hawk-tuah-girl-amid-meme-coin-controversy-wasnt-something-she-fully-understood?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Expresses Sympathy For &#8216;Hawk Tuah&#8217; Girl Amid Meme Coin Controversy: &#8216;Wasn&#8217;t Something She Fully Understood&#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>

ETFs

ARKK

PLTR

Cathie Wood's Thursday Moves: Dumps Buzzing Stocks Tesla And Palantir

On Thursday, the House turned down a contingency plan proposed by House Speaker Mike Johnson (R-La.) aimed at averting a government shutdown and suspending the debt limit.
What Happened: Johnson&#8217;s measure, introduced only hours before the vote, failed to secure the necessary two-thirds majority for approval, receiving a 174-235-1 vote, <a href="https://thehill.com/homenews/house/5049768-government-funding-debt-ceiling-bill-fails/">reported</a> The Hill. The bill encountered opposition from Democrats, led by Minority Leader Hakeem Jeffries (N.Y.), along with a few conservative Republicans, mainly due to its inclusion of a two-year debt limit suspension, a provision requested by President-elect Donald Trump.
The future course of action for Johnson remains uncertain. With&nbsp;the Republican opposition, the bill&nbsp;is unlikely to pass if Johnson tries to push it through a regular rule process that only requires a simple majority.
If no legislation is approved by Congress&nbsp;by 11:59 p.m. on Friday,&nbsp;the government will face a shutdown. This failed vote is a setback for Johnson, who is striving to prevent a shutdown by the impending deadline and retain his leadership position in the coming year.

The proposed bill would have maintained the government funding at existing levels through March 14, suspended the debt limit for two years, and allocated approximately $100 billion in disaster relief and about $10 billion for farmer economic assistance.
Despite President-elect Trump&#8217;s endorsement of the package, a few Republicans promptly rejected the legislation. Democrats also overwhelmingly opposed the bill, with lawmakers reportedly chanting &#8220;hell no&#8221; during a closed-door House Democratic Caucus meeting after the bill&#8217;s introduction.
See Also: <a href="https://www.benzinga.com/24/12/42545204/marjorie-taylor-greene-pushes-to-sell-off-usps-amid-doge-momentum-we-need-to-privatize-ive-been-saying-it-for-years?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Marjorie Taylor Greene Pushes To Sell Off USPS Amid DOGE Momentum: &#8216;We Need To Privatize&#8230;I&#8217;ve Been Saying It For Years&#8217;</a>
Why It Matters: Earlier, U.S. Congressional leaders had <a href="https://www.benzinga.com/24/12/42544562/congressional-leaders-reach-bipartisan-deal-to-avert-government-shutdown">reached a bipartisan agreement</a> to extend government funding and avert a shutdown. However, this agreement was rejected by House Republicans under pressure from President-elect Trump, Vivek Ramaswamy and Elon Musk, leading to the current situation. Ramaswamy and Musk are the leaders of the Department of Government Efficiency, a body whose task it is to cut wasteful government spending. 
Trump&#8217;s unexpected dismissal of the bipartisan proposal has escalated the fears of a U.S. government shutdown ahead of Christmas. However, research firm Edward Jones suggests that markets tend to remain positive half the times during past government shutdowns since 1976, despite the short-term volatility introduced by such political events.
House Mike Johnson. Photo via Shutterstock.
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

House Rejects Trump-Endorsed Backup Plan To Prevent Government Shutdown And Suspend Debt Limit: Lawmakers Chant 'Hell No'

The House Artificial Intelligence Task Force released a report on Tuesday with recommendations on how Congress can boost the development of AI while also protecting against potential risks <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42561047/amazon-meta-alphabet-spotify-lead-jpmorgans-2025-tech-picks-for-ai-potential">of the technology. </a>
The Details: The bipartisan House AI task force, chaired by Rep. Jay Obernolte (R-Calif.), released the 253-page<a href="https://www.speaker.gov/wp-content/uploads/2024/12/AI-Task-Force-Report-FINAL.pdf"> document</a> as the culmination of the group's work which began in February.
Obernolte said the report is just the "beginning of the conversation" around AI policy. 
"It will only be effective if future Congresses implement some of the recommendations that we have created," he added.&nbsp;
Read More: <a href="https://www.benzinga.com/general/social-media/24/12/42598651/mystery-drone-sightings-all-over-the-country-trump-says-what-to-know-about-investigations-lawmakers-reactions">&#8216;Mystery Drone&#8217; Sightings Spark Investigations, Politicians Respond: &#8216;Shoot Them Down,&#8217; Trump Says</a>
The representative said the task force met to consider bills that it could endorse and introduce for passage this Congress, but the group agreed not to do so in order to remain bipartisan. 
"Disagreements started to emerge about the language in each individual bill and we realized that if we wanted to maintain this coalition that was broadly bipartisan … it probably was counterproductive to actually be talking about legislative language," Obernolte said.
The report contains 66 key findings and 89 recommendations across 14 areas and will serve as the foundation for future legislative action on AI. The effects of future AI legislation will ripple across industries, government agencies and individuals.&nbsp;
Why It Matters: The task force wrote in its report that the government should lead by example and foster trust in AI by using the technology to improve efficiency and services while adopting responsible policies surrounding its use.&nbsp;
Companies that are sufficiently large and capable of handling the government's needs, like 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>) could benefit from contracts to supply agencies and departments with AI services. 
The House task force also highlighted the importance of promoting AI innovation which may include further legislation like the CHIPS and Science Act, which was designed to promote U.S. semiconductor manufacturing. Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) received more than $7 billion in direct funding and Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) received $6.6 billion in funding from the program.
Another principle the task force emphasized was its duty to protect against AI-related risks and harms. Companies developing large AI models, such as OpenAI and Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) may need to report on training and safety processes if the government determines they could pose security or public health risks. 
The task force also suggested that future Congresses take an "incremental approach" to AI regulation as the technology is rapidly evolving and legislation will need to adapt and evolve as well.&nbsp;
"What we're embracing here is incrementalism. We don't think it's important that everyone agrees on every single aspect of AI immediately," Obernolte said.
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Photo: Shutterstock

Large Cap

Regulations

INTC

Here's What The Latest Congressional AI Report Could Mean For Big Tech

Residents in one state could lease a new vehicle with a $0 down and $0 a month offer before taxes, in a move that could increase<a href="https://www.benzinga.com/electric-vehicles"> electric vehicle adoption.</a>
 What Happened: With concerns that electric vehicle regulatory credits <a href="https://www.benzinga.com/news/24/11/41781921/what-does-trumps-victory-mean-for-ev-giant-tesla-and-the-big-3-automakers">could disappear</a> under President-elect Donald Trump, residents in the state of Colorado may want to hear more about the latest offer.
The Larry H. Miller Chrysler Dodge Ram FIAT Denver dealership, which sells and leases Stellantis NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) vehicles has a <a href="https://www.lhmchryslerdodgeramfiatdenver.com/fiat-offer.htm">new </a>$0 down, $0 a month offer for the Fiat 500e.
The 27-month lease, with a 10,000 mile per year allowance, has the new offer available to select customers.
Customers will still have to pay taxes on the offer, which total around $1,298 according to an Electrek <a href="https://electrek.co/2024/12/18/crazy-fiat-500e-prices-are-back-you-can-lease-one-for-0-mo-yes-zero-in-co/">report</a>, along with a $395 disposition fee, totaling around $1,693. This calculates out to around $63 per month for a new electric vehicle lease.
Read Also:<a href="https://www.benzinga.com/news/management/24/12/42258470/jeep-marker-stellantis-ceo-carlos-tavares-resigns-amid-falling-us-sales-and-trade-pressures-board-cites-different-views"> Jeep Maker Stellantis&#8217; CEO Carlos Tavares Resigns Amid Falling US Sales And Trade Pressures: Board Cites &#8216;Different Views&#8217; &nbsp;</a>
Why It's Important: The new offer highlights how Colorado is one of the most friendly states when it comes to electric vehicles, which includes $7,500 in state tax credits on select EVs on top of $7,500 in federal tax credits. 
<a href="https://www.benzinga.com/news/23/08/33589652/tesla-vehicle-for-under-15-000-not-yet-but-this-state-has-incentives-to-get-the-price-under-20-000">Benzinga previously reported </a>that combining federal and state credits on a Tesla Model 3 RWD in August 2023 could get the starting price from $40,240 to under $20,000.
"Very compelling," Tesla CEO Elon Musk said at the time. &nbsp;
<a href="https://www.benzinga.com/news/24/07/39677353/electric-vehicle-lease-for-19-a-month-dealership-in-this-state-has-new-offer-to-lure-customers">Benzinga also shared </a>that a Colorado Nissan dealer was offering a $0 down, $ 19 a month offer ($79 per month with fees) on a 2025 Nissan Leaf S earlier this year.
Colorado Gov. Jared Polis made a push to see more electric vehicles sold in the state, with a goal of one million plug-in vehicles on the road by 2030.
Read Next: 
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</ul>
Photo: Fiat 500e, Courtesy Stellantis

STLA

EV Lease Nearly Free With $0 Down, $0 Month Offer In This State

Cansortium Inc. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/TIUM#CSE">TIUM</a>) (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/CNTMF#OTCQB">CNTMF</a>) also known as "FLUENT" and RIV Capital Inc. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/RIV#CSE">RIV</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNPOF#OTC">CNPOF</a>) announced on Thursday the completion of a previously announced arrangement with RIV Capital whereby FLUENT acquired all of the issued and outstanding Class A common shares of RIV Capital in exchange for FLUENT shares.
Under the terms of the agreement, RIV Capital shareholders received 1.245 of a common share of FLUENT in exchange for each RIV Capital share held. As a result, shareholders of FLUENT hold approximately 51.25% of the combined business of FLUENT and RIV Capital shareholders and The Hawthorne Collective together, hold approximately 48.75% of the combined company, each on a fully diluted basis.
Read Also: <a href="https://www.benzinga.com/24/11/42244572/cannabis-focused-riv-capital-reports-186-yoy-surge-in-q3-revenue-ahead-of-merger-that-will-cover-25-of-us-population">Cannabis-Focused RIV Capital Reports 186% YoY Surge In Q3 Revenue Ahead Of Major Merger That Will Cover 25% Of US Population</a>
The combined company will continue to operate under the FLUENT name. FLUENT shares will continue to trade on the Canadian Securities Exchange under the symbol "TIUM.U" and on the OTCQB Venture Market under the symbol "CNTMF."
Robert Beasley has been named CEO of the combined company. RIV shares were delisted from the CSE at market close on Dec. 19, 2024. The company will cause RIV Capital to apply to the relevant Canadian securities regulatory authorities to cease to be a reporting issuer under applicable Canadian securities laws.
<h1 class="wp-block-heading">Management Commentary</h1>
"I am thrilled to complete this transaction, and I would like to thank our combined teams for all of their hard work over the past few months and our shareholders for their strong support," said Beasley. "Together, we have created one of the most well-positioned cannabis operators in the industry, with a strategic footprint in four key growth markets and a strong balance sheet which will allow us to act on accretive growth opportunities."
Beasley added, "With New York legal retail sales on pace to exceed $1 billion by year-end, our recent successful launch of MOODS in New York underscores the immense potential of the Combined Company, as we have introduced FLUENT's brands to scale the wholesale operations and gain additional shelf space in dispensaries across the state."
David Vautrin, former chief revenue officer and interim CEO of RIV Capital and, upon closing, now chief commercial officer of FLUENT called the deal transformational.
"This is a transformational deal for RIV Capital and represents the culmination of substantial work for both FLUENT and RIV Capital," Vautrin said. "As evidenced by past performance, we believe FLUENT is one of the most fundamentally sound and now one of the most well-positioned multi-state operators in the US.."
Now Read:
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<li><a href="https://www.benzinga.com/markets/cannabis/24/12/42597912/pesticides-in-pot-the-overlooked-dangers-of-californias-legal-weed">Pesticides In Pot: Overlooked Dangers Of California&#8217;s Legal Weed</a></li>
</ul>
Courtesy photo

Cannabis

Retail Sales

CNPOF

CNTMF

CSE:RIV

CSE:TIUM

Cansortium Completes RIV Capital Acquisition, Adding New York Retail, Wholesale, Cannabis Cultivation Operations

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