First Trust Preferred Securities and Income ETF ETF (ARCA: FPE)

Latest news for First Trust Preferred Securities and Income ETF ETF (ARCA:FPE)

First Trust Preferred Securities and Income ETF ETF

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Under normal market conditions, the fund invests at least 80% of its net assets (including investment borrowings) in preferred securities (Preferred Securities) and income-producing debt securities (Income Securities). The fund invests in securities that are traded over-the-counter or listed on an exchange.

Wells Fargo & Co., Class A, Series L, Conv. Pfd.

'bank of America Corp.0.0725 Preferred Series 'l' Convert'

iShares S&P US Preferred Stock Index Fund


2025 marks a time of uncertainty for many investors—despite stellar performance in 2024 and a post-election bump that lasted through mid-December, the S&amp;P 500 and the market as a whole face increasing

Top 3 Preferred Stock ETFs Offering Stability and High Dividends

First Trust Institutional Preferred Securities and Income ETF

With U.S. stock futures trading higher this morning on Wednesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>) to report quarterly earnings at $1.34 per share on revenue of $11.01 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Abbott shares went up 0.08% to $116.88 in after-hours trading.</li>
<li>Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) reported stronger-than-expected fourth-quarter financial results. Netflix reported it added 18.91 million paid subscribers in the fiscal quarter, up 15.9% year-over-year. The company said it sees full-year revenue of $43.5 billion to $44.5 billion, up $0.5 billion from the company&#8217;s previous range. Netflix shares jumped 14.4% to $994.80 in the after-hours trading session.</li>
<li>Analysts are expecting Procter &amp; Gamble Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) to post quarterly earnings at $1.86 per share on revenue of $21.54 billion. The company will release earnings before the markets open. Procter &amp; Gamble shares gained 1% to $163.38 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Interactive Brokers Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBKR#NASDAQ">IBKR</a>) posted better-than-expected fourth-quarter financial results. The company reported quarterly earnings of $2.03 per share which beat the analyst consensus estimate of $1.84 per share. The company reported quarterly sales of $1.39 billion which beat the analyst consensus estimate of $1.37 billion. Interactive Brokers shares gained 3.5% to $199.59 in the after-hours trading session.</li>
<li>Analysts expect Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) to post quarterly earnings at $2.01 per share on revenue of $22.44 billion before the opening bell. Johnson &amp; Johnson shares gained 0.6% to $149.00 in after-hours trading.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/25/01/43096091/jim-cramer-this-tech-stock-is-a-buy-louisiana-pacific-has-been-a-great-stock">Jim Cramer: This Tech Stock Is A Buy, Louisiana-Pacific Has Been A &#8216;Great Stock&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

Earnings

News

Pre-Market Outlook

Markets

Trading Ideas

IBKR

NFLX

Netflix, Procter & Gamble And 3 Stocks To Watch Heading Into Wednesday

The alliance combines the deep technical expertise of McKinsey's AI practice, QuantumBlack, and its track record of deploying and scaling AI solutions across industries with C3 AI's cutting-edge Enterprise AI software applications to help clients unlock the power of Enterprise AI and agentic AI to realize significant operational improvements and unlock new growth opportunities.

C3 AI And McKinsey Announce Alliance To Drive Rapid And Scalable AI Solutions For Global Enterprises

Announces intent to spin out and form a growth-oriented joint venture for LanzaX, the Company's&nbsp;differentiated synthetic biology platform, with Tharsis Capital joining as new LanzaX strategic partner to accelerate financing for the synbio development pipeline
Appoints new Interim Chief Financial Officer of LanzaTech to streamline biorefining platform growth priorities and heighten focus on cost reductions

LNZA

Reported Earlier, LanzaTech To Spin Out LanzaX Synbio Division In Joint Venture With Tharsis Capital; Appoints Justin Pugh As Interim CFO

A Google parent-owned startup is poised to begin clinical trials of its first artificial intelligence-designed drug by year-end, marking a significant milestone in pharmaceutical development as major tech companies increasingly invest in AI-powered healthcare solutions.
What Happened: Isomorphic Labs, an Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) subsidiary, is targeting major disease areas including oncology, cardiovascular conditions, and neurodegeneration, founder Demis Hassabis <a href="https://www.ft.com/content/41b51d07-0754-4ffd-a8f9-737e1b1f0c2e">told</a> Financial Times, speaking at the World Economic Forum in Davos. 
The company has already secured partnerships with Eli Lilly and Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) and Novartis AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>) for six drug development programs.
&#8220;It usually takes an average of five to 10 years to discover one drug. And maybe we could accelerate that 10 times, which would be an incredible revolution in human health,&#8221; said Hassabis, who recently received the Nobel Prize in Chemistry.
See Also: <a href="https://www.benzinga.com/markets/equities/25/01/43119464/netflix-raises-prices-16-peter-schiff-warns-of-escalating-inflation-risks-ahead-of-trump-policies">Netflix Raises Prices 16%, Peter Schiff Warns Of Escalating Inflation Risks Ahead Of Trump Policies</a>
Why It Matters: The announcement comes as Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) unveiled plans for an AI-driven cancer vaccine system capable of delivering personalized treatments within 48 hours. The initiative is <a href="https://www.benzinga.com/markets/equities/25/01/43118941/oracles-larry-ellison-says-cancer-vaccine-tailored-in-48-hours-could-soon-be-a-reality-as-trump-announces-500-billion-ai-investment">part of a $500 billion AI infrastructure project</a> called Stargate, developed in partnership with OpenAI and SoftBank Group.
Investment in AI-powered drug discovery has gained momentum, with ARK Invest CEO Cathie Wood projecting a $400 billion market opportunity in <a href="https://www.benzinga.com/general/biotech/24/11/42206182/cathie-wood-sees-400b-opportunity-in-biologics-how-have-her-bets-fared">biologics over the next five years</a>. The sector has attracted significant attention from investors, though companies like Crispr Therapeutics AG and Intellia Therapeutics Inc. have shown considerable market volatility.
Isomorphic Labs, spun out from Google DeepMind in 2021, represents a growing trend of tech giants leveraging AI to streamline the traditionally lengthy and expensive drug development process. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/01/43119243/martin-shkreli-calls-ionq-and-rigetti-best-shorts-despite-recent-stock-gains-cites-offline-quantum-systems">Martin Shkreli Calls IonQ And Rigetti &#8216;Best Shorts&#8217; Despite Recent Stock Gains, Cites Offline Quantum Systems</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.

Biotech

Equities

Health Care

Tech

CRSP

GOOGL

NTLA

ORCL

Google Parent-Owned Startup To Launch AI-Designed Drug Trials By Year-End, Partnering With Eli Lilly And Novartis To Tackle Major Diseases

Elon Musk&#8217;s rocket manufacturing company <a href="https://www.benzinga.com/general/space/25/01/42755343/spacex-hits-new-milestone-in-2024-with-134-launches">SpaceX</a> on Tuesday launched its Falcon 9 rocket with 27 Starlink satellites to low-Earth orbit from California and subsequently landed a Falcon 9 rocket booster for the 400th time.
What Happened: Following separation from the rocket&#8217;s second stage, the booster that supported the Starlink mission landed back on Earth, enabling the company to reuse it for another mission.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Falcon lands for the 400th time! <a href="https://t.co/pwNCwAb3SK">pic.twitter.com/pwNCwAb3SK</a>
&mdash; SpaceX (@SpaceX) <a href="https://twitter.com/SpaceX/status/1881732223831080967?ref_src=twsrc%5Etfw">January 21, 2025</a></blockquote>
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The booster that supported the mission on Tuesday previously launched Oneweb 4, USSF-62, and other Starlink missions. The maximum number of missions to be flown by one Falcon 9 booster to date is 25.
Why It Matters: SpaceX is attempting to make its rockets reusable to bring down the cost of spaceflight as the cost of the first stage constitutes the majority of the cost of a new rocket. 
In July 2023, Musk warned that rocket manufacturers will&nbsp;<a href="https://www.benzinga.com/news/23/07/33383081/elon-musk-tells-rocket-makers-go-all-in-on-reusability-or-be-utterly-uncompetitive" target="_blank" rel="noreferrer noopener">need to go all-in on reusability</a>&nbsp;or risk being uncompetitive.
&#8220;Rockets are no different from other transport technologies, just harder to make reusable. No one would buy a single-use airplane, car, or even bicycle! You&#8217;d need to tow another car just for the return trip,&#8221; Musk said.
While the Falcon 9 is only partially reusable, SpaceX is attempting to make its Starship launch vehicle wholly reusable, landing back not just the booster but also the spacecraft. However, the Starship is currently only in the <a href="https://www.benzinga.com/25/01/43052113/bezos-musk-extend-cordial-support-despite-building-rivalry-between-their-rocket-companies">testing and development phase. </a>
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/tech/25/01/43090016/which-evs-might-lose-7500-ev-tax-credit-under-trump-administration" target="_blank" rel="noreferrer noopener">Here Are The EVs Which Could Lose $7,500 EV Tax Credit Under Trump Administration</a></li>
</ul>
Photo courtesy: Shutterstock

SPACE

SpaceX Falcon 9 Delivers 27 Starlink Satellites To Orbit, Marks 400th Booster Landing

Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) will release earnings results for its fourth quarter, before the <a href="https://www.benzinga.com/quote/JNJ/earnings">opening bell on Wednesday, Jan. 22, 2025.</a>
Analysts expect the New Brunswick, New Jersey-based company to report quarterly earnings at $2.02 per share, down from $2.29 per share in the year-ago period. Johnson &amp; Johnson projects to report revenue of $22.45 billion for the recent quarter, compared to $21.39 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Johnson &amp; Johnson has secured FDA approval for expanded use of its Spravato nasal spray, now cleared as a standalone treatment for adults with major depressive disorder who failed at least two oral antidepressants. Previously, it was only approved with oral antidepressants for treatment-resistant depression.
Johnson &amp; Johnson shares gained 0.8% to close at $148.15 on Tuesday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/jnj/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>B of A Securities analyst Tim Anderson maintained a Neutral rating and cut the price target from $166 to $160 on Jan. 17, 2025. This analyst has an accuracy rate of 64%.</li>
<li>Citigroup analyst Joanne Wuensch maintained a Buy rating and cut the price target from $185 to $175 on Dec. 11, 2024. This analyst has an accuracy rate of 76%.</li>
<li>Guggenheim analyst Vamil Diwan maintained a Neutral rating and raised the price target from $156 to $162 on Nov. 6, 2024. This analyst has an accuracy rate of 75%.</li>
<li>Wells Fargo analyst Larry Biegelsen maintained an Equal-Weight rating and raised the price target from $163 to $166 on Oct. 16, 2024. This analyst has an accuracy rate of 72%.</li>
<li>Morgan Stanley analyst Terence Flynn maintained an Equal-Weight rating and raised the price target from $169 to $175 on Oct. 16, 2024. This analyst has an accuracy rate of 65%.</li>
</ul>
Considering buying JNJ stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="572" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/22013350/image-136-1024x572.png" alt="" class="wp-image-743946" style="width:530px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/22013350/image-136-1024x572.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/22013350/image-136-300x167.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/22013350/image-136-768x429.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/22013350/image-136.png 1107w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read This Next: 
<ul>
<li><a href="https://www.benzinga.com/25/01/43096091/jim-cramer-this-tech-stock-is-a-buy-louisiana-pacific-has-been-a-great-stock">Jim Cramer: This Tech Stock Is A Buy, Louisiana-Pacific Has Been A &#8216;Great Stock&#8217;</a></li>
</ul>

Price Target

Analyst Ratings

Johnson & Johnson Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

"Since our initial investment in 2021, we have observed the acceleration of Form Technologies' commercial success through its differentiated solutions-based offering and engineering excellence," said Aaron Rosen, Partner and Co-Head of Opportunistic Credit at Ares Management. "We believe that under David's leadership, Form Technologies is well-positioned to address the growing needs of its diversified customer base across key regions and sectors. We look forward to the exciting opportunities ahead as we support the team's goals for driving revenue growth and value creation."

ARES

Reported Earlier, Ares Management Becomes Majority Shareholder In Form Technologies With $304M Investment To Drive Long-Term Growth

New agentic and generative AI capabilities in Oracle Fusion Cloud Sales help enhance customer engagements and accelerate sales processes

Reported Earlier, Oracle Introduces Generative AI And Intelligent Agents To Revolutionize Sales Team Productivity And Customer Connections

MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) shareholders on Tuesday approved a proposal to increase the company&#8217;s authorized Class A shares by 30 times to support future Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) acquisitions.
What happened: About 56% of votes were cast in favor of increasing the shares from the current 330 million to 10.33 billion, Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-01-21/microstrategy-share-increase-approved-to-fund-bitcoin-purchases">reported</a>, citing the meeting's recording.&nbsp;
Investors also approved the proposal to increase the number of authorized shares of preferred stock from 5 million to 1.005 billion, reflecting a 201x increase. <a href="https://www.benzinga.com/money/how-to-buy-preferred-stock#:~:text=Preferred%20stocks%20usually%20offer%20fixed%20dividends%20and%20rank%20higher%20than,health%20of%20the%20issuing%20company.">Preferred stocks</a> usually offer fixed dividends and rank higher than common stocks during asset liquidation.
Notably, the proposals were <a href="https://www.benzinga.com/24/12/42665877/microstrategy-to-hold-special-shareholder-vote-to-support-the-42-billion-bitcoin-acquisition-strategy">put forward</a> by the firm&#8217;s co-founder and executive chairman, Michael Saylor, who controls 47% of the voting power.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/01/43087038/trump-names-uyeda-acting-sec-chair-as-crypto-regulations-get-set-for-a-makeover">Trump Names Uyeda Acting SEC Chair, Regulators Get Ready For Crypto Makeover</a>
Why It Matters: These proposals were intended to support MicroStarategy's 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">21/21 plan</a>, a capital-raising operation that seeks to generate $21 billion in equity financing and $21 billion in fixed-income securities to fund Bitcoin purchases.
As of this writing, the firm has $5.42 billion remaining under its equity offerings plan.
MicroStrategy has front-run corporate Bitcoin adoption, with the company&#8217;s stockpile growing to 461,000 BTC, worth $48.67 billion, after a <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43104549/microstrategy-buys-11000-bitcoin-total-holdings-reach-461000-btc">fresh purchase</a> of 11,000 BTC on Tuesday. The firm was sitting on unrealized Bitcoin gains of nearly 66%, <a href="https://bitcointreasuries.net/">according </a>to BitcoinTresuries.net.
Price Action: At the time of writing, Bitcoin was exchanging hands at $105,605.91, up 4.04% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Shares of MicroStrategy closed 1.87% lower at $389.10 during Tuesday's regular trading session.
The stock has a <a href="https://www.benzinga.com/quote/MSTR/analyst-ratings">consensus price target</a> of $449.5 based on 12 analyst ratings, with an average price target of $546.67 from Bernstein, TD Cowen, and Barclays.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/25/01/43086309/trumps-doge-committee-faces-lawsuit-over-alleged-federal-advisory-violations-and-lack-of-transparency">Trump&#8217;s DOGE Committee Faces Lawsuits Over Alleged Federal Advisory Violations, Lack Of Transparency</a></li>
</ul>
Photo courtesy: Shutterstock

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

Cryptocurrency

$BTC

MSTR

Michael Saylor's Proposal To Increase MicroStratagy's Share Count Approved By Shareholders — More Bitcoin Purchases On The Cards?

Reported Earlier, EHang Launches Urban Air Mobility Center In Luohu District With First Automated eVTOL Vertiport

Sarclisa approved in the EU as the first anti-CD38 therapy in combination with standard-of-care VRd to treat transplant-ineligible newly diagnosed multiple myeloma
<ul>
<li>Approval is based on positive results from the IMROZ phase 3 study, demonstrating Sarclisa in combination with standard-of-care treatment significantly improved PFS, compared to the standard of care alone in TI NDMM</li>
<li>Represents third indication in the EU, including two for the treatment of adult patients with R/R MM, and one in NDMM</li>
</ul>

EU Approves Sarclisa In Combination With VRd As A Treatment For Transplant-Ineligible Adults With Newly Diagnosed Multiple Myeloma

LG Display Co Q4 Sales $5.61B Miss $5.87B Estimate, Net Loss $600.7M Down From Net Income $36.2M YoY

Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) announced a 16% price increase for its standard streaming plan on Tuesday, prompting economist Peter Schiff to warn of persistent inflation risks ahead of potential policy shifts under President Donald Trump&#8216;s administration.
What Happened: The streaming giant raised its ad-free standard plan from $15.49 to $17.99 monthly while increasing its premium tier to $24.99 and the ad-supported option to $7.99. 
The price hikes coincided with Netflix&#8217;s robust <a href="https://www.benzinga.com/25/01/43114866/netflix-q4-earnings-highlights-nfl-squid-game-power-best-subscriber-growth-in-company-history">fourth-quarter earnings report</a>, which showed revenue climbing 16% year-over-year to $10.25 billion and subscriber growth of 18.91 million, bringing total paid memberships to 301.63 million.
Schiff, a vocal critic of current monetary policy, cautioned on X that the Netflix price increase signals broader inflationary pressures. &#8220;The lull in the inflation storm is over. The consequences of inflationary monetary policy that finally showed up under Biden will kick into a higher gear under Trump,&#8221; he wrote.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Today, Netflix announced a 16% price increase. Those expecting lower inflation under Trump will be disappointed. The lull in the inflation storm is over. The consequences of inflationary monetary policy that finally showed up under Biden will kick into a higher gear under Trump.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1881915137327845422?ref_src=twsrc%5Etfw">January 22, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/equities/25/01/43118941/oracles-larry-ellison-says-cancer-vaccine-tailored-in-48-hours-could-soon-be-a-reality-as-trump-announces-500-billion-ai-investment">Oracle&#8217;s Larry Ellison Says Cancer Vaccine Tailored In 48 Hours Could Soon Be A Reality As Trump Announces $500 Billion AI Investment</a>
Why It Matters: The economist&#8217;s warning comes amid broader market discussions about potential economic policies under a Trump presidency. A survey in October found 68% of economists <a href="https://www.benzinga.com/news/24/10/41312782/trumps-economic-policies-expected-to-drive-inflation-and-deficits-higher-than-harris-economists-say">expecting higher inflation under</a> Trump compared to alternative policies, with particular attention to proposed tax cuts without corresponding spending reductions.
Netflix&#8217;s strong performance, including record operating income exceeding $10 billion for fiscal 2024, suggests continued growth potential. The company projects 2025 revenue between $43.5 billion and $44.5 billion, representing 12-14% growth while emphasizing its small current share of the estimated $650 billion market <a href="https://www.benzinga.com/25/01/43114866/netflix-q4-earnings-highlights-nfl-squid-game-power-best-subscriber-growth-in-company-history">opportunity across its key regions</a>.
Price Action: NFLX shares surged 14.39% to $994.89 in after-hours trading, setting new 52-week highs following the earnings announcement, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/25/01/43118598/warren-buffetts-pilot-co-exits-global-oil-trading-refocuses-on-us-operations-report">Warren Buffett&#8217;s Pilot Co Exits Global Oil Trading, Refocuses On US Operations: Report</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.

Economics

Netflix Raises Prices 16%, Peter Schiff Warns Of Escalating Inflation Risks Ahead Of Trump Policies

Former hedge fund manager Martin Shkreli called quantum computing stocks IonQ Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>) and Rigetti Computing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>) &#8220;one of the best shorts&#8221; of his career, despite both companies seeing substantial gains in recent trading sessions.
What Happened: Shkreli, posting on X on Tuesday, criticized the operational status of quantum computers from both companies, sharing an Amazon Web Services Braket dashboard showing multiple quantum processing units offline. 
The dashboard revealed that all three of IonQ&#8217;s quantum devices and both of Rigetti&#8217;s systems were either offline or experiencing errors.
This bearish stance comes as IONQ shares have surged 286% over the past year, while RGTI stock has skyrocketed more than 1,170%. 
On Tuesday alone, RGTI jumped 42.22% to close at $13.98, while IONQ gained 16.51% to end at $45.31, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">another day and <a href="https://twitter.com/search?q=%24IONQ&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$IONQ</a> and <a href="https://twitter.com/search?q=%24RGTI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$RGTI</a> shitty/tiny QCs are offline. but the stock are up? this is one of the best shorts i&#39;ve seen in my career. we are further away from quantum than even I thought: check out the Los Alamos roadmap from a while back for a laugh&#8230; <a href="https://t.co/Kgr63SjVf7">pic.twitter.com/Kgr63SjVf7</a>
&mdash; Martin Shkreli (@MartinShkreli) <a href="https://twitter.com/MartinShkreli/status/1881718784689574165?ref_src=twsrc%5Etfw">January 21, 2025</a></blockquote>
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</figure>
See Also: <a href="https://www.benzinga.com/markets/equities/25/01/43118941/oracles-larry-ellison-says-cancer-vaccine-tailored-in-48-hours-could-soon-be-a-reality-as-trump-announces-500-billion-ai-investment">Oracle&#8217;s Larry Ellison Says Cancer Vaccine Tailored In 48 Hours Could Soon Be A Reality As Trump Announces $500 Billion AI Investment</a>
Why It Matters: Shkreli&#8217;s comments align with recent skepticism from tech industry leaders about quantum computing&#8217;s near-term potential. Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO Mark Zuckerberg both suggested quantum computing <a href="https://www.benzinga.com/markets/equities/25/01/42936751/mark-zuckerberg-backs-nvidia-ceo-jensen-huangs-view-on-quantum-computing-its-still-quite-a-ways-off">applications may be 15 to 20 years away</a> from practical implementation.
Shkreli, known as &#8220;Pharma Bro&#8221; from his controversial tenure as CEO of Turing Pharmaceuticals where he raised an antiparasitic drug&#8217;s price by 5,455%, was convicted of securities fraud in 2017 and carries a <a href="https://www.benzinga.com/government/21/11/23904774/wall-street-crime-and-punishment-martin-shkreli-the-self-destructive-pharma-bro">lifetime ban from the pharmaceutical industry</a>.
The AWS Braket service, which provides access to quantum computing hardware from various manufacturers, showed only four out of ten total quantum devices were operational at the time of Shkreli&#8217;s post, with Amazon&#8217;s own classical quantum simulators among the few systems showing &#8220;online&#8221; status.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/25/01/43118598/warren-buffetts-pilot-co-exits-global-oil-trading-refocuses-on-us-operations-report">Warren Buffett&#8217;s Pilot Co Exits Global Oil Trading, Refocuses On US Operations: Report</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.

IONQ

NVDA

RGTI

Martin Shkreli Calls IonQ And Rigetti 'Best Shorts' Despite Recent Stock Gains, Cites Offline Quantum Systems

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) mining reportedly helped Texas avoid $18 billion in energy costs by eliminating the&nbsp;need for new gas peaker&nbsp;plants.
What Happened: The findings were made in a Monday <a href="https://www.da-ri.org/articles/how-bitcoin-mining-saved-texans-18-billion">report </a>by the Digital Assets Research Institute, which credited the efforts of Electric Reliability Council of Texas&nbsp;CEO&nbsp;Brad Jones in identifying Bitcoin mining as a better alternative to stabilize the Texas electrical grid instead of the costly and polluting gas peaker plants.
Natural gas-fired plants have been traditionally used to stabilize grids during peak demand. However, their popularity has dipped owing to significant carbon footprints, high setup and maintenance costs, and large idle time. 
Bitcoin mining, on the other hand, offered a more flexible solution, creating far less emissions than gas peaker plants, the report stated, citing data.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/01/43087038/trump-names-uyeda-acting-sec-chair-as-crypto-regulations-get-set-for-a-makeover">Trump Names Uyeda Acting SEC Chair, Regulators Get Ready For Crypto Makeover</a>
Most major Bitcoin mining companies, including Riot Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>), joined in the so-called &#8220;Demand Response&#8221; programs undertaken by the Texas grid, rendering the gas peaker plants unnecessary.
&#8220;The estimated cost of gas peaker plants, which would be passed on to Texan power users in the form of higher power bills, has now ballooned to&nbsp;$18 billion, &#8221; the report read.
Why It Matters: Miners help <a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34368164/bitcoin-miners-hit-pause-in-texas-as-energy-crisis-stalls-operations">stabilize the state&#8217;s power&nbsp;grid</a> by powering up their operations when there is an excess capacity of electricity while drastically lowering it when the state requires more usage during extreme weather conditions.
This flexibility allows grid operators to use less energy from less efficient power plants and incorporate renewable energy sources like solar and wind power, which can go underutilized during peak demand.
Price Action: The Valkyrie Bitcoin Miners ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WGMI#NASDAQ">WGMI</a>), which provides exposure to top Bitcoin mining companies, closed 1.58% lower at 24.97 on Tuesday, according to <a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
According to a recent report, U.S. miners controlled over 30% of the global network hash rate, marking a 9% increase in market share since&nbsp;<a href="https://www.benzinga.com/money/what-is-bitcoin-halving#:~:text=TL%3BDR%3A%20The%20Bitcoin%20halving,the%20price%20of%20Bitcoin%20soaring.">April's halving</a>.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/25/01/43086309/trumps-doge-committee-faces-lawsuit-over-alleged-federal-advisory-violations-and-lack-of-transparency">Trump&#8217;s DOGE Committee Faces Lawsuits Over Alleged Federal Advisory Violations, Lack Of Transparency</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>

MARA

RIOT

WGMI

Bitcoin Miners Helped Texas Avoid $18 Billion Energy Costs: Report

Leading U.S.-based firms were competing hard to mine more Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), with many increasingly retaining the newly-created coins for long-term benefits.
What happened: American Bitcoin mining companies added nearly 16 ExaHash per second of mining capacity, or an 8% increase, from November-end up to Jan. 15, according to a JPMorgan research report released Thursday.
The total hash rate, or the computational power needed to validate transactions and mine new Bitcoins, has more than doubled to 238 EH/s year-over-year. With this, U.S. miners control over 30% of the global network hash rate, marking a 9% increase in market share since <a href="https://www.benzinga.com/money/what-is-bitcoin-halving#:~:text=TL%3BDR%3A%20The%20Bitcoin%20halving,the%20price%20of%20Bitcoin%20soaring.">April's halving</a>.
The growth was led by the world's biggest Bitcoin miner, MARA Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>), which saw a 7.1 EH/s increase in hash rate. CleanSpark Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLSL#NASDAQ">CLSL</a>) ranked second on the list with an estimated 5.4 EH/s growth.
Interestingly, these two companies also mined the most Bitcoin in December, at 890 BTC and 668 BTC, respectively.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/government/regulations/25/01/42994641/italys-largest-bank-leaps-into-bitcoin-trading-with-1-million-test-investment-but-ceo-says-he-doesnt-invest-in-btc-personally">Italy&#8217;s Largest Bank Leaps Into Bitcoin Trading With $1 Million &#8216;Test&#8217; Investment But CEO Says He Doesn&#8217;t Invest In BTC Personally</a>
Many firms also reported a sharp increase in their Bitcoin holdings. MARA, which adopted a <a href="https://www.benzinga.com/pressreleases/24/07/g39955751/mara-purchases-100-million-of-bitcoin">full HODL approach</a> last year, saw its balance zoom by 28% to 44,893 BTC as of Jan. 15.
Riot Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>), the second-largest Bitcoin miner by market capitalization, increased its HODL balance by 55% to 17,722 BTC. Cleanspark's BTC stash grew from 9,297 at the end of November to 10,000 as of Jan. 15.
Why It Matters: A rise in the hash rate is usually a good sign because it indicates growing competition among miners to safeguard the network.
The rush to mine and hoard more Bitcoin could also be a defensive tactic against potential financial pressure from <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42867736/us-bitcoin-miners-hoard-apex-crypto-to-shield-against-rising-expenses-mara-riot-replicate-microstrategys-playbook">high expenses</a>.
The average cost to produce one Bitcoin in the fourth quarter of 2024 was $106,000, according to a <a href="https://coinshares.com/corp/resources/research/bitcoin-mining-report-q3-2024/">report </a>by leading investment firm CoinShares. The prevailing price of one Bitcoin, meanwhile, was $101,981.38.
Additionally, President-elect Donald Trump&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41081939/trump-wants-us-to-be-bitcoin-mining-capital-of-the-world-core-scientifics-move-to-buy-chip">apparent support </a>for the industry may be encouraging miners to run their machines at full capacity. During his election campaign, Trump said he wanted the U.S. to become the world&#8217;s Bitcoin mining capital.
Price Action: Shares of MARA Holdings closed 0.83% higher at $18.30 during Thursday&#8217;s regular trading session, according to&nbsp;<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>.&nbsp;The Valkyrie Bitcoin Miners ETF, which provides exposure to top Bitcoin mining companies, rose 0.04% to 24.58.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/25/01/42993521/michael-saylors-microstrategy-not-alone-in-bitcoin-acquisition-says-bitwise-chief-investment-officer-its-a-bona-fide-megatrend">Michael Saylor&#8217;s MicroStrategy Not Alone In Bitcoin Acquisition, Says Bitwise Chief Investment Officer: &#8216;It&#8217;s A Bona Fide Megatrend&#8217;</a></li>
</ul>

CLSL

US Bitcoin Miners Boost Mining Capacity, Capture 30% Of Global Hash Rate — MARA Holdings Sees Sharp Jump In BTC Balance

Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) co-founder Larry Ellison unveiled plans for an artificial intelligence-driven cancer vaccine system that could deliver personalized treatments within 48 hours, speaking at a White House briefing alongside tech leaders and President Donald Trump on Tuesday.
What Happened: The announcement came as part of a broader $500 billion AI infrastructure initiative called Stargate, a joint venture between Oracle, OpenAI, and SoftBank Group. The project will <a href="https://www.benzinga.com/25/01/43111153/nvidia-and-ai-stock-rises-as-trump-announces-500-billion-stargate-ai-infrastructure-venture">establish massive data centers</a> across the United States, starting with a facility in Abilene, Texas.
&#8220;We can diagnose cancer using AI through a simple blood test,&#8221; Ellison explained during the briefing. &#8220;Once we sequence the genes of that cancer tumor, we can design an mRNA vaccine for each individual robotically using AI in about 48 hours.&#8221;
The initiative sparked a rally in AI-related stocks, with Oracle shares climbing 7.17% to close at $172.57. Other tech companies also saw significant gains, with NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) rising 3.95%, Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) up 8.94%, and Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) advancing 4.20%.
See Also: <a href="https://www.benzinga.com/trading-ideas/25/01/43116755/trumps-plan-to-end-7500-ev-tax-credits-could-be-devastating-for-telsa-rivals-poll-says-could-be-bullish-for-elon-musks-company">Trump&#8217;s Plan To End $7,500 EV Tax Credits Could Be &#8216;Devastating&#8217; For Telsa Rivals, Poll Says Could Be Bullish For Elon Musk&#8217;s Company</a>
Why It Matters: The Stargate venture will initially invest $100 billion in U.S.-based AI infrastructure, with plans to expand to $500 billion over four years. The project includes the <a href="https://www.benzinga.com/25/01/43111153/nvidia-and-ai-stock-rises-as-trump-announces-500-billion-stargate-ai-infrastructure-venture">construction of ten 500,000-square-foot data centers</a>, with potential expansion to 20 facilities beyond the initial Texas location.
During the announcement, Ellison also highlighted AI applications in healthcare, particularly focusing on electronic health records. The system would enable doctors in remote locations to access treatment protocols from leading cancer centers like Memorial Sloan Kettering.
The project represents one of the largest private sector investments in AI infrastructure to date, positioning the United States to strengthen its leadership in artificial intelligence technology development.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/25/01/43118598/warren-buffetts-pilot-co-exits-global-oil-trading-refocuses-on-us-operations-report">Warren Buffett&#8217;s Pilot Co Exits Global Oil Trading, Refocuses On US Operations: Report</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.

DELL

Oracle's Larry Ellison Says Cancer Vaccine Tailored In 48 Hours Could Soon Be A Reality As Trump Announces $500 Billion AI Investment

President Donald Trump made the first public statement on his newly launched meme coin on Tuesday, stating that he knows little about it.
What Happened: Trump was taking questions from reporters during his first White House news conference.
A journalist, referring to the Official Trump&nbsp;(TRUMP) meme coin, asked Trump whether he would continue selling products that benefit him personally.&nbsp; 
&#8220;I don&#8217;t know if it benefited me; I don&#8217;t know where it is,&#8221; the president responded. &#8220;I don&#8217;t know much about it other than I launched it. I heard it was very successful. I haven&#8217;t checked where is it today.&#8221;
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="Watch President Trump&#039;s first White House news conference in full" width="500" height="281" src="https://www.youtube.com/embed/k-Up6GjRgsM?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>
</div>
</figure>
When the journalist suggested that he had made &#8220;several billion dollars&#8221; from the venture, Trump responded, &#8220;That is peanuts for these&nbsp;guys.&#8221;
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/01/43087038/trump-names-uyeda-acting-sec-chair-as-crypto-regulations-get-set-for-a-makeover">Trump Names Uyeda Acting SEC Chair, Regulators Get Ready For Crypto Makeover</a>
Why It Matters: Trump&#8217;s comments come as the meme coin, which was launched last weekend, <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43080060/donald-trump-and-melania-memecoins-combined-market-value-is-now-higher-than-that-of-warren-buffetts-hot-pick">quickly gained</a> tens of billions of dollars in market valuation, causing a stir in the cryptocurrency sector.
While the coin tanked on Day 1 of Trump&#8217;s presidency, possibly due to no mention of cryptocurrencies in the inaugural address, it regained momentum on Tuesday following the formation of a <a href="https://www.benzinga.com/top-stories/25/01/43110946/sec-launches-crypto-task-force-to-establish-clear-regulatory-framework">dedicated cryptocurrency task force</a> by the SEC.
CIC Digital LLC,&nbsp;an affiliate of the Trump Organization, and a related entity,&nbsp;Fight Fight Fight LLC,&nbsp;own an 80% share of the Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based asset, according to the coin&#8217;s official website. At a fully diluted valuation of $41.43 billion as of this writing, it would mean a controlling stake of $33.21 billion.
Taking a cue, First Lady Melania Trump also launched a memecoin, MELANIA, <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43078040/trump-coin-tanks-36-even-as-melania-trump-launches-her-own-token-top-analyst-says-his-short-is-going-very-very-well">which has amassed </a>over $4 billion in fully diluted valuation.
Price Action: At the time of writing, TRUMP was exchanging hands at $41.08, surging 22% 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>.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/25/01/43086309/trumps-doge-committee-faces-lawsuit-over-alleged-federal-advisory-violations-and-lack-of-transparency">Trump&#8217;s DOGE Committee Faces Lawsuits Over Alleged Federal Advisory Violations, Lack Of Transparency</a></li>
</ul>
Photo courtesy: Shutterstock

Politics

$SOL

Trump Memecoin Regains Momentum, Rallies 22% As The President Calls Billions Earned Through The Venture As 'Peanuts'

Pilot Co., fully owned by Warren Buffett&#8216;s Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), is shuttering its international oil trading business to concentrate on its core U.S. travel center operations.
What Happened: The Knoxville, Tennessee-based company has dismissed most of its international trading staff in recent months, including veteran distillate fuel traders Anthony Hicks and Nghiem Nguyen, Reuters <a href="https://www.reuters.com/business/energy/warren-buffetts-pilot-co-shuts-oil-trading-business-sources-say-2025-01-21/">reported</a>, citing sources.
A small team, including fuel trader Ajai Hari, remains to wind down existing contracts with customers like Ecuador&#8217;s PetroEcuador.
&#8220;Our core capabilities are focused on delivering reliable fuel supply to our travel centers and customers across North America,&#8221; Pilot Energy President Gary Hoogeveen said in a statement, though the company didn&#8217;t specifically comment on the trading unit closure.
See Also: <a href="https://www.benzinga.com/tech/25/01/43118289/trump-open-to-elon-musk-or-larry-ellison-buying-tiktok-calls-us-permit-key-to-1-trillion-valuation">Trump Open To Elon Musk Or Larry Ellison Buying TikTok: Calls US Permit Key To $1 Trillion Valuation</a>
Why It Matters: The strategic shift comes after Berkshire Hathaway acquired the <a href="https://www.benzinga.com/m-a/24/01/36654103/warren-buffetts-berkshire-hathaway-snaps-up-remaining-20-stake-in-pilot-travel-centers-from-haslam-f">remaining 20% stake in Pilot</a> from the Haslam family in January 2024, following a legal dispute over the company&#8217;s valuation. Pilot&#8217;s performance has declined significantly, with pre-tax profit falling from $2.3 billion in 2022 to $1.06 billion in 2023.
The company began scaling back its trading operations in 2023, laying off 15 employees including Vice President Steven Hollerbach, after Buffett increased his stake to 80%. The latest move represents a complete withdrawal from international trading, which Pilot had expanded into after Berkshire&#8217;s initial 39% investment in 2017.
Pilot, founded in 1958 by Jim Haslam, operates more than 650 travel centers and 75 fuel-only locations across North America. The company reported revenue of over $36 billion in the first nine months of 2024, with pre-tax earnings of approximately $486 million, both showing year-over-year declines.
Read Next: 
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<li><a href="https://www.benzinga.com/25/01/43111153/nvidia-and-ai-stock-rises-as-trump-announces-500-billion-stargate-ai-infrastructure-venture">Nvidia, AI Stocks Rise As Trump Announces $500 Billion Stargate AI Infrastructure Venture</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.

Warren Buffett's Pilot Co Exits Global Oil Trading, Refocuses On US Operations: Report

Leading cryptocurrencies surged Tuesday after the SEC under President Donald Trump launched a dedicated cryptocurrency task force.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:00 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+4.61%</td>
<td>$105,950.10</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+3.83%</td>
<td>$3,353.90</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+3.45%</td>
<td>$0.3707</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin sailed above $107,000 during U.S. afternoon hours, following Day 1 of Trump's presidency, which made no mention of cryptocurrencies.
Profit-taking pulled the apex digital asset to the $105,000 zone in overnight trading.
Ethereum also made strides, rising to an intraday high of $3,360.
The recovery coincided with the formation of a dedicated task force by SEC's Acting Chair, Mark Uyeda, intending to develop a clear regulatory framework for the cryptocurrency industry.
The uptick hit traders betting on price declines in futures markets, with about $133 million in short positions getting liquidated.
Bitcoin's Open Interest jumped 4.71% in the last 24 hours. An increase in Open Interest, coinciding with an increase in the spot price, indicated an influx of new money into the derivatives.
That said, the number of traders shorting Bitcoin rose in comparison to those betting on a price increase, according to the Long/Short Ratio.
The "Extreme Greed" sentiment in the market intensified, according to the Crypto Fear &amp; Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:00 p.m. ET)</td>
</tr>
<tr>
<td>ai16z (AI16Z)</td>
<td>+22.01%</td>
<td>$1.13</td>
</tr>
<tr>
<td>Official Trump (TRUMP)</td>
<td>+18.77%</td>
<td>$42.97</td>
</tr>
<tr>
<td>Sonic (prev. FTM (S)</td>
<td>+17.69%</td>
<td>$0.608</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.63 trillion, rising by 2.02% in the last 24 hours.
Stocks rallied a day after Trump was sworn in as U.S. president. The Dow Jones Industrial Average lifted 537.98 points, or 1.24%, to close at 44,025.81. The S&amp;P 500 rose 0.88%, ending at 6,049.24, while the tech-focused Nasdaq Composite gained 0.64% to close at 19,756.78.
The rally came as the<a href="https://www.benzinga.com/government/regulations/25/01/43084601/trump-day-1-executive-order-tsunami-incoming-energy-inflation-immigration-in-focus-but-what-about-tariffs"> president stopped short</a> of imposing new import tariffs on his first day in office, providing temporary relief for the market.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Widely followed cryptocurrency analyst Ali Martinez noted that Bitcoin's network activity was robust, with growth in daily active addresses and whale transactions.
"This trend signals a positive outlook for potential price appreciation," the analyst remarked.
<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/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> network activity remains strong, with daily active addresses and whale transactions increasing simultaneously. This trend signals a positive outlook for potential price appreciation. <a href="https://t.co/EMf8uyv3SB">pic.twitter.com/EMf8uyv3SB</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1881806474050941315?ref_src=twsrc%5Etfw">January 21, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Martinez highlighted whale interest in his other post, showing that over $2.24 billion worth of Bitcoin was snapped by large investors over the last 3 days.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Whales have bought over 22,000 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> in the last 72 hours, worth more than $2.24 billion! <a href="https://t.co/bl87JcROKU">pic.twitter.com/bl87JcROKU</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1881853030582395093?ref_src=twsrc%5Etfw">January 21, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Popular cryptocurrency trader Michaël van de Poppe issued bold predictions for Bitcoin and altcoins in the ongoing cycle.
"I&#8217;d rather look at valuations similar to the Dot.com bubble. $15-25 trillion of cryptocurrency market valuations. Bitcoin to $300,000+," the trader projected.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I think that this cycle we&#39;ll see <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> and <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> tend to have a 2017-type of cycle. In that sense, $150K isn&#39;t a target for me. I&#39;d rather look at valuations similar to the <a href="https://t.co/GoodB359DI">https://t.co/GoodB359DI</a> bubble. $15-25T of crypto market valuations. Bitcoin to $300K+.
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1881792381017874591?ref_src=twsrc%5Etfw">January 21, 2025</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/25/01/43090399/top-crypto-analyst-disappointed-by-ethereums-weak-performance-but-doesnt-rule-out-a-rally-to-7000-heres-why">Ethereum&#8217;s &#8216;Weak&#8217; Momentum Disappoints Top Analyst, But He Doesn&#8217;t Rule Out A Rally To $7,000: Here&#8217;s Why</a></li>
</ul>
Photo courtesy: Shutterstock

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