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Renowned economist Peter Schiff has taken a swipe at former President Donald Trump and MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) co-founder Michael Saylor&#8217;s &#8216;never sell your Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)&#8217; stance, questioning the logic behind the strategy.
What Happened: On Sunday, in a post on X, Schiff expressed skepticism towards the idea of retaining Bitcoin. He questioned the point of owning Bitcoin if no one ever sells it, comparing it to living in poverty while dying and holding a large amount of the cryptocurrency.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Both <a href="https://twitter.com/saylor?ref_src=twsrc%5Etfw">@saylor</a> and <a href="https://twitter.com/hashtag/Trump?src=hash&amp;ref_src=twsrc%5Etfw">#Trump</a> say &quot;never sell your <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>.&quot; If that&#39;s true and no one who buys Bitcoin ever sells any, what&#39;s the point of owning it? What&#39;s the appeal of living in poverty, dying with a big stack of Bitcoin, with successive generations of heirs repeating the process?
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1817608449917694101?ref_src=twsrc%5Etfw">July 28, 2024</a></blockquote>
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In another post, he pointed out what he perceives as flawed logic in the argument that Bitcoin&#8217;s value will skyrocket due to the U.S. inflating away its national debt. Schiff argued that the U.S. government could buy Bitcoin now and sell it in 20 years to repay the National Debt without creating inflation.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Noticed the flawed logic. <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> will go to millions per token because the U.S. will have to inflate away it&#39;s exploding <a href="https://twitter.com/hashtag/NationalDebt?src=hash&amp;ref_src=twsrc%5Etfw">#NationalDebt</a>. But the U.S. government will buy Bitcoin now, then sell it in 20 years to legitimately repay the National Debt, without creating <a href="https://twitter.com/hashtag/inflation?src=hash&amp;ref_src=twsrc%5Etfw">#inflation</a>.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1817684801522147583?ref_src=twsrc%5Etfw">July 28, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39999062/benzinga-bulls-and-bears-tesla-amc-meta-and-crypto-analyst-predicts-dogecoin-will-follow-h?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">One Crypto Is Poised To Outperform Bitcoin, Says Crypto Expert</a>
Why It Matters: Schiff&#8217;s comments come in response to Trump&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001426/trump-aims-to-make-us-crypto-capital-of-the-planet-well-get-it-done">recent advocacy for a strategic national cryptocurrency stockpile.</a> During his keynote speech at the Bitcoin 2024 Conference, Trump assured that if he were to return to the presidency, the U.S. government would retain its Bitcoin holdings. 
The presidential nominee also stated that Bitcoin would <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40002734/trump-says-bitcoin-will-skyrocket-like-never-before-if-he-returns-to-the-white-house-promi">skyrocket like &#8220;never before&#8221; if he came back to power</a> and promised to fire current SEC Chair&nbsp;Gary Gensler&nbsp;on Day 1 of his tenure.
Michael Saylor was also one of the speakers at the conference and he stunned the cryptocurrency community by forecasting that the King Crypto would hit a staggering $13 million by 2045 in a base case scenario, and nearly $49 million in a bull case.
Price Action: At the time of writing, Bitcoin was trading at $68,693.74, up 0.89% 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>. Trump-themed Maga Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) was up 0.26%. Shares of MicroStrategy closed 9% higher at $1,752.71 during Friday's trading session.
Photo courtesy: Gage Skidmore on Flickr
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001633/scaramucci-i-agree-with-every-single-thing-trump-has-said-on-bitcoin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Scaramucci: &#8216;I Agree With Every Single Thing&#8217; Trump Has Said On Bitcoin</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

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

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Peter Schiff Confronts Donald Trump And Michael Saylor's 'Never Sell Your Bitcoin' Strategy: 'What's The Point Of Owning It?'

Outlook 
Philips reiterates its confidence in delivering the 2025 plan, acknowledging that uncertainties remain. For the full year 2024, Philips continues to expect 3-5% comparable sales growth, an Adjusted EBITA margin of 11-11.5%, and free cash flow of EUR 0.9-1.1 billion. 
The outlook excludes the potential impact of the ongoing Philips Respironics-related legal proceedings, including the investigation by the US Department of Justice

Earnings

Guidance

Koninklijke Philips Reiterates 2024 Outlook: Continues To Expect 3-5% Comparable Sales Growth And Adjusted EBITA Margin Of 11-11.5%; Sees Free Cash Flow Of EUR 0.9B-1.1B

Koninklijke Philips Q2 Comparable Order Intake Grew 9% And 3% In H1 2024

Koninklijke Philips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHG#NYSE">PHG</a>) reported quarterly earnings of €0.30 per share which beat the analyst consensus estimate of €0.25 by 20 percent. This is a 11.11 percent increase over earnings of €0.27 per share from the same period last year. The company reported quarterly sales of €4.462 billion which beat the analyst consensus estimate of €4.430 billion by 0.72 percent. This is a 8.38 percent decrease over sales of €4.870 billion the same period last year.

Earnings Beats

Koninklijke Philips Q2 2024 Adj EPS €0.30 Beats €0.25 Estimate, Sales €4.462B Beat €4.430B Estimate

Jim Cramer, the host of CNBC&#8217;s &#8220;Mad Money,&#8221; has highlighted the <a href="https://www.benzinga.com/news/earnings/24/07/39993819/tech-stocks-slide-on-earnings-us-economy-flexes-muscles-small-cap-rally-continues-this-week-in-the-">upcoming earnings reports</a> from major tech companies as a critical turning point for the &#8220;great rotation&#8221; in the stock market.
What Happened: Cramer, in his recent <a href="https://www.cnbc.com/2024/07/28/jim-cramer-great-rotation-faces-big-test-with-big-tech-earnings.html">article</a>, pointed out that the upcoming earnings reports from tech giants like Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), and Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) will be a crucial test for the &#8220;great rotation&#8221; theory.
The &#8220;great rotation&#8221; refers to the movement of investors away from large-cap technology stocks and into small-cap stocks. This shift has been a significant trend in the stock market over the past few months.
Cramer emphasized that the market has been filled with speculative theories about the performance of these tech giants, but the upcoming earnings reports will provide the real facts.
He also noted that the recent earnings reports from Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) and Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) were met with disappointment, despite exceeding expectations. This, he suggests, is a sign that the market may not react as expected to the upcoming tech earnings.
&#8220;If the so-called "great rotation" out of megacap technology stocks into small caps that began earlier in July hadn't been at its zenith, I think both stocks would have rallied,&#8221; Cramer wrote. 
See Also: <a href="https://www.benzinga.com/markets/equities/24/07/39970069/investors-go-all-in-on-small-caps-pour-over-6-billion-into-russell-2000-etf-this-month-they-will?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Investors Go All In On Small Caps, Pour Over $6 Billion Into Russell 2000 ETF This Month: They &#8216;Will Return To Larger-Cap Alternatives,&#8217; Veteran Analyst Says</a>
Why It Matters: The tech earnings season began with disappointments, as shares of the &#8220;Magnificent Seven&#8221; companies declined during the last trading week. Alphabet Inc. reported <a href="https://www.benzinga.com/news/earnings/24/07/39993819/tech-stocks-slide-on-earnings-us-economy-flexes-muscles-small-cap-rally-continues-this-week-in-the-">stronger-than-expected</a> earnings and revenue but missed analysts' targets on YouTube advertising revenue. 
This led to the worst week of the year for the Google parent company&#8217;s stock. Similarly, Tesla Inc. <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39950739/tesla-apples-lackluster-reports-cause-hair-trigger-for-investors-to-rethink-tech-he">missed quarterly earnings</a> forecasts due to thinner profit margins impacted by lower vehicle prices and restructuring charges, causing shares to fall 12.3%.
As the second-quarter earnings season approaches, Amazon.com Inc., Uber Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>), and Alphabet Inc. are <a href="https://www.benzinga.com/news/large-cap/24/07/40001668/ford-stellantis-and-dell-are-among-top-12-large-cap-losers-last-week-july-21-july-27-are-the-other">emerging as standout picks</a>. JPMorgan analyst Doug Anmuth highlights these companies as top picks, despite the mixed performance of the internet sector so far this year.
Cathie Wood, the CEO of ARK Invest, has predicted a potential <a href="https://www.benzinga.com/markets/equities/24/07/39830547/why-cathie-wood-is-betting-on-small-cap-stocks-triumphing-over-magnificent-six-amid-restrictive-">shift in the equity market</a>, favoring small-cap stocks over large-cap tech companies. This forecast is based on the current "restrictive" monetary policy of the Federal Reserve, as outlined in a recent investor letter. 
Read Next: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39984123/jim-cramer-is-mystified-by-five-below-predicts-crowdstrike-is-going-to-bottom-here?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jim Cramer Is &#8216;Mystified&#8217; By Five Below, Predicts CrowdStrike &#8216;Is Going To Bottom Here&#8217;</a>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

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Jim Cramer Says Tech Earnings Crucial Test For 'Great Rotation' Theory As Key Reports From Microsoft, Apple, Amazon, And Meta Loom On the Horizon

In an interesting turn of events, lesser-known Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)-labeled coins outperformed the apex cryptocurrency in 24-hour gains.
What Happened: Bitcoin Cash spiked over 7% in the last 24 hours, becoming the market's second-best-performing cryptocurrency.&nbsp;
The $8-billion market cap coin soared to a one-month high, witnessing a 40% jump in trading volumes.&nbsp;
Meanwhile, Bitcoin SV lifted nearly 4% during the day, recovering the losses made during the past week.
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<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 11:00 p.m. EDT)</td>
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<td>Bitcoin Cash (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bch/usd">BCH</a>)</td>
<td>+7.72%</td>
<td>$426.48</td>
</tr>
<tr>
<td>Bitcoin SV (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BSV</a>)</td>
<td>+3.97%</td>
<td>$47.67</td>
</tr>
</tbody>
</table>
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Interestingly, King Crypto remained <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40002999/bitcoin-ethereum-dogecoin-move-sideways-as-trump-raises-pro-crypto-pitch-why-does-this-ana">little changed</a> over the day, rising just 0.87% over the last 24 hours even as Trump announced that he would sack SEC Chair Gary Gensler, viewed by some as hostile to the cause of cryptocurrencies, on Day 1 of entering office. "I will appoint a new SEC chairman who believes America should build the future and not block the future."
Bitcoin Cash is a result of a hard fork of the original Bitcoin blockchain in 2017 due to differences in the community over proposed upgrades. A year later, Bitcoin Cash underwent its own fork, leading to the creation of Bitcoin SV.
See Also:<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39359780/dogecoin-shiba-inu-floki-are-dino-coins-says-trader-he-likes-these-3-other-meme-coins-as-b?itm_source=parsely-api"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40002734/trump-says-bitcoin-will-skyrocket-like-never-before-if-he-returns-to-the-white-house-promi">Trump Says Bitcoin Will &#8216;Skyrocket Like Never Before&#8217; If He Returns To The White House, Promises To Fire SEC Chair Gary Gensler On Day 1</a>
Why It Matters: The surge in value of these Bitcoin spinoffs highlights investors&#8217; growing interest, particularly among retail traders, in more affordable alternatives.
Bitcoin is one of the most expensive assets to purchase, with one unit priced at nearly $70,000 as of this writing. The high price makes owning one full Bitcoin a bit difficult though investors can always get exposure by making fractional purchases.
However, hard forks of the cryptocurrency, such as Bitcoin Cash, are priced much less in comparison, making them attractive buys, as they are viewed as cheaper plays by some investors.
The interest in Bitcoin is high after former President Donald Trump announced big plans for the digital asset, including <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001426/trump-aims-to-make-us-crypto-capital-of-the-planet-well-get-it-done">a push for a national Bitcoin stockpile for the U.S</a>.

Price Action: At the time of writing, Bitcoin was trading at $68,693.74, up 0.89% 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>. Trump-themed Maga Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) was up 0.26%.
Photo by Igor Faun on Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40002999/bitcoin-ethereum-dogecoin-move-sideways-as-trump-raises-pro-crypto-pitch-why-does-this-ana">Bitcoin, Ethereum, Dogecoin Move Sideways As Trump Raises Pro-Crypto Pitch &#8211; Why Does This Analyst Think Longing King Crypto Could Soon Be A Good Option?</a></li>
</ul>

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Trading Ideas

$BCH

$BSV

Bitcoin Cash And Bitcoin SV Outpace King Crypto With 24-Hour Gains: What's Happening With These Spin-Offs?

The Marvel Entertainment and Walt Disney (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) collaboration, &#8220;Deadpool &amp; Wolverine,&#8221; has set new records at the box office, grossing over $438.3 million worldwide in its opening weekend.
What Happened: The film&#8217;s international earnings were $233.3 million, while domestic earnings hit $205 million, making it the largest R-rated opening ever, both domestically and globally, <a href="https://deadline.com/2024/07/deadpool-wolverine-global-international-box-office-1236023236/">reported</a> Deadline on Sunday.
The success of &#8220;Deadpool &amp; Wolverine&#8221; has propelled the Marvel Cinematic Universe&#8217;s (MCU) total worldwide earnings beyond the $30 billion mark. The film, featuring Ryan Reynolds and Hugh Jackman, topped the charts in all markets where it was released.
See Also: <a href="https://www.benzinga.com/news/24/07/40000541/apples-market-share-drops-in-china-a18-chip-integration-to-bring-ai-features-to-iphone-16-and-more-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple&#8217;s Market Share Drops In China, A18 Chip Integration To Bring AI Features To iPhone 16 And More: This Week In Appleverse</a>
In several markets, including Germany, the U.K., Australia, the Netherlands, Hong Kong, and Taiwan, &#8220;Deadpool &amp; Wolverine&#8221; had the biggest opening weekend of 2024. 
The film grossed $94.5 million across Europe, marking the best start ever for a U.S. R-rated movie in the region, the report noted.
In the Asia-Pacific region (excluding China), the film earned $60.1 million. In China, the film&#8217;s opening was estimated at $24 million. Latin America saw earnings of $54.7 million, making it the second-highest opening weekend in 2024 across the region.
The film also performed well in Imax Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IMAX#NYSE">IMAX</a>), with a global haul of $36.5 million, marking the eighth biggest for the format ever and the best for July as well as for an R-rated title. 
Imax CEO Rich Gelfond commented on the film&#8217;s success, stating, &#8220;Deadpool &amp; Wolverine delivered one of the biggest Imax opening weekends of all time.&#8221;
Why It Matters: The film&#8217;s record-breaking performance <a href="https://www.benzinga.com/news/24/07/39991247/disney-amc-and-imax-stocks-surge-after-deadpool-wolverine-breaks-box-office-records">had a positive impact on the stocks</a> of Walt Disney, AMC Entertainment Holdings, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>), and Imax, as they all experienced a surge following the box office reports. 
The film&#8217;s success was anticipated, <a href="https://www.benzinga.com/general/entertainment/24/02/37147153/deadpool-3-trailer-breaks-records-thanks-to-super-bowl-could-the-movie-become-highest-gross">as its trailer</a>, released during Super Bowl LVIII, had already broken records, hinting at the film&#8217;s potential to become the highest-grossing R-rated movie.
Price Actions: On Friday, DIS shares rose by 0.81% to $89.93. AMC increased by 0.78% to $5.18, and IMAX climbed by 3.56% to $20.09. While DIS shares dropped slightly and Imax saw no change, AMC shares increased further during the after-hours session reaching $5.19, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/07/39926002/after-donald-trumps-recent-taiwan-statement-sent-shockwaves-japans-pm-kishida-reveals-new-bill-to-bo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">After Donald Trump&#8217;s Recent Taiwan Statement Sent Shockwaves, Japan&#8217;s PM Kishida Reveals New Bill To Boost AI And Chipmaking With Domestic Investment</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Entertainment

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Media

IMAX

Ryan Reynolds, Hugh Jackman Starrer 'Deadpool & Wolverine' Breaks Box Office Records, Rakes In Over $438M For Disney's Marvel At Global Opening

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is reportedly aiming to produce 2.77 million vehicles by 2025, a 50% <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39563174/tesla-rises-ahead-of-crucial-q2-deliveries-rivian-affirms-goal-after-volkswagen-dea">increase from its 2023 production</a>. This ambitious target includes the launch of new affordable models, according to Future Fund Managing Partner Gary Black.
What Happened: Black, a prominent Tesla analyst, shared this insight on social media platform X on Sunday. He also noted that the company&#8217;s current installed capacity stands at 2.35 million units, which includes the new affordable Tesla vehicles set for delivery in the first half of 2025.
Tesla&#8217;s management has indicated a &#8220;current expected maximum capacity of close to 3 million vehicles,&#8221; including the new affordable models, which will be produced on the same manufacturing lines as the current vehicle lineup.
Black also suggested that the market is underestimating Tesla&#8217;s Total Addressable Market (TAM) expansion into the $30,000 segment. The Street is currently expecting 2025 deliveries of just 2.07 million and 2025 production of 2.073 million.
&#8220;As we saw with the introduction of Model Y in 2020, there is little cannibalization of other models when Tesla enters a new category &#8211; here the $30K affordable luxury segment,&#8221; Black wrote.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">As pointed out by <a href="https://twitter.com/thejefflutz?ref_src=twsrc%5Etfw">@thejefflutz</a>, <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> may be targeting production of around 2,770K units (+50% above 2023 production of 1,846K), vs 2,350K current installed capacity today, including new affordable TSLA vehicles, scheduled for first deliveries in 2025/1H. Mgmt indicated in the 2Q… <a href="https://t.co/uhviu6tOVN">pic.twitter.com/uhviu6tOVN</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1817685915340615734?ref_src=twsrc%5Etfw">July 28, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39997974/anthony-scaramucci-tim-scott-weigh-in-ahead-of-ex-presidents-address-at-bitcoin-2024-confe?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci, Tim Scott Weigh In Ahead Of Ex-President&#8217;s Address At Bitcoin 2024 Conference: &#8216;Trump&#8217;s Move To Court Bitcoin And Towards Crypto Assets Has Shaken The Democrats At Core&#8217;</a>
Why It Matters: Tesla&#8217;s ambitious production targets come amid a series of significant developments for the company. Last week, Tesla&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39953019/teslas-q2-earnings-lacked-in-analytical-rigor-and-strategic-direction-says-top-anal">second-quarter earnings</a> were scrutinized by Black, who criticized the lack of analytical rigor and strategic direction. Black called for a clearer strategy on margin stabilization, marketing, and the rollout of Full Self-Driving features. 
Earlier in July, Tesla <a href="https://www.benzinga.com/markets/equities/24/07/39595720/tesla-deliveries-fall-for-second-straight-quarter-but-stock-takes-off-as-q2-numbers-exceed-expec">reported second-quarter deliveries</a> that exceeded expectations despite a decline from the previous year. This positive reaction from the market highlighted the company&#8217;s resilience. However, some experts had predicted lower deliveries than analysts&#8217; expectations, citing <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39583595/exclusive-tesla-delivery-prediction-expert-expects-lower-deliveries-than-analysts-s">concerns about the recovery</a> in China.
Additionally, Tesla&#8217;s <a href="https://www.benzinga.com/news/earnings/24/07/39918390/tesla-q2-earnings-highlights-revenue-beat-eps-miss-robotaxi-update-2024-growth-rate-to-be-notably-l">second-quarter earnings report</a> revealed a revenue beat but an EPS miss, with the company noting that its 2024 growth rate would be notably lower than in 2023. 
Price Action: Tesla stock closed at $219.80, down 0.20% today. In after-hours trading, the stock rose 0.43%. Year to date, Tesla&#8217;s stock has decreased by $28.62, or 11.52%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
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Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Tesla's Production Aspirations Underscored By Gary Black: 2.77M Vehicles By 2025 — Major Entry Into $30K Segment 'Significantly Underestimated By The Street'

Billionaire business magnate Mark Cuban has declared his willingness to gamble on whether former President Donald Trump will exhibit a &#8220;belly laugh&#8221; before the forthcoming election.
What Happened: Cuban, a vocal critic of Trump, took to social media to suggest a bet on Trump&#8217;s laughter on the cryptocurrency-based prediction market, Polymarket. The discussion was initiated by Minnesota Governor Tim Walz&nbsp;(D), who offered to buy Trump a diet dew if he laughed in public once.
<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/NTmoney?ref_src=twsrc%5Etfw">@NTmoney</a> can we get a money line on <a href="https://twitter.com/Polymarket?ref_src=twsrc%5Etfw">@Polymarket</a> if Trump belly laughs prior to the election ? I'll take the under 1 belly laugh. <a href="https://twitter.com/PreetBharara?ref_src=twsrc%5Etfw">@PreetBharara</a> You in ? <a href="https://twitter.com/Scaramucci?ref_src=twsrc%5Etfw">@Scaramucci</a> ? <a href="https://twitter.com/JDVance?ref_src=twsrc%5Etfw">@JDVance</a> ? <a href="https://twitter.com/KamalaHarris?ref_src=twsrc%5Etfw">@KamalaHarris</a> <a href="https://t.co/J0AyePc4R8">https://t.co/J0AyePc4R8</a>
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1817643399996166365?ref_src=twsrc%5Etfw">July 28, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Shorty after, Cuban tagged Nick Tomaino, a known cryptocurrency venture capitalist, along with Trump-era White House official Anthony Scaramucci, former U.S. Attorney&nbsp;Preet Bharara, and even Vice President Kamala Harris, and Trump&#8217;s running mate, Sen.&nbsp;J.D. Vance&nbsp;(R-Ohio), if they are down to bet on Trump&#8217;s &#8220;belly laugh&#8221; before the election. 
&#8220;I'll take the under 1 belly laugh,&#8221; the billionaire announced. Reacting to the conversation, Polymarket replied, &#8220;You got it boss.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001045/german-lawmaker-joana-cotar-calls-50k-bitcoin-sale-by-her-nation-a-monumental-missed-oppor">German Lawmaker Joana Cotar Calls 50K Bitcoin Sale By Her Nation A &#8216;Monumental Missed Opportunity,&#8217; Says Holding King Crypto As &#8216;Strategic Reserve&#8217; Could Reduce US Dollar Dependence</a>
Why It Matters: The cheeky dig by Cuban was <a href="https://www.benzinga.com/markets/cannabis/24/07/40001997/kamala-harriss-hearty-laugh-why-does-it-bother-donald-trump-and-his-followers-so-much">aimed at Trump who recently made fun of Harris&#8217; hearty laughter </a>at a public rally. 
&#8220;I call her Laughing Kamala. You ever watch her laugh?… She&#8217;s crazy. She&#8217;s nuts,&#8221; the former president said.&nbsp;
While Cuban&#8217;s proposed bet could sound frivolous, Polymarket, which is built atop Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) Layer-2 chain Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/matic/usd">MATIC</a>), has rapidly emerged as one of the world's top prediction markets for U.S. elections over the last few months. Users can buy or sell outcome shares, which can be redeemed for $1 if the outcome is correct, and become worthless if it&#8217;s incorrect.
As of this writing, <a href="https://polymarket.com/event/presidential-election-winner-2024?tid=1722221856781">odds </a>in favor of a Trump&#8217;s win in elections later this year is 60% on the platform, compared to 38% for Harris.
Image via Shutterstock
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40002734/trump-says-bitcoin-will-skyrocket-like-never-before-if-he-returns-to-the-white-house-promi">Trump Says Bitcoin Will &#8216;Skyrocket Like Never Before&#8217; If He Returns To The White House, Promises To Fire SEC Chair Gary Gensler On Day 1</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

$ETH

$MATIC

Mark Cuban Ready To Bet On Ethereum-Based Polymarket About Trump's Chances Of Doing A Great Big 'Belly Laugh', Asks JD Vance If He's 'In'

In a recent development, Transportation Secretary Pete Buttigieg has voiced concerns about the age and mental sharpness of Republican presidential nominee Donald Trump, placing him in contrast to Democratic nominee Kamala Harris. This follows the withdrawal of Joe Biden from the presidential race.
What Happened: Buttigieg, during his appearance on &#8220;Fox News Sunday,&#8221; suggested that Trump, currently the oldest presidential nominee in U.S. history, would have preferred to compete against Biden. He indicated that voters are apprehensive about Trump&#8217;s age and mental acuity, particularly when compared to Harris, who is almost 20 years younger, <a href="https://www.politico.com/news/2024/07/28/buttigieg-voters-trump-age-00171533">reported</a> Politico.
&#8220;I'm pretty sure voters are worried about the age and acuity of President Trump compared to Kamala Harris,&#8221; said Buttigieg.
Buttigieg also took a jab at the &#8220;personality cult&#8221; surrounding Trump, criticizing his long-winded speeches and the GOP&#8217;s depiction of him as a strong leader. He commended Biden&#8217;s choice to step down from the race, calling it an &#8220;extraordinary, historic, selfless choice.&#8221;
Trump&#8217;s campaign defended the former president, with Communications Director Steven Cheung stating that Trump has &#8220;more energy and stamina than anyone in politics.&#8221; Cheung also took a swipe at Buttigieg&#8217;s performance in the 2020 Democratic primary.
See Also: <a href="https://www.benzinga.com/news/24/07/39996908/trump-vs-harris-new-poll-shows-ex-president-leading-democratic-candidate-by-a-narrow-margin-but-vice?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Harris: New Poll Shows Ex-President Leading Democratic Candidate By A Narrow Margin, But Vice President&#8217;s Favorability Is Faring Better Than Biden</a>
The Democratic Party has rallied around Harris, who has managed to close Biden&#8217;s polling gap with Trump. She is currently outperforming Biden among independents, people of color, women, and voters under 35.
Buttigieg, rumored to be a potential vice presidential contender for Harris, has been actively campaigning and praising the Harris campaign, while criticizing Trump and his running mate, JD Vance.
Why It Matters Following Biden&#8217;s decision to withdraw from the 2024 presidential race, Harris has secured <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39919247/who-will-kamala-harris-pick-for-vice-president-crypto-bettors-have-4-favorites-for-democra">enough delegates</a> to win the party&#8217;s nomination, setting up a direct battle against Trump in the 2024 election.
Recent polls show a close race, with Trump leading Harris by a narrow margin. However, Harris&#8217;s <a href="https://www.benzinga.com/news/24/07/39996908/trump-vs-harris-new-poll-shows-ex-president-leading-democratic-candidate-by-a-narrow-margin-but-vicehttps://www.benzinga.com/general/politics/24/07/39920146/harris-vs-trump-vice-president-trails-former-president-by-2-points-gains-independent-voters-59-o">favorability among registered voters</a> has seen a significant rise, jumping 11 points to 46%.
As Harris prepares to select a vice-presidential candidate, Buttigieg is seen as a potential pick, tying for <a href="https://www.benzinga.com/news/24/07/40002910/mark-kelly-favored-by-voters-as-vp-pick-for-kamala-harris-shows-poll-shapiro-beshear-buttigieg-tied">second place</a> in favorability ratings among potential Democratic VP candidates, according to a new poll.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cannabis/24/07/39998398/kamala-harris-admits-i-inhaled-marijuana-and-now-pushes-for-legalization-what-this-means-for-202?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kamala Harris Admits &#8216;I Inhaled&#8217; Marijuana And Now Pushes For Legalization: What This Means For 2024 Elections</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>

General

Potential Kamala Harris VP Pick Pete Buttigieg Says 'Voters Are Worried About Age And Acuity Of President Trump'

As 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>) -owned YouTube&#8217;s contentious policy change on gun-related content sparks concerns, actor James Woods has publicly praised&nbsp;Elon Musk&nbsp;for his <a href="https://www.benzinga.com/news/24/05/39113352/elon-musks-44b-twitter-purchase-saved-american-free-speech-says-patrick-bet-david-you-have-to-give-c">commitment to free speech</a>.
What Happened: Woods, renowned for his powerful performances in film and theatre, took to X, formerly Twitter, on Sunday, and said, &#8220;This makes me appreciate Elon Musk even more&#8230;&nbsp;He is a champion of&nbsp;free speech.&#8221;
He went on to add, &#8220;The other&nbsp;platforms are sadly squeezing the&nbsp;life out of social communication&nbsp;more and more every day.&#8221; Woods&#8217; positive words for Musk came despite being blocked by him on the social media platform.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/07/39984404/apple-joins-meta-and-google-pledges-support-for-bidens-ai-regulations?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple Joins Meta And Google, Pledges Support For Biden&#8217;s AI Regulations</a>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This makes me appreciate <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> even more. And I say this even though he blocks me. He is a champion of free speech, while the other platforms are sadly squeezing the life out of social communication more and more every day. Sadly he'll never see this, but bravo, sir. <a href="https://t.co/IHJKGIdKKA">https://t.co/IHJKGIdKKA</a>
&mdash; James Woods (@RealJamesWoods) <a href="https://twitter.com/RealJamesWoods/status/1817675395388637528?ref_src=twsrc%5Etfw">July 28, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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YouTube&#8217;s latest policy changes concerning the sale and promotion of firearms, took effect on June 18, 2024. The policy has raised concerns among YouTubers who focus on firearms content, including the popular YouTube channel hickok45, run by Greg and his son John.
In a video titled &#8220;Bad News,&#8221; which was posted earlier this month, the pair disclosed that their channel was in danger of being shut down due to the policy changes. 
&#8220;Essentially the new policy&#8230;&nbsp;is that all sponsorships from&nbsp;companies that are either firearms&nbsp;companies or companies that deal&nbsp;in firearms accessories are a&nbsp;complete violation of YouTube&#8217;s policies,&#8221; John explained.
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.
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<iframe loading="lazy" title="Bad News" width="500" height="281" src="https://www.youtube.com/embed/-KWxaOmVNBE?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>
YouTube&#8217;s new &#8220;Firearms policy&#8221; bans content&nbsp;intended to sell firearms, instruct&nbsp;viewers on how to make&nbsp;firearms, ammunition, and certain accessories,&nbsp;or&nbsp;instruct viewers on how to&nbsp;install those accessories.
Why It Matters: Last year in August, <a href="https://www.benzinga.com/news/23/08/33955905/elon-musk-tells-james-wood-to-delete-your-account-after-actor-calls-x-com-owner-a-greedy-capitalist">Musk removed the &#8220;block&#8221; feature</a> from X, sparking a heated exchange with Woods, who voiced concerns about the impact on users willing to share their real identities.
The tech billionaire later blocked the &#8220;Vampires&#8221; actor amid his crusade against &#8220;people who complain that blocking is going away.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I'm having a good time blocking people who complain that blocking is going away &#x1f602;
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1693218807160934400?ref_src=twsrc%5Etfw">August 20, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Meanwhile, Musk&#8217;s statements about free speech have been a recurring theme. Last month, after his social media platform emerged victorious in a legal battle with the Australian government, <a href="https://www.benzinga.com/news/24/06/39184541/elon-musk-says-freedom-of-speech-is-worth-fighting-for-after-australia-drops-legal-battle-against-x">the tech mogul said</a>, &#8220;Freedom of speech is worth fighting for.&#8221;
This month, Musk revealed that the European Commission had offered X an <a href="https://www.benzinga.com/news/24/07/39759841/elon-musk-reveals-european-commission-offered-x-illegal-secret-deal-to-censor-free-speech-as-thierry">&#8220;illegal secret deal&#8221;</a> to censor free speech. His statement came after Thierry Breton accused blue checkmarks saying they deceive users.
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Photo Courtesy: Bart Sherkow On Shutterstock.com
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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

Elon Musk Blocked 'Vampires' Fame James Wood For Slamming His Blocking Ban, Now The Actor Can't Stop Singing Praises Of The X Owner: 'He Is A Champion Of Free Speech'

Gold has emerged as the top choice for investors looking to hedge their portfolios in the event of a potential second term for Donald Trump.
What Happened: The precious metal has been identified as the best hedge against a possible Trump presidency, according to a Bloomberg Markets Live Pulse survey. The <a href="https://www.bloomberg.com/news/articles/2024-07-29/gold-is-the-besttrump-trade-survey-shows">survey</a>, conducted from Jul. 22 to Jul. 26, included 480 respondents.
Over 60% of the participants believe that the U.S. dollar would weaken if Trump secures another term. This view is supported by the historical performance of the dollar, which slid over 10% while the price of gold surged over 50% during Trump&#8217;s previous tenure.
Trump&#8217;s proposed policies, such as tax cuts, tariffs, and reduced regulations, are seen as inflationary by Wall Street and could potentially prompt the Federal Reserve to raise interest rates. A Republican victory in the November elections, granting Trump more leeway to implement his economic policies, could further drive up gold prices.
JPMorgan Chase &amp; Co. analyst Gregory Shearer noted that geopolitical tensions, the growing U.S. deficit, and inflation hedging have driven gold prices higher. These factors could be magnified under a Trump presidency or a Republican-controlled Congress.
Survey respondents echoed this sentiment, with one stating, "All I can see are severe disruptions to markets and trade, and rapid increases" in the U.S. national debt.
"When the US is creating its own risk premium due to a potentially disorderly election, the fiscal implications of a Trump presidency, that makes the dollar in 2025 a risk," said Kathleen Brooks, research director at XTB.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39999062/benzinga-bulls-and-bears-tesla-amc-meta-and-crypto-analyst-predicts-dogecoin-will-follow-h?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla, AMC, Meta And Crypto Analyst Predicts Dogecoin Will Follow Historical Pattern: Benzinga Bulls And Bears</a>
Why It Matters: The 2024 presidential race has been thrown into uncertainty following President Joe Biden's decision to step down, endorsing Vice President Kamala Harris. This has led to speculation about the future of the "Trump trade," a term referring to market strategies that would benefit from a <a href="https://www.benzinga.com/news/24/07/39883677/investors-anticipate-unraveling-of-trump-trade-as-biden-exits-presidential-race-but-analyst-says-its">potential Trump return</a> to the White House.
Former President Trump has criticized the current <a href="https://www.benzinga.com/markets/equities/23/12/36279965/trump-says-record-high-stock-market-just-making-rich-people-richer-blasts-bidens-inflation-catas">economic state under Biden</a>, blaming the administration for inflation issues and claiming that the stock market is only enriching the wealthy.
With the upcoming election, defense stocks are also <a href="https://www.benzinga.com/24/07/39987732/harris-or-trump-defense-stocks-are-winning-tech-battle-personal-income-drops-trump-crypto-push">seeing significant attention</a>, as investors weigh the potential impacts of a Harris or Trump presidency on various sectors.
Price Action: Gold Spot prices rose by 0.23% to $2,392.61, reflecting an increase of $5.54. Meanwhile, the U.S. Dollar Index saw a slight decline on Friday&#8217;s market close, dropping 0.11% to $104.20, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39979140/dogecoin-killer-shiba-inu-sees-76-surge-in-q2-orders-on-crypto-payments-platform-coingate?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Dogecoin Killer&#8217; Shiba Inu Sees 76% Surge In Q2 Orders On Crypto Payments Platform CoinGate</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Gaming

Commodities

Top 'Trump Trade' Isn't The Dollar But Gold As Survey Participants Foresee 'Severe Disruptions To Markets And Trade'

Leading cryptocurrencies held on to their gains Sunday as presidential nominee Donald Trump made big promises to safeguard the industry's interests.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded 9 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+0.66%</td>
<td>$68,417.06</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+0.94%</td>
<td>$3,274.63.</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>-0.18%</td>
<td>$0.1307</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin nearly touched $69,000 on the day, recouping some of the losses incurred yesterday overnight. However, it pulled back to the $68,000 zone later in the day. Ethereum also retraced to $3,270 following a brief stay over $3,300.
Donald Trump <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001426/trump-aims-to-make-us-crypto-capital-of-the-planet-well-get-it-done">amped up his pro-cryptocurrency rhetoric</a> at the recent Bitcoin 2024 conference, championing a national Bitcoin stockpile for the U.S.&nbsp;
Both Bitcoin and Ethereum recorded an appreciable rise in futures Open Interest. Typically, when the price moves sideways while OI increases, it signals a potential upside breakout.
Bullish bets for Bitcoin also rose sharply in comparison to downside bets in the last 24 hours.
The Cryptocurrency Fear &amp; Greed Index increased from 71 to 74 in the last 24 hours, signaling an optimistic mood in the market.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin Cash (BCH)</td>
<td>+6.22%</td>
<td>$420.03</td>
</tr>
<tr>
<td>Brett (Based) (BRETT)</td>
<td>+4.12%</td>
<td>$0.1307</td>
</tr>
<tr>
<td>Maker (MKR)</td>
<td>+2.19%</td>
<td>$2, 681.17</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market stood at $2.44 trillion, gaining 0.73% in the last 24 hours.
Stock market futures edged slightly higher Sunday overnight The Dow Jones Industrial Average Futures rose 0.44% as of 9 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 are up 0.45%, while Nasdaq 100 Futures gained 0.61%.
Investors brace for a week of big tech earnings, with giants like&nbsp; Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) ready to report their second-quarter performance.
Additionally, the Federal Reserve will hold the FOMC meeting later this week. According to the CME FedWatch tool, investors are not expecting any interest rate cuts.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Prominent on-chain researcher Ali Martinez observed a "heavy accumulation" of Bitcoin by large holders, a pattern which could support a rally in the days ahead.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> Accumulation Trend Score is at 1, showing that larger entities are heavily accumulating <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>. <a href="https://t.co/KN2mQlPUdY">pic.twitter.com/KN2mQlPUdY</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1817537230291743066?ref_src=twsrc%5Etfw">July 28, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
In another post, he predicted King Crypto will move toward $69,200 if it managed to break the $68,080 resistance. 
<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">If <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> can break the $68,080 resistance, it could surge toward $69,200! <a href="https://t.co/7Q9Y9d4PkY">pic.twitter.com/7Q9Y9d4PkY</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1817620946393637020?ref_src=twsrc%5Etfw">July 28, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Another widely followed cryptocurrency analyst, The Crypto Dog, stated that longing Bitcoin could be a good option, predicting that altcoins won't have much to offer.
"Leave position alone for next weeks, maybe months. Don&#8217;t TP, use trailing SL. Don&#8217;t size so big you will close on a dip," the trader remarked.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Recommend longing <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>, soon, if you don&#39;t have serious exposure. You don&#39;t want to be all in alts with limpdick gains/going sideways during a historic pump. Leave position alone for next weeks, maybe months. Don&#39;t TP, use trailing SL. Don&#39;t size so big you will close on a dip.
&mdash; The Crypto Dog &#x1f4c8; (@TheCryptoDog) <a href="https://twitter.com/TheCryptoDog/status/1817694148738338846?ref_src=twsrc%5Etfw">July 28, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by Avi Rozen on Shutterstock
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$DOGE

Bitcoin, Ethereum, Dogecoin Move Sideways As Trump Raises Pro-Crypto Pitch - Why Does This Analyst Think Longing King Crypto Could Soon Be A Good Option?

In a recent poll, Sen. Mark Kelly (D-Ariz.) has emerged as the top choice among potential Democratic VP candidates for Vice President Kamala Harris.
What Happened: An ABC News/Ipsos poll conducted on July 26-27, 2024, as reported by <a href="https://thehill.com/homenews/campaign/4797349-mark-kelly-seen-most-favorably-of-potential-vp-picks-followed-by-shapiro-beshear-buttigieg-poll/">The Hill</a>, revealed that Kelly holds a 10-point net favorability rating among Americans. However, a significant number of voters either don&#8217;t know or don&#8217;t hold the opinion of most of the potential VP contenders.
Following Kelly, three Democrats tied for second place with positive 4-point net favorability ratings: Pennsylvania Gov. Josh Shapiro, Kentucky Gov. Andy Beshear, and Transportation Sec. Pete Buttigieg.
Buttigieg and California Gov. Gavin Newsom were the only Democrats known to a majority of respondents. However, Newsom had a negative 12-point rating, with more respondents viewing him unfavorably.
See Also: <a href="https://www.benzinga.com/news/24/07/39996908/trump-vs-harris-new-poll-shows-ex-president-leading-democratic-candidate-by-a-narrow-margin-but-vice?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Harris: New Poll Shows Ex-President Leading Democratic Candidate By A Narrow Margin, But Vice President&#8217;s Favorability Is Faring Better Than Biden</a>
In the same poll, Harris&#8217;s favorability increased by 8 points from the previous week. She also outperformed former President Donald Trump&#8217;s and President Joe Biden&#8217;s negative favorability ratings.
The poll comes as Harris solidifies her position as the party&#8217;s presumptive nominee, with no serious challenger and increasing endorsements from Democrats.
Why It Matters: Harris&#8217;s potential VP pick has been a <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39919247/who-will-kamala-harris-pick-for-vice-president-crypto-bettors-have-4-favorites-for-democra">topic of speculation</a> since she secured enough delegates to win the Democratic Party&#8217;s nomination, as reported by Benzinga. The VP pick could play a crucial role in drumming up additional support from Democratic and Independent voters.
Shapiro&#8217;s <a href="https://www.benzinga.com/news/24/07/39997572/josh-shapiro-emerges-as-potential-vp-candidate-at-kamala-harris-endorsement-event-he-would-look-good">name emerged</a> as a potential VP candidate at a Harris endorsement event earlier as well, according to a prior report. The event saw several influential figures endorsing Shapiro as a potential vice presidential candidate.
Meanwhile, Harris has been <a href="https://www.benzinga.com/news/24/07/40001853/trump-vs-harris-harris-leading-trump-in-maine-has-edge-with-gen-z-nationally">leading Trump</a> in Democratic-leaning Maine by 8 points, according to a poll conducted by the University of New Hampshire, as reported by Benzinga.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Mark Kelly Favored By Voters As VP Pick For Kamala Harris, Shows Poll — Shapiro, Beshear, Buttigieg Tied As Second Favorites

The rapid increase in the number of new energy vehicles in China has led to a financial conundrum for the country&#8217;s insurers. The insurers are <a href="https://www.benzinga.com/news/large-cap/24/01/36787463/how-evs-high-tech-vehicles-are-fueling-surge-in-insurance-stocks">finding it challenging to make a profit</a> from insuring these vehicles, despite charging higher premiums.
What Happened: The surge in NEV ownership in China has led to a surge in insurance premiums, but insurers are still struggling to turn a profit. The insurers&#8217; loss ratio for NEVs is higher than for traditional vehicles, making it difficult for them to make money from insuring NEVs, <a href="https://www.caixinglobal.com/2024-07-26/electric-cars-are-draining-the-batteries-of-chinas-insurers-102220215.html">reported</a> Caixin.
China&#8217;s NEV market has been growing rapidly, with the number of insured NEVs increasing from around 7 million in 2021 to over 20 million in 2023. Despite this, insurers are generally losing money when they insure NEVs, with the combined ratio for household NEVs typically standing between 105% and 110%, and that for ride-hailing NEVs roughly between 120% and 130%.
Xiaomi Corp.&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/XIACF#OTC">XIACF</a>)&nbsp; first new energy vehicle, the SU7, is priced at 215,900 yuan ($29,735). Despite its competitive retail price, the cost of insuring the SU7 is nearly as high as that of a combustion-engine vehicle that is more than twice its price.
This is fairly typical, as NEV owners are approximately twice as likely to file a claim, according to data from LexisNexis Risk Solutions.
Liu Shulin, president of the CIRI Auto Technology Institute, attributes this to several factors. NEVs accelerate faster, with a Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Model 3 reaching 100 km/h in 4.4 seconds, nearly twice as fast as a comparable BMW (OTC: BMWYY. NEVs&#8217; expensive batteries are costly to repair, often requiring manufacturer service. 
Additionally, widespread NEV use in the ride-hailing industry results in higher mileage, increasing risk. Some NEV owners face insurance renewal issues after exceeding 20,000 kilometers in a year.
Insurers typically avoid unprofitable deals, but government support for the NEV industry complicates this. The National Financial Regulatory Administration&#8217;s (NFRA) April guidelines require insurers to cover NEVs to support China&#8217;s carbon goals for 2030 and 2060.
One solution is raising premiums, but current rules prevent this. Insurance premiums in China are influenced by an autonomous pricing coefficient, capped by regulators, which limits profitability for NEV coverage, according to the report.
The NFRA has proposed reforms to allow greater flexibility in setting these coefficients, potentially lowering premiums for low-risk NEVs and raising them for high-risk ones, like those used in ride-hailing.
A car insurance industry insiders told Caixin that premiums for XPeng (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) and BYD (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) models might increase due to high loss ratios and ride-hailing use. However, some industry insiders warn the new limits may still not cover all high-risk vehicles, suggesting the cap be removed to prevent insurers from losing money and to ensure NEV owners can renew their plans.
See Also: <a href="https://www.benzinga.com/news/24/07/39953071/tesla-ford-gm-and-other-automakers-trade-lower-in-premarket-after-elon-musk-and-jim-farleys-team-fai?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla, Ford, GM And Other Automakers Trade Lower In Premarket After Elon Musk And Jim Farley&#8217;s Team Fail To Soothe Investors</a>
Why It Matters: The surge in NEV adoption has been a global trend, with China being a significant driver of this shift. In 2023, NIO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) <a href="https://www.benzinga.com/markets/penny-stocks/23/10/35240644/nio-inc-entered-the-ev-insurance-business-late-last-year-according-to-new-filing">entered the insurance business</a> alongside other Chinese EV manufacturers, further highlighting the industry&#8217;s potential for growth.
This trend has also had a significant impact on the global insurance market. In January, <a href="https://www.benzinga.com/news/large-cap/24/01/36787463/how-evs-high-tech-vehicles-are-fueling-surge-in-insurance-stocks">insurance company stocks outperformed</a> the S&amp;P 500 index, driven by the surge in EV and high-tech vehicle sales. This trend was particularly evident in China, where <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39473004/tesla-chinas-weekly-insurance-registrations-hit-highest-since-start-of-2024-bull-ga">Tesla&#8217;s weekly insurance registrations</a> hit a record high in June.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/07/39947663/peter-schiff-says-americans-are-broke-points-to-fords-dismal-q2-profit-they-cant-afford-to-buy-n?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Peter Schiff Says &#8216;Americans Are Broke&#8217; — Points To Ford&#8217;s Dismal Q2 Profit: &#8216;They Can&#8217;t Afford To Buy New Cars&#8217; Due To Interest Rates</a>
Image Via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Insurance

BYDDF

BYDDY

XIACF

XPEV

Electric Vehicles Are Bleeding Insurers Money In This Key Market For Tesla And Other Auto Giants: Here's Why

The U.S. Justice Department has <a href="https://www.benzinga.com/news/24/06/39150865/tiktok-parent-bytedance-appoints-former-warner-bros-lawyer-as-general-counsel-amid-ongoing-legal-bat">leveled accusations against</a> TikTok, alleging that the social media platform has been collecting data on its users&#8217; views on sensitive topics&nbsp;such as gun control, abortion, and religion.
What Happened: On Friday, making its most forceful case to date, the Justice Department made these allegations in response to a <a href="https://www.benzinga.com/news/24/05/39103767/tiktok-denies-report-about-splitting-code-to-create-a-us-only-algorithm-qualified-divestiture-needed">federal&nbsp;lawsuit filed by TikTok</a> in May.
The department also claims that TikTok has been censoring content under&nbsp;the direction of its China-based&nbsp;parent company,&nbsp;ByteDance, <a href="https://www.wsj.com/tech/tiktok-collected-u-s-users-views-on-gun-control-abortion-and-religion-u-s-says-4fcf19f6?mod=tech_trendingnow_article_pos2">reported</a> the Wall Street Journal.
&#8220;The collection of data from Americans is not a protected activity,&#8221; a senior Justice Department official explained in the filings, many of which remain classified, the report noted.
See Also: <a href="https://www.benzinga.com/news/24/07/40000541/apples-market-share-drops-in-china-a18-chip-integration-to-bring-ai-features-to-iphone-16-and-more-t?itm_source=parsely-api">Apple&#8217;s Market Share Drops In China, A18 Chip Integration To Bring AI Features To iPhone 16 And More: This Week In Appleverse</a>
The filings also revealed a software tool that allows&nbsp;U.S. employees of TikTok and&nbsp;ByteDance to&nbsp;collect user information based on&nbsp;content, including views on sensitive topics.
&#8220;Intelligence reporting further demonstrates that ByteDance and TikTok Global have taken action in response to PRC demands to censor content outside of China,&#8221; Casey Blackburn, a senior U.S. intelligence official, wrote in a filing supporting the government's stance.
A spokesperson for TikTok defended the company, stating that&nbsp;a TikTok ban would violate&nbsp;the First Amendment rights of its 170 million users and expressed confidence in prevailing in court.
TikTok has previously said that its U.S. algorithm is stored with its American partner, Oracle. However, the Justice Department argues that TikTok&#8217;s plan to store U.S. user data on domestic servers is inadequate.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: The latest revelations come at a time when the platform has gained <a href="https://www.benzinga.com/news/24/06/39128716/trump-gains-3m-followers-on-tiktok-amid-ufc-themed-debut-heres-how-bidens-super-bowl-themed-arrival">significant popularity among</a> high-profile U.S. figures. Last month, former President Donald Trump joined TikTok, the platform&nbsp;<a href="https://www.benzinga.com/news/24/05/39103767/tiktok-denies-report-about-splitting-code-to-create-a-us-only-algorithm-qualified-divestiture-needed" target="_blank" rel="noreferrer noopener">he once sought to ban</a>.
This month, Vice President Kamala Harris also <a href="https://www.benzinga.com/news/24/07/39975556/kamala-harris-hops-on-the-tiktok-bandwagon-recently-ive-been-on-the-for-you-page-so-i-thought">launched her own TikTok account</a>, following President Joe Biden&#8217;s sudden exit from the 2024 presidential race and her announcement to run for the presidency.
The U.S. government has said that the TikTok algorithm <a href="https://www.benzinga.com/news/24/03/37688964/tiktok-ban-could-take-out-billions-of-dollars-out-of-creators-pockets-and-put-over-300k-american-job">poses a national security risk</a>, warning of possible exploitation by the Chinese government for large-scale influence operations in the U.S.
European Commission President Ursula von der Leyen earlier <a href="https://www.benzinga.com/news/24/04/38508391/after-biden-signs-tiktok-ban-into-law-top-eu-leader-says-not-ruling-out-action-against-chinese-platf">suggested the possibility</a> of a TikTok ban within the EU.
Photo by XanderSt on Shutterstock
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

TikTok Tracks Views Of US Users On Gun Control, Abortion And Religion, Says Justice Department: 'Collection Of Data From Americans Is Not A Protected Activity'

Text messages from Republican vice presidential candidate JD Vance have been brought to light, showcasing his past criticisms of police, former President Donald Trump, and more. These messages were disclosed by a former classmate of Vance&#8217;s.
What Happened: According to a <a href="https://www.nytimes.com/2024/07/27/us/jd-vance-emails-transgender-classmate-highlights.html">report</a> by<a href="https://www.nytimes.com/2024/07/27/us/jd-vance-emails-transgender-classmate-highlights.html"> </a>The New York Times, about a series of texts that were shared by Sofia Nelson, a Detroit-based transgender public defender and a former close associate of Vance. These messages were exchanged between the years 2014 and 2017, during which Vance was recognized for his outspoken opposition to Trump, who is now his running mate.
One of the disclosed texts has Vance stating, &#8220;I hate the police. Given the number of negative experiences I've had in the past few years, I can't imagine what a black guy goes through.&#8221; In an email from 2015, he described Trump as a &#8220;demagogue&#8221; and a &#8220;morally reprehensible human being.&#8221;
A representative for Vance downplayed the messages, stating, "Senator Vance values his friendships with individuals across the political spectrum. He has been open about the fact that some of his views from a decade ago began to change after becoming a dad and starting a family, and he has thoroughly explained why he changed his mind on President Trump. Despite their disagreements, Senator Vance cares for Sofia and wishes Sofia the very best."
Also Read: <a href="https://www.benzinga.com/news/24/07/39999519/trump-vs-harris-latest-survey-indicates-positive-signs-for-this-candidate">Trump Vs. Harris: Latest Survey Indicates Positive Signs For This Candidate</a>
The unearthing of these texts has sparked a debate among conservative commentators, with some, such as Ben Shapiro, questioning Trump&#8217;s selection of Vance as his vice presidential candidate.
Why It Matters: The revelation of these messages could potentially impact Vance&#8217;s standing within the Republican party and among conservative voters. 
<a href="https://www.benzinga.com/news/24/07/39979544/can-trump-replace-jd-vance-amid-kamala-harris-picking-pace-experts-warn-that-could-be-extraordinaril">His past views on Trump, who is now his running mate, might raise questions</a> about his current political alignment and the sincerity of his support for the Trump administration.
Furthermore, his expressed disdain for the police could potentially alienate a portion of the Republican base that strongly supports law enforcement. 
As the election approaches, how Vance addresses these revelations and navigates the ensuing controversy could <a href="https://www.benzinga.com/general/politics/24/07/39916075/j-d-vance-venture-capital-background-under-scrutiny-it-never-seemed-like-he-was-even-working-it-">significantly influence his political future.</a>
Photos/Shutterstock.com
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Secret Texts Reveal Republican VP Candidate JD Vance's Past Views On Trump, Police, And GOP: Called Ex-President 'Morally Reprehensible Human Being'

In a show of massive political support for the cryptocurrency demographic, former President Donald Trump said that Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) would skyrocket like "never before" if he came back to power and promised to fire current SEC Chair Gary Gensler on Day 1 of his tenure.
What Happened: The Republican presidential nominees delivered one of the most hotly anticipated keynote addresses at the Bitcoin 2024 conference in Nashville.
About 30 minutes into the address, Trump declared, &#8220;Bitcoin and crypto will skyrocket like never before, even beyond your expectations, and you are the people doing it,&#8221; to wild applause from the audience. "When America is prospering, Bitcoin is soaring and it&#8217;ll go up with it."
The presidential hopeful highlighted how King Crypto exploded by 900%, from $898 to $35,000 during his four years in office, much higher than how it has during the Joe Biden administration.
Trump also announced that he would sack SEC Chair Gensler, seen as hostile to the cause of cryptocurrencies, on Day 1 of assuming office. "I will appoint a new SEC chairman who believes America should build the future and not block the future."
See Also:<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39359780/dogecoin-shiba-inu-floki-are-dino-coins-says-trader-he-likes-these-3-other-meme-coins-as-b?itm_source=parsely-api"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39976626/jersey-city-pension-fund-to-follow-wisconsins-lead-with-bitcoin-etf-investment-ive-been-a-">Jersey City Pension Fund To Follow Wisconsin&#8217;s Lead With Bitcoin ETF Investment: &#8216;I&#8217;ve Been A Long Time Believer In Crypto,&#8217; Says Mayor Fulop</a>
Why It Matters: Trump's promises have already been making waves, at least in the cryptocurrency circles.&nbsp;
The former president <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001426/trump-aims-to-make-us-crypto-capital-of-the-planet-well-get-it-done">advocated for a strategic national cryptocurrency</a> stockpile at the event and laid out his plans to make the U.S. the cryptocurrency capital of the planet.
Price Action: At the time of writing, Bitcoin was trading at $68,693.74, up 0.89% 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>. Trump-themed Maga Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) was up 0.26%.
Image via Shutterstock
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</ul>

Trump Says Bitcoin Will 'Skyrocket Like Never Before' If He Returns To The White House, Promises To Fire SEC Chair Gary Gensler On Day 1

Vice President and presumptive Democratic Nominee For 2024 Presidential Elections, Kamala Harris, has voiced her support for the Venezuelan people in the wake of their landmark presidential election, amidst rising concerns about potential electoral fraud.
What Happened: Harris took to X on Sunday to say that the United States &#8220;stands with&#8221; the people of Venezuela. She said that the &#8220;will of the Venezuelan people must be respected.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The United States stands with the people of Venezuela who expressed their voice in today's historic presidential election. The will of the Venezuelan people must be respected. Despite the many challenges, we will continue to work toward a more democratic, prosperous, and secure…
&mdash; Vice President Kamala Harris (@VP) <a href="https://twitter.com/VP/status/1817687288056303648?ref_src=twsrc%5Etfw">July 28, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
As reported by Reuters, the Venezuelan election, the most consequential in 25 years of socialist party governance, saw President Nicolas Maduro, whose 2018 re-election is widely deemed fraudulent, express confidence in his victory. Despite being barred from holding public office, Opposition leader Maria Corina Machado has been a key figure in the coalition campaign.
Edmundo Gonzalez, a 74-year-old former diplomat, is the opposition&#8217;s candidate. Despite gaining support from former ruling party supporters, the fairness of the election has been called into question by the opposition and observers, citing decisions by electoral authorities and arrests of opposition staff as potential hindrances.
See Also: <a href="https://www.benzinga.com/general/politics/24/07/39992709/kamala-harris-will-certify-2024-election-results-shes-not-going-to-burn-the-system-down-in-order?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kamala Harris Will Certify 2024 Election Results: &#8216;She&#8217;s Not Going To Burn The System Down In Order To Save It&#8217;</a>
According to Attorney General Tarek Saab, the voting was largely peaceful, barring a few isolated incidents. The results were anticipated on Sunday night.
Maduro&#8217;s administration has presided over an economic collapse, mass migration, and a significant decline in diplomatic relations, with sanctions imposed by the United States, the European Union, and others. If re-elected, Maduro has pledged peace and economic growth, aiming to lessen Venezuela&#8217;s reliance on oil income.
Opposition leaders Gonzalez and Machado have promised major changes and believe a fresh start may motivate Venezuelan migrants to return. They also expect the military to uphold the election results.
Why It Matters: The US has been closely monitoring the Venezuelan election, given the history of alleged electoral fraud and the impact of the country&#8217;s economic collapse. According to a Benzinga report from April 2024, the Biden administration was <a href="https://www.benzinga.com/news/24/04/38290486/team-biden-considers-reinstating-oil-sanctions-on-venezuela-over-election-concerns-report">contemplating reinstating oil sanctions</a> on Venezuela due to concerns over the fairness of the election. 
The report highlighted that President Maduro had allegedly not fulfilled his commitments regarding free and fair elections, leading to the potential reintroduction of punitive measures on Venezuela's oil and gas sector.
Image via Shutterstock
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Kamala Harris: 'The Will Of The Venezuelan People Must Be Respected' As Socialist Nicolás Maduro Faces Toughest Test At The Ballot In Decades

In the wake of heavy rainfall, North Korean leader Kim Jong Un has inspected flood-stricken areas near the border with China, according to state media KCNA. The deluge has impacted approximately 5,000 residents in the region.
What Happened: A Reuters report revealed that Kim Jong Un visited the flood-impacted regions of Sinuiju and surrounding areas on Sunday. These regions, situated near the Chinese border, were hit by record rainfall on Saturday, leaving around 5,000 people isolated.
The North Korean military was quick to respond, deploying approximately 10 aircraft to carry out around 20 rescue missions each. Within half a day, they were able to rescue 4,200 people, KCNA reported.
Kim praised the military&#8217;s rescue efforts, stating that they saved 5,000 lives. However, he criticized officials for their lack of preparedness in crisis response measures to mitigate damage from heavy rain, floods, and typhoons.
See Also: <a href="https://www.benzinga.com/news/24/07/39999465/trump-raises-eyebrows-with-controversial-remark-at-florida-event-in-four-years-you-dont-have-to-vote?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Raises Eyebrows With Controversial Remark At Florida Event: &#8216;In Four Years, You Don&#8217;t Have To Vote</a>
The region has been severely affected by heavy rainfall from Tropical Storm Gaemi, which triggered a landslide in southern China, causing 12 fatalities and flash floods in other areas.
Why It Matters: This incident comes as North Korea&#8217;s economy, already battered by COVID-19, <a href="https://www.benzinga.com/government/22/06/27875776/kim-jong-uns-covid-battered-economy-is-now-bracing-up-for-potential-floods">braced for potential floods</a> due to early monsoons, as reported by Benzinga in June 2022. The country&#8217;s food crisis, already at a critical stage, is likely to worsen due to these floods. In January 2024, Kim emphasized the urgent need to address the country&#8217;s food shortages, calling it a &#8220;serious political issue.&#8221;
Despite these challenges, North Korea&#8217;s economy experienced significant growth in 2023, after three consecutive years of contraction. This growth was attributed to <a href="https://www.benzinga.com/news/24/07/39981434/kim-jong-un-steers-north-korea-to-growth-in-2023-after-3-years-of-decline-trade-with-china-russia-ba">increased trade with China</a>, relaxed COVID-19 border controls, and favorable weather conditions.
However, the country&#8217;s relationship with the United States remains tense, with North Korea asserting its <a href="https://www.benzinga.com/news/24/07/39925959/kim-jong-un-rejects-donald-trumps-friendship-claims-north-korea-says-we-do-not-care-expresses-nuclea">nuclear readiness</a> amid rising tension.
Photo by Alexander Khitrov on Shutterstock
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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