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Mixed martial arts legend Khabib Nurmagomedov has thrown his support behind a &#8216;satirical&#8217; meme coin that is raising funds to help the victims of Conor McGregor, a fellow Ultimate Fighting Championship (UFC) fighter found guilty of sexual assault.
What Happened: In an X post on Thursday, Nurmagomedov praised the so-called CONVICT project for taking up the initiative.
&#8220;Good job guys , you have my full support, this guy deserves punishment,&#8221; the UFC Hall of Famer said.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Good job guys , you have my full support, this guy deserve punishment <a href="https://t.co/tOFNJrBUYV">https://t.co/tOFNJrBUYV</a>
&mdash; khabib nurmagomedov (@TeamKhabib) <a href="https://twitter.com/TeamKhabib/status/1861871405341581729?ref_src=twsrc%5Etfw">November 27, 2024</a></blockquote>
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CONVICT describes itself as a &#8220;satirical meme coin&#8221; influenced by McGregor&#8217;s recent conviction in the sexual assault civil case. It has called for donations to its cryptocurrency address to cover the legal fees of McGregor&#8217;s victims.
The coin, which trades on Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based decentralized exchange (DEX)&nbsp;Raydium, saw its market valuation jump to $336,370, per <a href="https://coinmarketcap.com/dexscan/solana/9wRdTaGGDct1HH4oTfGAxyU8nEo4H4rzYcdzvso8QCgd/">CoinMarketCap</a>.
Note that the coin has very low liquidity, about $82,900, as of this writing, making it vulnerable to wild price swings. Additionally, its absence from mainstream cryptocurrency exchanges raises another red flag.
A civil court jury found last week that McGregor <a href="https://edition.cnn.com/2024/11/26/sport/conor-mcgregor-civil-rape-verdict-spt-intl/index.html">assaulted </a>a woman in a Dublin hotel in December 2018, ordering him to pay her nearly €250,000, roughly $263,600, in damages, per a CNN report.
The Irish MMA fighter&#8217;s reputation has since taken a big hit, with his wax figure getting removed from the National Wax Museum Plus in Dublin, the BBC <a href="https://www.bbc.com/news/articles/c0j8xq3zdn5o">reported</a>. 
See Also:&nbsp;<a href="https://www.benzinga.com/24/11/42238227/trader-turns-160-into-6m-in-just-12-days-with-chill-guy-meme-coin-but-concerns-of-insider-trading-arise">Trader Turns $160 Into $6M In Just 12 Days With &#8216;Chill Guy&#8217; Meme Coin But Insider Trader Concerns Arise</a>
Why It Matters: Interestingly, this isn&#8217;t the first time Nurmagomedov has been linked to controversial cryptocurrency ventures. 
Last year the MMA legend <a href="https://www.benzinga.com/markets/cryptocurrency/23/02/31111704/coffeezilla-picks-nft-fight-with-mma-legend-khabib-nurmagomedov-scamming-your-fans">faced accusations</a> from &#8220;Crypto Detective&#8221; Coffeezilla for promoting a potential cryptocurrency scam involving his new non-fungible token (NFT) project. 
Nurmagomedov launched an exclusive NFT collection in partnership with GoMining, a cryptocurrency mining platform, promising fans access to his "private club" and the ability to mine Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).
Photo Courtesy: Camerasandcoffee On Shutterstock.com
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</ul>

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

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$BTC

$SOL

MMA Star Khabib Nurmagomedov Backs Meme Coin 'Fighting' For Conor McGregor's Victims: 'This Guy Deserves Punishment'

Lvmh Moet Hennessy Louis's (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LVMHF#OTC">LVMHF</a>) Bernard Arnault has denied knowledge of any alleged spying and intelligence peddling.
What Happened: Arnault, the chief of LVMH, testified in a high-stakes trial on Thursday, denying any knowledge of an alleged scheme to protect the luxury group, <a href="https://fortune.com/europe/2024/11/28/billionaire-bernard-arnault-court-completely-unaware-ex-spy-chief-abused-powers-protect-lvmh/">reported</a> Fortune.
France&#8217;s wealthiest man was called to testify in the trial of Bernard Squarcini, the former head of France&#8217;s domestic intelligence agency.
Squarcini is one of ten men on trial, facing charges of using his security contacts for private gain, including obtaining confidential information on behalf of LVMH.
See Also: <a href="https://www.benzinga.com/24/11/42228090/bitcoin-ethereum-dogecoin-surge-as-traders-raise-risk-appetite-ahead-of-thanksgiving-analyst-says-eth-could-jump-to-highs-not-seen-since-late-2021?itm_source=parsely-api">Bitcoin, Ethereum, Dogecoin Surge As Traders Raise Risk Appetite Ahead Of Thanksgiving: Analyst Sets Mid-Term Price Target For ETH At $6K</a>
The charges against Squarcini relate to his tenure as the head of the DCRI security service from 2008-2012 and his subsequent return to the private sector, where he largely worked for LVMH as a consultant.
Investigators state that DCRI officers were deployed as early as 2008 to identify a blackmailer targeting Arnault.
Arnault stated in court, &#8220;I was completely unaware&#8221; of the alleged scheme.&nbsp;
He also denied any knowledge of an attempted blackmail targeting his private life in 2008, for which the DCRI mobilized its agents to identify the blackmailer, the report noted.
The LVMH boss also refuted allegations related to spying on Francois Ruffin, a former journalist and current left-wing lawmaker, and the leftist newspaper Fakir that Ruffin founded.
LVMH had previously settled out of court in 2021, paying 10 million euros in fines, but Arnault and LVMH were never put on trial.
Why It Matters: This trial comes at a challenging time for LVMH, which has been grappling with a decline in revenue. The company&#8217;s third-quarter revenue fell by 3%, falling short of analyst forecasts.
The French luxury empire led by Arnault boasts an impressive portfolio of premium jewelry, fashion, and spirits brands. Many of its offerings, particularly those under the iconic Louis Vuitton label, are priced at over $1,000.
This latest downturn has been attributed to sluggish demand from shoppers throughout the year. The trial could potentially add to the company&#8217;s woes, depending on the outcome.
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<li><a href="https://www.benzinga.com/markets/cannabis/24/11/42225423/mexico-president-claudia-sheinbaum-to-trump-neither-threats-nor-tariffs-will-solve-your-fentanyl-crisis?itm_source=parsely-api">Mexico President Claudia Sheinbaum To Trump: &#8216;Neither Threats Nor Tariffs&#8217; Will Solve Your Fentanyl Crisis</a></li>
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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.

Legal

Media

LVMHF

LVMH CEO Bernard Arnault Denies Spying Allegations And Influence-Peddling Ties During Legal Testimony

Baijiayun Group Ltd ("Baijiayun" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RTC#NASDAQ">RTC</a>), a one-stop AI video solution provider, today announced it has recently officially reached an ecological cooperation with DingTalk, a leading enterprise service platform under Alibaba Group. Relying on its in-depth accumulation and technological innovation in the field of AI digitalization, Baijiayun has officially obtained the honorary certification of "DingTalk Industry Service Provider".
DingTalk is a collaboration platform under the Alibaba Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>). Becoming a DingTalk industry service provider is a new starting point for the cooperation between Baijiayun and DingTalk in the digital field.

BABA

Reported Thursday, Baijiayun Joins Forces With Alibaba's DingTalk, Secures Industry Service Provider Certification

Cathie Wood, founder and CEO of ARK Investment Management LLC, defended the future of artificial intelligence investments while highlighting Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) as a cornerstone of technological innovation during a recent podcast appearance with SoFi&#8216;s Head of Investment Strategy, Liz Thomas.
What Happened: Wood popularly known for leading ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) characterized Tesla as &#8220;the largest AI project on Earth,&#8221; emphasizing AI&#8217;s transformative potential across multiple sectors. 
She particularly highlighted healthcare advancements, where AI&#8217;s convergence with sequencing technologies could revolutionize cancer diagnosis through blood testing, especially when combined with CRISPR gene editing capabilities.
Addressing concerns about heavy GPU and cloud infrastructure investments by major tech companies, Wood acknowledged investor skepticism about capital expenditure increases. 
Wood cited Microsoft Corp&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) dramatic spending surge from $30 billion to $60 billion in 18 months as an example of investments that have yet to demonstrate clear returns.
See Also: <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42237636/bitcoin-ethereum-dogecoin-simmer-down-on-thanksgiving-analyst-sees-significant-shift-from-btc-season-to-alt-season">Bitcoin, Ethereum, Dogecoin Simmer Down On Thanksgiving: Analyst Sees &#8216;Significant Shift&#8217; From BTC Season To Alt Season</a>
Why It Matters: The ARK Invest CEO&#8217;s comments come amid her firm&#8217;s recent portfolio adjustments, including an $18 million reduction in Tesla holdings through its flagship funds. Despite these sales, Wood maintains a bullish long-term outlook on Tesla&#8217;s <a href="https://www.benzinga.com/24/11/42205945/ark-invests-bold-move-tesla-shares-sold-amid-market-shifts">autonomous driving potential</a>, projecting a &#8220;trillion-dollar-plus revenue opportunity.&#8221;
Wood&#8217;s investment thesis extends beyond Tesla to the broader biologics sector, where she envisions a $400 billion market opportunity emerging from the convergence of AI, genetic sequencing, and <a href="https://www.benzinga.com/general/biotech/24/11/42206182/cathie-wood-sees-400b-opportunity-in-biologics-how-have-her-bets-fared">gene editing technologies</a>. 
Her ARK Genomic Revolution ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKG#BATS">ARKG</a>), managing $1.179 billion in assets, reflects this conviction through significant investments in companies like Twist Bioscience Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWST#NASDAQ">TWST</a>) and CRISPR Therapeutics AG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRSP#NASDAQ">CRSP</a>).
Responding to concerns about elevated market valuations, Wood noted that current market multiples in the low 20s leave little room for error. However, she remains confident in the emergence of transformational business models, particularly at the intersection of AI and healthcare innovation, where she sees potential for revolutionary advances in <a href="https://www.benzinga.com/general/biotech/24/11/42206182/cathie-wood-sees-400b-opportunity-in-biologics-how-have-her-bets-fared">disease treatment and diagnosis</a>.
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<li><a href="https://www.benzinga.com/24/11/42237670/meta-tiktok-snapchat-could-face-32m-fines-as-australia-enforces-social-media-ban-for-under-16s-while-exempting-youtube">Meta, TikTok, Snapchat Could Face $32M Fines As Australia Enforces Social Media Ban For Under-16s</a></li>
</ul>
Image via Ark Invest
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.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>

Equities

Global

Markets

ARKG

ARKK

CRSP

MSFT

TSLA

TWST

Cathie Wood Sees Tesla As 'Largest AI Project On Earth' — Here's Why She's Not Worried About Tech Investments

ARMN

Reported Thursday, Aris Mining Responds To Colombian Ministry's Draft Resolution For Soto Norte Region

YUMC

Reported Thursday, Yum China Launched Supplier Recruitment Platform At Beijing Expo

Pursuant to the Agreement, the underlying assets (the "Assets") for the Fund's initial investment are the first and second phases of VNET's Taicang IDC Campus, which currently has a total IT capacity of approximately 210MW and an estimated value of RMB5.74 billion, reflecting an implied post-closing valuation of approximately 10.1x EV/EBITDA. VNET will retain a 51% equity interest in the Assets through the Fund, while Dajia&nbsp;will acquire and hold the&nbsp;remaining 49% interest.

VNET

Reported Thursday, VNET And Dajia Cement Strategic Pre-Reits Fund To Drive China's Digital Economy

Federal prosecutors in Cleveland are seeking forfeiture of nearly $1 million in cryptocurrency linked to a scam that drained an elderly Elyria man&#8217;s life savings, highlighting the growing trend of sophisticated <a href="https://www.benzinga.com/news/legal/24/11/42023632/financial-crime-weekly-darknet-money-laundering-crypto-scams-invesco-pays-17-5m-sec-penalty">crypto fraud targeting vulnerable investors</a>.
What Happened: The victim lost $408,000 after scammers, posing as Apple Inc. support representatives, gained remote access to his computer in October 2023. The criminals transferred his funds through Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>), the largest stablecoin platform, to obscure the money trail, <a href="https://www.cleveland.com/court-justice/2024/11/elyria-man-loses-life-savings-in-cryptocurrency-con-feds-say.html">according</a> to news publication Cleveland. 
The case marks the second time in two months that Cleveland prosecutors have pursued the seizure of stolen funds laundered through Tether.
&#8220;The scammers wired money from the victim&#8217;s bank to a virtual currency account, then transferred it through multiple cryptocurrency wallets,&#8221; prosecutors told U.S. District Judge Pamela Barker in their filing. The victim and his wife now rely solely on Social Security and family support.
The Cleveland FBI&#8217;s investigation revealed an additional $539,000 in suspected stolen or laundered cryptocurrency linked to the same criminal network, bringing the total seized funds to $947,000.
See Also: <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42237636/bitcoin-ethereum-dogecoin-simmer-down-on-thanksgiving-analyst-sees-significant-shift-from-btc-season-to-alt-season">Bitcoin, Ethereum, Dogecoin Simmer Down On Thanksgiving: Analyst Sees &#8216;Significant Shift&#8217; From BTC Season To Alt Season</a>
Why It Matters: This case emerges amid an unprecedented surge in cryptocurrency crime in 2024, with industry losses exceeding $1.58 billion, according to recent reports. Just this August, the SEC uncovered a $650 million crypto fraud scheme, while a separate Genesis <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40961791/the-biggest-crypto-crime-cases-in-2024-heists-frauds-and-multi-million-dollar-scams-shake-">creditor heist resulted in $243 million in losses</a>.
The scam followed a common pattern where criminals initiate contact through computer alerts, phone calls, or social media. In this instance, the perpetrators exploited the victim&#8217;s trust through a fake computer security alert and sophisticated <a href="https://www.benzinga.com/news/legal/24/11/42023632/financial-crime-weekly-darknet-money-laundering-crypto-scams-invesco-pays-17-5m-sec-penalty">social engineering tactics</a>.
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</ul>
Image via Freepik
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.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>

$USDT

Apple Impersonators Drain Elderly Man's Account In Crypto Fraud, Feds Seek $1M Forfeiture

Macro Economic Events

Econ #s

Economics

BBJP

WisdomTree Trust Japan Total Dividend Fund

Reported Earlier, Japan Industrial Production (MoM) Preliminary For October 3.0% Vs. 3.8% Est.; 1.6% Prior

Reported Earlier, Japan Tokyo Core Consumer Price Index (CPI) YoY For November 2.2% Vs. 2.0% Est.; 1.8% Prior

World Network (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WLD</a>) emerged as one of the biggest cryptocurrency market gainers Thursday after the identity verification project unveiled a pilot feature that would allow users to claim additional tokens.
What happened: WLD, the native cryptocurrency of the newly-branded network, previously called Worldcoin, spiked over 13% to become the second-best-performing cryptocurrency in the last 24 hours.
The coin's trading volume jumped 145% to around $1.35 billion, boosting the volume-to-market cap ratio to 67%.
The surge in buying pressure came following the launch of a new feature, called "World ID Credentials," aimed at making the network more accessible.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The new World ID Passport Credential is here, with access to additional WLD tokens.<a href="https://t.co/aD8utAGAQs">https://t.co/aD8utAGAQs</a>
&mdash; World (@worldcoin) <a href="https://twitter.com/worldcoin/status/1862276636143436167?ref_src=twsrc%5Etfw">November 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/trading-ideas/movers/24/11/42228464/ethereum-rally-gets-overshadowed-by-searing-gains-in-cheaper-plays-why-are-ens-and-etc-soaring-today">Ethereum Rally Gets Overshadowed By Searing Gains In Cheaper Plays: Why Are ENS And ETC Soaring Today?</a>
"The new feature can be added to a person's World ID whether or not they have verified their humanness at an Orb," World Network announced.&nbsp;
Furthermore, using Credentials, World ID holders may claim additional WLD tokens, regardless of whether their World ID was validated at an Orb location.
The project would be rolled out in select countries including Chile, Colombia, Malaysia and South Korea
Why It Matters: Sam Altman, co-founder of OpenAI, launched the Worldcoin project last year amid significant media attention.
The project collects people&#8217;s irises to authenticate their humanness and creates a digital ID, thereby making them eligible to receive free WLD tokens.
However, the initiative has encountered challenges related to personal data protection. The project has been prohibited in <a href="https://www.benzinga.com/markets/asia/24/05/38981228/sam-altman-founded-worldcoin-shown-the-door-in-hong-kong-over-privacy-concerns">Hong Kong</a>, Kenya, and <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39176283/sam-altman-founded-worldcoins-suspension-extended-in-spain-crypto-plunges-55-since-march-p">Spain</a>.&nbsp;
Price Action: At the time of writing, Worldcoin was trading at $2.86, up 13.51% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
Image by CryptoFX on Shutterstock
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</ul>

Movers

Trading Ideas

$WLD

Sam Altman-Founded World Network Coin Soars 13% On Launch Of New Pilot Project 'World ID Credentials'

Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google is facing an antitrust lawsuit in Canada.
What Happened: As per a statement issued on Thursday, Canada&#8217;s Competition Bureau is taking legal action against Google for alleged anti-competitive behavior in online advertising.
The Bureau has lodged an application with the Competition Tribunal, seeking an order that mandates Google to sell two of its ad tech tools.
See Also: <a href="https://www.benzinga.com/24/11/42156596/netflix-co-founder-marc-randolph-reveals-why-true-wealth-isnt-about-lamborghinis-or-1000-wines-but-the-freedom-to-choose-meaningful-living?itm_source=parsely-api">Netflix Co-Founder Marc Randolph Reveals Why True Wealth Isn&#8217;t About Lamborghinis Or $1,000 Wines But The Freedom To Live Meaningfully</a>
It is also seeking a penalty to encourage compliance with Canada&#8217;s competition laws.
In response to the complaint, Google told Reuters that it &#8220;ignores the intense competition where ad buyers and sellers have plenty of choice.&#8221;
Why It Matters: This lawsuit comes on the heels of a <a href="https://www.benzinga.com/24/11/42167449/google-doj-set-to-present-closing-arguments-in-adtech-trial">similar case in the U.S.</a>, where the Justice Department tried to prove Google&#8217;s monopolization of markets for publisher ad servers and advertiser ad networks.
Google has defended its business decisions and argued that the online advertising market is robust and competitive.
Earlier in the month, the <a href="https://www.benzinga.com/government/regulations/24/11/42143421/staggering-google-breakup-proposal-from-doj-a-kitchen-sink-moment-alphabet-analyst">U.S. Department of Justice</a> also proposed a breakup of Google to curb its search engine dominance.
Google described the proposed remedies as "staggering" and analysts referred to the sweeping remedies as a &#8220;kitchen sink moment.&#8221;
Price Action: On Wednesday, Alphabet&#8217;s Class A shares ended the regular session 0.06% higher at $169.23 and the company&#8217;s Class C shares rose 0.1% higher at $170.82, according to <a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Image via Shutterstock
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<li><a href="https://www.benzinga.com/24/11/42208148/russian-hackers-launch-widespread-cyber-assault-using-firefox-and-windows-zero-days-what-you-need-to-know-about-the-romcom-exploit?itm_source=parsely-api">Russian Hackers Launch Widespread Cyber Assault Using Firefox And Windows Zero-Days: What You Need To Know About The RomCom Exploit</a></li>
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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.

Tech

GOOG

GOOGL

Google Hit With Groundbreaking Antitrust Lawsuit In Canada Over Ad Tech Tools

A trader won a fortune betting on a cryptocurrency inspired by a viral internet meme, which is now worth more than $500 million in market capitalization.
What Happened:&nbsp;On-chain tracking platform&nbsp;Lookonchain&nbsp;took to X Wednesday, highlighting the extraordinary trade of Just a chill guy (CHILLGUY) token.
The trader turned a mere $160 into a staggering $6.14 million in just 12 days, marking a 38,399X return on investment.
The trader purchased 12.5 million CHILLGUY tokens on Pump.fun, a Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based meme coin launching pad, for 0.75 SOL, equivalent to $160. Subsequently, they sold 2.8 million CHILLGUY for 149 SOL, worth $35,400.
The trader still has 9.62 million tokens in their coffers, valued at $6.1 million, resulting in a total profit of $6.14 million.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Turned $160 into $6.14M, ​​a 38,399x return! 12 days ago, this trader spent only 0.75 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a>($160) to buy 12.5M $CHILLGUY on <a href="https://t.co/DrKlYnPPqY">https://t.co/DrKlYnPPqY</a>, and then sold 2.8M $CHILLGUY for 149 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a>($35.4K). <a href="https://twitter.com/hashtag/CHILLGUY?src=hash&amp;ref_src=twsrc%5Etfw">#CHILLGUY</a> The trader still holds 9.62M $CHILLGUY($6.1M), with a total profit of… <a href="https://t.co/a5tPaB3KpT">pic.twitter.com/a5tPaB3KpT</a>
&mdash; Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1861689820671811947?ref_src=twsrc%5Etfw">November 27, 2024</a></blockquote>
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See Also:&nbsp;<a href="https://www.benzinga.com/24/11/42237876/peter-schiff-predicts-microstrategys-bankruptcy-due-to-bitcoin-investment-strategy">Peter Schiff Calls MicroStrategy A &#8216;Great Short&#8217; And Issues A Grim Warning: &#8216;It Can Only End In Bankruptcy&#8217;</a>
The huge windfall planted doubts in the minds of some observers, who called the trader an insider. Since their sale, the price of the token has plummeted as much as 21%.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">he is an insider
&mdash; Crypto Spotter (@CryptoSpotter05) <a href="https://twitter.com/CryptoSpotter05/status/1861698096448807396?ref_src=twsrc%5Etfw">November 27, 2024</a></blockquote>
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Schemes like pump-and-dumps have been fairly common in the cryptocurrency market, where a person or group starts to artificially inflate the price. Once unsuspecting investors are lured in and the price is sufficiently "pumped," the holders start dumping their assets at profits.
That said, there was nothing concrete to suggest that the same transpired in the aforementioned case. 
The meme coin, based on the &#8220;Chill Guy&#8221; meme, featuring a dog in a sweater and jeans with a smirk, has quickly grown into a half-billion-dollar market capitalization asset. 
Over the last week, the token has jumped over 46% as cryptocurrency traders continue to turn internet memes and trends into money-making possibilities.
The token has a circulating supply of 999.7 million, while its volume-to-market cap ratio stood at 31.08% as of this writing.
Price Action: At the time of writing, CHILLGUY was exchanging hands at $0.5186, down 5.09% in the last 24 hours, <a href="https://coinmarketcap.com/currencies/just-a-chill-guy/">according </a>to CoinMarketCap. Its trading volume plunged by 47% to $156 million in the last 24 hours. 
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42235119/ethereum-outperformed-bitcoin-this-week-as-key-indicators-shift-report">Ethereum Outperformed Bitcoin This Week As Key Indicators Shift: Report</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.

Trader Turns $160 Into $6M In Just 12 Days With 'Chill Guy' Meme Coin But Insider Trader Concerns Arise

U.S. regulators approved the nation&#8217;s first 24-hour stock exchange on Wednesday, marking a significant shift in American securities trading as retail investors increasingly demand round-the-clock market access.
What Happened: The Securities and Exchange Commission granted approval to 24 Exchange, backed by Steve Cohen&#8216;s Point72 Ventures, following the startup&#8217;s second application attempt. 
The approval comes amid growing momentum for extended trading hours, with Charles Schwab Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) recently announcing plans to <a href="https://www.benzinga.com/fintech/24/10/41627496/schwab-expands-24-hour-trading-to-include-all-stocks-in-s-p-500-nasdaq-100-hundreds-of-etfs">expand 24-hour trading access</a> to all S&amp;P 500 and Nasdaq-100 stocks by 2025.
The exchange will launch in two phases, beginning with regular trading hours before expanding to overnight sessions between Sunday and Friday. A one-hour operational pause will occur during each trading day to accommodate routine software upgrades and functionality testing. 
This development follows Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) offering 24-hour trading of more than 1,000 tickers and NYSE parent Intercontinental Exchange Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>) filing to extend NYSE Arca trading to 22 hours daily.
Read Next: <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42237636/bitcoin-ethereum-dogecoin-simmer-down-on-thanksgiving-analyst-sees-significant-shift-from-btc-season-to-alt-season">Bitcoin, Ethereum, Dogecoin Simmer Down On Thanksgiving: Analyst Sees &#8216;Significant Shift&#8217; From BTC Season To Alt Season</a>
Why It Matters: &#8220;Traders are most at-risk when the market is closed in their geographic location,&#8221; said Dmitri Galinov, CEO and founder of 24X. &#8220;We will seek to alleviate this problem by facilitating around-the-clock U.S. equities trading.&#8221;
The approval represents a significant evolution from traditional stock trading hours, bringing equity markets closer to the continuous trading seen in cryptocurrencies and foreign exchange markets. 
The move comes after 24 Exchange&#8217;s strategic pivot from cryptocurrency trading in 2023 when it discontinued its spot crypto product amid regulatory pressures and declining interest <a href="https://www.benzinga.com/markets/cryptocurrency/23/06/32981451/steve-cohen-backed-24-exchange-pulls-the-plug-on-spot-crypto-trading-as-regulatory-pressur">following the FTX collapse</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42237909/joby-aviations-electric-air-taxi-takes-flight-in-microsoft-simulator-after-analyst-sees-3b-revenue-opportunity">Joby&#8217;s Electric Air Taxi Lands In Microsoft Flight Simulator 2024, Here&#8217;s How You Can Fly It</a></li>
</ul>
Image Via Shutterstock 
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.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>

HOOD

SCHW

SEC Approves America's First 24-Hour Stock Exchange — What It Means For You

Joby Aviation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JOBY#NYSE">JOBY</a>) has integrated its electric air taxi into Microsoft Flight Simulator 2024, allowing aviation enthusiasts worldwide to experience the future of urban air mobility. 
What Happened: The company&#8217;s aircraft, capable of speeds up to 200 mph with zero operating emissions, is now available in the latest edition of the popular simulation game.
JoeBen Bevirt, Joby&#8217;s Founder and CEO, emphasized the significance of making their aircraft accessible to a broader audience: &#8220;We&#8217;re incredibly excited to share our revolutionary aircraft with aviation enthusiasts of all ages and backgrounds, giving everyone an opportunity to experience the intuitive and effortless controls we have designed.&#8221;
The aircraft&#8217;s implementation in the simulator is the result of extensive collaboration with Microsoft to accurately replicate its dimensions, flight physics, and unique &#8220;unified flight controls&#8221; system, similar to those used in the F-35B Joint Strike Fighter.
<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 Joby electric air taxi is available to fly in Microsoft Flight Simulator 2024, so we put together an overview of how to fly the aircraft using one of our planned service routes as an example: JFK Airport to Downtown Manhattan (JRB). In this video, Joby software engineer and… <a href="https://t.co/ic9l642P2o">pic.twitter.com/ic9l642P2o</a>
&mdash; Joby Aviation (@jobyaviation) <a href="https://twitter.com/jobyaviation/status/1861811572793893097?ref_src=twsrc%5Etfw">November 27, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/24/11/42237670/meta-tiktok-snapchat-could-face-32m-fines-as-australia-enforces-social-media-ban-for-under-16s-while-exempting-youtube">Meta, TikTok, Snapchat Could Face $32M Fines As Australia Enforces Social Media Ban For Under-16s</a>
Why It Matters: This development comes as Needham analyst Chris Pierce initiated coverage on Joby with a Buy rating and an $8 price target. 
Pierce highlights the company&#8217;s strong market position, bolstered by its 2020 acquisition of Uber Elevate and the development of its ElevateOS platform. The analyst projects a $3 billion early-stage global air taxi revenue opportunity, with operations expected to begin in the UAE by 2025 and <a href="https://www.benzinga.com/24/11/42079908/nvidia-microstrategy-apollo-global-management-joby-aviation-and-tesla-why-these-5-stocks-are-on-investors-radars-today">U.S. regulatory approval anticipated for 2026</a>.
Joby&#8217;s strategy includes partnering with CAE to develop advanced flight simulation training devices for pilot certification. The company&#8217;s vertically integrated approach to manufacturing is expected to reduce aircraft costs and strengthen its competitive position in the <a href="https://www.benzinga.com/24/11/42071065/analyst-says-faa-support-uber-partnership-push-joby-aviation-toward-air-taxi-leadership">emerging air taxi market</a>.
The aircraft, designed to transport four passengers and a pilot, represents an advancement in urban air mobility, offering reduced noise compared to traditional helicopters while maintaining high-speed transportation capabilities. 
Investors can gain exposure to Joby through ETFs including WisdomTree Trust WisdomTree Battery Value Chain and Innovation Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/WBAT#BATS">WBAT</a>) and ARK Space Exploration &amp; Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKX#BATS">ARKX</a>).
Price Action: Joby Aviation stock closed at $8.00 on Wednesday, up 1.27% for the day. In after-hours trading, the stock rose an additional 0.50%. Year to date, Joby Aviation&#8217;s stock has surged 29.45%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/movers/24/11/42237636/bitcoin-ethereum-dogecoin-simmer-down-on-thanksgiving-analyst-sees-significant-shift-from-btc-season-to-alt-season">Bitcoin, Ethereum, Dogecoin Simmer Down On Thanksgiving: Analyst Sees &#8216;Significant Shift&#8217; From BTC Season To Alt Season</a></li>
</ul>
Image via Joby Aviation
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.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>

ARKX

JOBY

WBAT

Joby's Electric Air Taxi Lands In Microsoft Flight Simulator 2024, Here's How You Can Fly It

Big tech CEOs of Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), 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>), Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), and Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) have shared messages of gratitude with their followers as they celebrated Thanksgiving 2024.
What Happened: On Thursday, Apple CEO Tim Cook took to X, formerly Twitter, and expressed his thanks while highlighting the importance of health, prosperity, and the possibilities ahead.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Thanksgiving is about giving thanks for each other with the hope for health and prosperity. This year I&#39;m giving thanks for the many possibilities ahead and the people in my life—including our team at Apple, our users, and all those dedicated to making the world a better place.
&mdash; Tim Cook (@tim_cook) <a href="https://twitter.com/tim_cook/status/1862104161384575450?ref_src=twsrc%5Etfw">November 28, 2024</a></blockquote>
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Last month, Apple announced <a href="https://www.benzinga.com/news/earnings/24/10/41666494/apple-q4-earnings-revenue-beat-eps-beat-installed-base-hits-new-highs-iphone-sales-rise-as-apple-in">fiscal fourth-quarter revenue </a>of $94.9 billion, surpassing analyst expectations of $94.56 billion. This marked the seventh consecutive quarter that Apple has exceeded analyst estimates for both revenue and earnings, according to <a href="http://pro.benzinga.com/">Benzinga Pro</a>.
See Also: <a href="https://www.benzinga.com/tech/24/11/42233241/jensen-huang-says-he-doesnt-love-every-day-of-his-job-heres-how-the-nvidia-boss-created-a-company-worth-over-3-trillion-today">Jensen Huang Says He Doesn&#8217;t &#8216;Love&#8217; Every Day Of His Job. Here&#8217;s How The Nvidia Boss Created A Company Worth Over $3 Trillion Today</a>
Alphabet CEO Sundar Pichai shared a simple yet heartfelt message, appreciating his family, friends, users, and colleagues worldwide.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Happy Thanksgiving! Grateful to spend time with family and friends, and for our users, partners, and Googlers around the world:)
&mdash; Sundar Pichai (@sundarpichai) <a href="https://twitter.com/sundarpichai/status/1862236073382093065?ref_src=twsrc%5Etfw">November 28, 2024</a></blockquote>
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In October, Alphabet also posted its <a href="https://www.benzinga.com/news/earnings/24/10/41611263/alphabet-q3-earnings-highlights-revenue-beat-eps-beat-google-cloud-up-35-momentum-across-the-compan">third-quarter revenue</a> of $88.27 billion, reflecting a 15% increase compared to the previous year. The results exceeded the consensus estimate of $86.31 billion from analysts.
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.
Tesla and SpaceX CEO, who also owns X and xAI, Elon Musk, offered a brief but warm Thanksgiving greeting.&nbsp;
<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">&#x1f1fa;&#x1f1f8;&#x1f1fa;&#x1f1f8; Happy Thanksgiving! &#x1f1fa;&#x1f1f8;&#x1f1fa;&#x1f1f8;
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1862143540912132102?ref_src=twsrc%5Etfw">November 28, 2024</a></blockquote>
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Musk's Tesla reported <a href="https://www.benzinga.com/news/earnings/24/10/41501607/tesla-q3-earnings-highlights-eps-beat-revenue-miss-shares-climb-on-2025-timeline-for-lower-cost-evs">third-quarter revenue</a> of $25.18 billion, marking an 8% year-over-year increase. However, the figure fell short of the Street consensus estimate of $25.37 billion.
Meanwhile, AMD CEO Lisa Su posted an image with a turkey and thanked her extended AMD family, friends, and fans.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Wishing everyone a very Happy Thanksgiving!!! I'm very thankful to our amazing <a href="https://twitter.com/AMD?ref_src=twsrc%5Etfw">@AMD</a> extended family, friends, and fans. Looking forward to all we will do together. &#x2764;&#xFE0F; <a href="https://t.co/eo7LWnz90Z">pic.twitter.com/eo7LWnz90Z</a>
&mdash; Lisa Su (@LisaSu) <a href="https://twitter.com/LisaSu/status/1862256282129859049?ref_src=twsrc%5Etfw">November 28, 2024</a></blockquote>
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AMD posted <a href="https://www.benzinga.com/news/earnings/24/10/41612007/amd-q3-earnings-revenue-beat-eps-in-line-data-center-up-122-significant-growth-opportunities-ahead-">third-quarter revenue</a> of $6.8 billion, surpassing analyst expectations of $6.71 billion.
Photo Courtesy: Claudio Schwarz on Unsplash
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/global/24/11/42179729/as-nvidia-maintains-chip-supremacy-jim-cramer-says-the-so-called-enemies-of-semiconductor-giant-arent-really-enemies" target="_blank" rel="noreferrer noopener">As Nvidia Maintains Chip Supremacy, Jim Cramer Says Foes Of Semiconductor Giant ‘Aren&#8217;t Really Enemies&#8217;</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

AAPL

What Do Tim Cook, Sundar Pichai, Elon Musk, And Lisa Su Have In Common This Thanksgiving? Heartwarming Gratitude, Unexpected Humor, And A Turkey Or Two

Influential economist and market strategist&nbsp;Peter Schiff&nbsp;said shorting MicroStrategy Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) stock was a good idea, as he predicted potential bankruptcy for the company.
What Happened: During an interview with Kitco News that aired Thursday, Schiff called MicroStrategy a &#8220;great short&#8221; if one&#8217;s got the staying power, though he denied himself taking such a position.
&#8220;If&nbsp;you understand the dynamics of&nbsp;how this works, I mean&nbsp;you see that it can&nbsp;only end in the bankruptcy&nbsp;of MicroStrategy,&#8221; the Bitcoin critic made a bold prediction.
Making his argument, Schiff said that the company&#8217;s commitment to repay a large sum of money to c<a href="https://www.benzinga.com/markets/equities/24/11/42186167/michael-saylors-microstrategy-convertible-notes-to-buy-bitcoin-offer-no-interest-so-why-are-investors-rushing-to-buy-them">onvertible note holders</a> could be a potential risk&nbsp;if the price of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), the asset it holds on its books,&nbsp;drops.
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<iframe loading="lazy" title="Bitcoin Strategic Reserve: Selling Gold for Bitcoin Is ‘Worst Monetary Mistake' US Can Make &#x7C; Schiff" width="500" height="281" src="https://www.youtube.com/embed/QRfn1h_3VYU?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42235015/chris-burniske-dismisses-supercycle-narrative-a-collective-delusion">Bitcoin &#8216;Supercycle&#8217; Narrative Is A &#8216;Collective Delusion,&#8217; Influential Crypto Venture Capitalist Says</a>
He stated that the bondholders are under the &#8220;false belief&#8221; that they have exposure to Bitcoin with no downside risk and would simply receive their money back in the worst-case situation of bankruptcy.
&#8220;Well, the problem is MicroStrategy is promising to&nbsp;pay so many&nbsp;people back so much money&nbsp;that it won&#8217;t&nbsp;be able to do it&nbsp;if the price of Bitcoin&nbsp;goes down because it doesn&#8217;t&nbsp;have the money because it&nbsp;wasted it on Bitcoin,&#8221; Schiff said. 
He predicted that the only way to repay the debt would be by selling Bitcoin.
&#8220;But as the biggest buyer and biggest owner, if it becomes the biggest seller, what happens to the price of Bitcoin? It crashes. So I think the only way this is going to end is in bankruptcy,&#8221; Schiff emphasized.
Why It Matters: Schiff&#8217;s remarks come in the wake of recent concerns raised about&nbsp;MicroStrategy and its Bitcoin investment strategy. 
Cryptocurrency analyst Willy Woo had previously flagged the potential liquidation risk of MicroStrategy due to its convertible debt offerings. He said that if the buyers of the convertible debt do not convert to shares before maturity, <a href="https://www.benzinga.com/24/11/42228264/crypto-analyst-flags-convertible-debt-induced-liquidation-risk-to-michael-saylors-microstrategy">MicroStrategy would be forced to sell Bitcoin</a> to repay the debt holders.
Additionally, investment adviser Gary Black questioned MicroStrategy&#8217;s valuation, suggesting that the company&#8217;s stock was <a href="https://www.benzinga.com/24/11/42156261/are-microstrategys-shares-worth-only-105-investment-adviser-gary-black-weighs-in">significantly overpriced</a>.&nbsp;
MicroStrategy's aggressive Bitcoin acquisition strategy has been the subject of intense media coverage in recent weeks. Last week, it outshone major companies on Wall Street <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42102652/michael-saylors-microstrategy-takes-wall-street-by-storm-becomes-second-most-traded-stock-after-nvidia">to emerge as the second-most traded stock</a> on a trading day.
Price Action: Since the beginning of November, MicroStrategy's stock has surged 69%. The company&#8217;s shares closed 9.94% higher at $388.84 on Wednesday.
Photo Courtesy: Wikimedia Commons
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42234954/will-apple-or-nvidia-be-the-worlds-most-valuable-company-by-the-end-of-2024-polymarket-traders-have-a-clear-favorite">Will Apple Or NVIDIA Be The World&#8217;s Most Valuable Company By The End Of 2024? Polymarket Traders Have A Clear Favorite</a></li>
</ul>

MSTR

Peter Schiff Calls MicroStrategy A 'Great Short' And Issues A Grim Warning: 'It Can Only End In Bankruptcy'

Australia has passed a <a href="https://www.benzinga.com/news/24/09/40784803/after-feud-with-elon-musk-and-mark-zuckerberg-australian-pm-anthony-albanese-set-to-ban-social-media">law banning social media</a> access for children under 16, enforcing strict penalties on Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), ByteDance-owned TikTok, and Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>).
What Happened: The <a href="https://www.benzinga.com/news/24/09/40784803/after-feud-with-elon-musk-and-mark-zuckerberg-australian-pm-anthony-albanese-set-to-ban-social-media">Social Media Minimum Age Bill</a>, approved on Thursday, prohibits minors under 16 from accessing platforms such as X, formerly Twitter, Instagram, Facebook, TikTok, and Snapchat.
Violations could result in fines of up to $32 million (AUD 49.5 million), reported Reuters.
YouTube, a subsidiary of Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google, has been exempted from this ban as it is widely used in schools.
See Also: <a href="https://www.benzinga.com/news/earnings/24/11/42201885/dell-technologies-shares-drop-after-q3-revenue-misses-estimates-details?itm_source=parsely-api">Dell Technologies Shares Drop After Q3 Revenue Misses Estimates: Details</a>
In their statements to the report, spokespersons for Meta and Snap expressed concerns about the legislation.
They also promised to comply with the laws while engaging closely with the government during the 12-month implementation period.&nbsp;
Snapchat, Google, Met, and TikTok did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga's</a> request for comments.
The law will undergo a trial implementation phase starting January 2025, with full enforcement expected in 2026.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: The legislation has sparked a national debate. Some proponents cite the need to combat the <a href="https://www.benzinga.com/government/24/05/38751844/australia-calls-for-inquiry-into-metas-facebook-elon-musks-x-tiktok-to-make-these-platforms-accounta">negative mental health impacts</a> of social media on young people.
Critics, however, argue it may infringe on young users&#8217; rights, privacy, and access to online support networks.
The ban also follows a series of events that began with Australia&#8217;s Prime Minister Anthony Albanese&#8217;s feud with tech leaders like Elon Musk and Mark Zuckerberg.
Earlier in June, Musk's X prevailed in a <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">legal dispute with the Australian government</a> over its attempt to have footage of a church stabbing in Sydney removed.
During the same month, Meta also warned that it could restrict news content in Australia if <a href="https://www.benzinga.com/markets/equities/24/06/39542628/mark-zuckerbergs-meta-warns-it-may-block-news-content-in-australia-if-asked-to-pay-licensing-fee">required to pay licensing fees</a>.
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>.
Read Next:
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<li><a href="https://www.benzinga.com/24/11/42208148/russian-hackers-launch-widespread-cyber-assault-using-firefox-and-windows-zero-days-what-you-need-to-know-about-the-romcom-exploit?itm_source=parsely-api">Russian Hackers Launch Widespread Cyber Assault Using Firefox And Windows Zero-Days: What You Need To Know About The RomCom Exploit</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.

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Leading cryptocurrencies powered down for Thanksgiving as signs of an incoming alt season emerged.
<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>-1.03%</td>
<td>$95,544.73</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>-2.38%</td>
<td>$3,562.08</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>-1.50%</td>
<td>$0.4002</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin oscillated within the $95,000 zone for the greater part of the day. Trading volume for the apex cryptocurrency plunged by as much as 28%.
Ethereum made a quick surge to $3,640, only to reverse course to the $3,500 range.
Bitcoin and Ethereum dominance dipped over the last 24 hours, while the market share of the rest of the altcoins rose.
Total cryptocurrency liquidations exceeded $204 million in the last 24 hours, with more than $129 million in bullish leveraged positions getting wiped out.
About $627 million in long positions risked getting liquidated if Bitcoin retraces to $93,000.
Bitcoin's Open Interest (OI) fell 1.03% in the last 24 hours, while the dominance of traders shorting the digital asset also rose, per the Long/Shorts Ratio.
The "Extreme Greed" sentiment strengthened from 77 to 78 over the last 24 hours, according to the reading of 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>Algorand (ALGO)</td>
<td>+20.07%</td>
<td>$0.3476</td>
</tr>
<tr>
<td>The Sandbox (SAND)</td>
<td>+8.90%</td>
<td>$0.6567</td>
</tr>
<tr>
<td>Worldcoin (WLD)</td>
<td>+8.79%</td>
<td>$2.81</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.32 trillion, contracting 0.26% in the last 24 hours.
Stock futures traded near the flatline Thursday overnight. The Dow Jones Industrial Average Futures rose 60 points, or 0.13%, as of 8 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 gained 0.08%, while Nasdaq 100 Futures added 0.07%.
Banks, post offices, shipping services, stock markets, and all the other over-the-counter markets like bond markets remained closed on the Thanksgiving holiday.&nbsp;
Stock markets will reopen on Friday to close early by 1:00 p.m. ET.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Arthur Azizov, CEO of cryptocurrency payment provider B2BINPAY, told Benzinga that the market was on the brink of a "significant shift," transitioning from Bitcoin season to alt season.
"It&#8217;s very close now, as the altseason index is already at 59, according to CoinMarketCap, which is more than half. When the index reaches 75, we can confidently say the alt season has begun. The index rises with the number of altcoins outperforming Bitcoin," Azizov remarked.
Widely-followed cryptocurrency analyst Dom's Crypto noted Bitcoin was flipping the $95,000 resistance level into support.
"This will lead to a $100,000 BTC faster than anyone thinks," the analyst forecast.
<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 Path to $100,000 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> is just as we &#39;speak&#39; flipping the resistance level $95,000 in to support This will lead to a $100k <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> faster than anyone thinks &#8211; Myself included <a href="https://t.co/nWewMHEH22">pic.twitter.com/nWewMHEH22</a>
&mdash; Dom&#39;s Crypto (@Doms_Crypto) <a href="https://twitter.com/Doms_Crypto/status/1862285687195640218?ref_src=twsrc%5Etfw">November 29, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Image via Shutterstock
Read Next:    
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42235119/ethereum-outperformed-bitcoin-this-week-as-key-indicators-shift-report">Ethereum Outperformed Bitcoin This Week As Key Indicators Shift: Report</a></li>
</ul>

$DOGE

$ETH

Bitcoin, Ethereum, Dogecoin Simmer Down On Thanksgiving: Analyst Sees 'Significant Shift' From BTC Season To Alt Season

Seven &amp; i Holdings Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SVNDY#OTC">SVNDY</a>), the Japanese conglomerate that owns the global convenience store chain 7-Eleven, has become the focus of significant international investment interest. 
What Happened: U.S.-based firms Bain Capital, KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), and Fortress Investment Group have reportedly submitted bids for Seven &amp; i&#8217;s supermarket and restaurant business holding company, according to sources cited <a href="https://asia.nikkei.com/Business/Business-deals/Bain-KKR-bid-to-acquire-Seven-i-s-supermarket-business">by</a> Nikkei. 
York Holdings, Japanese trading giant Sumitomo Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSUMY#OTC">SSUMY</a>) has also joined the bidding, reflecting strong domestic competition.
York Holdings, established by Seven &amp; i in October as part of a broader corporate restructuring, is designed to streamline the company's operations. The initial round of bidding concluded Thursday, with shortlisted contenders expected to begin detailed asset evaluations in early 2025.
According to a recent NHK <a href="https://www3.nhk.or.jp/news/html/20241119/k10014643321000.html">report</a>, the founding Ito family of Seven &amp; i Holdings, the parent company of 7-Eleven, is actively pursuing plans to take the company private through a management buyout, aiming to prevent a potential takeover by a Canadian rival and consolidate control over the business within the family.
See Also: <a href="https://www.benzinga.com/24/11/42237449/mexican-president-sheinbaum-pushes-back-against-trumps-border-closure-claim-clarifies-migration-stance">Mexican President Sheinbaum Pushes Back Against Trump&#8217;s Border Closure Claim, Clarifies Migration Stance</a>
Why It Matters: The renewed investor interest follows Seven &amp; i&#8217;s rejection of a $38.5 billion acquisition offer from Alimentation Couche-Tard Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ANCTF#OTC">ANCTF</a>), the Canadian parent company of Circle K. 
Couche-Tard aimed to create the world's largest convenience store operator through the merger but faced antitrust concerns in the U.S. Despite proposing divestitures to address regulatory issues, the bid was deemed not in the best <a href="https://www.benzinga.com/markets/equities/24/09/40765790/circle-k-owner-couche-tard-pursues-talks-with-7-11-operator-seven-i-after-38-5b-bid-rejected">interests of Seven &amp; i's shareholders</a>.
Analysts, including JapanConsuming co-founder Michael Causton, have highlighted that Seven &amp; i remains undervalued due to its complex structure and corporate culture. 
Couche-Tard's strategic timing, paired with its reputation for deal-making, signals its recognition of the company&#8217;s long-term potential. However, acquiring Seven &amp; i at a lower valuation remains challenging as investor awareness of <a href="https://www.benzinga.com/markets/equities/24/09/40765790/circle-k-owner-couche-tard-pursues-talks-with-7-11-operator-seven-i-after-38-5b-bid-rejected">its intrinsic value grows</a>.
Price Action: Shares of Seven &amp; i rose 2.5% in Tokyo trading, on Friday following these developments, reflecting optimism about the company's strategic moves, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/education/24/11/42232990/so-you-told-your-family-to-invest-in-bitcoin-dogecoin-ethereum-at-thanksgiving-last-year-heres-how-much-they-now-have-and-why-you-might-be-invited-back-to-the-adult-table-2">So You Told Your Family To Invest In Bitcoin, Dogecoin, Ethereum At Thanksgiving Last Year? Here&#8217;s How Much They Now Have (And Why You Might Be Invited Back To The Adult Table)</a></li>
</ul>
Image via Unsplash
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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