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Jake Chervinsky, Chief Legal Officer at&nbsp;Variant Fund, suggests that the Democratic Party has a significant opportunity to win back a large portion of the cryptocurrency vote in the upcoming elections with Joe Biden&#8217;s exit.
What Happened: On Sunday, Chervinsky took to X to express his views on the potential impact of cryptocurrency on the upcoming elections. He highlighted that although Donald Trump has aggressively wooed the growing cryptocurrency demographic by cashing in on the Biden administration&#8217;s hostility toward the industry, the new Democratic nominee has an opportunity to &#8220;flip the script.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">With President Biden stepping aside, the Democratic Party has a huge opportunity to win back a big share of the crypto vote. This should be top priority for the new nominee in an election that will be won on the margins in states where crypto is a live issue. Here's why: It&#39;s…
&mdash; Jake Chervinsky (@jchervinsky) <a href="https://twitter.com/jchervinsky/status/1815131074097549776?ref_src=twsrc%5Etfw">July 21, 2024</a></blockquote>
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Chervinsky pointed out that cryptocurrency has not been a partisan issue, and despite the Biden government&#8217;s stance, Democrats have supported legislation favorable to the sector, like the <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/39004550/exclusive-all-you-need-to-know-about-the-fit21-crypto-bill">Financial Innovation and Technology for the 21st Century Act.</a>
Moreover, he underlined that a large number of cryptocurrency advocates are Democrats and left-leaning, and don&#8217;t support Republicans on issues like abortion rights. 
Seeing an opening, Chervinsky urged the new nominee to &#8220;emphatically&#8221; take steps to win back the confidence of cryptocurrency voters, like declaring commitment to the industry&#8217;s growth in the U.S., acknowledging the problems with the SEC&#8217;s regulatory oversight, publishing a list of pro-cryptocurrency potential appointees to the SEC and CFTC, and reaching out to key stakeholders in the industry. 
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39865585/bitcoin-unaffected-by-global-it-outage-prediction-markets-dont-see-quick-resolution">Bitcoin Unaffected By Global IT Outage, Prediction Markets Don&#8217;t See Quick Resolution</a>
Why It Matters: Chervinsky&#8217;s suggestion comes after President Joe Biden <a href="https://www.benzinga.com/news/24/07/39874088/biden-backs-harris-for-democratic-nominee-after-bowing-out-of-2024-race-i-want-to-offer-my-full-supp">announced his withdrawal from the 2024 presidential race, endorsing Vice President Kamala Harris as the Democratic nominee</a>. 
Meanwhile, <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39875516/bitcoin-critic-elizabeth-warren-backs-kamala-harris-for-presidency-after-biden-withdraws-f">Senator Elizabeth Warren</a> (D-Mass.), a known critic of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), has publicly endorsed Harris for the presidency. This endorsement could potentially influence the voting patterns of the cryptocurrency cohort, which now accounts for a significant chunk of the total voting population.
A recent survey indicated that <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39136615/survey-crypto-stance-could-sway-one-third-of-2024-voters">one-third of U.S. voters would consider a candidate&#8217;s stance on cryptocurrency</a> in the 2024 elections.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39872368/mark-cuban-says-trumps-re-election-wont-impact-bitcoins-price-dogecoin-killer-shiba-inus-b?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Says Trump&#8217;s Re-Election Won&#8217;t Impact Bitcoin&#8217;s Price, &#8216;Dogecoin Killer&#8217; Shiba Inu&#8217;s Burn Rate</a></li>
</ul>

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

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$BTC

Democrats Have 'Huge Opportunity' To Win Back Chunk Of Crypto Vote After Biden's Exit From 2024 Race, Legal Expert Urges New Nominee To Take These Steps

Macro Economic Events

Econ #s

Economics

Reported Earlier, People's Bank of China Loan Prime Rate 3.35% Vs. 3.45% Est.; 3.45% Prior

Reported Earlier, China Loan Prime Rate 5Y For July 3.85% Vs. 3.95% Est.; 3.95% Prior

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has extended a three-month trial to the owners of&nbsp;Sony Group Corp.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) PlayStation models. 
What Happened: Apple joined forces with&nbsp;Sony&nbsp;to provide&nbsp;a three-month free trial of&nbsp;its on-demand video service, Apple TV+, to PlayStation 4 or 5 owners. 
The offer, valid until Sept. 22, 2024, is a continuation of a similar promotion that Apple and Sony ran during the 2021 pandemic, which offered a six-month trial. It is an upgrade from Apple&#8217;s usual one-week trial period for new users.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/07/39873131/apple-skips-tsmcs-2nm-chip-for-iphone-17-unveils-first-ios-18-public-beta-and-more-this-week-in-appl?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple Skips TSMC&#8217;s 2nm Chip For iPhone 17, Unveils First iOS 18 Public Beta And More: This Week In Appleverse</a>
How To Redeem Your Offer:
Step I: Locate the Apple TV app in the TV and Video section on your PS4 console or in the Media Home on your PS5 console.
Step II: Download and open the Apple TV app, then follow the on-screen instructions.
Step III: Sign in with your existing Apple ID or create a new one and voila, you are done.
Post-trial, users can opt to&nbsp;continue&nbsp;their subscription to Apple TV+&nbsp;for $10 per month. An&nbsp;Apple One subscription, which&nbsp;bundles several Apple services together, is also available.
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: While Apple and Sony have joined forces here, the two tech giants are competing on other fronts.
Last year, Apple expressed <a href="https://www.benzinga.com/news/23/09/34675716/forget-playstation-and-xbox-apple-thinks-the-iphone-15-pro-will-be-the-best-game-console">confidence in the capabilities</a> of the A17 Pro chipset, stating that the iPhone 15 Pro would be &#8220;the best game console,&#8221; outperforming Sony&#8217;s PlayStation and Microsoft&#8217;s Xbox gaming consoles.
At Sony's CES 2024 presentation, the company unveiled a <a href="https://www.benzinga.com/news/24/01/36556571/apple-vision-pro-competitor-sony-shows-off-new-mixed-reality-headset-with-a-controller-wand-and-ring">mixed reality headset</a> for &#8220;spatial content creation&#8221; with a launch expected later this year. At the time, Sony&#8217;s announcement came just <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36549296/apple-vision-pro-to-hit-stores-in-february-top-analyst-ming-chi-kuo-tells-what-inve">about a month before Apple</a> was scheduled to make its Vision Pro headset available for purchase.
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>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39768442/6-new-hidden-iphone-features-you-probably-havent-discovered-yet-on-ios-18" target="_blank" rel="noreferrer noopener">6 New Hidden iPhone Features You Probably Haven&#8217;t Discovered Yet on iOS 18</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Entertainment

Gaming

Tech

AAPL

Sony Group Corporation American Depositary Shares

SONY

Apple Extends 3-Month TV+ Trial To PlayStation Users: Here's Everything You Need To Know

The U.S. political landscape saw tectonic shifts as incumbent Joe Biden dropped out of the 2024 presidential contest against his arch-rival Donald Trump.&nbsp;
What Happened: This major development injected fresh volatility in coins themed on former President Trump, who is viewed as a pro-cryptocurrency candidate by some. 
Maga Coin, rooted in Trump's "Make America Great Again" movement, plunged 8% in the last 24 hours. The Ethereum (CRYTO: ETH)-based token's trading volume soared 140% to $19 million in the last 24 hours, signaling frantic sell-offs.
<figure class="wp-block-table"> 
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<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 11:00 p.m. EDT)</td>
</tr>
<tr>
<td>Donald Trump (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>)</td>
<td>+53.12%</td>
<td>$0.00823</td>
</tr>
<tr>
<td>MAGA (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>)</td>
<td>-8.04%</td>
<td>$6.95</td>
</tr>
</tbody>
</table>
</figure>
The negative reaction could have to do with Biden's departure. Cryptocurrency bettors have been betting against Biden for quite some time, and even before the formal announcement, the odds of him pulling out of the race were <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39829658/odds-of-biden-dropping-out-of-race-surge-to-66-pollster-nate-silver-joins-crypto-based-pre">surging </a>on Polymarket.
On the other hand, a Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based memecoin, Donald Trump, jumped 53% in the last 24 hours, with volumes swelling up by 265%.
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/24/07/39871849/analyst-predicts-bitcoin-to-soar-by-83-but-theres-one-major-catch-were-going-to-get-that-c">Analyst Predicts Bitcoin To Soar By 83%, But There&#8217;s One Major Catch: &#8216;We&#8217;re Going To Get That Continuation As Long As &#8230;&#8217;</a>
Why It Matters: Trump-themed coins have rallied sharply this year, bolstered by his support for the cryptocurrency industry in the U.S.
His positive campaigning has helped garner support among proponents of the asset class, whether it be through his guarantees that the U.S. will become a <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38723503/trump-pledges-to-make-sure-you-can-donate-using-crypto-to-his-2024-campaign-unwittingly-se">crypto-friendly travel destination</a>, his positioning as a &#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39239552/trump-declares-himself-crypto-president-after-raising-12m-at-vc-hosted-san-francisco-fundr">crypto president</a>,&#8221; or his acceptance of political donations in cryptocurrencies.
The odds of Trump winning the elections were still overwhelmingly <a href="https://polymarket.com/event/presidential-election-winner-2024?tid=1721617867932">high</a> at 65% on Polymarket, indicating the cryptocurrency market&#8217;s bullish bias.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39872368/mark-cuban-says-trumps-re-election-wont-impact-bitcoins-price-dogecoin-killer-shiba-inus-b">Mark Cuban Says Trump&#8217;s Re-Election Won&#8217;t Impact Bitcoin&#8217;s Price, &#8216;Dogecoin Killer&#8217; Shiba Inu&#8217;s Burn Rate Increases And More: This Week In Cryptocurrency</a></li>
</ul>

Movers

Trading Ideas

$SOL

$TRUMP

Trump-Themed MAGA Coin Plunges 8% As Joe Biden Quits Presidential Race

Thailand's Deputy Prime Minister and Bhumjaithai (BJT) party leader Anutin Charnvirakul opposes the Thai government&#8217;s June decision to recriminalize cannabis and <a href="https://www.benzinga.com/markets/asia/24/06/39298781/thailand-unveils-proposals-making-cannabis-illegal-again-and-reduce-meth-possession-limits">reclassify it as a narcotic</a> starting January 1, 2025. 
Charnvirakul, <a href="https://www.bangkokpost.com/thailand/politics/2831753/anutin-puzzled-by-cannabis-u-turn" target="_blank" rel="noreferrer noopener">according to</a> The Bangkok Post, expressed his concerns to Prime Minister Srettha Thavisin, noting that the government&#8217;s decision lacks convincing evidence to justify changing the status of marijuana. 
Advocates <a href="https://www.benzinga.com/markets/cannabis/24/07/39694786/video-cannabis-advocates-in-thailand-protest-reclassification-stressing-need-for-scientific-revi" target="_blank" rel="noreferrer noopener">called for a scientific review</a> and for cannabis to be regulated under a special law to address any issues of concern. Shortly thereafter, pro-cannabis activists took things even further and began <a href="https://www.benzinga.com/markets/cannabis/24/07/39817884/thai-cannabis-advocates-on-hunger-strike-to-protest-recriminalization-of-marijuana-health-minist" target="_blank" rel="noreferrer noopener">a hunger strike on July 10 </a>to demand that the government listen to their views.
As of July 19, the Cannabis Future Network confirmed that its 10-day hunger strike had ended, <a href="https://www.pattayamail.com/thailandnews/cannabis-future-network-ends-10-day-hunger-strike-in-front-of-government-house-bangkok-466169" target="_blank" rel="noreferrer noopener">reported </a>PattayaMail. The organization also announced the formation of a people's committee with representatives from all relevant parties to study and analyze marijuana's impact on society. The report is meant to be completed in two months and presented to the public and authorities in charge of marijuana regulation.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39694786/video-cannabis-advocates-in-thailand-protest-reclassification-stressing-need-for-scientific-revi" target="_blank" rel="noreferrer noopener">[VIDEO] Cannabis Advocates In Thailand Protest Reclassification, Stressing Need For Scientific Review And Effect On Economy</a>
<h2 class="wp-block-heading">Puzzling U-Turn</h2>
Speaking to the press on Thursday, Charnvirakul said he was puzzled by the government's reversal on the issue in view of the fact that the people on the committee seeking to recriminalize cannabis are the same ones who supported decriminalizing it two years ago. He asked the committee members to stick to their principles and pointed out that politicians from his party have the right to vote against the proposal.
Meanwhile, those supporting recriminalization of the plant also became more active. Last week, the Youth Network Against Cannabis (YNAC) and several other health advocacy groups gathered at the NCB's headquarters to submit a petition for the change in status. According to the report, the petition was co-signed by 200,000 people.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/06/39534154/80-of-surveyed-thai-citizens-support-cannabis-recriminalization-government-poll-shows" target="_blank" rel="noreferrer noopener">80% Of Surveyed Thai Citizens Support Cannabis Recriminalization, Government Poll Shows</a></li>
</ul>
Photo: Benzinga edit with images by <a href="https://www.pexels.com/@alesiakozik/">Alesia Kozik</a> via Pexels, and Wikimedia Commons

Cannabis

Government

Legal

Deputy Prime Minister Of Thailand Speaks Out Against Gov's Decision To Recriminalize Cannabis, Advocates End 10-Day Hunger Strike

Influential investor Bill Ackman urges the public to approach so-called &#8216;conspiracy theories&#8217; with an open mind, rather than dismissing them outright.
What Happened: On Sunday, Ackman took to X to share his views on the treatment of &#8216;conspiracy theories.&#8217; He argued that labeling something a conspiracy theory often serves to discourage thorough investigation and sway public opinion towards a predetermined conclusion.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">People too quickly dismiss so-called ‘conspiracy theories.' As we have learned in recent years, labeling something a conspiracy theory is often an attempt to discourage a careful investigation of the facts in an effort to convince the public to accept a preordained conclusion.…
&mdash; Bill Ackman (@BillAckman) <a href="https://twitter.com/BillAckman/status/1814731248339984538?ref_src=twsrc%5Etfw">July 20, 2024</a></blockquote>
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Ackman further stated that the term &#8216;right-wing&#8217; is frequently used to describe conspiracy theories, potentially leading left-leaning individuals to dismiss them. He cited examples of &#8216;right-wing conspiracy theories&#8217; that turned out to be true, such as the Hunter Biden laptop incident and the theory that Covid-19 escaped from a lab.
See Also: <a href="https://www.benzinga.com/news/24/07/39870085/trump-boasts-very-good-phone-call-with-zelenskyy-says-russia-ukraine-will-come-together-and-negotiat?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Boasts &#8216;Very Good&#8217; Phone Call With Zelenskyy, Says Russia-Ukraine Will &#8216;Come Together And Negotiate A Deal That Ends The Violence&#8217;</a>
Why It Matters: Ackman&#8217;s comments come in the wake of his recent <a href="https://www.benzinga.com/news/24/07/39763405/billionaire-investor-bill-ackman-announces-trump-endorsement-i-assure-you-that-i-have-made-this-deci">public endorsement</a> of former President Donald Trump for the upcoming presidential election. Ackman assured his followers that his decision was made rationally and based on empirical data.
Earlier in the year, Ackman had criticized the Democrats for supporting President Joe Biden for a second term, arguing that this was the <a href="https://www.benzinga.com/news/24/04/38491021/bill-ackman-flags-this-as-biggest-mistake-democrats-have-made-handing-the-election-to-trump-will-be">biggest mistake</a> they had made. He suggested that this support had given Biden false hope and prevented younger, more capable candidates from emerging.
Image Via Shuttestock
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39873597/anthony-scaramucci-says-if-democrats-win-they-can-extinguish-large-elements-of-trumpism-but-youre-no?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Says If Democrats Win, They Can &#8216;Extinguish Large Elements Of Trumpism&#8217; But &#8216;You&#8217;re Not Going To Be Able To Do It If You Don&#8217;t&#8230;&#8217;</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

General

Bill Ackman Says People Dismiss 'Conspiracy Theories' Too Quickly — Cites Hunter Biden Laptop As An Example That 'Turned Out To Be True'

Bitcoin and Ethereum consolidated, while Dogecoin rose as President Joe Biden announced his <a href="https://www.benzinga.com/general/politics/24/07/39874057/biden-drops-out-of-2024-race-in-bombshell-announcement-it-has-been-the-greatest-honor-of-my-life">withdrawal</a> from the 2024 presidential race. 
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded 9:15 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+1.52%</td>
<td>$68,136.71</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>+0.83%</td>
<td>$3,540.81</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>+5.50%</td>
<td>$0.1397</td>
</tr>
</tbody>
</table>
</figure>
What Happened: The world's largest cryptocurrency, Bitcoin, traded flat until the news of Biden dropping out of the contest broke, injecting positive volatility in the market. King Crypto recorded a weekly close above $68,000 and is up more than 10% over the week.
Ethereum moved in the $3,500 zone, anticipating bullish impetus as it awaits the final approval of exchange-traded funds tracking its spot price. The investment products <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39784783/ethereum-spot-etfs-likely-to-start-trading-by-july-23-provided-no-unforeseeable-last-min-i">are likely to go live this week</a>.
In the last 24 hours, 56,837 traders were liquidated, with the total liquidations at $165.54 million, More than $100 million in bullish bets were liquidated.
Bitcoin's Open Interest rose 1.08% to $37.21 billion in the last 24 hours, complementing the price increase. This is typically indicative of a bullish sentiment.
The Cryptocurrency Fear &amp; Greed Index flashed "Greed" at the time of writing, signaling significant buying sentiment 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 9:15 p.m. EDT)</td>
</tr>
<tr>
<td>Celestia (TIA)</td>
<td>+16.30%</td>
<td>$7.55</td>
</tr>
<tr>
<td>Core (CORE)</td>
<td>+15.12%</td>
<td>$1.65</td>
</tr>
<tr>
<td>Avalanche (AVAX)</td>
<td>+12.27%</td>
<td>$32.54</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market stands at $2.48 trillion, up 1.65% in the last 24 hours.
Stock futures edged higher Sunday night. The Dow Jones Industrial Average Futures gained 0.12%, as of 9:15 p.m. EDT.&nbsp; Futures linked to the S&amp;P 500 added 0.22%, while Nasdaq 100 Futures rose 0.36%.
Traders monitored political developments in the wake of Biden dropping out of the 2024 presidential race. It will be interesting to see how the market opens this week in response to this significant development.
Last week, major indices like the S&amp;P 500 and the Nasdaq Composite registered their biggest weekly losses since April.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Popular cryptocurrency trader CrypNuevo anticipated significant volatility in the Bitcoin market after Joe Biden's announcement.
"Expecting a volatile price action instead; therefore, I think it&#8217;s likely to see a move down first. Then we can go up to liquidity at $68,900," the trader predicted.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> Sunday update: It was going to be a quiet week ahead, but Biden just announced that he is not running for re-election. Expecting a volatile price action instead; therefore, I think it&#39;s likely to see a move down first. Then we can go up to the liquidity at $68.9k. &#x1f9f5;&#x1f447; <a href="https://t.co/3XfaZITYWL">pic.twitter.com/3XfaZITYWL</a>
&mdash; CrypNuevo &#x1f528; (@CrypNuevo) <a href="https://twitter.com/CrypNuevo/status/1815089004422795337?ref_src=twsrc%5Etfw">July 21, 2024</a></blockquote>
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Widely-followed analyst Rekt Capital stated that a weekly close above $65,000 could bolster Bitcoin's chances of reclaiming $71,500 in the following week.
With the apex cryptocurrency closing near $68,000, it&#8217;ll be intriguing to see if the predictions come true.
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<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> Every time Bitcoin Weekly Closed above ~$65000 (blue) in an uptrend&#8230; Bitcoin would revisit ~$71500 in the following week Could history repeat itself? We know it often does What about this time?<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/KosyX2ezIh">pic.twitter.com/KosyX2ezIh</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1815071037735723511?ref_src=twsrc%5Etfw">July 21, 2024</a></blockquote>
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Photo by SvetlanaParnikova on Shutterstock
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39875516/bitcoin-critic-elizabeth-warren-backs-kamala-harris-for-presidency-after-biden-withdraws-f">Bitcoin Critic Elizabeth Warren Backs Kamala Harris For Presidency After Biden Withdraws From The Race: &#8216;She&#8217;s Ready To Step Up&#8217;</a></li>
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$DOGE

$ETH

Bitcoin, Ethereum Hold Steady, Dogecoin Spikes As Biden Bows Out Of Presidential Race: King Crypto Might Have A Chance To Reclaim $71.5K, Forecasts Analyst

In a significant move, Chinese electric vehicle (EV) maker Xpeng Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) and German auto giant Volkswagen AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>) have announced a partnership to expedite the development of a new EV architecture.
What Happened: As per a Reuters report on Thursday, Xpeng and Volkswagen have set up project houses in Guangzhou and Hefei, China. These will serve as joint workspaces for engineers from both companies to fast-track the creation of a new EV architecture.
The collaboration aims to start production of the new architecture, a layout of electronic components, modules, and network within a vehicle, within two years. &#8220;From 2026, all electric vehicles of the Volkswagen brand in China will be equipped with this very powerful and efficient architecture,&#8221; stated Ralf Brandstätter, a board member of Volkswagen AG for China.
See Also: <a href="https://www.benzinga.com/markets/equities/24/07/39871513/trump-pours-cold-water-on-industry-tesla-falls-ahead-of-earnings-week-fords-step-back-in-ev-plan?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Pours Cold Water On Industry, Tesla Falls Ahead Of Earnings Week, Ford&#8217;s Step-back In EV Plans And More: Biggest EV Stories Of The Week</a>
The project houses are part of a deal between Xpeng and Volkswagen, where the latter intends to use the new architecture to manufacture more affordable EVs in its largest market. This comes after a partnership formed last year when Volkswagen acquired a 4.99% stake in Xpeng for roughly $700 million, with plans to jointly launch two Volkswagen-branded EV models by 2026.
Why It Matters: This collaboration comes at a time when Chinese EV stocks, including Xpeng, are facing a downturn due to the Biden administration&#8217;s potential imposition of <a href="https://www.benzinga.com/markets/equities/24/07/39838601/whats-going-on-with-chinese-ev-maker-xpeng-shares-on-thursday">chip sale restrictions</a> on China, escalating geopolitical tensions between the U.S. and China. As per a Benzinga report, XPEV stock has lost over 39% in the past year.
Furthermore, foreign automakers are <a href="https://www.benzinga.com/news/24/07/39787139/chinese-ev-thrive-despite-tariff-hikes-foreign-rivals-struggle">struggling to compete</a> in China&#8217;s rapidly growing EV market, despite new tariffs on Chinese EVs. According to a study by AlixPartners, foreign car companies are lagging in China&#8217;s EV market, which accounts for over 40% of new passenger cars sold in the country.
Check out more of Benzinga's Future Of Mobility coverage by <a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
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<li><a href="https://www.benzinga.com/general/entertainment/24/07/39870013/elon-musk-reacts-as-rapper-meek-mill-flexes-his-all-black-cybertruck-ahead-of-his-new-song-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts As Rapper Meek Mill Flexes His All-Black Cybertruck Ahead Of His New Song Named After Tesla&#8217;s EV Truck</a></li>
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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>

VWAGY

XPEV

Xpeng And Volkswagen Partner For New Project House Focused On EV Architecture

Senator&nbsp;Elizabeth Warren&nbsp;(D-Mass.) has publicly endorsed Vice President Kamala Harris for the presidential race, hours after President Joe Biden lent support to her candidacy
What Happened: On Tuesday, Elizabeth Warren took to X to express her support for Harris with a video captioned, &#8220;I endorse Vice President Kamala Harris.&#8221; 
&#8220;She&#8217;s ready to step up, bring our party together, go toe to toe with Donald Trump, and win the election,&#8221; the senator can be seen saying in the video. &#8220;I&#8217;m here for Kamala because Kamala has been here for the American people year after year.&#8221;&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I endorse Vice President Kamala Harris. <a href="https://t.co/UWMsVmOk8M">pic.twitter.com/UWMsVmOk8M</a>
&mdash; Elizabeth Warren (@ewarren) <a href="https://twitter.com/ewarren/status/1815179495743365343?ref_src=twsrc%5Etfw">July 22, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39866130/whats-going-on-with-coinbase-stock?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Coinbase Stock?</a>
This endorsement comes after President Joe Biden&#8217;s <a href="https://www.benzinga.com/news/24/07/39874088/biden-backs-harris-for-democratic-nominee-after-bowing-out-of-2024-race-i-want-to-offer-my-full-supp">withdrawal from the 2024 presidential race</a> and subsequent support for Harris as the Democratic nominee. Biden&#8217;s endorsement was also made via social media, where he stated that choosing Harris as his vice president was his best decision as the party nominee in 2020.
Why It Matters: Warren&#8217;s endorsement of Harris is significant given the political climate. It comes amidst a contentious political environment, with <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39852340/elizabeth-warrens-opponent-gets-a-1m-donation-in-bitcoin-from-winklevoss-twins-spent-the-l">Warren&#8217;s opponent receiving a $1 million donation in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> from the Winklevoss twins, co-founders of cryptocurrency exchange Gemini.
The twins have been vocal about their support for John Deaton, who is running against Warren, due to his pro-cryptocurrency stance. This is in stark contrast to Warren, whom they claim has been trying to destroy the industry.
Warren <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/39070738/remember-elizabeth-warrens-anti-crypto-campaign-donald-trump-promises-to-keep-elizabeth-wa">has been a vocal critic of the cryptocurrency industry</a>. She has made several previous remarks at hearings and other gatherings pushing for stronger regulation of cryptocurrency, alleging that it leads to increased illicit acts that are essentially untraceable.
Price Action: Coin themed around Kamala Harris, Kamla Horris (CRYPTO: KAMA) surged 125% in the last 24 hours, <a href="https://www.coingecko.com/en/coins/kamala-horris">according </a>to CoinGecko.
Photo by Rich Koele on Shutterstock
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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors

Bitcoin Critic Elizabeth Warren Backs Kamala Harris For Presidency After Biden Withdraws From The Race: 'She's Ready To Step Up'

The <a href="https://www.benzinga.com/news/24/07/39861744/microsoft-outage-what-states-services-companies-saw-the-blue-screen-of-death">flawed update</a> from&nbsp;CrowdStrike Holdings Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>), which led to a global IT outage, has attracted criticism from a leading U.S. cybersecurity official.
What Happened: In a LinkedIn post on Saturday, Jen Easterly, director of the&nbsp;Cybersecurity and Infrastructure Security Agency,&nbsp;labeled the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39858714/crowdstrike-shares-trim-heavy-losses-as-microsoft-announces-resolution-of-global-te">faulty software update</a> as a &#8220;serious mistake.&#8221; 
The incident &#8220;was a huge deal with serious impacts on critical infrastructure operations across the world,&#8221; she stated, adding, &#8220;While it wasn't malicious, it was a serious mistake, one for which CEO George Kurtz took full responsibility, apologized, and committed to resolving collaboratively,&#8221; 
See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/07/39854612/windows-pcs-crash-worldwide-with-users-experiencing-blue-screen-of-death-issue-crowdstrike-updat?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Windows PCs Crash Worldwide With Users Experiencing Blue Screen Of Death Issue, CrowdStrike Confirms Defect: &#8216;Fix Has Been Deployed&#8217;</a>
She went on to say that disruptions from technology outages or cyber-attacks, including those by Chinese actors, are inevitable. Organizations must anticipate and plan for these events, designing resilient systems and training personnel to manage them. 
Moreover, governments and critical infrastructure entities must enhance resilience to ensure swift response and recovery, minimizing disruption to essential services, Easterly said.
The LinkedIn post was first <a href="https://www.bloomberg.com/news/articles/2024-07-20/crowdstrike-s-crwd-mistake-was-a-huge-deal-us-cyber-official-says?srnd=phx-technology">spotted</a> by Bloomberg.
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 defective update impacted <a href="https://www.benzinga.com/news/24/07/39873706/crowdstrike-outage-impacted-less-than-1-of-windows-devices-but-still-managed-to-wreak-havoc-report">approximately&nbsp;8.5 million devices</a> globally that&nbsp;run on the Microsoft Corporation&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Windows system.&nbsp;
The update had a profound effect on businesses and governments worldwide, causing disruptions in critical infrastructure operations.
Following the incident, CrowdStrike experienced a <a href="https://www.benzinga.com/markets/equities/24/07/39871636/crowdstrike-issues-statement-following-massive-outage-that-stemmed-from-content-update-for-windo">significant decline in its stock price</a>. The company is currently assisting affected customers due to a flaw discovered in a specific content update for Windows hosts.
Image Via Shutterstock
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>.
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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.

CRWD

MSFT

Crowdstrike's Faulty Microsoft Windows Update Gets Slammed By US Cybersecurity Official: 'Was A Huge Deal…'

Lawrence Summers, a prominent economist and an Obama-era Treasury Secretary, has criticized Donald Trump&#8217;s economic program and leadership, following President Joe Biden&#8217;s <a href="https://www.benzinga.com/general/politics/24/07/39874057/biden-drops-out-of-2024-race-in-bombshell-announcement-it-has-been-the-greatest-honor-of-my-life">decision to withdraw</a> from the 2024 Presidential race.
What Happened: In a post on X, on Wednesday, Summers expressed his concerns about Trump&#8217;s potential return to the White House. He called out Trump&#8217;s &#8220;rampant dishonesty, demagoguery and dangerousness,&#8221; and stated that his economic program could undermine the security of millions of Americans. &#8220;Defeating him is the most important electoral priority of my lifetime,&#8221; Summers wrote.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Now after President <a href="https://twitter.com/JoeBiden?ref_src=twsrc%5Etfw">@JoeBiden</a>&#39;s withdrawal it is time for the focus to shift to candidate Trump's rampant dishonesty, demagoguery and dangerousness. His economic program would undermine the economic security of tens of millions of Americans and our national security. Partisanship…
&mdash; Lawrence H. Summers (@LHSummers) <a href="https://twitter.com/LHSummers/status/1815138717377728743?ref_src=twsrc%5Etfw">July 21, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/earnings/24/07/39812718/nasdaq-s-p-500-futures-plunge-after-trumps-comments-and-asmls-weak-forecast-deepens-tech-sell-off-a?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nasdaq, S&amp;P 500 Futures Plunge After Trump&#8217;s Comments And ASML&#8217;s Weak Forecast Deepens Tech Sell-Off: AI Narrative May Be Priced In, Says Analyst</a>
The tweet came in response to President Biden&#8217;s announcement that he will not be running for re-election in 2024, which has caused a significant shift in the political landscape.
Why It Matters: Biden&#8217;s withdrawal from the 2024 race has led to speculation about the potential candidates and the future direction of the country. Following the announcement, <a href="https://www.benzinga.com/news/24/07/39875181/trump-wants-republicans-reimbursed-after-biden-quits-we-have-to-start-all-over-again">Trump criticized Biden&#8217;s decision</a> and suggested that the Republican Party should be compensated for the sudden change.
Summers&#8217; comments reflect the concerns of many who fear the potential consequences of Trump&#8217;s return to power. His post underscores the high stakes of the upcoming election and the deep divisions within the country.
Photo by Brookings Institution on Flickr
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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>

Larry Summers: Biden Quitting Shifts Focus To Trump's 'Dishonesty, Demagoguery, And Dangerousness' — Warns Ex-President's Policies Will 'Undermine Economic Security Of Tens Of Millions'

The <a href="https://www.benzinga.com/news/24/07/39855896/how-to-fix-crowdstrike-issue-causing-blue-screen-of-death-on-your-windows-pc">global tech outage</a> continues to wreak havoc on U.S. air travel, with over 2,500 flights canceled for the third consecutive day, leading to thousands of passengers stranded.
What Happened: On Sunday, about 1,700 flights within, into, or out of the U.S. were canceled, and over 9,000&nbsp;flights were delayed, according to&nbsp;FlightAware.com. Delta Air Lines&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) accounted for over 1,000 of these cancellations. 
The airline attributed the cancellations and delays to &#8220;an outside vendor technology issue&#8221; and offered travel vouchers, waivers, and SkyMiles Program miles to some affected customers, <a href="https://edition.cnn.com/2024/07/21/us/tech-outage-flight-cancellations-united-delta-airlines/index.html">reported</a> CNN.
Delta CEO, Ed Bastian, assured customers that the airline is working to restore operations. &#8220;Canceling&nbsp;a flight is always a last resort, and something we&nbsp;don't take lightly,&#8221; Bastian said.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/07/39870321/tesla-ceo-elon-musk-blasts-satya-nadella-after-microsoft-crowdstrike-issue-takes-down-millions-of-co?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla CEO Elon Musk Blasts Satya Nadella After Microsoft-CrowdStrike Issue Takes Down Millions Of Computers Globally: &#8216;This Gave A Seizure To The Automotive Supply Chain&#8217;</a>
Major airlines, including&nbsp;United Airlines&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) and&nbsp;American Airlines&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>), have reported service restoration, but further delays and disruptions are expected, the report noted.
Delta has suspended&nbsp;unaccompanied minor travel until Wednesday&nbsp;due to the outage.&nbsp;The U.S. Department of Transportation&nbsp;has deemed the flight delays and cancellations &#8220;controllable&#8221; and &#8220;attributable to the airline,&#8221; requiring airlines to&nbsp;adhere to their customer service&nbsp;commitments.
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 tech outage, caused by&nbsp;a flawed software update for&nbsp;Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Windows operating systems issued&nbsp;by CrowdStrike,&nbsp;affected an <a href="https://www.benzinga.com/news/24/07/39873706/crowdstrike-outage-impacted-less-than-1-of-windows-devices-but-still-managed-to-wreak-havoc-report">estimated 8.5 million&nbsp;devices worldwide</a>.
The issue disrupted services across various sectors, including&nbsp;businesses, government agencies, health and&nbsp;emergency services, banks, schools, and universities.
Despite CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) CEO George Kurtz&#8217;s apology and assurance of a deployed fix, experts predict a lengthy recovery process. 
This incident has resulted in a significant decline in CrowdStrike&#8217;s stock price and has been <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39858714/crowdstrike-shares-trim-heavy-losses-as-microsoft-announces-resolution-of-global-te">deemed a &#8220;major black eye&#8221;</a> for the cybersecurity firm.
Photo Courtesy: Shutterstock.com
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>.
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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.

Media

Crowdstrike Update For Microsoft Windows Continues To Cause Chaos, Thousands of US Flights Canceled For Third Straight Day

Presidential candidate Robert F. Kennedy Jr. has expressed his views on the Democratic party&#8217;s strategy to keep former President Donald Trump out of office, suggesting a return to their core values.
What Happened: On Tuesday, Kennedy shared a tweet hinting at the Democrats&#8217; need to revisit their fundamental principles if they truly wish to prevent Trump from returning to the presidency. This comes in the wake of President Joe Biden&#8217;s decision <a href="https://www.benzinga.com/news/24/07/39874197/who-could-possibly-succeed-biden-following-his-exit-from-the-presidential-race-here-are-7-names-to-l">not to seek re-election</a>.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If the Democrats REALLY want to keep President Trump out of office&#8230;. But that would only happen if they returned to their core values. <a href="https://t.co/534IcvZNxh">https://t.co/534IcvZNxh</a>
&mdash; Robert F. Kennedy Jr (@RobertKennedyJr) <a href="https://twitter.com/RobertKennedyJr/status/1815173715618865426?ref_src=twsrc%5Etfw">July 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">Kennedy shared a tweet from the journalist Paul Bond, who stated that few were conducting head-to-head polls beyond Biden vs. Trump, but that was about to change. He noted that a rare Zogby poll from 10 days ago showed Trump at 51% versus Kamala Harris at 49%, and RFK Jr. at 57% versus Trump at 43%. He mentioned that head-to-head polls featuring Trump against Gavin Newsom, Gretchen Whitmer, and others were still to come. See Also: <a href="https://www.benzinga.com/news/24/07/39854007/trump-says-he-will-end-the-electric-vehicle-mandate-on-day-one-days-after-tesla-ceo-elon-musks-endor?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Says He Will &#8216;End The Electric Vehicle Mandate On Day One&#8217; Days After Tesla CEO Elon Musk&#8217;s Endorsement, Says UAW Chief Should Be &#8216;Fired Immediately&#8217;</a></figcaption></figure>
Why It Matters: Kennedy&#8217;s tweet comes at a time when his own campaign is facing <a href="https://www.benzinga.com/markets/equities/24/07/39871966/kennedys-campaign-still-in-the-red-despite-running-mate-shanahans-2-5m-boost-will-he-exit-the-pr">financial hurdles</a>, despite a $2.5 million boost from running mate Nicole Shanahan.
Notably, Newsom publicly endorsed Vice President Kamala Harris for the upcoming presidential race, praising her as "tough," "fearless," and "tenacious." Despite President Biden's endorsement, other notable figures like Nancy Pelosi and Hakeem Jeffries had not yet endorsed Harris.
Meanwhile, Trump was <a href="https://www.benzinga.com/general/politics/24/07/39874123/trump-goes-in-full-attack-mode-after-biden-drops-out-of-race-says-president-is-certainly-not-fit">quick to attack</a> Biden following his decision, stating that Biden &#8220;was not fit to run for President, and is certainly not fit to serve.&#8221;
Photo 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>

Robert Kennedy Jr. Has Advice For Democrats If They Want To Keep Trump Out Of Office After Biden Drops Out: 'Would Only Happen If…'

The odds of President Joe Biden finishing his tenure dropped dramatically on a cryptocurrency-based prediction market as the 81-year-old <a href="https://www.benzinga.com/general/politics/24/07/39874057/biden-drops-out-of-2024-race-in-bombshell-announcement-it-has-been-the-greatest-honor-of-my-life">announced withdrawal from the 2024 presidential race</a>.
What Happened: Polymarket, touted as the world's largest prediction market, <a href="https://polymarket.com/event/will-biden-complete-his-term-as-president?tid=1721609212850">saw </a>odds of Biden completing the rest of his term dip from 75% to 68% in the last 24 hours.
The odds were stacked in Biden's favor until June 27, with over 90% chance of finishing the tenure. However, the <a href="https://www.benzinga.com/news/24/07/39655190/biden-vs-trump-debate-performance-hurts-president-but-this-factor-could-still-keep-him-in-contention">below-par performance by the incumbent</a> during the debate, caused cryptocurrency bettors to go the other way.
Meanwhile, despite Biden's endorsement of Vice President Kamala Harris as the Democratic nominee, the odds of Republican challenger Donald Trump winning the elections remained broadly unchanged in the last 24 hours at 64%.
At the time of writing, Harris' odds of victory stood at 30%.
Launched in 2020, Polymarket is a decentralized prediction market that allows users to bet on major global events using cryptocurrencies. The platform has rapidly emerged as one of the world's top prediction markets for U.S. elections. However, it currently does not allow users based in the U.S. to place trades based on its predictions.
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/24/07/39871849/analyst-predicts-bitcoin-to-soar-by-83-but-theres-one-major-catch-were-going-to-get-that-c">Analyst Predicts Bitcoin To Soar By 83%, But There&#8217;s One Major Catch: &#8216;We&#8217;re Going To Get That Continuation As Long As &#8230;&#8217;</a>
Why It Matters: Biden's decision follows weeks of speculation <a href="https://www.benzinga.com/24/07/39829417/biden-gets-covid-19-takes-a-fiesty-dig-at-tesla-ceo-im-sick-of-elon-musk-and-his-rich-buddies-trying">about his health</a> and the capacity to campaign effectively against Trump. A poor performance at the presidential debate brought these concerns to the forefront of political conversation.
Cryptocurrency bettors have been betting against Biden for quite some time, and even before the formal announcement, the odds of him pulling out of the race soared.
Donald Trump's candidacy, to the contrary, has gained support from cryptocurrency enthusiasts due to his newfound interest in the asset class, <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39239552/trump-declares-himself-crypto-president-after-raising-12m-at-vc-hosted-san-francisco-fundr">even positioning himself as the "crypto president."</a>
Price Action: At the time of writing, the coin themed around Joe Biden, JEO BODEN (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BODEN</a>) was trading at $0.008428, following a free fall of 60% in the last 24 hours, according to<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.."> data from Benzinga Pro</a>.
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$BODEN

Biden's Odds Of Finishing Term Drop Sharply On Crypto Prediction Market, Coin Themed After President Bleeds 60%

Former President Donald Trump questioned President Joe Biden&#8217;s withdrawal from the 2024 presidential race, suggesting the Republican Party should be compensated for the sudden change.
What Happened: On Sunday, Trump expressed his views on Truth Social, following Biden&#8217;s unexpected decision to withdraw from the presidential race. Truth Social is majorly owned by the ex-president&#8217;s company Trump Media &amp; Technology Group Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>).
Trump accused a wide range of people of fraud, including his successor, and asked for compensation for the Republican Party.
&#8220;Now we have to start all over again. Shouldn't the Republican Party be reimbursed for fraud in that everybody around Joe, including his doctors and the Fake News Media, knew he was not capable of running for, or being, President?&#8221;
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="603" height="295" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/21205833/Screenshot-2024-07-22-at-09.58.12.png" alt="" class="wp-image-447604" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/21205833/Screenshot-2024-07-22-at-09.58.12.png 603w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/21205833/Screenshot-2024-07-22-at-09.58.12-300x147.png 300w" sizes="(max-width: 603px) 100vw, 603px" /></figure>
Screenshot From Truth Social Account Of Donald Trump
Trump&#8217;s comments came after Biden announced his decision to step down from the race, stating it was in the best interest of his party and the country. Biden endorsed Vice President Kamala Harris as the <a href="https://www.benzinga.com/news/24/07/39874088/biden-backs-harris-for-democratic-nominee-after-bowing-out-of-2024-race-i-want-to-offer-my-full-supp">Democratic nominee</a>, expressing his full support for her.
See Also: <a href="https://www.benzinga.com/markets/equities/24/07/39870083/black-swan-investor-says-greatest-bubble-in-human-history-is-on-the-verge-of-bursting-calls-stoc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Black-Swan Investor Says &#8216;Greatest Bubble In Human History&#8217; Is On The Verge Of Bursting, Calls Stocks &#8216;Mega-Tinderbox-Time Bomb&#8217;</a>
Why It Matters: Biden&#8217;s withdrawal from the race has stirred up the political landscape. His decision followed growing pressure from colleagues in the Democratic party and big-name fundraisers. Biden, who had been recovering from COVID-19, stated he would focus solely on fulfilling his duties as President for the remainder of his term.
Trump&#8217;s comments reflect his <a href="https://www.benzinga.com/general/politics/24/07/39874123/trump-goes-in-full-attack-mode-after-biden-drops-out-of-race-says-president-is-certainly-not-fit">ongoing criticism</a> of Biden&#8217;s presidency. He has previously denounced Biden on his platform, stating that Biden &#8220;only attained the position of President by lies, Fake News, and not leaving his Basement.&#8221;
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>

Trump Wants Republicans Reimbursed After Biden Quits: 'We Have To Start All Over Again'

Gavin Newsom, the Governor of California, has publicly endorsed Vice President Kamala Harris for the upcoming presidential race.
What Happened: Newsom voiced his support for Harris on social media, praising her as &#8220;tough&#8221;, &#8220;fearless&#8221;, and &#8220;tenacious&#8221;. He further emphasized that Harris is the ideal candidate to counter Donald Trump&#8217;s vision and steer the country toward a brighter future, <a href="https://thehill.com/elections/4785106-newsom-backs-harris-no-one-better-to-prosecute-case-against-trump/">reported</a> The Hill.
Harris, a former U.S. Senator from California, is seen as the party&#8217;s top choice to succeed President Biden, who recently announced he would not seek the party&#8217;s nomination at the forthcoming convention. While some Democrats are advocating for an open convention, many have immediately backed Harris, viewing her as the natural successor given her current role as Vice President.
Despite President Biden endorsing Harris&#8217;s bid, notable figures such as former House Speaker Nancy Pelosi (D-Calif) and House Minority Leader Hakeem Jeffries (D-N.Y.) have yet to do so. Newsom, a staunch Biden supporter, has previously stated he would not run for president if Biden were to exit the race.
See Also: <a href="https://www.benzinga.com/news/24/07/39852186/marco-rubio-says-if-biden-drops-out-of-race-he-should-quit-as-president-as-well-theyve-got-to-remove?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Marco Rubio Says If Biden Drops Out Of Race He Should Quit As President As Well: &#8216;They&#8217;ve Got To Remove Him&#8217;</a>
Why It Matters: The endorsement comes in the wake of President Biden&#8217;s <a href="https://www.benzinga.com/markets/cannabis/24/07/39874209/joe-biden-drops-out-what-would-happen-with-cannabis-legalization-under-kamala-harris-or-donald-t">decision to withdraw</a> from the presidential race. Biden&#8217;s decision followed increased pressure from colleagues in the Democratic party and significant fundraisers.
Following Biden&#8217;s announcement, former President Trump launched an attack on Biden. Trump criticized Biden&#8217;s fitness to serve as President and blamed him for the current state of the country.
A <a href="https://www.benzinga.com/news/24/07/39858552/majority-of-democrats-view-kamala-harris-as-a-strong-presidential-contender-poll">recent poll</a> suggested that a majority of Democrats view Harris as a suitable presidential candidate. The poll revealed that approximately 60% of Democrats believe Harris would excel in the presidential role.
With Biden&#8217;s exit, <a href="https://www.benzinga.com/news/24/07/39874197/who-could-possibly-succeed-biden-following-his-exit-from-the-presidential-race-here-are-7-names-to-l">the search</a> for a new Democratic candidate for the next presidential election has begun, as reported by Benzinga. Biden&#8217;s decision follows a less-than-stellar debate performance and increasing concerns within the Democratic party about his capacity to serve another term.
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>

Gavin Newsom Backs Kamala Harris, Calls VP Tough, Fearless And Tenacious: 'The Ideal Candidate To Counter Donald Trump'

XPeng Inc. (the &ldquo;Company&rdquo; or &ldquo;XPENG&rdquo;) and the Volkswagen Group are pleased to announce today that, further to XPENG&rsquo;s announcement dated April 17, 2024 (the &ldquo;Announcement&rdquo;) in connection with the framework agreement on technical collaboration with respect to electrical/electronic architecture (&ldquo;E/E Architecture&rdquo;), XPENG and the Volkswagen Group have entered into a Master Agreement on E/E Collaboration (&ldquo;Master Agreement&rdquo;) which solidifies both parties&rsquo; commitment to jointly develop industry-leading E/E Architecture for all locally produced vehicles based on Volkswagen&rsquo;s China Main Platform (CMP) and Modular Electric Drive Matrix (MEB) platform. The execution of the Master Agreement not only signifies the expeditious joint development of E/E Architecture in China by the parties but also paves the way for potential expansion of collaboration on E/E Architecture. Under the E/E Architecture technical collaboration, XPENG and the Volkswagen Group have established Project House in Guangzhou and Hefei for engineers from both parties to work closely together and accelerate the development process for E/E Architecture. Such close technical collaboration through Project House enables the first vehicle equipped with the jointly developed E/E Architecture to SOP (Start of Production) within approximately 24 months, demonstrating extensive trust and commitment throughout the strategic partnership of Volkswagen Group and XPENG.

VLKAF

XPeng Announced Master Agreement On E/E Architecture Technical Collaboration With Volkswagen Group

https://www.reuters.com/world/us/all-50-democratic-party-us-state-chairs-back-harris-sources-2024-07-21/#:~:text=WASHINGTON%2C%20July%2021%20(Reuters),sources%20familiar%20with%20the%20matter.

Reuters Reported Earlier, All 50 Democratic Party US State Chairs Back Harris As Presidential Nominee

At a rally in Michigan on Saturday, former President Donald Trump distanced himself from the contentious Project 2025, <a href="https://www.benzinga.com/news/24/07/39761579/biden-vs-trump-latest-poll-reveals-surprise-following-presidents-widely-criticized-debate-performanc">describing it as &#8220;far-right&#8221; and &#8220;extreme.&#8221;</a>
What Happened: Trump addressed a crowd of supporters at a Michigan MAGA rally, where he was joined by his running mate, Senator JD Vance.
During his <a href="https://www.youtube.com/watch?v=sW3gsa0OXd0">speech</a>, Trump mentioned Project 2025, a supposed &#8220;governing agenda&#8221; devised by a number of right-wing groups, including some former Trump White House officials.
Democrats have claimed that the aim of these documents is to restore executive power to Trump, should he win in future elections. The project&#8217;s objectives are said to include the reclassification of tens of thousands of federal civil service workers as political appointees.
Despite this, Trump&#8217;s campaign has consistently denied any association with the initiative. At the rally, Trump reiterated this position, informing his supporters that he doesn&#8217;t &#8220;know what the hell&#8221; Project 2025 is. He characterized it as a product of the &#8220;severe right&#8221; and labeled some of its proposals as &#8220;seriously extreme,&#8221; as reported <a href="https://www.mediaite.com/trump/dont-know-what-the-hell-it-is-trump-pleads-ignorance-on-severe-right-project-2025-dont-know-anything-about-it/">by</a> Mediaite.
Also Read: <a href="https://www.benzinga.com/news/24/07/39872154/trump-vs-biden-latest-round-of-polls-all-seem-to-suggest-grim-news-for-this-candidate">Trump Vs. Biden: Latest Rounds Of Polls All Seem To Suggest Grim News For This Candidate</a>
&#8220;Some on the right, severe right, came up with this Project 25 and I don't even know. I mean, some of them I know who they are, but they're very very conservative. Just like you have this sort of the opposite of the radical left. Okay? You have the radical left and you have the radical right, and they come up with this,&#8221; Trump said. 
He also said, &#8220;I don't know what the hell it is. It's Project 25. He's involved in Project 25. And then they read some of the things that they are extreme, that seriously extreme. But I don't know anything about it. I don't want to know anything about it.&#8221;
Trump defended himself against accusations of extremism and threats to democracy, declaring, &#8220;I took a bullet for democracy!&#8221;
Why It Matters: The disassociation of Trump from Project 2025 is significant in the current political landscape. The project has been a point of contention among various political factions, with Democrats viewing it as a potential threat to democracy. 
Trump&#8217;s denial of any involvement with the project may be an attempt to distance himself from the more extreme elements of his support base, while also defending his record on democratic values. 
This move could potentially impact his political standing and influence within the Republican party and among his supporters.
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This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock