Latest news for Plurilock Security (OTC:PLCKF) Stock

Plurilock Security Inc is an identity-centric cybersecurity company that reduces or eliminates the need for passwords by measuring the pace, rhythm, and cadence of a user's keystrokes to confirm their identity. It has two operating segments, the Technology Division and the Solutions Division. The Technology division, operated under the legacy Plurilock brand, builds and operates Plurilock's own proprietary products. The Solutions division offers ASC's and INC's services and resells cybersecurity industry products and technologies to meet customer needs.

Plurilock Security Inc

Barclays analyst Dan Levy maintains Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) with a Equal-Weight and raises the price target from $180 to $225.

News

Price Target

Analyst Ratings

TSLA

Barclays Maintains Equal-Weight on Tesla, Raises Price Target to $225

SL Green Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLG#NYSE">SLG</a>) reported quarterly losses of $(0.04) per share which beat the analyst consensus estimate of $(0.13) by 69.23 percent. The company reported quarterly sales of $222.82 million which beat the analyst consensus estimate of $149.28 million by 49.26 percent. This is a 34.51 percent increase over sales of $165.65 million the same period last year.

Earnings

Earnings Beats

SL Green Realty Q2 2024 Adj EPS $(0.04) Beats $(0.13) Estimate, Sales $222.82M Beat $149.28M Estimate

First Industrial Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FR#NYSE">FR</a>) reported quarterly earnings of $0.66 per share which beat the analyst consensus estimate of $0.64 by 3.13 percent. This is a 8.2 percent increase over earnings of $0.61 per share from the same period last year. The company reported quarterly sales of $164.136 million which missed the analyst consensus estimate of $164.580 million by 0.27 percent. This is a 7.83 percent increase over sales of $152.223 million the same period last year.

Earnings Misses

First Industrial Realty Q2 2024 FFO $0.66 Beats $0.64 Estimate, Sales $164.136M Miss $164.580M Estimate

Discover Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>) reported quarterly earnings of $6.06 per share which beat the analyst consensus estimate of $3.07 by 97.39 percent.

Discover Finl Q2 2024 GAAP EPS $6.06 vs $3.07 Estimate, Net Interest Income $3.524B

Venture capital has long been the oxygen that fuels the growth of start-ups, yet it comes with its own share of drawbacks, primarily in the form of equity dilution. Founders find themselves giving up more control with each funding round and progressively distancing themselves from the very companies they brought to life. Here lies the paradox in modern startup financing: despite the availability of venture debt&mdash;a less dilutive alternative&mdash;many companies hesitate to leverage it. This is influenced by antiquated biases and a deep-seated aversion to debt. And this unfounded fear, steeped in historical precedents and cultural narratives, needs to be acknowledged and reevaluated.&nbsp;
Debt, in its essence, is often viewed through a prism of skepticism and fear. This perspective is not new. Historical texts and teachings, such as those found in the Bible, have long warned against the perils of debt. Proverbs 22:26-27 advises against becoming &ldquo;one of those who enter agreements, who put up security for loans,&rdquo; cautioning that failure to repay can lead to dire consequences. While these admonitions were apt in an era when financial systems were rudimentary and punitive, they are less relevant in today&rsquo;s sophisticated economic environments. Yet, these ancient warnings continue to color the perceptions of debt in the modern corporate psyche&mdash;discouraging its use even when it could serve a beneficial purpose.
Venture debt is designed to complement venture capital as a strategic instrument to minimize equity dilution, especially for companies that possess a clear path to profitability. It allows founders to retain more control over their company while still securing the necessary capital to grow. Despite this, the startup ecosystem remains wary, and the roots of this wariness lie not only in historical prejudices but also in a lack of understanding of venture debt&rsquo;s potential benefits and its operational mechanics.
The reluctance to embrace venture debt is particularly perplexing given its advantages. It is typically structured with the unique needs of the company in mind, and it does not necessitate the surrender of board seats or the relinquishing of significant control over strategic decisions&mdash;a critical consideration for founders who wish to steer their venture&rsquo;s direction.
The bias against venture debt often reflects a broader hesitancy towards any form of debt, fueled by high-profile failures and bankruptcy tales that captivate public attention much more than narratives of prudent debt management and success. However, such views overlook the myriad successful ventures that have harnessed debt judiciously to navigate growth phases while safeguarding founder control and stakeholder value. In these cases, debt was most appropriate (and useful) for only the strongest companies with clear paths to profitability or exit.
The collapse of Silicon Valley Bank (SVB) provides a key example in this light. When it failed in March 2023, it not only impacted the startup ecosystem&rsquo;s bank accounts but also severely <a href="https://techcrunch.com/2023/06/02/private-lenders-venture-debt-svb/">diminished the credibility of venture debt</a> among those unfamiliar with the bank&rsquo;s lending practices. In short, SVB was the preeminent bank that provided credit to really early-stage companies based on their venture capital sponsors rather than their business metrics or fundamentals. This approach made their loans inherently risky (compared to late-stage loans), as these companies often lacked the typical metrics or collateral required for underwriting. Nonetheless, the spotlight of SVB&rsquo;s collapse led many to believe that all players in the venture debt community issued similar high-risk loans despite the truth being the opposite of SVB&rsquo;s model.
What is needed today is a cultural shift within the startup community towards a more nuanced understanding of financial instruments, especially venture debt, and education as well as successful case studies can play pivotal roles in this transformation. Founders must also critically assess their financing strategies and weigh the long-term risks of equity dilution against the potential benefits of venture debt. By highlighting examples where venture debt has enabled startups to thrive without the heavy cost of equity dilution, the industry can begin to dismantle outdated perceptions.
Overall, the startup community must awaken to the reality that unconscious biases extend into financial instruments and capital raising practices. Embracing venture debt could well be the key to a new era of startup financing where founders maintain greater control and companies are unburdened by the heavy yoke of unnecessary dilution.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Startups

General

The Unwarranted Fear Of Venture Debt: Dispelling Unconscious Biases In Startup Financing

CHUY

Trading Halt: Halt status updated at 4:25:00 PM ET: Quotation Resumption: News and Resumption Times

Cohen &amp; Steers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNS#NYSE">CNS</a>) reported quarterly earnings of $0.70 per share which beat the analyst consensus estimate of $0.67 by 4.48 percent. This is unchanged from the same period last year. The company reported quarterly sales of $122.70 million which beat the analyst consensus estimate of $121.48 million by 1.00 percent. This is a 1.72 percent increase over sales of $120.63 million the same period last year.

Cohen & Steers Q2 EPS $0.70 Beats $0.67 Estimate, Sales $122.70M Beat $121.48M Estimate

JP Morgan analyst Alexei Gogolev maintains AppFolio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APPF#NASDAQ">APPF</a>) with a Overweight and raises the price target from $260 to $328.

APPF

JP Morgan Maintains Overweight on AppFolio, Raises Price Target to $328

The Biden administration&#8217;s escalating restrictions on China&#8217;s access to <a href="https://www.benzinga.com/news/24/07/39824702/ai-infrastructure-ceo-says-customers-are-showing-relentless-demand-for-nvidia-chips-and-nvidia-chips">high-end semiconductors</a> and technology, along with the potential for higher tariffs under future administrations, have stirred significant concern among investors.
However, amid the broad headwinds facing many companies, JPMorgan analyst Samik Chatterjee has identified a select group of tech stocks that could stand to benefit from these geopolitical tensions.
<h3 class="wp-block-heading">1. Flex Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLEX#NASDAQ">FLEX</a>)</h3>
Flex is strategically positioned to benefit from the changing geopolitical landscape, Chatterjee notes. 
With heightened restrictions on China, Flex&#8217;s extensive manufacturing capabilities outside China become increasingly valuable. This allows Flex to attract business from companies seeking to mitigate risks associated with China&#8217;s regulatory uncertainties. 
Chatterjee sees Flex as a key player poised to leverage these global supply chain shifts.
Read Also: <a href="https://www.benzinga.com/government/24/07/39816230/whats-going-on-with-nvidia-amd-and-semiconductor-peer-stocks-on-wednesday">What&#8217;s Going On With Nvidia, AMD And More Semiconductor Stocks Wednesday?</a>
<h3 class="wp-block-heading">2. Jabil Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>)</h3>
JPMorgan's Chatterjee also identifies Jabil as a significant beneficiary of the current environment. As an Electronic Manufacturing Services (EMS) provider with diversified manufacturing locations, Jabil is well-placed to capitalize on clients&#8217; efforts to move production away from China. 
This strategic advantage positions Jabil favorably in the context of the U.S.'s tougher stance on China.
<h3 class="wp-block-heading">3. Ciena Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIEN#NYSE">CIEN</a>)</h3>
In the realm of networking technology, Chatterjee points to Ciena as a likely beneficiary. The analyst notes that restrictions on China&#8217;s access to high-end chips could hinder the capabilities of China-based Network Equipment Manufacturers (NEMs). 
This scenario presents an opportunity for companies like Ciena, which boasts differentiated intellectual property and advanced networking solutions, to capture market share.
<h3 class="wp-block-heading">4. Arista Networks Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>)</h3>
Arista Networks is another company Chatterjee highlights as benefiting from the U.S. crackdown. 
With its cutting-edge networking technology, Arista stands to gain as Chinese NEMs struggle with restricted access to essential components. 
Chatterjee anticipates increased demand for Arista's solutions as companies seek alternatives to maintain competitive networking infrastructure.
<h3 class="wp-block-heading">5. Cisco Systems Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>)</h3>
Finally, Cisco Systems emerges as a potential winner in Chatterjee's analysis. 
As a leader in networking technology, Cisco is well-positioned to benefit from the restrictions affecting Chinese manufacturers. 
Chatterjee expects Cisco to see enhanced market opportunities due to its robust portfolio of networking equipment and services, which can serve as viable alternatives for restricted Chinese competitors.
While the U.S. administration&#8217;s increasing restrictions on China present challenges for many companies, Flex, Jabil, Ciena, Arista Networks, and Cisco Systems are well-positioned to navigate these changes and potentially benefit from the evolving geopolitical landscape. 
As investors monitor the implications of these restrictions, these tech stocks stand out as promising opportunities in a complex regulatory environment.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39821315/ai-earthquake-semiconductors-suffer-worst-selloff-in-years-on-stricter-us-chip-expo">AI Earthquake: Semiconductors Suffer Worst Selloff In Years On Stricter US Chip Exports To China</a></li>
</ul>
Photo: Shutterstock

Analyst Color

Long Ideas

Tech

Trading Ideas

ANET

CIEN

CSCO

FLEX

5 Tech Stocks Set To Gain From US Chip Crackdown On China: JPMorgan

United Airlines Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) reported second-quarter financial results Wednesday after the bell. Here&#8217;s a look at the <a href="https://www.benzinga.com/quote/UAL">key metrics from the quarter</a>.
Q2 Earnings: United Airlines reported second-quarter revenue of $14.986 billion, missing the&nbsp;<a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">consensus estimate</a>&nbsp;of $15.096 billion, according to&nbsp;<a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>. The airline company reported adjusted quarterly earnings of $4.14 per share, beating analyst estimates of $3.95 per share.
United said capacity was up 8.3% on a year-over-year basis. TRASM (total revenue per available seat mile) was down 2.4% and CASM (cost per available seat mile) was down 4.8%.
United ended the quarter with $18.2 billion in total liquidity and $26.6 billion in total debt and finance lease obligations.
&#8220;The revenue diversity advantages that we&#8217;ve built with our premium customers, Basic Economy customers, and domestic road warriors, on top of the world&#8217;s best loyalty program and leading customer service, have propelled our margins to near the top of the industry,&#8221; said&nbsp;Scott Kirby, CEO of United Airlines.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39823332/nasdaq-100-suffers-worst-day-in-11-months-as-chipmakers-tumble-on-china-curbs-magnificent-">Nasdaq 100 Suffers Worst Day In 11 Months As Chipmakers Tumble On China Curbs; Magnificent 7 Wipe Out $500B : What&#8217;s Driving Markets Wednesday?</a>
Outlook: United Airlines reiterated expectations for full-year 2024 adjusted earnings of $9 to $11 per share versus estimates of $10.04 per share.
&#8220;Looking forward, we see multiple airlines have begun to cancel loss-making capacity, and we expect leading unit revenue performance among our largest peers in the second half of the third quarter. United has long been preparing for the moment when industry wide domestic capacity would adjust — it&#8217;s now clear that inflection point is just 30 days away,&#8221; Kirby said.
Management will hold a conference call to discuss its quarterly results Thursday morning at 10:30 a.m. ET.
United Airlines shares dropped about 6% last week after Delta Air Lines Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) fell on <a href="https://www.benzinga.com/news/earnings/24/07/39726801/delta-air-lines-q2-earnings-eps-miss-revenue-beat-underwhelming-q3-eps-outlook-and-more" target="_blank" rel="noreferrer noopener">second-quarter earnings</a>. Delta&#8217;s guidance came up short of analyst estimates as rising costs and increased capacity weighed on profitability. That move may be taking some of the sting out of United&#8217;s top-line miss Wednesday.
UAL Price Action: <a href="https://www.benzinga.com/quote/UAL" target="_blank" rel="noreferrer noopener">United Airlines shares</a> were down 0.94% in after hours, trading at $46.50at the time of publication, according to <a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/technicals/24/07/39824201/stock-of-the-day-johnson-johnson-hits-crucial-roadblock-can-it-break-through">Stock Of The Day: Johnson &amp; Johnson Hits Crucial Roadblock — Can It Break Through?</a></li>
</ul>
Photo: Shutterstock.

Travel

Movers

United Airlines Q2 Earnings: Revenue Miss, EPS Beat, Guidance Unchanged And More

Old Second Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OSBC#NASDAQ">OSBC</a>) reported &nbsp;reported quarterly sales of $70.817 million which beat the analyst consensus estimate of $69.805 million by 1.45 percent. This is a 1.37 percent decrease over sales of $71.803 million the same period last year.

OSBC

Old Second Bancorp Q2 2024 Sales $70.817M Beat $69.805M Estimate

Village Super Market, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VLGEA#NASDAQ">VLGEA</a>), is deeply saddened to announce the passing of William P. Sumas (Bill), Chairman of the Board, member and key leader in the Wakefern Food Corp. (Wakefern) cooperative and the supermarket industry. &nbsp;
Mr. Sumas, 77, passed peacefully surrounded by loved ones on Thursday, July 11, 2024. Mr. Sumas joined Village in 1960 and served as Chairman of the Board since 2017. He was also the longest serving Chairman of the Board of the New Jersey Food Council from 2000-2007.
Robert Sumas, Chief Executive Officer and Vice Chairman of the Board of Directors, will be the interim Chairman of the Board until the Board meets to appoint a new Chair.

Management

VLGEA

Village Super Market Announces The Passing Of Its Chairman Of The Board William Perry Sumas; Robert Sumas, Chief Executive Officer And Vice Chairman Of The Board Of Directors, Will Be The Interim Chairman Of The Board Until The Board Meets To Appoint A New Chair

JP Morgan analyst Matthew Boss maintains Five Below (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>) with a Neutral and lowers the price target from $122 to $87.

FIVE

JP Morgan Maintains Neutral on Five Below, Lowers Price Target to $87

SL Green Realty Signs 66,014 Sq. Ft. Of Retail Leases Since Q1 2024, Achieves Full Retail Occupancy At One Madison Avenue

Cryptocurrency markets are trading slightly down despite Bitcoin ETF inflows peaking at a <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39812358/bitcoin-tags-66k-etfs-slurp-another-423m-in-inflows-how-high-can-btc-go">one-month high</a>.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price</td>
<td>Gains +/-</td>
</tr>
<tr>
<td>Bitcoin&nbsp;</td>
<td>$64,567.4</td>
<td>-0.88%</td>
</tr>
<tr>
<td>Ethereum&nbsp;</td>
<td>$3,424.6</td>
<td>-1.6%</td>
</tr>
<tr>
<td>Solana&nbsp;</td>
<td>$157.3</td>
<td>-3.2%</td>
</tr>
<tr>
<td>Dogecoin</td>
<td>$0.123</td>
<td>-2.2%</td>
</tr>
<tr>
<td>Shiba Inu&nbsp;</td>
<td>$0.00001878</td>
<td>-3.7%</td>
</tr>
</tbody>
</table>
</figure>
Notable Statistics:
<ul>
<li>IntoTheBlock data shows large transaction volume increasing by 22.3% and transactions greater than $100,000 rising from 8,516 transactions as of July 15 to 8,842 as of July 16. However, exchange netflows narrowed by 244.5%.</li>
<li>Coinglass data revealed 50,913 traders were liquidated in the past 24 hours, with total crypto liquidations at $155.7 million.</li>
<li>Coinbureau CEO and co-founder Nic highlighted that Bitcoin ETF inflows were $422 million on July 16. This <a href="https://x.com/nicrypto/status/1813467896598716657">marked</a> the largest inflow in over a month.</li>
<li>Ki Young Ju <a href="https://x.com/ki_young_ju/status/1813628483160977763">revealed</a> Bitcoin whale wallets, including spot ETFs and custodial wallets, added 1.45 million BTC in 2024 taking the total to 1.8 million BTC. Every week, 100,000 BTC flows in compared to 70,000 BTC in 2021.</li>
</ul>
Notable Developments:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39819694/infstones-unveils-node-as-a-service-product-for-depin-development">InfStones Unveils Node-As-A-Service Product For DePIN Development</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39822610/sec-commissioner-peirce-opens-door-for-ethereum-etf-staking">SEC Commissioner Peirce Opens Door For Ethereum ETF Staking</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39814765/direxion-launches-two-new-crypto-etfs-one-for-bulls-one-for-bears">Direxion Launches Two New Crypto ETFs: One For Bulls, One For Bears</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39807242/donald-trump-plans-launch-of-fourth-nft-collection-im-going-to-do-another-one-because-the-">Donald Trump Plans Launch Of Fourth NFT Collection: &#8216;I&#8217;m Going To Do Another One Because The People Want Me To Do Another One&#8217;</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39823596/bitwise-cio-matt-hougan-ethereum-to-5-000-in-2024-and-15b-in-etf-inflows">Bitwise CIO Matt Hougan: Ethereum To $5,000 In 2024 And $15B In ETF Inflows</a></li>
</ul>
<h3 class="wp-block-heading">Top Gainers:</h3>
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price</td>
<td>Gains +/–</td>
</tr>
<tr>
<td>Worldcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WLD</a>)</td>
<td>$3.04</td>
<td>+9.1%</td>
</tr>
<tr>
<td>Injective (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/inj/usd">INJ</a>)</td>
<td>$26.6</td>
<td>+9.1%</td>
</tr>
<tr>
<td>Helium (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/hnt/usd">HNT</a>)</td>
<td>$4.2</td>
<td>+8.4%</td>
</tr>
</tbody>
</table>
</figure>
Trader Notes: Altcoin Sherpa in his latest tweet <a href="https://x.com/AltcoinSherpa/status/1813543830001758528">noted</a> three different Bitcoin scenarios: a dump to $63,000 and $60,000 will return the pump while a dump to $60,000 with some bounces will lead to "die." &nbsp;However, he is hopeful of breaking the current level and reaching $70,000.
Crypto trader Rekt Capital highlighted Bitcoin's current support and retest levels, predicting a similar retest to confirm a break back into the $65,000-$71,500 region.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> Bitcoin is not quite ready just yet for a successful retest of the ~$65,000 level as new support Bitcoin will need a similar retest like in the not-so-distant past (blue circle) to confirm a break back into the $65,000-$71,500 region<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$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/Ct0P7qzTmS">https://t.co/Ct0P7qzTmS</a> <a href="https://t.co/HylRSusUTG">pic.twitter.com/HylRSusUTG</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1813633249627050288?ref_src=twsrc%5Etfw">July 17, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Crypto trader Eugene Ng Ah Sio <a href="https://x.com/0xENAS/status/1813648171429671382">noted</a> that Bitcoin above $60,000 will keep the bull market intact, but the situation could turn ugly if it drops below that level. What&#8217;s Next: The influence of <a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment" target="_blank" rel="noreferrer noopener">Bitcoin as an institutional asset class</a> is expected to be thoroughly explored at Benzinga&#8217;s upcoming <a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a> event on Nov. 19. Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39821600/trump-bitcoin-ethereum-etfs-tokenization-traders-reasons-for-the-most-bullish-crypto-setup">Trump, Bitcoin, Ethereum ETFs, Tokenization: Trader&#8217;s Reasons For The &#8216;Most Bullish Crypto Setup&#8217;</a></li>
</ul>
Image: Shutterstock

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

Cryptocurrency

$BTC

$DOGE

$ETH

$HNT

$INJ

$SHIB

$SOL

$WLD

Bitcoin, Ethereum, Dogecoin Dip: BTC 'Not Ready' For The $65K Retest, Trader Points Out

Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) co-counder Vitalik Buterin warned his five million social media followers on Wednesday that it&#8217;s perhaps not wise to favor political parties and candidates entirely on how friendly they are <a href="https://www.benzinga.com/markets/cryptocurrency/21/09/22811912/5-things-you-might-not-know-about-ethereum-creator-vitalik-buterin-3">to the crypto sector</a>.
What Happened: With former President Donald Trump showing a change of opinion on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39801662/the-real-reason-why-donald-trump-has-pivoted-towards-crypto">and the sector</a>, some voters are making donations to his campaign solely because of his pro-crypto stance.
Buterin, however, is against "choosing your political allegiances based on who is ‘pro crypto,&#8221;.
<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">Against choosing your political allegiances based on who is &quot;pro-crypto&quot;<a href="https://t.co/rEbRjZYtFB">https://t.co/rEbRjZYtFB</a>
&mdash; vitalik.eth (@VitalikButerin) <a href="https://twitter.com/VitalikButerin/status/1813621264017207581?ref_src=twsrc%5Etfw">July 17, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
"Over the last couple of years, crypto has become an increasingly important topic in political policy, with various jurisdictions considering bills that regulate various actors doing blockchain things in various ways," Buterin <a href="https://vitalik.eth.limo/general/2024/07/17/procrypto.html">said</a>.
While Buterin said many of the bills are reasonable, there remains a fear that coins will be treated as securities or self-hosted wallets will be banned.
Buterin said there is a push to favor political parties and candidates entirely on how friendly they are to the crypto sector.
"A near-exclusive focus on cryptocurrency and blockchains is more difficult to defend, and importantly it was not the ideology that originally created crypto in the first place."
Buterin said there are foundational freedoms from crypto tokens that include privacy of communication, privacy-friendly digital identity, freedom and privacy of thought and high-quality access to information.
"Don't stand with crypto-as-in-cryptocurrency, stand with those underlying goals, and the whole set of policy implications that they imply."
Many politicians have shown opinion on the ability to trade coins, but not on the foundational freedom topics, Buterin adds. "This in turn implies a high risk that they will likely have different conclusions from you on issues that you will care about in the future."
Buterin also warns that politicians who appear pro-crypto today might not be viewed as pro-crypto in the future.
"By publicly giving the impression that you support ‘pro-crypto' candidates just because they are ‘pro-crypto,; you are helping to create an incentive gradient where politicians come to understand that all they need to get your support is to support crypto,&#8221; he said.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38952866/trump-accepts-cryptocurrency-donations-in-bitcoin-ethereum-shiba-inu-dogecoin-and-more-say">Trump Accepts Cryptocurrency Donations In Bitcoin, Ethereum, Shiba Inu, Dogecoin And More, Says MAGA Supporters &#8216;Will Build A Crypto Army&#8217;</a>
Why It's Important: Buterin's opinion post comes as more big names in business and cryptocurrency are donating to Trump's campaign. Optimism for Trump&#8217;s vice-presidential pick of J.D. Vance, who holds Bitcoin and has been viewed as pro-crypto, also hit the crypto sector ahead of the election.
Trump began accepting donations in crypto and saw a large influx of donations.
Gemini co-founders Tyler and Cameron Winklevoss <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39424615/trump-gets-2m-in-bitcoin-donations-for-2024-election-from-winklevoss-twins-the-biden-admin">each donated $1 million</a>, an amount that ended up being over the limit, to Trump.
"Over the past few years, the Biden Administration has openly declared war against crypto. It has weaponized multiple government agencies to bully, harass, and sue the good actors in our industry in an effort to destroy it," Tyler Winklevoss tweeted.
Buterin's argument appears to go against Winklevoss supporting a person who says they're pro-crypto while the other candidate is viewed as bad for the space.
"I am not going to stand by idly and let them. I'm going to continue fighting for what I know to be so right. President Donald J. Trump is the pro-Bitcoin, pro-crypto, and pro-business choice," Winklevoss added.
Winklevoss also rallied for support from the "crypto army to send a message to Washington."
Ark Invest CEO Cathie Wood <a href="https://www.benzinga.com/markets/cryptocurrency/23/08/34029277/exclusive-cathie-wood-says-bitcoin-is-key-2024-election-issue-for-young-voters">predicted to Benzinga </a>that cryptocurrency, specifically Bitcoin would become a key topic for the 2024 election.
"This is an election year issue," Wood told Benzinga.
Wood said she knows some young people who have switched their political allegiance based on politicians like Sen. Elizabeth Warren leading an anti-cryptocurrency push.
"You can't be on the wrong side of young people and win an election,&#8221; Wood said.
For years, some voters have selected their candidates in elections based on a single issue like the economy, international relations, immigration, abortion or something else. Buterin argues that cryptocurrency support shouldn't be a single issue voting item for anyone in the 2024 election.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/politics/24/04/38029359/tired-of-politics-try-degen-communism-ethereum-co-founder-vitalik-buterin-says">Tired Of Politics? Try &#8216;Degen Communism,&#8217; Ethereum Co-Founder Vitalik Buterin says</a></li>
</ul>
Image: Shutterstock

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