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Arcadia Biosciences (NASDAQ:RKDA) Stock, Option Chain

Arcadia Biosciences

Arcadia Biosciences Inc is a producer and marketer of plant-based food and beverage products. It is engaged in science-based approaches to developing high-value crop improvements in wheat, soy, and hemp, designed to enhance farm economics by improving the performance of crops in the field, as well as their value as food ingredients, health, and wellness products, and their viability for industrial applications. The company's consumer brands in the food, beverage, and body care categories include GoodWheat high-fiber pasta, Zola coconut water and others.

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Neurocrine Biosciences

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Shares of Arcadia Biosciences, Inc. (NASDAQ: RKDA) are trading higher Thursday following the company&#39;s announcement of an all-stock merger with Roosevelt Resources LP. Here&#39;s what you need to know.

Arcadia Biosciences Stock Are On The Rise Today: What&#39;s Going On?

Wall Street, New York

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Dow Falls 50 Points; Kroger Posts Downbeat Sales

Arcadia Biosciences Inc

As Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) reported better-than-expected first-quarter earnings after market close on Thursday, CEO Ryan McInerney highlighted how the company plans to bolster its partnership with Elon Musk&#8216;s newly launched X Money.
What Happened: X platform (formerly Twitter) users will soon experience the convenience of instant fund transfers between their X Money accounts and bank accounts.
CEO McInerney underscored Visa&#8217;s partnership with X during his first-quarter earnings call and said the company was &#8220;excited to partner with X Money for their much-anticipated launch of the X Money account&#8221;
When asked about the daily volumes of transactions that the new platform could expect. McInerney explained that X Money will &#8220;allow the 600 million or so active monthly users of X to fund their X Money accounts.&#8221;
This new capability is made possible through a partnership with Visa Direct, which will also enable creators on the platform to receive payments much faster, said the CEO.
McInerney emphasized the successful collaboration between its team and the X Money team in developing these new features. Looking ahead, they expressed excitement about further expanding the platform&#8217;s functionality and the number of use cases it supports.
See Also: <a href="https://www.benzinga.com/news/earnings/25/01/43355517/visa-shares-rise-on-solid-q1-results-details">Visa Shares Rise On Solid Q1 Results: Details </a>
Why It Matters: Visa Direct, a payment service offered by the company, is a network that allows for real-time money transfers between accounts and Visa cards. The platform is used for both personal and business purposes.
In an X post dated Jan. 28, Linda Yaccarino, the CEO of X, announced the launch of &#8216;X Money&#8217; and its partnership with Visa.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Another milestone for the Everything App: <a href="https://twitter.com/Visa?ref_src=twsrc%5Etfw">@Visa</a> is our first partner for the <a href="https://twitter.com/XMoney?ref_src=twsrc%5Etfw">@XMoney</a> Account, which will debut later this year. &#x1f4b0;Allows for secure + instant funding to your X Wallet via Visa Direct &#x1faaa; Connects to your debit card allowing P2P payments &#x1f3e6; Option to instantly…
&mdash; Linda Yaccarino (@lindayaX) <a href="https://twitter.com/lindayaX/status/1884254005188034772?ref_src=twsrc%5Etfw">January 28, 2025</a></blockquote>
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Visa <a href="https://www.benzinga.com/news/earnings/25/01/43355517/visa-shares-rise-on-solid-q1-results-details">beat earnings</a> and revenue expectations for the quarter, as its earnings per share of $2.75 was above Benzinga&#8217;s estimates of $2.66. Revenue was at $9.51 billion as compared to the expected $9.34 billion, up from $8.63 billion last year.
Payment volume rose 9%, cross-border volume (excluding intra-Europe) increased 16%, total cross-border volume was up 16%, and processed transactions grew 11% to 63.8 billion. Visa&#8217;s Service revenue reached $4.2 billion, an 8% increase.
Price Action: Visa&#8217;s stock rose 2.13% on Thursday and advanced 1.16% to $347.03 per share in after hours trading, whereas, the exchange-traded fund tracking S&amp;P 500, SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was up 0.54% at $605.04.
Visa has a consensus ‘buy&#8217; with a price target of $324.06, according to the 34 analysts <a href="https://www.benzinga.com/quote/V/analyst-ratings">tracked by Benzinga</a>. The high target is $375, and the low is $252. Recent ratings by Piper Sandler, BofA Securities, and Citigroup suggest a $523 target, implying a 1.14% upside.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/V/analyst-ratings"><img loading="lazy" decoding="async" width="1024" height="379" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/31013048/Visa-ANR-1024x379.png" alt="" class="wp-image-759493" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/31013048/Visa-ANR-1024x379.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/31013048/Visa-ANR-300x111.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/31013048/Visa-ANR-768x284.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/31013048/Visa-ANR.png 1062w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Photo via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43333849/microstrategy-is-a-lever-for-the-believer-says-mizuho-initiates-coverage-on-bitcoins-levered-play-with-an-outperform-rating">MicroStrategy Is A &#8216;Lever For The Believer,&#8217; Says Mizuho, Initiates Coverage On Bitcoin&#8217;s Levered Play With An &#8216;Outperform&#8217; Rating</a></li>
</ul>

Earnings Beats

Market Summary

Broad U.S. Equity ETFs

Tech

ETFs

General

Elon Musk's 'X Money' To See About 600 Million Active Monthly Users Via Visa Direct Integration: 'Excited To Partner,' Says CEO

DATROWAY is a specifically engineered TROP2 directed DXd antibody drug conjugate (ADC) discovered by Daiichi Sankyo (TSE: 4568) and being jointly developed and commercialized by Daiichi Sankyo and AstraZeneca (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>).
Standard treatment for stage 1 NSCLC is tumor resection, but up to 40% of patients may experience disease recurrence.1,2,3 Tumor resection is typically followed by observation but adjuvant chemotherapy and/or immunotherapy may be offered to patients with stage 1b disease who are identified to be at high risk of relapse.4 However, novel strategies to identify high risk patients are needed as well as additional treatment options in the adjuvant setting. Research suggests that ctDNA screening may help identify high risk patients who are most likely to benefit from adjuvant therapy.5,6

DSNKY

Reported Earlier, Daiichi Sankyo And AstraZeneca Initiate TROPION-Lung12 Phase 3 Trial To Evaluate DATROWAY In Adjuvant Treatment for High-Risk Early-Stage NSCLC

Reported Earlier, Daiichi Sankyo Appoints Hiroyuki Okuzawa As Chief Executive Officer, Effective April 2025

STA authorization includes all types of unmodified smartphones, to support voice, full data, and video applications, and other native cellular broadband capabilities

ASTS

Reported Earlier, FCC Grants AST SpaceMobile Special Temporary Authority For Direct-To-Device Cellular Broadband With AT&T And Verizon

SKF (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SKFRY#OTC">SKFRY</a>) reported quarterly earnings of $0.39 per share which beat the analyst consensus estimate of $0.33 by 17.88 percent. This is a 14.41 percent increase over earnings of $0.34 per share from the same period last year. The company reported quarterly sales of $2.29 billion which missed the analyst consensus estimate of $2.38 billion by 3.57 percent. This is the same as the same period last year.

SKFRY

SKULF

SKF Q4 Adj. EPS $0.39 Beats $0.33 Estimate, Sales $2.29B Miss $2.38B Estimate

Sarclisa is the first anti-CD38 treatment approved in China for patients with newly diagnosed multiple myeloma ineligible for transplant&nbsp;
<ul>
<li>Approval based on positive results from the IMROZ phase 3 study that demonstrated Sarclisa in combination with bortezomib, lenalidomide, and dexamethasone (VRd) significantly improved progression-free survival, compared to VRd alone in transplant-ineligible newly diagnosed multiple myeloma&nbsp;</li>
<li>Second approval in China in three weeks following the R/R MM indication announced on January 13, 2025</li>
</ul>

Sanofi's Sarclisa Becomes First Anti-CD38 Therapy Approved In China For Newly Diagnosed Multiple Myeloma Patients Ineligible For Transplant

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) reported an 11% decline in <a href="https://www.benzinga.com/news/earnings/25/01/43355688/apple-q1-earnings-revenue-beat-eps-beat-iphone-sales-slip-installed-base-climbs-to-all-time-high-our-best-quarter-ever">first-quarter revenue</a> for Greater China to $18.51 billion, while CEO Tim Cook highlighted a new national consumer subsidy program that could impact future sales in the region.
What Happened: During Thursday&#8217;s earnings call, Cook specifically addressed China&#8217;s recently announced fiscal stimulus measures. &#8220;In terms of the macro situation, there was a fiscal stimulus or subsidy announced&#8230;very recently in January that did not affect the December quarter,&#8221; Cook said, noting that while some provincial subsidies were active in the December quarter, the national program was only announced on Jan. 20.
The Chinese stimulus covers the categories of products Apple offers, including smartphones, tablets, PCs, and smartwatches, up to a certain price threshold. &#8220;We do see fiscal stimulus occurring,&#8221; Cook said, acknowledging the headwinds in China.
Cook maintained an optimistic stance on the company&#8217;s second-largest market, even as Chinese leader Xi Jinping&#8216;s government implemented what Morgan Stanley calls the &#8220;most aggressive stimulus tone in a decade&#8221; to boost consumption through <a href="https://www.benzinga.com/markets/asia/25/01/43168134/is-chinas-economic-stimulus-strategy-helping-its-ailing-markets-to-recover">moderately loose monetary policy</a>.
Gene Munster, managing partner at Deepwater Asset Management, provided context for the apparent downturn, noting that approximately half of the <a href="https://www.benzinga.com/markets/equities/25/01/43374851/gene-munster-says-apples-mess-wasnt-as-big-as-it-looked-as-iphone-maker-delivers-better-than-expected-results">weakness in China was attributable to inventory management</a> rather than fundamental demand issues. &#8220;The mess wasn&#8217;t as big as it looked in the numbers,&#8221; Munster stated on X.
See Also: <a href="https://www.benzinga.com/markets/equities/25/01/43375128/jim-cramer-wonders-if-baidu-could-be-next-after-alibabas-ai-model-outperforms-deepseek">Jim Cramer Wonders If Baidu Could Be Next After Alibaba&#8217;s AI Model Outperforms DeepSeek</a>
What Happened: The company&#8217;s performance comes amid broader economic challenges in China, where GDP growth in 2024 fell below targets, growing between 2.4% and 2.8% according to Rhodium Group estimates. The Chinese government&#8217;s stimulus strategy includes <a href="https://www.benzinga.com/markets/asia/25/01/43168134/is-chinas-economic-stimulus-strategy-helping-its-ailing-markets-to-recover">lowering borrowing costs</a> and reducing bank reserve requirements to increase lending, measures that could potentially boost consumer spending.
Apple&#8217;s strategic approach in China includes embracing local innovation, as evidenced by Cook&#8217;s praise for Chinese AI startup DeepSeek. &#8220;In general, I think innovation that drives efficiency is a good thing,&#8221; Cook said during <a href="https://www.benzinga.com/markets/25/01/43373775/tim-cook-praises-chinas-deepseek-for-driving-efficiency-stresses-apples-prudent-and-deliberate-approach-toward-capital-expenditure">the earnings call</a> while detailing Apple&#8217;s hybrid AI model that combines on-device processing with cloud partnerships.
Goldman Sachs analysts warn that U.S. trade policies under President Donald Trump&#8216;s administration could pose additional <a href="https://www.benzinga.com/markets/asia/25/01/43168134/is-chinas-economic-stimulus-strategy-helping-its-ailing-markets-to-recover">challenges for the Chinese market</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/media/25/01/43375144/meta-vows-to-fire-leakers-after-mark-zuckerbergs-private-comments-made-public-ceo-says-it-sks">Meta Vows To Fire Leakers After Mark Zuckerberg&#8217;s Private Comments Made Public — CEO Says, &#8216;It S&#x2A;&#x2A;ks&#8217;</a></li>
</ul>
Image Via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

AAPL

Tim Cook Sees Apple Products Covered By Beijing's Subsidy Program As iPhone Maker Faces 11% Revenue Decline In China: 'Fiscal Stimulus Occurring'

Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based meme coin launchpad Pump.fun was hit with a class-action lawsuit on Thursday, claiming that all tokens created on the platform are unregistered securities.
What happened: The suit, filed in a New York federal court, named Baton Corporation, a U.K.-registered company, as the owner of Pump.fun. The complaint alleged that the platform earned nearly half a billion dollars in fees by selling "highly volatile unregistered securities."
The plaintiff further accused Pump.fun of allowing the sale of "worthless" digital tokens in minutes, disregarding basic investor protections, including "Know Your Customer" rules and anti-money laundering protocols.
The lawsuit also claimed that the network has no age verification or restrictions in place, allowing anyone to create tokens on provocative themes.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/01/43325381/elon-musks-tesla-racks-up-600-million-paper-gains-on-bitcoin-in-q4">Elon Musk&#8217;s Tesla Records $600 Million In Paper Gains On Bitcoin In Q4 Thanks To New Accounting Rule</a>&nbsp;
The lead complainant, Diego Angular, claimed to have lost money trading Pump.fun meme coins like Fwog (FWOG) and Griffain (GRIFFAIN) and sought compensation.&nbsp;
Alon Cohen, Pump.fun creator, didn&#8217;t immediately respond to Benzinga&#8217;s request for comment.
Why It Matters: The latest legal trouble comes two weeks after a class-action lawsuit was filed against Pump.fun over the sale of the <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41949184/elon-musk-endorsed-peanut-the-squirrel-surges-270-to-15-billion-valuation-only-more-wild-moves-ahead-says-millionaire-trader">popular</a> Peanut The Squirrel (PNUT) token.
Pump.fun was at the heart of the <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42014810/viral-baby-hippo-moodeng-makes-new-all-time-high-could-follow-shiba-inus-run-trader-predicts">Solana meme coin mania</a> last year, spawning multi-million dollar coins like PNUT, Fartcoin (FARTCOIN), and MooDeng (MOODENG).
As of this writing, the combined market capitalization of Pump.fun meme coins was nearly $6 billion, <a href="https://www.coingecko.com/en/categories/pump-fun">according </a>to CoinGecko. Over the last 24 hours, the valuation fell by 8%.
Photo by Avi Rozen on Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/25/01/43326463/former-senator-bob-menendez-who-said-bitcoin-will-open-doors-of-corruption-in-el-salvador-gets-11-year-jail-term-for-accepting-bribes">Former Senator Bob Menendez Who Said &#8216;Bitcoin Will Open Doors Of Corruption In El Salvador&#8217; Gets 11-Year Jail Term For Accepting Bribes</a></li>
</ul>

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

Cryptocurrency

$SOL

Are Fartcoin, MooDeng Tokens Securities? Solana-based Memecoin Creator Pump.fun Slapped With Class-Action Lawsuit

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) researcher Troy Teslike expects the company&#8217;s EV deliveries to drop this year despite the Elon Musk-led EV giant promising new and more affordable models on Wednesday.
What Happened: Teslike expects deliveries to decline 1% in 2025 to 1.77 million units, below the company-compiled consensus estimate of over 2 million units, the researcher said in a post on social media platform X, formerly Twitter. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Hi everyone. Here are the Tesla delivery estimates for the full year: • My Estimate: 1,772,000 units • Analyst Consensus: 2,039,674 units The analyst consensus comes from Tesla&#39;s survey of 26 analysts, known as the Company-Compiled consensus. Tesla delivered 1,789,226 cars… <a href="https://t.co/t5sKQBw6B0">pic.twitter.com/t5sKQBw6B0</a>
&mdash; Troy Teslike (@TroyTeslike) <a href="https://twitter.com/TroyTeslike/status/1885045876332114093?ref_src=twsrc%5Etfw">January 30, 2025</a></blockquote>
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</figure>
As per Teslike, the start of Tesla Semi deliveries won&#8217;t contribute to the delivery numbers this year and CEO Musk did not reiterate the <a href="https://www.benzinga.com/tech/25/01/42802658/tesla-ceo-elon-musks-20-to-30-sales-growth-target-for-2025-is-not-realistic-says-analyst">20%-30% delivery growth target</a> that he had put forth in October.
&#8220;We expect the vehicle business to return to growth in 2025,&#8221; the company said in its earnings report instead. 
Teslike, however, expects sales to drop in both the U.S. and Europe due to top brand sentiment and fewer incentives. The researcher, however, expects deliveries to rise in China, similar to 2024. 
Tesla said on Wednesday that the company expects to start production of new models, including more affordable ones, in the first half of 2025. Teslike, however, expects the new vehicles to cannibalize sales of existing models.
Why It Matters: Tesla stock rose after hours on Wednesday despite the company reporting revenue and <a href="https://www.benzinga.com/tech/25/01/43326143/tesla-stock-rises-5-after-hours-on-fsd-and-new-vehicle-promises-despite-q4-revenue-miss">earnings below expectations</a>. The company promised new and affordable models this year and said that it would start testing its autonomous ride-hailing service in Texas in June with vehicles deployed with its full self-driving (FSD) driver assistance technology, driving investor sentiment. 
However, Musk also warned that the company will be retooling factories for the start of production of its new and refreshed Model Y in the first quarter and the change will result in <a href="https://www.benzinga.com/25/01/43328898/elon-musk-warns-teslas-new-model-y-will-result-in-several-weeks-of-lost-production-for-ev-giant-in-q1">several weeks of lost production</a>. 
Tesla stock closed up 2.9% at $400.28 on Thursday, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro.</a> Tesla has a consensus price target of $320.75 based on the ratings of 32 <a href="https://www.benzinga.com/quote/TSLA/analyst-ratings">analysts tracked by Benzinga</a> and a consensus &#8220;buy&#8221; rating.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/25/01/43327837/tesla-ceo-elon-musk-dismises-lidar-again-says-if-humans-drive-without-shooting-lasers-from-their-eyes-so-can-autonomous-cars">Tesla CEO Elon Musk Dismisses LiDAR Again: &#8216;Humans Drive Without Shooting Lasers Out Of Their Eyes&#8217;</a></li>
<li></li>
</ul>
Image via Shutterstock

TSLA

Tesla Researcher Predicts Drop In Deliveries For Elon Musk's EV Giant In 2025 Despite New Model Launches

Macro Economic Events

Econ #s

Economics

Reported Earlier, Australia Producer Price Index (QoQ) For Q4 0.8% Vs. 1.0% Est.; 1.0% (Revised) Prior

Reported Earlier, Australia Producer Price Index (YoY) For Q4 3.7% Vs. 3.9% Prior

BBJP

WisdomTree Trust Japan Total Dividend Fund

Reported Earlier, Japan Industrial Production (MoM) Preliminary For December 0.3% Vs. -0.1% Est.; -2.2% Prior

Reported Earlier, Japan Tokyo Core Consumer Price Index (YoY) For January 2.5% Vs. 2.5% Est.; 2.4% Prior

Mexican President Claudia Sheinbaum has formally requested Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google to reconsider renaming the Gulf of Mexico
What Happened: The request follows an <a href="https://www.benzinga.com/government/regulations/25/01/43086509/trump-unleashes-executive-orders-on-border-security-oil-drilling-domestic-manufacturing-in-first-acts-as-president">executive order by U.S.</a> President Donald Trump to rename the body of water as the "<a href="https://www.benzinga.com/tech/25/01/43256798/google-maps-to-rename-gulf-of-mexico-to-gulf-of-america-for-us-users-in-aftermath-of-trump-executive-order">Gulf of America</a>."
The renaming will only affect Google Maps users in the U.S., while the rest of the world will continue to see the Gulf of Mexico.
Sheinbaum argues that the U.S. lacks the legal authority to change the name internationally, citing the United Nations Convention on the Law of the Sea, which limits a country&#8217;s sovereign territory to 12 nautical miles from its coastline, <a href="https://www.bbc.com/news/articles/clyn1rgngn8o">reported</a> BBC.
See Also:&nbsp;<a href="https://www.benzinga.com/government/regulations/25/01/43086509/trump-unleashes-executive-orders-on-border-security-oil-drilling-domestic-manufacturing-in-first-acts-as-president" target="_blank" rel="noreferrer noopener">Trump Unleashes Executive Orders On Border Security, Oil Drilling, Domestic Manufacturing In First Acts As President</a>
She also poked fun at Trump&#8217;s decision saying, &#8220;By the way, we are also going to ask for Mexican America to appear on the map.&#8221;
Why It Matters: Google has a history of adjusting place names in regions with territorial disputes. For instance, it refers to the body of water between Japan and South Korea as the "Sea of Japan (East Sea)."&nbsp;&nbsp;
In 2012, Iran warned of potential legal action against Google after the company removed "Persian Gulf" from its maps. In some regions, the waterway is now labeled as the "Persian Gulf (Arabian Gulf)."
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.
Google has also reportedly reclassified the U.S. as a &#8220;<a href="https://www.benzinga.com/media/25/01/43295150/google-reclassifies-us-as-sensitive-country-just-like-china-and-russia-after-trumps-gulf-of-america-move">sensitive country</a>,&#8221; a label typically reserved for nations with strict governments or border disputes, such as China and Russia.
Price Action: As of this writing, Alphabet&#8217;s Class A shares were up 0.35% in after-hours trading at $201.57, while Class C shares climbed 0.34% to $203.32. Earlier on Thursday, Class A shares closed 2.79% higher at $200.87, with Class C shares rising 2.76% to $202.63, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>.
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>.
Read Next:
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<li><a href="https://www.benzinga.com/tech/25/01/43221770/apples-ipad-turns-15-today-heres-a-throwback-to-when-steve-jobs-explained-called-it-the-third-category-after-phones-and-notebooks" target="_blank" rel="noreferrer noopener">Apple's iPad Turns 15 Today: Here's A Throwback To When Steve Jobs Explained Called It The ‘Third Category' After Phones And Notebooks</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Politics

Media

GOOG

GOOGL

Mexican President Asks Google Not To Rename Gulf Of Mexico, Takes A Swipe At Trump Decision By Asking For 'Mexican America'

Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) corrected sharply this week, but the dog-themed cryptocurrency could gain upsides in the days to come, according to a popular trader's analysis on Thursday.
What happened: Trader Tardigrade, noted for recognizing patterns and forecasting the next moves for cryptocurrencies, predicted "upside momentum" for DOGE as the meme coin broke out from a descending trendline.&nbsp;
Typically, a break above the descending trend line indicates that buyer demand has increased and the bearish trend could end. Notably, DOGE lost over 6% in a week.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> is breaking out of a Descending Trendline &#x1f525;<a href="https://twitter.com/search?q=%24Doge&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$Doge</a> gains upside momentum &#x1f680; <a href="https://t.co/AHB2i4jGUX">pic.twitter.com/AHB2i4jGUX</a>
&mdash; Trader Tardigrade (@TATrader_Alan) <a href="https://twitter.com/TATrader_Alan/status/1885080007384719587?ref_src=twsrc%5Etfw">January 30, 2025</a></blockquote>
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In a separate post, the influential trader spotted a falling wedge pattern on the weekly Dogecoin vs. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) dominance chart.
The falling wedge is now supported by a key level. Dogecoin might outperform BTC and lead the #Altseason in the coming weeks," they stated.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24Doge.D&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$Doge.D</a>/ <a href="https://twitter.com/search?q=%24BTC.D&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC.D</a> (Dogecoin Dominance on Bitcoin Dominance) has formed a Falling Wedge on the weekly chart &#x1f525; The falling wedge is now supported by a Key Level.<a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> might outperform <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> and lead the <a href="https://twitter.com/hashtag/Altseason?src=hash&amp;ref_src=twsrc%5Etfw">#Altseason</a> in the coming weeks &#x1f680; <a href="https://t.co/U42ZCnE0gu">pic.twitter.com/U42ZCnE0gu</a>
&mdash; Trader Tardigrade (@TATrader_Alan) <a href="https://twitter.com/TATrader_Alan/status/1884956914502767086?ref_src=twsrc%5Etfw">January 30, 2025</a></blockquote>
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See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/01/43325381/elon-musks-tesla-racks-up-600-million-paper-gains-on-bitcoin-in-q4">Elon Musk&#8217;s Tesla Records $600 Million In Paper Gains On Bitcoin In Q4 Thanks To New Accounting Rule</a>&nbsp;
Ali Martinez, another widely followed cryptocurrency analyst, predicted DOGE to rise to $0.36 after the biggest meme coin by market capitalization was seen breaking out of a symmetrical triangle pattern.
A symmetrical triangle pattern, characterized by two converging trend lines, indicates a period of market consolidation before a potential breakout or breakdown.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a> appears to have broken out of a symmetrical triangle, targeting $0.36! <a href="https://t.co/Inx2spKBa7">pic.twitter.com/Inx2spKBa7</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1884984215881834762?ref_src=twsrc%5Etfw">January 30, 2025</a></blockquote>
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Why It Matters: The bullish projections contrasted with bearish signals coming from some popular technical indicators of Dogecoin.
The Moving Average Convergence Divergence, which compares two exponential moving averages of price, flashed a "Sell" signal as of this writing, according to <a href="https://in.tradingview.com/symbols/DOGEUSD/technicals/">data </a>from TradingView.
Additionally, the Momentum indicator, which compares the short-term momentum and long-term momentum, also gave a bearish signal.
In the futures market, bearish bets on DOGE surged against bullish bets, <a href="https://www.coinglass.com/LongShortRatio">according </a>to Coinglass.
Price Action: At the time of writing, DOGE was exchanging hands at $0.3274, down 1.47% 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>. Year-to-date, the coin was up 3.56%.
Image via Shutterstock
Read Next:&nbsp;
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</ul>

$BTC

$DOGE

Dogecoin Might 'Outperform' Bitcoin And Lead The Altcoin Season, Says Analyst

Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has reportedly issued a stern warning to employees about leaking information.
This comes after CEO Mark Zuckerberg&#8217;s comments during an all-hands meeting were leaked on Wednesday.
What Happened: In an internal memo, Guy Rosen, Meta&#8217;s chief information security officer, emphasized the seriousness of leaks, stating, &#8220;We take leaks seriously and will take action,&#8221; <a href="https://www.theverge.com/meta/603812/meta-warns-leakers-leaked-memo">reported</a> The Verge.&nbsp;
He highlighted the negative impact on team morale and productivity, adding that Meta will &#8220;take appropriate action, including termination&#8221; against those responsible.
See Also:&nbsp;<a href="https://www.benzinga.com/news/legal/25/01/43325503/mark-zuckerbergs-meta-pays-trump-25-million-to-settle-lawsuit-over-facebook-instagram-ban-after-jan-6-riot-a-big-year-for-redefining-our-relationships-with-governments" target="_blank" rel="noreferrer noopener">Mark Zuckerberg's Meta Pays Trump $25 Million To Settle Lawsuit Over Facebook, Instagram Ban After Jan. 6 Riot: ‘A Big Year For Redefining Our Relationships With Governments'</a>
Why It Matters: The memo came shortly after Zuckerberg&#8217;s remarks from Meta&#8217;s first all-hands meeting of the year were leaked, according to a separate <a href="https://www.theverge.com/command-line-newsletter/603754/mark-zuckerberg-tells-employees-to-buckle-up-in-leaked-all-hands-meeting">report</a> by The Verge.
During the meeting, Zuckerberg addressed employee concerns about layoffs, content moderation changes, and Meta's relationship with the Donald Trump administration.
He defended <a href="https://www.benzinga.com/25/01/42960291/metas-content-moderation-changes-alarm-advertisers-as-zuckerberg-aligns-with-trump-and-musk">policy shifts</a>, highlighted Meta's continued AI and smart glasses investments, and expressed frustration over leaks, leading to stricter internal communications.&nbsp;
&#8220;We try to be really open, and then everything I say leaks,&#8221; he stated, adding, &#8220;It s&#x2A;&#x2A;ks.&#8221;
Meta&#8217;s warning to employees about leaks is not an isolated incident. In February 2023, the company <a href="https://www.benzinga.com/news/23/02/30871801/metas-vr-headset-leaks-mystery-solved-source-identified-after-probe">identified the source of leaks</a> concerning its unannounced VR headsets.&nbsp;
Zuckerberg also has a history of taking a firm stance against leaks. In 2010, he demanded the immediate resignation of a Facebook employee after what he termed &#8220;<a href="https://www.benzinga.com/general/social-media/24/09/40714270/mark-zuckerbergs-confidential-2010-email-demanded-a-facebook-employee-resign-immediately-aft">an act of betrayal</a>&#8221; against the company.
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.
Meta continues to perform well financially. The company reported a <a href="https://www.benzinga.com/general/social-media/25/01/43322201/meta-platforms-q4-earnings-revenue-beat-eps-beat-daily-actives-up-5-continued-strong-revenue-growth-expected">strong fourth quarter</a>, with revenue of $48.39 billion, beating <a href="https://www.benzinga.com/calendars/earnings">analyst estimates</a> of $47.03 billion.
Price Action: Meta&#8217;s stock dipped 0.16% in after-hours trading to $685.91. Earlier on Thursday, it closed at $687, reflecting a 1.55% gain during regular trading, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Photo Courtesy: Shutterstock.com
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
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<li><a href="https://www.benzinga.com/tech/25/01/43221770/apples-ipad-turns-15-today-heres-a-throwback-to-when-steve-jobs-explained-called-it-the-third-category-after-phones-and-notebooks" target="_blank" rel="noreferrer noopener">Apple's iPad Turns 15 Today: Here's A Throwback To When Steve Jobs Explained Called It The ‘Third Category' After Phones And Notebooks</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Meta Vows To Fire Leakers After Mark Zuckerberg's Private Comments Made Public — CEO Says, 'It S**ks'

Amid recent artificial intelligence sector turbulence, CNBC&#8217;s Jim Cramer wondered if Baidu Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) might be the next Chinese tech giant to draw market focus. 
What Happened: He posed the question on X on Thursday, writing, &#8220;First, it was DeepSeek, then it was BABA, and next, maybe Baidu?&#8221;
The observation comes as Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) shares surged 6.39% to $102.91 on Thursday, driven by growing investor confidence in its <a href="https://www.benzinga.com/trading-ideas/movers/25/01/43351350/alibaba-stock-rises-as-deepseek-selloff-continues-qwen-ai-model-gains-attention">Qwen 2.5-Max AI model</a>. Alibaba&#8217;s latest AI iteration has reportedly outperformed DeepSeek-V3 in multiple benchmarks, including Arena Hard, LiveBench, and GPQA-Diamond tests.
The market repositioning follows a tumultuous period triggered by DeepSeek&#8217;s disruptive entrance, which initially caused a massive tech sector selloff. NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) saw <a href="https://www.benzinga.com/markets/equities/25/01/43294528/jim-cramer-says-the-shoot-first-learn-later-crowd-got-hosed-as-nvidia-and-other-tech-stocks-stage-recovery-after-deepseek-turmoil">nearly $600 billion erased from its market value</a> on Monday before staging an 8.82% recovery on Tuesday.
See Also: <a href="https://www.benzinga.com/trading-ideas/movers/25/01/43351350/alibaba-stock-rises-as-deepseek-selloff-continues-qwen-ai-model-gains-attention">Tim Cook Praises China&#8217;s DeepSeek For Driving Efficiency, Stresses Apple&#8217;s &#8216;Prudent And Deliberate&#8217; Approach Toward Capital Expenditure</a>
Why It Matters: DeepSeek, which emerged from <a href="https://www.benzinga.com/markets/equities/25/01/43293842/bill-ackman-questions-whether-deepseek-ais-hedge-fund-affiliate-profited-from-nvidias-sell-off-a-fortune-could-have-been-made">the $8 billion quantitative hedge</a> fund High-Flyer, had claimed to match OpenAI&#8217;s performance at significantly lower costs, developing its R1 model for just $5.6 million using lower-end Nvidia chips. However, sustainability concerns have since dampened enthusiasm for DeepSeek-linked investments.
The shifting landscape has caught the attention of <a href="https://www.benzinga.com/markets/equities/25/01/43296517/black-swan-author-nassim-taleb-nvidias-17-drop-on-monday-is-just-the-beginning-says-electric-cars-are-next-noting-pioneers-with-innovative-ideas-never-made-money">prominent market observers</a>. &#8220;Black Swan&#8221; author Nassim Taleb warned investors about the fragility of wealth concentration in technology stocks, suggesting at Miami Hedge Fund Week that potential drawdowns could be &#8220;two or three times bigger&#8221; than Monday&#8217;s selloff.
Meanwhile, OpenAI is reportedly in discussions with SoftBank Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) for a potential $40 billion funding round at <a href="https://www.benzinga.com/media/25/01/43374528/softbank-may-lead-openais-40-billion-funding-round-at-a-300-billion-valuation-despite-deepseek-disruption-report">a $300 billion valuation</a>, highlighting the intense competition in the AI space. OpenAI has accused DeepSeek of using its proprietary models without authorization, adding another layer of complexity to the evolving narrative.
Price Action: Baidu closed at $94.77 on Thursday, gaining 5.76% for the day. In after-hours trading, the stock dipped slightly by 0.047%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
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<li><a href="https://www.benzinga.com/trading-ideas/movers/25/01/43374018/bitcoin-dogecoin-trade-flat-ethereum-rises-ahead-of-feds-preferred-inflation-gauge-release-will-bitcoin-peak-in-early-2027">Bitcoin, Dogecoin Trade Flat, Ethereum Rises Ahead Of Fed&#8217;s Preferred Inflation Gauge Release: Will Bitcoin Peak In Early 2027?</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

BABA

BIDU

NVDA

SFTBY

Jim Cramer Wonders If Baidu Could Be Next After Alibaba's AI Model Outperforms DeepSeek

Cryptocurrency firm Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>) announced the launch of USDT, the world&#8217;s most valuable stablecoin by market cap, on the Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) blockchain on Thursday.
What Happened: The integration will make the $139 billion-valued stablecoin available on Bitcoin&#8217;s base layer and the <a href="https://www.benzinga.com/money/what-is-the-bitcoin-lightning-network">Lightning Network</a>, its second-layer protocol, according to a press release.
The integration will be made possible by the&nbsp;new Taproot-powered protocol, Taproot Assets,&nbsp;developed by Lightning Labs. The upgrade allows users to issue and transfer digital assets like stablecoins directly on the Bitcoin blockchain.
&#8220;Millions of people will now be able to use the most open, secure blockchain to send dollars globally. It all comes back to Bitcoin,&#8221; Lightning Labs CEO Elizabeth Stark said.
Tether CEO Paulo Ardoino said the integration will offer practical solutions for remittances, payments, and other financial services. 
USDT is already available on several leading blockchains like Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), Tron (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/trx/usd">TRX</a>), and Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>).
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/01/43325381/elon-musks-tesla-racks-up-600-million-paper-gains-on-bitcoin-in-q4">Elon Musk&#8217;s Tesla Records $600 Million In Paper Gains On Bitcoin In Q4 Thanks To New Accounting Rule</a>
Why It Matters: USDT is extensively used to enter and exit trading positions on exchanges, as well as in decentralized apps, remittances, and settlements, among other use cases. It is the fourth-largest cryptocurrency by market capitalization and most traded among them all.
However, over the years, USDT has attracted criticism for being a popular tool for&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42166673/drug-cartels-use-tether-and-bitcoin-to-launder-millions-court-documents-reveal" target="_blank" rel="noreferrer noopener">drug traffickers&nbsp;</a>and illegal gaming platforms to launder money. A UN report from last year explicitly mentioned&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36644909/from-casinos-to-slaves-un-report-details-tethers-role-in-organized-crime" target="_blank" rel="noreferrer noopener">USDT's role</a>&nbsp;in boosting the&nbsp;illicit digital economy in Southeast Asia.
Earlier this month, Tether <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42956569/tether-to-relocate-headquarters-to-el-salvador">relocated to El Salvador</a>, citing the country&#8217;s cryptocurrency-friendly policies, favorable regulations, and widespread adoption of digital assets.
Image via 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.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

$ETH

$TRX

$USDT

USDT

Tether Is Bringing USDT To Bitcoin Network, Which Will Allow 'Millions' To Send Dollars Globally

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) <a href="https://www.benzinga.com/news/earnings/25/01/43355688/apple-q1-earnings-revenue-beat-eps-beat-iphone-sales-slip-installed-base-climbs-to-all-time-high-our-best-quarter-ever">delivered better-than-expected fiscal first-quarter results</a>, with Deepwater Asset Management&#8216;s Gene Munster suggesting the quarter wasn&#8217;t as disappointing as initial numbers indicated, citing channel inventory adjustments and forward guidance as key factors.
What Happened: The tech giant reported revenue of $124.3 billion, slightly exceeding analyst estimates of $124.13 billion, while earnings per share came in at $2.40, above the expected $2.36. Despite these beats, iPhone sales showed some weakness, particularly in China.
Munster, analyzing the results on X, pointed to channel inventory adjustments as a significant factor in the apparent slowdown. &#8220;The mess wasn&#8217;t as big as it looked in the numbers,&#8221; he noted, explaining that about half of the weakness in China, where revenue declined 11%, was attributable to inventory management rather than underlying demand issues.
&#8220;I still believe Apple Intelligence will reaccelerate iPhone sales starting in June based on early uptake data in the US,&#8221; Munster said. 
The company&#8217;s installed base reached a new all-time high <a href="https://www.benzinga.com/news/earnings/25/01/43355688/apple-q1-earnings-revenue-beat-eps-beat-iphone-sales-slip-installed-base-climbs-to-all-time-high-our-best-quarter-ever">across all products and geographic segments</a>, with CEO Tim Cook highlighting the role of Apple silicon in unlocking new possibilities through Apple Intelligence. Services revenue showed particular strength, growing to $26.34 billion from $23.12 billion year-over-year, representing about 20% of total sales.
Looking ahead, Munster expressed optimism about iPhone sales reaccelerating by June, based on early adoption data in the U.S. He emphasized the strength of Apple&#8217;s ecosystem, noting the 7% growth in the installed base to 2.2 billion devices.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24AAPL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAPL</a>&#39;s quarter was not as bad as the numbers first looked based on channel inventory and the guide. I still believe Apple Intelligence will reaccelerate iPhone sales starting in June based on early uptake data in the US. <a href="https://t.co/jPrLxN4M6U">pic.twitter.com/jPrLxN4M6U</a>
&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1885118521224351873?ref_src=twsrc%5Etfw">January 31, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: However, challenges remain in China, where local competition and shifting consumer preferences toward domestic brands pose ongoing concerns. Despite these headwinds, Apple&#8217;s guidance for the March quarter suggests approximately 5% revenue growth, which Munster views as encouraging given the inventory adjustments in the previous quarter.
Price Action: Apple&#8217;s stock closed on Thursday at $237.59, down 0.74% for the day. However, in after-hours trading, the stock price rose by 3.01%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Read Next: 
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Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Gene Munster Says Apple's 'Mess Wasn't As Big As It Looked' As iPhone Maker Delivers Better Than Expected Results

About a billion Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) tokens were removed from circulation on Thursday, applying further deflationary pressure on the popular dog-themed cryptocurrency.
What Happened:&nbsp;Kaal Dhairya, a key figure in the ecosystem, took to X to announce the massive burning event to celebrate upgrades made to ShibTorch, Shiba Inu&#8217;s community-driven burn portal.
&#8220;To celebrate the progress team is making the deployer has burnt pending 1B SHIB, enjoy,&#8221; Dhairya said.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">To celebrate the progress team is making the deployer has burnt pending 1B SHIB, enjoy <a href="https://t.co/3fbkLUDjQp">https://t.co/3fbkLUDjQp</a> <a href="https://t.co/YsdwuATIyz">https://t.co/YsdwuATIyz</a>
&mdash; Kaal (@kaaldhairya) <a href="https://twitter.com/kaaldhairya/status/1885068301505569195?ref_src=twsrc%5Etfw">January 30, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Coin burning involves purposely sending a cryptocurrency to an unusable wallet address to remove it from circulation. This is done to generate scarcity and gradually boost the market value of the token in the long term.
Due to the massive incineration, the burn rate shot up to 43325.59% in the past 24 hours, <a href="https://www.shibburn.com/">according </a>to Shiba Inu&#8217;s official burn tracker. As of this writing, nearly 410.744 trillion SHIB tokens have gone up in smoke.
ShibTorch was launched in August last year on Shibarium, Shiba Inu&#8217;s Layer-2 blockchain, allowing users to actively participate in burning tokens. Note that a portion of transaction fees paid on Shibarium are set aside and burned.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/01/43325381/elon-musks-tesla-racks-up-600-million-paper-gains-on-bitcoin-in-q4">Elon Musk&#8217;s Tesla Records $600 Million In Paper Gains On Bitcoin In Q4 Thanks To New Accounting Rule</a>
Why It Matters:&nbsp;The mega-burning event comes on the heels of a <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43261673/shytoshi-kusamas-biggest-announcement-ever-tease-triggers-rally-in-shiba-inu-ecosystem-tokens">big tease</a> by Shytoshi Kusama, Shiba Inu&#8217;s lead ambassador. Earlier this week, they hinted at the &#8220;biggest announcement&#8221; ever related to the blockchain ecosystem.
Kusama continued to pique the interest of the community, announcing that an <a href="https://www.benzinga.com/25/01/43293760/shiba-inus-shytoshi-kusama-teases-extremely-powerful-partnership-for-ecosystemcoin-themed-on-mysterious-personality-rallies-25">&#8220;extremely powerful partnership&#8221;</a> was the works.
Meanwhile, SHIB&#8217;s daily active addresses rose by 1.15% in the last 24 hours, although large transactions involving whales dipped significantly, <a href="https://app.intotheblock.com/?end_offset=20">according</a> to data from IntoTheBlock. 
Price Action: At the time of writing, SHIB was exchanging hands at $0.00001859, up 0.41% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Image via Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/25/01/43326463/former-senator-bob-menendez-who-said-bitcoin-will-open-doors-of-corruption-in-el-salvador-gets-11-year-jail-term-for-accepting-bribes">Former Senator Bob Menendez Who Said &#8216;Bitcoin Will Open Doors Of Corruption In El Salvador&#8217; Gets 11-Year Jail Term For Accepting Bribes</a></li>
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$SHIB

Shiba Inu's Burn Rate Explodes 43325% As A Billion SHIB Tokens Kicked Out Of Circulation

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