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Grok, the artificial intelligence chatbot developed by Elon Musk's xAI, briefly halted responses that suggested he and Donald Trump were spreading misinformation. Now the startup has linked this action to an unauthorized modification by a former OpenAI employee now working at xAI.
What Happened: Users noticed that Grok refused to provide sources linking Musk and Trump to misinformation, following an unapproved change to the system prompt.
Igor Babuschkin, xAI's head of engineering, confirmed the issue, blaming an unnamed former OpenAI employee at xAI for making the adjustment without authorization.
Read Next: <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>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The employee that made the change was an ex-OpenAI employee that hasn&#39;t fully absorbed xAI&#39;s culture yet &#x1f62c;
&mdash; Igor Babuschkin (@ibab) <a href="https://twitter.com/ibab/status/1893774017376485466?ref_src=twsrc%5Etfw">February 23, 2025</a></blockquote>
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"An employee pushed the change because they thought it would help, but this is obviously not in line with our values," Babuschkin said in response to questions on X.
He added that Grok's system prompt is publicly visible "because we believe users should be able to see what it is we're asking Grok."
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">You are over-indexing on an employee pushing a change to the prompt that they thought would help without asking anyone at the company for confirmation. We do not protect our system prompts for a reason, because we believe users should be able to see what it is we&#39;re asking Grok…
&mdash; Igor Babuschkin (@ibab) <a href="https://twitter.com/ibab/status/1893778039634563094?ref_src=twsrc%5Etfw">February 23, 2025</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I believe it is good that we&#39;re keeping the system prompts open. We want people to be able to verify what it is we&#39;re asking Grok to do. In this case an employee pushed the change because they thought it would help, but this is obviously not in line with our values. We&#39;ve…
&mdash; Igor Babuschkin (@ibab) <a href="https://twitter.com/ibab/status/1893778842399154463?ref_src=twsrc%5Etfw">February 23, 2025</a></blockquote>
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The development was first <a href="https://www.theverge.com/news/618109/grok-blocked-elon-musk-trump-misinformation">reported</a> by The Verge.
Why It Matters: Musk has long touted Grok as a "<a href="https://www.benzinga.com/news/24/05/39004912/elon-musks-ai-startup-xai-nears-24b-valuation-aims-for-6-5b-funding-round-report">maximally truth-seeking</a>" AI, designed to offer uncensored information. However, this isn't the first time xAI engineers have intervened in Grok's responses.
Musk's team previously had to block Grok from stating that Musk and Trump deserved the death penalty.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Jesus Christ dude, what did Musk create lol <a href="https://t.co/GDN96nKgX0">pic.twitter.com/GDN96nKgX0</a>
&mdash; Hunter&#x1f4c8;&#x1f308;&#x1f4ca; (@StatisticUrban) <a href="https://twitter.com/StatisticUrban/status/1892986751368515679?ref_src=twsrc%5Etfw">February 21, 2025</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Really terrible and bad failure from Grok. We have patched it like this for now until we finish our investigation of what went wrong here. <a href="https://t.co/QYQDtjLqeV">pic.twitter.com/QYQDtjLqeV</a>
&mdash; Igor Babuschkin (@ibab) <a href="https://twitter.com/ibab/status/1893035679464169971?ref_src=twsrc%5Etfw">February 21, 2025</a></blockquote>
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This came after xAI last week released Grok 3, introducing advanced AI features, including image analysis. Grok has also overtaken OpenAI&#8217;s ChatGPT, Google Gemini, and China&#8217;s DeepSeek to become the <a href="https://in.benzinga.com/tech/25/02/43841642/elon-musks-grok-overtakes-openais-chatgpt-google-gemini-and-chinas-deepseek-as-the-leading-productivity-app-on-apples-app-store">leading productivity app</a> on the App Store.
Grok 3 is now accessible to Premium+ subscribers on X, Musk&#8217;s social media platform. xAI also plans to launch a new subscription tier, SuperGrok, for users accessing the chatbot via its mobile app and Grok.com.
Musk&#8217;s AI venture in November 2024 achieved a <a href="https://www.benzinga.com/24/11/42022077/elon-musks-xai-seeks-6b-at-50b-valuation-to-acquire-100k-nvidia-chips-for-memphis-data-center">valuation of $50 billion</a>.
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/tech/25/02/43772135/ex-openai-chief-scientist-ilya-sutskevers-ai-startup-valued-at-30-billion-in-latest-funding-round-report" target="_blank" rel="noreferrer noopener">Ex-OpenAI Chief Scientist Ilya Sutskever's AI Startup Valued At $30 Billion In Latest Funding Round: Report</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Tech

Elon Musk's Grok AI Silences Trump, Tesla CEO's Misinformation Claims, Then Backtracks — xAI Blames Former OpenAI Employee

The cryptocurrency market encountered headwinds last week, although a few under-the-radar coins notched up significant gains.&nbsp;
What happened: IP, the native token of Layer-1 blockchain Story, powered above the rest of the market with a whopping 138% jump last week.&nbsp;
Launched just 10 days ago, the token spawned a billion-dollar valuation last week, cruising to a peak value of $7.11.
The blockchain project helps creators register, license, and monetize their intellectual property assets, with IP used for paying transaction fees.
S, the native token of the high-speed blockchain platform Sonic, came a distant second, surging 58% over the week. The coin has been on an upward curve in February, up over 56% over the last month.
Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)-based MKR token, serving as the utility and governance token of stablecoin issuing protocol Maker, rallied 53% to become the third-most successful coin last week.&nbsp;
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<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price&nbsp;</td>
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<td>Story (IP)</td>
<td>+138.85%</td>
<td>$3.96</td>
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<td>Sonic (S)</td>
<td>+58.32%</td>
<td>$0.865</td>
</tr>
<tr>
<td>Maker (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/mkr/usd">MKR</a>)</td>
<td>+53.28%</td>
<td>$1,536</td>
</tr>
</tbody>
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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/markets/cryptocurrency/25/02/43826697/bitcoin-early-in-bull-market-can-compete-with-gold-etfs-blockstream-ceo-says">Bitcoin &#8216;Early In Bull Market,&#8217; Can Compete With Gold ETFs, Blockstream CEO Says</a>
Market barometer Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) contracted 0.83%, while ETH eked out a gain of 1.69%.&nbsp;
Other large-cap currencies like Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) and Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>) bled 13.57% and 8.56%, respectively. XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) also slipped 3.71%.
Popular meme coins like Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) were also hit by the bearish wave, slumping 12.50% and 6.52%, respectively.&nbsp;
The sentiment was majorly hit by the massive $1.4 billion ETH hack on cryptocurrency exchange Bybit, <a href="https://in.benzinga.com/markets/cryptocurrency/25/02/43901287/north-koreas-lazarus-group-suspected-in-1-4-billion-bybit-crypto-hack">allegedly executed</a> by North Korean state-backed actors.
Overall, the total cryptocurrency market capitalization contracted 1.8% over the week to $3.13 trillion.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43825637/donald-trump-says-us-is-successfully-negotiating-with-russia-over-ukraine-but-polymarket-traders-arent-convinced">Donald Trump Says US Is &#8216;Successfully Negotiating With Russia&#8217; Over Ukraine, But Polymarket Traders Aren&#8217;t Convinced</a></li>
</ul>
Photo courtesy: Shutterstock

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

Cryptocurrency

$ADA

$BTC

$DOGE

$ETH

$MKR

$SHIB

$SOL

$XRP

Bitcoin, Dogecoin Stumble, But This New Crypto Skyrockets 140% In A Week

Prominent economic commentator Noah Smith sparked debate over food affordability solutions, mocking suggested alternatives to eggs amid soaring prices. 
What Happened: &#8220;Trump&#8217;s economy: Who needs eggs when you can eat chickpeas instead,&#8221; Smith <a href="https://x.com/Noahpinion/status/1893735304235745773">wrote</a> on X on Sunday, responding to Fox News coverage recommending alternative protein sources as egg prices hit record levels.
Smith&#8217;s commentary targeted an article suggesting consumers turn to bananas and chickpeas for breakfast alternatives, as egg prices reached an unprecedented $4.95 per dozen in January. The suggestion comes as retailers nationwide grapple with supply shortages and <a href="https://in.benzinga.com/25/02/43709413/egg-prices-hit-record-highs-new-york-bodegas-get-creative-and-sell-three-packs-for-299">mounting consumer frustration</a>.
The price surge stems from a devastating two-year bird flu outbreak that killed approximately 17.2 million egg-laying hens in November and December alone. The U.S. Department of Agriculture projects another 20.3% price increase throughout 2025, compounding concerns about food inflation.
Brian Albrecht, Chief Economist at the International Center for Law &amp; Economics, attributed the rising egg prices primarily to a supply shock. &#8220;Lots seem to think monopoly power exacerbated the shock. It's taken for granted that's how it works,&#8221; he wrote on Tuesday.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The most obvious cause of rising egg prices is a supply shock. Lots of seem to think monopoly power exacerbated the shock. It's taken for granted that's how it works. We need to think through pass through more carefully<a href="https://t.co/XYXgmv3N1X">https://t.co/XYXgmv3N1X</a>
&mdash; Brian Albrecht (@BrianCAlbrecht) <a href="https://twitter.com/BrianCAlbrecht/status/1892937658009080063?ref_src=twsrc%5Etfw">February 21, 2025</a></blockquote>
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Scott Lincicome, Vice President for Economics and Trade at Duke Law School, dismissed claims of &#8220;greedflation&#8221; and &#8220;price gouging,&#8221; arguing that consumer demand — not sellers — is driving egg prices.
Citing a Wall Street Journal report, he noted that consumers are paying an average of $5 per dozen, while supermarkets, facing wholesale costs of $7 per dozen, are sometimes selling eggs at a loss. &#8220;It seems kind of odd that, in an industry with so many &#8216;monopolists,&#8217; supermarkets are doing this,&#8221; he remarked.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">tbh it seems kinds odd that, in an industry with so many &quot;monopolists,&quot; supermarkets are doing this
&mdash; Scott Lincicome (@scottlincicome) <a href="https://twitter.com/scottlincicome/status/1892310965477097876?ref_src=twsrc%5Etfw">February 19, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/25/02/43902384/trumps-tax-plans-gold-nears-3000-and-ray-dalios-solution-to-americas-debt-crisis-this-week-in-economics">Trump&#8217;s Tax Plans, Gold Nears $3000, And Ray Dalio&#8217;s Solution To America&#8217;s Debt Crisis: This Week In Economics</a>
Why It Matters: Amid the crisis, Trader Joe&#8217;s has emerged as a price leader, maintaining dozens at $3.49 through <a href="https://in.benzinga.com/news/25/02/43835457/retail-expert-says-trader-joes-is-the-clear-winner-for-cheap-eggs-as-prices-rise-heres-how-theyre-doing-it">direct supplier relationships</a>. 
Major retailers have implemented purchase restrictions, with Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) limiting customers to two 60-count cartons and Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) capping purchases at two dozen per visit. Some New York bodegas now sell individual eggs as dozens reach $10 in certain areas.
The national average egg price has <a href="https://in.benzinga.com/news/25/02/43835457/retail-expert-says-trader-joes-is-the-clear-winner-for-cheap-eggs-as-prices-rise-heres-how-theyre-doing-it">surged 65% from last year</a>, according to the U.S. Bureau of Labor Statistics, with January&#8217;s 15.2% increase driving nearly two-thirds of monthly grocery cost increases. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/02/43904932/warren-buffett-favors-5-treasury-bills-over-buybacks-as-berkshire-hathaways-cash-pile-surges-the-rate-of-change-thats-most-telling-says-lawrence-mcdonald">Warren Buffett Favors 5% Treasury Bills Over Buybacks As Berkshire Hathaway&#8217;s Cash Pile Balloons To $334 Billion: &#8216;The Rate Of Change… That&#8217;s Most Telling,&#8217; Says Expert</a></li>
</ul>
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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.

Economics

Trump Promised To Bring Food, Egg Prices Under Control Starting Day One, But They Are Still High: Expert Mocks Alternatives Being Suggested

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) may soon integrate 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 Gemini into Siri.
What Happened: Apple Intelligence, introduced with iOS 18, currently allows Siri to direct requests to OpenAI's ChatGPT for more contextual responses.
A new backend update in iOS 18.4 beta, discovered by code researcher Aaron Perris on X, now includes references to both "Google" and "OpenAI" under third-party AI model options.
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&#8217;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&#8217;</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Apple&#39;s backend has revealed that the next 3rd party iOS-AI integration will be Google Gemini <a href="https://t.co/0rIuJhT5Lj">pic.twitter.com/0rIuJhT5Lj</a>
&mdash; Aaron (@aaronp613) <a href="https://twitter.com/aaronp613/status/1893058313316671627?ref_src=twsrc%5Etfw">February 21, 2025</a></blockquote>
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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: Last year in June at the <a href="https://www.benzinga.com/news/24/06/39256948/tim-cook-announces-apple-intelligence-for-iphones-calls-it-next-big-step-tremendously-excited">WWDC24</a>, Apple software executive Craig Federighi hinted that Apple may <a href="https://www.benzinga.com/news/24/06/39271592/apple-may-introduce-google-gemini-ai-model-for-iphone-mac-and-ipad-says-craig-federighi">integrate other AI models</a>, including Google Gemini.
While the leak doesn't confirm an immediate rollout, it suggests that Gemini integration could arrive in a later iOS 18 update or possibly iOS 19. Apple is also expected to launch its own AI-driven <a href="https://www.benzinga.com/24/11/42183616/apple-could-delay-key-ios-19-features-plans-shifting-to-staggered-rollouts-with-2026-siri-overhaul-and-more">Siri model with iOS 19</a>.
In January, it was reported that <a href="https://in.benzinga.com/analyst-ratings/analyst-color/25/02/43655603/apple-finds-its-ai-wingman-in-alibaba-can-it-power-an-iphone-comeback-in-china">Apple decided to collaborate</a> with Alibaba Group Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) to enhance AI features in China. This partnership could help Apple regain its competitive edge in the Chinese market.
Meanwhile, Google in <a href="https://www.benzinga.com/24/12/42446686/google-introduces-ai-agent-prototype-that-can-browse-the-web">December introduced</a> Gemini 2.0, Veo 2, and Imagen 3 for video and image generation, alongside a quantum computing breakthrough with its Willow chip.
Last month, CEO Sundar Pichai also hinted that Google could soon explore <a href="https://in.benzinga.com/25/02/43488268/googles-gemini-ai-could-soon-include-adssundar-pichai-hints-at-future-monetization-beyond-subscriptions">monetization strategies</a> for its Gemini AI, including the potential introduction of ads.
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:
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<li><a href="https://www.benzinga.com/25/02/43487551/sundar-pichai-acknowledges-deepseeks-ai-advancementsbut-says-googles-gemini-still-leads-in-cost-performance-and-l" target="_blank" rel="noreferrer noopener">Sundar Pichai Downplays DeepSeek Threat — Google's Gemini Still Leads In Cost, Performance, And Latency</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

AAPL

BABA

GOOG

GOOGL

Apple May Soon Integrate Google's Gemini In Siri, Shows iOS 18.4 Leak

Rapper Ye, formerly known as Kanye West, continued to confuse the cryptocurrency community through his erratic social media behavior and mixed signals about his meme coin project.
What happened: The controversial hip-hop artist wrote in an X post, "I need my own blockchain" on Sunday,&nbsp; amid growing speculation about his official cryptocurrency launch.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I need my own blockchain
&mdash; ye (@kanyewest) <a href="https://twitter.com/kanyewest/status/1893745092671709263?ref_src=twsrc%5Etfw">February 23, 2025</a></blockquote>
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Ye also reposted several of Changpeng Zhao's posts during the weekend, suggesting that the new meme coin could be based on the BNB Chain (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>). 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">That one retweet got him to 33.2m followers? wow. &#x1f914; <a href="https://t.co/IXz4eweQcc">https://t.co/IXz4eweQcc</a>
&mdash; CZ &#x1f536; BNB (@cz_binance) <a href="https://twitter.com/cz_binance/status/1893367379511402607?ref_src=twsrc%5Etfw">February 22, 2025</a></blockquote>
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But inexplicably, Ye unfollowed Zhao and started following Olaf Carlson-Wee, founder of cryptocurrency investment firm Polychain.
Moreover, all his previous posts, teasing the upcoming launch, were deleted as of this writing.&nbsp;
Ye didn't immediately respond to Benzinga's request for comment.
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/markets/cryptocurrency/25/02/43826697/bitcoin-early-in-bull-market-can-compete-with-gold-etfs-blockstream-ceo-says">Bitcoin &#8216;Early In Bull Market,&#8217; Can Compete With Gold ETFs, Blockstream CEO Says</a>
Why It Matters: Reports emerged earlier this week that Ye would launch a cryptocurrency called YZY, <a href="https://in.benzinga.com/markets/cryptocurrency/25/02/43879013/after-im-a-nazi-rant-on-x-kanye-west-is-reportedly-considering-a-token-after-all">intending to serve</a> as the official currency of his Yeezy brand.
Should the music artist follow this course, it would mean a <a href="https://in.benzinga.com/25/02/43583457/kanye-west-has-no-plans-of-introducing-his-meme-coin-coins-prey-on-the-fans-with-hype">departure from his recent stance</a>, in which he rejected plans to launch his meme coin and criticized celebrity-backed tokens.
Ye&#8217;s controversial opinions have impacted his business. Recently, Shopify&nbsp;removed his online store after he listed products featuring offensive symbols.&nbsp;
Meme coins, launched by influential people, have been a flavor in the ongoing season, headlined by the <a href="https://in.benzinga.com/25/02/43425958/late-trump-memecoin-sale-costs-trader-33-million-in-potential-gains">high-profile launch</a> of Official Trump (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) by President Donald Trump. The tokenomics and the wild fluctuations, however, have attracted criticism.&nbsp;
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43825637/donald-trump-says-us-is-successfully-negotiating-with-russia-over-ukraine-but-polymarket-traders-arent-convinced">Donald Trump Says US Is &#8216;Successfully Negotiating With Russia&#8217; Over Ukraine, But Polymarket Traders Aren&#8217;t Convinced</a></li>
</ul>
Photo courtesy: Shutterstock

Entertainment

$BNB

$TRUMP

Kanye West Deletes X Posts On Potential Meme Coin, Unfollows Changpeng Zhao — What's He Upto?

Bybit said on Sunday it froze $42.89 million of the hacked funds thanks to the efforts of multiple parties as the cryptocurrency exchange shores up its reserves after the shocking $1.4 billion exploit.
What Happened: Bybit announced via X that it was successful in restricting hackers&#8217; ability to move the funds, a day after hackers stole&nbsp;over $1.4 billion worth of&nbsp;Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and related tokens.
This was made possible due to the coordinated efforts of multiple teams including stablecoin issuers like Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>), Circle (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>), the Avalanche ecosystem (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/avax/usd">AVAX</a>), and cryptocurrency exchange Bitget, among others.
<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 coordinated effort led to the freezing of $42.89M in just one day. Thanks to the following teams for their swift action: <a href="https://twitter.com/Tether_to?ref_src=twsrc%5Etfw">@Tether_to</a>: Flagged address and froze 181K USDT <a href="https://twitter.com/THORChain?ref_src=twsrc%5Etfw">@THORChain</a>: Blocked the blacklist <a href="https://twitter.com/ChangeNOW_io?ref_src=twsrc%5Etfw">@ChangeNOW_io</a>: Froze 34 ETH <a href="https://twitter.com/FixedFloat?ref_src=twsrc%5Etfw">@FixedFloat</a>: Froze 120K USDC + USDT…
&mdash; Bybit (@Bybit_Official) <a href="https://twitter.com/Bybit_Official/status/1893687749229563958?ref_src=twsrc%5Etfw">February 23, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Furthermore, the exchange thanked Lily Liu, President of&nbsp;the Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) Foundation, and meme coin launchpad Pump.fun for their &#8220;swift action&#8221; in blocking a Solana-based token whose creator might be affiliated with the group behind the Bybit exploit.
<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">Thanks to <a href="https://twitter.com/calilyliu?ref_src=twsrc%5Etfw">@caLilyLiu</a> and the <a href="https://twitter.com/pumpdotfun?ref_src=twsrc%5Etfw">@pumpdotfun</a> team for taking swift action to block and remove a Solana-based token whose creator may be affiliated with hacker groups, ensuring the security of the ecosystem. This is a great example of proactive security in action
&mdash; Bybit (@Bybit_Official) <a href="https://twitter.com/Bybit_Official/status/1893689554202157249?ref_src=twsrc%5Etfw">February 23, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also:<a href="https://www.benzinga.com/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/markets/cryptocurrency/25/02/43826697/bitcoin-early-in-bull-market-can-compete-with-gold-etfs-blockstream-ceo-says">Bitcoin &#8216;Early In Bull Market,&#8217; Can Compete With Gold ETFs, Blockstream CEO Says</a>
Meanwhile, the exchange has &#8220;nearly closed the gap&#8221; after receiving 446,870 ETH, worth $1.23 billion, through loans, whale deposits, and ETH purchases, according to Lookonchain. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Since being hacked, <a href="https://twitter.com/hashtag/Bybit?src=hash&amp;ref_src=twsrc%5Etfw">#Bybit</a> has received ~446,870 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($1.23B) through loans, whale deposits, and ETH purchases.<a href="https://twitter.com/hashtag/Bybit?src=hash&amp;ref_src=twsrc%5Etfw">#Bybit</a> has nearly closed the gap. <a href="https://t.co/0oz3ytLi4X">pic.twitter.com/0oz3ytLi4X</a>
&mdash; Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1893852261027140041?ref_src=twsrc%5Etfw">February 24, 2025</a></blockquote>
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Why It Matters: The cryptocurrency market came in for a big jolt Friday after North Korea's infamous&nbsp;Lazarus Group allegedly hacked over a billion dollars worth of ETH from popular exchange Bybit, <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43901287/north-koreas-lazarus-group-suspected-in-1-4-billion-bybit-crypto-hack">marking the biggest cryptocurrency heist</a> ever recorded.
Following the hack, Bybit launched a recovery bounty program, offering up to 10% of the recovered funds as a reward to cybersecurity experts who assist in retrieving the stolen assets.&nbsp;
Bybit continues processing withdrawals, securing liquidity through a bridge loan covering 80% of the stolen Ethereum to ensure customers' funds remain safe.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43825637/donald-trump-says-us-is-successfully-negotiating-with-russia-over-ukraine-but-polymarket-traders-arent-convinced">Donald Trump Says US Is &#8216;Successfully Negotiating With Russia&#8217; Over Ukraine, But Polymarket Traders Aren&#8217;t Convinced</a></li>
</ul>
Photo courtesy: Shutterstock

$AVAX

$USDC

$USDT

Bybit Nears Recovery After Crypto Heist: Freezes $42.89 Million In Stolen Funds, Secures $1.23 Billion In ETH Through Whales And Loans

ByteDance Ltd., the owner of TikTok, has reportedly seen its valuation climb past $400 billion, driven by major investors like SoftBank Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>), Fidelity, and T. Rowe Price (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TROW#NASDAQ">TROW</a>).
What Happened: At least three major investors have marked up ByteDance's valuation, with Fidelity estimating it at more than $410 billion and T. Rowe Price at over $450 billion.
SoftBank's Vision Fund has also revised its valuation to exceed $400 billion, factoring in the growth potential of ByteDance's AI business, Doubao, <a href="https://www.bloomberg.com/news/articles/2025-02-21/softbank-fidelity-t-rowe-value-bytedance-at-above-400-billion?srnd=phx-technology">reported</a> Bloomberg, citing people familiar with the matter.
See Also: <a href="https://www.benzinga.com/tech/25/02/43876492/apples-visual-intelligence-may-come-to-iphone-15-pro-heres-how-it-can-transform-your-camera-with-ai-powered-real-time-search">Apple&#8217;s Visual Intelligence May Come To iPhone 15 Pro: Here&#8217;s How It Can Transform Your Camera With AI-Powered Real-Time Search</a>
SoftBank's valuation model assigns zero value to <a href="https://in.benzinga.com/markets/25/02/43724471/tiktok-returns-to-apple-and-google-app-stores-after-a-month-long-hiatus">TikTok's U.S. operations</a>, reflecting ongoing regulatory threats. If TikTok avoids a shutdown in the U.S., ByteDance's valuation could rise even further, the report noted, citing a source.
The increase comes amid a broader rally in Chinese tech stocks, driven by optimism <a href="https://www.benzinga.com/markets/25/02/43878215/chinas-deepseek-to-open-source-key-code-repositories-in-a-bid-for-full-transparency">around AI startup</a> DeepSeek and a more favorable regulatory environment in China.
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: ByteDance's valuation surge highlights the growing importance of AI in the global tech sector, even as geopolitical tensions cloud its U.S. business prospects.
Investors are betting on ByteDance's AI leadership in China, where Doubao has 75 million active users.
In October 2023, ByteDance valued <a href="https://www.benzinga.com/news/24/11/42027476/bytedance-valuation-soars-to-300b-despite-threat-of-us-tiktok-ban">itself at around $225 billion</a>. This rose to $268 billion after a buyback in December 2023.
ByteDance investors see Donald Trump's return to the White House as a good sign for TikTok in the U.S. Although Trump once backed a ban on the app, he changed his position during his campaign.
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://in.benzinga.com/markets/25/02/43840286/apples-iphone-16e-to-drive-revenue-growth-for-tim-cooks-company-says-top-analyst" target="_blank" rel="noreferrer noopener">Apple's iPhone 16e To Drive Revenue Growth For Tim Cook's Company, Says Top Analyst</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Media

SFTBF

SFTBY

TROW

ByteDance's AI Business Helps Boost Valuation Past $400 Billion Even As US TikTok Business Risks Loom

The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index moved to the &#8220;Fear&#8221; zone on Friday.
U.S. stocks settled lower on Friday, with the Dow Jones index dipping more than 700 points during the session.
The University of Michigan consumer sentiment index fell to 64.7 in January, a decline of 10% and a steeper drop than expected. The 5-year inflation outlook in the survey is the highest since 1995 at 3.5%. Existing home sales sank by 4.9% to a seasonally adjusted rate of 4.08 million in January, the sharpest decline in seven months, according to Trading Economics.
February&#8217;s flash S&amp;P Global PMIs released Friday morning revealed a sharp, unexpected drop in services and raised concerns about the health of the private sector.
Shares of UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) slumped around 7% on Friday after the Wall Street Journal reported the Department of Justice launched an investigation into the company's Medicare billing practices.
Most sectors on the S&amp;P 500 closed on a negative note, with information technology, consumer discretionary, and industrials stocks recording losses on Friday. However, consumer staples stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 749 points to 43,428.02 on Friday. The S&amp;P 500 fell 1.71% to 6,013.13, while the Nasdaq Composite fell 2.20% at 19,524.01 during Friday's session.
Investors are awaiting earnings results from Owens Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OC#NYSE">OC</a>), Domino&#8217;s Pizza Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NASDAQ">DPZ</a>), and Westlake Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WLK#NYSE">WLK</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 35.4, the index moved to the &#8220;Fear&#8221; zone on Friday, versus a prior reading of 45.1.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
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<li><a href="https://www.benzinga.com/25/02/43891623/top-2-health-care-stocks-that-may-rocket-higher-this-month">Top 2 Health Care Stocks That May Rocket Higher This Month</a></li>
</ul>
Photo courtesy: Shutterstock

Long Ideas

Pre-Market Outlook

Dow Tumbles Over 700 Points Following Weak Economic Data: Investor Sentiment Declines, Greed Index Moves To 'Fear' Zone

Berkshire Hathaway Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) share repurchases have dropped dramatically as Warren Buffett appears to prefer 5% Treasury bills over <a href="https://www.benzinga.com/news/earnings/25/02/43903272/buffetts-assures-berkshire-hathaway-shareholders-amid-skyrocketing-cash-reserves">buying back company stock</a>.
What Happened: Berkshire&#8217;s buybacks fell to $2.9 billion in 2024 from $9.2 billion in 2023 and $7.9 billion in 2022, Bear Traps Report founder Lawrence McDonald noted on Sunday on X. This decline comes as the conglomerate&#8217;s cash reserves have surged nearly 300% since 2022, reaching $334 billion by 2025.
&#8220;It&#8217;s NOT the size of the cash hoard, it&#8217;s the &#8216;rate of change&#8217; in the size of the cash that&#8217;s most telling,&#8221; McDonald wrote, highlighting Berkshire&#8217;s rapidly growing cash position from $109 billion in 2022 to $277 billion in 2024.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Berkshire &#8211; share repurchases &#8211; Buffett's actions are telling, indeed… 2024: $2.9B 2023: $9.2B 2022: $7.9B With <a href="https://twitter.com/DrDavidKass?ref_src=twsrc%5Etfw">@DrDavidKass</a>
&mdash; Lawrence McDonald (@Convertbond) <a href="https://twitter.com/Convertbond/status/1893403416849773019?ref_src=twsrc%5Etfw">February 22, 2025</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It's NOT the size of the cash hoard, it's the "rate of change" in the size of the cash that's most telling. <a href="https://t.co/NouUJot9SN">https://t.co/NouUJot9SN</a>
&mdash; Lawrence McDonald (@Convertbond) <a href="https://twitter.com/Convertbond/status/1893396250273140790?ref_src=twsrc%5Etfw">February 22, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/news/25/02/43902384/trumps-tax-plans-gold-nears-3000-and-ray-dalios-solution-to-americas-debt-crisis-this-week-in-economics">Trump&#8217;s Tax Plans, Gold Nears $3000, And Ray Dalio&#8217;s Solution To America&#8217;s Debt Crisis: This Week In Economics</a>
Why It Matters: The 94-year-old Buffett addressed these trends in his annual letter to shareholders on Saturday, reaffirming his commitment to business ownership <a href="https://www.benzinga.com/news/earnings/25/02/43903272/buffetts-assures-berkshire-hathaway-shareholders-amid-skyrocketing-cash-reserves">despite the record cash pile</a>. He assured investors that Berkshire would &#8220;forever deploy a substantial majority of their money in equities — mostly American equities.&#8221;
The surge in cash reserves comes as Berkshire has reduced stakes in several companies, including Citigroup and Bank of America while reinvesting proceeds into Treasury bills. Buffett cited improved Treasury yields as a factor, though he warned that fixed-coupon bonds offer no protection against currency devaluation.
The shifting allocation strategy reflects both current market conditions and Buffett&#8217;s cautious outlook. With U.S. stocks at record valuations, the legendary investor has found it challenging to identify attractive acquisition targets, leading to the unprecedented accumulation of cash equivalents despite his historical preference for owning businesses outright.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/02/43904642/peter-schiff-slams-feds-2-inflation-target-for-the-first-99-years-the-unofficial-target-was-zero-amid-jerome-powells-inflation-concerns">Peter Schiff Slams Fed&#8217;s 2% Inflation Target: &#8216;For The First 99 Years… The Unofficial Target Was Zero&#8217; Amid Jerome Powell&#8217;s Inflation Concerns</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.

Warren Buffett Favors 5% Treasury Bills Over Buybacks As Berkshire Hathaway's Cash Pile Balloons To $334 Billion: 'The Rate Of Change… That's Most Telling,' Says Expert

With U.S. stock futures trading mixed this morning on Monday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Owens Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OC#NYSE">OC</a>) to report quarterly earnings at $2.90 per share on revenue of $2.77 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Owens Corning shares gained 0.01% to $165.47 in after-hours trading.</li>
<li>Analysts expect Domino&#8217;s Pizza Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NASDAQ">DPZ</a>) to post quarterly earnings at $4.91 per share on revenue of $1.48 billion. The company will release earnings before the markets open. Domino&#8217;s shares fell 2% to close at $462.37 on Friday.</li>
<li>Hawaiian Electric Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HE#NYSE">HE</a>) posted a loss of 40 cents per share for the fourth quarter, versus earnings of 44 cents per share in the year-ago period. The company's sales fell to $799.18 million from $853.42 million. Hawaiian Electric shares fell 2.7% to $10.47 in the after-hours trading session.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>After the markets close, ONEOK Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>) is projected to report quarterly earnings at $1.51 per share on revenue of $6.73 billion. ONEOK shares fell 0.1% to $97.97 in after-hours trading.</li>
<li>Analysts expect Westlake Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WLK#NYSE">WLK</a>) to post quarterly earnings at $1.09 per share on revenue of $2.94 billion before the opening bell. Westlake shares fell 1.5% to close at $109.71 on Friday.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/25/02/43891623/top-2-health-care-stocks-that-may-rocket-higher-this-month">Top 2 Health Care Stocks That May Rocket Higher This Month</a></li>
</ul>
Photo courtesy: Shutterstock

Earnings

Owens Corning, Domino's Pizza And 3 Stocks To Watch Heading Into Monday

U.S. stocks settled lower on Friday, with the Dow Jones index dipping more than 700 points during the session. The S&amp;P 500 also fell 1.71% to 6,013.13, while the Nasdaq Composite declined 2.20% at 19,524.01 during Friday's session.
Wall Street analysts make new stock picks on a daily basis. Unfortunately for investors, not all analysts have particularly impressive track records at predicting market movements. Even when it comes to one single stock, analyst ratings and price targets can vary widely, leaving investors confused about which analyst&#8217;s opinion to trust.
Benzinga&#8217;s Analyst Ratings API is a collection of the highest-quality stock ratings curated by the Benzinga news desk via direct partnerships with major sell-side banks. Benzinga displays overnight ratings changes on a daily basis three hours prior to the U.S. equity market opening. Data specialists at investment dashboard provider Toggle.ai recently uncovered that the analyst insights Benzinga Pro subscribers and Benzinga readers regularly receive can successfully be used as trading indicators to outperform the stock market.
Top Analyst Picks: Fortunately, any Benzinga reader can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. One of the ways traders can sort through Benzinga&#8217;s extensive database of analyst ratings is by analyst accuracy. Here&#8217;s a look at the most recent stock picks from each of the five most accurate Wall Street analysts, according to Benzinga <a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock</a> Ratings.
Analyst: Lloyd Walmsley
<ul>
<li>Analyst Firm: UBS</li>
<li>Ratings Accuracy: 86%</li>
<li>Latest Rating: Maintained a Buy rating on Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>) and raised the price target from $5,560 to $5,960 on Feb. 21. This analyst sees around 20% upside in the stock.</li>
<li>Recent News: On Feb. 20, Booking Holdings reported better-than-expected fourth-quarter financial results and raised its quarterly dividend.</li>
</ul>
Analyst: Mark Kelley
<ul>
<li>Analyst Firm: Stifel</li>
<li>Ratings Accuracy: 86%</li>
<li>Latest Rating: Maintained a Hold rating on Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>) and slashed the price target from $47 to $46 on Feb. 21. This analyst sees around 9% surge in the stock.</li>
<li>Recent News: On Feb. 20, the company reported fourth-quarter adjusted earnings per share of 25 cents loss.</li>
</ul>
Analyst: Doug Anmuth 
<ul>
<li>Analyst Firm: JP Morgan</li>
<li>Ratings Accuracy: 86%</li>
<li>Latest Rating: Maintained an Underweight rating on Tripadvisor, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRIP#NASDAQ">TRIP</a>) and raised the price target from $14 to $15 on Feb. 21. This analyst sees around 1% downside in the stock.</li>
<li>Recent News: On Feb. 20, TripAdvisor posted upbeat quarterly results.</li>
</ul>
Analyst: Alexander Paris
<ul>
<li>Analyst Firm: Barrington Research</li>
<li>Ratings Accuracy: 86%</li>
<li>Latest Rating: Maintained an Outperform rating on Lincoln Educational Services Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LINC#NASDAQ">LINC</a>) with a price target of $20 on Feb. 19. This analyst sees around 22% surge in the stock.</li>
<li>Recent News: On Feb. 18, Lincoln Educational Services said it will host a conference call to discuss its fourth quarter and year-end financial results on Monday, Feb. 24.</li>
</ul>
Analyst: William Stein
<ul>
<li>Analyst Firm: Truist Securities</li>
<li>Ratings Accuracy: 85%</li>
<li>Latest Rating: Maintained a Hold rating on Analog Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADI#NASDAQ">ADI</a>) and raised the price target from $230 to $248 on Feb. 20. This analyst sees around 4% upside in the stock.</li>
<li>Recent News: On Feb. 19, the company said its first-quarter revenue declined 4% year-on-year to $2.42 billion, beating the analyst consensus estimate of $2.36 billion.</li>
</ul>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/25/02/43891623/top-2-health-care-stocks-that-may-rocket-higher-this-month">Top 2 Health Care Stocks That May Rocket Higher This Month</a></li>
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Price Target

BKNG

LINC

TRIP

This Analyst With 86% Accuracy Rate Sees Around 20% Upside In Booking Holdings - Here Are 5 Stock Picks For Last Week From Wall Street's Most Accurate Analysts

Domino&#8217;s Pizza, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NASDAQ">DPZ</a>) will release its fourth-quarter financial results, before the opening <a href="https://www.benzinga.com/quote/DPZ/earnings">bell, on Monday, Feb. 24, 2025.</a>
Analysts expect the Ann Arbor, Michigan-based company to report quarterly earnings at $4.91 per share, up from $4.48 per share in the year-ago period. Domino&#8217;s projects quarterly revenue of $1.48 billion, compared to $1.4 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Oct. 10, the company reported sales growth of 5.1% Y/Y to $1.08 billion, missing the analyst consensus estimate of $1.10 billion. EPS of $4.19 beat the consensus estimate of $3.68.
Domino&#8217;s shares fell 2% to close at $462.37 on Friday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/DPZ/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Citigroup analyst Jon Tower maintained a Neutral rating and raised the price target from $440 to $520 on Feb. 19, 2025. This analyst has an accuracy rate of 72%.</li>
<li>Barclays analyst Jeffrey Bernstein maintained an Underweight rating and lowered the price target from $412 to $402 on Jan. 24, 2025. This analyst has an accuracy rate of 64%.</li>
<li>Morgan Stanley analyst Brian Harbour maintained an Overweight rating and cut the price target from $510 to $496 on Jan. 21, 2025. This analyst has an accuracy rate of 65%.</li>
<li>Oppenheimer analyst Brian Bittner maintained an Outperform rating and raised the price target from $490 to $495 on Jan. 7, 2025. This analyst has an accuracy rate of 66%.</li>
<li>TD Cowen analyst Andrew Charles maintained a Buy rating and raised the price target from $475 to $515 on Nov. 25, 2024. This analyst has an accuracy rate of 73%.</li>
</ul>
Considering buying DPZ stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="613" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/23131450/image-183-1024x613.png" alt="" class="wp-image-794262" style="width:597px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/23131450/image-183-1024x613.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/23131450/image-183-300x179.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/23131450/image-183-768x459.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/23131450/image-183.png 1115w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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<li> <a href="https://www.benzinga.com/25/02/43891623/top-2-health-care-stocks-that-may-rocket-higher-this-month">Top 2 Health Care Stocks That May Rocket Higher This Month</a></li>
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Domino's Gears Up For Q4 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

On Monday, Australia&#8217;s online safety regulator fined messaging platform Telegram about 1 million Australian dollars ($640,000) for failing to respond on time to an inquiry into measures preventing the <a href="https://www.benzinga.com/general/social-media/24/08/40563957/is-telegram-safer-than-whatsapp-or-signal-app-might-not-be-so-private-after-all-report">spread of child abuse</a> and extremist content.
What Happened: The eSafety Commission had <a href="https://www.benzinga.com/government/24/05/38751844/australia-calls-for-inquiry-into-metas-facebook-elon-musks-x-tiktok-to-make-these-platforms-accounta">requested information</a> from Telegram and Reddit about their efforts in combating child sexual abuse material and extremist activities.
Telegram was expected to respond by May but only submitted its answers in October, reported Reuters.
"Timely transparency is not a voluntary requirement in Australia, and this action reinforces the importance of all companies complying with Australian law," eSafety Commissioner Julie Inman Grant said in a statement.
See Also: <a href="https://www.benzinga.com/tech/25/02/43840109/google-takes-away-gemini-from-main-ios-app-users-forced-to-download-standalone-ai-chatbot">Google Takes Away Gemini From Main iOS App, Users Forced To Download Standalone AI Chatbot</a>
She added that Telegram's delay obstructed the regulator's ability to enforce online safety measures.
Telegram defended itself, stating it had fully answered all of eSafety's questions last year. "The unfair and disproportionate penalty concerns only the response timeframe, and we intend to appeal," the company told the publication.
Telegram did not immediately respond to&nbsp;<a href="https://pro.benzinga.com/dashboard">Benzinga's</a> request for comments.
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: Last year, Telegram faced massive global scrutiny, when its founder Pavel Durov came <a href="https://www.benzinga.com/general/social-media/24/10/41145263/telegrams-pavel-durov-little-has-changed-in-privacy-policies-despite-legal-woes">under investigation in France</a> for alleged illegal activity on the platform.
Durov has denied the allegations. He is out on bail currently.
A <a href="https://www.benzinga.com/news/24/10/41221289/telegram-the-new-frontier-for-criminal-gangs-un-report-uncovers-alarming-trends-in-organized-crime">UN report</a> in October 2024 also identified Telegram as a major platform for criminal networks in Southeast Asia, involved in trading hacked data and selling cybercrime tools.
<a href="https://www.benzinga.com/news/24/09/40680081/alleged-deepfake-sex-crimes-south-korea-puts-telegram-under-the-microscope">South Korean authorities</a> have also been investigating the app for its alleged role in spreading explicit deepfake content.
The Australian government was also considering <a href="https://www.benzinga.com/news/24/09/40784803/after-feud-with-elon-musk-and-mark-zuckerberg-australian-pm-anthony-albanese-set-to-ban-social-media">banning social media for children</a> due to health concerns.
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&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.
Photo courtesy: Shutterstock

Social Media

Telegram Fined $640,000 By Australia For Delayed Response To Child Abuse, Terrorism Inquiry: 'Unfair And Disproportionate Penalty'

Leading coins remained weak on Sunday as the cryptocurrency market grappled with the massive $1.4 billion hack on cryptocurrency exchange Bybit.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-0.24%</td>
<td>$96,377.59</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+2.66%</td>
<td>$2,832.54</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-1.13%</td>
<td>$0.2435</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin meandered in the $95,000-$96,000 zone after retracing sharply from the mid-$99,000s following the <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43901287/north-koreas-lazarus-group-suspected-in-1-4-billion-bybit-crypto-hack">attack </a>on Friday.
The apex cryptocurrency has failed to reclaim $100,000 in the last three weeks.
Ethereum, the coin at the center of the mega breach, made amends, recovering to an intraday high of $2,850.&nbsp;
Cryptocurrency liquidations hit $131.20 million in the last 24 hours, wiping out $79 in upside bets.
Bitcoin's Open interest rose marginally by 0.75%. More than 50% of the derivatives traders were positioned short for the cryptocurrency, according to the Long/Short ratio, indicating a likelihood of more downsides.
The market sentiment was "Neutral," according to the Crypto Fear &amp; Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>Sonic (S)</td>
<td>+6.98%</td>
<td>$0.8629</td>
</tr>
<tr>
<td>Helium (HNT)</td>
<td>+6.12%</td>
<td>$3.77</td>
</tr>
<tr>
<td>Injective (INJ)</td>
<td>+5.45%</td>
<td>$16.08</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.19 trillion, contracting 0.27% in the last 24 hours.
Stock futures climbed on Sunday evening. The Dow Jones Industrial Average Futures rose 149 points, or 0.35%, as of 7:46 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 gained 0.41%, while Nasdaq 100 Futures lifted 0.44%.
Investors will be watching the all-important earnings report of artificial intelligence darling Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), slated for Wednesday.&nbsp;
In addition, the Federal Reserve&#8217;s favorite inflation gauge, the personal consumption expenditures index, will be released on Friday, providing cues about the central bank&#8217;s moves on interest rates.
Stocks reversed from record highs on Thursday. The S&amp;P 500 slid 0.43% to close at 6,117.52. The Dow Jones Industrial Average lost 450.94 points, or 1.01%, to end at 44,176.65, while the tech-focused Nasdaq Composite dipped 0.47% to close at 19,962.36
The sell-offs <a href="https://in.benzinga.com/news/earnings/25/02/43869433/walmart-expects-slower-growth-in-an-uncertain-time-cfo-says-on-earnings-call">followed a grim fiscal 2026 forecast</a> by mega-retailer Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>). Shares of the company plunged 6.53%.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Widely followed cryptocurrency analyst Miles Deutscher, citing data from derivative data analysis platform Coinglass, showed that none of Bitcoin's bull market peak indicators have yet been triggered.
"If BTC really was on the cusp of a multi-year top, you would expect at least a few of these signals to be flashing. There is still time left in the cycle imo," the analyst added.
<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">Not a single on-chain metric that has historically preceded a top for <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> was triggered this cycle. If <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> really was on the cusp of a multi-year top, you would expect at least a few of these signals to be flashing. There is still time left in the cycle imo. <a href="https://t.co/G8NWFNxVKp">pic.twitter.com/G8NWFNxVKp</a>
&mdash; Miles Deutscher (@milesdeutscher) <a href="https://twitter.com/milesdeutscher/status/1893677243677003801?ref_src=twsrc%5Etfw">February 23, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Gladiator, another well-known trader, noted a bull pennant developing on Bitcoin's weekly chart.
"This might take another month before breaking out, but when it happens, I will be ready," the trader predicted.
A bullish pennant pattern indicates a short break during an uptrend, after which the price resumes the rally.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> is developing a beautiful bull pennant on weekly chart. This might take another month before breaking out, but when it happens, I will be ready. I am fully ported in <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a>. When <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> breaks out of this bull flag, it is going to get crazy.<a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a> will finish this year over… <a href="https://t.co/f4ygqDszxf">pic.twitter.com/f4ygqDszxf</a>
&mdash; Gladiator (@GladiatorMSTR) <a href="https://twitter.com/GladiatorMSTR/status/1893819945731158395?ref_src=twsrc%5Etfw">February 24, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
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<li><a href="https://www.benzinga.com/25/02/43903598/bitcoin-enthusiast-proposes-ethereum-chain-rollback-post-14b-bybit-cyber-heist">Bitcoin Enthusiast Proposes Ethereum Chain Rollback Post $1.4B Bybit Cyber Heist</a></li>
</ul>
Photo courtesy:Shutterstock

Bitcoin, Dogecoin Struggle, Ethereum Gains Amid Grim Crypto Sentiment After Bybit's Billion-Dollar Hack: Analyst Says 'Still Time Left In The Cycle'

Economist Peter Schiff criticized the Federal Reserve&#8217;s 2% inflation target as a pretext for accommodative monetary policy, amid Fed Chair Jerome Powell&#8216;s recent congressional testimony highlighting <a href="https://www.benzinga.com/25/02/43668443/powell-to-congress-fed-is-not-there-yet-on-inflation-cpi-was-above-every-forecast-us-debt-path-is-unsustainable">persistent inflation concerns</a>.
What Happened: In a post on X on Sunday, Schiff argued that the Fed&#8217;s 2% target, introduced in 2012, served as justification for quantitative easing and zero interest rate policies. &#8220;For the first 99 years of the Fed&#8217;s existence, the unofficial target was zero, as the mandate was price stability,&#8221; Schiff wrote.
Former central banker Neil Grossman added historical context, noting that the 2% inflation concept originated with the Reserve Bank of New Zealand in 1995 before other central banks adopted it. Grossman suggested the Fed used this target to &#8220;ignore one leg of their statutory mandate.&#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">I believe the 2% inflation concept was introduced by the RBNZ in 1995 and slowly adopted by other CBs. In the Fed's case it was just another opportunity to ignore one leg of their statutory mandate (price stability) which as you point out is 0%. The dual mandate includes full…
&mdash; Neil Grossman (@Neilytics) <a href="https://twitter.com/Neilytics/status/1893742592271266217?ref_src=twsrc%5Etfw">February 23, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/personal-finance/25/02/43904075/warren-buffett-said-he-could-end-u-s-deficit-in-5-minutes-if-you-guys-cant-get-it-done-well-get-some-other-guys-to-get-it-done">Warren Buffett Said He Could End U.S. Deficit In 5 Minutes: &#8216;If You Guys Can&#8217;t Get It Done, We&#8217;ll Get Some Other Guys To Get It Done&#8217;</a>
Why It Matters: The criticism comes as Powell told Congress that inflation, currently at 3%, remains above the Fed&#8217;s target. &#8220;Today&#8217;s inflation print shows we&#8217;re close but not there yet,&#8221; Powell said during his House Financial Services Committee testimony. Core inflation, excluding food and energy, increased <a href="https://www.benzinga.com/25/02/43668443/powell-to-congress-fed-is-not-there-yet-on-inflation-cpi-was-above-every-forecast-us-debt-path-is-unsustainable">more than expected to 3.3%</a>.
Recent Fed minutes revealed officials see &#8220;a high degree of uncertainty&#8221; requiring a careful approach to rate decisions. Market participants are closely monitoring these developments, with major retailers like Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) expressing caution about economic uncertainties and <a href="https://in.benzinga.com/news/econ-s/25/02/43895372/walmarts-warning-fed-highlights-inflation-risks-chinese-stocks-surge-this-week-in-markets">persistent inflation pressures</a>.
Powell emphasized the Fed&#8217;s commitment to its restrictive stance, declining to specify an inflation threshold for rate cuts. He also raised concerns about the U.S. fiscal outlook, describing the current debt path as &#8220;unsustainable&#8221; given large <a href="https://www.benzinga.com/25/02/43668443/powell-to-congress-fed-is-not-there-yet-on-inflation-cpi-was-above-every-forecast-us-debt-path-is-unsustainable">deficits and low unemployment</a>.
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<li><a href="https://www.benzinga.com/news/25/02/43902384/trumps-tax-plans-gold-nears-3000-and-ray-dalios-solution-to-americas-debt-crisis-this-week-in-economics">Trump&#8217;s Tax Plans, Gold Nears $3000, And Ray Dalio&#8217;s Solution To America&#8217;s Debt Crisis: This Week In Economics</a></li>
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Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Peter Schiff Slams Fed's 2% Inflation Target: 'For The First 99 Years… The Unofficial Target Was Zero' Amid Jerome Powell's Inflation Concerns

A TikTok <a href="https://www.tiktok.com/@proudunionguy/video/7471336532293553451">video</a> by Proud Union Guy is getting a lot of attention for calling out &#8220;bootlickers&#8221;—those who defend corporate profits over fair wages and labor rights. The video has sparked intense discussions and over a thousand comments on Reddit and TikTok from people venting their grievances and experiences.
<h2 class="wp-block-heading">What's A Bootlicker?</h2>
According to Proud Union Guy, a &#8220;bootlicker&#8221; is someone who sides with corporations at the expense of workers. For example, he says that if you think record corporate profits are fine but get upset when <a href="https://www.benzinga.com/news/24/10/41303608/hundreds-of-hilton-hotel-workers-strike-at-seattle-airport-demand-higher-wages-and-reversal-of-covid">workers demand higher wages</a>, you might be a bootlicker. If you believe staying late without pay proves dedication instead of being exploited, same deal.&nbsp;
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Other signs include blaming high prices on worker pay instead of <a href="https://www.benzinga.com/government/24/05/38724294/biden-says-hes-already-turned-economy-around-blames-corporate-greed-for-persistently-high-inflation">greedy companies</a>, thinking unions have too much power while ignoring how big businesses control everything, or getting mad at workers on strike instead of the companies paying them unfairly.
<h2 class="wp-block-heading">Workers Are Weighing In</h2>
The video quickly took off, with many viewers agreeing and sharing stories of coworkers who fit the description. One <a href="https://www.reddit.com/r/UnitedAssociation/comments/1ippfvp/we_all_know_somebody_that_would_flunk_this_quiz/">Reddit</a> user commented, &#8220;I bet we all know a guy or two working after hours doing paperwork or taking phone calls.&#8221; Another pointed out, &#8220;My foreman at my last job told my partner and I that we should be grateful to have a job. Kind of funny since the only reason he was a foreman was through nepotism.&#8221;
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a>
One worker said, &#8220;Way too many trumpy guys in the unions voting for our own downfall because they've been poisoned by social media propaganda,&#8221; expressing their annoyance at coworkers who vote against their own interests. One user even &#8220;outed&#8221; their son as a bootlicker saying, &#8220;My dumbass kid is one of them. Funny thing is, I&#8217;m non-union ([International Brotherhood of Electrical Workers] is weak af where I live) but he&#8217;s [United Association of Journeymen and Apprentices of the Plumbing and Pipe Fitting Industry of the United States and Canada]. He drank the Kool aid and voted against his own self interests, despite me trying to talk him out of it. Now he&#8217;s all pissed because he feels lied to. I tried to tell ya kiddo.&#8221;
See Also: If there was a new fund backed by Jeff Bezos offering a <a href="https://www.benzinga.com/money/arrived-private-credit-fund">7-9% target yield with monthly dividends would you invest in it</a>?
<h2 class="wp-block-heading">Not Everyone Agrees</h2>
While the video got a lot of support, not everyone was on board. Some critics mocked the TikToker's delivery, pointing out his sunglasses, clean gear, and toothpick as signs of trying too hard. Others argued that unions sometimes protect <a href="https://www.benzinga.com/25/02/43723246/meta-faces-backlash-as-laid-off-workers-say-they-were-unfairly-targeted-despite-strong-performance-records">underperforming workers</a>, sharing their own negative experiences. A few even questioned the term &#8220;bootlicker,&#8221; noting that billionaires don't wear boots, so maybe &#8220;Italian shoe licker&#8221; would be more accurate.
Whether you agree with Proud Union Guy or not, the debate over labor rights and fair pay isn't going away. With corporations <a href="https://www.benzinga.com/government/regulations/25/02/43596413/corporate-americas-best-earnings-in-3-years-will-tariffs-end-wall-streets-honeymoon">raking in record profits</a> while many workers struggle, conversations about who benefits from the system—and who defends it—are bound to continue.
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DGRO

JEPI

MSFT

SCHD

'Are You A 'Bootlicker?' Viral Video Lists The Signs Of A Corporate Bootlicker, And People Are Calling Out Their Coworkers

<a href="https://www.benzinga.com/personal-finance/25/02/43718032/warren-buffett-was-asked-how-a-regular-person-gets-rich-he-detailed-exactly-how-hed-make-30-billion-starting-over-with-only-10000">Warren Buffett</a> back in 2011 made a bold <a href="https://www.cnbc.com/2011/07/07/warren-buffetts-5minute-plan-to-fix-the-deficit.html">claim on CNBC</a>. He said he could fix the U.S. deficit in five minutes. His idea? Make sure politicians actually feel the consequences of their spending habits.
"You just pass a law that says that any time there's a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election," Buffett said. He laughed, but his point was clear: politicians don't fix the deficit because there's no real incentive for them to do so. "A more effective threat would be just to say, ‘If you guys can't get it done, we'll get some other guys to get it done.'"
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Nearly 14 years later, the deficit hasn't just stuck around—it's ballooned. In 2011, the U.S. debt was around $14.3 trillion. As of 2025? It's now <a href="https://www.jec.senate.gov/public/vendor/_accounts/JEC-R/debt/Monthly%20Debt%20Update.html#:~:text=As%20of%20January%202025,%20of,16.75%25%20($4.84%20trillion).">past $36 trillion</a>, with an annual deficit projected at $2.84 trillion. If Buffett thought Washington was reckless in 2011, what would he say now?
<h2 class="wp-block-heading">Enter Trump and Musk: A New Plan to Cut the Deficit</h2>
In a move that nobody saw coming at the time, President Donald Trump—reelected in 2024—teamed up with billionaire Elon Musk to take a <a href="https://www.benzinga.com/news/25/02/43801493/this-says-it-all-says-mark-cuban-as-doge-website-was-still-blank-despite-musks-claim-that-all-department-actions-were-posted-there">swing at government inefficiency</a>. Their newly formed Department of Government Efficiency aims to trim federal spending by up to $2 trillion by July 4, 2026.
DOGE, which Musk himself is leading, has already started slashing budgets, focusing on programs under agencies like USAID and the Department of Health and Human Services. So far, their reported savings sit at $55 billion, a small dent in their massive goal — but it's only been four weeks.&nbsp;
Trending: Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/1milsaved"> The percentage may shock you</a>.
Trump, never one to shy away from bold claims, has praised Musk as the smartest guy for the job. But not everyone is convinced. Conservatives are torn—some love the aggressive cost-cutting, while others point out that major entitlement programs, which make up a <a href="https://www.benzinga.com/personal-finance/25/02/43759664/trump-investigates-u-s-debt-for-fraud-suggests-treasury-payments-might-not-count">bulk of federal spending</a>, remain untouched.
<h2 class="wp-block-heading">Would Buffett's Idea Have Worked?</h2>
Buffett's plan was simple but ruthless: make politicians personally accountable for running deficits. But in reality, Congress would never pass such a law—because it would mean voting themselves out of power.
In a 2011 CNBC article, an attorney pointed out that there is a legal loophole that could make it happen. Under Article V of the U.S. Constitution, two-thirds of state legislatures could call for a convention to propose an amendment. If three-fourths of the states ratified it, it would become law—no Congressional approval needed. But as the attorney noted, odds of that happening would have been slim and the process would take longer than "five minutes."
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<h2 class="wp-block-heading">The Same Problem, Just Bigger</h2>
The more things change, the more they stay the same. Washington is still <a href="https://www.benzinga.com/markets/25/02/43756938/ray-dalio-warns-of-looming-us-debt-crisis-says-america-faces-economic-heart-attack-without-fiscal-cuts">kicking the debt problem down the road</a>, and politicians are still avoiding real consequences. Buffett's five-minute plan never happened, and neither did serious budget reform.
Trump and Musk's DOGE initiative might be the biggest attempt yet to tackle spending, but the question remains: will it be enough?&nbsp;
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Warren Buffett Said He Could End U.S. Deficit In 5 Minutes: 'If You Guys Can't Get It Done, We'll Get Some Other Guys To Get It Done'

Singapore Defense Minister Ng Eng Hen, was direct when speaking at the BMW Foundation Herbert Quandt Annual Leaders Roundtable last week. In a speech addressing the shifting global landscape, he said the world is witnessing a fundamental change in the assumptions that have shaped international relations for the past 80 years.
The U.S. has &#8220;willy-nilly&#8221; shifted its image from a liberator to a great disruptor and now to a landlord demanding rent, Ng said, pointing to a stark departure from the post-World War II global order where the US was seen as a stabilizing force.
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<h2 class="wp-block-heading">A Shift in US Priorities</h2>
Ng suggested that while American primacy has always been a key element of its foreign policy, it has now become the overriding concern, sometimes at the expense of traditional alliances. "America's primacy has become the overriding consideration," he said, adding that this shift is disrupting global stability and trade.
The <a href="https://www.benzinga.com/25/02/43607060/5-stocks-to-sell-on-the-new-china-trade-war">U.S.-China rivalry</a> remains the most significant geopolitical factor moving forward. With new <a href="https://www.benzinga.com/markets/25/02/43423288/trumps-tariffs-are-here-heres-what-will-get-more-expensive-from-canada-china-and-mexico">trade restrictions and fresh tariffs</a>, Ng noted that the world should brace for continued economic disruptions. Citing the previous trade war between 2018 and 2019, he pointed out that bilateral trade between the two economic giants dropped by 10%. Europe, too, imposed tariffs to counter its trade imbalance with China, but the result was a slowdown in economic growth, from 3.5% to just 0.4% in 2023.
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<h2 class="wp-block-heading">US Antagonism Pushing Allies Toward China</h2>
Donald Trump's administration has <a href="https://www.benzinga.com/25/02/43418661/trump-announces-new-tariffs-on-goods-from-canada-mexico-and-china-will-go-into-effect-from-feb-1">imposed tariffs on Canada and Mexico</a> while pressuring Colombia and <a href="https://www.benzinga.com/news/global/25/02/43447167/trumps-takeover-of-panama-canal-stocks-to-watch-as-diplomacy-affects-presidents-plan">Panama</a> over trade and migration. He has also repeatedly said Canada &#8220;should become the 51st state." Colombia, a longtime U.S. partner, initially resisted his demand to accept deported migrants on military flights but ultimately complied, which critics dismissed as political theater. Meanwhile, as Trump's hardline approach strains relations, China has been actively courting these and other U.S. allies with economic incentives and diplomatic overtures.&nbsp;&nbsp;
<h2 class="wp-block-heading">A World Without a Stabilizing Leader</h2>
Ng warned that the absence of a stabilizing global leader could have serious consequences. "In the absence of a leader to protect our global commons, I think we must all expect that the progress and well-being of the global commons will suffer," he stated.&nbsp;
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&#8220;On the other hand, if you look at China, it is <a href="https://www.benzinga.com/markets/25/01/42779225/this-domestic-solar-stock-fslr-could-shine-in-your-portfolio-if-president-elect-donald-trump-imposes-tariffs-on-chinese-solar-panels">80% of the world's solar manufacturing</a> capacity, and more than half of EVs produced worldwide are Chinese-made,&#8221; Ng pointed out. As the U.S. takes a more isolationist stance, China is seizing opportunities to strengthen its economic and political ties with countries that feel alienated by Washington's hardball tactics.
<h2 class="wp-block-heading">Who Will Step Up?</h2>
Ng left his audience with an open question: If the U.S. no longer plays the role of global stabilizer, who will? "Who, if anyone, any one country or region or bloc, can step in if the U.S. declines to protect the global commons, and how effective, and against what resistance?"
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'Willy-Nilly'—Singapore Defense Minister Says The US Is No Longer A Stabilizing Force, But A 'Landlord Seeking Rent'

Samson Mow, a staunch Bitcoin supporter, has suggested a rollback of the Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) blockchain. This comes in the wake of a massive $1.4 billion theft from the cryptocurrency exchange Bybit, reportedly orchestrated by North Korean hackers.
What Happened: In a post on X, Mow proposed that Ethereum, the dominant smart contract platform in terms of volume, should execute a hard fork. The aim is to return the purloined funds to Bybit and hinder the North Korean government from exploiting the stolen assets.
Mow expressed his support for the rollback of Ethereum&#8217;s chain, stating, "I fully support rolling back Ethereum's chain (again) so the stolen ETH is returned to Bybit and also to prevent the North Korean government from using those funds to finance their nuclear weapons program.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I fully support rolling back Ethereum's chain (again) so the stolen ETH is returned to <a href="https://twitter.com/Bybit_Official?ref_src=twsrc%5Etfw">@Bybit_Official</a> and also to prevent the North Korean government from using those funds to finance their nuclear weapons program. It must be done <a href="https://twitter.com/VitalikButerin?ref_src=twsrc%5Etfw">@VitalikButerin</a>.
&mdash; Samson Mow (@Excellion) <a href="https://twitter.com/Excellion/status/1893132013768491239?ref_src=twsrc%5Etfw">February 22, 2025</a></blockquote>
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Blockchain rollbacks, a process that reverses confirmed transactions to restore the chain to a previous state, are typically initiated after a significant security violation. In the case of Ethereum, a rollback would result in a hard fork, akin to the one that occurred in 2016 during the Ethereum DAO hack.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43901287/north-koreas-lazarus-group-suspected-in-1-4-billion-bybit-crypto-hack">North Korea&#8217;s Lazarus Group Suspected in $1.4 Billion Bybit Crypto Hack</a>
In a lighter vein, Mow suggested&nbsp;that the new roll-backed chain&nbsp;should retain the ticker ETH, while the existing one could be rebranded as "ETHNK." He also cautioned investors to abstain from trading ETH until the issue is fully resolved.
As of now, Ethereum is being traded at $2,770, reflecting a 4% surge over the last day.
Why It Matters: The proposed rollback and hard fork of Ethereum&#8217;s blockchain is a significant development in the crypto world. It underscores the security vulnerabilities that persist in the digital asset ecosystem and the potential measures to mitigate the impact of such breaches. 
The situation also highlights the geopolitical implications of cryptocurrency theft, with the alleged involvement of North Korean hackers. 
The outcome of this situation could set a precedent for how the crypto industry responds to such security breaches in the future.
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Bitcoin Enthusiast Proposes Ethereum Chain Rollback Post $1.4B Bybit Cyber Heist

Disney CEO Bob Iger recently underscored the significance of hiring employees who exhibit &#8216;genuine decency&#8217;, a characteristic he feels is frequently undervalued in recruitment.
What Happened:&nbsp;Iger advocates for the prioritization of &#8216;genuine decency&#8217; in the hiring process. Iger contends that this trait is often overlooked by hiring managers.
In&nbsp;his book published in 2019, &#8220;The Ride&nbsp;of A Lifetime: Lessons Learned&nbsp;from 15 Years as CEO&nbsp;of the Walt Disney Company,&#8221; Iger wrote,&nbsp;&#8220;Genuine decency — an instinct&nbsp;for fairness and openness and&nbsp;mutual respect — is a&nbsp;rarer commodity in business than&nbsp;it should be, and you&nbsp;should look for it in&nbsp;the people you hire and&nbsp;nurture it in the people&nbsp;who work for you.&#8221;
"When hiring, try to surround yourself with people who are&nbsp;good&nbsp;in addition to being good at what they do," Iger wrote and as quoted <a href="https://www.cnbc.com/2025/01/29/disney-ceo-bob-iger-bosses-should-hire-genuinely-decent-people-more-often.html">by </a>CNBC. 
While acknowledging the importance of skills and experience, Iger asserts that character is equally crucial in fostering a positive workplace culture. He further emphasized that leaders should embody the values of integrity, decency, and honesty, as they are representative of the company&#8217;s values.
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&#8220;What people think of you&nbsp;is what they&#8217;ll think of&nbsp;your company,&#8221; Iger wrote, underlining the importance of a leader&#8217;s reputation in shaping the company&#8217;s image.
"You can be the head of a seven-person organization or a quarter-million person organization, the same truth holds. What people think of you is what they'll think of your company," he wrote in the book. 
Why It Matters: Iger&#8217;s comments come at a time when companies are increasingly being scrutinized for their corporate culture and values. 
The emphasis on &#8216;genuine decency&#8217; not only reflects the changing dynamics of the workplace but also underscores the need for companies to align their values with those of their employees. 
This alignment is becoming increasingly important as workers are more likely to remain loyal to companies that share their values, thereby reducing turnover and increasing productivity.
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Image: Shutterstock

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Disney CEO Reveals the One Quality Leaders Should Prioritize, and Why It's So Rare

The year of milestones, 2024, has seen an unperturbed rise in the current bull market, which is nearly <a href="https://www.benzinga.com/24/12/42430296/carson-researchs-50-year-study-suggests-that-the-26-months-old-bull-market-is-far-from-over">26 months</a> old. It is higher by more than 70% from the mid-October 2022 lows. As we wrap up the year with the possibility of a &#8216;Santa Rally,&#8217; let&#8217;s recap 2024&#8217;s landmark junctures.



<h3 class="wp-block-heading">Major U.S. Benchmarks Scale Fresh Records</h3>



The S&amp;P 500 Index has made 57 new all-time highs this year, hitting the last one on Dec. 6, 2024. Also, &#8220;2024 would go down as the best election year return ever,&#8221; said Ryan Detrick, the chief market strategist at Carson Research in a note.



&#8220;Going back 50 years, we found five other bull markets that had lasted at least this long and the shortest any of them lasted was five total years. Think of it like a cruise ship — once it gets moving, it can be quite hard to stop,&#8221; added Detrick



While the S&amp;P 500 index was up 25.96% on a year-to-date basis as of Dec. 23 close, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose by 25.82% in the same period.



The Dow Jones Industrial Average index, on the other hand, hit a record eight 1,000-point milestones this year. It started the year around the 37,000 level and breached the 45,000 level at the beginning of December. It took only seven trading days for the index to go from 44,000 to 45,000, the second fastest 1,000-point milestone ever. Following that the index also saw one of its longest 10-day losing streak, the first ever since 1974.



Dow was up 13.77% year-to-date as of the Dec. 23 close, whereas the SPDR Dow Jones Industrial Average ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) gained 13.74% in the same period.



The Nasdaq 100 index which includes all the &#8216;magnificent seven&#8217; stocks, unlike Dow, rose 29.98% year-to-date as Dec. 23 close. The ETF tracking the index, Fidelity NASDAQ Composite Index ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONEQ#NASDAQ">ONEQ</a>) rose by 33.85% in the same period. Whereas, the Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose by 29.88% in 2024.



The smallcap index Russell 2000 was up 11.16% over the year, while iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) was up 10.97% in the same period as of the Dec. 23 close.



<figure class="wp-block-image size-large"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24021350/CHARt-1-INDICES-1024x576.png" alt="" class="wp-image-705432" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24021350/CHARt-1-INDICES-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24021350/CHARt-1-INDICES-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24021350/CHARt-1-INDICES-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24021350/CHARt-1-INDICES-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24021350/CHARt-1-INDICES.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



See Also: <a href="https://www.benzinga.com/24/12/42430296/carson-researchs-50-year-study-suggests-that-the-26-months-old-bull-market-is-far-from-over">Is The 26-Month Bull Market Over? Here Is What Carson Research&#8217;s 50-Year Old Study Tells Us</a>



<h3 class="wp-block-heading">U.S. Market Trumps The World</h3>



Among the developed economies, the S&amp;P 500 remains the best index with a 25.96% gain on a year-to-date basis, outperforming all the other developed market indices.



While the <a href="https://x.com/RyanDetrick/status/1871317802306707882">first </a>year of a new president&#8217;s term has usually been strong since 1897, the returns during year one of a second term haven&#8217;t been very good overall, said Detrick.



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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Returns during year one of a second term haven&#39;t been very good overall, but way better lately. Down 5 in a row, but now up 4 in a row. &#x1f914; <a href="https://t.co/aUrCbf22Gw">pic.twitter.com/aUrCbf22Gw</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1871320275129967103?ref_src=twsrc%5Etfw">December 23, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Developed Markets</td><td>Indices</td><td>YTD Performance</td></tr><tr><td>United States</td><td>S&amp;P 500</td><td>25.96%</td></tr><tr><td>Germany</td><td>DAX</td><td>18.36%</td></tr><tr><td>Japan</td><td>Nikkei 225</td><td>17.27%</td></tr><tr><td>Hong Kong</td><td>Hang Seng</td><td>19.71%</td></tr><tr><td>Spain</td><td>IBEX 35</td><td>12.31%</td></tr><tr><td>United Kingdom</td><td>FTSE 100</td><td>4.94%</td></tr><tr><td>Switzerland</td><td>Swiss Market</td><td>2.85%</td></tr><tr><td>France</td><td>CAC 40</td><td>-3.43%</td></tr></tbody></table><figcaption class="wp-element-caption">(As Of Dec. 23 Close)</figcaption></figure>



<h3 class="wp-block-heading">Communication, Consumer Discretionary, And Technology Lead Gains In 2024</h3>



Tracking the exchange-traded funds that track the major sectors in the U.S. market, communication services emerged as the top sector for the year, followed by consumer discretionary and technology. The information technology sector has the highest weight of 31.3% in the S&amp;P 500, followed by financials a t13.9%.



BlackRock said that they see technology companies&#8217; earnings performing well in 2025. &#8220;We are overweight as the AI theme and earnings growth broaden. Valuations for AI beneficiaries are supported by tech companies delivering on earnings.&#8221;



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cyclical Sectors</td><td>ETFs</td><td>YTD Performance</td></tr><tr><td>Communication Services</td><td>Communication Services Select SPDR ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>)</td><td>35.97%</td></tr><tr><td>Consumer Discretionary</td><td>Vanguard Consumer Discretionary ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VCR#NYSE">VCR</a>)</td><td>27.21%</td></tr><tr><td>Technology</td><td>Technology Select Sector SPDR ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)</td><td>27.01%</td></tr><tr><td>Financials</td><td>Invesco S&amp;P 500 Equal Weight Financial ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSPF#NYSE">RSPF</a>)</td><td>23.48%</td></tr><tr><td>Industrials</td><td>Vanguard Industrials ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIS#NYSE">VIS</a>)</td><td>17.80%</td></tr><tr><td>Real Estate</td><td>Real Estate Select Sector SPDR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>)</td><td>0.27%</td></tr><tr><td>Materials</td><td>Materials Select Sector SPDR Fund (ARC: XLB)</td><td>-0.37%</td></tr></tbody></table><figcaption class="wp-element-caption">(As Of Dec. 23 Close)</figcaption></figure>



<figure class="wp-block-image size-large"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24021831/Chart-2.1-cyclical-sectors-1024x576.png" alt="" class="wp-image-705439" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24021831/Chart-2.1-cyclical-sectors-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24021831/Chart-2.1-cyclical-sectors-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24021831/Chart-2.1-cyclical-sectors-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24021831/Chart-2.1-cyclical-sectors-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24021831/Chart-2.1-cyclical-sectors.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



See Also: <a href="https://www.benzinga.com/markets/equities/24/11/42383725/trump-administrations-deregulation-efforts-to-lift-energy-oil-and-gas-sectors-ai-frenzy-to-aid-faang-stocks-and-nvidia-says-fintech-insider">Trump&#8217;s Deregulation Efforts To Benefit Energy, Oil And Gas Sectors, While AI Frenzy Will Boost FAANG Stocks And Nvidia, Says Fintech Insider</a>



Among the defensive sectors, utilities emerged as a winner, whereas energy was an underperformer. Consumer staples, energy, and utilities take up 5.7%, 3.4%, and 2.5% weight, respectively in the S&amp;P 500 index.



As per Morgan Stanley, the energy sector faces a divided future. Trump's deregulation could benefit traditional energy, but the outlook for oil is uncertain due to potential oversupply and weak global demand, especially from China. In contrast, natural gas may see growth from strong European demand and increased domestic use for electrification and AI-powered data centers. The clean energy sector could face challenges, if Trump rollbacks Biden's 2022 Inflation Reduction Act tax credits. However, a full repeal seems unlikely due to the benefits for Republican states.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Defensive Sectors</td><td>ETFs</td><td>YTD Performance</td></tr><tr><td>Utilities</td><td>Vanguard Utilities ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VPU#NYSE">VPU</a>)</td><td>18.23%</td></tr><tr><td>Consumer Staples</td><td>Vanguard Consumer Staples ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VDC#NYSE">VDC</a>)</td><td>10.04%</td></tr><tr><td>Healthcare</td><td>Vanguard Health Care ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VHT#NYSE">VHT</a>)</td><td>0.63%</td></tr><tr><td>Energy</td><td>The Energy Select Sector SPDR ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)</td><td>-0.96%</td></tr></tbody></table><figcaption class="wp-element-caption">(As Of Dec. 23 Close)</figcaption></figure>



<figure class="wp-block-image size-large"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24022041/Chart-2.2-defensive-sectors-1024x576.png" alt="" class="wp-image-705442" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24022041/Chart-2.2-defensive-sectors-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24022041/Chart-2.2-defensive-sectors-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24022041/Chart-2.2-defensive-sectors-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24022041/Chart-2.2-defensive-sectors-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24022041/Chart-2.2-defensive-sectors.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<h3 class="wp-block-heading">Top S&amp;P 500 Performers In 2024</h3>



Palantir was the top performer within the S&amp;P 500 index this year, as it zoomed 386.67% year-to-date, as of Dec. 23 close. Vistra and Nvidia followed Palantir to advance 269.82% and 189.95% in the same period.



<figure class="wp-block-table is-style-stripes"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>S&amp;P 500 Stocks</td><td>YTD Performance</td></tr><tr><td>Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>)</td><td>386.67%</td></tr><tr><td>Vistra Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>)</td><td>269.82%</td></tr><tr><td>NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</td><td>189.95%</td></tr><tr><td>GE Vernova Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>)</td><td>162.80%</td></tr><tr><td>Axon Enterprise Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXON#NASDAQ">AXON</a>)</td><td>148.04%</td></tr><tr><td>United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>)</td><td>144.30%</td></tr><tr><td>Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>)</td><td>114.07%</td></tr><tr><td>Texas Pacific Land Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPL#NYSE">TPL</a>)</td><td>113.03%</td></tr><tr><td>Targa Resources Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRGP#NYSE">TRGP</a>)</td><td>106.40%</td></tr><tr><td>Howmet Aerospace Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HWM#NYSE">HWM</a>)</td><td>105.73%</td></tr></tbody></table><figcaption class="wp-element-caption">(As Of Dec. 23 Close)</figcaption></figure>



<figure class="wp-block-image size-large"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24022228/Chart-3-top-performers-of-SPY-1024x576.png" alt="" class="wp-image-705446" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24022228/Chart-3-top-performers-of-SPY-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24022228/Chart-3-top-performers-of-SPY-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24022228/Chart-3-top-performers-of-SPY-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24022228/Chart-3-top-performers-of-SPY-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24022228/Chart-3-top-performers-of-SPY.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<h3 class="wp-block-heading">U.S. Dollar Surges Over 6% In 2024</h3>



The Dollar index was up 6.72% year-to-date with a 52-week range of 100.1570 to 108.5410 per unit. If the Greenback can hold on to these gains, the currency would leave behind the second-best year since 2015.



The UDS&#8217;s demand has been rising due to the &#8220;Uncertainties arising from expected Trump's policies and hawkish comments from the Fed towards rate cycle,&#8221; said Kunal Sodhani, vice president of the global trading center at Shinhan Bank.



According to Franklin Templeton, &#8220;The Fed easing cycle will be a dominant factor for the USD. The two main comparisons we draw against the Fed cyclically, interest-rate-wise, are emerging markets, and Japan.&#8221;



WisdomTree Bloomberg US Dollar Bullish Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USDU#NYSE">USDU</a>) was up 13.24% on a year-to-date basis, as of Dec. 23 close, where as Invesco DB US Dollar Index Bullish Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) advanced by 7.21% in the same period.



<figure class="wp-block-image size-large"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24022447/Chart-4-Dollar-ETFs-1024x576.png" alt="" class="wp-image-705448" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24022447/Chart-4-Dollar-ETFs-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24022447/Chart-4-Dollar-ETFs-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24022447/Chart-4-Dollar-ETFs-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24022447/Chart-4-Dollar-ETFs-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/24022447/Chart-4-Dollar-ETFs.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



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S&P 500 Hits 57 All-Time Highs In Record-Breaking 2024: Magnificent 7 Drive 30% Of Nasdaq's Surge

Designed to provide broad exposure to the Financials - Broad segment of the equity market, the Invesco S&amp;P 500 Equal Weight Financials ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSPF#NYSE">RSPF</a>) is a passively managed exchange traded fund launched on 11/01/2006.

Passively managed ETFs are becoming increasingly popular with institutional as well as retail investors due to their low cost, transparency, flexibility and tax efficiency. They are excellent vehicles for long term investors.

Sector ETFs are also funds of convenience, offering many ways to gain low risk and diversified exposure to a broad group of companies in particular sectors. Financials - Broad is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 2, placing it in top 13%.

<h2>Index Details</h2>

The fund is sponsored by Invesco. It has amassed assets over $271.83 million, making it one of the average sized ETFs attempting to match the performance of the Financials - Broad segment of the equity market. RSPF seeks to match the performance of the S&amp;P 500 EQUAL WEIGHT FINANCIALS INDEX before fees and expenses.

The S&amp;P 500 Equal Weight Financials Index equally weights stocks in the financial sector of the S&amp;P 500 Index.

<h2>Costs</h2>

Expense ratios are an important factor in the return of an ETF and in the long term, cheaper funds can significantly outperform their more expensive counterparts, other things remaining the same.

Annual operating expenses for this ETF are 0.40%, making it on par with most peer products in the space.

It has a 12-month trailing dividend yield of 1.41%.

<h2>Sector Exposure and Top Holdings</h2>

ETFs offer a diversified exposure and thus minimize single stock risk but it is still important to delve into a fund&#39;s holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis.

This ETF has heaviest allocation in the Financials sector--about 100% of the portfolio.

Looking at individual holdings, Cboe Global Markets Inc (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) accounts for about 1.60% of total assets, followed by Truist Financial Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>) and Globe Life Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GL#NYSE">GL</a>).

The top 10 holdings account for about 15.42% of total assets under management.

<h2>Performance and Risk</h2>

So far this year, RSPF has gained about 14.40%, and is up about 29.31% in the last one year (as of 09/12/2024). During this past 52-week period, the fund has traded between $48.10 and $68.77.

The ETF has a beta of 1.05 and standard deviation of 13.82% for the trailing three-year period. With about 72 holdings, it effectively diversifies company-specific risk.

<h2>Alternatives</h2>

Invesco S&amp;P 500 Equal Weight Financials ETF holds a Zacks ETF Rank of 2 (Buy), which is based on expected asset class return, expense ratio, and momentum, among other factors. Because of this, RSPF is a great option for investors seeking exposure to the Financials ETFs segment of the market. There are other additional ETFs in the space that investors could consider as well.

Vanguard Financials ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VFH#NYSE">VFH</a>) tracks MSCI US Investable Market Financials 25/50 Index and the Financial Select Sector SPDR ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) tracks Financial Select Sector Index. Vanguard Financials ETF has $9.80 billion in assets, Financial Select Sector SPDR ETF has $43.50 billion. VFH has an expense ratio of 0.10% and XLF charges 0.09%.

<a href="https://www.zacks.com/stock/news/2335011/should-you-invest-in-the-invesco-s-p-500-equal-weight-financials-etf-rspf?cid=CS-BENZ-FT-sector_etf-2335011">To read this article on Zacks.com click here.</a>

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