Latest news for Thor Explorations (OTC:THXPF) Stock

Thor Explorations Ltd is a Canadian mineral exploration company engaged in the acquisition, exploration and development of mineral properties located in Nigeria, Senegal and Burkina Faso. It holds a 100% interest in the Segilola Gold Project located in Osun State of Nigeria and a 70% interest in the Douta Gold Project located in south-eastern Senegal. It also holds a 100% interest in the Bongui and Legue gold permits located in Hounde greenstone belt, southwest Burkina Faso. It has three reportable segments, the Segilola Mine Project, Exploration Projects, and Corporate.

THOR EXPLORATION LTD by THOR EXPLORATION LTD.

Thor Explorations Ltd

Exodus Movement Inc. (NYSEAMERICAN: EXOD) commenced trading on the NYSE American exchange Wednesday, becoming the latest publicly traded company on Wall Street with cryptocurrency as the core business.
What happened: The shares of the self-custodial wallet provider closed 37% higher at $53.50 after getting listed on NYSE American, the sibling exchange to the New York Stock Exchange.
Owned by the New York Stock Exchange, NYSE American specializes in small- and mid-cap equities.
The company, which previously traded on over-the-counter markets, got approval to list its common stock last week.
See Also:<a href="https://www.benzinga.com/24/12/42519107/if-you-invested-1000-in-bitcoin-when-the-first-bitcoin-etf-was-filed-heres-how-much-youd-have-today"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42560698/microstrategys-aggressive-bitcoin-strategy-raises-eyebrows-in-crypto-community">MicroStrategy&#8217;s Aggressive Bitcoin Strategy Raises Eyebrows In Crypto Community</a>
Why It Matters: Founded in 2015, Exodus is one of the oldest providers of non-custodial cryptocurrency wallets, supporting top coins like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>).
With its debut, it joined the niche list of Wall Street companies that primarily deal in cryptocurrencies, <a href="https://www.benzinga.com/24/12/42545624/cathie-woods-ark-dumps-coinbase-stock-amid-bitcoin-highs-shopify-holdings-also-cut">including </a>Coinbase, the largest cryptocurrency exchange in the U.S., and <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42453467/japanese-crypto-behemoth-coincheck-enters-wall-street-with-nasdaq-listing">Japan&#8217;s cryptocurrency behemoth</a> Coincheck.
An exchange listing, especially in the U.S., exposes a company to a broader spectrum of institutional and retail investors, thereby increasing its liquidity and visibility.
Photo Courtesy: Maor_Winetrob On Shutterstock.com
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42545656/bitcoin-is-no-manhattan-real-estate-peter-schiff-challenges-microstrategys-micheal-saylor-btc-doesnt-generate-any-income">Bitcoin Is No Manhattan Real Estate, Peter Schiff Challenges MicroStrategy&#8217;s Michael Saylor: &#8216;BTC Doesn&#8217;t Generate Any Income&#8217;</a></li>
</ul>

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

Cryptocurrency

News

Markets

$BTC

$ETH

EXOD

Crypto Wallet Provider Exodus Makes Wall Street Debut, Shares Pop 37%

BioArctic AB (publ) (Nasdaq Stockholm: BIOA B) today announced that it has entered into a global exclusive license agreement with Bristol Myers Squibb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) for BioArctic's PyroGlutamate-amyloid-beta (PyroGlu-Aβ) antibody program, including BAN1503 and BAN2803, whereof the latter includes BioArctic's BrainTransporter&#x2122;&nbsp;technology.&nbsp;As part of the agreement, BioArctic will receive a USD 100 million upfront payment and up to USD 1.25 billion in milestone payments. BioArctic is also entitled to tiered low double-digit royalties on global product sales.

BRCTF

BioArctic Partners With Bristol Myers Squibb In Licensing Deal For PyroGlutamate-Amyloid-Beta Antibody Program

&#x2A;– PADOVA study showed numerical delay in motor progression and positive trends on multiple secondary and exploratory endpoints –
– Prasinezumab continues to be well tolerated and no new safety signals were observed –
– Genentech is further evaluating the data and will work together with health authorities to determine next steps –

RHHBF

RHHBY

RHHVF

Genentech's Prasinezumab Phase IIb Study Misses Primary Endpoint But Shows Potential In Early Parkinson's Disease

Franco-Nevada Expands Portfolio With Sibanye-Stillwater's Western Limb Mining Operations In $500M Deal

KKR Backs Rebel Foods With Major Investment To Expand World-Class Cloud Kitchen Ecosystem

The U.S. Environmental Protection Agency (EPA) gave California the green light on Wednesday to ban the sale of new gasoline-powered light-duty vehicles by 2035.
What Happened: The agency granted a waiver to California under the Clean Air Act to implement its plan mandating that all new light-duty vehicles delivered in the state by 2035 be plug-in hybrids, battery electric, and hydrogen-powered vehicles. 
The EPA also granted a waiver for the state&#8217;s "Omnibus" low-NOx (nitrogen oxides) regulation aimed at reducing harmful emissions from heavy-duty trucks.
"California has longstanding authority to request waivers from EPA to protect its residents from dangerous air pollution coming from mobile sources like cars and trucks,"&nbsp;said EPA Administrator Michael S. Regan. "Today's actions follow through on EPA's commitment to partner with states to reduce emissions and act on the threat of climate change."
The EPA said in a statement that the opponents of the two waivers failed to show how either program is inconsistent with the Clean Air Act. 
Why It Matters: "Clean cars are here to stay. The Biden-Harris Administration reaffirmed what we've known for decades – California can rise to the challenge of protecting our people by cleaning our air and cutting pollution,&#8221; California Governor Gavin Newsom said.
&#8220;Naysayers like President-elect Trump would prefer to side with the oil industry over consumers and American automakers, but California will continue fostering new innovations in the market."
The California Governor, however, clarified in his statement that the rules are not aimed at gas vehicles already on the road but only attempt to regulate new cars. &#8220;We expect to see internal combustion engine vehicles on California roads past 2050&#8230;,&#8221; he said. 
Last month, Newsom also <a href="https://www.benzinga.com/tech/24/11/42183055/elon-musk-slams-californias-proposal-to-shut-tesla-evs-out-of-consumer-rebates-in-state-this-is-insane">outlined a new proposal</a> to offer incentives for EV buyers in California if Trump gets rid of the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41988194/trump-plans-to-erase-ev-tax-credit-analyst-says-its-net-bullish-calls-sell-off-wrong-knee-jerk-reaction">federal $7,500 tax break</a> for EV buyers when he returns to the White House early next year.
Trump has previously said that he would repeal the approvals granted by the EPA to California for its <a href="https://www.benzinga.com/news/24/08/40092295/trump-opposes-widespread-electric-car-adoption-despite-elon-musks-endorsement-he-is-a-friend-of-mine">push towards electrification of transport.</a> 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/government/regulations/24/12/42546578/spacex-lost-ground-control-on-dragon-spacecraft-during-polaris-dawn-mission-due-to-power-outage-at-california-facility-report" target="_blank" rel="noreferrer noopener">SpaceX Lost Ground Control On Dragon Spacecraft During Polaris Dawn Mission Due To Power Outage At California Facility: Report</a></li>
</ul>
Photo courtesy: Unsplash

Government

Regulations

Tech

EPA Greenlights California's Plan To Ban Sale Of New Gas Cars By 2025

Popular dog-themed cryptocurrency Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) dumped hard Wednesday amid the broader market slump precipitated by the Federal Reserve's hawkish outlook.
What happened: The world's largest meme coin by market capitalization sank to a 5-week low of $0.34 during the evening before clawing back to $0.36.&nbsp;
DOGE lost over 6% in the last 24 hours, while its trading volume spiked 62% to $6.57 billion, making it one of the most transacted tokens on the day.
Well-known cryptocurrency analyst Kevin said that the move down was expected and it was "staring us all in the face."
<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">We predicted this move down on <a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> perfectly. Honestly it was staring us all in the face and was easy to see. If your guru couldn&#39;t spot that one then you should question there talent level <a href="https://t.co/wm5tk3qC0L">https://t.co/wm5tk3qC0L</a>
&mdash; Kevin (@Kev_Capital_TA) <a href="https://twitter.com/Kev_Capital_TA/status/1869531384391553264?ref_src=twsrc%5Etfw">December 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Interestingly, a renowned early adopter of the cryptocurrency, Glauber Contessoto, aka the &#8216;Dogecoin Millionaire, &#8216;disclosed on X that he was also among the sellers. 
<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">Sorry guys, I had to sell some <a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> <a href="https://t.co/a7pro4wH5S">https://t.co/a7pro4wH5S</a>
&mdash; SlumDOGE Millionaire (@ProTheDoge) <a href="https://twitter.com/ProTheDoge/status/1869580784237171116?ref_src=twsrc%5Etfw">December 19, 2024</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/24/12/42519107/if-you-invested-1000-in-bitcoin-when-the-first-bitcoin-etf-was-filed-heres-how-much-youd-have-today"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42560698/microstrategys-aggressive-bitcoin-strategy-raises-eyebrows-in-crypto-community">MicroStrategy&#8217;s Aggressive Bitcoin Strategy Raises Eyebrows In Crypto Community</a>
Why It Matters: DOGE's technical indicators painted a bearish outlook as of this writing, <a href="https://www.tradingview.com/symbols/DOGEUSDT/technicals/?exchange=BINANCE">according </a>to TradingView.
The Moving Average Convergence Divergence indicator, which compares two exponential moving averages of price, flashed a "Sell" signal. Additionally, most shorter moving averages hinted that the price could fall further.
That said, the Bull Bear Power indicator, used for measuring the strength of buyers and sellers in the market, showed a "Neutral" reading.
The derivatives market, on the other hand, sprang a surprise, as over 84% of the top trader accounts on Binance were long on DOGE as of this writing, <a href="https://www.coinglass.com/TopTrader/Binance">according </a>to Coinglass.
Price Action:&nbsp; At the time of writing, Dogecoin was exchanging hands at $0.3616, down 6.47% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42545656/bitcoin-is-no-manhattan-real-estate-peter-schiff-challenges-microstrategys-micheal-saylor-btc-doesnt-generate-any-income">Bitcoin Is No Manhattan Real Estate, Peter Schiff Challenges MicroStrategy&#8217;s Michael Saylor: &#8216;BTC Doesn&#8217;t Generate Any Income&#8217;</a></li>
</ul>

Movers

Trading Ideas

$DOGE

Dogecoin Bull Says He 'Had To Sell' As Meme King Plunges To 5-Week Low But Derivative Traders Remain Bullish

Macro Economic Events

Econ #s

Economics

BBJP

WisdomTree Trust Japan Total Dividend Fund

Reported Earlier, Japan Interest Rate Decision Unchanged At 0.25%

MacKenzie Scott, one of America&#8217;s wealthiest philanthropists, announced $2 billion in new charitable donations for 2024, while revealing a strategic shift toward mission-aligned <a href="https://www.benzinga.com/news/large-cap/24/11/42009316/jeff-bezos-ex-wife-mackenzie-scott-sells-more-amazon-shares">investments for her remaining fortune</a>. The latest round of giving brings her total donations since 2019 to $19.2 billion, according to her Wednesday blog post on Yield Giving.
What Happened: Scott, who received approximately 400 million Amazon.com Inc. shares in her 2019 divorce settlement from founder Jeff Bezos, has recently sold 11% of her Amazon holdings, valued at over $8 billion. Despite her aggressive giving strategy, Forbes estimates her current wealth at $31.7 billion.
In a notable departure from traditional portfolio management, Scott disclosed that she has directed her investment advisors to focus on &#8220;mission-aligned ventures&#8221; rather than conventional stock portfolios that &#8220;increase the wealth and influence of leaders who already have it.&#8221;
See Also: <a href="https://www.benzinga.com/24/12/42567329/bill-ackman-says-events-around-the-scuttled-spending-bill-provide-a-road-map-for-rapid-doge-progress">Bill Ackman Says Events Around The Scuttled Spending Bill Provide A Road Map For &#8216;Rapid DOGE Progress&#8217;</a>
Why It Matters: Scott&#8217;s 2024 grants have primarily targeted economic security and opportunity initiatives. Notable recipients include repeat grantees like CAMFED, supporting girls&#8217; education in Africa, and Undue Medical Debt (formerly RIP Medical Debt), marking a new pattern in her giving strategy.
Scott&#8217;s continued liquidation of Amazon shares and her shift toward mission-aligned investments could signal broader trends in wealth management among ultra-high-net-worth individuals. Had she retained all her original shares, Scott&#8217;s Amazon holdings alone would have made her an estimated worth of $88 billion.
Melinda French Gates, who maintains significant holdings in Microsoft Corp., has publicly supported Scott&#8217;s rapid-giving approach while criticizing other tech billionaires for not doing enough to <a href="https://www.benzinga.com/news/24/07/40013038/bill-gates-ex-wife-reveals-she-shares-jeff-bezos-ex-wife-mackenzie-scotts-parenting-style-she-was-tr">give back to society</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/24/12/42567738/larry-ellison-and-steve-jobs-once-quietly-plotted-to-save-apple-and-reinstate-jobs-as-ceo-wasnt-worth-much-back-then-about-5-billion">Larry Ellison Once Considered Buying Apple In Order To Make Steve Jobs The CEO Again: &#8216;My Idea Was Simple…&#8217;</a></li>
</ul>
Image via IWEC Foundation
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

MacKenzie Scott's Mission-Driven Investing Pushes Back Against Wealth Concentration: Amazon Stock Rich Philanthropist Pledges $2 Billion In Donations

A significant disparity in Federal Reserve officials&#8217; views on future interest rate policy points to deeper strategic challenges that could impact markets through 2025, according to prominent economist Mohamed El-Erian.
What Happened: El-Erian, Chief Economic Adviser at Allianz, highlighted the notable divergence in Fed officials&#8217; rate projections shown in the central bank&#8217;s latest &#8220;dot plot&#8221; released after its December meeting.
&#8220;This is part of a bigger problem &#8212; namely, the consistent absence of a strategic anchoring for policy formulation,&#8221; El-Erian wrote on X, formerly Twitter.
<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">As shown in the Federal Reserve&#39;s latest &quot;dot plot&quot; (below), there is a notable dispersion in views among Fed officials regarding how the policy rate will evolve from here. This is part of a bigger problem &#8212; namely, the consistent absence of a strategic anchoring for policy… <a href="https://t.co/ojcoXyUrAe">pic.twitter.com/ojcoXyUrAe</a>
&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1869504011931472152?ref_src=twsrc%5Etfw">December 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The Fed&#8217;s latest projections show officials expect the federal funds rate to decline to around 3.5% by the end of 2025, down from the current 4.25%-4.5% range. However, individual forecasts among Federal Open Market Committee members vary significantly, reflecting uncertainty about the pace of rate cuts.
Why It Matters: This divergence comes as Fed Chair Jerome Powell signals a more cautious approach to monetary policy. During Wednesday&#8217;s press conference, Powell emphasized entering a &#8220;new phase&#8221; with slower, more <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42563299/feds-powell-shocks-markets-its-a-new-phase-were-significantly-closer-to-neutral">deliberate rate adjustments</a> ahead.
Market reactions underscored investors&#8217; concerns about the Fed&#8217;s strategic direction. The S&amp;P 500 index — as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) tumbled 2.6%, while the tech-heavy Nasdaq dropped 3.5%. The U.S. dollar index, tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) surged 1.2% to levels not seen since November 2022.
The dispersion in Fed views is particularly significant given persistent inflation challenges. Despite three rate cuts totaling 100 basis points in 2024, core PCE inflation remains <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42563299/feds-powell-shocks-markets-its-a-new-phase-were-significantly-closer-to-neutral">above the Fed&#8217;s 2% target</a>, with officials now projecting 2.5% inflation through 2025.
El-Erian warned in his <a href="https://www.bloomberg.com/opinion/articles/2024-12-16/the-fed-faces-an-important-choice-after-this-rate-cut">recent</a> Bloomberg Opinion column that this policy uncertainty could have meaningful implications during the first half of 2025, potentially affecting both U.S. economic performance and market stability.
Image via Federal Reserve
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Federal Reserve

PowerShares DB US Dollar Index Bullish Fund

Mohamed El-Erian Warns Fed Faces 'Bigger Problem' As Diverging Views On Rate Policy Highlight Lack Of 'Strategic Anchoring'

German lending behemoth, Deutsche Bank AG Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DB#NYSE">DB</a>), was developing an Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) Layer-2 blockchain, according to a Wednesday report, the latest in a wave of growing interest in Web3 by traditional financial giants.
What Happened: The solution was developed using ZKsync technology and was part of the Project Dama 2 experiment, which was unveiled in November, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-12-18/deutsche-bank-tries-to-tackle-compliance-hurdles-for-public-blockchains?utm_source=telegram&amp;utm_content=crypto&amp;utm_medium=social">reported</a>. 
The Layer-2 concept was an attempt to avoid the issues that regulated banks may have when working with public blockchains, such as transacting with criminals and sanctioned entities, according to bank executives quoted by Bloomberg.
A rollup, or a <a href="https://www.benzinga.com/money/what-are-layer-2-solutions-in-crypto">Layer-2 scaling solution</a>, offers the security of the Layer-1 chain and infrastructure while catering to enterprise needs for security and compliance. They allow for full customization, with only permissioned entities allowed to be as validators—participants that verify transactions.
Deutsche Bank didn&#8217;t immediately respond to Benzinga&#8217;s request to confirm this development. 
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42560698/microstrategys-aggressive-bitcoin-strategy-raises-eyebrows-in-crypto-community">MicroStrategy&#8217;s Aggressive Bitcoin Strategy Raises Eyebrows In Crypto Community</a>
Why It Matters: Project Dama 2 was part of the broader <a href="https://www.benzinga.com/markets/cryptocurrency/23/10/35499095/singapores-project-guardian-teams-up-with-top-financial-titans-for-asset-tokenization-pilo">&#8220;Project Guardian&#8221; initiative</a>, launched by Singapore&#8217;s central bank, the Monetary Authority of Singapore, to test the application of asset tokenization and decentralized finance across a broader range of use cases in the financial sector.
Participating financial institutions include names like JPMorgan, which <a href="https://www.benzinga.com/markets/asia/22/11/29552324/jpmorgan-executes-first-defi-transaction-for-singapores-project-guardian">previously conducted a cross-border transaction</a> on a public chain.
The move comes in the wake of similar initiatives by other major corporations. Earlier in August, multinational conglomerate&nbsp;Sony Group <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40521900/sony-group-set-to-launch-ethereum-layer-2-blockchain-soneium-heres-what-you-should-know">unveiled</a> its Ethereum Layer-2 blockchain, Soneium. The public blockchain, developed in collaboration with Web3 infrastructure, Startale Labs, hosts a range of Web3 games, NFT marketplaces, and entertainment-related services.
Deutsche Bank is the largest lender in Germany, with assets worth €1.31 trillion ($1.36 billion) as of Mar. 31, <a href="https://www.spglobal.com/market-intelligence/en/news-insights/research/europes-50-largest-banks-by-assets-2024">according </a>to S&amp;P Global.
Price Action:  Shares of Deutsche Bank closed 2.44% lower at $17.18 during Wednesday&#8217;s regular session and were down 1.05% in after-market trading, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
Image via Shutterstock
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Sony Group Corporation American Depositary Shares

SONY

Germany's Largest Bank Is Reportedly Leveraging Ethereum-Based Blockchain Solution To Overcome Regulatory Hurdles: Here's How

On Wednesday, Senate minority leader Mitch McConnell (R-Ky.) submitted an amicus brief to the Supreme Court, urging the rejection of TikTok&#8217;s request to delay a law that could ban the app in January.
What Happened: McConnell dismissed TikTok&#8217;s First Amendment claims in his filing. &#8220;The topsy-turvy idea that TikTok has an expressive right to facilitate the CCP censorship regime is absurd,&#8221; his counsel Michael A. Fragoso wrote.
&#8220;TikTok clearly desires this Court to enjoin the divesture date in the vain hopes that the divesture order will be punted into the next presidential administration where, perhaps, TikTok will find relief from divesture from a less hostile Department of Justice,&#8221; the filing read.
See Also: <a href="https://www.benzinga.com/24/12/42546621/elon-musk-agrees-as-satya-nadella-reflects-on-ais-global-impact-in-2024-from-cancer-research-to-rainforest-conservation-and-more?itm_source=parsely-api">Elon Musk Agrees With Satya Nadella As Microsoft CEO Reflects On &#8216;Incredible Speed&#8217; Of AI Diffusion In 2024</a>
On the same day, the Supreme Court said it will hear arguments on whether the law that bans TikTok nationwide infringes on the First Amendment, with oral arguments scheduled for Jan. 10.
This timeline allows the court to potentially rule before the ban&#8217;s effective date of Jan. 19.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: McConnell was instrumental in passing a <a href="https://www.benzinga.com/news/24/04/38500093/tiktok-ban-courts-must-decide-whether-national-security-concerns-trump-freedom-of-expression">foreign aid package</a> in April that included the law. It mandated ByteDance, TikTok&#8217;s China-based parent company, to divest from the app or face a ban in the U.S.
Earlier this week, President-elect Donald Trump <a href="https://www.benzinga.com/general/social-media/24/12/42522134/trump-meets-tiktok-ceo-shou-zi-chew-at-mar-a-lago-as-platform-urges-supreme-court-to-block-looming-ban">met with TikTok CEO</a> Shou Zi Chew. Trump, who previously attempted to ban TikTok during his first presidency, has also expressed support for the social media platform, promising to &#8220;save&#8221; it.
A potential TikTok ban could lead users to <a href="https://www.benzinga.com/24/12/42512436/tiktok-ban-could-lead-to-more-time-spent-on-youtube-reddit-snapchat">spend more time on</a> platforms like YouTube, owned by 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, Reddit Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>), and Snap Inc.'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) Snapchat.
The platform also competes with Meta Platforms, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) Facebook and Instagram. In fact, following a court ruling against TikTok, stocks for Meta, Reddit, and Snap <a href="https://www.benzinga.com/24/12/42369266/meta-reddit-stocks-climb-record-highs-as-tiktoks-battle-against-us-ban-continues-after-court-ruling">reached record highs</a>.
In September, acquisition speculation ignited after Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) decided to <a href="https://www.benzinga.com/news/24/09/40866761/is-amazon-eyeing-tiktok-for-a-possible-acquisition">deepen its ties with TikTok</a>. In May 2024, venture capitalist Kevin O'Leary also <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38948567/kevin-oleary-wants-to-buy-tiktok-talks-potential-for-crypto-payments-on-the-platform">expressed interest in acquiring</a> TikTok.
In July, Needham analyst Laura Martin assessed <a href="https://www.benzinga.com/top-stories/24/07/39991984/tiktok-vs-reels-vs-shorts-analyst-sizes-up-short-form-video-platforms-on-valuation-and-monetization">TikTok as being more valuable</a> than Instagram Reels and YouTube Shorts, citing metrics such as revenue, active user base, and engagement levels.
Photo by Consolidated News Photos on Shutterstock
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
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<li><a href="https://www.benzinga.com/24/12/42545936/samsung-galaxy-s25-ultra-and-s25-leaks-show-off-sleek-curved-design-and-slimmer-bezels-than-apples-iphone-16-pro-max?itm_source=parsely-api">Samsung Galaxy S25 Ultra And S25+ Leaks Feature Sleek Curved Design And Slimmer Bezels Than Apple&#8217;s iPhone 16 Pro Max</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Social Media

Legal

AMZN

GOOG

GOOGL

RDDT

SNAP

Mitch McConnell Urges Supreme Court To Reject TikTok's Delay Request, Says Platform Hoping For Less Hostile DOJ In Trump Administration

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) have announced a collaboration for the improvement in the performance of large language models.
What Happened: The partnership focuses on integrating Apple&#8217;s Recurrent Drafter (ReDrafter) technique with Nvidia&#8217;s TensorRT-LLM, to boost text generation speeds.
ReDrafter, which Apple open-sourced earlier this year, combines beam search and dynamic tree attention to improve LLM performance.
The collaboration with Nvidia has led to the integration of ReDrafter into TensorRT-LLM, a tool designed to accelerate LLMs on Nvidia GPUs.
See Also: <a href="https://www.benzinga.com/24/12/42546621/elon-musk-agrees-as-satya-nadella-reflects-on-ais-global-impact-in-2024-from-cancer-research-to-rainforest-conservation-and-more?itm_source=parsely-api">Elon Musk Agrees With Satya Nadella As Microsoft CEO Reflects On &#8216;Incredible Speed&#8217; Of AI Diffusion In 2024</a>
This integration involved adding new operators to improve TensorRT-LLM&#8217;s ability to handle complex models and decoding methods.
Benchmarking results show a 2.7x increase in token generation speed for greedy decoding on Nvidia GPUs, significantly reducing latency and power consumption.
Apple&#8217;s machine learning researchers noted that this advancement could lower computational costs and improve user experience by reducing latency in production applications.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: In October earlier this year, Apple reported <a href="https://www.benzinga.com/news/earnings/24/10/41666494/apple-q4-earnings-revenue-beat-eps-beat-installed-base-hits-new-highs-iphone-sales-rise-as-apple-in">fourth-quarter revenue</a> of $94.9 billion, surpassing analyst expectations of $94.56 billion.
Last month, Nvidia reported <a href="https://www.benzinga.com/news/earnings/24/11/42099904/nvidia-beats-q3-revenue-eps-estimates-supply-constraints-ding-stock-huang-says-age-of-ai-is-in-full-steam">third-quarter revenue</a> of $35.1 billion, marking a 94% increase compared to the last year, and exceeding the Street consensus estimate of $33.12 billion, as per <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent112024&amp;t=be2bearmibe3na1">Benzinga Pro data</a>.
Together these two tech giants are worth about $7 trillion, with Apple being the most valuable company in the world and Nvidia ranking third.
Price Action: Apple shares fell 2.14% to $248.05 on Wednesday, and dipped further to $247.19 in after-hours trading. Meanwhile, Nvidia shares gained 2.01% to $131.50 in after-hours trading, recovering from a 1.14% decline to $128.91 during the regular session.
Photo Courtesy: Koshiro K On Shutterstock.com
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/tech/24/12/42499609/micron-gets-investment-from-white-house-china-launches-antitrust-investigation-on-nvidia-apple-faces-1-2-billion-lawsuit-in-california-more-consumer-tech-news-december-9-13?itm_source=parsely-api">Micron Gets Investment From White House, China Launches Antitrust Investigation On Nvidia, Apple Faces $1.2 Billion Lawsuit In California &amp; More: Consumer Tech News</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

AAPL

NVDA

Nvidia, Apple Team Up To Supercharge ChatGPT-Like LLMs With ReDrafter Technique

World Liberty Financial, a cryptocurrency project backed by President-elect Donald Trump, announced a strategic partnership with decentralized finance protocol Ethena Labs (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">ENA</a>) on Wednesday
What happened: Ethena Labs stated on X that a proposal has been submitted to explore Ethena Staked USDe (CRYPTO: sUSDe), a reward-bearing stablecoin, as a collateral asset on the upcoming protocol.
<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">Ethena has entered into a strategic partnership with <a href="https://twitter.com/worldlibertyfi?ref_src=twsrc%5Etfw">@worldlibertyfi</a> A governance proposal has been submitted to add sUSDe to WLFI&#39;s upcoming Aave instance as a core collateral asset <a href="https://t.co/jgjd8QGWDS">pic.twitter.com/jgjd8QGWDS</a>
&mdash; Ethena Labs (@ethena_labs) <a href="https://twitter.com/ethena_labs/status/1869413534125510677?ref_src=twsrc%5Etfw">December 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
"Should it pass, this proposal will enable World Liberty Financial users to benefit from sUSDe rewards and also WLF token rewards," Ethena Labs said.
Ethena issues the so-called synthetic stablecoin USDe, which, unlike other dollar-pegged stablecoins like Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>) and USD Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>) doesn't rely on traditional finance backing.
See Also:<a href="https://www.benzinga.com/24/12/42519107/if-you-invested-1000-in-bitcoin-when-the-first-bitcoin-etf-was-filed-heres-how-much-youd-have-today"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42560698/microstrategys-aggressive-bitcoin-strategy-raises-eyebrows-in-crypto-community">MicroStrategy&#8217;s Aggressive Bitcoin Strategy Raises Eyebrows In Crypto Community</a>
After the announcement, World Liberty Financial bagged $250,000 worth of ENA tokens, Ethena Labs' native cryptocurrency. Since Nov. 30, it has bought 741,681 ENA tokens, worth $823,265 at current market prices.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">After announcing a partnership with <a href="https://twitter.com/ethena_labs?ref_src=twsrc%5Etfw">@ethena_labs</a>, Donald Trump's World Liberty Financial (<a href="https://twitter.com/worldlibertyfi?ref_src=twsrc%5Etfw">@worldlibertyfi</a>) spent 250K <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> to buy another 231,726 <a href="https://twitter.com/search?q=%24ENA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ENA</a> 20 minutes ago! Since November 30, World Liberty Financial has spent $45M to buy 6 crypto assets, including: • 8,105 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>… <a href="https://t.co/qD12WmjT7X">https://t.co/qD12WmjT7X</a> <a href="https://t.co/PrFmUH4KLH">pic.twitter.com/PrFmUH4KLH</a>
&mdash; Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1869476938823438648?ref_src=twsrc%5Etfw">December 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: World Liberty Financial was launched <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40905315/donald-trumps-new-crypto-project-world-liberty-financial-everything-you-need-to-know">as a decentralized money market </a>in September that will allow users to borrow, lend, and earn interest on cryptocurrencies.&nbsp;
The project was <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40722435/trumps-crypto-project-vows-to-bolster-us-financial-dominance-with-dollar-pegged-stablecoin">passionately promoted</a> by Trump and his family, and a firm associated with the President-elect, DT Marks DEFI, LLC, <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41395007/trump-affiliated-entity-will-get-75-of-world-liberty-financials-revenue-and-22-of-wlfi-tok">would receive 75% of the protocol revenue</a>.
Recently, the protocol roped in Tron (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/trx/usd">TRX</a>) founder Justin Sun <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42198909/trump-linked-crypto-platform-world-liberty-financial-appoints-justin-sun-as-advisor-after-30-million-investment">as its advisor</a>, following a $30 million investment into the protocol by the cryptocurrency mogul.
Price Action:  At the time of writing, ENA was exchanging hands at $1.11, up 1.86% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>, one of the few tokens to trade in the green on a day the <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42567762/bitcoin-ethereum-dogecoin-fall-after-fed-shows-no-interest-for-piling-btc-top-analyst-says-sentiment-shifting-2025-suddenly-looks-a-lot-less-rosy">broader market slumped</a>.
Image via Flickr
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42545656/bitcoin-is-no-manhattan-real-estate-peter-schiff-challenges-microstrategys-micheal-saylor-btc-doesnt-generate-any-income">Bitcoin Is No Manhattan Real Estate, Peter Schiff Challenges MicroStrategy&#8217;s Michael Saylor: &#8216;BTC Doesn&#8217;t Generate Any Income&#8217;</a></li>
</ul>

$ENA

$TRX

$USDC

$USDT

Trump-Backed World Liberty Financial Forges Partnership With Ethena Labs — ENA Token Gains Amid Broader Slump

The U.S. stock market experienced a severe selloff Wednesday after Federal Reserve Chair Jerome Powell&#8216;s comments triggered what CNBC&#8217;s Jim Cramer described as &#8220;incredible panic&#8221; in the markets.
What Happened: &#8220;People throwing away good and bad. Typical index fund behavior,&#8221; Cramer wrote on X, specifically highlighting concerns about small-cap stocks&#8217; performance. &#8220;And all of those people who loved the Small Caps (the Russell 2000?) now what??&#8221;
The market reaction came after Powell announced a 25-basis-point rate cut to 4.25%-4.5%, while signaling only two potential rate cuts in 2025 – fewer than the <a href="https://www.benzinga.com/news/econ-s/24/12/42561549/fed-slashes-interest-rates-by-0-25-as-predicted-december-dot-plot-flags-only-2-potential-cuts-in-2025">four projected in September</a>.
<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">Incredible panic out there.. People throwing away good and bad. Typical index fund behavior. And all of those people who loved the Small Caps (the Russell 2000?) now what??
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1869487562500497413?ref_src=twsrc%5Etfw">December 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The selloff was broad and deep, with the Dow Jones Industrial Average, as tracked by the SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) plunging 2.48% to close at 42,326, marking its worst one-day drop since September 2022. 
The S&amp;P 500 index — tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 2.9% to 5,872, while the tech-heavy Nasdaq 100, tracked by Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), dropped 3.6% to 21,209.
Small-cap stocks, as measured by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), bore the brunt of the selling pressure, tumbling 4.4% to 2,231, completely erasing their post-election gains.
See Also: <a href="https://www.benzinga.com/24/12/42567704/micron-technology-quantum-corporation-meta-amazon-tesla-why-these-5-stocks-are-on-investors-radars-today">Micron Technology, Quantum Corporation, Meta, Amazon, Tesla: Why These 5 Stocks Are On Investors&#8217; Radars Today</a>
Why It Matters: The &#8220;Magnificent Seven&#8221; tech stocks collectively <a href="https://www.benzinga.com/news/econ-s/24/12/42564807/powell-triggers-market-carnage-vix-spikes-58-stocks-plummet-dollar-hits-2-year-highs-bitcoin-nosedives">lost over $600 billion in market value</a>, with Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) leading the decline, down 8.2%.
Powell described the Fed&#8217;s approach as entering &#8220;a new phase&#8221; for monetary policy, emphasizing a more cautious stance on future rate cuts. The Fed now projects inflation to reach 2.5% in 2025, up from its <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42563299/feds-powell-shocks-markets-its-a-new-phase-were-significantly-closer-to-neutral">previous estimate of 2.1%</a>.
The market anxiety was reflected in the CBOE Volatility Index, which surged 58% to 25, while the U.S. dollar climbed to two-year highs. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 5.32%, trading just below $100,000, and gold dropped 2.1% to $2,580 per ounce.
Read Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/movers/24/12/42567762/bitcoin-ethereum-dogecoin-fall-after-fed-shows-no-interest-for-piling-btc-top-analyst-says-sentiment-shifting-2025-suddenly-looks-a-lot-less-rosy">Bitcoin, Ethereum, Dogecoin Fall After Fed Shows No Interest For Piling BTC: Top Analyst Says Sentiment Shifting — &#8216;2025 Suddenly Looks A Lot Less Rosy&#8217;</a></li>
</ul>
AI-Generated Image Created Using MidJourney
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

SPDR Dow Jones Industrial Average ETF Trust

TSLA

Jim Cramer Warns Of 'Incredible Panic' As Jerome Powell's Hawkish Outlook Send Stocks Into Free Fall: 'People Throwing Away Good And Bad'

Leading cryptocurrencies tanked Wednesday after the Federal Reserve's <a href="https://www.youtube.com/watch?v=ReqGMYHAbP0">hawkish outlook</a> and the central bank&#8217;s statement that it has no interest in owning Bitcoin.
<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>-4.94%</td>
<td>$100,644.84</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>-5.81%</td>
<td>$3,648.03</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>-8.26%</td>
<td>$0.3603</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin plunged sharply through the day but managed to stay above the psychologically crucial $100,000 mark.
Ethereum's descent was steeper, as the second-largest cryptocurrency retreated to the $3,600 region following a near 6% drop.
The slump triggered over $675 million in cryptocurrency liquidations in the last 24 hours, with long liquidations hitting $578 million.
The decline came following Fed Chair Jerome Powell's comments during the press conference following the Federal Open Market Committee meeting, where he disclosed that the central bank can't hold Bitcoin and it wasn't looking for a law change.
Bitcoin's Open Interest dropped 1.1%, however, the number of traders taking long positions for the coin surged above 50%, indicating expectations of a revival.
Over $1 billion in short positions risked liquidation if Bitcoin recovers to $105,900.
Market sentiment cooled from "Extreme Greed" to "Greed," according to the Cryptocurrency Fear &amp; Greed Index, signaling a decline in FOMO.
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>Pudgy Penguins (PENGU)</td>
<td>+21.82%</td>
<td>$0.03574</td>
</tr>
<tr>
<td>Bitget Token (BGB)</td>
<td>+7.95%</td>
<td>$4.24</td>
</tr>
<tr>
<td>Monero (XMR)</td>
<td>+0.87%</td>
<td>$214.23</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.51 trillion, dropping over 5% in the last 24 hours.
Stocks got pounded on Wednesday. The Dow Jones Industrial Average plunged 1,123.03 points, or 2.58%, to close at 42,326.87 as the index posted its 10th consecutive losing day. The S&amp;P 500 slipped 2.95%, ending at 5,872.16, while the tech-focused Nasdaq Composite dipped 3.56% to 19,392.69.
The market suffered <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42563299/feds-powell-shocks-markets-its-a-new-phase-were-significantly-closer-to-neutral">despite the Fed's latest 25-basis-point reduction</a> as Chair Powell hinted at a more cautious stance in 2025, with just two more 0.25% rate cuts projected next year, compared to the four anticipated in September.
The benchmark 10-year Treasury yields leaped to 4.5%, the highest since early June, as risk sentiment evaporated.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Widely followed cryptocurrency analyst and trader Ali Martinez weighed in on the central bank's policy shift, stating that 2025 looks a "lot less rosy."
"For now, keep calm, don't panic sell, and remember: markets hate uncertainty, but they also thrive on it when the dust settles. Let's see where this goes from here," Martinez advised traders.
In his analysis of the Federal Reserve action, Ali said, &#8220;It wasn't today's 25 bps cut that made markets freak out—it was the realization that inflation might stick around longer, and the Fed's not quite ready to take its foot off the gas. Sentiment is shifting, and 2025 suddenly looks a lot less rosy.
<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">What's the deal with today's market chaos? The Fed went ahead with a predictable 25 bps rate cut. No surprises there—97% of people expected it. But then, Bitcoin tanked around $100,000. Why? Let me explain without the usual Fed jargon. ————————- This is a glimpse of the premium… <a href="https://t.co/wANPW4t2uV">pic.twitter.com/wANPW4t2uV</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1869520970832138261?ref_src=twsrc%5Etfw">December 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Another well-known analyst, Rekt Capital, noted Bitcoin's daily close above $100,000 but cautioned that it wasn't enough.
&#8220;However, for BTC to move up from here, it would need to reclaim ~$101,000 as support, much like it did on Dec. 14. Otherwise, $101,000 could turn into new resistance, which could mean the downside isn&#8217;t over," the analyst stated.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> Ultimately, BTC has Daily Closed above $100k However for BTC to move up from here, it would need to reclaim ~$101k (red) as support, much like it did on December 14th Otherwise, $101k could turn into new resistance which could mean the downside isn&#39;t over<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a>… <a href="https://t.co/964IqYsdpo">https://t.co/964IqYsdpo</a> <a href="https://t.co/mxhL04PnsH">pic.twitter.com/mxhL04PnsH</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1869542342266683693?ref_src=twsrc%5Etfw">December 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42560698/microstrategys-aggressive-bitcoin-strategy-raises-eyebrows-in-crypto-community">MicroStrategy&#8217;s Aggressive Bitcoin Strategy Raises Eyebrows In Crypto Community</a></li>
</ul>

Bitcoin, Ethereum, Dogecoin Fall After Fed Shows No Interest For Piling BTC: Top Analyst Says Sentiment Shifting — '2025 Suddenly Looks A Lot Less Rosy'

Larry Ellison and Steve Jobs once devised a plan to rescue Apple Inc. and reinstate Jobs as CEO during the company&#8217;s challenging times.
What Happened: In a 2016 commencement speech at USC, Ellison, who co-founded Oracle Corporation, recounted a pivotal conversation with Jobs in 1995.
At the time, Apple was struggling, and Ellison proposed buying the company to make Jobs CEO.
&#8220;My idea was simple, buy Apple, and immediately make Steve CEO. Apple wasn't worth much back then, about $5 billion dollars,&#8221; he stated, adding, &#8220;We both had really good credit and I had already arranged to borrow all of the money. All Steve had to do was say yes.&#8221;
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However, Jobs suggested a more indirect approach: <a href="https://www.benzinga.com/markets/equities/23/12/36321524/if-you-invested-1000-in-apple-when-it-announced-next-acquisition-to-bring-back-steve-jobs-heres-">persuading Apple to acquire</a> NeXT, his company, and then gradually taking a leadership role.
Ellison shared that Jobs was not motivated by financial gain, and pointed out the importance of standing on &#8220;moral high ground.&#8221;
Despite Ellison&#8217;s initial reluctance, he supported Jobs&#8217; vision of eventually joining Apple&#8217;s board.
This decision led to Jobs&#8217; return and Apple&#8217;s transformation into the world's most valuable company today with a market capitalization of $3.749 trillion. Year-to-date, Apple&#8217;s stock has climbed 33.62%.
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Why It Matters: After co-founding Apple in 1976 alongside Steve Wozniak and Ronald Wayne, Jobs was <a href="https://www.benzinga.com/markets/equities/24/09/40876783/steve-jobs-came-back-to-apple-27-years-ago-today-after-12-years-in-exile-if-you-invested-1-000-w">pushed out nine years later</a> by John Sculley, the CEO he had brought on board.
Jobs made his return to Apple in 1996 when the company acquired NeXT, and by 1997, he was appointed interim CEO.
Apple's revival required a critical investment from competitor Microsoft Corporation, which was then spearheaded by Bill Gates, and Jobs' visionary approach to reimagining the company.
Jobs also drew lessons from Nike and transformed <a href="https://www.benzinga.com/news/24/05/38985210/steve-jobs-turned-around-apples-fortunes-27-years-ago-not-by-making-mac-better-than-windows-but-by-u">Apple's marketing strategies</a> to make them more impactful.
By the time he finally resigned as CEO in 2011, Apple had already transformed into a powerhouse of innovation. Jobs&#8217; successor, Tim Cook, had been prepared to take the reins, having already led the company during his health-related absences.
Photo: Courtesy of Wikimedia
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Larry Ellison Once Considered Buying Apple In Order To Make Steve Jobs The CEO Again: 'My Idea Was Simple…'

The stock market experienced a turbulent day following remarks from Federal Reserve Chair Jerome Powell. The S&amp;P 500 and Nasdaq indices both saw significant declines, with the former dropping by 2.95% and the latter tumbling 3.6%. Powell&#8217;s announcement of a <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42563299/feds-powell-shocks-markets-its-a-new-phase-were-significantly-closer-to-neutral">cautious approach</a> to future interest rate cuts contributed to the market&#8217;s volatility.
Despite the overall market downturn, several stocks stood out, drawing the interest of retail traders and investors. These are the top stocks that gained the attention of retail traders and investors throughout the day:
Micron Technology Inc.
Micron&#8217;s stock fell 4.33%, closing at $103.90. The stock hit an intraday high of $112.04 and a low of $102.73, with a 52-week range between $157.54 and $78.63. The company reported <a href="https://www.benzinga.com/news/earnings/24/12/42564387/micron-q1-earnings-revenue-miss-eps-beat-soft-guidance-sinks-shares-as-consumer-markets-turn-weaker-in-near-term">first-quarter earnings</a>, revealing a revenue miss of $8.71 billion, slightly below the consensus estimate. However, adjusted earnings per share beat expectations at $1.79. Despite this, soft guidance for the near term due to weaker consumer markets led to the stock&#8217;s decline.
Quantum Corporation
Quantum&#8217;s shares surged 153.04%, closing at $60.02, after reaching a high of $64.20 and a low of $22.15. The stock&#8217;s 52-week range is $64.20 to $2.22. The company announced the development of a <a href="https://www.benzinga.com/24/12/42556629/whats-going-on-with-quantum-corporation-stock-wednesday">parallel file system client</a> for its Myriad all-flash file system. This new client supports NVIDIA&#8217;s GPUDirect Storage, enhancing cross-platform compatibility.
Meta Platforms Inc.
Meta&#8217;s stock dropped 3.59%, closing at $597.19. It recorded an intraday high of $627.36 and a low of $596.32, with a 52-week high of $638.40 and a low of $340.02. The company is projected to see significant growth in advertising revenue, with Instagram <a href="https://www.benzinga.com/24/12/42560942/instagrams-ad-revenue-could-hit-32-billion-by-2025-driving-metas-growth-report">potentially generating</a> $32 billion by 2025. This growth is driven by the increasing popularity of its short-form video product, Reels, according to a previous report.
Amazon.com Inc.
Amazon&#8217;s shares declined by 4.60%, closing at $220.52. The stock&#8217;s intraday high was $231.40, with a low of $220.11, and a 52-week range of $233 to $144.05. The company is set to <a href="https://www.benzinga.com/24/12/42562732/mrbeasts-new-game-show-to-premiere-on-amazon-prime-video-thursday-why-billionaire-david-tepper-may-be-watching">premiere a new game show</a> by YouTube star MrBeast on its Prime Video platform. This move is anticipated to attract significant attention, as highlighted in a recent report.
Tesla, Inc.
Tesla&#8217;s stock plummeted 8.28%, closing at $440.13. The stock reached an intraday high of $488.54 and a low of $427.01, with a 52-week high of $488.54 and a low of $138.80. Despite the decline, Tesla remains a <a href="https://www.benzinga.com/24/12/42562149/teslas-bright-2025-outlook-rivian-faces-roadblocks-analyst-view">top pick for analysts</a> due to its long-term potential. Baird analyst Ben Kallo emphasized Tesla&#8217;s momentum, even amidst geopolitical and policy challenges, as detailed in a recent analysis.
Image via Shutterstock
Prepare for the day&#8217;s trading&nbsp;<a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a>&nbsp;by Benzinga.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

QMCO

Micron Technology, Quantum Corporation, Meta, Amazon, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Cathie Wood-led Ark Invest made notable trades on Wednesday, involving Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>).
The Tesla Trade 
The trade saw Ark Invest selling 20,582 shares of Tesla Inc. through its ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>). The sale was valued at approximately $9.06 million based on Tesla&#8217;s closing price of $440.13. Despite a recent price target increase to $515 by analysts, Tesla&#8217;s stock faced a decline of 7.02% on Wednesday. Analysts continue to view Tesla as a <a href="https://www.benzinga.com/24/12/42562149/teslas-bright-2025-outlook-rivian-faces-roadblocks-analyst-view">leading player in the electric vehicle sector</a>, emphasizing its long-term potential despite short-term volatility.
Elon Musk, Tesla&#8217;s CEO, recently <a href="https://www.benzinga.com/tech/24/12/42525257/analyst-hikes-teslas-price-target-to-515-musk-expresses-hope-for-stock-to-touch-69042">expressed optimism</a> about the stock reaching $690 in the future, although no specific timeline was provided. This sentiment comes amidst a broader reassessment of the electric vehicle market, with Tesla maintaining its status as a top pick among industry analysts.
The Coinbase Trade 
Ark Invest sold 13,780 shares of Coinbase Global Inc. through the Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>). This transaction was valued at approximately $3.85 million based on Coinbase&#8217;s closing price of $279.86. Coinbase has faced challenges recently, <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41637702/coinbase-q3-earnings-highlights-revenue-miss-eps-miss-transaction-revenue-falls-from-q2">including a revenue miss</a> in its third-quarter earnings report, which has pressured its stock performance. 
This is the <a href="https://www.benzinga.com/24/12/42545624/cathie-woods-ark-dumps-coinbase-stock-amid-bitcoin-highs-shopify-holdings-also-cut">second day in running</a> when Ark sold Coinbase stock, on Tuesday the Wood-led firm had unloaded $1.8 million worth of the stock. The sales come amid a frothy and volatile Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) market.
Other Key Trades:
<ul>
<li>Ark Invest bought shares of Futu Holdings Ltd through the ARKF ETF.</li>
<li>Sold shares of Shopify Inc. via the ARKF ETF. It also sold shares of Ionis Pharmaceuticals Inc. using the ARKG ETF.</li>
<li>Purchased shares of Tempus AI Inc. through the ARKK ETF.</li>
</ul>
Image via Ark Invest
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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Elon Musk's $690 Stock Price Optimism Aside, Cathie Wood's Ark Dumps $9 Million Worth Of Tesla Shares

Autonomous driving technology company TuSimple Holdings Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TSPH#OTC">TSPH</a>) has rebranded as CreateAI, marking its strategic shift toward gaming and animation powered by artificial intelligence. The company, which has partnered with Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) for self-driving technology, announced the transformation on Wednesday.
CreateAI unveiled &#8220;Ruyi,&#8221; an open-source AI model for digital content creation, building on its autonomous driving expertise. The company is developing a major role-playing game based on Louis Cha&#8216;s martial arts novels and an adaptation of &#8220;The Three-Body Problem&#8221; in collaboration with &#8220;Macross&#8221; creator Shōji Kawamori.
&#8220;Our integrated approach at the intersection of generative AI and digital entertainment creation is a differentiating factor,&#8221; said CEO Cheng Lu.
The San Diego-based company maintains offices in China and Japan, with its focus on gaming and animation markets.
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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.

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