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The United States is favored to win the most medals — and gold medals — at <a href="https://drupal-cloudfront.benzinga.com/topic/2024-summer-olympics">the 2024 Summer Olympics</a>.
And the U.S. men's basketball team could bring home one of those gold medals.
What Happened: The <a href="https://www.benzinga.com/general/sports-betting/24/07/39678086/bronny-james-to-win-nba-rookie-of-the-year-summer-league-debut-not-scaring-away-bettors-he">balance of international players</a> in the National Basketball Association in recent years could be a key topic at the Olympic Games, which take place from <a href="https://www.benzinga.com/general/sports-betting/24/07/39989579/6-stocks-going-for-gold-during-2024-summer-olympics-biggest-event-in-company-history">July 26 through Aug. 11</a>.
Back in 1992, only nine NBA players were featured on teams the U.S. Men's Basketball team played against. 
At the 2024 Olympics, the figure <a href="https://x.com/HoHighlights/status/1815743319529464011">jumps </a>to 61.
Team USA has one of its best-ever basketball teams for the Olympics. Observers are drawing comparisons to the 1992 Olympic gold medal-winning squad known as the "Dream Team."
The 2024 team is led by LeBron James, competing in his fourth Olympics, and Steph Curry, who will compete in his first Olympics.
The 1992 Olympics team was led by Michael Jordan and featured many all-time greats of the NBA of the 1990s. The team went undefeated during the Olympics, winning games by an average of 44 points. The Dream Team's closest game was a 32-point victory over Croatia in the gold medal game.
Team USA has won 16 gold medals, one silver medal and two bronze medals at the Summer Olympics, including four straight gold medals.
But in recent years, Team USA has struggled on the international stage, including no medals won at the 2019 and 2023 FIBA World Cups. The recent performance led to more NBA stars, including Curry, willing to play in this year's Olympics.
Team USA won its tune-up games before the Olympics started, but done so with lower point margins than many fans and sportsbooks predicted.
This includes USA beating South Sudan by only one point, a team it was favored to beat by 41.5 points. USA also beat Germany by only four points in a game it was favored by 15.5 points in.
Read Also: <a href="https://www.benzinga.com/general/sports-betting/24/07/39940590/scottie-scheffler-gold-medalist-golfer-looks-to-turn-2024-pga-tour-success-into-a-2024-oly" target="_blank" rel="noreferrer noopener">Scottie Scheffler, Gold Medalist? Golfer Looks To Turn 2024 PGA Tour Success Into A 2024 Olympic Medal</a>
Olympic Schedule: Team USA is part of Group C at the 2024 Summer Olympics and will play three games in the group stage against the other group teams, who are Serbia, Puerto Rico and South Sudan.
Below is the current <a href="https://www.usab.com/teams/5x5-mens-olympics/schedules">schedule </a>for Team USA and which Comcast Corp-owned (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) channel the games will air (all games will stream on Peacock as well):
<ul>
<li>July 28: vs. Serbia 11:15 a.m. ET on NBC</li>
<li>July 31: vs. South Sudan 3 p.m. ET on USA</li>
<li>Aug. 3: vs. Puerto Rico 11:15 a.m. ET on NBC</li>
</ul>
Team USA will continue advancing if they finish in first or second in the group stage. The top two third-place teams from the group stage will also advance to the quarterfinals.
The gold medal game will be played on Aug. 10 at 3:30 p.m. ET.
Betting Odds: Team USA is the heavy betting favorite to take home the gold medal at the 2024 Summer Olympics, but the tournament features many teams with NBA players.
Canada's roster includes 10 NBA players, including Shai Gilgeous-Alexander. France features several NBA players including reigning Rookie of the Year Victor Wembanyama. Serbia also features Nikola Jokic, who has won three of the last four NBA MVP awards.
Here are the current favorites to win the gold medal in Men's Basketball, as reported by sportsbook DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>):
<ul>
<li>USA: -500</li>
<li>Canada: +1,100</li>
<li>France: +1,200</li>
<li>Serbia: +1,600</li>
<li>Greece: +2,000</li>
<li>Germany: +3,000</li>
</ul>
A $100 bet on Team USA to win gold would pay out a profit of $20 if they are champions during the 2024 Summer Olympics.
Team USA has odds of -1,800 to win Group C and odds of -3,500 to win a medal.
Bettors can also bet on which player on Team USA will have the most points, rebounds and assists in the tournament and several other prop markets. LeBron and Curry are the co-favorites at +300 to lead USA in points.
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<li><a href="https://www.benzinga.com/general/sports-betting/24/07/39973454/do-summer-olympics-and-gold-medals-matter-to-the-stock-market-the-results-may-surprise-you">Do Summer Olympics (And Gold Medals) Matter To The Stock Market? The Results May Surprise You</a></li>
</ul>
Image: Shutterstock

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Sports

CMCSA

DKNG

USA Men's Basketball Team Heavily Favored In 2024 Summer Olympics: Can LeBron James, Steph Curry And Team Live Up To Dream Team Comparisons?

In a recent <a href="https://youtu.be/36cvblilqe8?si=XWKt14BKCVhrpx40&amp;t=2081">interview</a>, <a href="https://www.benzinga.com/fintech-awards/anthony-scaramucci?">Anthony Scaramucci</a>, founder of SkyBridge Capital and former White House Communications Director, shared his thoughts on the chaotic state of American politics and its impact on the financial markets. Known for his candid insights, Scaramucci didn&#8217;t hold back in his assessment.
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<h2 class="wp-block-heading">Markets Thrive on Chaos</h2>
Scaramucci kicked off by highlighting an unexpected market sentiment. &#8220;The markets like sh&#x2A;t shows,&#8221; he said bluntly. He explained that financial markets actually thrive on chaos and split governments, appreciating the inertia that often comes with such scenarios. &#8220;I think the FED has generally done a good job. The markets absorb the pain of 2022 and the rate hikes,&#8221; he added.
He argued that the Federal Reserve (FED) is still the primary driver of market dynamics: &#8220;Ultimately, this is still a Fed-driven market.&#8221; He also suggested that regardless of who wins the next election, the markets anticipate FED rate cuts by the end of the year.
Trending: Commercial real estate has historically outperformed the stock market, and<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!</a>
<h2 class="wp-block-heading">Biden Better For Business</h2>
Scaramucci also stated, &#8220;If you look at who&#8217;s better for capitalism and who&#8217;s better for the economy, it&#8217;s actually Joe Biden.&#8221; &#8220;But Trump has a perception because of The Apprentice and pro-business and this sort of thing that he would be better,&#8221; explained Scaramucci, who turned from a Trump supporter and associate in the past couple of years to a harsh and blunt critic.
Scaramucci also revealed Trump&#8217;s greatest fears and dislikes among politicians. &#8220;The number one Democrat that Trump was most scared of was Joe Biden,&#8221; he said, referencing Trump&#8217;s attempts to undermine Biden through his supposed dealings with Zelenskyy.
As for personal dislikes, Trump's animosity toward John McCain was unparalleled, according to Scaramucci. He recounted his failed attempt to get Trump to visit the ailing McCain, noting, &#8220;Trump was maniacal with the hatred of John McCain. A war hero, a veteran, a patriot – all the things that Trump is incapable of.&#8221;
See Also: If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends<a href="https://www.benzinga.com/money/arrived-private-credit-fund"> would you invest in it</a>?
<h2 class="wp-block-heading">Comments On Kamala Harris And Cryptocurrency</h2>
With President Joe Biden stepping out of the race, Scaramucci talked about what the Democrats might do next in another recent <a href="https://www.youtube.com/live/mFTI1NtBlBg">podcast</a>. He mentioned that the <a href="https://www.benzinga.com/24/07/39901896/anthony-scaramucci-says-kamala-harris-will-have-historic-win-against-trump-if-the-vice-president-doe">party likes to focus on identity politics</a> and emphasized the importance of having Kamala Harris, the first African American woman vice president, on the ticket.&nbsp;
According to him, if Harris secures the nomination and presents herself with the same competence and confidence as Condoleezza Rice, she will win the election. &#8220;If Harris shows up like she has over the last three and a half years, she&#8217;s going to get trounced,&#8221; he explained. &#8220;But if she shows her true capability, unguarded and unintimidated, she will achieve a historic win,&#8221; he 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">.<a href="https://twitter.com/KamalaHarris?ref_src=twsrc%5Etfw">@KamalaHarris</a> is capable and has a great team. I like where we're going and look forward to seeing her policies on crypto. <a href="https://t.co/b2GSsvK9Pc">https://t.co/b2GSsvK9Pc</a>
&mdash; Anthony Scaramucci (@Scaramucci) <a href="https://twitter.com/Scaramucci/status/1816266850650435659?ref_src=twsrc%5Etfw">July 25, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Trending: Can you guess which type of investments Morgan Stanley says will reach $2.7 trillion by 2027?<a href="https://www.benzinga.com/money/percent"> It even offers up to 20% APY potential to accredited investors up to $300 back in bonus for new users.</a>
In a recent post on X, he <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39948413/trump-era-white-house-official-anthony-scaramucci-says-kamala-harris-is-capable-and-has-a-">praised Harris and her team</a>, particularly looking forward to her policies on cryptocurrency. &#8220;Kamala Harris is capable and has a great team. I like where we&#8217;re going and look forward to seeing her policies on crypto,&#8221; he stated.
He&#8217;s confident that Harris&#8217;s administration <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39948413/trump-era-white-house-official-anthony-scaramucci-says-kamala-harris-is-capable-and-has-a-">would handle cryptocurrency regulations effectively</a>. &#8220;We have to give her some time to get her policies. I think it will be a dramatic new generation reset for the Democrats,&#8221; Scaramucci said.
Anthony Scaramucci&#8217;s thoughts give us a lively view of how politics can affect the economy. It&#8217;s important to see the whole picture, though. Both Biden and Trump bring different strengths and perceptions to the table. While Scaramucci argues that Joe Biden might be better for the economy, citing his policies, he acknowledges that Trump has a strong pro-business image that resonates with many. The mix of political leadership, market behavior, and regulations shapes our economic future. Understanding these factors helps us better handle the ups and downs of the financial markets.
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<li>Here&#8217;s the AI-powered startup that turns traders into influencers achieving 12% monthly growth –<a href="https://www.benzinga.com/money/xtrades"> invest in it at only 10 cents per share.</a></li>
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The Markets Like Sh*T Show, Split Governments And Inertia, Says Anthony Scaramucci – 'This Is Still A Fed Driven Market'

The Saver&#8217;s Match, created by the SECURE 2.0 Act of 2022, is poised to transform retirement savings for low-income workers, and could bring a whole new audience <a href="https://www.benzinga.com/personal-finance/24/07/39874181/irs-finalizes-10-year-rule-for-retirement-withdrawals-making-things-even-more-insanely-complicat">to financial advisors. </a>Set to launch in 2027, this program will convert the existing Saver&#8217;s Credit into a federal government match, offering up to $1,000 at a rate of 50 cents per dollar contributed.
According to the Employee Benefit Research Institute, at least 21.9 million workers will qualify for the Saver&#8217;s Match. However, industry experts are scrambling to ensure its effective implementation by the 2027 deadline.
Kim Olson from the Pew Charitable Trusts is leading efforts to assist the Treasury and IRS in launching the program, according to <a href="https://www.planadviser.com/scramble-make-savers-match-work/">planadviser</a>. Key focus areas include simplicity, efficiency, and awareness. Pew has convened working groups to address program publicity, eligibility identification, and fund distribution coordination.
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39992214/russell-2000-notches-third-week-of-gains-strongest-streak-since-august-2022-small-c">Russell 2000 Notches Third Week Of Gains, Strongest Streak Since August 2022: Small Caps Serve &#8216;As Economic Barometer,&#8217; Analyst Says</a>
Emerson Sprick of the Bipartisan Policy Center highlights the Saver&#8217;s Match as a significant improvement over the current Saver&#8217;s Credit, which faces issues such as low federal income tax liability among its target group and lack of awareness.
One major challenge is the &#8220;plumbing&#8221; with recordkeepers. Spencer Williams of the Retirement Clearinghouse suggests that the existing Portability Services Network could be adapted to support the Saver&#8217;s Match, providing a system for participant identification, account matching, and fund transfers.
Implementation hurdles include coordinating with state retirement programs, many of which use post-tax Roth accounts that currently can&#8217;t receive government funds. Solutions may involve creating separate pre-tax accounts for eligible participants.
Experts stress the importance of a robust public awareness campaign to ensure eligible workers know about and utilize the program. They hope the IRS will prominently feature the Saver&#8217;s Match during tax filing season.
Despite the challenges, the Saver&#8217;s Match represents a significant investment in low-to-moderate income workers&#8217; retirement savings. Its successful implementation could potentially reduce future reliance on other social assistance programs, making it a crucial development for both beneficiaries and the U.S. retirement system as a whole &#8211; and could create a new clientele for financial advisors.
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<li><a href="https://www.benzinga.com/general/sports-betting/24/07/39989579/6-stocks-going-for-gold-during-2024-summer-olympics-biggest-event-in-company-history">6 Stocks Going For Gold During 2024 Summer Olympics: &#8216;Biggest Event&#8217; In Company History</a></li>
</ul>
Photo: Shutterstock

Financial Advisors

Education

General

Government To Match Retirement Savings For Millions Of Workers, Opening New Opportunities For Financial Advisors

The German government kept the cryptocurrency market on tenterhooks with its sale of state-owned Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) in recent weeks. The process culminated earlier this month, with nearly 50,000 BTC, worth $2.89 billion, dumped in the open market.
One of the most vocal critics of the entire exercise has been Joana Cotar, a member of the German Bundestag. In an interview with Benzinga, she explained the grounds for her disapproval and why this was a "monumental missed opportunity."&nbsp;
<h2 class="wp-block-heading">&#8220;A Concerning Signal About Germany&#8217;s Readiness For 21st-Century Digital Economy&#8221;</h2>
The German lawmaker warned that selling the Bitcoin could cost the country billions in future value, which might have been realized by holding it as a long-term strategic asset. "This action sends a concerning signal about Germany&#8217;s readiness to adapt to the realities of the 21st-century digital economy," she argued.
The Eastern German state of Saxony carried out the liquidation. In a blog post, authorities <a href="https://www.medienservice.sachsen.de/medien/news/1077662">cited </a>a legal obligation to liquidate the seized assets if there is a threat of significant price loss.&nbsp;
Cotar criticized this explanation as "flawed" arguing it demonstrates a critical misunderstanding of Bitcoin&#8217;s nature. She proposed changing the law to allow government institutions to hold Bitcoin for extended periods, supported by secure storage guidelines and periodic review mechanisms
Like other maximalists in the space, the German politician expressed optimism about Bitcoin's inflation hedge potential due to its fixed supply. Additionally, she praised its decentralized nature, which could provide immunity against geopolitical risks and manipulation by big players.
<h2 class="wp-block-heading">Is There Merit In Adopting Bitcoin As A Legal Tender In Germany?</h2>
When Benzinga questioned her about the possibility of Bitcoin becoming a legal tender in a large economy like Germany, the lawmaker said the idea was &#8220;worth exploring.&#8221;&nbsp;
"Germany could consider creating a regulatory sandbox for Bitcoin businesses, similar to Switzerland&#8217;s &#8220;Crypto Valley&#8221; in Zug, to foster innovation while managing risks," Cotar suggested.&nbsp;
See Also:<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39359780/dogecoin-shiba-inu-floki-are-dino-coins-says-trader-he-likes-these-3-other-meme-coins-as-b?itm_source=parsely-api"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39936042/peter-thiel-founders-fund-lead-11m-investment-in-pudgy-penguins-parent-company-excited-to-">Peter Thiel, Founders Fund Lead $11M Investment In Pudgy Penguins Parent Company: &#8216;Excited to Drive the Consumer Crypto Revolution Forward&#8217;</a>
Other incremental steps advocated by her were offering tax incentives for clean energy-powered Bitcoin mining and integrating Bitcoin education into financial literacy programs.&nbsp;
"The mid to long-term goal should be to fully integrate Bitcoin into our economy and government operations."
<h2 class="wp-block-heading">Praise For Pro-Bitcoin President Nayib Bukele</h2>
The Bundestag member also had words of praise for Nayib Bukele's <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38781429/el-salvador-is-making-it-easy-for-everyone-to-know-how-much-bitcoin-the-country-holds-laun">pro-Bitcoin measures for El Salvador</a>. She praised initiatives such as Bitcoin bonds and the proposed Bitcoin City and stated that Germany may benefit from some of these laws, suited to its economic circumstances.
<h2 class="wp-block-heading">&#8220;IMF&#8217;s Opposition To Cryptocurrencies Is Short-Sighted&#8221;</h2>
But even as voices around the world build support for cryptocurrencies, major financial institutions like the International Monetary Fund continue to push against their widespread adoption. The IMF has <a href="https://www.benzinga.com/markets/cryptocurrency/23/02/31036666/imf-calls-for-coordinated-action-to-address-risks-posed-by-crypto-assets">warned</a> that adopting cryptocurrencies could undermine the effectiveness of monetary policy, circumvent capital flows, and lead to money laundering.
Cotar dismissed this opposition as "short-sighted." She said that the IMF has failed to understand the real potential of these technologies in addressing issues that it itself wants to solve, such as financial inclusion. She criticized the IMF's support for Central Bank Digital Currencies, seen as a major rival to cryptocurrency technology at this moment.
The pro-cryptocurrency legislator added that the first country from the Organisation for Economic Co-operation and Development group to embrace Bitcoin as a strategic reserve asset will likely gain a significant first-mover advantage.
"The country could experience an influx of tech talent and innovation, potentially becoming a hub for Bitcoin startups," she opined. "I believe holding Bitcoin as a strategic reserve could provide leverage by reducing dependence on the U.S. dollar."
Joana Cotar was a member of the far-right party, Alternative für Deutschland (Alternative for Germany), until 2022. She is currently an&nbsp;independent&nbsp;member of the Bundestag.
The office of the Saxon State Chancellery&nbsp;is yet to respond to Benzinga&#8217;s request for comment on the matter.
These insights set the stage for deeper discussions at the upcoming Benzinga <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39948413/trump-era-white-house-official-anthony-scaramucci-says-kamala-harris-is-capable-and-has-a-">Trump-Era White House Official Anthony Scaramucci Says Kamala Harris Is Capable And Has A Great Team: &#8216;Look Forward To Seeing Her Policies On Crypto&#8217;</a></li>
</ul>
Image Credit: Team Joana Cotar

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German Lawmaker Joana Cotar Calls 50K Bitcoin Sale By Her Nation A 'Monumental Missed Opportunity,' Says Holding King Crypto As 'Strategic Reserve' Could Reduce US Dollar Dependence

<a href="https://thewaltdisneycompany.com/marvel-studios-30-billion-box-office/" title="https://thewaltdisneycompany.com/marvel-studios-30-billion-box-office/">https://thewaltdisneycompany.com/marvel-studios-30-billion-box-office/</a>

Disney Announced Saturday Marvel Studios Crosses $30B At Worldwide Box Office

Kamala Harris has come a long way in her career, rising from being a local prosecutor in California to the United States vice president, and she is now a likely presidential candidate. Along this journey, her financial worth has grown significantly. So, how much is Kamala Harris worth today?
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Kamala Harris began her legal career in the Alameda County District Attorney's office in 1990. In 1998, she joined the San Francisco district attorney's office, and in 2004, she became the San Francisco District Attorney. According to Forbes, she made $140,000 a year in that role, which increased to over $200,000 by 2010.
In 2010, Harris became the Attorney General of California. This job came with a pay cut to $159,000, which she earned for the next three years. Despite the lower salary, the role gave her more visibility and influence.
Her tenure in local and state offices has resulted in two pensions, which Forbes estimates worth just under $1 million today.
Trending: Can you guess how many retire with a $5,000,000 nest egg? &#8211;<a href="https://www.benzinga.com/money/retire-5mil-nest-egg"> How does it compare to the average?</a>
According to local real estate agent Jerry Beverly, in 2012, after their mother passed away, Kamala Harris and her sister sold her Oakland condo for $710,000.&nbsp;
Two years later, Harris married Doug Emhoff, a managing partner at Venable LLP who made over $1 million yearly and had a well-funded IRA with many investments in individual stocks. Emhoff&#8217;s clients included big names like Walmart and Abbott Labs. As a result, Harris&#8217;s income increased significantly.&nbsp;
Her career continued to climb when she became a U.S. Senator in 2017, earning $174,000 a year. In 2018, she received an advance of more than $300,000 for her memoir, The Truths We Hold. According to tax reports ABC News accessed, she and Emhoff reported a joint income of nearly $1.9 million that year.
In 2020, Harris ran for president but eventually became Joe Biden's running mate. When they won, she became vice president, earning $235,000 a year. Meanwhile, Emhoff left his high-paying law job to teach at Georgetown University, making around $200,000 annually, according to the Independent.
See Also: How much money will a $200,000 annuity pay out each month?<a href="https://www.benzinga.com/money/200k-annuities-adv"> The numbers may shock you.</a>
In summary, Forbes estimates that Kamala Harris and Doug Emhoff have a net worth of about $8 million, roughly 22 times the median net worth of Americans in their age bracket. If she wins the presidency, her financial worth and public profile will continue to grow.
But even if she loses the presidential race, it might benefit her financially. Per Forbes, Mike Pence quadrupled his net worth from $1 million to $4 million by giving speeches and writing a memoir after leaving office in 2021 and running for president in 2023.&nbsp;
Joe Biden and his wife Jill earned over $17 million from memoirs and teaching after not running in 2016, increasing their net worth from $2.5 million to $8 million. Harris could follow these proven methods to boost her finances, even after a 2024 loss.
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From Attorney General To VP To Potential President. What Is Vice President Kamala Harris' Net Worth?

<a href="https://www.globenewswire.com/Tracker?data=UfA6eKtJZt5APanKy4U5ZxErhAJONd8XLZBiNx3VCJKccP9P9fbv-xi6LO6DpOJ46YkwxvwD9b_vICH-b_Qab9jTrYzLj_K5FlRsGabGOTY=">Acumen Pharmaceuticals, Inc.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABOS#NASDAQ">ABOS</a>), a clinical-stage biopharmaceutical company developing a novel therapeutic that targets toxic soluble amyloid beta oligomers (A&beta;Os) for the treatment of Alzheimer&rsquo;s disease (AD),&nbsp;today announced new findings from its Phase 1 INTERCEPT-AD study of sabirnetug (ACU193). The research highlights the experiences of patients in the clinical trial to inform development of future trials, biomarker data to support sabirnetug&rsquo;s mechanism of action, and an ultra-sensitive method of measuring small amounts of sabirnetug in cerebrospinal fluid (CSF). The posters will be presented at the Alzheimer&rsquo;s Association International Conference (AAIC&reg;) 2024 taking place in Philadelphia and online from July 28-Aug. 1, 2024.
&ldquo;These findings from our Phase 1 study of sabirnetug highlight not only the strength of the study design with participants having early symptomatic AD but also continue to support the potential for sabirnetug as a best-in-class treatment,&quot; said Eric Siemers, M.D., Chief Medical Officer of Acumen. &ldquo;Our research reflects our focus on incorporating the patient voice into drug development, provides further support for the mechanism of action of sabirnetug, and includes developing powerful tools for drug development with an assay that can measure even small amounts of sabirnetug bound to toxic soluble amyloid beta oligomers in patients in our clinical trials. These insights can help us as we advance clinical studies of sabirnetug, including our ongoing Phase 2 study. As recently approved therapies for Alzheimer&rsquo;s gain traction, we have an opportunity to advance a next-generation treatment that has the potential to optimize the benefit-risk ratio compared to first-generation disease-modifying treatments for AD.&rdquo;
Understanding th

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ABOS

Acumen Reported Phase 1 Results for Sabirnetug in Early Symptomatic Alzheimer's Disease At Alzheimer's Association International Conference

Alector, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALEC#NASDAQ">ALEC</a>), a clinical-stage biotechnology company pioneering immuno-neurology, today announced the presentation of a poster on baseline characteristics for the global INVOKE-2 Phase 2 clinical trial evaluating the safety and efficacy of AL002 in slowing disease progression in individuals with early Alzheimer&rsquo;s disease (AD) at the Alzheimer&#39;s Association International Conference&reg; 2024 (AAIC&reg;). The conference is being held online and in Philadelphia, Pennsylvania from July 28 &ndash; August 1, 2024.
&quot;The baseline characteristics of the patients in INVOKE-2 are important for assessing the quality of our double-blind, placebo-controlled Phase 2 clinical trial evaluating the safety and efficacy of AL002, the most advanced TREM2-activating candidate in clinical development for early Alzheimer&rsquo;s disease,&rdquo; said Gary Romano, M.D., Ph.D., Chief Medical Officer of Alector. &ldquo;We are pleased that the baseline clinical assessments confirm that the INVOKE-2 trial enrolled the intended population of participants with early Alzheimer&rsquo;s disease, allowing us to test Alector&rsquo;s hypothesis that treatment with this first-in-class TREM2 agonist may slow disease progression.&rdquo;

ALEC

Alector Announced Baseline Characteristics Data For The INVOKE-2 Study Confirm A Representative Study Population That Enables Testing Of The Effects Of A Novel TREM2 Agonist In Early Alzheimer's Disease

The past week has been a whirlwind of political developments following President Joe Biden&#8217;s decision to withdraw from the 2024 race causing a stir. The majority of Americans seem to approve of this decision. Meanwhile, speculation is rife about former President Donald Trump&#8217;s potential running mate, as Vice President Kamala Harris gains momentum.
North Korea&#8217;s dismissal of Trump&#8217;s claims of friendship and Nikki Haley&#8217;s endorsement of Trump over Harris have added fuel to election drama. Let&#8217;s delve into these stories in more detail.
Trump Vs. Harris: Public Opinion Post-Biden&#8217;s Exit
Following President Biden&#8217;s decision to withdraw from the 2024 race, a snap poll revealed that 71% of Americans either strongly or somewhat approved of his decision. The poll, conducted by YouGov, surveyed 2,048 adults shortly after Biden&#8217;s announcement.&nbsp;
<a href="https://www.benzinga.com/news/24/07/39878848/trump-vs-harris-first-poll-after-bidens-exit-shows-majority-approve-of-decision-but-heres-how-it-mig">Read the full article here.</a>
Trump&#8217;s Potential Running Mate: A Disruptive Change?
As Vice President Harris gains momentum, questions are being raised about whether Trump might replace Sen. J.D. Vance (R-Ohio) as his vice presidential candidate. Despite Trump&#8217;s continued support for Vance, the possibility of a replacement is being discussed, which experts warn could be &#8220;extraordinarily disruptive.&#8221;
<a href="https://www.benzinga.com/news/24/07/39979544/can-trump-replace-jd-vance-amid-kamala-harris-picking-pace-experts-warn-that-could-be-extraordinaril">Read the full article here.</a>
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/07/39924772/democratic-mega-donors-predict-kamala-harris-to-pick-vp-among-these-3-lawmakers-as-presidential-race?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Democratic Mega Donors Predict Kamala Harris To Pick VP Among These 3 Lawmakers As Presidential Race Against Trump Heats Up</a>
North Korea&#8217;s Response to Trump&#8217;s Friendship Claims
North Korea has dismissed Trump&#8217;s claims about his amicable relationship with leader Kim Jong Un, stating that they &#8220;do not care&#8221; about his words. This is the first response from North Korea following Trump's address at the Republican National Convention.
<a href="https://www.benzinga.com/news/24/07/39925959/kim-jong-un-rejects-donald-trumps-friendship-claims-north-korea-says-we-do-not-care-expresses-nuclea">Read the full article here.</a>
Nikki Haley&#8217;s Endorsement of Trump Over Harris
Nikki Haley, the former Governor of South Carolina, has voiced her support for Trump over Harris in the upcoming November election. She praised the Democrats for putting in a younger candidate but criticized Harris for her track record on illegal immigration.
<a href="https://www.benzinga.com/news/24/07/39975168/nikki-haley-says-democrats-are-very-smart-to-put-in-a-younger-candidate-against-trump-but-kamala-har">Read the full article here.</a>
Trump&#8217;s Complaint Against Harris&#8217;s Campaign
Trump&#8217;s campaign has filed a complaint with the Federal Election Commission against Harris&#8217;s campaign, accusing it of improperly acquiring funds from Biden&#8217;s campaign. The complaint alleges a $91.5 million heist and a &#8220;brazen money grab.&#8221;
<a href="https://www.benzinga.com/news/24/07/39922045/trump-campaign-files-election-commission-complaint-against-kamala-harris-accuses-vps-campaign-of-91">Read the full article here.</a>
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39957078/trump-vs-harris-new-poll-shows-close-race-but-vice-president-could-benefit-from-dramatic-shifts-amon?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Harris: New Poll Shows Close Race, But Vice President Could Benefit From ‘Dramatic Shifts' Among These Key Voter Groups</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>
Image Via Shutterstock

Media

From Trump Vs. Harris Poll To Kim Jong Un Dismissing Ex-President's Friendship Claims And More: This Week In Politics

This week has been a rollercoaster ride for the financial world. From warnings of a potential market crash to a surge in small-cap stocks, the market has seen it all.
The U.S. economy showed impressive strength, while predictions of soaring Bitcoin, gold, and silver prices added to the intrigue. Amidst all this, allegations of Treasury securities manipulation were strongly refuted.
Market Alarms And Federal Reserve Warnings
Economist&nbsp;Peter Schiff&nbsp;raised concerns about a potential market crash, highlighting the current market sell-off, the rise of safe-haven currencies, and the fall of commodity currencies. He warned that the &#8220;Markets are sounding an alarm,&#8221; suggesting that the Federal Reserve should cut rates before a recession hits.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39951461/markets-are-sounding-an-alarm-peter-schiff-warns-federal-reserve-should-cut-rates-b">Read the full article here.</a>
Small Cap Stocks See Major Investments
Investors have shown increasing bullishness on small-cap stocks, pouring over $6 billion into the Russell 2000 ETF this month. This is driven by optimistic projections for the interest-rate-sensitive segment of the market to thrive as the Federal Reserve rate-cut cycle approaches.
<a href="https://www.benzinga.com/markets/equities/24/07/39970069/investors-go-all-in-on-small-caps-pour-over-6-billion-into-russell-2000-etf-this-month-they-will">Read the full article here.</a>
See Also:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39905739/veteran-wall-street-investor-downplays-recession-odds-current-bull-market-has-more-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Veteran Wall Street Investor Downplays Recession Odds: ‘Current Bull Market Has More Support From Earnings'</a>
Impressive U.S. GDP Growth
Chris Zaccarelli, chief investment officer for Independent Advisor Alliance, stated that the U.S. economy is much stronger than people realize. He suggested that markets &#8220;should breathe a sigh of relief&#8221; after the recent GDP number, indicating a 2.8% growth in the economy above and beyond inflation.
<a href="https://www.benzinga.com/government/24/07/39962595/markets-should-breathe-a-sigh-of-relief-economist-says-new-gdp-report-is-very-impressive">Read the full article here.</a>
Bitcoin, Gold, And Silver Predictions
Robert Kiyosaki, the author of &#8220;Rich Dad Poor Dad,&#8221; predicted a significant surge in the prices of Bitcoin, gold, and silver if former President Donald Trump wins the 2024 election. He suggested that a Trump presidency would lead to a weaker dollar, boosting exports and job creation, and consequently driving up the prices of these assets.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39900472/rich-dad-poor-dad-author-robert-kiyosaki-predicts-bitcoin-gold-and-silver-prices-will-soar">Read the full article here.</a>
Janet Yellen Refutes Treasury Manipulation Claims
U.S. Treasury Secretary&nbsp;Janet Yellen&nbsp;strongly refuted allegations of manipulating the issuance of Treasury securities. These accusations were made by economist Nouriel Roubini, who suggested that such manipulation was aimed at reducing real borrowing costs across the economy.
<a href="https://www.benzinga.com/news/24/07/39997008/janet-yellen-rejects-economist-roubinis-and-trump-era-officials-claims-of-manipulation-in-treasuries">Read the full article here.</a>
Read Now:
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<li><a href="https://www.benzinga.com/government/24/07/39867425/contrarian-analyst-turns-to-bonds-ahead-of-fed-rate-cuts-presidential-election-maybe-tariffs-deflati" target="_blank" rel="noreferrer noopener">Contrarian Analyst Turns To Bonds Ahead Of Fed Rate Cuts, Presidential Election: ‘Maybe Tariffs Deflationary Not Inflationary'</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>
Image generated using AI via Midjourney

Economics

Peter Schiff Warns Of Potential Market Crash, Small Cap Stocks See Major Investments And More: This Week In Economics

The past week was a whirlwind for Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), with news ranging from product discontinuation to market share shifts, AI regulation support, and a public spat with a tech giant. Here&#8217;s a quick rundown of the top stories that kept the tech giant in the headlines.
Apple To Discontinue iPhone 17 Plus for Ultraslim Version
According to a report by Ming-Chi Kuo, a renowned analyst at TF Securities, Apple plans to phase out the iPhone 17 Plus model, which currently accounts for only 5-10% of total new iPhone shipments. In its place, the company intends to introduce an ultra-slim variant in the second half of 2025. Kuo believes that the Plus model has become redundant due to the comprehensive coverage of high-end market segments by the standard, Pro, and Pro Max models. <a href="https://www.benzinga.com/news/24/07/39951687/apple-to-discontinue-iphone-17-plus-in-favor-of-an-ultraslim-version-says-prominent-tipster">Read the full article here.</a>
Apple&#8217;s Market Share Drops in China
Apple&#8217;s market share in China has dropped to 14% in Q2 2024, a decrease of two percentage points from the same period last year, according to data from Canalys. The iPhone maker fell from third place to sixth in the country, while Huawei Technologies saw a significant surge in smartphone shipments, with a 41% year-on-year increase in the same quarter. This surge is largely attributed to the launch of Huawei&#8217;s new Pura 70 series in April. <a href="https://www.benzinga.com/markets/equities/24/07/39954971/apple-drops-from-3rd-to-6th-in-china-amid-intensifying-competition-huawei-shipments-surge-41-in-">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/news/24/07/39997056/top-analyst-says-openais-ai-powered-search-engine-likely-isnt-a-threat-to-google-its-hard-to-see-why">Top Analyst Says OpenAI&#8217;s AI-Powered Search Engine Likely Isn&#8217;t A Threat To Google</a>
Apple Pledges Support for Biden&#8217;s AI Regulations
Along with other industry giants such as OpenAI Inc., Amazon.com, Alphabet Inc., Meta Platforms Inc., and Microsoft Corp., Apple has committed to the voluntary artificial intelligence (AI) safeguards set by President Joe Biden&#8217;s administration. The tech giant has pledged to test their AI systems for potential discriminatory tendencies, security flaws, or national security risks. This commitment comes amid controversy stirred by Tesla Inc. CEO Elon Musk over Apple&#8217;s plan to integrate OpenAI's chatbot application, ChatGPT, into its voice-command assistant on iPhones. <a href="https://www.benzinga.com/news/24/07/39984404/apple-joins-meta-and-google-pledges-support-for-bidens-ai-regulations">Read the full article here.</a>
Apple to Integrate A18 Chip for AI Features
Apple is reportedly planning to integrate its A18 chip into its upcoming entry-level iPhones and iPads to enable them to run Apple Intelligence, the company&#8217;s suite of AI features. This news follows speculations surrounding the specifications of the upcoming fourth-generation iPhone SE, which is likely to be powered by the A18 chip, the same chip anticipated to power the entire iPhone 16 lineup. <a href="https://www.benzinga.com/news/24/07/39904665/apple-plans-a18-chip-integration-to-bring-ai-features-to-iphone-16-its-entry-level-variants-and-ipad">Read the full article here.</a>
Zuckerberg Criticizes Apple&#8217;s &#8220;Soul-Crushing&#8221; Tactics
Meta Platforms, Inc. CEO Mark Zuckerberg criticized Apple in an interview on Tuesday, expressing his desire to avoid the iPhone maker's "soul-crushing" tactics by releasing the largest open-source AI model ever. Zuckerberg expressed his aspiration to steer his own technological "destiny" and evade the "soul-crushing" strategies of Apple. <a href="https://www.benzinga.com/news/24/07/39926076/mark-zuckerberg-slams-tim-cooks-apple-after-cupertino-reportedly-rejected-its-iphone-ai-partnership">Read the full article here.</a>
Read Next:
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<li><a href="https://www.benzinga.com/news/24/07/39902838/broadcom-to-challenge-nvidia-dominance-analyst-says-jensen-huang-led-chip-giants-competitor-is-catch?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Broadcom To Challenge Nvidia Dominance? Analyst Says Jensen Huang-Led Chip Giant&#8217;s Competitor Is &#8216;Catching Up&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock
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/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

Tech

AAPL

Apple's Market Share Drops In China, A18 Chip Integration To Bring AI Features To iPhone 16 And More: This Week In Appleverse

The past week was filled with exciting developments in the tech world, particularly in the realm of artificial intelligence (AI). From Elon Musk unveiling his ambitious AI plans to Mark Zuckerberg taking a swipe at Apple, and Taiwan announcing a massive economic reform, the week was anything but dull. Let&#8217;s dive into the details.
Musk&#8217;s AI Power Play 
Elon Musk, CEO of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), announced the timeline for the chatbot models of his AI company xAI. Musk revealed that Grok 2, one of the models, has completed its training and is currently in the bug-fixing stage, with an official release planned for next month. <a href="https://www.benzinga.com/news/24/07/39897590/elon-musk-says-grok-3-should-be-the-most-powerful-ai-upon-its-release-gives-timeline-for-xai-models">Read the full article here.</a>
xAI&#8217;s Supercluster Launch
Musk&#8217;s AI startup xAI, in collaboration with Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), successfully initiated the training of the Memphis Supercluster, a powerful AI training cluster, with 100,000 Nvidia H100 GPUs. Musk took to Twitter to express his admiration for the teams involved in the launch. <a href="https://www.benzinga.com/news/24/07/39881748/elon-musks-xai-flips-the-switch-on-100k-nvidia-h100-gpus-worth-up-to-4b-in-memphis-supercluster-most">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/news/24/07/39901629/elon-musk-says-google-co-founder-and-one-of-his-best-friends-larry-page-thought-eventually-we-will-a?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Google Co-Founder And One Of His &#8216;Best Friends&#8217; Larry Page Thought Eventually We Will All &#8216;Upload Our Minds To The Computer&#8217;</a>
Zuckerberg&#8217;s Apple Critique 
Mark Zuckerberg, CEO of Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), criticized Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) in an interview, expressing his desire to avoid Apple&#8217;s &#8220;soul-crushing&#8221; tactics by releasing the largest open-source AI model ever. <a href="https://www.benzinga.com/news/24/07/39926076/mark-zuckerberg-slams-tim-cooks-apple-after-cupertino-reportedly-rejected-its-iphone-ai-partnership">Read the full article here.</a>
Taiwan&#8217;s Economic Reform
Taiwan&#8217;s Premier Cho Jung-tai announced a sweeping economic and social reform plan, aiming to attract nearly $100 billion in investments. The reform plan focuses on energy, artificial intelligence, and infrastructure. <a href="https://www.benzinga.com/markets/asia/24/07/39950335/taiwan-unveils-100b-economic-reform-plan-after-trump-said-it-should-pay-us-for-defense-will-fuel-nvi">Read the full article here.</a>
Musk and Zuckerberg Agree
Musk publicly expressed his support for Zuckerberg&#8217;s views on the ongoing debate over open-source versus closed-source AI models. This came after a user on X, formerly Twitter, shared a comment from Meta CEO's blog post criticizing closed model providers for lobbying against open source. <a href="https://www.benzinga.com/news/24/07/39925842/elon-musk-agrees-with-arch-rival-mark-zuckerberg-after-meta-ceo-slams-closed-providers-like-openai-f">Read the full article here.</a>
Read Next:
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<li><a href="https://www.benzinga.com/news/23/04/31876729/elon-musk-proposes-plan-to-neutralize-rogue-ai-heres-what-he-told-tucker-carlson?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Proposes Plan To Neutralize Rogue AI</a></li>
</ul>
Photo by Andrea De Santis on Unsplash
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/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

NVDA

TSLA

Elon Musk's AI Ambitions, Mark Zuckerberg's Apple Critique, And Taiwan's $100B Economic Reform: This Week In AI

Thousands of athletes around the world will compete for medals at the<a href="https://www.benzinga.com/topic/olympics"> 2024 Summer Olympics. </a>
Winning an Olympic medal can be a valuable experience for athletes as they can earn new endorsements and sponsorships based on their success. 
Some countries also pay athletes for winning medals during the Olympic Games. Olympic winners also receive a medal that has valuable metal material in it and has resale value years down the road.
Olympic Medal Payouts:&nbsp;The USA is <a href="https://www.benzinga.com/general/sports-betting/24/07/39989579/6-stocks-going-for-gold-during-2024-summer-olympics-biggest-event-in-company-history">favored to win </a>the most overall medals and gold medals at the 2024 Summer Olympics. The country has won the most medals at several recent consecutive Summer Olympics and has won the most gold medals in the past three Summer Olympics. 
Running July 26 through Aug. 11, coverage of the 2024 Summer Olympics will be done by Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) in the United States across various channels and the Peacock streaming platform.
U.S. athletes that win 2024 Olympic medals are paid&nbsp;$37,500 for golds, $22,500 for silver and $15,000 for bronze, according to USA Today. 
Other countries like Malaysia, Morocco and Serbia pay $200,000 to their athletes for a gold medal win. At least nine countries pay $100,000 or more for each gold medal won to their athletes, USA Today reported. 
U.S. athletes that earn more than $1 million annually get the amounts they&#8217;re paid for winning medals taxed. Michael Phelps paid around $55,000 in taxes from his 2016 Olympic medal-winning payouts, according to<a href="https://twitter.com/JoePompliano/status/1418654958434594817" target="_blank" rel="noreferrer noopener">&nbsp;Joe Pompliano</a>.
Read Also: <a href="https://www.benzinga.com/general/sports-betting/24/07/39989579/6-stocks-going-for-gold-during-2024-summer-olympics-biggest-event-in-company-history">6 Stocks Going For Gold During 2024 Summer Olympics: &#8216;Biggest Event&#8217; in Company History</a>
Olympic Medal Value:&nbsp;The 2024 medals will be different from other games and <a href="https://www.nbcolympics.com/news/paris-olympic-medalists-take-home-actual-piece-eiffel-tower">contain </a>iron from the legendary Eiffel Tower that was removed during a previous renovation. 
Here are the current <a href="https://www.dailymetalprice.com/metalprices.php?c=fe&amp;u=kg&amp;d=1">values </a>of the metals inside the medals at the time of writing and their components:
<ul>
<li>Gold medal contains 505 grams of silver, 6 grams of gold and 18 grams of iron: $909.17</li>
<li>Silver medal contains 507 grams of silver and 18 grams of iron: $451.23 </li>
<li>Bronze medal contains 415.15 grams of copper, 21.85 grams of zinc and 18 grams of iron: $3.81 </li>
</ul>
The totals don&#8217;t count the historic value of the pieces from the Eiffel Tower. 
Of course, Olympic medals can be quite valuable later in resale at auction depending on the sport, athlete and year of the games.
Typical medal resale values&nbsp;<a href="https://www.usatoday.com/story/sports/olympics/2014/09/16/olympic-medals-auction-collectors/15736857/" target="_blank" rel="noreferrer noopener">are&nbsp;</a>$5,000 to $6,000 for bronze, $8,000 for silver and $10,000 for gold.
A Jesse Owens 1936 gold medal sold for $1.47 million in 2017 to billionaire Ron Burkle. Two &#8220;Miracle on Ice&#8221; 1980 gold medals sold for $310,700 and $262,900.
Before 1960, Olympic medals weren&#8217;t&nbsp;engraved for the sport or event, making them harder to track to a specific event or athlete.
An 1896 first place medal from the first modern Olympic Games <a href="https://apnews.com/article/2020-tokyo-olympics-lifestyle-sports-europe-sweden-olympic-team-81b60c74804c38f10956fe754bb531d8" target="_blank" rel="noreferrer noopener">sold </a>for $180,000 previously. The first Olympics featured only 250 athletes and awarded silver medals for first place, bronze for second and no third place medal.
Read Next: 
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<li><a href="https://www.benzinga.com/general/sports-betting/24/07/39973454/do-summer-olympics-and-gold-medals-matter-to-the-stock-market-the-results-may-surprise-you">Do Summer Olympics (And Gold Medals) Matter To The Stock Market? The Results May Surprise You</a></li>
</ul>
This article was previously published by Benzinga and has been updated.
Photo: Adwo/Shutterstock.com

How Much Are Physical 2024 Olympic Gold Medal, Silver Medal And Bronze Medals Worth? The Answer Might Surprise You

The week was a whirlwind of cryptocurrency news, with big names like Elon Musk and Vice President Kamala Harris making headlines.
From Musk&#8217;s profile picture causing a meme coin surge to Harris&#8217; team seeking crypto advice from Mark Cuban, the crypto world was buzzing with activity. Here&#8217;s a quick recap of the top stories.
Musk&#8217;s Meme Coin Magic
A simple change in profile picture by the Tesla CEO led to a massive surge in the value of Dark Maga (CRYPTO: DMAGA), a politics-themed meme coin. The coin, featuring Donald Trump with laser eyes, saw a 4,300% increase in value within 24 hours of Musk&#8217;s profile picture change.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39891699/elon-musk-puts-on-dark-maga-laser-eyes-turning-5k-into-1-8m-for-one-lucky-trader">Read the full article here.</a>
Harris&#8217; Crypto Consultation
Vice President Harris&#8217; advisors have reportedly been in discussions with billionaire and crypto enthusiast, Mark Cuban. This suggests a potential shift in the Democratic Party's perspective on digital assets, especially as Harris&#8217; presidential campaign is underway.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39916724/vice-president-kamala-harris-team-contacted-mark-cuban-on-crypto-policy">Read the full article here.</a>
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39955624/is-dogecoin-really-moving-according-to-plan-prominent-analyst-claims-i-havent-sold-one-sin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Is Dogecoin Really Moving &#8216;According To Plan?&#8217; Prominent Analyst Claims: &#8216;I Haven&#8217;t Sold One Single DOGE, I&#8217;ve Just Been Buying&#8217;</a>
Lummis&#8217; Bitcoin Battle
Senator Cynthia Lummis (R-Wyo.) criticized the Joe Biden administration&#8217;s proposal to impose a 30% tax on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) mining operations, calling it a &#8220;blatant attack&#8221; on innovation and American excellence. She outlined the potential adverse effects of such a tax in an &#8220;orange paper.&#8221;
<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39923307/senator-cynthia-lummis-slams-biden-administrations-dangerous-scheme-to-impose-30-tax-on-bi">Read the full article here.</a>
Harris&#8217; Bitcoin Conference Snub
Vice President Harris will not be attending the upcoming Bitcoin 2024 conference, according to David Bailey, CEO of BTC Inc. This decision has sparked controversy within the cryptocurrency community, highlighting the complex relationship between the current administration and the digital asset industry.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39938175/vice-president-harris-snubs-bitcoin-conference-would-have-been-a-disaster-for-her-shrugs-o">Read the full article here.</a>
Schiff&#8217;s Bitcoin Blast
Economist Peter Schiff criticized Bitcoin investors' expectations from Trump, of the cryptocurrency being designated as a strategic reserve asset, likening it to political vote-buying tactics. He equated this to President Biden's promise to forgive student loans to win votes.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39948158/peter-schiff-compares-hopes-that-trump-declares-bitcoin-as-treasury-reserves-with-bidens-s">Read the full article here.</a>
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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/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>
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Cynthia Lummis Slams Biden's 30% Bitcoin Mining Tax Proposal, Vice President Kamala Harris Snubs Bitcoin Conference And More: Top Crypto Updates This Week

Mary Trump says her uncle Donald Trump is &#8220;scared&#8221; to face Kamala Harris for the presidency because he is &#8220;afraid of getting beaten by a girl.&#8221;
What Happened: Mary Trump made the comments in a <a href="https://www.youtube.com/watch?v=r8ajvqjQsyo">YouTube video</a> on Friday. In a separate Substack <a href="https://www.marytrump.org/p/donald-is-terrified-of-his-new-competition">post</a> published Wednesday, she said her uncle hates women, especially strong women and minorities. That&#8217;s why Harris &#8220;terrifies him to the point of incoherence,&#8221; she said. 
&#8220;Faced with the reality that he is now running against a vibrant, intelligent, experienced woman who is fully two decades younger than he is, Donald spent Sunday and Monday flailing, trying to find an angle of attack that would stick,&#8221; she added.
Referring to Tesla CEO Elon Musk changing his mind about pledging $45 million a month to Donald Trump&#8217;s campaign, the psychologist and podcaster said, &#8220;Donald and his sycophants, enablers, and backers are scared.&#8221; 
She said that Musk&#8217;s backtracking may have to do with the fact that &#8220;he just doesn't feel like setting that much money on fire in service to a losing candidate.&#8221;
The whole Republican campaign had, up until now, focused on President Joe Biden&#8217;s age and fitness and to the &#8220;attacks the Republican-controlled House of Representatives have launched on his family,&#8221; Mary Trump said. &#8220;Now, they have to start over and come up with a new strategy that somehow makes Donald, the oldest presidential candidate in American history, seem a reasonable alternative to Harris.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/07/39950334/anthony-scaramucci-flags-demographic-data-causing-jitters-in-trumps-campaign-calls-harris-a-competen">Anthony Scaramucci Flags Demographic Data Causing Jitters In Trump&#8217;s Campaign, Calls Harris A &#8216;Competent Steward Of The American Century&#8217;</a>
Why It&#8217;s Important: Polls conducted since Biden quit the race have shown that Harris is faring better than Biden against Trump. Some of the polls show a neck-in-neck race.
A recent CNN poll found that half of those who backed Harris said <a href="https://www.benzinga.com/news/24/07/39957078/trump-vs-harris-new-poll-shows-close-race-but-vice-president-could-benefit-from-dramatic-shifts-amon">their vote was in support of her rather than a vote against Trump</a>. By contrast, a June poll found that just 37% of Biden supporters said their vote was mainly to express support for Biden rather than to oppose Trump.
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Trump's Niece Says Ex-President 'Scared' To Face Harris: 'He Is Now Running Against A Vibrant, Intelligent, Experienced Woman'

A poll this week reveals a tight race for the presidency between Vice President Kamala Harris and former President Donald Trump. This comes in the wake of President <a href="https://www.benzinga.com/news/24/06/39565763/as-trump-prepares-for-comeback-latest-pew-poll-reveals-which-presidential-candidate-rest-of-world-pr">Joe Biden&#8216;s decision to step out of the race.</a>
What Happened: The poll shows that Democrats are rallying behind Harris as the presumptive nominee, with 70% of Democratic voters expressing their preference for her. 
The <a href="https://www.nytimes.com/interactive/2024/07/25/us/elections/times-siena-poll-toplines.html">poll</a>, conducted by The New York Times/Siena College, reveals a narrow lead for Trump over Harris among likely voters, 48% to 47%, a significant improvement for Democrats compared to a poll in early July.
Trump&#8217;s favorability rating soared to its peak in a national New York Times survey, following an assassination attempt less than two weeks ago. Harris, however, is gaining momentum among younger and nonwhite voters, demographics that Biden had difficulty attracting.
The poll also shows Harris with a favorable rating of 46%, higher than Biden&#8217;s but still trailing Trump&#8217;s 48%. The views of Trump, Biden, and Harris are sharply divided along gender lines.
Also Read: <a href="https://www.benzinga.com/news/24/07/39657200/ex-trump-staffer-shares-texts-to-prove-that-ex-presidents-campaign-settled-to-keep-discrimination-an">Ex-Trump Staffer Shares Texts To Prove That Ex-President&#8217;s Campaign Settled To Keep Discrimination And Sexual Harassment Lawsuits Quiet</a>
As the race intensifies, Harris faces challenges. She is the sitting vice president during a time when 75% of voters rate the nation&#8217;s economic conditions as &#8220;fair&#8221; or &#8220;poor.&#8221;
More voters perceive Trump as a strong leader than those who view Harris in the same light.
According to the poll, independent candidate Robert F. Kennedy Jr.'s share of the vote continues to drop, hitting just 5 percent of likely voters in the new survey.
Why It Matters: The poll offers a glimpse into the presidential race during one of the most turbulent and unpredictable periods in contemporary American history. 
With the Democratic Party rallying behind Harris, the 2024 election is shaping up to be a fiercely contested battle.
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This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Trump Vs. Harris: Latest Survey Indicates Positive Signs For This Candidate

Former First Lady <a href="https://www.benzinga.com/topic/melania-trump" target="_blank" rel="noreferrer noopener">Melania Trump</a> has announced that her memoir &#8220;Melania&#8221; <a href="https://www.benzinga.com/topic/2024-election" target="_blank" rel="noreferrer noopener">will be published this fall</a>.
The book will reportedly feature personal anecdotes and family photos that have never before been shared with the public.
&#8220;&#8216;Melania&#8217;&nbsp;is a powerful and inspiring story of a woman who has carved her own path, overcome adversity and defined personal excellence. The former First Lady invites readers into her world, offering an intimate portrait of a woman who has lived an extraordinary life,&#8221; according to a press release issued by her office.
Also Read: <a href="https://www.benzinga.com/news/24/05/38630905/did-donald-trump-deny-stormy-daniels-affair-to-shield-wife-and-firmelania-from-scandal-former-top-ai" target="_blank" rel="noreferrer noopener">Did Donald Trump Deny Stormy Daniels Affair To Shield Wife Melania From Scandal? Former Top Aide Testifies In Hush-Money Trial</a>
Melania Trump has remained largely out of the spotlight while her husband, former President Donald Trump, campaigns for a return to the White House. She has been an enigmatic presence since the launch of his first presidential campaign in 2015.
Throughout her tenure as first lady, she prioritized privacy, focusing on raising their son Barron Trump and championing her &#8220;Be Best&#8221; initiative to support children&#8217;s social, emotional, and physical well-being, <a href="https://www.theguardian.com/books/article/2024/jul/26/melania-trump-memoir" target="_blank" rel="noreferrer noopener">reported</a> The Guardian.
Though she attended her husband&#8217;s 2024 campaign launch and the closing night of last week&#8217;s Republican National Convention, Melania Trump has otherwise mostly avoided the campaign trail.
Notably, she did not deliver a speech at this year&#8217;s convention, breaking with the tradition followed at the 2016 and 2020 Republican gatherings, The Guardian added.
The Memoir Edition of &#8220;Melania&#8221; is a 304-page jacketed hardcover book that includes 48 pages of never-before-seen photographs. It will be available for $40, with signed copies available for $75.
Skyhorse Publishing will release the book. Skyhorse is known for publishing other works by Trump supporters, including former New York City Mayor Rudolph Giuliani and attorney Alan Dershowitz.
Skyhorse has also collaborated with independent candidate Robert F. Kennedy Jr. and former Trump insider Michael Cohen, who later became a prominent critic.
Additionally, some Skyhorse books feature forewords by Trump ally Steve Bannon, The Guardian added.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Equities

Melania Trump's New Memoir Promises Unseen Photos And Revelations Before Election

Former President Donald Trump sparked controversy with a statement made at a Florida event on Friday. He suggested that if he were to win the upcoming election, there would be no <a href="https://www.benzinga.com/news/24/07/39657200/ex-trump-staffer-shares-texts-to-prove-that-ex-presidents-campaign-settled-to-keep-discrimination-an">need for people to vote in the future.</a>
What Happened: Trump made this remark while addressing an audience at a Turning Point Action event in West Palm Beach. He urged the crowd, particularly Christians, to participate in the upcoming election in November, and said that they wouldn't have to do it again if they elected him because "everything" would be "fixed."
Trump, who previously challenged the 2020 election results, has faced accusations of authoritarian behavior. In response to these allegations, he has stated that he would not be a dictator &#8220;except for day one&#8221; of his potential second term.
"You won't have to do it anymore. Four more years, you know what, it will be fixed, it will be fine, you won't have to vote anymore, my beautiful Christians,&#8221; he said <a href="https://thehill.com/homenews/campaign/4795823-trump-encourages-christians-vote/">at </a>the rally.
"I love you Christians. I'm a Christian. I love you, get out, you gotta get out and vote. In four years, you don't have to vote again, we'll have it fixed so good you're not going to have to vote," Trump said.
Also Read: <a href="https://www.benzinga.com/news/24/07/39761289/trumps-niece-accuses-him-of-lying-about-involvement-in-controversial-project-2025-my-uncle-likes-to">Trump&#8217;s Niece Accuses Him Of Lying About Involvement In Controversial Project 2025: &#8216;My Uncle Likes To Call America a &#8216;Stupid Country.&#8217; But We&#8217;re Not Nearly As Stupid As He Hopes We Are &#8230;&#8217;</a>
In 2022, Trump reiterated his unfounded claim that the results of the 2020 election were manipulated against him. He also advocated for the &#8220;termination&#8221; of the Constitution, arguing that a &#8220;massive fraud&#8221; of the magnitude of the election justifies the abolition of all rules, regulations, and articles, including those in the Constitution.
Trump is expected to run against Vice President Kamala Harris in the November election. During the same event, he questioned how Catholics and Jewish voters could support Democrats.
Why It Matters: Trump&#8217;s recent comments have raised eyebrows and sparked debate. His controversial remarks about voting and the Constitution have been met with criticism, with some seeing them as an attack on democratic principles. 
These statements also add to the ongoing debate about Trump&#8217;s political intentions and his potential candidacy in the upcoming election. 
The reactions to these comments will likely continue to shape the political landscape as the election approaches.
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This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Trump Raises Eyebrows With Controversial Remark At Florida Event: 'In Four Years, You Don't Have To Vote Again'

<a href="https://www.benzinga.com/personal-finance/24/07/39892524/caller-on-podcast-asks-about-high-yield-account-that-will-be-returned-at-maturity-suze-orman-say">Suze Orman</a>, renowned for giving financial advice on her "Women &amp; Money" podcast, recently advised a woman looking to open brokerage accounts for her four grandchildren, aged 7, 5, 2, and two months. Now retired with her husband, Cheryl wants to help her grandchildren secure their financial futures instead of "wasting money on junk." Orman, however, expressed that a brokerage account was the wrong way to go and offered an alternative suggestion.&nbsp;
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First, Orman explained how <a href="https://www.benzinga.com/money/utma-vs-ugma">Uniform Gifts to Minors Act (UGMA)</a> brokerage accounts work. "If you open up a Uniform Gifts to Minors Act account or Uniform Trust to Minors Act (UTMA) account, that&#8217;s money that is theirs," Orman stated. "And once they turn of age, they can do anything they want with this money."
According to Fidelity, the custodian of a UGMA or UTMA account must transfer the account to the child it was set up for at a young age – usually between 18 and 25. At that point, that child can use the money for any purpose.&nbsp;
Orman also highlighted that these accounts can negatively impact financial aid eligibility, complicating future educational opportunities for the children should they seek higher education.&nbsp;
See Also: How much money will a $200,000 annuity pay out each month?<a href="https://www.benzinga.com/money/200k-annuities-adv"> The numbers may shock you.</a>
Instead of UGMA or UTMA accounts, Orman recommended an approach where Cheryl would have more control over the money. "I would open up a side account and keep it in your name, knowing that money is for those kids. I would then create a trust where there are instructions on when those kids can get the money."
Orman's reasoning behind this, beyond financial aid impacts, is that you don't know what those children are going to do with the money when they get older, stating that they could develop a drug problem or make a large purchase they shouldn't make. If Cheryl wishes to provide a secure financial future for her grandchildren, Orman says that she should have more control over that money to ensure it goes toward her intended purpose.&nbsp;
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Some people may want to save for their children&#8217;s or grandchildren's education, so Orman suggests setting up a <a href="https://www.benzinga.com/money/best-529-plans">529 account</a>. Unlike a UGMA, the original owner of a 529 account maintains ownership until the money is withdrawn, which can help ensure it goes toward its intended use.&nbsp;
While Orman suggests that a trust or 529 account is a better option for those wanting to maintain control of the money, setting up a UGMA account for your child or grandchild isn't bad. It can be a wonderful gift to help them get the financial start they need in young adulthood. It can even help them learn the importance of investing and financial responsibility from a young age.
If you're ready to take that step and start setting aside money for your children or grandchildren, consider talking to a <a href="https://www.benzinga.com/money/best-online-financial-advisors">financial advisor</a> or tax consultant. They can answer your questions and help determine the best route based on your unique situation.&nbsp;
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Personal Finance

Suze Orman Advises Against Opening Brokerage Accounts for Kids or Grandkids. Here's What She Suggests Instead

The future of Elon Musk&#8216;s business endeavors, including Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), SpaceX, and X (formerly Twitter), could rest on the <a href="https://www.benzinga.com/news/24/07/39900117/elon-musk-denies-45m-monthly-donation-to-trump-clarifies-true-purpose-of-the-america-pac-in-intervie">outcome of the 2024 presidential election.</a> 
What Happened: A Business Insider report <a href="https://www.businessinsider.com/elon-musk-benefit-trump-presidency-regulatory-changes-tesla-spacex-x-2024-7">suggests</a> that a potential Donald Trump presidency could bring regulatory changes that would benefit Musk&#8217;s companies.
Musk has shown support for the former president&#8217;s 2024 campaign, adding recently that he established a political action committee endorsing &#8220;a meritocracy &amp; individual freedom,&#8221; values he now associates with the Republican party, reports the outlet.
&#8220;You can think of Musk&#8217;s contribution as an investment to eliminate any governmental interference with his businesses,&#8221; Michael Gerhardt, an administrative law expert at the University of North Carolina, told Business Insider.
Trump&#8217;s proposed plans to lower corporate and personal taxes, along with his control over federal regulations, could be beneficial for Musk. 
As president, Trump could sign executive orders and make hiring decisions that could alter the course of federal agencies, possibly putting an end to ongoing investigations and lawsuits against Musk&#8217;s companies.
Also Read: <a href="https://www.benzinga.com/news/24/07/39872015/teslas-elon-musk-recently-pledged-a-huge-donation-to-donald-trump-and-the-ex-president-returned-the">Tesla&#8217;s Elon Musk Recently Pledged A Huge Donation To Donald Trump, And The Ex-President Returned The Favor By Criticizing EVs At The RNC</a>
However, certain agencies like the Securities and Exchange Commission, which has conducted several investigations into Musk&#8217;s companies, have statutory independence from the executive branch.
But, if Trump becomes president and Republicans control Congress, they could pass laws granting the president more authority over these agencies.
&#8220;If Trump were in the White House, he would control the EPA, the head of the EPA, and they could also amend those regulations to make the permitting for Clean Water Act requirements easier,&#8221; Jillian Blanchard, an environmental lawyer at Lawyers for Good Government, said. &#8220;Same is true for the Endangered Species Act right now.&#8221;
Why It Matters:&nbsp;Regulatory changes under a potential Trump presidency could significantly ease the pressure on Musk&#8217;s companies. 
The proposed reduction in corporate and personal taxes could boost the financial performance of these businesses. 
Furthermore, the potential for executive orders and hiring decisions that could&nbsp;change the direction of federal agencies could end ongoing investigations and lawsuits, providing a more conducive environment for Musk&#8217;s companies to thrive.
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This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

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