Option chain shows key data for XChange Tec's stock options at various strike prices and expiration dates. Traders use this information to analyze potential trades and assess market sentiment for XChange Tec.

XChange Tec (NASDAQ:XHG) Stock, Option Chain

XChange Tec

XChange Tec Inc, through its subsidiaries operates in insurance agency and insurance technology business. Its insurance products include industry and/or state-owned property and casualty insurance and regional property and casualty insurance. The insurance technology business is focused on operating and developing insurance technology in the PRC, including developing SaaS platform to connect consumers and underwriting support.

Intel, Cleanspark, Super Micro Computer, Upstart, Tesla: Why These 5 Stocks Are On Investors' Radars Today

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CURE PHARMA HLDG CORP by CURE Pharmaceutical Holding Corp.

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Dow Falls Over 100 Points; US Inflation Rate Slows To 2.4% In September

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XChange TEC.INC - American Depositary Shares

XChange Tec Inc

Cathie Wood, the founder of Ark Investment Management LLC, predicts a surge in mergers and acquisitions after President-elect Donald Trump defeats Vice President Kamala Harris in the 2024 election.
What Happened: &#8220;M&amp;A has been prevented by the FTC. That is going to change,&#8221; Wood, popularly known for leading ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) <a href="https://www.youtube.com/watch?v=zd-ZoXq5R3w">said</a> in an interview with Bloomberg Television on Thursday.
The seasoned investor continues to maintain her optimistic view on cryptocurrencies, projecting that Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) may hit $1.5 million by 2030. Wood highlighted how Bitcoin is becoming &#8220;more scarce than gold,&#8221; pointing out that after the April halving, its annual supply increase has decreased to 0.9%. 
According to Wood, production rises in tandem with the price of gold. Bitcoin prevents that from occurring.
Her remarks come as Bitcoin has gained 120% this year and is now trading above $100,000. Wood highlights Bitcoin&#8217;s fixed supply cap of 21 million coins and credits the surge to increased institutional interest and regulatory certainty.
See Also: <a href="https://www.benzinga.com/news/24/12/42608814/elon-musks-doge-role-in-government-set-for-fascinating-tough-fight-says-analyst-walter-isaacson-sees-challenges-for-tesla-ceos-federal-path">Elon Musk&#8217;s DOGE Role In Government Set For &#8216;Fascinating Tough Fight,&#8217; Says Analyst — Walter Isaacson Sees Challenges For Tesla CEO&#8217;s Federal Path</a>
The emergence of Bitcoin ETFs has significantly increased retail investor interest, with prominent offerings such as iShares Bitcoin Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>), Grayscale Bitcoin Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#NYSE">GBTC</a>), Fidelity Wise Origin Bitcoin Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FBTC#BATS">FBTC</a>), ARK 21Shares Bitcoin ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKB#BATS">ARKB</a>), Bitwise Bitcoin ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BITB#NYSE">BITB</a>), Grayscale Bitcoin Mini Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTC#NYSE">BTC</a>), ProShares Bitcoin ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BITO#NYSE">BITO</a>), and Volatility Shares Trust 2x Bitcoin Strategy ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BITX#BATS">BITX</a>), providing various options for investors seeking exposure to the cryptocurrency market.
Why It Matters: The Ark Innovation ETF manager, known for her <a href="https://www.benzinga.com/24/12/42608224/cathie-woods-thursday-moves-dumps-buzzing-stocks-tesla-and-palantir">high-conviction bets on disruptive technology</a>, has recently adjusted her fund&#8217;s positions. ARKK sold 14,016 shares of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) at $436.17 and 33,402 shares of Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) at $74.21 on Thursday.
Wood also expressed optimism about broader market participation under Trump&#8217;s presidency. &#8220;The market&#8217;s going to broaden out right now and reward companies who are at the leading edge of innovation,&#8221; she said during a previous CNN appearance, though <a href="https://www.benzinga.com/markets/equities/24/12/42262916/ark-invests-cathie-wood-says-stock-market-will-broaden-out-under-trump-but-growth-wont-be-linear-nothing-goes-up-in-a-straight-line">cautioning that growth wouldn&#8217;t be linear</a>.
Her outlook aligns with Bank of America analysts&#8217; predictions of increased M&amp;A activity, particularly in banking and biotech sectors, under a Republican administration. Analysts note that financial sector deals historically <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41979935/golden-years-for-ma-deals-ahead-under-trump-analysts-highlight-top-10-large-cap-candidates">increased by 50% during Republican presidencies</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/12/42608297/tom-lee-explains-why-fewer-cuts-in-2025-could-boost-the-market-urges-investors-to-buy-the-dip-amid-recent-volatility">Tom Lee Explains Why &#8216;Fewer Cuts In 2025&#8217; Could Boost The Market, Urges Investors To &#8216;Buy The Dip&#8217; Amid Recent Volatility</a></li>
</ul>
Image via Ark Invest

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

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$BTC

ARK 21Shares Bitcoin ETF ARK 21Shares Bitcoin ETF

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Bitwise Bitcoin ETF Common Shares of Beneficial Interest

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Fidelity Wise Origin Bitcoin Fund Fidelity Wise Origin Bitcoin Fund

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Cathie Wood Says Bitcoin Is 'More Scarce Than Gold' — Predicts M&A Surge Under Trump 2.0

In 2020, CORXEL (formerly Ji Xing) acquired the rights to develop and commercialize aficamten in Greater China (including the Chinese mainland, Hong Kong SAR and Macau SAR, and Taiwan) from Cytokinetics in accordance with Cytokinetics' global registration programs. Aficamten received Breakthrough Therapy Designation for the treatment of symptomatic obstructive hypertrophic cardiomyopathy (oHCM) from The Center for Drug Evaluation of the China National Medical Products Administration which recently accepted the New Drug Application for aficamten tablets for&nbsp;the treatment of oHCM for Priority Review.
Sanofi will now acquire CORXEL's rights relating to aficamten in Greater China for an undisclosed amount. Cytokinetics&nbsp;remains eligible to receive up to $150 million in development and commercial milestone payments from Sanofi as well as royalties in the low-to-high teens on future sales of aficamten in Greater China. Cytokinetics is now also eligible to receive additional undisclosed payments in connection with the execution of the agreement between Sanofi and CORXEL.

CYTK

Cytokinetics Announces Sanofi's Acquisition Of Aficamten Rights For HCM Treatment In Greater China

Macro Economic Events

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Reported Earlier, People's Bank of China Loan Prime Rate Unchanged At 3.10%

Reported Earlier, China Loan Prime Rate 5Y For December Unchanged At 3.60%

BBJP

WisdomTree Trust Japan Total Dividend Fund

Reported Earlier, Japan National Consumer Price Index (MoM) For November 0.6% Vs. 0.4% Prior

Reported Earlier, Japan National Core Consumer Price Index (YoY) For November 2.7% Vs. 2.6% Est.; 2.3% Prior

Marques Brownlee, popularly known as MKBHD, highlights how Google&#8217;s Veo 2 AI video generator, owned by Alphabet Inc. (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>), outshines OpenAI&#8217;s Sora model.
What Happened: On Thursday, Brownlee shared a YouTube Short of his observations pointing out that while Sora often displayed its AI nature through inaccuracies in movement and physics, Veo 2 delivered more realistic results.
However, he acknowledged that Veo 2 still has flaws, such as issues with complex scenes and garbled text.
One of the standout points in Brownlee's comparison was his emphasis on YouTube data—something that sets Veo 2 apart from other models, including OpenAI's Sora.
See Also: <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>
He suggested that the difference between the two is like "using a little bit of YouTube data" versus "owning YouTube and just using all of it."
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<iframe loading="lazy" title="SORA vs VEO 2 - AI Generated Videos" width="500" height="281" src="https://www.youtube.com/embed/74J0uiZk29k?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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In March this year, former OpenAI CTO Mira Murati&#8217;s <a href="https://www.benzinga.com/news/24/03/37704187/is-openais-viral-ai-video-generator-sora-trained-on-youtube-and-instagram-cto-mira-murati-is-not-sur">uncertainty about whether</a> YouTube videos were used to train Sora created controversy. The following month, YouTube CEO Neal Mohan said that using YouTube videos in such manner would violate their policy.
When asked if Google is using YouTube to train Gemini, Mohan said, &#8220;Google uses YouTube content really in accordance. Again, back with those terms of service or individual contracts that we might have with creators or uploaders to our platform.&#8221;
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: Earlier this week, Elon Musk, who co-founded OpenAI in 2015 and left the AI startup in 2018 over some differences, <a href="https://www.benzinga.com/tech/24/12/42525899/elon-musk-reacts-after-sundar-pichai-shares-veo-2-as-google-looks-to-challenge-openais-sora-in-ai-video-race-looks-impressive">expressed admiration</a> for Google&#8217;s Veo 2.
On the flip side, Marc Andreessen has praised OpenAI&#8217;s Sora model, suggesting it may have <a href="https://www.benzinga.com/tech/24/12/42501018/marc-andreessen-praises-openais-sora-video-model-we-may-have-basically-just-solved-the-fundamental-challenge-of-robotics">solved a significant challenge</a> in robotics.
Earlier this year, Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) also introduced its <a href="https://www.benzinga.com/top-stories/24/09/40945913/as-the-ai-arms-race-wages-on-amazon-takes-shot-at-rival-adobe-with-new-text-to-video-product">AI-powered video tool</a> for advertisers, joining Adobe&#8217;s Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) Firefly Video Model <a href="https://www.benzinga.com/tech/24/12/42525899/elon-musk-reacts-after-sundar-pichai-shares-veo-2-as-google-looks-to-challenge-openais-sora-in-ai-video-race-looks-impressive">in the competitive market</a>.
In October 2024, Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) unveiled Movie Gen, a new tool that generates videos, images, and audio <a href="https://www.benzinga.com/24/12/42608267/meta-flexes-movie-gen-ai-as-instagram-boss-teases-video-editing-magic-for-2025">based on text prompts</a>.
Photo via Wikimedia courtesy of Ramsey Cardy/Collision via Sportsfile
Check out more of Benzinga&#8217;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/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></li>
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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.

Tech

ADBE

AMZN

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Marques Brownlee Breaks Down How Google's AI Video Generator Veo2 Outpaces OpenAI's Sora

El Salvador made full use of the market drop Thursday by buying as many as 11 Bitcoins (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), worth over a million dollars, for its reserve.
What happened: According to the National Bitcoin Office, an agency tasked by President Nayib Bukele to oversee all things related to the leading cryptocurrency, the Central American nation upped its daily purchase tally to 11, 10 more than the one Bitcoin per day policy.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f1f8;&#x1f1fb;We just transferred over a million dollars worth of Bitcoin to our Strategic Bitcoin Reserve. <a href="https://t.co/4ZrxGw9Od0">pic.twitter.com/4ZrxGw9Od0</a>
&mdash; The Bitcoin Office (@bitcoinofficesv) <a href="https://twitter.com/bitcoinofficesv/status/1869899405391999015?ref_src=twsrc%5Etfw">December 20, 2024</a></blockquote>
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With the latest grab, the country's Bitcoin <a href="https://bitcoin.gob.sv/">stockpile </a>grew to 5,980.77, worth $581 million at current prices, with an unrealized profit of over $307 million.
The aggressive dip-buying followed <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42608314/bitcoin-ethereum-dogecoin-retreat-further-as-crypto-liquidations-top-1-billion-analyst-lays-out-scenario-for-btc-losing-96k-support">a sharp downturn in the market</a>, which saw the apex cryptocurrency fall below $96,000.
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: The purchases come a day after El Salvador signed a $1.4 billion loan arrangement with the International Monetary Fund, which included a condition that the country scale back its Bitcoin push.
However, Stacy Herbert, Director of the National Bitcoin Office, stated that El Salvador will continue to buy Bitcoin at an "accelerated pace" and that Bitcoin-friendly policies will continue to be implemented.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f1f8;&#x1f1fb;EL SALVADOR SECURES $3.5 FUNDING DEAL &#x27a1;&#xFE0F;Bitcoin remains legal tender &#x27a1;&#xFE0F;El Salvador will continue buying bitcoin (at possibly an accelerated pace) for its Strategic Bitcoin Reserve &#x27a1;&#xFE0F;Bitcoin capital markets will continue to be built; for example, the recent tokenized issuance…
&mdash; Stacy Herbert &#x1f1f8;&#x1f1fb;&#x1f680; (@stacyherbert) <a href="https://twitter.com/stacyherbert/status/1869752262186217868?ref_src=twsrc%5Etfw">December 19, 2024</a></blockquote>
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El Salvador became the first country to adopt the leading digital asset as its legal tender in 2021. Despite these efforts, <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41608795/remember-the-passports-for-bitcoin-initiative-in-el-salvador-its-not-going-so-well">Bitcoin adoption</a> among Salvadorans remains low, with the majority still relying on the U.S. dollar as the country&#8217;s primary currency.
Price Action: At the time of writing, Bitcoin was exchanging hands at $97,618.09, down 3.33% 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;
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El Salvador Buys Bitcoin Dip, Scoops $1 Million Worth Of BTC A Day After IMF Urges Scaling Back

President-elect Donald Trump has transferred his entire stake in Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) to his revocable trust, according to Securities and Exchange Commission filings released on Thursday.
What Happened: The transfer of 114,750,000 shares, representing approximately 53% ownership of the company, was completed Tuesday with Trump listed as the sole beneficiary. The shares were gifted to the Donald J. Trump Revocable Trust without monetary compensation, the filing shows.
The move comes just days after Trump <a href="https://www.benzinga.com/general/social-media/24/12/42454492/djt-stock-in-focus-as-trump-set-to-ring-nyse-bell-today-heres-why-president-elect-once-threatened-to-shift-trump-media-from-nasdaq">rang the opening bell at the New York Stock Exchange</a>, where DJT stock has surged over 100% year-to-date. The company&#8217;s shares closed at $35.41 on Tuesday, valuing Trump&#8217;s transferred stake at approximately $4 billion.
The transfer follows Trump&#8217;s September pledge not to sell his shares in the Truth Social parent company. During that time, he had publicly criticized Nasdaq over routine trading halts, threatening to move the listing to the NYSE.
See Also: <a href="https://www.benzinga.com/markets/equities/24/12/42608297/tom-lee-explains-why-fewer-cuts-in-2025-could-boost-the-market-urges-investors-to-buy-the-dip-amid-recent-volatility">Tom Lee Explains Why &#8216;Fewer Cuts In 2025&#8217; Could Boost The Market, Urges Investors To &#8216;Buy The Dip&#8217; Amid Recent Volatility</a>
Why It Matters: DJT stock has shown significant volatility this year, trading between $11.75 and $79.38. The company has drawn increased attention as Trump prepares to return to the presidency while facing multiple legal challenges, including discussions around presidential <a href="https://www.benzinga.com/news/legal/24/12/42405278/trump-plays-presidential-immunity-card-in-truth-social-lawsuit-battle">immunity related to Trump Media</a>.
The filing notes that while the shares are now held by the trust, Trump maintains indirect ownership as the trust&#8217;s beneficiary. 
The move represents one of Trump&#8217;s largest financial maneuvers ahead of his <a href="https://www.benzinga.com/news/21/01/19072354/trump-acknowledges-a-new-administration-takes-over-on-jan-20-calls-for-calm-to-be-restored">scheduled Jan. 20 inauguration</a> for a second non-consecutive term as president.
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</ul>
Image via Flickr
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Trump Transfers Entire DJT Stake To Revocable Trust Ahead Of Inauguration

Management

Donald Trump Jr. Transferred 114.75M Shares Of Trump Media & Technology Group To Revocable Trust, Including 553,176 Shares Held In Escrow Until March 2025; No Shares Were Sold During Transfer

Donald J. Trump Gifted 114.75M Shares Of Trump Media & Technology Group To Trump Revocable Trust; No Shares Were Sold During Transfer

Samsung Electronics Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) Galaxy S22 users face severe issues following the One UI 6.1.1 update.
What Happened: Released in September 2024, the update has caused devices to become permanently bricked, with some users also experiencing random reboots and overheating problems.
Affected users have been advised by Samsung&#8217;s customer support to replace the phone&#8217;s motherboard, which is costly as the devices are out of warranty.
The issue seems to primarily affect Exynos 2200-powered Galaxy S22 units in Europe and parts of Asia.
See Also: <a href="https://www.benzinga.com/tech/24/12/42525551/ahead-of-trumps-return-to-white-house-us-approves-406m-grant-for-taiwans-chipmaker-globalwafers?itm_source=parsely-api">Ahead Of Trump&#8217;s Return To White House, US Approves $406M Grant For Taiwan&#8217;s Chipmaker GlobalWafers</a>
&#8220;I've tried everything Samsung suggested: clearing the cache, factory resets—you name it. Nothing worked,&#8221; one user complained on Samsung's official online forum.
Adding, &#8220;I even had a Samsung repair tech come to my house. They suggested my motherboard needs to be replaced but refused to fix it under warranty because of a small, superficial crack on my screen (which can barely even be picked up by a camera).&#8221;
Samsung did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga's</a> request for comments.
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: The South Korean smartphone maker reported a <a href="https://www.benzinga.com/markets/asia/24/10/41645191/samsung-profits-soar-but-companys-nvidia-ai-chip-race-lag-allows-sk-hynix-micron-to-take-the-lead-in">net income of 9.78 trillion won</a> ($7.1 billion) for the quarter ending in September.
Earlier this year, Samsung also announced plans to <a href="https://www.benzinga.com/news/24/09/40812318/samsung-to-reportedly-slash-global-workforce-by-up-to-30-in-certain-divisions-amid-intense-competiti">reduce its global workforce</a> by up to 30% in certain divisions, amid fierce competition from Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Huawei Technologies.
According to Statista, Samsung Electronics&#8217; Mobile Experience (MX) division brought in approximately $21.6 billion as of the third quarter of 2024, making it the top revenue driver.
The tech giant is currently preparing for the launch of its Galaxy S25 series, featuring a <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">sleek design and running</a> on One UI 7.
Image Courtesy &#8211; Samsung
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/news/global/24/12/42499566/google-willow-nvidias-china-troubles-trump-on-ai-and-more-this-week-in-artificial-intelligence?itm_source=parsely-api">Google Willow, Nvidia's China Troubles, Trump On AI, And More: This Week In Artificial Intelligence</a></li>
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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

SSNLF

Samsung One UI 6.1.1 Update Is Turning This Galaxy Series Phones Into Paperweights: Bricking, Random Reboots And Overheating Reported

Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) entered into a partnership with the decentralized oracle network Chainlink (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/link/usd">LINK</a>) Thursday in a bid to expand its ecosystem.
What Happened: The partnership would see the integration of Chainlink&#8217;s&nbsp;standard for blockchain interoperability as&nbsp;the primary cross-chain infrastructure for Shibarium, Shiba Inu&#8217;s Layer-2 blockchain. 
Additionally, the Cross-Chain Token standard would make Shiba Inu ecosystem tokens like SHIB, Doge Killer (LEASH), and Bone ShibaSwap (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BONE</a>) available across 12 different blockchains.
Shiba Inu&#8217;s mysterious lead, Shytoshi Kusama, deemed the development &#8220;huge news&#8221; for the ecosystem. 
&#8220;Expect much more from this partnershib,&#8221; Kusama said, in typical Shiba Inu lingo.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This is HUGE news for the <a href="https://twitter.com/hashtag/SHIBARMY?src=hash&amp;ref_src=twsrc%5Etfw">#SHIBARMY</a> and <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a>, <a href="https://twitter.com/search?q=%24BONE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BONE</a>, AND <a href="https://twitter.com/search?q=%24LEASH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LEASH</a>. Expect much more from this partnershib! <a href="https://t.co/99nRkzdA01">https://t.co/99nRkzdA01</a>
&mdash; Shytoshi Kusama&#x2122; (@ShytoshiKusama) <a href="https://twitter.com/ShytoshiKusama/status/1869832150545297508?ref_src=twsrc%5Etfw">December 19, 2024</a></blockquote>
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For the curious, Chainlink acts as a bridge between the blockchain and the outside world, enabling smart contracts to access data and events from off-chain sources. Based on Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), the platform&#8217;s flagship Cross-Chain Interoperability Protocol allows developers to build applications that can send tokens and messages across the blockchain.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42604209/from-bitcoin-to-multi-coin-the-formula-for-choosing-a-winning-digital-asset-index-for-inve">From Bitcoin to Multi-Coin: The Formula for Choosing a Winning Digital Asset Index for Investors</a>
Why It Matters: The inclusion of Chainlink&#8217;s standard could increase the accessibility of Shiba Inu assets, potentially leading to increased demand. The integration could also unlock more industry-specific use cases for Shibarium, a growing Layer-2 solution.
Earlier this week, Shiba Inu announced the airdrop of its newly launched meme coin&nbsp;Shifu&nbsp;(SHIFU) for its loyal community members. A significant proportion of the supply has been set aside for holders of SHIB, BONE, and LEASH. 
Price Action: The associated tokens failed to respond positively. SHIB was down 8.36% in the last 24 hours, while LINK was down 6.40%, 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;
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</ul>

$BONE

$ETH

$LINK

$SHIB

Shytoshi Kusama Shares 'Huge News' As Shiba Inu Partners With Chainlink To Boost Shibarium, Ecosystem Tokens

New Street Research analyst Pierre Ferragu has expressed support for Tesla Inc. CEO Elon Musk&#8216;s upcoming role in the newly announced Department of Government Efficiency while acknowledging the challenges ahead in reforming federal operations.
What Happened: &#8220;Will be fascinating to see DOGE at work: Elon&#8217;s method in a government environment,&#8221; Ferragu wrote on X on Thursday, noting the potential resistance from &#8220;lawmakers &amp; civil servants defending their personal interest.&#8221;
The Tesla CEO&#8217;s approach to government reform has drawn attention from notable figures including Walter Isaacson, an American journalist known for his acclaimed biographies of influential figures including Henry Kissinger, Benjamin Franklin, Albert Einstein, Steve Jobs, Jennifer Doudna, and most recently, Musk himself. 
Isaacson recently appeared on CNBC&#8217;s &#8216;Squawk Box&#8217; to discuss Musk&#8217;s new challenge in leading the DOGE and his relationship with Trump.
Isaacson stated that Musk&#8217;s handling of DOGE will be distinct from his previous approach with Twitter, now X, where he reduced the workforce by 80% to increase efficiency. Unlike his private ventures, DOGE will be a federal agency, meaning Musk won't be directly paying employees. 
Isaacson also pointed out that Musk holds significant influence in the defense sector and noted that Trump&#8217;s support will play a key role in shaping Congress&#8217;s response.
The comments follow President-elect Donald Trump&#8216;s November announcement appointing Musk and former presidential candidate Vivek Ramaswamy to lead DOGE, a new initiative aimed at restructuring federal agencies and reducing the government&#8217;s $6.5 trillion annual spending. The department is scheduled to <a href="https://www.benzinga.com/news/global/24/11/41927289/trump-appoints-elon-musk-and-vivek-ramaswamy-to-lead-doge-targeting-bureaucracy-and-65-trillion-federal-spending-we-will-not-go-gently">complete its work by Jul. 4, 2026</a>.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Will be fascinating to see DOGE at work: Elon's method in a government environment, with much more random individual agency (lawmakers &amp; civil servants giving the middle finger defending their personal interest) I'd root for DOGE and see them successful. It is going to be a… <a href="https://t.co/IroQKvB9Mh">https://t.co/IroQKvB9Mh</a>
&mdash; Pierre Ferragu (@p_ferragu) <a href="https://twitter.com/p_ferragu/status/1869833273469481214?ref_src=twsrc%5Etfw">December 19, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/equities/24/12/42608297/tom-lee-explains-why-fewer-cuts-in-2025-could-boost-the-market-urges-investors-to-buy-the-dip-amid-recent-volatility">Tom Lee Explains Why &#8216;Fewer Cuts In 2025&#8217; Could Boost The Market, Urges Investors To &#8216;Buy The Dip&#8217; Amid Recent Volatility</a>
Why It Matters: Musk, who has been vocal about reducing government expenditures, called the initiative one that would &#8220;send shockwaves through the system.&#8221; 
His appointment comes as he continues to challenge <a href="https://www.benzinga.com/markets/equities/24/11/42206297/amid-elon-musks-push-for-drones-and-ai-for-combat-transformation-analyst-pierre-ferragu-says-shift-the-defense-budget-in-favor-of-startups">traditional government spending approaches</a>, recently criticizing military programs like Lockheed Martin Corp.&#8216;s F-35 program, estimated to cost $1.8 trillion.
Financial experts have weighed in on the potential impact. InCred Global Wealth U.K. analyst Mario Georgiou suggests the initiative could yield annual savings between $50-100 billion, though this represents a small portion of the <a href="https://www.benzinga.com/24/11/42131911/donald-trump-appointed-doge-to-have-marginal-impact-saving-50-100-billion-says-analyst-as-elon-musk-aims-to-target-500-billion-plus-in-federal-expenditures">projected $6.7 trillion federal budget</a>.
The department&#8217;s mandate includes restructuring federal agencies, reducing regulations, and implementing accountability measures. While expressing optimism about DOGE&#8217;s potential success, Ferragu noted it would be &#8220;a fascinating tough fight,&#8221; highlighting the complexity of bringing private sector efficiency to government operations.
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Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Government

Elon Musk's DOGE Role In Government Set For 'Fascinating Tough Fight,' Says Analyst — Walter Isaacson Sees Challenges For Tesla CEO's Federal Path

Social media platform, Bluesky is set to create its own payment system, a process that could take at least 12 months. The company is also planning to introduce subscriptions early next year.
What Happened: In an interview with Buffer on Thursday, COO Rose Wang said that Bluesky aims to align its financial incentives with those of its users, creators, and developers.
She said, &#8220;As they're making more money, we should be making money, but if they're not making money, we shouldn't be making money.&#8221;
Wang explained that the goal is to facilitate payments within the app and across other platforms, increasing transaction volumes. Creators will retain most of the earnings, while Bluesky will take a percentage of the transaction fees.
See Also: <a href="https://www.benzinga.com/24/12/42568430/senate-minority-leader-mcconnell-urges-supreme-court-to-reject-tiktoks-delay-request-pushing-for-january-ban-amid-first-amendment-debate?itm_source=parsely-api">Mitch McConnell Urges Supreme Court To Reject TikTok&#8217;s Delay Request, Says Platform Hoping For Less Hostile DOJ In Trump Administration</a>
&#8220;Coming is like 12 months. Payment systems take a while, but absolutely it&#8217;s things that we are prioritizing,&#8221; she stated.
Wang also spoke about the upcoming subscription model will offer users improved self-expression tools, such as custom icons and domains. However, core app features will remain accessible without a paywall.
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Why It Matters: Several other social media platforms have also developed integrated payment systems to support transactions and enable monetization. For example:&nbsp;
Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has Meta Pay, which powers transactions across Instagram, Messenger, and Facebook.
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, provides monetization options like Super Chats, Channel Memberships, and tipping during live streams.
Elon Musk's X, formerly Twitter, is working on <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39382770/inside-elon-musks-plan-to-add-payments-to-x">expanding its payment capabilities</a> as part of its push to become a super app.
Bluesky, founded by Jack Dorsey, has been gaining traction, <a href="https://www.benzinga.com/general/social-media/24/12/42421291/alexandria-ocasio-cortez-aoc-hits-1-million-followers-with-top-bluesky-account-mark-cuban-gains-popularity-jack-dorsey-notably-absent">reaching nearly 25 million users</a> by Dec. 10, 2024. Notable figures like Alexandria Ocasio-Cortez and Mark Cuban have contributed to its popularity.
Image via Bluesky
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Social Media

Bluesky Planning Payment Platform That Could Arrive In 12 Months, Says COO Rose Wang, Aims To Align Financial Incentives With Users

Australian computer scientist Craig Wright, who has consistently claimed to be Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) creator Satoshi Nakamoto, was held in contempt of court on Thursday and handed out a one-year suspended prison sentence for continuing to sue developers.
What Happened: The case was brought by the Crypto Open Patent Alliance, a non-profit that has waged a legal battle against Wright&#8217;s claims of being the inventor of the world&#8217;s largest cryptocurrency, according to a <a href="https://www.theguardian.com/technology/2024/dec/19/craig-wright-man-who-falsely-claimed-to-be-bitcoin-creator-sentenced-for-continuing-to-sue-developers">report </a>by The Guardian.
Earlier in May, Judge James Mellor ruled that Wright had lied &#8220;extensively and repeatedly&#8221;&nbsp;and forged documents to support&nbsp;his false claim and asked him to publicly deny being Satoshi and his copyright ownership of the Bitcoin whitepaper.
The Crypto Open Patent Alliance stated that Wright ignored this injunction and sued developers by bringing cases against cryptocurrency developers totaling more than £900 billion ($1.12 trillion) in October.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42601193/senator-lummis-introduces-strategic-bitcoin-reserve-proposal">Senator Lummis Introduces Strategic Bitcoin Reserve Proposal</a>
Judge James Mellor ruled on Thursday that Wright was in contempt of court, sentencing him to 12 months in jail suspended for two years.
Why It Matters: Wright has been a <a href="https://www.benzinga.com/markets/cryptocurrency/22/12/30182902/craig-wright-drops-controversial-quest-to-prove-hes-bitcoin-creator-only-validation-i-seek">contentious figure in the Bitcoin community</a> since he posted a blog in 2016 claiming, with questionable evidence, to be the apex cryptocurrency&#8217;s inventor.
Since then, he has gone to court in defense of his claim,&nbsp;filing lawsuits that allege&nbsp;libel for calling him a fraud or copyright infringement. In February,&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/02/36949178/is-craig-wright-actually-satoshi-nakamoto-bitcoins-alleged-creators-assertion-deemed-a-bra" target="_blank" rel="noreferrer noopener">Wright's assertion was deemed a ‘brazen lie'</a>&nbsp;in a U.K. High Court, and he was <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39808275/craig-wright-adds-disclaimer-to-website-admitting-hes-not-bitcoin-founder-satoshi-nakamoto">directed</a> to issue a legal disclaimer on his website homepage, X feed, and all Slack channels&nbsp;that he isn&#8217;t Satoshi. 
The real identity of Satoshi Nakamoto remains a subject of controversy and intrigue, with a <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41242615/peter-todd-is-satoshi-nakamoto-bitcoin-core-developer-denies-hbo-documentary-claims-im-not">recent HBO documentar</a>y identifying Bitcoin core engineer Peter Todd as the pseudonymous founder.
Photo Courtesy: Dan Henson On Shutterstock.com
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</ul>

Self-Proclaimed Bitcoin Inventor Craig Wright Awarded Prison Sentence For Defying Court Order

China kept its benchmark lending rates unchanged on Friday, with the one-year loan prime rate held at 3.1% and the five-year LPR at 3.6%. 
The People's Bank of China's decision comes as it works to stimulate economic growth and support the weakening yuan. The one-year LPR affects corporate and household loans, while the five-year LPR is used for mortgage rates. 
This move follows a <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42570219/whartons-jeremy-siegel-calls-stock-sell-off-a-healthy-reality-check-market-was-overly-optimistic">25-basis-point rate cut</a> by the U.S. Federal Reserve on Wednesday. The Fed also indicated that it will implement only two interest rate cuts in 2025, fewer than the four previously projected in September.
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Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Asia

China Keeps Benchmark Lending Rates Steady As Fed Signals Fewer Cuts Ahead

Major U.S. indices closed Thursday with mixed results. The Dow Jones Industrial Average edged up by 0.04%, while the S&amp;P 500 slipped 0.09%, and the tech-focused NASDAQ dropped 0.1%.
These are the top stocks that gained the attention of retail traders and investors throughout the day.
Nike Inc.
Nike&#8217;s stock edged up by 0.26%, closing at $77.10. The stock reached an intraday high of $77.94 and a low of $76.43, with a 52-week range between $123.39 and $70.75. Nike reported its <a href="https://www.benzinga.com/general/sports/24/12/42605414/nike-q2-earnings-revenue-beat-eps-beat-shares-jump-nike-being-nike-again">second-quarter earnings</a>, revealing revenue of $12.35 billion, surpassing analyst expectations of $12.13 billion. Earnings per share were 78 cents, beating the 65 cents forecast by analysts. Despite a year-over-year revenue decline, the company showed resilience.
FedEx Corp.
FedEx shares rose by 1.00%, closing at $275.88. The stock&#8217;s intraday high was $278.48, with a low of $273.19, and it has traded between $313.84 and $234.45 over the past year. FedEx announced <a href="https://www.benzinga.com/news/earnings/24/12/42605034/fedex-stock-rallies-on-better-than-expected-q2-eps-freight-spin-off-announcement">better-than-expected second-quarter earnings</a> of $4.05 per share, beating the $3.91 consensus. However, revenue fell short at $22 billion, impacted by weaker FedEx Freight performance.
BlackBerry Ltd.
BlackBerry&#8217;s stock fell by 1.00%, closing at $2.98. It reached an intraday high of $3.08 and a low of $2.96, with a 52-week range of $4.27 to $2.01. The company reported third-quarter earnings, with revenue at $162 million and <a href="https://www.benzinga.com/news/earnings/24/12/42606549/blackberry-beats-q3-earnings-estimates-but-soft-guidance-keeps-shares-in-check">adjusted earnings of two cents per share</a>, exceeding expectations. Despite beating estimates, soft guidance kept the stock in check.
Rigetti Computing Inc.
Rigetti&#8217;s stock plummeted by 30.12%, closing at $7.47. The stock hit an intraday high of $10.18 and a low of $6.75, with a 52-week range from $12.75 to $0.66. The stock has seen <a href="https://www.benzinga.com/general/market-summary/24/12/42569883/quantum-computing-rigetti-d-wave-skyrocket-up-to-300-in-5-sessions-after-google-unveils-willow-chip-but-analysts-urge-caution-not-every-tiktok-guitarist-is-the-next-taylor-swift">significant volatility</a>, with a 52.95% surge on Thursday. Analysts have urged caution despite the recent gains following Google&#8217;s unveiling of its Willow quantum chip.
Tesla Inc.
Tesla&#8217;s stock declined by 0.90%, closing at $436.17. The stock&#8217;s intraday high was $456.36, with a low of $420.02, and it has ranged between $488.54 and $138.80 over the past year. Tesla&#8217;s European registrations <a href="https://www.benzinga.com/24/12/42571913/tesla-registrations-drop-by-nearly-41-in-november-in-eu-dragging-down-optimism-for-over-500000-ev-deliveries-in-q4">dropped by 41% in November</a>, raising concerns about its ability to meet its global EV delivery targets.
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>

RGTI

Nike, Fedex, Blackberry, Rigetti, And Tesla: Why These 5 Stocks Are On Investors' Radars Today

The cryptocurrency market cracked further Thursday as risk sentiment remained low following the Federal Reserve&#8217;s hawkish statements.
<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>-3.30%</td>
<td>$97,251.29</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>-6.08%</td>
<td>$3,425.34</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>-12.28%</td>
<td>$0.3159</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin rallied to $102,000 in the early hours but gave up gains as the day progressed, dipping below $96,000 for the first time in over a month.
Similarly, Ethereum lifted above $3,700 only to crash below $3,400 by late afternoon. The world's second-largest cryptocurrency was down over 11% over the week.
Over $1 billion was liquidated from the cryptocurrency market in the last 24 hours, with long liquidations accounting for $860 million.&nbsp;
Bitcoin's Open Interest plunged 4.24% in the last 24 hours, alongside a drop in spot price. That said, the percentage of Binance traders taking long positions for the cryptocurrency rose sharply to 61%, against 38% betting against the asset, according to the Long/Short Ratio.
The "Greed" sentiment weakened in the market, according to the Cryptocurrency Fear &amp; Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>Movement (MOVE)</td>
<td>+21.14%</td>
<td>$0.7626</td>
</tr>
<tr>
<td>Bitget Token (BGB)</td>
<td>+6.55%</td>
<td>$4.46</td>
</tr>
<tr>
<td>Mantle (MNT)</td>
<td>+6.50%</td>
<td>$1.17</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.33 trillion, following a contraction of 4.91% in the last 24 hours.
The Dow Jones Industrial Average snapped out of its 10-day losing streak Thursday but only just, gaining 0.04%, to close at 42,342.24. The S&amp;P 500 slipped 0.09% to end at 5,867.08, while the tech-heavy Nasdaq Composite dropped 0.10% to 19,372.77.
These moves come a day after the stock market got hammered <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">after the Federal Reserve signaled a hawkish outlook</a>, with fewer rate reductions in 2025 than expected.
The benchmark 10-year Treasury yields increased to 4.55%, the highest since May 30.
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 commented on Bitcoin's latest moves, stating that if the apex cryptocurrency loses $96,000 as support, it could dip further to $90,000 and $85,000.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Keeping it simple, just based on the Fib, if <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> loses $96,000, the next point of focus becomes $90,000 and $85,000. <a href="https://t.co/yJ1Hq2PNe2">pic.twitter.com/yJ1Hq2PNe2</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1869851163061039116?ref_src=twsrc%5Etfw">December 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Rekt Capital, another influential analyst, stated that if Bitcoin goes below the weekly support level of around $97,800, the 5-week uptrend will be reversed and the coin will enter a corrective phase.
"If this blue weekly support region fails and so does the 5-week uptrend (orange)&#8230; then BTC will probably transition into a correction."
<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> The Bearish Engulfing Candle persists And the Weekly level at $101.2k is struggling to hold as support If this blue Weekly support region fails and so does the 5-week uptrend (orange)&#8230; Then BTC will probably transition into a correction<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/KnIptVe958">https://t.co/KnIptVe958</a> <a href="https://t.co/7oYdQ5v2r6">pic.twitter.com/7oYdQ5v2r6</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1869808384574402864?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;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42601193/senator-lummis-introduces-strategic-bitcoin-reserve-proposal">Senator Lummis Introduces Strategic Bitcoin Reserve Proposal</a></li>
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$DOGE

Bitcoin, Ethereum, Dogecoin Retreat Further As Crypto Liquidations Top $1 Billion: Analyst Lays Out Scenario For BTC Losing $96K Support

U.S. stock markets could benefit from fewer interest rate cuts in 2025 despite recent volatility, according to Fundstrat&#8216;s head of research Tom Lee, who sees the Federal Reserve&#8217;s hawkish stance as <a href="https://www.benzinga.com/24/12/42599089/us-stocks-edge-up-micron-suffers-worst-day-since-march-2020-bond-yields-surge-whats-driving-markets-thursday">potentially beneficial for investors</a>.
What Happened: &#8220;The fewer cuts [the Fed does] in 2025, it actually is better for this bull market because it provides a lot of future ammunition to protect the economy,&#8221; Lee said on Thursday, according to Fundstrat.
The comments followed a tumultuous period in markets, 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>) struggling through its longest losing streak since 1974 and the S&amp;P 500 tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), suffering its steepest one-day <a href="https://www.benzinga.com/markets/equities/24/12/42567950/jim-cramer-warns-of-incredible-panic-as-jerome-powells-cautious-rate-cuts-send-us-stocks-into-freefall">decline since September 2022</a>.
The selloff was triggered after the Federal Reserve cut rates by 25 basis points to 4.25%-4.5% but signaled just two rate cuts for 2025, down from <a href="https://www.benzinga.com/24/12/42599089/us-stocks-edge-up-micron-suffers-worst-day-since-march-2020-bond-yields-surge-whats-driving-markets-thursday">four projected in September</a>.
The central bank&#8217;s shift rattled investors who had been counting on more aggressive rate cuts. However, recent economic data continues to show resilience, with third-quarter GDP growth revised upward to 3.1% and weekly jobless claims falling to 220,000, below expectations of 230,000.
See Also: <a href="https://www.benzinga.com/news/earnings/24/12/42606549/blackberry-beats-q3-earnings-estimates-but-soft-guidance-keeps-shares-in-check">BlackBerry Beats Q3 Earnings Estimates, But Soft Guidance Keeps Shares In Check</a>
Why It Matters: &#8220;I know yesterday&#8217;s pullback was really painful, but to us, the fundamentals supporting stocks are intact,&#8221; Lee said. He suggested that recent market declines might be driven by panicked investors selling out of momentum trades as the year ends.
The hawkish Fed outlook has particularly impacted the bond market, with 30-year Treasury yields climbing to 4.75%. Despite these headwinds, Lee maintains a bullish stance, recommending investors &#8220;buy the dip.&#8221;
Wharton Professor Emeritus Jeremy Siegel offered a similar perspective, calling the market&#8217;s reaction a &#8220;healthy&#8221; reality check after what he described as &#8220;overly optimistic&#8221; <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42570219/whartons-jeremy-siegel-calls-stock-sell-off-a-healthy-reality-check-market-was-overly-optimistic">expectations for rate cuts</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/earnings/24/12/42605034/fedex-stock-rallies-on-better-than-expected-q2-eps-freight-spin-off-announcement">FedEx Stock Rallies On Better-Than-Expected Q2 EPS, Freight Spin-Off Announcement</a></li>
</ul>
Image via Shutterstock
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

Tom Lee Explains Why 'Fewer Cuts In 2025' Could Boost The Market, Urges Investors To 'Buy The Dip' Amid Recent Volatility

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