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Chinese stocks experienced a sharp selloff on Wednesday, continuing a volatile trend across Asia-Pacific markets. The Hang Seng Index (HSI) in Hong Kong dropped 1.39% to 20,635.11, following Tuesday&#8217;s devastating 9.41% plunge—its worst single-day <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41227136/chinese-stocks-plunge-as-stimulus-hopes-fade-hong-kong-posts-worst-daily-decline-si">loss since the 2008 financial crisis</a>.
What Happened: The mainland CSI 300 index also suffered, dropping 5.39%. This sharp reversal comes after weeks of robust performance that had positioned Chinese stocks among the top global performers year-to-date.
Tech giants bore the brunt of the downturn:
<ul>
<li>JD.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) plummeted 7.52% on the Hong Kong stock exchange. </li>
<li>Alibaba (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BABAF#OTC">BABAF</a>) fell 2.78%</li>
<li>Baidu (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) lost 1.65% on HKEX</li>
<li>Tencent (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) declined 1.32%</li>
</ul>
Analysts attribute the selloff to investors locking in profits and growing disappointment over the <a href="https://www.benzinga.com/markets/asia/24/10/41223117/alibaba-tencent-jd-com-and-baidu-slide-over-8-as-chinas-28b-stimulus-boost-misses-the-mark">lack of aggressive fiscal stimulus</a> from Beijing. 
The contrast was stark in Japan, where the Nikkei 225 climbed 0.6%, highlighting the divergent market sentiments across the region.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/10/41242937/cathie-woods-ark-invest-trades-bets-14m-on-amazon-shares-dumps-robinhood-stock-worth-36m-embrace">Cathie Wood&#8217;s Ark Invest Trades: Bets $14M On Amazon Shares — Dumps Robinhood Stock Worth $36M, Embraces Coinbase And Meta</a></li>
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Image Via 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/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

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Chinese Stocks Plunge As Hang Seng Drops 1.39%, Extending Volatile Streak — Tech Giants JD.com, Alibaba, Baidu Tread Red Waters

Renowned economist Peter Schiff poked fun at Michael Saylor, recommending that the MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) boss buy the huge stash of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) that the U.S. government planned to sell. 
What Happened: On Tuesday, Schiff took to X to express his views on the U.S. government&#8217;s decision to sell 69,370 BTC it had <a href="https://www.benzinga.com/markets/cryptocurrency/22/11/29596887/us-department-of-justice-seizes-3-36b-in-bitcoin-from-silk-road-dark-web-fraud">seized from the dark web marketplace</a> Silk Road. 
Earlier in the week, the Supreme Court <a href="https://x.com/lookonchain/status/1843692654653256195">declined </a>to hear a case challenging the government&#8217;s ownership of the seized funds, clearing the door for future liquidations.
&#8220;Every once in a while, the government does something smart. I think Michael Saylor should have MicroStrategy borrow another $4.3 billion and buy it,&#8221; Schiff said, mocking the company&#8217;s Bitcoin reserve strategy. 
<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">It looks like the U.S. government is getting ready to sell 69,370 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>, worth about $4.3 billion at current market prices. Every once in a while, the government does something smart. I think <a href="https://twitter.com/saylor?ref_src=twsrc%5Etfw">@saylor</a> should have <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a> borrow another $4.3 billion and buy it. Who agrees with me?
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1843789560804978695?ref_src=twsrc%5Etfw">October 8, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41242615/peter-todd-is-satoshi-nakamoto-bitcoin-core-developer-denies-hbo-documentary-claims-im-not">Peter Todd Is Satoshi Nakamoto? Bitcoin Core Developer Denies HBO Documentary Claims: &#8216;I&#8217;m Not Satoshi&#8217;</a>
Why It Matters: Schiff&#8217;s suggestion is particularly noteworthy given his previous criticism of Saylor and his approach to Bitcoin. He has previously <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40057380/peter-schiff-hits-out-at-michael-saylor-slams-trend-of-having-bitcoin-on-balance-sheets-co">slammed the trend of companies including Bitcoin</a> on their balance sheets, arguing that it is a gamble with shareholder&#8217;s funds. 
He has also questioned the <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40003571/peter-schiff-confronts-donald-trump-and-michael-saylors-never-sell-your-bitcoin-strategy-w">&#8216;never sell your Bitcoin&#8217; strategy</a> advocated by Saylor, also backed by presidential hopeful Donald Trump on the campaign trail.
The &#8220;Bitcoin strategy playbook&#8221; has been <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40776328/microstrategys-bitcoin-strategy-has-outperformed-every-s-p-500-company-and-even-nvidia-sin">successful in turning around</a> MicroStrategy&#8217;s fortunes, with the company&#8217;s stock surging by 1208% since August 2020, while Bitcoin itself rose just by 445%.
Price Action: At the time of writing, Bitcoin was exchanging hands at $62,296.78, down 0.51% 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>. Shares of MicroStrategy bounced 3.28% during Tuesday&#8217;s regular trading hours. 
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41231841/nate-silver-donald-trumps-election-odds-pump-could-be-noise-but-republicans-project-confid">Nate Silver: Donald Trump&#8217;s Election Odds Pump Could Be Noise, But Republicans &#8216;Project Confidence&#8217; In Trump Era, Democrats &#8216;Project Anxiety&#8217;</a></li>
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

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Peter Schiff Encourages MicroStrategy Founder Micheal Saylor To 'Borrow' Another $4.3B To Buy Bitcoin That US Plans To Sell: 'Once In A While, The Government Does Something Smart'

U.S. markets closed higher on Tuesday, with the Dow Jones Industrial Average rising 0.3% to 42,090.37 and the S&amp;P 500 gaining nearly 1%, finishing at 5,751.13. The Nasdaq surged 1.45%, closing at 18,182.92.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>)
Palantir&#8217;s stock soared by 6.58%, closing at $41.45 after hitting an intraday high of $41.49. The stock&#8217;s 52-week high and low stand at $41.49 and $14.48 respectively. Palantir Technologies shares surged on Tuesday after Ark Invest highlighted software firms like Palantir as having more potential to gain from the AI boom and take market share from tech giants.
Roblox Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>)
Roblox&#8217;s shares dipped by 2.13%, closing at $40.51, with an intraday low of $37.5. The stock&#8217;s 52-week range is $48.43 to $29.55. The decline was triggered by a <a href="https://www.benzinga.com/news/24/10/41230411/short-seller-hindenburg-issues-report-on-roblox-accuses-company-of-misleading-metrics">short report from Hindenburg Research</a>, accusing the gaming platform of inflating key user metrics.
See Also: <a href="https://www.benzinga.com/markets/equities/24/10/41220350/tesla-traders-wild-bet-on-elon-musks-company-ends-in-a-306m-lawsuit-spiral?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Trader&#8217;s Wild Bet On Elon Musk&#8217;s Company Ends In A $306M Lawsuit Spiral</a>
The Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>)
Boeing&#8217;s stock fell by 0.81%, closing at $154.65, with an intraday low of $154.14. The stock&#8217;s 52-week high and low are $267.54 and $149.49 respectively. The drop follows a <a href="https://www.benzinga.com/markets/equities/24/10/41236652/boeing-hit-with-737-safety-alert-issues-deliveries-warning-as-strike-continues">safety alert issued by the FAA</a> regarding a potential rudder system jam in Boeing 737 airplanes.
Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>)
Robinhood&#8217;s shares surged by 9.82%, closing at $25.61, with an intraday high of $25.8. The stock&#8217;s 52-week high and low are $25.8 and $7.91 respectively. The surge comes amid <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41236863/robinhood-eyes-major-growth-with-new-trading-features-while-coinbase-rides-crypto-s">analyst predictions of strong third-quarter performance</a> for exchange and trading companies.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s stock rose by 1.52%, closing at $244.5, with an intraday high of $246.21. The stock&#8217;s 52-week high and low are $271 and $138.8 respectively. The rise comes ahead of Tesla&#8217;s <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/10/41238300/tesla-robotaxi-ambitions-come-as-most-americans-grow-wary-of-autonomous-tech">upcoming Robotaxi event</a>, despite a Pew Research survey indicating that 63% of American adults would not ride in a driverless vehicle.
Image via Shutterstock
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41195876/michael-saylor-once-said-bitcoins-days-are-numbered-now-he-holds-more-than-a-billion-worth?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Michael Saylor Once Said &#8216;Bitcoin&#8217;s Days Are Numbered.&#8217; Now He Holds More Than A Billion Worth Of King Crypto: Here&#8217;s What Changed For One Of Crypto&#8217;s Biggest Advocates</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/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

HOOD

PLTR

RBLX

TSLA

Palantir, Roblox, Boeing, Robinhood, Tesla: Why These 5 Stocks Are On Investors' Radars Today

ByteDance-owned TikTok is facing legal action from&nbsp;13 U.S. states and the&nbsp;District of Columbia.&nbsp;The states accuse TikTok of&nbsp;causing harm to its younger users.
What Happened: On Tuesday, separate lawsuits were filed&nbsp;in New York, California, the&nbsp;District of Columbia, and 11 other states, accusing TikTok of using software designed to keep children&nbsp;engaged for extended periods, reported Reuters.
The short-form&nbsp;video platform is also accused of misrepresenting the effectiveness of its content moderation.
California Attorney General Rob Bonta&nbsp;said,&nbsp;&#8220;TikTok cultivates social media addiction&nbsp;to boost corporate profits.&#8221; The states argue that TikTok seeks to maximize user engagement to target them with ads.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/10/41196932/legendary-apple-co-founder-steve-jobs-once-said-being-the-richest-man-in-the-cemetery-doesnt-matter?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Legendary Apple Co-Founder Steve Jobs Once Said, &#8216;Being The Richest Man In The Cemetery Doesn&#8217;t Matter To Me:&#8217; Maybe That&#8217;s Why His Impact Transcends Financial Success For iPhone-Maker And Beyond</a>
New York Attorney General Letitia&nbsp;James stated,&nbsp;&#8220;Young people are struggling with&nbsp;their mental health because of addictive social media platforms like&nbsp;TikTok.&#8221;
TikTok responded to these allegations, saying that many are &#8220;inaccurate and misleading.&#8221; The company expressed disappointment that&nbsp;the states chose to sue&nbsp;rather than collaborate on solutions to industrywide challenges.
Washington D.C. Attorney General Brian&nbsp;Schwalb accused TikTok of operating&nbsp;an unlicensed money transmission business&nbsp;through its live streaming and&nbsp;virtual currency features, the report noted.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: This legal action against TikTok comes on the <a href="https://www.benzinga.com/news/24/04/38508391/after-biden-signs-tiktok-ban-into-law-top-eu-leader-says-not-ruling-out-action-against-chinese-platf">heels of a bill signed by</a> President Joe Biden, which could force TikTok&#8217;s parent company, ByteDance, to sell the company or face a ban in the U.S.
This also follows&nbsp;a nationwide probe of TikTok&#8217;s impact on young people launched by eight states in March 2022.
Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), which owns Instagram and Facebook, Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>), and Alphabet Inc.&#8217;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>) YouTube could gain from <a href="https://www.benzinga.com/government/24/03/37710878/congress-moves-to-ban-tiktok-could-members-benefit-from-positions-in-social-media-stocks-like-meta-p">rising concerns about TikTok</a>.
According to Apptopia, TikTok has consistently outpaced other major social media apps, including Instagram, Facebook, Snapchat, YouTube, and X (formerly Twitter), in U.S. downloads every quarter since 2020.
However, when the ByteDance-owned platform was banned in India, platforms like YouTube, Instagram, and local short-video apps Moj and Josh experienced major user growth in the country, according to Sensor Tower.
With TikTok facing legal scrutiny, users may migrate to other platforms. Moreover, as advertisers reassess their strategies, they may shift their budgets toward platforms perceived as more stable or compliant with regulations.
Photo by XanderSt on Shutterstock
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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<li><a href="https://www.benzinga.com/markets/equities/24/10/41221276/apple-supplier-foxconn-to-build-worlds-largest-nvidia-superchip-factory-amid-soaring-ai-demand?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple Supplier Foxconn To Build World&#8217;s Largest Nvidia Superchip Factory Amid Soaring AI Demand</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

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TikTok Gets Sued: 13 States And DC Accuse Chinese Platform Of 'Boosting Corporate Profits' Via Social Media Addiction

Leading cryptocurrencies remained flat Tuesday, with Ethereum making modest gains, as falling oil prices boosted sentiment.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:45 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-0.28%</td>
<td>$$62,418.83</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>+1.23%</td>
<td>$2,463.51</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>-0.60%</td>
<td>$0.1087</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin spiked above $63,000 as markets opened, but the gains were reversed quickly, causing the apex cryptocurrency to wobble in the early $62,000 zone.
Ethereum moved sideways for much of the day until a sharp spike overnight pushed it to $2,470.  
Total cryptocurrency liquidations hit nearly $140 million in the last 24 hours, with long liquidations accounting for over 60% of the total.&nbsp;
Bitcoin's Open Interest rose 0.13% in the last 24 hours, indicating the opening of new short positions that may have caused a price decline.
The number of traders placing bearish bets on the coin continued to exceed those gunning for price increases, lending credence to the aforementioned claim.
The Cryptocurrency Fear &amp; Greed remained in the "Neutral" zone as of this writing.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:45 p.m. EDT)</td>
</tr>
<tr>
<td>First Neiro On Ethereum (NEIRO)</td>
<td>+12.78%</td>
<td>$0.001909</td>
</tr>
<tr>
<td>EigenLayer (EIGEN)</td>
<td>+9.07%</td>
<td>$3.73</td>
</tr>
<tr>
<td>Monero (XMR)</td>
<td>+3.27%</td>
<td>$150.36</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency stood at $2.17 trillion, following a contraction of 0.29% in the last 24 hours.
Stocks clawed back sharply Tuesday following Monday's retrace.&nbsp;
Monday after closing last week on a high. The Dow Jones Industrial Average rose 126.13 points, or 0.30%, to close at 42,080.37. The broad-based index S&amp;P 500 gained 0.97%, ending at 5,751.13, while the tech-focused Nasdaq Composite spiked 1.45% to close at 18,182.92.
The rally coincided with a sharp fall in oil prices, with West Texas Intermediate (WTI) <a href="https://www.benzinga.com/markets/equities/24/10/41234113/crude-oil-falls-over-4-us-trade-deficit-narrows-in-august">trading down 4%</a> earlier in the day. As of this writing, WTI was valued at $73.60 a barrel as traders continued to weigh the economic and geopolitical implications of escalating <a href="https://www.benzinga.com/topic/middle-east">tensions in the Middle East.</a>
Furthermore, technology stocks helped power the rebound, with AI juggernaut NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) popping 4.05% during the regular session.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Widely-followed cryptocurrency analyst Rekt Capital stated that Bitcoin was currently in "no man's land."&nbsp;
The analyst added that King Crypto needed a daily close above $64,200 to enter the channel top and attempt an upside breakout.
<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> Bitcoin seems to be finding resistance at the $64200 (purple) level The reality is that Bitcoin is only one Daily Close above purple away from challenging the Channel Top (black) once again But at the moment, BTC is mid-channel, in no man&#39;s land<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$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/nuoj4nKiXb">https://t.co/nuoj4nKiXb</a> <a href="https://t.co/cHyoeO9hGH">pic.twitter.com/cHyoeO9hGH</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1843606492785586273?ref_src=twsrc%5Etfw">October 8, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Cryptocurrency researcher Michaël van de Poppe, noting Ethereum's outperformance, predicted that it would eventually "take over" Bitcoin.&nbsp;
"Slowly, but surely, I think the beast will take over and continue to outperform, hence through which altcoins are likely going to do way better than Bitcoin,"
<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/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> outperforming Bitcoin today. Slowly, but surely, I think the beast will take over and continue to outperform, hence through which altcoins are likely going to do way better than Bitcoin. Crucial? Breakout above $65K for Bitcoin too.
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1843720136949411899?ref_src=twsrc%5Etfw">October 8, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by stockphoto-graf on Shutterstock
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41234936/ftx-to-repay-creditors-up-to-16-5b-is-this-bullish-for-bitcoin">FTX To Repay Creditors Up To $16.5B: Is This Bullish For Bitcoin?</a></li>
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Movers

Trading Ideas

$DOGE

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Bitcoin, Dogecoin Muted, Ethereum Gains Amid Stocks Rebound: Analyst Says ETH Surpassing BTC's Returns Inevitable — 'The Beast Will Take Over And Continue To Outperform'

Cathie Wood&#8217;s Ark Invest made significant trades in Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Robinhood Markets Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), and Coinbase Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>).
The Amazon Trade: Ark Invest purchased 76,505 shares of Amazon, despite recent concerns about the company&#8217;s growth trajectory. The trade was executed through its flagship ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>).
This move came after <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41234873/amazon-stock-downgrade-by-wells-fargo-a-bearish-signal-on-growth-concerns">Wells Fargo downgraded</a> Amazon from Overweight to Equal-Weight, citing slowing growth and stiffer competition. The value of this trade, based on the closing price of $182.72, is approximately $13.98 million.
Amazon shares dropped Monday after Wells Fargo downgraded the stock, citing slowing growth and competition. The sell-off was <a href="https://www.benzinga.com/news/24/10/41216248/amazon-stock-is-sliding-monday-whats-going-on">also fueled</a> by a federal judge&#8217;s ruling allowing the FTC&#8217;s antitrust lawsuit against Amazon to proceed.
The Robinhood Trade: Ark Invest sold a total of 1,421,431 shares of Robinhood across three of its ETFs i.e. ARKK, ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>) and Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>). This decision came despite Robinhood&#8217;s recent announcement of its first investor day and the introduction of <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41236863/robinhood-eyes-major-growth-with-new-trading-features-while-coinbase-rides-crypto-s">new trading features</a>. The value of this trade, based on the closing price of $25.61, is approximately $36.4 million.
The Coinbase Trade: Ark Invest bought 12,994 shares of Coinbase through its ARKF ETF. This move aligns with the recent surge in Coinbase shares following the company&#8217;s announcement to <a href="https://www.benzinga.com/news/24/10/41191796/why-coinbase-global-shares-are-trading-higher-today">adjust its service offerings</a> in response to new European regulatory requirements. The value of this trade, based on the closing price of $167.69, is approximately $2.18 million.
See Also: <a href="https://www.benzinga.com/news/24/10/41208397/this-alibaba-analyst-turns-bullish-here-are-top-5-upgrades-for-monday?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">This Alibaba Analyst Turns Bullish; Here Are Top 5 Upgrades For Monday</a> 
Other Key Trades:
<ul>
<li>Ark purchased 2,365 shares of Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) through its ARKW ETF. The Meta trade was valued at $1.4 million. On Tuesday, Meta shares closed 1.4% higher at $592.89.</li>
<li>Ark Invest sold shares of Veeva Systems Inc (VEEV) and shares of Vertex Pharmaceuticals Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) through its ARKG ETF. It bought shares of Recursion Pharmaceuticals Inc (RXRX) and shares of 10X Genomics Inc (TXG). </li>
</ul>
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41221351/elon-musks-theory-gains-ground-polymarket-odds-soar-for-nick-szabo-being-named-bitcoin-cre?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s Theory Gains Ground? Polymarket Odds Soar For Nick Szabo Being Named Bitcoin Creator Satoshi Nakamoto In HBO Documentary</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/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

ETFs

AMZN

ARKF

ARKK

ARKW

COIN

VRTX

Cathie Wood's Ark Invest Trades: Bets $14M On Amazon Shares — Dumps Robinhood Stock Worth $36M, Embraces Coinbase And Meta

Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) CEO Albert Bourla is set to meet with activist investor Starboard Value amid growing pressure to revitalize the pharmaceutical giant&#8217;s struggling share price and refine its strategic focus. The meeting comes as Starboard builds a $1 billion stake in Pfizer, equivalent to about 0.6% of the <a href="https://www.benzinga.com/markets/equities/24/10/41199793/amid-pfizers-struggles-with-declining-demand-for-covid-19-treatments-activist-investor-starboard">company&#8217;s $165 billion market value</a>.
What Happened: Bourla and at least one other director will hold talks with Starboard next week, following the revelation of the fund&#8217;s significant investment. The activist investor, led by CEO Jeff Smith, is calling for a strategy shift and has prepared an extensive slide deck outlining its turnaround plans, <a href="https://www.ft.com/content/38a73294-f6b0-48c8-a29a-8626c2da30d5">reported</a> the Financial Times citing people familiar with the matter.
The mounting pressure on Pfizer&#8217;s leadership comes as the company&#8217;s stock has <a href="https://www.benzinga.com/news/24/10/41212540/pfizer-stock-is-moving-higher-monday-whats-driving-the-action">fallen more than 30% over the past two years</a>, sinking below pre-pandemic levels. According to the report, critics argue that Pfizer has mismanaged its $92 billion COVID-19 windfall, particularly pointing to a costly $70 billion acquisition spree that has failed to boost the company&#8217;s valuation.
In an unusual twist, two of Pfizer&#8217;s former top executives, ex-CEO Ian Read and former CFO Frank D&#8217;Amelio, are reportedly collaborating with Starboard. The pair has reached out to at least four Pfizer directors, urging them to consider working with the activist investor, <a href="https://www.wsj.com/health/pharma/pfizer-ceos-job-is-at-risk-a-shot-of-discipline-could-help-1b210b18">reported</a> The Wall Street Journal.
Analysts and investors are speculating about potential management changes, with some receptive to the idea. However, others caution that a mere change at the top may not be sufficient to address Pfizer&#8217;s challenges, citing the importance of a promising drug pipeline for long-term success in the pharmaceutical industry.
"We've sensed investor frustration with CEO Albert Bourla since at least the beginning of 2023," BMO Capital Markets analyst&nbsp;Evan Seigerman&nbsp;wrote, according to WSJ.
Pfizer and Starboard Value did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>&#8216;s request for comment.
See Also: <a href="https://www.benzinga.com/news/24/10/41208397/this-alibaba-analyst-turns-bullish-here-are-top-5-upgrades-for-monday?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">This Alibaba Analyst Turns Bullish; Here Are Top 5 Upgrades For Monday</a>
Why It Matters: Starboard is expected to push for a more focused development strategy and deeper cost cuts beyond the $5.5 billion reduction already announced by Pfizer through 2027. Critics argue that Pfizer&#8217;s recent acquisitions, spanning neuroscience, blood disorders, and cancer, lack a clear, cohesive focus.
Bourla has acknowledged missing earnings expectations and weak commercial performance but maintains that investors haven&#8217;t fully appreciated the potential value of recent acquisitions, such as the $43 billion Seagen deal.
As pressure mounts, Bourla has shown signs of attentiveness to Wall Street critics. Earlier this year, he hired Andrew Baum, a former Pfizer bear at Citi, as chief strategy and innovation officer, in a move reminiscent of Novartis&#8216; hiring of outspoken analyst Ronny Gal.
In a bid to streamline its operations, Pfizer recently divested a $3.3 billion stake in Haleon, reducing its shareholding from 22.6% to 15%. Despite these efforts, the company remains <a href="https://www.benzinga.com/markets/equities/24/10/41112790/pfizer-divests-3-3b-stake-in-sensodyne-toothpaste-and-panadol-painkiller-maker-haleon">under pressure to deliver better financial returns</a> and strategic clarity.
Price Action: Pfizer&#8217;s stock closed on Tuesday at $29.18, down 0.068% during regular trading hours. However, in after-hours trading, the stock gained 0.31%. Year to date, Pfizer&#8217;s stock has fallen by 1.85%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/10/41201263/meta-stock-returns-pale-next-to-peter-thiels-secretive-data-company-even-as-mark-zuckerberg-comp?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meta Stock Returns Pale Next To Peter Thiel&#8217;s Secretive Data Company Even As Mark Zuckerberg Company&#8217;s AI Advancements Generate Excitement</a></li>
</ul>
Image Via 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/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Pfizer CEO Albert Bourla Set To Meet Activist Investor Starboard Value As Pressure Mounts To Revitalize Struggling Stock: Report

In the face of impending Hurricane Milton, Florida Governor Ron DeSantis has refuted claims made by Vice President Kamala Harris accusing him of &#8220;political gamesmanship&#8221;. DeSantis has labeled these accusations as &#8220;delusional&#8221;, following reports that he did not respond to Harris&#8217;s calls during the hurricane preparations.
What Happened: In a Fox News interview, confirmed his use of all available resources, including federal aid, to prepare for the hurricane expected to hit Florida on Wednesday. He also confirmed his ongoing communication with President Joe Biden and officials from the Federal Emergency Management Agency, <a href="https://thehill.com/homenews/state-watch/4921329-desantis-accuses-harris-political-gamesmanship/">reported</a> The Hill.
In response to Harris&#8217;s criticism, DeSantis stated, &#8220;And so for Kamala Harris to try to say that my sole focus on the people of Florida is somehow selfish, is delusional.&#8221; He accused Harris of trying to politicize the storm for her campaign.
See Also: <a href="https://www.benzinga.com/news/24/10/41195370/elon-musk-said-his-blood-was-boiling-after-fema-allegedly-didnt-allow-spacex-engineers-to-deliver-st?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Said His Blood Was &#8216;Boiling&#8217; After FEMA Allegedly Didn&#8217;t Allow SpaceX Engineers To Deliver Star</a>
Previously, Harris had expressed her concerns about DeSantis&#8217;s refusal to take her calls, accusing him of prioritizing political games over the welfare of the people. DeSantis, however, countered these accusations by emphasizing his focus on the people of Florida and his effective management of several storms during his tenure.
Why It Matters: Earlier, DeSantis <a href="https://www.benzinga.com/news/24/10/41219961/ron-desantis-denies-ignoring-kamala-harriss-calls-amid-hurricane-emergency-i-didnt-know-she-called-m">denied knowledge</a> of any calls made by Harris in the aftermath of Hurricane Helene. He claimed ignorance of Harris's calls during a press conference about the upcoming Hurricane Milton and suggested the calls "seemed political."
DeSantis&#8217;s handling of the hurricane situation and his relationship with the federal government could have significant implications for the welfare of Florida&#8217;s residents, especially as Hurricane Milton is expected to make landfall in Tampa, Florida on Wednesday evening.
Hurricane Milton, which reached Category 5 with winds of 180 mph before being downgraded to Category 4. President Biden emphasized evacuation efforts and federal support, while Tampa&#8217;s mayor dispelled rumors of insufficient resources. The storm could <a href="https://www.benzinga.com/markets/equities/24/10/41239644/hurricane-milton-evacuations-a-matter-of-life-and-death-biden-says-feds-bostic-says-storm-could-">significantly impact insurance and other sectors</a>, with damages possibly exceeding $50 billion.
Did You Know?
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</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/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

General

Ron Desantis Says Kamala Harris Is 'Delusional' For Trying To Say His Sole Focus On People Of Florida Is Selfish Amid Phone Call Row

Tesla and SpaceX CEO Elon Musk&#8217;s social media platform, X, formerly Twitter, has been granted permission by Brazil&#8217;s Supreme Court to <a href="https://www.benzinga.com/news/24/09/40748476/fcc-chief-defends-elon-musks-x-and-starlink-amid-brazils-punitive-actions-warns-business-leaders-are">recommence its operations</a> in the country.
What Happened: On Tuesday, Brazil&#8217;s Supreme Court Justice Alexandre de&nbsp;Moraes confirmed that&nbsp;X had met all the&nbsp;necessary prerequisites to restart its operations in Brazil, reported Reuters.
In his ruling, Moraes directed Brazil&#8217;s telecommunications regulator Anatel to facilitate X&#8217;s return to online operations within 24 hours. However,&nbsp;as of 7 p.m. local&nbsp;time, users&nbsp;in Brazil were still unable&nbsp;to access the platform.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/10/41199834/unreleased-m4-macbook-pro-shown-off-by-russian-youtuber-weve-seen-prototypes-leak-early-but-never-a?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Unreleased M4 MacBook Pro Shown Off By Russian YouTuber: &#8216;We&#8217;ve Seen Prototypes Leak Early But Never A Full Retail Apple Device Weeks In Advance,&#8217; Says Expert</a>
Following the decision, X&#8217;s Global Government Affairs handle on the platform said, &#8220;We will continue to defend freedom of speech, within the boundaries of the law, everywhere we operate.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">X is proud to return to Brazil. Giving tens of millions of Brazilians access to our indispensable platform was paramount throughout this entire process. We will continue to defend freedom of speech, within the boundaries of the law, everywhere we operate. &#8212;&#8212;&#8212;&#8212;&#8212;&#8212;- O…
&mdash; Global Government Affairs (@GlobalAffairs) <a href="https://twitter.com/GlobalAffairs/status/1843773083783471139?ref_src=twsrc%5Etfw">October 8, 2024</a></blockquote>
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This development follows a series of events that led to the suspension of X&#8217;s operations in Brazil. In late August, X was banned in Brazil due to a disagreement with a local judge over what <a href="https://www.benzinga.com/news/24/09/41062162/elon-musks-x-reportedly-aims-for-brazil-reentry-backs-down-from-censorship-dispute">Musk referred to as &#8220;censorship.&#8221;</a>
However, the tech mogul began to shift his stance later. His platform started&nbsp;blocking accounts flagged by the&nbsp;court, appointed a local representative, and <a href="https://www.benzinga.com/news/24/10/41201314/elon-musks-x-paid-5m-to-wrong-bank-in-brazil-delaying-reinstatement-of-its-services-in-the-country">paid outstanding fines</a>.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Previously, Meta Platforms, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) Instagram and Facebook also faced regulatory challenges in Brazil, after the Latin American country prohibited it from using users&#8217; posts to train its AI models
According to Statista, as of the third quarter of 2023, WhatsApp led Brazil&#8217;s social media usage, with 93.4% of the online population using the platform. Instagram followed at 91.2%, while Facebook was used by 83.3% of internet users.&nbsp;
TikTok and Facebook Messenger had 65.1% and 60.8% usage, respectively, with Pinterest, Telegram, Kuaishou, and Twitter capturing smaller portions of the market.
Meta introduced WhatsApp&#8217;s native payment feature in Brazil in June 2020, but it was <a href="https://www.benzinga.com/government/22/04/26706461/metas-whatsapp-business-fund-transfer-hits-roadblock-in-brazil-ft">blocked by the Central Bank</a> due to authorization issues with Mastercard and Visa.
After nine months, person-to-person debit card transfers were allowed in March 2021, followed by credit card payments for small businesses in April 2023.
By June 2024, large companies could accept credit card payments, and Pix was added, marking a four-year journey to full availability.
Musk&#8217;s X also strives to become an &#8220;everything app,&#8221; which includes <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40229658/elon-musks-vision-for-x-everything-app-advances-could-dogecoin-skyrocket-with-payments-lau">shopping and payment features</a>.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Image via Shutterstock
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<li><a href="https://www.benzinga.com/news/24/10/41200026/chinese-hackers-breach-at-t-verizon-networks-in-major-wiretap-data-theft-putting-us-national-securit?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Chinese Hackers Breach AT&amp;T, Verizon Networks In Major Wiretap Data Theft Putting US National Security At Risk: Report</a></li>
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Legal

Elon Musk Vows To Defend Freedom Of Speech, But 'Within The Boundaries Of The Law' As X Gets Brazil Greenlight To Resume Operations

The hotly-awaited HBO documentary purportedly revealing the real identity of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) creator Satoshi Nakamoto just aired, but does it truly unveil one of the most enduring mysteries of our time?
What happened:  The documentary titled &#8220;Money Electric: The Bitcoin Mystery,&#8221; directed by investigative filmmaker Cullen Hoback, has sparked interest ever since its cinematic trailer was dropped last week.
The documentary covers Bitcoin's roots and introduces various figures from the early days of its development, including Blockstream CEO Adam Back. 
Toward the end of the documentary, however, Hoback locks in on Bitcoin Core engineer Peter Todd, providing a series of hints that he may be the leading cryptocurrency&#8217;s secret inventor, <a href="https://decrypt.co/285252/im-not-satoshi-hbo-documentary-misfires-bitcoin">according</a> to Decrypt. 
Todd quickly took to X to deny the claim. &#8220;I&#8217;ve done a lot of things in life that have put me in the spotlight. Not my first rodeo. But this might be crazier than before,&#8221; he said in another post.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I&#39;m not Satoshi.
&mdash; Peter Todd (@peterktodd) <a href="https://twitter.com/peterktodd/status/1843789750983110697?ref_src=twsrc%5Etfw">October 8, 2024</a></blockquote>
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&nbsp;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41234336/crypto-com-takes-on-sec-in-legal-battle-after-receiving-wells-notice">Crypto.Com Takes On SEC In Legal Battle After Receiving Wells Notice</a>
Why It Matters: Satoshi Nakamoto is the alias for whoever wrote the Bitcoin <a href="https://bitcoin.org/bitcoin.pdf">whitepaper </a>and is credited with developing Bitcoin. Several persons have claimed or were believed to be Satoshi, but their genuine identity has never been confirmed or revealed.
Speculation over Nakamoto&#8217;s identity has long been a subject of intense speculation, with names of several technologists and computer scientists over the years, including Australian computer scientist Craig Wright, late American software developer Hal Finney, and Litecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ltc/usd">LTC</a>) creator Charlie Lee, and Adam Back..
Preceding the reveal, betting odds saw wild fluctuation on who HBO would identify as Nakamoto. While late cypherpunk and privacy advocate Len Sassaman was <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41200679/len-sassaman-is-bitcoin-creator-satoshi-nakamoto-in-hbo-documentary-polymarket-punters-see">punters&#8217; favorite </a>earlier, the odds quickly <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41221351/elon-musks-theory-gains-ground-polymarket-odds-soar-for-nick-szabo-being-named-bitcoin-cre">shifted in favor</a> of Nick Szabo—another noted scientist from Bitcoin&#8217;s early evolution days. 
With Satoshi holding <a href="https://www.arkhamintelligence.com/research/who-owns-the-most-bitcoin-2023-edition">more than a million Bitcoins</a> (out of the 21 million total supply maximum), interested parties find a rational factor in seeking out their identity, as any movement of their holdings could drastically affect the coin&#8217;s price. 
Price Action: At the time of writing, Bitcoin was exchanging hands at $62,269.11, down 2.03% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. &nbsp;
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41237292/bitcoin-ethereum-solana-projected-to-surge-by-2025-regardless-of-election-outcome-report">Bitcoin, Ethereum, Solana Projected To Surge By 2025, Regardless Of Election Outcome: Report</a></li>
</ul>

$LTC

Peter Todd Is Satoshi Nakamoto? Bitcoin Core Developer Denies HBO Documentary Claims: 'I'm Not Satoshi'

An Afghan national, based in Oklahoma City, has been charged with planning a terror attack in the United States on Election Day. The individual was allegedly acting on behalf of the Islamic State of Iraq and al-Sham (ISIS). Donald Trump Jr. reacted to the development.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Donald Trump has been proven right AGAIN! <a href="https://t.co/CZPbv2T4wP">https://t.co/CZPbv2T4wP</a>
&mdash; Donald Trump Jr. (@DonaldJTrumpJr) <a href="https://twitter.com/DonaldJTrumpJr/status/1843806659942257080?ref_src=twsrc%5Etfw">October 9, 2024</a></blockquote>
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The US Justice Department has brought charges against Nasir Ahmad Tawhedi, 27, for allegedly conspiring and attempting to provide material support to ISIS. Tawhedi is also accused of procuring firearms and ammunition for the intended attack. He reportedly took actions to liquidate his family&#8217;s assets, relocate his family members abroad, and acquire AK-47 assault rifles and ammunition.
The eldest child of former president Donald Trump said on X that his father has &#8220;been proven right&#8221; once again. Trump Jr. shared the news which described the person as having entered the United States on a &#8220;special immigrant visa&#8221; on Sept. 9, 2021.
&#8220;As charged, the Justice Department foiled the defendant's plot to acquire semi-automatic weapons and commit a violent attack in the name of ISIS on U.S. soil on Election Day,&#8221; stated Attorney General Merrick B. Garland.
See Also: <a href="https://www.benzinga.com/news/24/10/41220104/elon-musk-says-billionaires-supporting-kamala-harris-are-scared-epstein-list-will-be-made-public-if?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Billionaires Supporting Kamala Harris Are Scared Epstein List Will Be Made Public If Trump Returns To Power — Bill Gates Will Be Nervous</a>
According to the criminal complaint, Tawhedi was seen in a video reading to two children text that describes the rewards a martyr receives in the afterlife. He allegedly accessed, viewed, and saved ISIS propaganda on his iCloud and Google account, participated in pro-ISIS Telegram groups, and contributed to a charity which fronts for and funnels money to ISIS.
If convicted, he faces a maximum prison sentence of 20 years for conspiring and attempting to provide material support to ISIS, and a maximum of 15 years for receiving a firearm to be used to commit a felony or a federal crime of terrorism.
Photo Courtesy: Shutterstock.com
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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>

Trump Jr. Says His Dad 'Has Been Proven Right Again' After FBI Foils Afghan National's Election Day Terror Plot

Betsey Stevenson, a former economic adviser to former President Barack Obama, has challenged the notion that <a href="https://www.benzinga.com/news/24/09/40744471/trumps-plan-to-ban-mortgages-for-undocumented-immigrants-sparks-debate-what-do-the-numbers-say">undocumented immigrants are readily obtaining mortgages</a> in the United States.
What Happened: Stevenson, now an economist at the University of Michigan, took to X, formerly Twitter, to address the issue. &#8220;Of all the anti-immigration myths, the idea that undocumented immigrants are applying for and getting mortgages is the craziest,&#8221; she wrote.
To illustrate her point, Stevenson cited the case of Ben Bernanke, former Federal Reserve chairman, who reportedly struggled to secure a mortgage after leaving his position due to difficulties documenting his income.
Responding to a claim about mission-oriented lenders providing mortgages without proof of legal presence, Stevenson acknowledged the existence of such practices for long-standing undocumented residents. However, she emphasized that recent border crossers are not &#8220;heading straight to the bank to buy a house.&#8221;
The debate highlights the complexities surrounding immigration and financial services in the U.S., with Stevenson&#8217;s comments shedding light on common misconceptions about undocumented immigrants&#8217; access to mortgages.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Of all the anti-immigration myths, the idea that &#x2A;&#x2A;undocumented&#x2A;&#x2A; immigrants are applying for and getting mortgages is the craziest. When Ben Bernanke stepped down from the Federal Reserve Board he couldn&#39;t get a mortgage because he couldn&#39;t document his income well enough.
&mdash; Betsey Stevenson (@BetseyStevenson) <a href="https://twitter.com/BetseyStevenson/status/1843703735949897994?ref_src=twsrc%5Etfw">October 8, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/news/earnings/24/10/41161081/us-stocks-staring-at-another-weak-open-as-traders-await-key-jobs-report-sentiment-wavers-as-oil-ext?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Why Nasdaq, S&amp;P 500 Futures Are Trading Lower Thursday</a>
Why It Matters: The debate over undocumented immigrants and their access to mortgages has intensified in recent months. 
In early September, a proposal by former President Donald Trump to <a href="https://www.benzinga.com/news/24/09/40744471/trumps-plan-to-ban-mortgages-for-undocumented-immigrants-sparks-debate-what-do-the-numbers-say">ban mortgages for undocumented immigrants</a> sparked significant debate. The plan raised questions about the economic implications and the accuracy of claims regarding undocumented immigrants&#8217; access to financial services. 
Meanwhile, California is considering offering up to $150,000 in home loan <a href="https://www.benzinga.com/real-estate/24/09/40760293/california-could-soon-offer-undocumented-immigrants-up-to-150-000-in-home-loan-assistance-but-critic">assistance to undocumented immigrants</a>, a move that has drawn both support and criticism. Critics express concern over the potential financial burden on taxpayers. 
Additionally, the broader economic impact of undocumented immigration has been highlighted by figures like Nassim Taleb, who warned that curbing <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/39023220/undocumented-immigration-good-for-economy-black-swan-author-nassim-taleb-warns-any-">undocumented immigration could lead to inflation</a> due to the U.S.&#8217;s reliance on cheap labor. 
Read Next: 
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<li><a href="https://www.benzinga.com/news/earnings/24/10/41224832/us-stocks-poised-to-bounce-back-as-bond-yields-dip-oil-prices-slide-pepsico-pulls-back-set-up-quite?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nasdaq, S&amp;P 500 Futures On Track To Rebound Tuesday: What&#8217;s Driving Sentiment</a></li>
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Image Via Pixabay 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Economics

Former Obama Adviser Points Out Chief Ben Bernanke Couldn't Get A Mortgage After He Left The Fed: 'Idea That Undocumented Immigrants Are Applying For And Getting Mortgages Is The Craziest'

In his soon-to-be-released book &#8220;War&#8221;, renowned journalist Bob Woodward uncovers a strained relationship between U.S. President Joe Biden and Israeli Prime Minister Benjamin Netanyahu.
What Happened: The book, scheduled for release on October 15, includes excerpts <a href="https://edition.cnn.com/2024/10/08/politics/bob-woodward-book-war-joe-biden-putin-netanyahu-trump/index.html">published</a> by CNN on Tuesday. These excerpts reveal Biden&#8217;s private objections to Netanyahu&#8217;s military operations in Gaza and Iran.
Woodward&#8217;s book discloses that Biden privately rebuked Netanyahu, branding him a &#8220;bad guy&#8221; and a &#8220;liar&#8221;. The U.S. President also reportedly showed dissatisfaction with Israel&#8217;s assassination of a Hezbollah military commander in Beirut, and questioned Israel&#8217;s global image.
Biden allegedly yelled at Netanyahu and said, &#8220;Bibi, what the f&#x2A;&#x2A;&#x2A;?" after the assassination.
&#8220;You know the perception of Israel around the world increasingly is that you're a rogue state, a rogue actor,&#8221; according to the author.
Netanyahu justified his actions, claiming the commander was a leading terrorist and that a firm stance would assist in negotiations. Woodward also noted that Biden had disparaging remarks about Netanyahu&#8217;s associates, labeling 18 out of 19 of them as &#8220;liars.&#8221;
White House deputy press secretary Emilie Simons said, on the relationship between Biden and Trump, &#8220;They have a long-term relationship. They have a very honest and direct relationship, and I don't have a comment on those specific anecdotes.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/10/41201763/trumps-niece-says-potential-2nd-term-for-ex-president-will-be-focused-on-revenge-if-given-the-power?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Niece Says Potential 2nd Term For Ex-President Will Be Focused On Revenge: &#8216;If Given The Power, He Will Have His Vengeance&#8217;</a>
Why It Matters: This revelation comes in the wake of several other significant disclosures from Woodward&#8217;s book. Earlier Benzinga reported that the book alleges former President Donald Trump <a href="https://www.benzinga.com/general/politics/24/10/41235596/trump-secretly-stayed-in-contact-with-putin-after-leaving-office-upcoming-bob-woodward-book-alle">maintained secret contact</a> with Russian President Vladimir Putin after leaving office.
Trump previously <a href="https://www.benzinga.com/news/22/10/29317698/trump-showed-love-letters-from-kim-jong-un-to-journalist-knowing-they-were-top-secret-report">showed &#8216;love letters&#8217; </a>from North Korean leader Kim Jong Un to Woodward, despite knowing they were classified.
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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>

Biden Yelled And Swore At Israel PM Netanyahu, Reveals Woodward's New Book: 'You're A Rogue State'

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Vice President Kamala Harris has grown her lead over former President Donald Trump in a weekly head-to-head poll of likely voters with less than one month until the <a href="https://www.benzinga.com/topic/2024-election">2024 presidential election.</a>
What Happened: Harris has shown a lead over Trump in many election polls, while election betting odds <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41205762/donald-trump-takes-2-7-point-election-betting-odds-lead-over-kamala-harris-more-accurate-t">and prediction markets</a> have fluctuated to show a tight race as election day nears.
A new Morning Consult <a href="https://pro.morningconsult.com/trackers/2024-presidential-election-polling">poll </a>of likely voters shows Harris' lead tying a record high six points, a lead she had after the presidential debate between the two candidates in September.
The new poll shows the following results from voters, with the results from the<a href="https://www.benzinga.com/general/politics/24/10/41132643/harris-vs-trump-vice-president-leads-former-president-by-5-points-walz-favorability-rating-tops-"> Oct. 1 poll</a> in parentheses:
<ul>
<li>Kamala Harris: 51% (51%)</li>
<li>Donald Trump: 45% (46%)</li>
<li>Someone Else: 2% (2%)</li>
<li>Don't Know: 2% (2%)</li>
</ul>
The poll also found that 94% of Democrats backed Harris as their top pick, in line with last week's poll. The poll also found 92% of Republicans backed Trump as their top pick, in line with last week's poll.
Independent voters selected the following as their head-to-head preference, with the results from the Oct. 1 poll in parentheses:
<ul>
<li>Kamala Harris: 45% (45%)</li>
<li>Donald Trump: 44% (44%)</li>
<li>Someone Else: 5% (5%)</li>
<li>Don't Know: 5% (5%)</li>
</ul>
The vice president also has the edge in the 18-34 age voters demographic, leading 53% to 43%. The 10-point lead is in line with last week's lead, but down from a lead of 15 points three weeks ago.  
Among Black voters, Harris leads by 77% to 19%, in line with last week's poll.
Did You Know?
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<li>Congress Is Making Huge Investments.&nbsp;<a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent100824" target="_blank" rel="noreferrer noopener">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
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Why It&#8217;s Important: Harris ties her record lead, which comes as good news given the predicted tight race and the timing of election day nearing.
The latest poll comes after the vice-presidential debate between Tim Walz and J.D. Vance, which many media outlets and polls showed Republican Vance <a href="https://www.benzinga.com/general/politics/24/10/41151403/walz-vs-vance-who-won-vp-debate-and-could-the-outcome-shift-2024-election-for-harris-or-trump">as the winner</a>. The latest poll shows that the vice president debate may have had minimal impact on the overall election race.
The bad news for Harris is that Trump continues to show gains or hold his gains from last week among several key demographics, including Independent voters.
Harris had posted a stronger lead among the key Independent voter demographic for several weeks before holding onto a minimal one-point advantage in back-to-back weeks.
The vice president debate shifted favorability rankings with Vance going from 39% to 40% and Walz going from 45% to 48%. Vance saw his best net buzz rating, or the amount of people hearing positive comments about him minus the amount hearing something negative, since joining the Trump ticket.
One likely positive for Harris is the <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41184080/us-economy-adds-254-000-new-jobs-in-september-smashes-expectations-unemployment-f">impressive jobs report </a>last week that saw a higher-than-expected figure. The result was the election poll showing net buzz on jobs (+12) and economy (-6) hitting highs not seen since February and March of 2024, respectively.
Another potential negative for Harris is her net buzz falling below double digits for the first time since she became the Democratic Party nominee. This means that the amount of negative comments about her may be increasing or positive commentary is wearing off.
Harris <a href="https://www.benzinga.com/general/entertainment/24/10/41214476/will-kamala-harriss-media-blitz-including-60-minutes-and-call-her-daddy-improve-her-2024-el">ramped up efforts </a>to be more present with the media this week with appearances on the Call Her Daddy podcast, "60 Minutes," "The Howard Stern Show," "The View" and taking part in a Town Hall.
Next week's poll could show if the media blitz efforts paid off for the vice president.
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<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent100824">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
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Photo: Shutterstock

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