Adyen (OTC:ADYYF) Stock, Quote.Headers.trade-ideas

Adyen is a payment company that provides merchants with a single platform to accept e-commerce, mobile, and point-of-sale payments in multiple countries using various payment schemes and methodologies. Adyen started out providing only gateway and payment processing services to merchants but soon expanded into merchant acquiring services as well. Adyen obtained a banking licence to improve settlement of merchant accounts.

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Fintech and Digital Assets are the next economic boom. According to a Global Market Insights report, Fintech as a Service (FaaS) industry is estimated to grow from a $260.7 billion market size in 2022 to $995.9 billion in 2032 (CAGR: 14%).

Fintech Market Will Soar To $1T, Crypto Asset Management To Reach $3.1B: New Economic Titans

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Cathie Wood Sells Shopify Shares Worth $9.2M — Ark Goes Shopping This Dutch Payment Company&#39;s Stock Instead

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	Stripe Inc co-founders Patrick and John Collison internally shared their goal of either taking the company public or allowing employees to sell shares in a private-market transaction within the next 12 months.


Payments Processor Stripe Harbors IPO Ambitions

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Reported Earlier, Thoughtworks And AI Singapore Team Up To Advance Reliability Of AI And Its Adoption

U.K.-based fintech company&nbsp;Revolut&nbsp;has called on Mark Zuckerberg-led&nbsp;Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) to help cover the costs of reimbursing victims of fraud.
What Happened: On Thursday, Woody Malouf, Revolut&#8217;s head of financial crime, dismissed Meta&#8217;s initiative to &#8220;launch a data-sharing partnership with U.K. banks and financial institutions to prevent fraud,&#8221; calling it insufficient.
Malouf argued that tech platforms like Meta bear&nbsp;no responsibility in reimbursing victims,&nbsp;thus lacking incentive to tackle the issue.
&#8220;These platforms share no responsibility in reimbursing victims, and so they have no incentive to do anything about it. A commitment to data sharing, albeit needed, simply isn't good enough,&#8221; he stated.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/41086806/elon-musk-mocks-vinod-khosla-after-openai-investor-mixes-up-argentinas-poverty-and-unemployment-rate?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Mocks Vinod Khosla After OpenAI Investor Mixes Up Argentina&#8217;s Poverty And Unemployment Rates To Draw Parallels Between Javier Milei And Trump: &#8216;Vinod Is Just Actually Not Smart&#8217;</a>
According to a new report from Revolut released on the same day, 69% of scams reported by U.K. customers in the first half of this year originated from Meta platforms, including Facebook and Instagram.
This marked an increase from 67% in the second half of last year.
&#8220;We are confident in the steps the UK government is taking to tackle fraud, but what is urgently needed now is for Meta and other social media companies to commit to supporting victims of fraud in the same way financial institutions do. Their silence on this issue says it all,&#8221; said Malouf.
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 is not the first time Meta has faced criticism for its role in fraud cases.
Earlier this year,&nbsp;<a href="https://www.benzinga.com/news/24/03/37554106/facebook-and-instagrams-marketplace-practices-under-ftc-radar-in-south-korea-for-user-safety-slip-up">South Korea&#8217;s antitrust watchdog</a> considered sanctions against Meta&nbsp;due to alleged shortcomings in consumer protection on its online marketplaces.
In December 2022,&nbsp;Zuckerberg was sued&nbsp;for his platform&#8217;s role in a <a href="https://www.benzinga.com/markets/cannabis/22/12/29991373/mark-zuckerberg-sued-for-aiding-and-abetting-aggravated-marijuana-investment-fraud">marijuana investment scheme</a>.
As the internet continues transforming society and how people interact,&nbsp;<a href="https://www.benzinga.com/markets/emerging-markets/22/07/28111725/the-rise-of-trust-and-safety-on-social-media-platforms-and-marketplaces">trust and safety on social media platforms</a> and marketplaces&nbsp;have become increasingly important.
Check out more of Benzinga&#8217;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 Shuttestock
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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.

Social Media

Mark Zuckerberg's Meta Asked To Foot The Bill Partly In Fraud Cases By UK Fintech: 'These Platforms Share No Responsibility'

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Molecular Partners' Novel CD3 Switch-DARPin Platform To Be Highlighted At SITC 2024 With Proof-Of-Concept Data

El Salvador President Nayib Bukele discussed the country's Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)-centric policy with Argentina Vice President Victoria Villaruel during a recent official visit.
What happened: A video reposted by the vice president on X showed the two leaders sitting on the opposite side of a table, with Villaruel greeting Bukele on his visit to Argentina.
A translated excerpt from the interaction quoted Villaruel as saying, "I want to take this short opportunity to ask you about Bitcoin."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f7e0; Vice president of &#x1f1e6;&#x1f1f7;Argentina &quot;Victoria Villaruel&quot; talks about Bitcoin and Volcano bonds with <a href="https://twitter.com/nayibbukele?ref_src=twsrc%5Etfw">@nayibbukele</a> h/t <a href="https://twitter.com/Bitcoinsearch?ref_src=twsrc%5Etfw">@Bitcoinsearch</a>, <a href="https://twitter.com/AnonimoSV503?ref_src=twsrc%5Etfw">@AnonimoSV503</a> <a href="https://t.co/WJxXqYTQLR">pic.twitter.com/WJxXqYTQLR</a>
&mdash; La Crypta &#x1f9d9;&#x200d;&#x2642;&#xfe0f; (@LaCryptaOk) <a href="https://twitter.com/LaCryptaOk/status/1841182687941574768?ref_src=twsrc%5Etfw">October 1, 2024</a></blockquote>
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The vice president said that Bitcoin was something that she found particularly interesting and expressed a desire to understand El Salvador's Bitcoin bond project.&nbsp;
In response, Bukele said he would be happy to talk about the several Bitcoin-focused initiatives taken by his administration.
Later, the Argentine vice president posted a photo of the meeting on X, revealing that the two leaders talked about Bitcoin implementation and the creation of the National Commission of Digital Assets, the regulatory authority overseeing the digital assets ecosystem in El Salvador.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Visita del Presidente de El Salvador <a href="https://twitter.com/nayibbukele?ref_src=twsrc%5Etfw">@nayibbukele</a> al Senado de la Nación Argentina. Pudimos conversar sobre la implementación del Bitcoin, la creación de la CNAD (Comisión Nac. de Activos Digitales) que es el primer organismo que da marco legal y regulación a los criptoactivos. <a href="https://t.co/W48VhwpGDA">pic.twitter.com/W48VhwpGDA</a>
&mdash; Victoria Villarruel (@VickyVillarruel) <a href="https://twitter.com/VickyVillarruel/status/1841243336763719874?ref_src=twsrc%5Etfw">October 1, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41172369/bitcoin-not-a-safe-haven-but-rising-trump-odds-could-fuel-a-rally-standard-chartered">Bitcoin &#8216;Not A Safe Haven&#8217; But Rising Trump Odds Could Fuel A Rally: Standard Chartered</a>
Why It Matters: The meeting held significance considering the pro-Bitcoin sentiment espoused by the leaders of the two countries.
El Salvador has been the pioneer in Bitcoin adoption, becoming the first country to use the apex cryptocurrency as a legal tender in 2021. Since then, it has taken several measures to make Bitcoin mainstream.
Last year, it <a href="https://www.benzinga.com/markets/cryptocurrency/23/12/36192059/el-salvadors-volcanic-bitcoin-bond-approval-sets-stage-to-build-a-crypto-city">passed a landmark legislation</a> that establishes a legal framework for a Bitcoin-backed bond dubbed "Volcano Bond." The primary purpose of the Volcano Bond is to reduce the country&#8217;s sovereign debt and <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40330518/nayib-bukeles-bitcoin-city-project-in-el-salvador-attracts-1-6b-investment-from-turkey-bas">finance the construction of the proposed "Bitcoin City</a>."
On the other hand, Argentina's Libertarian president Javier Milei has <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39404161/argentina-president-javier-milei-makes-passionate-pitch-for-currency-competition-if-you-wa">praised the scarcity-driven growth model of the apex cryptocurrency</a> and dubbed it a way to return monetary power to people.
However, unlike El Salvador, Argentina has not made any significant progress with Bitcoin during his presidency.&nbsp;
Bitcoin advocates would hope the recent meeting between Bukele and Villaruel might just be the first step in this direction.
Price Action: At the time of writing, Bitcoin was exchanging hands at $61,022.74, down 0.65% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Read Next:&nbsp;
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$BTC

El Salvador's Nayib Bukele Educates Argentina President Javier Milei's Deputy On Bitcoin — Vice President Says Apex Crypto Interests Her A Lot

Macro Economic Events

Econ #s

Economics

Reported Earlier, Australia Home Loans (MoM) For August 0.7% Vs. 2.5% (Revised) Prior

Elon Musk, the CEO of SpaceX and Tesla and the owner of X, has voiced his support for an event, to be held at Butler, Pennsylvania on Saturday, involving former President Donald Trump.
What Happened: Musk shared a post from Trump in which the ex-president posted an image of him at a rally in Butler shortly after having been shot at. The image had text that read &#8220;I&#8217;m Coming Back To Butler!&#8221;
Trump said his visit to the place where the attempted assassination took place on July 13, 2024, was &#8220;historic.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I will be there to support! <a href="https://t.co/nokR0g3dn1">https://t.co/nokR0g3dn1</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1842048755169690103?ref_src=twsrc%5Etfw">October 4, 2024</a></blockquote>
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It&#8217;s worth noting that Trump was the target of a <a href="https://www.benzinga.com/24/09/40869836/donald-trump-safe-and-unharmed-after-shooting-incident-at-florida-golf-club">failed assassination attempt</a> at his Florida golf club on Sept. 15, 2024, as well.
In response to Trump&#8217;s post on X, Musk wrote, &#8220;I will be there to support!&#8221;
See Also: <a href="https://www.benzinga.com/markets/commodities/24/10/41151338/biden-the-master-oil-trader-part-iv-president-loads-up-on-millions-of-barrels-to-refill-emerg?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Biden The Master Oil Trader Part IV? President Loads Up On Millions Of Barrels To Refill Emergency Stash In &#8216;One Of The Best Oil Trades In History&#8217;</a>
Why It Matters: Musk&#8217;s support for Trump comes at a critical time. The former President is currently in a <a href="https://www.benzinga.com/general/politics/24/10/41176806/harris-vs-trump-vice-president-leads-2024-election-poll-young-voters-help-but-voter-issues-could">tight race</a> against Vice President Kamala Harris for the 2024 presidential election. Trump&#8217;s recent experiences, including the failed assassination attempt, have been a focal point in the media, with Musk and Trump even discussing the incidents in a <a href="https://www.benzinga.com/news/24/08/40328821/trump-and-musk-interview-covers-everything-from-failed-assassination-attempt-to-kamala-harriss-no-ta">widely-viewed interview</a>.
Image via Shutterstock
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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>

Politics

General

Trump Says He's Going Back To Butler, Site Of First Assassination Attempt — Elon Musk Chimes In, 'I'll Be There To Support'

YouTube, a subsidiary of 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>) Google has erroneously banned accounts and removed channels worldwide. Now, the platform is working on reinstating them.
What Happened: On Thursday, YouTube said it is aware of the&nbsp;mistakenly&nbsp;removed channels and banned accounts&nbsp;for policy breaches.
The platform is &#8220;actively working on reinstating the&nbsp;channels&#8221; and restoring access to paid services like YouTube TV, YouTube Premium, and YouTube Music subscriptions.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Hi Creators &#8211; We&#39;re aware of an issue causing some channels to be incorrectly flagged for Spam and removed. Our teams are looking into this and reinstating the channels right now &#8211; thanks so much for your patience. More information: <a href="https://t.co/xQ9AFg0woc">https://t.co/xQ9AFg0woc</a>
&mdash; TeamYouTube (@TeamYouTube) <a href="https://twitter.com/TeamYouTube/status/1841978197086245225?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
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See Also:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41149666/nvidias-blackwell-gpu-sets-new-ai-benchmark-with-over-100-system-configurations-ana?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia&#8217;s Blackwell GPU Sets New AI Benchmark With Over 100 System Configurations, Analyst Says</a>
Users affected by this glitch&nbsp;have lost access to their&nbsp;YouTube accounts, preventing them from watching videos or listening&nbsp;to YouTube Music. YouTube Premium&nbsp;subscribers have also been impacted,&nbsp;with playlists and other saved&nbsp;content currently inaccessible for some.
Users across the globe, including in the U.S., Europe, and Asia, were informed of the account ban or channel removal through emails from YouTube.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Did <a href="https://twitter.com/YouTube?ref_src=twsrc%5Etfw">@YouTube</a> just ban all of its users? I had a decade old account that only had unheard music demos on it. And there's a bunch of posts on X that are similar.
&mdash; Lofi Jason (@JasonRumley_) <a href="https://twitter.com/JasonRumley_/status/1841957213105226033?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/TeamYouTube?ref_src=twsrc%5Etfw">@TeamYouTube</a> <a href="https://twitter.com/YouTube?ref_src=twsrc%5Etfw">@YouTube</a> my youtube channel was permanently removed. for no reason. then it got put back up, but 90% of my videos are removed from the platform. i need help. because i dont want any of my hard work to go to waste. <a href="https://t.co/eacYFOoBDH">pic.twitter.com/eacYFOoBDH</a>
&mdash; Juke! (@jukeboxjukee) <a href="https://twitter.com/jukeboxjukee/status/1841972599980503087?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
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Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
YouTube has provided an appeal process for affected users, and several reports indicate that this has been successful in restoring account access. However, some users have reported that their playlists are still missing post-restoration.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Update: They restored my deleted YouTube channel but I am still waiting an explanation on what happened. Apparently I'm not the only one, so it's pretty scary how sudden and quickly your account and channel can be taken down and deleted without warning. I'm really concerned… <a href="https://t.co/7nSjaeqU5v">pic.twitter.com/7nSjaeqU5v</a>
&mdash; Hey Hedgehog! &#x1f994; (@Hey_Hedgehog) <a href="https://twitter.com/Hey_Hedgehog/status/1841989836967969190?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Tonight I received a mail from Youtube saying that my youtube channel was completely deleted because of the serious or repeated violations of the policies about spam, deceptive practices, and fraud policies. Then after 30 minutes they contacted me again apologizing &#x1f605; WHAT?
&mdash; Annie Cyborg (アニー・サイボーグ) (@anniecyborg) <a href="https://twitter.com/anniecyborg/status/1841970508134298003?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
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Why It Matters: This glitch comes on the heels of a series of controversial decisions by YouTube.
Last month, YouTube introduced &#8220;Pause ads,&#8221; a feature that displays advertisements even <a href="https://www.benzinga.com/news/24/09/40951748/there-is-no-escaping-youtube-ads-even-after-hitting-the-pause-button-disgruntled-users-cry-foul-an-a">when a video is paused</a>, leading to users&#8217; discontent.
Later that month, YouTube also restricted access to songs by renowned artists such as Adele, Bob Dylan, and Green Day in the U.S. due to a <a href="https://www.benzinga.com/news/24/09/41085603/youtube-blocks-us-access-to-adele-bob-dylan-songs-amid-rights-dispute-googles-video-platform-respond">legal dispute with the performing rights</a> organization, SESAC.
Meanwhile, earlier this week, Apple Inc. removed Juno, an unofficial YouTube app designed for Vision Pro, from its App Store following a <a href="https://www.benzinga.com/news/24/10/41134764/apple-removes-unofficial-youtube-app-for-vision-pro-from-app-store-developer-disagrees-but-says-zero">warning from Google</a>.
Photo by Sky Motion on Shutterstock
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: 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.

GOOG

GOOGL

YouTube Bug Bans Users And Removes Channels: Google's Video Streaming Service Says They Know About It

Germany is poised to vote against the European Union&#8217;s <a href="https://www.benzinga.com/news/24/09/40810974/us-ally-urges-eu-to-reconsider-tariffs-on-chinese-evs-we-dont-need-another-war">proposed tariffs on Chinese electric vehicles this Friday</a>. This decision comes after significant pressure from industry leaders on German Chancellor Olaf Scholz.
What Happened: Germany had previously abstained from a non-binding vote in July concerning the European Commission&#8217;s tariff proposal. The Commission&#8217;s plan requires a qualified majority of 15 EU member states, representing 65% of the EU population, to be implemented, Reuters reported on Friday, citing people with knowledge of the matter. 
France, Greece, Italy, and Poland are reportedly in favor of the tariffs, which could push the measure through.
The Commission argues that the tariffs are necessary to counteract subsidies such as cheap loans and raw materials, aiming for a level playing field rather than excluding Chinese manufacturers. 
However, German carmakers, who derive a significant portion of their sales from China, oppose the tariffs due to fears of retaliatory actions and potential trade conflicts.
The influential German labor union IG Metall and employee representatives from major car manufacturers have issued a joint statement urging Germany to vote against the tariffs, stating, &#8220;tariffs are the wrong approach because they will not improve the competitiveness of the European automotive industry.&#8221;
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has been granted provisional approval by <a href="https://www.benzinga.com/news/24/07/39640029/teslas-giga-berlin-expansion-gets-environmental-authority-approval-after-chancellor-scholz-voiced-ai">German authorities to expand its Gigafactory</a> near Berlin, a key move that underscores Tesla&#8217;s growing presence in Europe&#8217;s EV market. 
The German Automotive Industry Association (VDA) reports that 1.27 million battery electric and plug-in hybrid vehicles were manufactured in Germany in 2023, making it the second-largest EV producer globally, behind China. 
Although China dominates global EV output, most of its vehicles are sold domestically, whereas 76% of German EVs are exported, highlighting Germany&#8217;s pivotal role in the international EV market.
Germany&#8217;s carmakers are renowned for their engineering excellence, with brands like Volkswagen (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>), which owns ŠKODA, SEAT, CUPRA, Audi, Lamborghini, Bentley, and Porsche; Mercedes-Benz Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MBGAF#OTC">MBGAF</a>); and Bayerische Motoren Werke AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>), which owns BMW, MINI, and Rolls-Royce. 
See Also: <a href="https://www.benzinga.com/news/24/10/41161763/european-telecom-giants-threaten-legal-action-against-elon-musks-starlink-over-potential-fcc-rule-ch?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">European Telecom Giants Threaten Legal Action Against Elon Musk&#8217;s Starlink Over Potential FCC Rule Changes</a>
Why It Matters: The European Union&#8217;s decision on tariffs for Chinese electric vehicles has been a contentious issue, with potential repercussions for international trade. The EU aims to protect its automobile industry from the influx of cheaper Chinese EVs, which <a href="https://www.benzinga.com/news/24/10/41143690/european-tariffs-on-chinas-ev-makers-could-backfire">accounted for 54% of total EV imports</a> to the EU in 2023.
However, this protectionist stance could spark a broader trade war with China, jeopardizing the EU&#8217;s export-dependent companies and its EV targets.
China has already approached the World Trade Organization regarding similar tariffs imposed by Canada, highlighting the potential for <a href="https://www.benzinga.com/news/24/09/40914629/china-warns-eu-tariffs-on-evs-will-harm-trade-with-germany">escalating trade tensions</a>. China&#8217;s commerce minister has warned that the EU&#8217;s tariffs could significantly disrupt trade, particularly with Germany. 
Additionally, Spain&#8217;s Prime Minister Pedro Sánchez has called for a <a href="https://www.benzinga.com/news/24/09/40810974/us-ally-urges-eu-to-reconsider-tariffs-on-chinese-evs-we-dont-need-another-war">reevaluation of the EU&#8217;s stance</a>, emphasizing the need for compromise to avoid further trade disputes.
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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.

Eurozone

BMWYY

MERCEDES BENZ GROUP AG by Mercedes Benz Group AG

MBGAF

TSLA

VWAGY

Germany, Home To Mercedes And BMW, Set To Oppose EU Tariffs On Chinese EVs: Report

Renowned economist Peter Schiff scoffed at Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) HODLers for being oblivious to the impending bear market.
What Happened: On Thursday, the staunch Bitcoin critic took to X to highlight the leading cryptocurrency&#8217;s decline against gold—an asset Schiff vehemently advocates for.
&#8220;For now, Bitcoin is holding $60,000 support. More significantly, it&#8217;s down 40% priced in gold since hitting its record high just under 3 years ago,&#8221; Schiff remarked.
He urged Bitcoin investors to &#8220;Wake up, and smell the bear market.&#8221; He used the famous &#8220;frog in a boiling water&#8221; theory to ridicule them, asking, &#8220;How much longer will you let the water temperature rise before jumping out of the pot?&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">For now, <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is holding $60K support. More significantly, it&#39;s down 40% priced in <a href="https://twitter.com/hashtag/gold?src=hash&amp;ref_src=twsrc%5Etfw">#gold</a> since hitting its record high just under 3 years ago. Wake up, and smell the bear market, <a href="https://twitter.com/hashtag/HODLers?src=hash&amp;ref_src=twsrc%5Etfw">#HODLers</a>. How much longer will you let the water temperature rise before jumping out of the pot?
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1841894299685748926?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">Schiff has a knack for comparing Bitcoin in gold&#8217;s terms, rather than the dollar. While the apex cryptocurrency has indeed retraced this week owing to geopolitical tensions, year-to-date it was still up 44%, compared to spot gold&#8217;s 29% rise.</figcaption></figure>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41163698/grammy-nominated-rapper-logic-invested-6m-in-bitcoin-nearly-4-years-ago-this-is-how-much-h?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Grammy-Nominated Rapper Logic Invested $6M In Bitcoin Nearly 4 Years Ago: This Is How Much His Stash Would Be Worth Today</a>
Why It Matters: Schiff&#8217;s comments follow a series of similar hot takes on Bitcoin&#8217;s underperformance vis-à-vis gold&#8217;s growth.
Last week, he pointed out that gold had reached another record high, but the <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40994964/peter-schiff-isnt-pleased-with-markets-bitcoin-obsession-while-gold-is-touching-record-hig">significance of this rise has been overlooked</a> due to the overwhelming focus on Bitcoin.
In fact, Schiff <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41059769/peter-schiff-wants-to-know-if-bitcoin-fans-really-care-about-king-crypto-underperforming-g">added an X poll to ascertain if Bitcoin investors were worried</a> about the leading cryptocurrency&#8217;s declining value against gold. Interestingly, more than 75% voted that they were not worried, while just about 22% hinted that they were concerned.
Price Action: At the time of writing, Bitcoin was exchanging hands at $60,941.26, down 0.43% 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: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41177884/mark-cuban-an-ardent-kamala-harris-supporter-isnt-keen-on-elizabeth-warren-as-he-is-on-her">Mark Cuban, An Ardent Kamala Harris Supporter, Isn&#8217;t Keen On Elizabeth Warren As He Is On Her Pro-Crypto GOP Rival: Here&#8217;s Why</a></li>
</ul>

Peter Schiff Compares Bitcoin Investors To Frogs On The Boil: 'How Much Longer Will You Let The Water Temperature Rise Before Jumping Out Of The Pot?'

Leading cryptocurrencies moved sideways Thursday as investors awaited <a href="https://www.benzinga.com/trading-ideas/previews/24/10/41170128/jobs-report-preview-could-september-labor-data-shift-feds-interest-rate-path">key employment data releases</a> to gather insight into the economy&#8217;s health.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:30 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-0.08%</td>
<td>$61,059.00</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>-0.72%</td>
<td>$2,370.40</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>+0.30%</td>
<td>$0.1065</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin wobbled in the $60,000 zone for much of the day before an overnight flourish saw it sail above $61,200.&nbsp;
Ethereum too meandered in the $2,300 region, failing to break above $2,400.
Sentiment has been damp <a href="https://www.benzinga.com/news/global/24/10/41126038/iran-attacks-israel-with-missiles-middle-east-tensions-escalates-s-p-500-stocks-bitcoin-fall-as-oil">since Iran's missile barrage against Israel</a> on Tuesday, with both Bitcoin and Ether correcting significantly, by 4.5% and 9.11%, respectively, since then.
Liquidations continued to bog the market down, with more than $192 million locked in the derivatives market getting erased in the last 24 hours. Upside bets accounted for 74% of the total.
Bitcoin's Open Interest rose 0.85% in the last 24 hours, going against the price drop. This possibly indicated new short positions getting opened.
The coin's Long/Short Ratio also surged to 1.09, indicating a higher number of traders placing bullish bets as compared to those gunning for price declines.
The Cryptocurrency Fear &amp; Greed Index rose from 37 to 41, although the predominant sentiment remained one of "Fear."
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:30 p.m. EDT)</td>
</tr>
<tr>
<td>Aptos (APT)</td>
<td>+7.36%</td>
<td>$8.54</td>
</tr>
<tr>
<td>Monero (XMR)</td>
<td>+4.81%</td>
<td>$143.85</td>
</tr>
<tr>
<td>Stacks (STX)</td>
<td>+4.20%</td>
<td>$1.88</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency stood at $2.12 trillion in the last 24 hours, following a narrow drop of 0.36%.
Stocks slipped during Thursday's trading. The Dow Jones Industrial Average lost 184.93 points, or 0.44%, to end at 42,011.59. The S&amp;P 500 slid 0.17% to close at 5,699.9. The tech-heavy Nasdaq Composite closed 0.04% lower at 17,918.48.
The Dow and S&amp;P 500 were down 7% this week on escalating geopolitical tensions in the Middle East.
Investors also weighed the <a href="https://www.benzinga.com/government/24/10/41164443/us-weekly-jobless-claims-increase-modestly-to-225k">higher-than-expected weekly jobless claims data</a> for the week ending Sept. 28. Participants now await the nonfarm payrolls data, due to be released Friday, to gain a better understanding of the labor market and state of the economy.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Influential cryptocurrency researcher Ali Martinez flagged $60,365 as a key level to watch out for Bitcoin.
"If BTC breaks below this, we could see a dip to $57,420. But if BTC holds, a rebound to $63,300 is on the table," the analyst remarked.
<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">Key <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> level to watch: $60,365! If <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> breaks below this, we could see a dip to $57,420. But if <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> holds, a rebound to $63,300 is on the table. All eyes on $60,365! &#x1f440;&#x1f440;&#x1f440;&#x1f440;&#x1f440; <a href="https://t.co/2bDJVLWBtI">pic.twitter.com/2bDJVLWBtI</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1841882152528486606?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Widely-followed cryptocurrency analyst Michaël van de Poppe believed Bitcoin correcting in the first week of October is "relatively standard" due to the release of unemployment numbers.&nbsp;
"We expect to reverse from next week, through which dips are for buying!" he forecasted.
<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/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is correcting in the first week of October. It&#39;s relatively standard, as it&#39;s unemployment week. We expect to reverse from next week, through which dips are for buying! <a href="https://t.co/5QifVoMW62">pic.twitter.com/5QifVoMW62</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1841855734361030783?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by CMP_NZ on Shutterstock
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Bitcoin, Ethereum, Dogecoin Stay Muted As Investors Brace For September Jobs Report — Analyst Says Unemployment Week Drop Standard For King Crypto: 'Dips Are For Buying!'

On Thursday, U.S. markets saw losses, with the Dow Jones Industrial Average falling 0.4% to 42,011.59, the S&amp;P 500 closing down almost 0.2% at 5,699.94, and the NASDAQ slipping 0.04% to end at 17,918.48.
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 shares rose 4.67% to close at $39.24, with an intraday high and low of $39.29 and $37.37 respectively. The stock&#8217;s 52-week high and low stand at $39.29 and $14.48. The company&#8217;s co-founder, Peter Thiel, recently completed selling the maximum number of shares under a trading plan he initiated in May. Additionally, Palantir announced a <a href="https://www.benzinga.com/news/24/10/41167646/whats-going-on-with-palantir-stock-today">strategic partnership</a> with Edgescale AI to enhance AI operations in various industrial sectors.
Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)
Amazon&#8217;s stock fell 1.52% to close at $181.96. The shares hit an intraday high of $183.44 and a low of $180.88. The 52-week high and low are $201.2 and $118.35 respectively. The company is reportedly set to <a href="https://www.benzinga.com/general/entertainment/24/10/41162458/amazon-ceo-andy-jassy-said-prime-video-will-have-meaningfully-fewer-ads-than-rivals-2-month">increase the number of advertisements</a> on its Prime Video platform starting next year as part of its broader strategy to enhance its ad-supported streaming services.
Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)
Meta&#8217;s shares increased 1.74% to close at $582.77, with an intraday high and low of $583.36 and $568.73 respectively. The stock&#8217;s 52-week high and low are $583.36 and $279.4. The social media company has <a href="https://www.benzinga.com/news/24/10/41176448/mark-zuckerbergs-facebook-paid-2b-to-content-creators-in-the-past-year-and-it-wants-to-pay-out-more">paid out over $2 billion</a> to content creators this year as it works to boost monetization efforts for users of the platform.
Spirit Airlines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>)
Spirit Airlines&#8217; stock dipped 3.45% to close at $2.24. The shares hit an intraday high of $2.43 and a low of $2.22. The 52-week high and low are $17.49 and $2.22 respectively. The budget airline is reportedly in discussions with bondholders regarding the terms of a potential <a href="https://www.benzinga.com/markets/equities/24/10/41178053/spirit-airlines-engages-in-bankruptcy-talks-amid-financial-struggles-report">bankruptcy filing</a> following a failed merger with JetBlue Airways Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>).
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s shares fell 3.35% to close at $240.67. The shares hit an intraday high of $249.79 and a low of $237.81. The 52-week high and low are $271 and $138.8 respectively. The electric vehicle maker returned to growth with <a href="https://www.benzinga.com/general/education/24/10/41166723/how-many-evs-has-tesla-delivered-produced-each-quarter-a-look-at-the-results-since-2019">third-quarter delivery figures</a> showing a year-over-year increase from the prior year.
Photo by WHYFRAME on Shutterstock
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> 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>

AMZN

JBLU

PLTR

SAVE

Palantir, Amazon, Meta, Spirit Airlines, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Spirit Airlines Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) is reportedly in discussions with bondholders regarding the terms of a potential bankruptcy filing. The budget airline is exploring restructuring options <a href="https://www.benzinga.com/news/24/03/37455281/jetblue-spirit-airlines-shares-are-moving-monday-whats-going-on">following a failed merger</a> with JetBlue Airways Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>).
What Happened: Spirit is considering a Chapter 11 filing as it grapples with significant financial challenges. The airline is also looking into restructuring its balance sheet through an out-of-court transaction, <a href="https://www.wsj.com/articles/spirit-airlines-in-talks-with-bondholders-over-terms-of-potential-bankruptcy-filing-fdd23fae">reported</a> The Wall Street Journal on Thursday, citing people familiar with the matter.
However, according to the report, recent discussions have primarily focused on securing an agreement with bondholders and creditors to support a bankruptcy filing. 
Spirit is facing mounting pressure due to its $3.3 billion debt load, which includes over $1.1 billion in secured bonds maturing within a year. The airline must refinance or extend these notes by Oct. 21, as per its credit card processor&#8217;s deadline. 
CEO Ted Christie mentioned in August that the company is in active discussions with bondholders&#8217; advisers to address these maturities.
&#8220;Before we get into the results, I want to note that we are engaged in productive conversations with the advisors of our bondholders to address the upcoming debt maturities. Because those conversations are ongoing, we are not going to go into detail or take any questions on this topic or speculate on potential outcomes. Needless to say, it is a priority, and we are focused on securing the best outcome for the business as quickly as possible, while staying focused on driving performance and implementing our new travel options and elevated guest experience," Christie said in the August earnings call. 
Spirit&#8217;s financial woes have been exacerbated by its inability to turn an annual profit since before the COVID-19 pandemic. The airline&#8217;s operational footprint is shrinking, with plans to reduce capacity by nearly 20% in the fourth quarter. 
Additionally, Spirit has been affected by the recall of Pratt &amp; Whitney engines, grounding part of its fleet and leading to pilot furloughs.
See Also: <a href="https://www.benzinga.com/news/24/09/41087674/openais-searchgpt-set-to-disrupt-googles-search-empire-as-former-engineer-sounds-alarm-on-deteriorat?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">OpenAI&#8217;s SearchGPT Set To Disrupt Google&#8217;s Search Empire As Former Engineer Sounds Alarm On Deteriorating User Experience Amid Rising Competition</a>
Why It Matters: The potential bankruptcy filing by Spirit Airlines comes in the wake of a <a href="https://www.benzinga.com/news/24/03/37455281/jetblue-spirit-airlines-shares-are-moving-monday-whats-going-on">terminated merger agreement</a> with JetBlue Airways. 
The two companies had initially planned a merger valued at $3.8 billion, which was expected to create a strong low-fare competitor in the airline industry. However, the merger was called off in March due to unmet conditions, impacting Spirit&#8217;s strategic plans. 
Meanwhile, JetBlue has been focusing on its turnaround strategy, bolstered by <a href="https://www.benzinga.com/news/24/09/40779100/air-travel-demand-and-lower-fuel-costs-to-propel-jetblues-turnaround-analyst-upgrades-stock">rising air travel demand and lower fuel costs</a>. Analysts have upgraded JetBlue&#8217;s stock, projecting a significant liquidity position by 2026.
Spirit Airlines has also <a href="https://www.benzinga.com/news/24/07/40043751/whats-going-on-with-spirit-airlines-stock">faced regulatory challenges</a>, such as a temporary block on a rule requiring airlines to disclose fees upfront. This legal development briefly boosted Spirit&#8217;s stock in July.
Price Action: Spirit Airlines Inc. stock closed at $2.24 on Thursday, down 3.45% for the day. In after-hours trading, the stock plummeted by 30.38% to $1.56. Year to date, Spirit Airlines has fallen significantly, down 86.30%.
Meanwhile, JetBlue Airways Corporation ended the day at $6.39, down 2.74%. In after-hours trading, the stock rose by 4.85%. Year to date, JetBlue has gained 21.25%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
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Photo via Wikimedia Commons
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>

Spirit Airlines Engages In Bankruptcy Talks Amid Financial Struggles: Report

After securing a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41175197/openais-latest-eye-popping-valuation-ignites-analyst-expectations-for-tidal-wave-of">whopping $6.6 billion funding</a> round, ChatGPT-parent&nbsp;OpenAI has bagged a&nbsp;$4 billion revolving credit line.
What Happened: The new credit facility will bolster its liquidity to $10 billion, allowing the AI startup to invest in high-cost <a href="https://www.benzinga.com/markets/equities/24/07/39856365/openai-in-talks-with-broadcom-to-develop-new-ai-chip-aims-to-reduce-reliance-on-nvidia-report">computing capacity</a> including Nvidia Corporation&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) chips.
&#8220;This credit facility further strengthens&nbsp;our balance sheet and provides&nbsp;flexibility to seize future growth&nbsp;opportunities,&#8221; said OpenAI CFO&nbsp;Sarah Friar, in a blog on Thursday.
The credit line is facilitated by a consortium of banks: JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Citigroup, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), Banco Santander S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAN#NYSE">SAN</a>), Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), Sumitomo Mitsui Banking&nbsp;Corporation, UBS Group AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>), and HSBC Holdings plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSBC#NYSE">HSBC</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: Earlier this week, OpenAI, <a href="https://www.benzinga.com/news/24/10/41149788/openai-valuation-soars-to-157b-in-latest-funding-round">valued at nearly $157 billion</a>, raised funds&nbsp;from returning venture capital investors&nbsp;such as&nbsp;Thrive Capital and Khosla Ventures.
Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), which has already invested approximately $13 billion into the AI firm over the last five years,&nbsp;and new investor Nvidia, also&nbsp;participated in the funding round.
Despite <a href="https://www.benzinga.com/news/24/09/41059344/sam-altman-hits-back-at-trolls-after-mira-muratis-openai-exit-explains-executive-drain-as-natural-we">major executive changes</a>, including the sudden exit of CTO Mira Murati, investors remain optimistic about OpenAI&#8217;s growth prospects.
However, OpenAI has also faced criticism from Elon Musk, who accused the company of&nbsp;<a href="https://www.benzinga.com/news/24/10/41156902/elon-musk-says-openai-is-evil-after-chatgpt-parent-reportedly-asked-investors-not-to-invest-in-rival">unfair funding practices</a>.
On the other hand, analysts expect a &#8220;tidal wave&#8221; of AI spending, with OpenAI&#8217;s latest valuation seen as a trigger for this growth stage.
Photo Courtesy: Shutterstock
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: 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.

HSBC

MSFT

NVDA

OpenAI Secures $4B Credit Line To Supercharge AI Ambitions And Expand Nvidia-Powered Infrastructure: 'Provides Flexibility To Seize Future Growth Opportunities'

Sen. Bernie Sanders (I-Vt.), on Thursday, praised the 50,000 port workers who successfully <a href="https://www.benzinga.com/news/24/10/41177060/port-strike-ends-workers-return-to-work-friday">secured a significant wage increase</a> following their strike against the shipping industry&#8217;s &#8220;outrageous corporate greed.&#8221;
What Happened: The Vermont senator attached a statement in solidarity with port workers in his post on X. He said, &#8220;Billionaires in the shipping industry must not be allowed to get even richer by replacing port workers with robots.&#8221;
In his statement, he praised the workers for putting their &#8220;lives on the line&#8221; during the COVID-19 pandemic and keeping the economy going. He noted that the shipping industry saw its profits skyrocket by as much as 800 percent and has made a record-breaking $400 billion in profits since 2020.
He noted that over the past 20 years, average wages for port workers along the East Coast have declined by nearly 12% after adjusting for inflation. He said the strike was not only about wages but it was also about making sure that the CEOs and billionaire class are not able to use the &#8220;incredible advancements&#8221; in new technology, automation and AI as a tool to impoverish the working class.
&#8220;Workers must benefit from the revolution in new technology, not just the one percent.&#8221;
Sanders also praised Acting Secretary of Labor Julie Su who the senator said did a &#8220;great job negotiating a tentative agreement to increase the wages of port workers by 62% over six years.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Let me also congratulate our <a href="https://twitter.com/ActSecJulieSu?ref_src=twsrc%5Etfw">@ActSecJulieSu</a>, who did a great job negotiating a tentative agreement to increase the wages of port workers by 62% over six years.
&mdash; Bernie Sanders (@SenSanders) <a href="https://twitter.com/SenSanders/status/1842004043268522385?ref_src=twsrc%5Etfw">October 4, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/general/politics/24/09/41079936/shaq-called-trump-a-straight-up-guy-before-presidency-i-think-he-just-says-it-wrong-but-did-the-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shaq Called Trump &#8216;A Straight-Up Guy&#8217; Before Presidency, &#8216;I Think He Just Says It Wrong&#8217; – But Did The NBA Legend Actually Vote For Trump In 2016?</a>
Why It Matters: The port workers&#8217; strike on the East and Gulf coasts came to an end after a tentative agreement was reached between the dockworkers and port operators, according to a prior Benzinga report.
This resolution averted a potential disruption to supply chains. The agreement, which includes a substantial wage increase and improved working conditions, addressed the key demands of the International Longshoremen&#8217;s Association. 
The Wall Street Journal reported a 62% increase in wages over six years. The contract extension through January 15, 2025, allows for further negotiations on other issues, including dock automation.
The strike&#8217;s resolution was <a href="https://www.benzinga.com/news/24/10/41177525/biden-praises-end-of-port-strike-highlights-importance-for-hurricane-helene-recovery-collective-barg">met with approval</a> from President Joe Biden, who has been a vocal supporter of the striking workers. 
The International Longshoremen&#8217;s Association revealed that the U.S. Maritime Alliance, a group of companies operating East and Gulf Coast ports, agreed to a pay rise for port workers. As a result, union members are set to return to work immediately. This agreement is significant for the shipping industry, as it demonstrates the power of collective bargaining in securing better working conditions and wages for workers.
During the strike, analysts at Morgan Stanley warned that a prolonged strike could <a href="https://www.benzinga.com/news/24/10/41159016/port-strike-enters-day-3-economist-warns-of-meaningful-impact-if-standoff-prolongs-food-beverages-li">hurt economic growth and boost inflation</a>. However, the swift resolution of the strike has likely averted these potential economic impacts.
Image via Shutterstock
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Bernie Sanders Congratulates Port Workers After Strike Ends: Billionaires In Shipping Industry 'Must Not Be Allowed To Get Even Richer By Replacing Workers With Robots'

Billionaire investor and television celebrity Mark Cuban has thrown his support behind Republican Senate hopeful John Deaton, who is running against anti-cryptocurrency crusader Sen. Elizabeth Warren (D-Mass.).
What happened: Cuban, a long-standing critic of Warren's stance toward the industry, minced no words in saying that he wasn't a fan of the senior senator, while featuring on the All-In Podcast.
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Though acknowledging Warren's concerns about the potential wrongful use of cryptocurrencies, Cuban said that she just wants to &#8220;throw the baby out with the bath water."
In contrast, Cuban said that Deaton has been known to be a cryptocurrency advocate, and he was impressed by the attorney's "background" and "character."
"So even before he got through his hat in his ring, I was talking to him, supporting him, giving him feedback, and helping him," Cuban revealed.&nbsp;
Cuban, who has <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41032465/mark-cuban-is-one-of-kamala-harris-most-effective-surrogates-says-former-sc-house-rep-baka">backed </a>Kamala Harris in the ongoing election season,&nbsp;said that he is not a Democrat and has no political bias. "I think John Deaton will be better for the country and better for the citizens of Massachusetts than Elizabeth," he added.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41149446/crypto-whale-dumped-46-million-btc-as-geopolitical-tensions-rise-what-is-going-on">Crypto Whale Dumped $46 Million BTC As Geopolitical Tensions Rise: What Is Going On?</a>
Why It Matters: Cuban's admiration for Deaton is not new. After he won the Republican nomination for Senate in Massachusetts's primary election, Cuban congratulated him, saying, "Only 1 W to go!"
The friendliness has been reciprocal, with <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41039204/mark-cuban-and-anthony-scaramuccis-stance-against-gary-gensler-earns-appreciation-from-eli">Deaton last week praising Cuban&#8217;s efforts</a> to oppose SEC Chair Gary Gensler and Warren&#8217;s unfriendly unfriendly cryptocurrency policies.
Deaton's campaign has received significant support from the cryptocurrency industry. Tyler and Cameron Winklevoss, co-founders of the cryptocurrency exchange Gemini, <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39852340/elizabeth-warrens-opponent-gets-a-1m-donation-in-bitcoin-from-winklevoss-twins-spent-the-l">donated $1 million</a> in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) to the attorney earlier in July.
Image via Shutterstock
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Mark Cuban, An Ardent Kamala Harris Supporter, Isn't Keen On Elizabeth Warren As He Is On Her Pro-Crypto GOP Rival: Here's Why

Berkshire Hathaway&#8217;s legendary late vice chairman, Charlie Munger, has repeatedly lauded the entrepreneurial prowess of late Rose &#8220;Mrs. B&#8221; Blumkin, the founder of Nebraska Furniture Mart.
What Happened: Blumkin established Nebraska Furniture Mart in 1937, which later evolved into one of North America&#8217;s largest home furnishing stores. Berkshire Hathaway purchased <a href="https://www.benzinga.com/general/education/18/08/12284542/this-day-in-market-history-warren-buffett-buys-nebraska-furniture-m">Nebraska Furniture Mart in 1983</a>.
Both Munger and Warren Buffett have frequently spoken about Blumkin&#8217;s influence on the company&#8217;s culture and philosophy.
In a 2017 interview, Munger fondly remembered her and said that despite her inability to read or write in English, she could perform complex mental arithmetic.
See Also: <a href="https://www.benzinga.com/news/earnings/24/10/41137481/nasdaq-s-p-futures-sag-as-downside-risks-intensify-oil-spikes-nike-slides-why-this-strategist-is-ex?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nasdaq, S&amp;P Futures Sag As Downside Risks Intensify, Oil Spikes, Nike Slides: Why This Strategist Is Expecting &#8216;Stronger&#8217; Second-Half Of October</a>
Munger also shared a light-hearted story about Blumkin&#8217;s work ethic, revealing that she would call her sons &#8220;bums&#8221; if they worked less than 100 hours a week, even after they had become wealthy.
&#8220;She was a very bossy, domineering, hard-working woman, and she worked herself 100 hours a week,&#8221; he recalled fondly.
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Why It Matters: Blumkin moved to the U.S. in her early twenties from Russia and started Nebraska Furniture Mart with a $500 loan from her brother. Mrs. B also invested her savings.
The acquisition of Nebraska Furniture Mart by Berkshire Hathaway in 1983 was a <a href="https://www.benzinga.com/general/24/02/37162489/warren-buffett-purchased-a-business-for-60-million-that-was-started-with-just-a-500-investment-the-f">significant milestone</a> in the company&#8217;s history.
Buffett considered the deal one of the best of his career, <a href="https://www.businessinsider.in/why-warren-buffett-considers-the-deal-he-made-with-an-89-year-old-woman-one-of-the-best-of-his-career/articleshow/47124170.cms">reported</a> Business Insider. &#8220;spiring business managers should look hard at the plain, but rare, attributes that produced Mrs. B&#8217;s incredible success,&#8221; he wrote in a 2013 letter to Berkshire&#8217;s shareholders.
Adding, &#8220;If they absorb Mrs. B&#8217;s lessons, they need none from me.&#8221;
Mrs. B passed away at the age of 104, but her legacy remains deeply ingrained in her family&#8217;s business.
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Charlie Munger Once Spoke About Mrs. B — The Matriarch Who Even Buffett Admitted Outshone Him In Wisdom: She Built A Successful Business That Made Her Filthy Rich With A $500 Loan And Hard Work

Former Wyoming Republican Representative Liz Cheney publicly endorsed Democratic presidential nominee Kamala Harris at a campaign rally in Ripon, Wisconsin, on Thursday, as reported by <a href="https://thehill.com/homenews/campaign/4915135-liz-cheney-kamala-harris-campaign/">The Hill</a>.
What Happened: Cheney, who was ousted from her party due to her criticism of former President Donald Trump, introduced Harris at the rally and urged Americans to be willing to cross party lines. Cheney&#8217;s endorsement of Harris is part of a broader effort by the Harris campaign to reach across the aisle to voters disillusioned by Trump.
&#8220;I ask you to stand in truth, to reject the depraved cruelty of Donald Trump and I ask you instead to help us elect Kamala Harris for president,&#8221; said Cheney.
&#8220;I know that she can be a president that can inspire our children… and especially our little girls to do great things.&#8221;
Cheney&#8217;s public endorsement of Harris is the most high-profile GOP support the vice president has received so far, aiding in the campaign&#8217;s outreach to Bush-era Republicans and supporters of former South Carolina Gov. Nikki Haley.
See Also: <a href="https://www.benzinga.com/news/24/10/41157285/elon-musks-mom-chimes-in-after-son-says-he-cant-handle-4-years-of-seeing-and-hearing-kamala-harris-a?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s Mom Chimes In After Son Says He Can&#8217;t Handle 4 Years Of &#8216;Seeing And Hearing&#8217; Kamala Harris And Tim Walz: &#8216;So True&#8217;</a>
Why It Matters: Cheney&#8217;s endorsement comes after she <a href="https://www.benzinga.com/news/24/04/38356833/liz-cheney-says-trump-doing-everything-possible-to-postpone-jan-6-case-beyond-election-deep-flaws-in">voiced her criticism</a> of Trump&#8217;s efforts to delay the Jan. 6 case beyond the election, as reported in April. Cheney served as the chairwoman of the House select committee that probed the Jan. 6 insurrection.
In September 2024, Cheney publicly <a href="https://www.benzinga.com/news/24/09/40722256/liz-cheney-says-i-will-be-voting-for-kamala-harris-in-2024-presidential-election-cites-trumps-danger">declared her support</a> for Harris in the upcoming election, citing Trump&#8217;s danger to the republic. This was <a href="https://www.benzinga.com/news/24/09/40758275/former-vice-president-dick-cheney-backs-kamala-harris-says-trump-is-a-greater-threat-to-our-republic">followed</a> by former Vice President Dick Cheney&#8217;s endorsement of Harris.
With the 2024 presidential election heating up, Harris is <a href="https://www.benzinga.com/general/politics/24/10/41176806/harris-vs-trump-vice-president-leads-2024-election-poll-young-voters-help-but-voter-issues-could">leading in the polls</a>. Cheney&#8217;s endorsement could potentially sway more GOP voters towards Harris, further intensifying the race.
Photo by Jerome460 on Shutterstock
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Liz Cheney Introduces Harris At Wisconsin Rally, Asks Voters To Stand In Truth: 'Reject The Depraved Cruelty Of Donald Trump'

Former United Kingdom Prime Minister Boris Johnson has alleged the discovery of a &#8220;listening device&#8221; in his personal bathroom, subsequent to a visit from Israeli Prime Minister Benjamin Netanyahu in 2017.
What Happened: Johnson, who was serving as a foreign secretary at the time, disclosed in an interview with <a href="https://thehill.com/policy/international/4915059-former-uk-pm-alleges-listening-device/">The Telegraph</a> that the device was unearthed during a routine security sweep. &#8220;Later, when they (security) were doing a regular sweep for bugs, they found a listening device in the thunderbox,&#8221; he revealed.
Further details were withheld by Johnson, who directed readers to his forthcoming book &#8220;Unleashed&#8221; for more information. &#8220;Everything you need to know about that episode is in the book,&#8221; he commented.
As reported by The Telegraph, it is still uncertain whether Israel was confronted or reprimanded about the incident. Around the same time, Israel was suspected of planting surveillance devices near the White House and other sensitive locations in the US capital. &#8220;Washington concluded that Israel was likely behind the placement of cellphone surveillance devices,&#8221; The Telegraph reported.
The Hill has reached out to the Israeli Embassy in London for a comment on the allegations.
See Also: <a href="https://www.benzinga.com/news/24/10/41135574/elon-musk-comments-on-jd-vance-tim-walz-debate-after-user-favors-them-over-trump-and-harris-they-wer?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Comments On JD Vance-Tim Walz Debate After User Favors Them Over Trump And Harris: &#8216;They Were Civil&#8217;</a>
Why It Matters: This allegation comes amidst a backdrop of escalating tensions in the Middle East. In September, the <a href="https://www.benzinga.com/news/24/09/41107804/israeli-military-begins-limited-operation-against-hezbollah-in-southern-lebanon-military-says-target">Israeli military initiated a localized operation against Hezbollah targets in southern Lebanon</a>. 
This was followed by <a href="https://www.benzinga.com/news/global/24/10/41126038/iran-attacks-israel-with-missiles-middle-east-tensions-escalates-s-p-500-stocks-bitcoin-fall-as-oil">Iran launching a missile attack against Israel</a> in early October, in response to the killing of Hezbollah leader Hassan Nasrallah. 
Israeli Prime Minister Benjamin Netanyahu <a href="https://www.benzinga.com/news/24/10/41133292/netanyahu-promises-retaliation-for-missile-attack-on-israel-iran-responds-by-promising-vast-destruct">promised retaliation against Iran</a> for the missile attack, leading to heightened fears of a broader conflict. 
Amidst these tensions, discussions between the U.S. and Israel<a href="https://www.benzinga.com/government/24/10/41172781/oil-prices-rally-biden-confirms-us-discussions-with-israel-about-striking-iran-facilities"> about a potential attack on Iran&#8217;s oil facilities</a> were confirmed by President Joe Biden.
Photo by Ververidis Vasilis on Shutterstock
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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>

Netanyahu May Have Bugged My Toilet, Says Former UK PM Boris Johnson: 'They Found A Listening Device In The Thunderbox'

President Joe Biden has commended the agreement reached between the International Longshoremen's Association (ILA) and the U.S. Maritime Alliance (USMX), effectively <a href="https://www.benzinga.com/news/24/10/41177060/port-strike-ends-workers-return-to-work-friday">ending a port strike</a> that threatened to disrupt the U.S. economy.
What Happened: The agreement, which was announced on Thursday, was met with approval by President Biden, who has been a staunch supporter of the striking workers. &#8220;Today's tentative agreement on a record wage and an extension of the collective bargaining process represents critical progress towards a strong contract,&#8221; Biden said in a statement, as reported by <a href="https://thehill.com/homenews/administration/4915156-port-strike-end-agreement/">The Hill</a>.
The ILA revealed that the USMX, a group of companies operating East and Gulf Coast ports, agreed to a pay rise for port workers. As a result, union members are set to return to work immediately.
Biden praised all parties involved in the negotiation process, particularly acknowledging the sacrifices made by the ILA dockworkers during the COVID-19 pandemic.
The president said on X that he applauded ILA and USMX coming together to ensure the &#8220;availability of critical supplies for Hurricane Helene recovery and rebuilding.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I applaud the International Longshoremen's Association and the United States Maritime Alliance for coming together to reopen the East Coast and Gulf ports and ensure the availability of critical supplies for Hurricane Helene recovery and rebuilding. Collective bargaining works.
&mdash; President Biden (@POTUS) <a href="https://twitter.com/POTUS/status/1841992882426704101?ref_src=twsrc%5Etfw">October 4, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/24/10/41118749/trump-vs-harris-poll-finds-vice-president-has-energized-this-largest-voting-bloc-as-her-economic-pro?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Harris: Poll Finds Vice President Has Energized This Largest Voting Bloc As Her Economic Proposals Strike A Chord</a>
Why It Matters: The two-day strike had the potential to significantly impact the U.S. economy and posed political challenges for the Biden administration. The end of the strike comes as a relief, as it threatened to disrupt supply chains. 
The agreement includes a substantial wage increase and improved working conditions, addressing the ILA's key demands. According to a <a href="https://www.benzinga.com/news/24/10/41177060/port-strike-ends-workers-return-to-work-friday">Benzinga report</a>, the breakthrough came after port employers offered a 62% increase in wages over six years. 
The agreement also includes a contract extension through Jan. 15, 2025, providing time for the two sides to negotiate other issues, including automation on the docks.
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Cannatrol, a company specializing in post-harvest cannabis processing, partnered with the Cannabis Research Coalition (CRC) to to explore the impact of <a href="https://www.benzinga.com/news/24/09/40941818/how-this-cheese-aging-tech-is-boosting-profits-for-cannabis-growers-stop-throwing-cheddar-out-the-do">vapor pressure stability</a> on cannabis quality.
Research findings reveal how advanced post-harvest drying methods impact cannabis flower quality, focusing on terpene retention and trichome coloration. These independent studies compare various drying techniques and equipment, aiming to expand knowledge on how environmental factors influence cannabis quality.
Cannatrol's proprietary&nbsp;Vaportrol Technology&nbsp;was tested in two independent studies. Findings demonstrated significant improvements in <a href="https://www.benzinga.com/markets/cannabis/23/06/32655486/a-look-at-cannabis-terpenes-myrcene">terpene</a> retention and <a href="https://www.benzinga.com/markets/cannabis/23/04/31806591/what-are-cannabis-trichomes-and-whats-their-importance">trichome</a> integrity when using their post-harvest optimization process.
<h3 class="wp-block-heading">Proven Benefits For Terpene And Trichomes</h3>
<a href="https://www.benzinga.com/news/24/09/40941818/how-this-cheese-aging-tech-is-boosting-profits-for-cannabis-growers-stop-throwing-cheddar-out-the-do">Cannatrol's</a> technology was found to deliver, on average, 16% higher terpene retention compared to traditional drying methods. The CRC's analysis shows that maintaining a stable vapor pressure environment during post-harvest is crucial to protecting trichomes &#8211; the resin glands that house cannabinoids and terpenes.
This stability ensures the preservation of the flower's flavor, potency and overall quality.
According to the research, fluctuating vapor pressure levels can damage trichomes, reducing both the terpene content and the overall effect of the cannabis. By maintaining consistency throughout the drying, curing, and storage phases, Cannatrol's technology prevents these issues, resulting in a better final product for cultivators and consumers alike.
Read Also: <a href="https://www.benzinga.com/news/24/09/40941818/how-this-cheese-aging-tech-is-boosting-profits-for-cannabis-growers-stop-throwing-cheddar-out-the-do">How This Cheese-Aging Tech Is Boosting Profits For Cannabis Growers: Stop Throwing Cheddar Out The Door</a>
<h3 class="wp-block-heading">Advancing Post-Harvest Science</h3>
David Sandelman, Cannatrol's CTO and co-founder, emphasized the importance of educating the cannabis community on scientific post-harvest processes. He highlighted how proper management of vapor pressure results in more flavorful and potent cannabis with a better smokable effect. Cannatrol's all-in-one solution ensures this consistent quality across varying climates and geographic locations, making it a reliable tool for commercial cannabis cultivators.
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The research conducted by the CRC highlights Cannatrol's role in advancing <a href="https://www.benzinga.com/topic/cannabis-research">cannabis science</a>. Dr. Allison Justice, CEO of the CRC, praised the company for contributing to the industry's knowledge of post-harvest processes and its potential to deliver superior cannabis.
"Years of prohibition limited research into this plant, causing the cannabis industry to be fraught with tactics that have no scientific backing," she said.
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<li>Read Next:<a href="https://www.benzinga.com/markets/cannabis/24/09/40885286/just-smoke-the-weed-why-this-physician-in-california-urges-against-cannabis-vaping"> &#8216;Just Smoke The Weed&#8217;: Why This Physician In California Urges Against Cannabis Vaping</a></li>
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Post-Harvest Optimization Technology Consistently Produces Premium-Quality Cannabis, Studies Show

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