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WisdomTree Trust Japan Total Dividend Fund

Japan Industrial Production (MoM) For July 3.1% Vs. 2.8% Est.; -4.2% Prior

Worldcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WLD</a>)&nbsp; and XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) were among the biggest gainers Thursday even as the broader market moved sideways.
What happened: WLD, the native currency of the blockchain-based identity verification project, popped more than 9%, emerging as the best-performing cryptocurrency in the last 24 hours.&nbsp;
The coin's trading volume jumped 86% to $$182 million, reflecting huge demand from investors.&nbsp;
The rally followed the <a href="https://www.benzinga.com/top-stories/24/09/40842891/openai-unveils-o1-model-a-step-closer-to-human-like-ai-but-not-without-flaws">launch of a new model</a>, &nbsp;‘o1', by OpenAI, marking a step toward the company's goal of achieving human-like artificial intelligence. Recall that OpenAI CEO Sam Altman launched the Worldcoin project last year.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40766075/peter-schiff-will-accept-he-was-wrong-about-bitcoin-if-restaurants-begin-to-show-prices-in">Peter Schiff Will Accept He Was Wrong About Bitcoin If Restaurants Begin To Show Prices In Satoshis Among Other Things</a>
Apart from Worldcoin, XRP recorded healthy gains, jumping 4.42% in the last 24 hours. The seventh-largest cryptocurrency was the market's biggest large-cap gainer in this period.
The positive momentum came on the heels of asset management giant Grayscale Investments <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40838951/grayscale-revives-xrp-trust-after-3-year-hiatus">launching a new XRP Trust</a>. The trust aimed to expose accredited investors to the price moves of XRP.
Grayscale dissolved its earlier XRP trust in January 2021 after the <a href="https://www.benzinga.com/markets/cryptocurrency/22/11/29522501/whats-going-on-with-ripple-labs-xrp-heres-what-you-need-to-know">SEC filed a lawsuit</a> against Ripple Labs, the firm using XRP for its product offerings.
Price Action: At the time of writing, WLD was exchanging hands at $1.53, while XRP was valued at $0.562, 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>. 
Photo via Shutterstock
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40825182/anthony-scaramucci-said-last-week-bitcoin-could-touch-up-to-200k-now-hes-thanking-living-l">Anthony Scaramucci Said Last Week Bitcoin Could Touch Up to $200K, Now He&#8217;s Thanking &#8216;Living Legend&#8217; Michael Saylor For Book Foreword</a></li>
</ul>

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$AAVE

$WLD

$XRP

Sam-Altman Founded Worldcoin Soars On OpenAI's o1 Announcement, XRP Rides On Grayscale Trust Launch

Meta Platforms, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) social media platform, Threads, has reportedly been witnessing a rising trend of engagement baiting, a strategy aimed at provoking strong reactions to boost user engagement.
What Happened: Threads&#8217; algorithm has been favoring posts with high comment counts, leading to an increase in engagement baiting.
This tactic, although not new and used on platforms like Reddit, results in a unique social media environment compared to platforms that prioritize likes or shares, <a href="https://www.businessinsider.in/tech/news/rage-bait-is-all-the-rage-on-threads-so-i-tried-it-im-sorry/articleshow/113270515.cms">reported</a> Business Insider.
Engagement baiting can take several forms, including rage baiting, where posts are designed to infuriate users into responding. This tactic has also gained popularity due to its effectiveness in drawing online attention.
On platforms like TikTok, where views can translate into revenue, rage baiting has become a cottage industry, the report noted.
See Also: <a href="https://www.benzinga.com/news/24/09/40784773/elon-musk-liked-the-camera-on-iphone-15-but-iphone-16-doesnt-get-much-love-from-the-techno-king-here?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Liked The Camera On iPhone 15, But iPhone 16 Doesn&#8217;t Get Much Love From The Techno King: Here&#8217;s What He Said</a>
Here are a couple of examples that the Business Insider reporter tried to test this theory:
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/12232200/Screenshot-2024-09-13-at-8.51.37%E2%80%AFAM-1024x812.png" alt="" class="wp-image-545945" /></figure>
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/12232410/Screenshot-2024-09-13-at-8.54.01%E2%80%AFAM-1024x896.png" alt="" class="wp-image-545946" /></figure>
The results were as expected. The reporter&#8217;s posts she wrote as an experiment quickly received lots of attention, although it was mostly negative. They also started getting posted on other platforms.
Threads has a bonus program where select creators can earn cash payouts for posts with more than 2,500 views. However, it&#8217;s unclear who is part of this program, leading to speculation that some posts may be angling for a payout from Meta, the report stated.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: Threads has been making significant strides in user engagement. In August 2024, <a href="https://www.benzinga.com/news/24/08/40136275/metas-threads-reaches-200m-users-rivaling-x-in-social-media-race">Threads reached 200 million active users</a>, a milestone confirmed by Adam Mosseri, the head of Instagram.
This achievement came shortly after Meta CEO Mark Zuckerberg mentioned Threads&#8217; growing user base during the company&#8217;s fiscal second-quarter 2024 earnings call.
Previously, <a href="https://www.benzinga.com/news/24/02/36905049/mark-zuckerberg-says-threads-exploded-too-soon-but-now-its-on-track-to-be-a-major-success">Zuckerberg expressed confidence</a> in Threads&#8217; future success despite its early popularity reportedly waning. He highlighted Meta&#8217;s quick learning and experimentation culture, stating that Threads has more active users than at its peak during its launch.
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>.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/09/40826639/mark-zuckerberg-live-event-sold-out-stadium-meta-ceo-attracted-thousands-eager-to-hear-him-speak-on?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Live Event Sold Out Stadium: Meta CEO Attracted Thousands Eager To Hear Him Speak On &#8216;The Next Decade Of Social, Technology, And AI&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Social Media

Tech

Media

Mark Zuckerberg-Led Threads' Engagement Baiting Trend Appears To Be A New Strategy For User Interaction: Report

Influential economist Peter Schiff reshared a post by pseudonymous X&nbsp;user DogeDesigner about the escalating national debt crisis in the U.S.
What Happened: A popular member of the cryptocurrency fraternity who also works as a graphic designer in the&nbsp;Dogecoin (CRYTPO: DOGE) ecosystem, DogeDesigner pointed out that the interest on U.S. debt has crossed $1 trillion for the first time, citing a report by the Treasury Department.
He added that interest payments on debt have reached a staggering $1.05 trillion in the first 11 months of the fiscal year, marking a 30% increase from the previous year.
&#8220;Remember, government overspending is the real cause of inflation,&#8221; DogeDesigner argued.
<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">BREAKING: Interest on U.S. debt tops $1 trillion for the first time. In the first 11 months of the fiscal year, interest payments totaled $1.05 trillion, up 30% from a year ago, the Treasury Department reported. Remember, government overspending is the real cause of inflation. <a href="https://t.co/ccrvf0ijg5">pic.twitter.com/ccrvf0ijg5</a>
&mdash; DogeDesigner (@cb_doge) <a href="https://twitter.com/cb_doge/status/1834350739931451811?ref_src=twsrc%5Etfw">September 12, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The post was amplified by Schiff, a longtime critic himself of the administration&#8217;s policies on tackling debt and inflation.
In a YouTube video on Thursday, he highlighted how the Federal Reserve&#8217;s hawkish policy in recent years failed to bring down the government deficits, which were higher than $35 trillion as of this writing. 
Schiff added that the Fed has actually been stimulative the whole time, while claiming to be restrictive.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Schiff: Act NOW to Avoid Debt and Dollar Debacle" width="500" height="281" src="https://www.youtube.com/embed/VOjOGSnJzRQ?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40846008/trump-to-launch-upcoming-crypto-venture-on-elon-musks-x-on-this-date-says-were-leaving-the">Trump To Launch Upcoming Crypto Venture On Elon Musk&#8217;s X On This Date, Says We&#8217;re &#8216;Leaving The Outdated And Big Banks Behind&#8217;</a>
Why It Matters: This revelation comes on the heels of a stark warning issued by Schiff earlier this week. The gold bug and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) skeptic expressed concerns about the U.S. economy, suggesting that the Fed&#8217;s widely anticipated rate cuts <a href="https://www.benzinga.com/news/24/09/40785555/peter-schiff-warns-feds-rate-cuts-wont-prevent-recession-issues-warning-about-inflation-and-unemploy">will not stave off a recession</a>. He further stated that while short-term rates may decrease, long-term rates, inflation, and unemployment are expected to rise.
These concerns, coupled with DogeDesigner&#8217;s remarks, underscored the growing apprehension about the U.S. economy&#8217;s health and the potential impact of increasing debt and inflation.
Image via Shutterstock
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40825182/anthony-scaramucci-said-last-week-bitcoin-could-touch-up-to-200k-now-hes-thanking-living-l?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Said Last Week Bitcoin Could Touch Up to $200K, Now He&#8217;s Thanking &#8216;Living Legend&#8217; Michael Saylor For Book Foreword</a></li>
</ul>
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.<a href="https://benzinga.com/apis" rel="noreferrer noopener" target="_blank"></a>

$BTC

Peter Schiff Echoes Dogecoin Influencer's Views On Mounting US Debt: 'Remember, Government Overspending Is The Real Cause Of Inflation'

After Nippon Steel&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NPSCY#OTC">NPSCY</a>) last-ditch efforts to win over workers for its $14.1 billion acquisition of United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>), United Steelworkers, a general trade union says that the takeover proposal is a "doomed deal"  and the union willing to fight any <a href="https://www.benzinga.com/markets/equities/24/09/40825269/biden-and-harris-push-to-block-14-1b-us-steel-acquisition-by-nippon-steel-faces-committee-delay-">foreign ownership in the U.S. based company</a>. 
What Happened: Dave McCall Union President expressed opposition to the deal in a written memo sent to relevant parties on Thursday. The memo was also sent to the White House after President Joe Biden and Vice President Kamala Harris expressed disagreement with the foreign acquisition of a Pittsburgh-based company. Bloomberg accessed and <a href="https://www.bloomberg.com/news/articles/2024-09-12/us-steel-deal-with-nippon-called-doomed-by-steelworkers-union?srnd=phx-politics">reported</a> the memo. 
"In its desperate attempt to save a doomed deal, US Steel executives have turned to one of the oldest tricks in the book: attempting to divide USW members and retirees to distract us from the multi-million-dollar payoffs they stand to gain personally," McCall wrote in the memo. 
Earlier this week, some workers supported the deal, and the new owner after U.S. Steel warned that the failure of the takeover might cause some plants to shut down. 
"Many people profess to want what is best for our employees, and that is why we negotiated a deal with a partner who will bring $2.7 billion of transformative investments in USW-represented facilities, keeping them in operation for decades to come," U.S. Steel commented on McCall&#8217;s memo. 
See Also: <a href="https://www.benzinga.com/markets/asia/24/09/40842879/major-central-banks-slash-rates-in-sync-but-one-holdout-threatens-to-derail-bulls-momentum-carry-tra">Major Central Banks Slash Rates In Sync, But One Holdout Threatens To Derail Bulls&#8217; Momentum: &#8216;Carry Trade Is Still Unwinding&#8217;</a>
Why It Matters: The Japanese steelmaker has engaged with the USW leadership 32 times, through face-to-face meetings, emails, and phone calls. 
The USW, boasting 850,000 members, has consistently opposed Nippon Steel's plans. The union's influence in key states could potentially impact the outcome of the U.S. presidential election in November. Both U.S. Vice President Harris and former President Donald Trump have voiced concerns <a href="https://www.benzinga.com/m-a/24/09/40832803/nippon-steel-unveils-union-talks-amid-us-steel-acquisition-dispute">over the proposed takeover</a>. 
Amid the mixed views over the deal by union members and other stakeholders, The Committee on Foreign Investment, the legislative committee responsible for reviewing the deal is yet to send a recommendation on the deal as of Wednesday, <a href="https://www.benzinga.com/markets/equities/24/09/40825269/biden-and-harris-push-to-block-14-1b-us-steel-acquisition-by-nippon-steel-faces-committee-delay-">according to a U.S. official</a>. 
Last week, Shigeru Ishiba, a <a href="https://www.benzinga.com/news/24/09/40745941/japan-pm-candidate-warns-bidens-opposition-to-nippons-us-steel-acquisition-could-undermine-the-trust" target="_blank" rel="noreferrer noopener">leading candidate to become Japan&#8217;s next prime minister</a>, expressed his concerns over The potential decision by the U.S. to prevent Nippon Steel from acquiring U.S. Steel. He labeled the potential U.S. action as &#8220;very unsettling&#8221; and cautioned that it could &#8220;undermine the trust of its allies."
Price Action: U.S. Steel was up 4.04% and traded at $34.74 on Thursday. In after-hours trading, the stock dipped 0.98%. U.S. Steel has seen a decline of 27.56% this year, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>. 
Read Next: 
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<li><a href="https://www.benzinga.com/news/earnings/24/09/40843018/adobe-reports-record-q3-revenue-eps-beats-estimates">Adobe Reports Record Q3 Revenue, EPS Beats Estimates</a></li>
</ul>
Image Via Shutterstock

Equities

NPSCY

Kamala Harris Opposed $14.1B Nippon Steel Acquisition Of US Steel Labeled By United Steelworkers As 'Doomed' — Union Boss Says Executives Using 'Oldest Tricks In The Book'

Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>), and ByteDance-owned&nbsp;TikTok&nbsp;have announced a joint initiative to combat&nbsp;the spread of suicide and&nbsp;self-harm content online.
What Happened: On Thursday, the tech giants launched a new program named Thrive, aimed at halting the dissemination of graphic content that depicts or encourages self-harm and suicide.
Thrive allows them to exchange &#8220;signals&#8221; to notify each other about such content on their platforms. 
The Mental Health Coalition, a charity organization committed to destigmatizing mental health discussions, has partnered with the three companies to develop this initiative.
See Also:&nbsp;<a href="https://www.benzinga.com/government/24/09/40794781/gop-lawmaker-defends-google-amid-antitrust-trial-penalize-them-for-trying-to-be-good-business-thats?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">GOP Lawmaker Defends Google Amid Antitrust Trial: &#8216;Penalize Them For Trying To Be Good Business? That&#8217;s Insane&#8217;</a>
According to a blog post shared by Meta, the tech giant has already taken steps to make such content less accessible on its platform. &#8220;Between April and June this year,&nbsp;we took action&nbsp;on over 12 million pieces of suicide and self-harm content on Facebook and Instagram.:
However, it aims to maintain a space for users to share their experiences with&nbsp;mental health, suicide, and self-harm, provided they do not promote or provide graphic descriptions of these issues.
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 initiative comes in the wake of increasing concerns about the safety of social media platforms for young users. Last year in November, a&nbsp;<a href="https://www.benzinga.com/news/23/11/35867623/meta-whistleblower-alleges-that-his-repeated-warnings-to-mark-zuckerberg-about-teen-safety-issues-on">Meta whistleblower</a>&nbsp;raised alarms about the safety of Instagram for teenagers. 
Similarly, in January 2024, the Attorney General of Iowa initiated a&nbsp;<a href="https://www.benzinga.com/news/24/01/36672550/is-tiktok-safe-for-kids-iowas-legal-action-sparks-a-fresh-debate">lawsuit against TikTok</a>, accusing the platform of misleading parents about the extent of inappropriate content accessible to young users.
Earlier this year in June, the Los Angeles Board of Education voted to&nbsp;<a href="https://www.benzinga.com/government/24/06/39386657/is-it-time-for-kids-to-power-off-phones-second-largest-us-school-district-says-yes-votes-to-initiate">limit phone usage</a>&nbsp;among students during the school day, reflecting growing concerns about the impact of digital content on young minds.
In September, YouTube, owned by Alphabet Inc., also <a href="https://www.benzinga.com/news/24/09/40766389/elon-musk-expresses-disbelief-over-youtubes-restriction-on-fitness-videos-for-teens-globally-serious">restricted access</a> to certain health and fitness videos for teenagers to protect them from developing negative self-perceptions.
Photo Courtesy: Shutterstock.com
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>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40826639/mark-zuckerberg-live-event-sold-out-stadium-meta-ceo-attracted-thousands-eager-to-hear-him-speak-on?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Live Event Sold Out Stadium: Meta CEO Attracted Thousands Eager To Hear Him Speak On &#8216;The Next Decade Of Social, Technology, And AI&#8217;</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

SNAP

Meta, Snap, And TikTok Come Together To Combat Suicide And Self-Harm Content Online: Will Share 'Signals'

On Thursday, Cathie Wood&#8217;s Ark Invest made some significant trades, with Advanced Micro Devices Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Robinhood Markets Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), and Palantir Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) being the most prominent.
The AMD Trade: Ark Invest&#8217;s ARKK fund bought 45,541 shares of AMD through its flagship ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>). The move comes after Oracle Corp&#8217;s executive confirmed AMD&#8217;s <a href="https://www.benzinga.com/news/24/09/40820316/amd-gains-ground-in-ai-chip-market-oracle-exec-confirms-growing-demand-report">growing traction</a> in the data center chip market for artificial intelligence. AMD is also <a href="https://www.benzinga.com/news/24/09/40776199/amd-vs-nvidia-amds-surprising-strategy-shift-in-gaming-gpu-battle">shifting its focus to the gaming GPU market</a>, aiming to capture 40%-50% of the total addressable market by focusing on mainstream and mid-range GPUs. Based on AMD&#8217;s closing price of $150.77 on the same day, the value of the trade is approximately $6.9 million.
The HOOD Trade: Ark Invest&#8217;s Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>) fund sold 19,518 shares of Robinhood worth $422,369. This comes after Robinhood agreed to a <a href="https://www.benzinga.com/news/24/09/40798894/robinhood-reaches-3-9m-settlement-with-california-over-blocking-cryptocurrency-withdrawals">$3.9 million settlement</a> with California's Department of Justice over its past ban on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) cryptocurrency withdrawals. Despite the settlement, Robinhood has been transitioning from a meme stock trading platform to a more mature and competitive player against traditional brokerages. Based on HOOD&#8217;s closing price of $21.64 on the same day, the value of the trade is approximately $422,000.
The PLTR Trade: Ark Invest&#8217;s ARKK fund sold 4,861 shares of <a href="https://www.benzinga.com/markets/equities/24/09/40825098/cathie-woods-ark-invest-continues-to-sell-palantir-offloads-6-4m-worth-of-shares-loads-up-on-coi">Palantir</a>. The transaction was made through ARKK. This move is part of Ark&#8217;s <a href="https://www.benzinga.com/markets/equities/24/09/40825098/cathie-woods-ark-invest-continues-to-sell-palantir-offloads-6-4m-worth-of-shares-loads-up-on-coi">recent trend</a> of selling Palantir shares. Based on PLTR&#8217;s closing price of $34.91 on the same day, the value of the trade is approximately $170,000.
See Also: <a href="https://www.benzinga.com/news/earnings/24/09/40811837/how-to-earn-500-a-month-from-nvidia-stock?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">How To Earn $500 A Month From Nvidia Stock</a> 
Other Key Trades:
<ul>
<li>Ark Invest&#8217;s ARKG fund bought shares of Personalis. Ark Invest&#8217;s ARKG fund bought shares of Guardant Health Inc.</li>
<li>Ark Invest&#8217;s ARKK fund bought shares of Draftkings Inc. Ark Invest&#8217;s ARKW fund bought shares of Rubrik Inc (RBRK).</li>
<li>Ark Invest&#8217;s ARKX fund bought shares of Blade Air Mobility Inc (BLDE).</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/government/24/09/40808813/after-kamala-harris-said-us-steel-should-remain-american-owned-nippon-steels-takahiro-mori-reportedl?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">After Kamala Harris Said US Steel Should Remain &#8216;American-Owned,&#8217; Nippon Steel&#8217;s Takahiro Mori Reportedly Flies To US For Final Attempt At Saving $15B Deal</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

ARKF

ARKK

HOOD

PLTR

Cathie Wood's Ark Invest Buys $6.9M Worth Of Shares Of Nvidia Rival AMD, Sells Palantir And Robinhood Stock

Investors in the cannabis sector are closely watching the potential rescheduling of cannabis by the DEA—a decision that could reshape the industry and unlock significant tax relief. As experts at a recent webinar discussed, the path forward hinges on a key Administrative Law Judge (ALJ) hearing scheduled for December 2, 2024, which could determine how quickly these changes will come and how much the market might shift.
<h3 class="wp-block-heading">Why Cannabis Reform Is Not A Priority In 2024</h3>
On September 11, 2024, Zuanic &amp; Associates hosted a comprehensive webinar focused on the ongoing process of cannabis rescheduling in the United States. Moderated by senior analyst <a href="https://www.benzinga.com/topic/pablo-zuanic">Pablo Zuanic</a> and Anthony Coniglio, CEO of (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NLCP#OTC">NLCP</a>), the panel featured industry experts Kelly Fair, a partner at Dentons, and Morgan Fox, the political director of the National Organization for the Reform of Marijuana Laws (NORML), the oldest cannabis reform organization in the U.S., founded in 1970.
Both panelists highlighted that while cannabis policy reform has gained traction among presidential candidates, it remains a secondary issue for the majority of voters.
Fox emphasized that although <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38905962/cannabis-rescheduling-when-will-it-happen-expert-lays-out-timeline-risks-and-wild-c">rescheduling</a> is a step in the right direction, NORML's ultimate goal is <a href="https://www.benzinga.com/markets/cannabis/23/04/31779376/exclusive-deschedulingrescheduling-cannabis-will-it-be-an-expeditious-path-to-280e-relief-this-i">full descheduling</a>. Fox suggested that descheduling would allow Congress to take meaningful steps toward regulating cannabis effectively, unlike the rescheduling process, which he deemed prone to political delays.
Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.
<h3 class="wp-block-heading">Who Gets To Speak At The Cannabis Hearing?</h3>
A significant portion of the discussion revolved around the technical aspects of the upcoming ALJ hearing. Fair clarified the procedural steps, noting that those wishing to speak must apply by September 30 with final speaker lists expected by November 2024.
Fair highlighted the importance of this hearing in shaping the final rescheduling rule, as it provides a platform for both proponents and opponents of the rescheduling proposal to present evidence. However, the panel agreed that the DEA retains substantial discretion in deciding the scope of the hearing and final rule.
Evidence and expert testimony presented during the<a href="https://www.benzinga.com/markets/cannabis/24/06/39436068/dea-18-gop-state-attorneys-general-want-public-hearing-on-cannabis-rescheduling-as-deadline-loom"> ALJ hearing</a> will play a pivotal role in shaping the DEA&#8217;s final decision on cannabis rescheduling. Both proponents and opponents of rescheduling will need to provide compelling arguments, as the DEA&#8217;s interpretation of this evidence could determine the outcome of the entire process.
<h3 class="wp-block-heading">Potential Delays And Challenges</h3>
Both Fox and Fair acknowledged that procedural hurdles and potential judicial challenges could prolong the timeline. Fox noted that any final ruling would likely face legal opposition, which could further <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40580306/cannabis-stocks-plummet-by-up-to-16-on-dea-rescheduling-delay-could-this-be-the-buy">delay implementation</a>. Fair added that while the ALJ's findings are essential, the DEA is not obligated to follow those recommendations, which adds another layer of uncertainty.
The webinar concluded with cautious optimism.
While rescheduling could provide some immediate relief, particularly by eliminating the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/08/33482140/rescheduling-cannabis-what-are-the-implications-for-msos-tax-rule-280e-fda-and-phar">280E tax burden</a>, the path forward remains uncertain due to potential political changes and judicial challenges. The panelists agreed that rescheduling is a step in the right direction but emphasized that descheduling remains the ultimate goal for meaningful cannabis reform.
Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/09/40712816/what-trump-learned-about-marijuana-that-desantis-did-not-and-why-the-gop-might-become-weed-frien">What Trump Learned About Marijuana That DeSantis Did Not And Why The GOP Might Become Weed-Friendly</a>

Cannabis

Government

Regulations

Politics

Legal

Exclusives

NLCP

Cannabis Experts Say Weed Reform Is A Race Against Time, Is The DEA Delaying Biden's Rescheduling Proposal?

Leading cryptocurrencies remained choppy on Thursday as the countdown to the widely anticipated interest rate cut began.
<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>+0.43%</td>
<td>$57,967.54</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>-0.06%</td>
<td>$2,355.29</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>+0.23%</td>
<td>$0.102</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin wiggled in the narrow range between $57,700 and $58,400, showing no clear directional bias.&nbsp;&nbsp;Similarly, Ethereum dropped to $2,300 during early trading before clawing back to $2,350 overnight.&nbsp;
The market remained calm, with liquidations reaching just over $63 million in the last 24 hours. Nearly equal numbers of upside and downside bets got wiped out.
Former President Donald Trump <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40846008/trump-to-launch-upcoming-crypto-venture-on-elon-musks-x-on-this-date-says-were-leaving-the">announcing the launch date</a> of his cryptocurrency project failed to have any meaningful impact on the market.
Bitcoin's funding rate was negative on top cryptocurrency exchanges like Binance and Bybit, indicating the dominance of bearishly leveraged traders.
This was further exemplified by the significant dip in the Long/Short Ratio for the cryptocurrency.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. EDT)</td>
</tr>
<tr>
<td>Beam (BEAM)</td>
<td>+9.91%</td>
<td>$0.0143</td>
</tr>
<tr>
<td>Quant (QNT)</td>
<td>+9.88%</td>
<td>$77.38</td>
</tr>
<tr>
<td>BinaryX (BNX)</td>
<td>+8.75%</td>
<td>$1.65</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market stood at $2.04 trillion, following an increase of 0.46% in the last 24 hours.
Stocks closed another day in the green. The S&amp;P 500 rose 0.75% to end at 5,595.76. The tech-heavy Nasdaq Composite gained 1% to close at 17,569.68. The Dow Jones Industrial Average lifted 235.06 points, or 0.58%, to finish at 41,096.77.
Investors weighed in <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40831982/producer-inflation-slows-to-1-7-yearly-in-august-jobless-claims-align-with-expect">August's producer inflation data</a>, which showed a sharper-than-anticipated slowdown in the headline producer price index while core inflation remained stable.&nbsp;
Thursday's report followed the consumer price index data, revealing an increase in core prices.&nbsp;
Investors now estimate a 59% chance of a 25-basis-point rate drop at next week&#8217;s FOMC meeting, while expectations of an aggressive 50-basis-point rate cut have risen to 41%, <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">according </a>to the CME FedWatch tool.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Prominent analytics firm Santiment noted a jump in bullish Bitcoin commentary over the past week, with the ratio of positive mentions more than twice the number of negative for the first time in more than a year.
Santiment interpreted the high FOMO as "concerning," implying a market peak.
"When the crowd begins conveying doubt again, BTC will truly begin testing its March all-time high market values," the on-chain researcher said.
<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">&#x1f973; A surge of positive Bitcoin commentary across social media has come in over the past week. So much so that the ratio of positive comments is more than double the amount of negative comments for the first time in over a year. The crowd&#39;s sudden optimism toward crypto&#39;s top… <a href="https://t.co/jnf6d0rOWM">pic.twitter.com/jnf6d0rOWM</a>
&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1834334388357923332?ref_src=twsrc%5Etfw">September 12, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Widely-followed cryptocurrency analyst and trader Ali Martinez drew attention to Bitcoin's extended move below its 200-day moving average.
"BTC has now been below this key level, at $64,000, for over a month, hinting at a potential drop towards its realized price of $31,500!" Martinez projected.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> trading above its 200-day moving average often signals strong returns, while dropping below it can lead to sharp corrections. <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> has now been below this key level, at $64,000, for over a month, hinting at a potential drop towards its Realized Price of $31,500! <a href="https://t.co/DbqtNpL6D6">pic.twitter.com/DbqtNpL6D6</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1834327875182362782?ref_src=twsrc%5Etfw">September 12, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo courtesy: Shutterstock
Read Next:    
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40840932/whats-next-for-bitcoin-ethereum-after-months-of-sideways-momentum">What&#8217;s Next For Bitcoin, Ethereum After Months Of Sideways Momentum?</a></li>
</ul>

$DOGE

$ETH

Bitcoin, Ethereum, Dogecoin Flat As Investors Await Fed's FOMC Meet: Top Analyst Warns About What Happens If King Crypto Stays Below $64K

On Thursday, OpenAI CEO Sam Altman faced backlash from ChatGPT subscribers after he responded to a user&#8217;s question about <a href="https://www.benzinga.com/news/24/08/40281378/openai-fears-users-might-form-social-relationships-with-ai-due-to-chatgpts-human-like-voice-mode">new voice features</a>.
What Happened: <a href="https://www.benzinga.com/top-stories/24/09/40842891/openai-unveils-o1-model-a-step-closer-to-human-like-ai-but-not-without-flaws">OpenAI has unveiled</a> a preview of OpenAI o1, a new series of AI models. These models are designed to spend more time thinking before responding and can solve more complex tasks than previous models.
Altman confirmed that the rollout was complete and live for all ChatGPT Plus/Team users. However, his response to a user&#8217;s question about releasing new voice features sparked controversy. 
The OpenAI CEO said, &#8220;How about a couple of weeks of gratitude for magic intelligence in the sky, and then you can have more toys soon?&#8221;
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40777242/bank-of-america-warns-energy-could-be-cheap-for-a-reason-highlights-utilities-as-de?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bank Of America Warns Energy Could Be &#8216;Cheap For A Reason,&#8217; Highlights Utilities As Defensive Play</a>
Many <a href="https://www.benzinga.com/general/entertainment/23/02/30674052/chatgpt-introduces-premium-subscription-plan-what-you-need-to-know">ChatGPT subscribers</a> expressed their dissatisfaction with comments such as &#8220;We pay $20/month!&#8221;, &#8220;The arrogance in this reply&#8221;, and &#8220;Master demands your gratitude peasant. Your money isn&#8217;t good enough.&#8221; 
One user also compared Altman&#8217;s response to the style of Tesla and SpaceX CEO Elon Musk, suggesting a lack of transparency. &#8220;This comment kinda comes across like Elon Musk. I mean that&#8217;s who I would&#8217;ve assumed wrote it.&#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">how about a couple of weeks of gratitude for magic intelligence in the sky, and then you can have more toys soon?
&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1834351981881950234?ref_src=twsrc%5Etfw">September 12, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: OpenAI&#8217;s new model, &#8216;o1,&#8217; is a significant step towards achieving human-like AI. However, the model is more expensive and slower to <a href="https://www.benzinga.com/news/24/05/38806086/openai-tries-to-steal-googles-thunder-a-day-before-search-giants-event-unveils-gpt-4o-a-chatgpt-vers">use than the</a> GPT-4o model.
Earlier this week it was reported that ChatGPT-parent is reportedly in discussion to raise $6.5 billion in equity financing, which could bring its <a href="https://www.benzinga.com/news/24/09/40825072/openais-valuation-could-skyrocket-to-150b-in-new-fundraising-positioning-it-among-the-worlds-most-va">valuation to $150 billion</a>.
Meanwhile, OpenAI co-founder Ilya Sutskever, who <a href="https://www.benzinga.com/news/24/09/40722123/openai-co-founder-ilya-sutskevers-ai-startup-raises-1b-from-andreessen-horowitz-sequoia-as-sam-altma">left the company in May</a>, has launched a new AI venture, Safe Superintelligence Inc. or SSI. In September, Sutskever&#8217;s AI startup raised $1 billion from Andreessen Horowitz, Sequoia Capital, DST Global, and SV Angel.
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>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40812318/samsung-to-reportedly-slash-global-workforce-by-up-to-30-in-certain-divisions-amid-intense-competiti?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Samsung To Reportedly Slash Global Workforce By Up To 30% In Certain Divisions Amid Intense Competition From Apple, Huawei</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Sam Altman Wants ChatGPT Users To Have 'Gratitude For Magic Intelligence In The Sky' After They Ask About New Voice Features — Online Outrage Is Real

Elon Musk, CEO of Tesla Inc., voiced his apprehension on X regarding potential global conflict. According to his post on Thursday, Musk responded to a claim by Wall Street Silver about an imminent escalation involving the U.S. and Russia.
What Happened: Musk&#8217;s comment, &#8220;I have a bad feeling about this,&#8221; was a reply to Wall Street Silver&#8217;s assertion that President Joe Biden and Vice President Kamala Harris might initiate a war over the weekend. The post suggested that the U.S. would authorize Ukraine to strike deep into Russian territory using Western-made missiles.
Wall Street Silver&#8217;s post included a video of Russian President Vladimir Putin discussing the potential repercussions of NATO using long-range weapons against Russia. Putin stated, &#8220;If they do that, NATO is officially at war with Russia,&#8221; emphasizing the severe consequences of such actions.
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<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I have a bad feeling about this
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1834372707649265826?ref_src=twsrc%5Etfw">September 12, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Putin further elaborated that this would signify a state of war between NATO countries, including the U.S. and European nations, and Russia. He warned that Russia would make appropriate decisions based on the perceived threats.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40785731/dogecoin-shoots-up-over-6-as-elon-musk-remembers-his-now-famous-dogefather-skit-from-snl-i?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Shoots Up Over 6% As Elon Musk Remembers His Now Famous &#8216;Dogefather&#8217; Skit From SNL: &#8216;I Went Off The Rails&#8217;</a>
Why It Matters: Secretary of State Antony Blinken gave his clearest indication yet that the White House is on the verge of lifting restrictions on Ukraine&#8217;s use of long-range Western-supplied weapons against key military targets inside Russia, with reports suggesting a decision has already been made behind closed doors, according to a <a href="https://www.theguardian.com/world/2024/sep/11/blinken-hints-us-will-lift-restrictions-on-ukraine-using-long-range-arms-in-russia">report</a> by The Guardian.
President Biden stated on Tuesday that his administration is &#8220;working that out now&#8221; when asked about the possibility of lifting restrictions on Kyiv&#8217;s use of missiles like ATACMS. Kremlin spokesman Dmitry Peskov responded, indicating that Moscow suspects the U.S. has already decided to allow Kyiv to launch such missiles into Russia, warning that there would be a response if it occurs, according to Reuters.
The White House did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
The context behind Musk&#8217;s concerns is rooted in several recent developments. In July, NATO announced a $40 billion annual financial <a href="https://www.benzinga.com/news/24/07/39590765/nato-to-trump-proof-ukraine-aid-after-bidens-weak-debate-performance-with-40b-annual-financial-pledg">pledge to support Ukraine</a>, alongside the establishment of a new post in Kyiv. This move was aimed at bolstering Ukraine&#8217;s defense capabilities and countering potential threats from Russia.
This move was also aimed at safeguarding Ukraine's potential future NATO membership and countering the&nbsp;<a href="https://www.benzinga.com/news/24/04/38063284/nato-proposes-trump-proof-107b-fund-to-sustain-ukraine-military-support" target="_blank" rel="noreferrer noopener">impact of a potential return</a>&nbsp;of former President&nbsp;Donald Trump.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40808912/elon-musk-says-kamala-harris-exceeded-most-peoples-expectations-but-debate-hosts-were-unfair-to-trum?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Kamala Harris &#8216;Exceeded Most People&#8217;s Expectations,&#8217; But Debate Hosts Were Unfair To Trump: Raises Concerns About Lack Of National Debt Crisis Discussion</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>

Global

TSLA

'I Have A Bad Feeling About This' — Elon Musk Is Alarmed About Moscow-NATO Conflict Risk If Ukraine Allowed To Strike Deep Into Russia

In response to increasing tensions with China, the US Navy&#8217;s elite Seal Team 6 has been preparing for potential missions in Taiwan, according to sources close to the preparations.
What Happened: The covert commando unit, renowned for its role in the 2011 operation that resulted in Osama bin Laden&#8217;s death, has been training for a potential Taiwan conflict for over a year at its Virginia Beach headquarters, <a href="https://www.ft.com/content/0a535bbd-767e-406a-8624-1af9cb7246f7">reported</a> The Financial Times.
The increased training underscores the escalating U.S. focus on deterring China from invading Taiwan, while also preparing for such a possibility. This follows a warning from the former U.S. Indo-Pacific commander, Phil Davidson, in 2021 that China could attack Taiwan within six years.
Despite officials asserting that a conflict with China is &#8220;neither imminent nor inevitable,&#8221; the U.S. military has hastened contingency preparations in response to the rapid modernization of the People's Liberation Army and President Xi Jinping's directive to have the capability to take Taiwan by force by 2027.
The Pentagon has ramped up the deployment of regular special forces to Taiwan for missions that include training the Taiwanese military. However, Seal Team 6&#8217;s activities are more sensitive due to the highly classified nature of its covert missions.
As the threat from terror groups has diminished, special operations forces have joined the rest of the US military and the intelligence community in intensifying their focus on China. CIA director Bill Burns recently disclosed that 20% of his budget is now allocated to China, marking a 200% increase over three years.
See Also: <a href="https://www.benzinga.com/news/24/09/40815343/not-a-slam-dunk-for-harris-but-the-chances-of-a-trump-victory-have-slipped-investors-markets-adjust?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Not A Slam Dunk For Harris, But The Chances Of A Trump Victory Have Slipped:&#8217; Investors, Markets Adjust</a>
Why It Matters: The escalating tensions between the US and China over Taiwan have been evident for some time. In August, <a href="https://www.benzinga.com/news/24/08/40577315/china-allocates-15b-to-western-pacific-military-drills-in-2023-taiwanese-estimate-reveals-escalating">China allocated $15 billion to Western Pacific military drills</a>, highlighting Beijing's escalating military investment in the vicinity of Taiwan and neighboring regions.
In September, the newly appointed quasi-ambassador from the U.S. to Taiwan, Raymond Greene, <a href="https://www.benzinga.com/news/24/09/40708379/following-trumps-taiwan-remarks-us-envoy-says-he-is-much-more-confident-on-taipeis-defense-efforts-a">expressed confidence in Taiwan's defense reforms</a>, which he believes contribute to stability across the Taiwan Strait and the wider security scenario in the Indo-Pacific.
Image via Defense Visual Information Distribution Service
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>
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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>

General

Navy SEAL Team 6 Prepares For Potential Taiwan Conflict Amid Rapid Modernization Of Xi Jinping's Chinese PLA

On Thursday, Sen. Bernie Sanders (I-Vt.) took to X to express his concerns about the economic disparity in America. He criticized the wealthy for their actions, such as moving factories to China, suppressing union drives, and advocating for tax breaks for the rich.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We must have the guts to talk about the greed of the people on top — people who want to move factories to China, shut down union drives, and pass massive tax breaks for the rich. <a href="https://t.co/Tsm5avgNBc">pic.twitter.com/Tsm5avgNBc</a>
&mdash; Bernie Sanders (@BernieSanders) <a href="https://twitter.com/BernieSanders/status/1834371412489896100?ref_src=twsrc%5Etfw">September 12, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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What Happened: &#8220;We must have the guts to talk about the greed of the people on top — people who want to move factories to China, shut down union drives, and pass massive tax breaks for the rich,&#8221; said Sanders.
In a video that he shared in the post he praised President Joe Biden and Vice President Kamala Harris for doing an &#8220;excellent job&#8221; despite coming to power during the challenging economic circumstances brought on by the COVID-19 pandemic.
&#8220;The economy today is an economy where working class people are struggling,&#8221; said the independent senator. He said in the meanwhile Donald Trump&#8217;s &#8220;mantra&#8221; has been to demonize undocumented people. He said instead the need of the hour was to talk about the greed of people on top.
He said such people fight unions and are prepared to shut down factories in the U.S. and move them to Mexico or China. He questioned whether the country had the political system today in which members of Congress &#8220;are prepared to stand up to these big money interests.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/09/40815343/not-a-slam-dunk-for-harris-but-the-chances-of-a-trump-victory-have-slipped-investors-markets-adjust?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Not A Slam Dunk For Harris, But The Chances Of A Trump Victory Have Slipped:&#8217; Investors, Markets Adjust Positions After Presidential Debate</a>
Why It Matters: Sanders&#8217; comments echo his <a href="https://www.benzinga.com/news/24/09/40784837/bernie-sanders-says-if-youre-poor-in-america-youll-live-10-15-years-less-anybody-else-see-a-problem">previous statements</a> on the state of healthcare and wealth distribution in the United States. He has consistently pointed out the stark difference in life expectancy between the rich and the poor, as well as the tax advantages enjoyed by billionaires.
Sanders&#8217; tweet comes in the wake of his previous comments on the state of healthcare in the United States. He highlighted the disparity in outcomes between those with means and those without, stating that the poor in America live 10-15 years less than the rich. This information can be found in a Benzinga article from earlier this month.
Furthermore, Sanders has been vocal about the wealth gap in America. He has criticized America&#8217;s billionaires and the <a href="https://www.benzinga.com/real-estate/23/05/32193719/i-think-people-can-make-it-on-999-million-bernie-sanders-blasts-americas-billionaires-here-is-how-th">tax advantages they enjoy</a>.
Photo by Joseph Sohm on Shutterstock
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Bernie Sanders Issues A Challenge: Confront 'Greed' Of Elites Sending Factories To China

Tanisha Bogans, a former deputy director at <a href="https://www.benzinga.com/markets/cannabis/24/07/40046373/fake-test-result-accusations-cost-this-california-cannabis-lab-its-license">California&#8217;s Department of Cannabis Control </a>(DCC), has filed a lawsuit alleging wrongful termination after raising concerns about misconduct in the state's cannabis testing labs. 
The lawsuit, filed in Los Angeles County Superior Court, claims that Bogans was fired in January 2024 after pushing for action on reports of testing labs falsifying THC potency results and covering up product contamination, <a href="https://www.greenmarketreport.com/former-california-cannabis-regulator-sues-former-bosses-alleging-whistleblower-retaliation/">reported</a> Green Market Report.
Bogans, who was hired in December 2022 to oversee lab compliance, alleges that her superiors &#8211;DCC Director Nicole Elliott and Chief Deputy Director Rasha Salama &#8211; ignored multiple warnings from labs and industry groups about systemic issues.
In June 2023, U.S. Cannabis Laboratories alerted the DCC to widespread <a href="https://www.benzinga.com/markets/cannabis/24/05/38902713/weed-potency-has-increased-dramatically-over-last-several-decades-how-high-can-thc-limits-go">THC potency inflation</a>, claiming that labs were inflating numbers to satisfy brand clients, which could mislead consumers and undermine the legal market. 
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Despite these warnings, Bogans claims that her superiors refused to act.
She also reported finding evidence of pesticides and even <a href="https://www.benzinga.com/markets/cannabis/24/03/37445551/overdose-crisis-worsens-the-rise-of-fentanyl-smoking-leads-to-even-more-deaths-than-shooting-her">fentanyl</a> in products sold in licensed dispensaries. 
After contacting the Department of Justice (DOJ) about the violations, Bogans says she was reprimanded and later excluded from key meetings.
The lawsuit also alleges that a whistleblower informed Bogans in December 2023 that Gold Mountain Distribution, co-owned by La Puente City Councilman David Argudo, was operating without proper licenses.
Bogans claims her attempts to report this were ignored, and she was terminated the following month.
The lawsuit seeks damages for whistleblower retaliation and emotional distress.
Recently, a lab in California did not get its license renewed due to<a href="https://www.benzinga.com/markets/cannabis/24/07/40046373/fake-test-result-accusations-cost-this-california-cannabis-lab-its-license"> <a href="https://www.benzinga.com/markets/cannabis/24/07/40046373/fake-test-result-accusations-cost-this-california-cannabis-lab-its-license">accusations of </a>fake test results </a>.
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<li>Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/40842324/exclusive-dea-stalling-hinders-critical-clinical-trials-for-debilitating-conditions-says-mmj-bio">EXCLUSIVE: DEA Stalling Hinders Critical Clinical Trials For Debilitating Conditions, Says MMJ BioPharma CEO</a></li>
</ul>
Cover: AI generated image

Cannabis Regulator Whistleblower Sues California, Alleges Retaliation After Reporting Lab Testing Misconduct

Former President Donald Trump's hotly anticipated cryptocurrency venture has a launch date, and it has come straight from the horse's mouth.
What happened: Trump released a video from his official X handle Thursday, announcing that the World Liberty Financial project would be launched on X spaces next Monday at 8 p.m.
"We're embracing the future with crypto and leaving the outdated and big banks behind," the Republican, who is running for White House, said.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">.<a href="https://twitter.com/worldlibertyfi?ref_src=twsrc%5Etfw">@WorldLibertyFi</a> <a href="https://t.co/rHEGQXl4jL">pic.twitter.com/rHEGQXl4jL</a>
&mdash; Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1834311432982135015?ref_src=twsrc%5Etfw">September 12, 2024</a></blockquote>
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Trump's son Eric Trump, who has been promoting the decentralized finance (DeFi) project over the past few weeks, reposted the announcement, saying "Crypto is the future—I&#8217;m all in."
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40766075/peter-schiff-will-accept-he-was-wrong-about-bitcoin-if-restaurants-begin-to-show-prices-in">Peter Schiff Will Accept He Was Wrong About Bitcoin If Restaurants Begin To Show Prices In Satoshis Among Other Things</a>
Why It Matters: Trump first <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40515026/donald-trump-launches-crypto-platform-the-defiant-ones-to-challenge-traditional-banking-sy">promoted the DeFi initiative via Truth Social</a> last month, stating, "For too long, the average American has been squeezed by the big banks and financial elites.&#8221;
The team behind the venture had earlier outlined its commitment to drive the growth of U.S. dollar-pegged stablecoins, thereby ensuring the dominance of the greenback. It also announced a collaboration with the leading decentralized borrowing and lending platform, Aave (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/aave/usd">AAVE</a>).
Expectations aside, the project has also generated its fair share of controversy. Reports suggested that Trump might advocate for cryptocurrency-friendly regulations that could favor the project, <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40765946/trumps-upcoming-crypto-project-a-potential-problem-in-making-defi-stablecoin-promotion-rai">potentially leading to a conflict of interest</a> if he is re-elected.
Trump's election campaigns have <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40643394/trump-said-plan-to-make-us-crypto-capital-of-the-planet-would-come-by-afternoon-crypto-com">decisively turned pro-cryptocurrency</a> this year, as he vowed to make the U.S. the "crypto capital of the planet." Democratic presidential hopeful Kamala Harris, while not explicitly mentioning cryptocurrencies in public speeches, <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40699678/trump-campaign-more-explicit-in-embracing-crypto-says-coinbases-legal-head-but-encouraged-">has tried to counterbalance by reaching out to important stakeholders</a> in the industry.
Price Action: At the time of writing, Trump-themed cryptocurrency, Maga was exchanging hands at $2.47, down 12.58% 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>. 
Image via Wikimedia Commons
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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>
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Trump To Launch Upcoming Crypto Venture On Elon Musk's X On This Date, Says We're 'Leaving The Outdated And Big Banks Behind'

Former President Donald Trump has suggested the removal of taxes on overtime wages for individuals working beyond 40 hours a week. This proposal is part of Trump&#8217;s tax reduction strategy if he secures re-election.
What Happened: Trump announced this proposal at an Arizona rally, stating that it would incentivize people to work more and simplify the hiring process for companies. &#8220;The people who work overtime are among the hardest working citizens in our country, and for too long no one in Washington has been looking out for them,&#8221; Trump said, according to a <a href="https://thehill.com/homenews/campaign/4877565-donald-trump-overtime-pay-taxes/">report</a> by The Hill.
The proposal, which needs congressional approval, lacks further details about its execution. Earlier this year, Rep. Russ Fulcher (R-Idaho) introduced a similar bill to eliminate income taxes on overtime pay, marking it as a first-time attempt at the federal level.
Economist Peter Schiff reacted to the Trump proposal, he said in a comment on X on Thursday, &#8221; Trump just proposed no income taxes on overtime pay. But most employees can&#8217;t work overtime, as their employers don&#8217;t want to pay time and a half. So employees moonlight instead, working extra hours at normal pay for other employers. Employees lose out due to unpaid travel time.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Trump?src=hash&amp;ref_src=twsrc%5Etfw">#Trump</a> just proposed no income taxes on overtime pay. But most employees can&#39;t work overtime, as their employers don&#39;t want to pay time and a half. So employees moonlight instead, working extra hours at normal pay for other employers. Employees lose out due to unpaid travel time.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1834359724797841719?ref_src=twsrc%5Etfw">September 12, 2024</a></blockquote>
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Trump has also recently proposed <a href="https://www.benzinga.com/economics/macro-economic-events/24/06/39350922/trumps-tax-free-tips-proposal-may-inflate-federal-deficit-by-up-to-250b-report">ending taxes on tipped wages</a> and called for the elimination of taxes on Social Security benefits. Vice President Kamala Harris, the Democratic presidential nominee, later echoed Trump&#8217;s call for eliminating taxes on tips and proposed an increase in the minimum wage.
See Also: <a href="https://www.benzinga.com/news/24/09/40808499/trump-vs-harris-debates-results-are-in-flash-poll-shows-resounding-majority-pick-vice-president-as-w?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Harris Debate&#8217;s Results Are In: Flash Poll Shows Resounding Majority Pick Vice President As Win</a>
Why It Matters: Trump&#8217;s proposal to exempt overtime wages from taxes comes in the backdrop of his previous proposal to end taxes on tipped wages, which according to a Benzinga report, could inflate the federal deficit by $150 billion to $250 billion over the next decade. Additionally, the proposal to eliminate taxes on Social Security benefits could further increase the deficit by $1.6 trillion over the same period.
As the presidential race tightens, economic policies have become a major point of contention between Trump and Vice President Harris. The Vice President is <a href="https://www.benzinga.com/personal-finance/24/09/40696394/inflation-jobs-and-taxes-how-trump-and-harris-economic-policies-differ">gaining ground</a> on economic issues, traditionally Trump&#8217;s stronghold. Both candidates have laid out their visions for addressing inflation, taxes, and job creation and have sparked debate across the political spectrum.
Image via Shutterstock
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<li>Lawmakers Made Huge Investments This Year. <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>
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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 Says He Will End Taxes On Overtime Pay, But Economist Peter Schiff Says There Is A Fly In His Ointment

The ongoing feud between right-wing activist Laura Loomer and Rep. Marjorie Taylor Greene (R-Ga.) of Georgia has taken a new turn, with the two engaging in a public spat over a controversial social media post.
What Happened: Loomer, known for her anti-Muslim remarks, made a post mocking Vice President Kamala Harris&#8217;s Indian heritage. Greene responded by labeling Loomer's comments as "appalling and extremely racist," reported The Hill.
Loomer had said in a social media post on Sunday, &#8220;the White House will smell like curry &amp; White House speeches will be facilitated via a call center and the American people will only be able to convey their feedback through a customer satisfaction survey at the end of the call that nobody will understand.&#8221;
Loomer defended her post as a "funny joke about Kamala Harris" and accused Greene of being a "raging antisemite." Greene, in response, criticized Loomer for making President Trump look bad and called for the deletion of such posts.
The feud escalated with Loomer attacking Greene over her divorce and calling her a "poor excuse for a Christian." Greene retorted by stating that Loomer's "outright lies, instability, and manic toxicity have no place in MAGA."
On X, the two exchanged sharp words on Thursday with Loomer commenting on Greene&#8217;s personal life and even calling her out for &#8220;inside trading.&#8221; She said, &#8220;You haven't done anything to help Trump…&#8221;
Loomer&#8217;s comments were in response to Greene who said, &#8220;Laura Loomer's outright lies, instability, and manic toxicity have no place in MAGA.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">While you were busy having sexual affairs, cheating on your husband and getting divorced, and propping up <a href="https://twitter.com/SpeakerMcCarthy?ref_src=twsrc%5Etfw">@SpeakerMcCarthy</a> and engaging in insider trading in Congress <a href="https://twitter.com/RepMTG?ref_src=twsrc%5Etfw">@RepMTG</a>, I broke many of the stories regarding the weaponized lawfare against President Trump. I traveled to…
&mdash; Laura Loomer (@LauraLoomer) <a href="https://twitter.com/LauraLoomer/status/1834263385535295928?ref_src=twsrc%5Etfw">September 12, 2024</a></blockquote>
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White House press secretary Karine Jean Pierre condemned Loomer's comments on Harris's Indian heritage, calling them "repugnant" and "un-American."
The public spat comes after Greene warned Trump against hiring Loomer last year, calling her "mentally unstable" and a "documented liar."
See Also: <a href="https://www.benzinga.com/news/24/09/40784837/bernie-sanders-says-if-youre-poor-in-america-youll-live-10-15-years-less-anybody-else-see-a-problem?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bernie Sanders Says If You&#8217;re Poor In America You&#8217;ll Live 10-15 Years Less: &#8216;Anybody Else See A Problem With That?&#8217;</a>
Why It Matters: This public feud is <a href="https://www.benzinga.com/news/23/11/35863279/trump-loyalist-laura-loomer-slams-marjorie-taylor-greenes-memoir-calls-it-trash-what-a-shameless-gri">not the first instance</a> of discord between the two Trump loyalists. Loomer had previously criticized Greene&#8217;s memoir, calling it &#8220;trash,&#8221; in a post from November 2023. The two have been known for their mutual support for Trump, making this public disagreement particularly striking.
Greene has been a vocal supporter of Trump, even comparing him to Jesus at <a href="https://www.benzinga.com/general/politics/24/06/39260888/marjorie-taylor-greene-compares-donald-trump-to-jesus-the-man-that-i-worship-is-also-a-convicted">an election rally</a> in Las Vegas, Nevada. The recent feud comes amidst a heated political climate, with Vice President Harris leading over Donald Trump in the polls ahead of the <a href="https://www.benzinga.com/general/politics/24/09/40805945/harris-vs-trump-vice-president-holds-3-point-lead-ahead-of-presidential-debate-but-swing-states-">2024 presidential election</a>.
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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>
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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>

Marjorie Taylor Greene, Laura Loomer Clashed Over Kamala Harris' Indian Origin And It Got Really Ugly: 'You Haven't Done Anything To Help Trump… '

Japan is set to make a significant shift in its cannabis policy by criminalizing personal use while simultaneously legalizing medical products derived from <a href="https://www.benzinga.com/markets/asia/24/07/39896537/japanese-artist-arrested-for-cannabis-possession-challenges-nations-strict-laws-echoing-global-shift">the plant. </a>
<a href="https://english.kyodonews.net/news/2024/09/b95f4cbb4efd-japans-revised-laws-criminalizing-cannabis-use-take-effect-dec-12.html#google_vignette">According</a> to Kyodo News, the health ministry confirmed Thursday that these changes, aimed at regulating cannabis use and expanding access to cannabis-derived medicines, will take effect on December 12.
See Also:<a href="https://www.benzinga.com/markets/cannabis/24/06/39140255/japan-could-become-first-to-allow-cbd-in-food-thailands-medical-marijuana-costs-increase-6x-trig"> Japan Could Become First To Allow CBD In Food</a>
<h3 class="wp-block-heading">Japan Will Criminalize Cannabis Use</h3>
Although Japan has long banned the possession and cultivation of marijuana, the country had yet to penalize its use. This loophole was initially left to protect hemp farmers, who might inadvertently absorb trace amounts of cannabis compounds while cultivating the plant for industrial purposes. 
However, growing concerns about drug abuse, particularly among young people, have prompted Japan to reverse its stance.
Under the revised laws, using cannabis will be illegal, with violators facing up to seven years in prison. Authorities say this harsh stance will address the rise in drug misuse and serve as a deterrent. Japan's strict drug policies have long been known for their zero-tolerance approach, but this move marks a new era of control over even personal use.
<h3 class="wp-block-heading">Medical Marijuana</h3>
In contrast, Japan is opening the door to medical marijuana products. The revised laws will permit the use of cannabis-derived medicines, a significant step for patients who have been advocating for broader access to treatments.
While cannabis-based drugs have thus far been limited to clinical trials, the new legal framework will allow for their prescription and wider use in medical care.
Patient groups have been particularly vocal in pushing for cannabidiol (CBD) medicines, which are already approved in many parts of the world, including Europe and the United States. 
These drugs are used to treat conditions like severe epilepsy. The legal change offers hope for patients who have struggled to find effective treatments under Japan's restrictive drug policies.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cannabis/24/03/37907388/cannabis-arrests-in-japan-hit-record-high-australias-hemp-sector-faces-setback-moroccos-294-ton-">Cannabis Arrests In Japan Hit Record High</a></li>
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Asia

Japan Criminalizes Cannabis With 7-Year Prison Sentence, Medical Marijuana Remains Legal

On Tuesday, after Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) launched its iPhone 16 series, China's <a href="https://www.benzinga.com/government/24/09/40793314/huawei-targets-iphones-premium-market-with-2-800-foldable-mate-xt-launch-report">top smartphone maker</a> Huawei Technologies Co. announced Mate XT that will launch on Sept. 20.&nbsp;
The tri-fold smartphone has a starting price tag of $2,800, which is significantly expensive compared to the iPhone 16 Pro Max's $1,199 <a href="https://www.benzinga.com/news/24/09/40780100/apple-intelligence-ready-iphone-16-with-faster-processor-dedicated-camera-button-announced-check-pri">for 256 GB storage</a>.
The move has marked Huawei's ramped-up efforts to challenge Apple's smartphone dominance, making it a subject of curiosity about Mate XT. Here are a few things that users should know about Huawei's latest smartphone:
Price And Availability
Huawei&#8217;s Mate XT, the world&#8217;s first tri-fold smartphone, comes in three storage options with prices ranging from $2,800 to $3,371.
The iPhone 16 series has a starting price of $799 for the basic version and iPhone 16 Pro Max, the tech giant's most premium model starts with $1,199 for its minimum storage option.
Both devices are set to hit the market on Sept. 20, but they cater to different consumer needs and preferences.
See Also: <a href="https://www.benzinga.com/news/24/09/40767860/mark-cuban-praises-elon-musks-ai-chatbot-grok-for-answering-kamala-harris-pov-on-immigration-i-think?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Praises Elon Musk's AI Chatbot Grok For Answering Kamala Harris' POV On Immigration: ‘I Think It's Accurate'</a>
Innovation Vs. Familiar Form
The Mate XT features a unique tri-fold design that allows it to transform from a compact phone to a tablet. It also works with foldable keyboard.
The Mate XT boasts a 10.2-inch display with a 3K resolution, a powerful camera system including a 50 MP main sensor, and AI functionalities for text translation and image editing.&nbsp;
In contrast, the iPhone 16 maintains a traditional slab design. The regular iPhone 16 and the larger iPhone 16 Plus will come with 6.1-inch and 6.7-inch displays, respectively.
The iPhone 16 Pro screens are the largest ever on an iPhone, measuring 6.3 inches for the Pro model and 6.9 inches for the Pro Max.
The iPhone 16 Pro Max features a new fusion camera and an upgraded interface, including a 48MP fusion camera with a second-generation quad-pixel sensor. There&#8217;s a new 48MP ultra-wide camera with autofocus.
Both the iPhone 16 Pro and iPhone 16 Pro Max are now equipped with a 5x telephoto lens featuring a 120 mm focal length.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Consumer Sentiment And Pre-Orders&nbsp;
Despite its high price, the Mate XT has already racked up <a href="https://www.benzinga.com/government/24/09/40793314/huawei-targets-iphones-premium-market-with-2-800-foldable-mate-xt-launch-report">millions of pre-orders</a>, indicating strong interest in its innovative design.
However, analysts have previously cautioned that the Chinese smartphone maker might make only a few hundred thousand devices because Mate XT is expensive and its foldable screen is difficult to make, <a href="https://www.nytimes.com/2024/09/10/business/huawei-trifold-iphone.html">reported</a> the New York Times.
IDC analyst Arthur Guo also shared doubts about trifold devices significantly boosting the foldable market, noting challenges such as complex technical demands, low production yields, high costs, and a small number of companies involved.
On the other hand, the <a href="https://www.benzinga.com/news/24/09/40785959/iphone-16-fails-to-sway-some-chinese-buyers-im-going-to-buy-huaweis-tri-fold-phone-missing-ai-featur">iPhone 16 has faced criticism</a> for its incremental upgrades and limited AI features, which some consumers feel do not justify an upgrade from previous models.
Why It Matters: Huawei is seeking to make a comeback in the smartphone industry after the U.S. imposed sanctions on the company in 2019 and 2022.
Despite these challenges, Huawei managed to rank fourth by market share with 10.6 million smartphones shipped, according to Canalys.
In July this year, reports indicated that Apple slipped from third to sixth place in<a href="https://www.benzinga.com/markets/equities/24/07/39954971/apple-drops-from-3rd-to-6th-in-china-amid-intensifying-competition-huawei-shipments-surge-41-in-"> China's smartphone market</a>, while Huawei experienced a notable increase in smartphone shipments.
Apple&#8217;s market share in China dropped to 14% in the second quarter of 2024, a decline of two percentage points compared to the same period last year.
Check out more of&nbsp;Benzinga&#8217;s&nbsp;Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/news/24/09/40679223/mark-cuban-explains-why-despite-getting-a-lot-of-flak-from-elon-musk-and-others-he-continues-to-post?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Explains Why, Despite Getting A Lot Of Flak From Elon Musk And Others, He Continues To Post On X: ‘Don't Want to Be Where Everyone Agrees with Me'</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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The U.S. Food and Drug Administration (FDA) has issued a complete response letter for <a href="https://www.benzinga.com/topic/mdma-assisted-therapy">MDMA-assisted psychotherapy (MDMA-AT)</a> for treating post-traumatic stress disorder (PTSD) in which it calls for an additional phase 3 trial to further evaluate its safety and efficacy. As Psychiatric Times <a href="https://www.psychiatrictimes.com/view/with-mdma-on-hold-whats-next-for-psychedelics">reported</a>, this decision puts on hold what could have been a landmark approval for the treatment of PTSD with MDMA, also known as midomafetamine.
Despite the <a href="https://www.benzinga.com/markets/cannabis/24/08/40300943/fda-rejects-mdma-for-ptsd-treatment-calls-for-more-research-on-psychedelic-therapy">setback</a>, <a href="https://www.benzinga.com/topic/lykos-therapeutics">Lykos Therapeutics</a>, the company behind the MDMA-AT treatment, remains determined. Lykos has expressed confidence that the FDA's concerns could be addressed using "existing data, post-approval requirements or through reference to the scientific literature." Discussions between the company and the FDA are ongoing, as Lykos seeks a clear path forward.
<h3 class="wp-block-heading">Other Psychedelics In The Pipeline</h3>
While MDMA's future remains in question, several other psychedelic treatments continue to progress through clinical trials. Atai Life Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATAI#NASDAQ">ATAI</a>) recently announced promising results from a <a href="https://www.benzinga.com/markets/cannabis/24/08/40376236/atais-dmt-depression-drug-shows-promise-prepares-for-phase-ii-trial-and-future-collaboration-wit">phase 1b trial of VLS-01</a>, a buccal film formulation of N,N-dimethyltryptamine (DMT), for treatment-resistant depression (TRD). The next phase 2 study is expected to start by the end of 2024, focusing on safety, efficacy and durability of response.
Numinus Wellness (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NUMIF#OTC">NUMIF</a>), another key player in the psychedelic space, is <a href="https://www.benzinga.com/markets/cannabis/23/11/35548014/single-dose-of-cybins-psilocybin-shows-compelling-patient-outcomes-phase-2-results-find">moving forward with studies</a> involving Cybin's CYB003, a deuterated psilocybin molecule designed for treating moderate to severe depressive disorders. Meanwhile, Compass Pathways (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMPS#NASDAQ">CMPS</a>) is testing COMP360, a synthetic form of psilocybin, which <a href="https://www.benzinga.com/markets/cannabis/23/09/34291309/compass-pathways-explores-ai-powered-predictive-model-on-psilocybin-therapy-for-depression">has shown promising early results</a> in treating PTSD. These developments highlight the continued push toward psychedelic-assisted therapies for a range of psychiatric conditions.
<h3 class="wp-block-heading">Progress With LSD And Ketamine</h3>
MindBio Therapeutics (NASDAQU:MBIO) has also made strides with MB22001, <a href="https://www.benzinga.com/markets/cannabis/24/04/38512570/lsd-microdosing-for-pms-after-confirming-antidepressant-effects-clinical-trials-will-assess-if-i">a titratable microdosing form of LSD</a>, showing promise in phase 2a trials for major depressive disorder (MDD). They are investigating LSD's potential for treating other conditions like premenstrual dysphoric disorder and depression associated with cancer. MindMed is <a href="https://www.benzinga.com/markets/cannabis/22/08/28637136/mindmed-keeps-hitting-the-news-now-dosing-on-their-clinical-trial-on-lsd-for-anxiety">progressing with its own LSD compound</a>, MM-120, which has shown potential for treating generalized anxiety disorder (GAD), with a phase 3 trial set to begin this year.
Ketamine-based therapies are advancing as well, with Awakn Life Sciences (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AWAKNF#OTC">AWAKNF</a>) leading the charge in <a href="https://www.benzinga.com/markets/cannabis/23/06/32820420/awakn-to-focus-on-r-d-of-addiction-therapies-moves-away-from-ketamine-treatment-for-alcoholism">addressing alcohol use disorder</a>. Their MORE-KARE phase 3 trial is underway, testing the efficacy of ketamine infusions combined with psychosocial support.
<h3 class="wp-block-heading">Lykos And The Future Of MDMA</h3>
As the psychedelic field expands, all eyes are on Lykos Therapeutics as they navigate the FDA&#8217;s requirements for MDMA-assisted psychotherapy. The company has undergone a <a href="https://www.benzinga.com/markets/cannabis/24/08/40421048/lykos-therapeutics-strategic-reorganization-following-fdas-decision-rejecting-mdma-for-ptsd-trea">significant reorganization</a>, including a 75% reduction in workforce, and appointed Dr. David Hough as senior medical advisor to guide the next phase of clinical work. Hough has extensive experience in psychiatric drug development, having led successful projects such as Spravato.
Rick Doblin, PhD, founder of the Multidisciplinary Association for Psychedelic Studies (MAPS), has stepped down from Lykos to focus on public advocacy for global access to MDMA and other psychedelics. Doblin&#8217;s resignation from the Lykos Board comes as the company continues its dialogue with the FDA.
<h3 class="wp-block-heading">What's Next?</h3>
Despite the challenges facing <a href="https://www.benzinga.com/topic/mdma-assisted-therapy">MDMA-assisted psychotherapy</a>, the field of psychedelic research remains vibrant. With more than 185 clinical studies on psilocybin, 104 on MDMA and 58 on LSD ongoing according to clinicaltrials.gov, the future holds promise for these novel treatments. As companies continue their work, patients and researchers alike are hopeful that these therapies will become more widely available in the near future.
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