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IG Design Group PLC is a UK-based company that operates in a single segment of design, manufacture, and distribution of Celebrations, Craft and creative play, Stationery, Gifting, and 'Not-for-resale' consumable products. Its Celebrations products are greetings cards, gift wrap, Christmas crackers, gift bags, and partyware. Gifting items include food and non-food gifts, photo Frames and Albums, and Calendars. Its Craft product ranges include Ribbons and Trim, Sewing Patterns, Buttons, Needlecrafts, and Kids Craft lines. The not-For-resale category includes Paper Twist Handle Bags and Polaris. It operates in two geographical segments: DG Americas, which includes overseas operations; and DG International, which consists of the UK and associated Asian operations, Europe, and Australia.

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Leading cryptocurrencies slipped in overnight trading on Sunday after Bitcoin recorded its first-ever weekly close above $100,000.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-0.49%</td>
<td>$99,600.82</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-1.15%</td>
<td>$3,959.94</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>-1.21%</td>
<td>$0.4582</td>
</tr>
</tbody>
</table>
</figure>
What Happened: The world&#8217;s largest cryptocurrency rallied sharply during the evening, pushing above $101,000 before plunging below $100,000 overnight.&nbsp;
Ethereum also touched $4,000 before making a U-turn toward the $3,900 zone.
Bitcoin and Ethereum recorded declines in their market dominance, with the apex cryptocurrency's share dropping by as much as 4.45% in the last 24 hours. 
Cryptocurrency liquidations exceeded $222 million in the last 24 hours, with $149 million in leveraged long bets getting erased.
Bitcoin's Open Interest (OI) rose marginally by 0.26%. An increase in OI, coming alongside a fall in spot price, could indicate the addition of more short positions, typically seen as a bearish signal.
Indeed, the number of traders betting against Bitcoin surged as the Long/Short Ratio dipped from above 1 to 0.82 in the last 24 hours.
The market sentiment remained in the "Extreme Greed" region, per the Cryptocurrency Fear &amp; Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>Monero (XMR)</td>
<td>+9.07%</td>
<td>$219.91</td>
</tr>
<tr>
<td>dYdX (DYDX)</td>
<td>+7.19%</td>
<td>$2.61</td>
</tr>
<tr>
<td>Pep (PEPE)</td>
<td>+6.96%</td>
<td>$0.00002618</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.69 trillion, following a marginal increase of 0.88% in the last 24 hours.
Stock futures were flat Sunday overnight. The Dow Jones Industrial Average Futures was down 2 points at 7:50 a.m.&nbsp; Futures tied to the S&amp;P 500 dipped 25 points, while the Nasdaq 100 Futures slid just 0.03%.
Major averages like the S&amp;P 500 and the Nasdaq Composite recorded winning runs last week, gaining 0.83% and 2.59%, respectively, bolstered by a <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42363278/us-economy-adds-227000-jobs-in-november-wage-growth-accelerates">stronger-than-expected rebound in employment data</a> for November.
This week, investors will stay focused on the November consumer price index data, slated for release on Wednesday.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Well-known cryptocurrency analyst Rekt Capital highlighted a "momentous" occasion for Bitcoin as it recorded its first-ever weekly close above $100,000.
Van de Poppe urged his followers to hold on to their positions and buy dips.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> Momentous occasion for Bitcoin as it performs its first Daily Close above $100k ever Technically, the retest of $100k is now underway But this retest is so volatile that it is also a third consecutive retest of the major Daily resistance (red)<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/bavh2vbGJT">https://t.co/bavh2vbGJT</a> <a href="https://t.co/dItlJj49En">pic.twitter.com/dItlJj49En</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1865925532589736059?ref_src=twsrc%5Etfw">December 9, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Widely followed cryptocurrency analyst Mikybull Crypto noted Ethereum's upside breakout from a months-long range, predicting a move to $6,000 before a potential retest.
"The next phase of #ALTSEASON will follow afterward," the analyst remarked.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> has broken out Potential retest and then a $6k target &#x1f3af; The next phase of <a href="https://twitter.com/hashtag/ALTSEASON?src=hash&amp;ref_src=twsrc%5Etfw">#ALTSEASON</a> will follow afterward <a href="https://t.co/RmpzgDLEzu">https://t.co/RmpzgDLEzu</a> <a href="https://t.co/n8f3VrYLAo">pic.twitter.com/n8f3VrYLAo</a>
&mdash; Mikybull &#x1f402;Crypto (@MikybullCrypto) <a href="https://twitter.com/MikybullCrypto/status/1865922815813124569?ref_src=twsrc%5Etfw">December 9, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by Avi Rozen on Shutterstock
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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$BTC

$DOGE

$ETH

Bitcoin, Ethereum, Dogecoin Reverse After Advances: BTC Records Historic Weekly Close While Analyst Paints $6K Target For ETH

President-elect Donald Trump said on Sunday, that he has no immediate plans to remove Federal Reserve Chairman Jerome Powell after getting elected in November, marking a notable shift in his stance toward the central bank leader ahead of a crucial December Fed meeting.
What Happened: In an interview on NBC&#8217;s &#8220;Meet the Press with Kristen Welker&#8221; that aired Sunday, Trump <a href="https://www.nbcnews.com/meet-the-press/video/trump-says-his-proposed-tariffs-will-cost-americans-nothing-but-he-can-t-guarantee-anything-226489925905">responded</a> &#8220;No, I don&#8217;t think so&#8221; when asked about replacing Powell, though he added cryptically that Powell &#8220;would&#8221; step down if told to do so.
The comments come as markets closely watch the Fed&#8217;s upcoming Dec. 18 meeting, where traders see a 65% chance of another interest rate cut, according to CME FedWatch data. 
The Fed has already implemented two rate cuts in 2024 &#8211; a 50-basis-point reduction in September followed by a 25-basis-point cut in November.
Powell has firmly asserted his independence, recently stating he <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41849984/powell-brushes-off-trumps-removal-threat-economists-say-2026-could-be-his-last-stand">would not resign</a> if asked and emphasizing it&#8217;s &#8220;not permitted under the law&#8221; for a president to remove the Fed chair without cause. Legal experts note Fed governors can only be dismissed for misconduct or neglect of duty, not policy disagreements.
See Also: <a href="https://www.benzinga.com/24/12/42381587/bashar-al-assad-and-his-family-granted-asylum-by-russia-kremlin-source-says-always-spoken-in-favor-of-political-settlement">Bashar Al-Assad And His Family Granted Asylum By Russia: Kremlin Source Says &#8216;Always Spoken In Favor of Political Settlement&#8217;</a>
Why It Matters: The apparent detente follows years of criticism from Trump, who previously called Powell &#8220;the enemy&#8221; in 2019 and threatened removal after rate hikes in 2018. During the pandemic in March 2020, Trump claimed Powell made &#8220;bad decisions&#8221; but <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41849984/powell-brushes-off-trumps-removal-threat-economists-say-2026-could-be-his-last-stand">later praised emergency rate cuts</a>.
The relationship has drawn increased scrutiny after some Trump allies, including Sen. Mike Lee (R-Utah), called for bringing the <a href="https://www.benzinga.com/federal-reserve/24/11/41900128/trump-vs-powell-dec-18-fed-meeting-sets-stage-for-new-tensions">Fed under presidential control</a>. Tesla Inc. CEO Elon Musk, a major Trump donor, reposted Lee&#8217;s post on X.
Powell, originally <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42325788/fed-chair-powell-bitcoin-is-like-gold-just-virtual-and-digital">nominated by Trump in 2017</a> and reappointed by President Joe Biden, has recently made headlines discussing Bitcoin&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) role in markets, comparing it to &#8220;digital gold&#8221; while maintaining focus on traditional banking stability. 
He also described the U.S. economy as in &#8220;remarkably good shape&#8221; with 2.5% growth and <a href="https://www.benzinga.com/24/12/42324505/jerome-powell-says-us-economy-in-remarkably-good-shape-fed-can-be-little-more-cautious-with-interest-rates">inflation down to around 2.3%</a>.
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Photo: Courtesy of International Monetary Fund on Flickr
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Federal Reserve

TSLA

Donald Trump Shifts Stance On Jerome Powell, Says No Immediate Plans To Replace Fed Chair: 'I Don't Think So'

Maye Musk, Elon Musk&#8217;s mom, was on FOX Business recently. She <a href="https://www.youtube.com/watch?v=0Bjhlj8YvTU">talked</a> about her son&#8217;s friendship with Donald Trump, how people see billionaires and even sitting in on Elon's meetings. During her chat with host Stuart Varney, Maye shared some interesting thoughts about Elon Musk and how the media discusses him.
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Maye quickly noted that she likes &#8220;to sit in on meetings&#8221; with her son and other prominent figures like Vivek Ramaswamy. She gave a glimpse into these sessions, mentioning that they recently discussed <a href="https://www.benzinga.com/24/11/42140065/with-musk-and-ramaswamy-preparing-to-slash-entire-government-agencies-heres-which-departments-employ-the-most-americans-and-their-salaries">getting federal employees</a> back into the office. &#8220;Vivek and others were talking and said, first of all, come to work,&#8221; Maye remarked.
Maye expressed that federal employees should be productive if they want to justify their positions, asking, &#8220;If you haven't done anything in the past week, why are you there?&#8221;
Maye also discussed Elon Musk and President-elect Donald Trump&#8217;s friendship, saying, &#8220;It is nice for both of them to have fun. I respect him a lot and am happy that there&#8217;s a future for America now.&#8221;&nbsp;
See Also: It&#8217;s no wonder Jeff Bezos holds over $70 million in art — <a href="https://www.benzinga.com/money/masterworks">this alternative asset has outpaced the S&amp;P 500 since 1995, delivering an average annual return of 11.4%. Here&#8217;s how everyday investors are getting started.</a>
Another major point Maye Musk made was her dislike for the words &#8220;wealthy&#8221; and &#8220;billionaire.&#8221; She believes these labels are unjust and detract from Elon's accomplishments: &#8220;I don't like the word ‘wealthy' or ‘billionaire' because I think it is degrading. <a href="https://www.benzinga.com/personal-finance/24/11/41773588/elon-musks-mom-knew-he-was-a-genius-by-3-years-old-but-worried-hed-end-up-in-a-basement-now-hes-">I think he&#8217;s the genius</a> of the world.&#8221;
When asked about <a href="https://www.benzinga.com/startups/24/11/42235738/in-just-16-months-elon-musk-achieved-with-xai-what-took-openai-nearly-nine-years-to-accomplish">Elon's ongoing innovations</a>, she admitted she often tells him not to take on more projects. However, he usually ignores her advice–&#8221;Every time I am surprised and say don't take on something else and he doesn't listen to me.&#8221;
Maye also commented on the media&#8217;s treatment of Elon, taking particular aim at what she called the &#8220;dishonest Democrat media.&#8221; She claimed they've been trying to &#8220;break up the relationship&#8221; <a href="https://www.benzinga.com/24/12/42260398/how-a-potential-fallout-between-elon-musk-and-trump-could-impact-tesla-and-spacex-cathie-wood-weighs-in">between Elon and Trump</a> and will keep &#8220;hating everything&#8221; they do.
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The conversation wrapped up with Maye talking about her career and personal life. She spoke about her years as a model, her adventures in the Kalahari Desert and her work as a dietitian. She even joked with Stuart Varney about how often people recognize her because of her son. &#8220;Pretty much the whole restaurant stands up,&#8221; she said.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Elon&#39;s mom is on Fox buttering up her son and answering questions about whether anybody actually likes him. Cringe. <a href="https://t.co/6PkXlPCjYE">pic.twitter.com/6PkXlPCjYE</a>
&mdash; Aaron Rupar (@atrupar) <a href="https://twitter.com/atrupar/status/1861436033021145473?ref_src=twsrc%5Etfw">November 26, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
However, the interview did not come without its critics. Social media was quick to react, with many mocking the conversation. For example, Aaron Rupar tweeted: &#8220;Elon's mom is on Fox buttering up her son and answering questions about whether anybody likes him. Cringe.&#8221;
Maye&#8217;s enthusiasm for her son's accomplishments rubbed some viewers the wrong way, with many seeing her comments as over-the-top praise.
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Startups

Elon Musk's Mom Maye Says She Likes To 'Sit In On Meetings' With Her Son And Ramaswamy, Says 'Wealthy' And 'Billionaire' Are Degrading Words

Former Syrian President Bashar al-Assad and his family have been granted asylum by Russia, as revealed by a source from the Kremlin, according to Russia&#8217;s State-Owned News Agency TASS on Sunday.
What Happened: Assad and his family have now arrived in Moscow. The Kremlin source stated that the decision to offer them asylum was primarily influenced by humanitarian considerations.
See Also: <a href="https://www.benzinga.com/24/12/42377387/palantir-co-founder-joe-lonsdale-cheers-trumps-new-sec-pick-calls-out-gary-gensler-for-purposely-not-defining-crypto-rules?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Palantir Co-Founder Joe Lonsdale Cheers Trump&#8217;s New SEC Pick, Calls Out Gary Gensler For &#8216;Purposely&#8217; Not Defining Crypto Rules</a>
The source further emphasized Russia&#8217;s continual push for a political solution to the Syrian crisis. &#8220;Russia&nbsp;has always spoken in favor&nbsp;of a political settlement of&nbsp;the Syrian crisis. We insist&nbsp;that the UN-mediated talks be&nbsp;resumed,&#8221; the source said.
Moreover, the source disclosed that Russian&nbsp;officials are in touch with&nbsp;leaders of the armed Syrian opposition. These leaders have guaranteed the safety&nbsp;of Russian military bases and&nbsp;diplomatic missions in Syria.
Why It Matters: This move comes after Bashar Assad&#8217;s <a href="https://www.benzinga.com/news/global/24/12/42380085/trump-on-assads-fall-putin-was-not-interested-in-protecting-him-any-longer">fall from power</a> in Syria, ending his 24-year rule. President-elect Donald Trump had commented on Assad&#8217;s fall, stating that Putin was no longer interested in protecting him. 
&#8220;Assad is gone. He has fled his country,&#8221; Trump said in a post on his social media platform, Truth Social.
&#8220;They lost all interest in Syria because of Ukraine, where close to 600,000 Russian soldiers lay wounded or dead, in a war that should never have started, and could go on forever,&#8221; said Trump.
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Politics

General

Bashar Al-Assad And His Family Granted Asylum By Russia: Kremlin Source Says 'Always Spoken In Favor of Political Settlement'

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Sony Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNE#NYSE">SNE</a>) are reportedly joining hands to augment the gaming capabilities <a href="https://www.benzinga.com/news/24/11/41703695/if-you-invested-1-000-in-apple-a-decade-ago-heres-how-much-youd-have-now">of the Vision Pro</a>.
Bloomberg columnist&nbsp;Mark Gurman&nbsp;in his latest weekly &#8220;Power On&#8221; newsletter has said&nbsp;the enhancement will come through the addition of support for Sony&#8217;s PSVR2 controllers.
Gurman has <a href="https://www.bloomberg.com/news/newsletters/2024-12-08/apple-sony-talk-playstation-vr-ps-vr2-hand-controller-support-for-vision-pro?srnd=undefined&amp;sref=TBDibEcD">said </a>that the partnership was initially scheduled to be announced weeks prior but &#8220;will still come at some point — unless it gets abruptly scrapped.&#8221;
The collaboration entails Apple commencing the sale of Sony&#8217;s controllers, which are currently not available for individual purchase. Gurman believes this move could be a game-changer for Vision Pro users who are looking for an elevated gaming experience.
Sony has been diligently working on this support for several months, while Apple has been engaging with third-party developers to gauge their interest in using Sony&#8217;s VR controllers.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Apple approached Sony earlier this year, and the duo agreed to work together on launching support for the PlayStation VR2's hand controllers on the Vision Pro. Inside Sony, the work has been a monthslong undertaking, I'm told. And Apple has discussed the plan with third-party…
&mdash; Mark Gurman (@markgurman) <a href="https://twitter.com/markgurman/status/1865745460964827233?ref_src=twsrc%5Etfw">December 8, 2024</a></blockquote>
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Also Read: <a href="https://www.benzinga.com/news/24/06/39447797/apple-eyes-meta-for-potentially-game-changing-ai-partnership-report">Apple Eyes Meta For Potentially Game-Changing AI Partnership: Report</a>
Gurman hints that Apple&#8217;s plans for the controllers extend beyond gaming. The controllers could be utilized to navigate visionOS and offer more accurate controls in applications such as&nbsp;Final Cut Pro and Adobe&nbsp;Photoshop.
Despite potential concerns raised by the Vision Pro&#8217;s sales figures and Apple&#8217;s past relationships with game publishers, the unique nature of VR and the evident demand from the community suggest a promising future for this collaboration.
According to him, the partnership between Apple and Sony marks a significant step in the evolution of gaming on the Vision Pro. By integrating Sony&#8217;s PSVR2 controllers, Apple is not only enhancing the gaming experience but also expanding the functionality of the controllers to navigate its operating system and applications. 
This move could potentially attract more third-party developers to the platform, further enriching the ecosystem. The collaboration also indicates a shift in Apple&#8217;s approach towards gaming, hinting at a more inclusive and immersive gaming experience for its users.
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AAPL

Apple Eyes Sony Partnership For Game-Changing Vision Pro Upgrade

Standard Chartered&#8217;s Global Head of Digital Assets Research Geoff Kendrick says that Bitcoin&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) value could surge to $200,000 by the end of 2025.
What Happened: A research note by Kendrick released on Thursday indicates that Bitcoin&#8217;s recent rally, surpassing the $100,000 mark, is primarily driven by institutional investors.
These investors are increasingly drawn towards spot ETFs, while&nbsp;MicroStrategy, a firm with a focus on Bitcoin development, has been rapidly acquiring the asset.
Kendrick projects that institutional flows will&nbsp;continue at or above the&nbsp;current pace until 2025. He also suggests that regulatory changes&nbsp;under President-elect Donald Trump could&nbsp;potentially amplify these flows. 
"In 2025, we expect institutional flows to continue at or above the 2024 pace. Against this backdrop, we think our end-2025 Bitcoin price target around the $200,000 level is achievable," he said in the post. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42155010/bitcoins-bull-run-betting-on-a-125k-finish-to-2024">Bitcoin&#8217;s Bull Run: Betting On A $125K Finish To 2024</a>
MicroStrategy&#8217;s aggressive Bitcoin acquisition strategy, involving&nbsp;a $42 billion plan to&nbsp;purchase&nbsp;Bitcoin over the next three&nbsp;years using equity and debt,&nbsp;is progressing ahead of schedule, according to Kendrick. 
According to a report <a href="https://decrypt.co/295169/too-soon-bitcoin-200k-achievable-2025">by</a> Decrypt, the company&#8217;s Bitcoin holdings, currently valued over $40.5 billion, have increased by 150,000 Bitcoin since Election Day, marking a surge of over $15 billion.
Kendrick also predicts a rise in Bitcoin allocations by pension funds to spot Bitcoin ETFs&nbsp;in 2025. If U.S. retirement&nbsp;funds or global sovereign wealth&nbsp;funds also increase their allocations, Standard Chartered&#8217;s bullish stance on Bitcoin&#8217;s price could intensify even further.
Despite a recent dip, Bitcoin&#8217;s price&nbsp;remains above the $100,000 mark, fueling optimism among some analysts about the cryptocurrency&#8217;s short-term prospects.
Why It Matters: The predicted surge in Bitcoin&#8217;s value is significant as it indicates growing confidence in the cryptocurrency&#8217;s potential for high returns. 
The increased interest from institutional investors, coupled with regulatory changes, could potentially drive Bitcoin&#8217;s value even higher. MicroStrategy&#8217;s aggressive acquisition strategy further underscores the growing acceptance and adoption of Bitcoin as a viable investment. 
The potential increase in Bitcoin allocations by pension funds and global sovereign wealth funds could further solidify Bitcoin&#8217;s position in the investment landscape.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42049183/heres-how-a-bitcoin-whale-nets-179m-from-a-120-investment" target="_blank" rel="noreferrer noopener">Here's How A Bitcoin Whale Nets $179M From A $120 Investment</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

This Analyst Says Bitcoin Could Reach $200K By End of 2025

The recent appointment of&nbsp;David Sacks&nbsp;as the &#8220;White House A.I. and Crypto Czar&#8221; by President-elect Donald Trump has sparked a new chapter in the ongoing rivalry between&nbsp;billionaire Elon Musk&nbsp;and&nbsp;Sam Altman, head of OpenAI.
What Happened: On Friday, Musk took a swipe at Altman after the OpenAI chief congratulated Sacks on his new role.
Sacks, a venture capitalist and podcaster, has a history of collaboration with Musk, having worked with him at PayPal and invested in several of Musk&#8217;s ventures, including SpaceX, X (formerly known as Twitter), and xAI. 
His appointment is seen as a testament to Musk&#8217;s influence in the incoming administration. Altman has previously accused Musk of using his political influence to disadvantage competitors and promote his own businesses. 
Musk&#8217;s response to Altman&#8217;s congratulatory message to Sacks was a simple laughing emoji on X, further stoking their rivalry.
<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">&#x1f602;
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1864861352218497407?ref_src=twsrc%5Etfw">December 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Despite launching&nbsp;his own AI chat platform,&nbsp;Glue, Sacks asserts that his new role does not present a conflict of interest. His venture capital firm, Craft Ventures, has stated that his advisory role does not necessitate his departure from Craft.
Also Read: <a href="https://www.benzinga.com/tech/24/12/42257564/musk-goes-to-court-to-block-openais-for-profit-transition">Musk Goes To Court To Block OpenAI&#8217;s For-Profit Transition</a>
Trump announced Sacks&#8217;&nbsp;appointment on his Truth Social&nbsp;account, lauding his knowledge, business acumen, intelligence, and pragmatism in the realms of AI and cryptocurrency.
Why It Matters: The appointment of Sacks, a long-time ally of Musk, to a key role in the Trump administration could potentially tilt the balance of power in the AI and crypto sectors. 
This development is likely to intensify the rivalry between Musk and Altman, as both continue to vie for influence in these rapidly evolving fields.
Read Next
<a href="https://www.benzinga.com/news/24/03/37766544/elon-musk-is-feuding-with-sam-altman-in-a-major-lawsuit-over-openai-and-one-appears-to-already-have" target="_blank" rel="noreferrer noopener">Elon Musk Is Feuding With Sam Altman In A Major Lawsuit Over OpenAI — And One Appears To Already Have The Upper Hand</a>
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.

Tech

Musk-Altman Rivalry Intensifies With Trump's Appointment of David Sacks

It's easy to hear "net worth" and picture yachts, private jets and the Forbes list of billionaires. According to a Tearsheet report, 22% of Americans think net worth only <a href="https://www.benzinga.com/personal-finance/24/05/39069576/are-you-rich-heres-the-net-worth-you-need-to-be-poor-middle-class-and-wealthy">applies to the rich</a>. That's a big misconception. The truth is, net worth applies to everyone. It's not about how much money you flaunt; it's about knowing where you stand financially.
And here's another surprising stat: Credit Karma reports that 51% of Americans don't know how to calculate their net worth. That number jumps to 61% for women compared to 41% for men. Financial literacy gaps like this can make it harder to plan for the future, but don't worry – it's easier to understand than it sounds.
Don't Miss:
<ul>
<li>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/1milsaved"> The percentage may shock you</a>.</li>
<li>Many are using this retirement income calculator to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a></li>
<li><a href="https://www.benzinga.com/money/cd-valet-growth">CD Popularity Soars: Over 50 Million Americans Embrace Safe Savings with 5–10% Annual Growth</a></li>
</ul>
So, what exactly is net worth? And how do you figure it out? Let's break it down, look at the numbers and clear up some common myths about what "average" really means.
How to Calculate Your Net Worth
Your net worth is simply the difference between what you own (assets) and what you owe (liabilities).
Here's a quick example:
<ul>
<li>Assets: This includes everything from your house, car and retirement accounts to smaller items like savings or investments. Let's say you have $800,000 in total assets.</li>
<li>Liabilities: These are your debts – things like student loans, mortgages, credit card balances or car loans. If your debts total $200,000, you'd subtract that from your assets.</li>
</ul>
Net worth = $800,000 (assets) – $200,000 (liabilities) = $600,000
That's it. No need for fancy math or high-end accounting software. A simple calculator will do.
See Also: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."<a href="https://www.benzinga.com/money/warren-buffet-make-money-when-you-sleep"> Here&#8217;s how you can earn passive income with just $100.</a>
The Difference Between Average and Median Net Worth
Now, when it comes to <a href="https://www.benzinga.com/24/11/42173927/how-rich-are-you-find-out-whether-you-rank-as-upper-middle-or-lower-class-based-on-income-and-other-factors">financial stats</a>, there's always confusion between "average" and "median." They sound similar but paint very different pictures:
Average Net Worth: This is the total net worth of a group divided by the number of people in that group. It tends to be skewed by a handful of ultra-wealthy individuals.
Median Net Worth: This represents the middle point – half of people have more and half have less. It's often a more realistic snapshot of how most people are doing.
Here's why it matters: The average net worth of U.S. households in 2022 was $1,059,470, but the median was just $192,700. That's a huge gap, highlighting how a few ultrarich people pull the average way up while most people sit closer to the median.
Trending: Studies show 50% of consumers think Financial Advisors cost much more than they do —<a href="https://www.benzinga.com/money/money-pickle"> to debunk this, this company provides matching for free and a complimentary first call with the matched advisor.</a>
Average Net Worth by Age
If you're wondering how your net worth stacks up, it helps to look at the averages and medians by age group. Here's what the Federal Reserve found in its latest Survey of Consumer Finances:
In Your 20s:
<ul>
<li>Average Net Worth: $120,896</li>
<li>Median Net Worth: $10,800</li>
</ul>
In Your 30s:
<ul>
<li>Average Net Worth: $379,681</li>
<li>Median Net Worth: $115,500</li>
</ul>
In Your 40s:
<ul>
<li>Average Net Worth: $686,320</li>
<li>Median Net Worth: $173,650</li>
</ul>
In Your 50s:
<ul>
<li>Average Net Worth: $1,287,303</li>
<li>Median Net Worth: $296,750</li>
</ul>
In Your 60s and Beyond:
<ul>
<li>Average Net Worth: $1,714,085</li>
<li>Median Net Worth: $394,300</li>
</ul>
Notice the jump in net worth as people get older? That's mostly due to years of saving and paying off debt. It's also a reminder that comparing your net worth to someone decades older can be unfair.
Trending: The number of ‘401(k)' Millionaires is up 43% from last year —<a href="https://www.benzinga.com/money/401k-millionaires"> Here are three ways to join the club.</a>
How Do You Measure Up? And Why Percentiles Matter
If you want an even clearer picture of where you stand, it helps to look at net worth percentiles. These show how your net worth compares to others in the same age group.
For example, if your net worth is in the 75th percentile, you're wealthier than 75% of people in your age group. Here's a breakdown of the 75th percentile by age:
• Under 35: $153,000
• 35-44: $415,000
• 45-54: $800,000
• 55-64: $1.122 million
• 65-74: $1.176 million
• 75 and up: $975,000
And for those overachievers aiming for the <a href="https://www.benzinga.com/personal-finance/24/07/39800314/are-you-rich-enough-to-join-the-top-5-of-households-you-may-be-wealthier-than-you-realize">top 10%</a>, here's what it takes to hit the 90th percentile:
• Under 35: $350,000
• 35-44: $850,000
• 45-54: $1.6 million
• 55-64: $2.5 million
• 65-74: $2.8 million
• 75 and up: $2 million
Trending: These five entrepreneurs are worth $223 billion –<a href="https://www.benzinga.com/money/arrived-homes-private-credit-fund"> they all believe in one platform that offers a 7-9% target yield with monthly dividends</a>
Why Knowing Your Net Worth Matters
Tracking your net worth isn't just for bragging rights – it's a practical tool for managing your finances. It helps you:
<ol>
<li>Set realistic financial goals, like saving for retirement or paying off debt.</li>
<li>Spot trends over time to see if you are building wealth or losing it?</li>
<li>Make smarter decisions about spending, saving and investing.</li>
</ol>
And no, you don't need to be rich to do this. In fact, the earlier you start tracking, the better equipped you'll be to grow your wealth over time.
The Takeaway
Net worth isn't just a number – it's a snapshot of your financial health. And while the stats on averages, medians and percentiles might seem intimidating, they're tools to help you measure progress.
So, forget the myth that net worth is only for the ultrarich. It's for anyone who wants to take control of their financial future. Start with what you own, subtract what you owe and go from there. You might be surprised by what you discover.
If you're serious about staying on track to meet your financial goals, <a href="https://www.benzinga.com/money/can-you-guess-how-many-americans-successfully-retire-with-1-million-saved">consulting a financial advisor</a> could be one of the smartest moves you make. A good advisor can help you examine your net worth, identify growth opportunities and create a personalized plan to reach your short- and long-term goals.
Read Next:
<ul>
<li>Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.</li>
<li>Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." <a href="https://www.benzinga.com/money/connect-invest-real-estate-notes">These high-yield real estate notes that pay 7.5% &#8211; 9% make earning passive income easier than ever.</a></li>
</ul>

Personal Finance

22% Of People Think 'Net Worth' Only Applies To The Rich – Here's The Average Net Worth And How To Calculate Yours

Crypto analyst and pseudonymous trader Dave the Wave has predicted a potential surge in Bitcoin&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) price before Christmas, citing a favorable technical setup.
What Happened:&nbsp;The crypto analyst shared his thoughts on the social media platform X and said that Bitcoin is in an ascending channel. He predicts a possible upward target of around $112,000 by December 25th.
Dave the Wave, who accurately predicted the 2021 market collapse, suggests that Bitcoin&nbsp;is also trading within a&nbsp;longer-term ascending channel,&nbsp;similar to the 2021 bull&nbsp;market. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">A pre-Xmas day <a href="https://twitter.com/hashtag/btc?src=hash&amp;ref_src=twsrc%5Etfw">#btc</a> rally?&#x1f60e; <a href="https://t.co/pdG0r3GmaL">pic.twitter.com/pdG0r3GmaL</a>
&mdash; dave the wave&#x1f30a;&#x1f313; (@davthewave) <a href="https://twitter.com/davthewave/status/1865176353668276725?ref_src=twsrc%5Etfw">December 6, 2024</a></blockquote>
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</figure>
His analysis indicates that Bitcoin could reach between $180,000 and $220,000&nbsp;in the first half of&nbsp;2025.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> &#x1f62c; <a href="https://t.co/UKA6wvwsj6">pic.twitter.com/UKA6wvwsj6</a>
&mdash; dave the wave&#x1f30a;&#x1f313; (@davthewave) <a href="https://twitter.com/davthewave/status/1864924570307993907?ref_src=twsrc%5Etfw">December 6, 2024</a></blockquote>
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</figure>
The trader also expressed optimism for&nbsp;altcoins, noting that Bitcoin dominance&nbsp;(BTC.D), a measure of Bitcoin&#8217;s share&nbsp;of the digital asset market, appears set to decline, implying a potential rise in altcoins.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42154900/crypto-expert-who-called-2022-market-crash-warns-about-bitcoin">Crypto Expert Who Called 2022 Market Crash Warns About Bitcoin</a>
Why It Matters: Dave the Wave&#8217;s analysis is based on the idea that Bitcoin operates in four-year cycles. If BTC&#8217;s past price action is mirrored, a parabolic move could be imminent. 
This prediction is significant as it could influence the investment strategies of crypto traders and investors. At the time of the report, BTC was trading at $100,102.
Given the volatility of the crypto market, these predictions should be considered with caution. However, they do provide valuable insights into possible market trends and can serve as a guide for investors navigating the crypto space.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42379899/trump-fuels-bitcoin-rally-but-where-will-it-go-next-year">Trump Fuels Bitcoin Rally, But Where Will It Go Next Year?</a>
Image: Shutterstock

Crypto Analyst Foresees Pre-Christmas Bitcoin Price Surge

Agios Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGIO#NASDAQ">AGIO</a>), a leader in cellular metabolism and pyruvate kinase (PK) activation pioneering therapies for rare diseases, today presented positive results from the Phase 3 ENERGIZE-T study investigating mitapivat, an oral, small molecule PK activator, in adults with transfusion-dependent alpha- or beta-thalassemia. These findings were shared in an oral presentation (abstract #409) at the 66th American Society of Hematology (ASH) Annual Meeting and Exposition in San Diego, California.
In the ENERGIZE-T trial, mitapivat demonstrated a statistically significant reduction in transfusion burden compared to placebo in patients with transfusion-dependent alpha- or beta-thalassemia, achieving its primary endpoint. Additionally, the ENERGIZE-T study met all the key secondary endpoints, with mitapivat demonstrating a statistically significant reduction in additional measures of transfusion reduction response compared to placebo. In June 2024, Agios also <a href="https://www.globenewswire.com/Tracker?data=yCZIHDR8PSvrAcYmrbhYVzXtz0qOrlBEmNLt7nN_xw6pl1Mj2AXdoy1h6DGsnSHtC9uUFdnfS-kmUwx8-iSnaOJkdU3hjhRmj1SJM6ZrLFO6iwRjg8fcimCj7_cSLjAcTUnWPq0clc5THhnffh8TSuew3ZJSODjBe9FO6EN8DPbro4Y_f9jLQwMPuUlNC79JIOX2IXMP3L7atf5mK8ExdWvum1h8-Fgpguku085aOMQ=">presented positive results</a> from the Phase 3 ENERGIZE study, which evaluated mitapivat in adults with non-transfusion-dependent alpha- or beta-thalassemia.

AGIO

Agios Presented At ASH, Results From Phase 3 ENERGIZE-T Study of Mitapivat; Study Achieved Primary, All Key Secondary Endpoints In Adult Patients with Transfusion-Dependent Alpha- or Beta-Thalassemia

Philip Grillo brazenly taunted a judge following his sentencing for his role in the January 6, 2021, Capitol riot, expressing his confidence that President-elect Donald Trump will pardon him.
What Happened: A tense scene unfolded on Friday when Senior Judge Royce Lamberth of the U.S. District Court for the District of Columbia sentenced Grillo on five charges, including a felony for obstruction of an official proceeding, along with several misdemeanors.
According to the report <a href="https://edition.cnn.com/2024/12/06/politics/january-6-rioter-trump-pardon/index.html">by</a> CNN, after receiving his sentence of one year in prison and one year of supervised release, Grillo taunted the judge, proclaiming, &#8220;Trump&#8217;s gonna pardon me anyways!&#8221;
Grillo&#8217;s immediate imprisonment was an unusual occurrence in such cases. As Grillo was being taken into custody, he reiterated his conviction of receiving a pardon once Trump takes office.
Also Read: <a href="https://www.benzinga.com/news/24/11/42024693/bill-clinton-recalls-trumps-actions-on-january-6">Bill Clinton Recalls Trump&#8217;s Actions On January 6</a>
Grillo&#8217;s friends, who were present in the court and identified themselves as Republican Party officials from the Bronx and Queens, supported his assertion, shouting, &#8220;Don&#8217;t worry, Phil. Donald&#8217;s gonna take care of you.&#8221;
Trump has previously expressed his intent to pardon those involved in the Capitol riot, referring to them as &#8220;unbelievable patriots.&#8221;
Why It Matters: Grillo&#8217;s audacious taunt underscores the deep divide and ongoing political tension in the U.S. following the Capitol riot. 
His belief in a pardon from Trump, despite the former President&#8217;s lack of legal authority to do so, highlights the enduring influence of Trump on his supporters. 
This incident also raises questions about the potential implications for future cases related to the Capitol riot, as it may encourage other defendants to adopt a similar stance.
Read Next
<a href="https://www.benzinga.com/news/23/08/33806596/trump-refuses-to-pledge-compliance-with-judges-order-in-jan-6-case-the-whole-thing-is-a-fake" target="_blank" rel="noreferrer noopener">Trump Refuses To Pledge Compliance With Judge's Order In Jan. 6 Case: ‘The Whole Thing Is A Fake'</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Wikimedia Commons

Convicted January 6 Rioter: 'Trump's Gonna Pardon Me Anyways!'

Merck (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>), known as MSD outside of the United States and Canada, today announced the first presentation of data from the Phase 2 waveLINE-007 trial evaluating zilovertamab vedotin, Merck's investigational antibody drug conjugate (ADC) that targets receptor tyrosine kinase-like orphan receptor 1 (ROR1), in combination with cyclophosphamide, doxorubicin and prednisone plus rituximab (R-CHP) for the treatment of patients with previously untreated diffuse large B-cell lymphoma (DLBCL). At a pre-planned analysis, zilovertamab vedotin in combination with R-CHP achieved a 100% (n=15) complete response (CR) rate in patients treated with zilovertamab vedotin at 1.75 mg/kg. Based on the data, the study has established 1.75 mg/kg as the recommended Phase 3 dose of zilovertamab vedotin. These data are being presented for the first time today in an oral presentation (Abstract #578) at the 66th American Society of Hematology (ASH) Annual Meeting and Exposition.

Merck's Investigational Zilovertamab Vedotin In Combination With R-CHP Demonstrates Complete Response Rate of 100% At 1.75 MG/KG Dose In Phase 2 Trial Of Previously Untreated Patients With Diffuse Large B-Cell Lymphoma

C4 Therapeutics, Inc. (C4T) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCCC#NASDAQ">CCCC</a>), a clinical-stage biopharmaceutical company dedicated to advancing targeted protein degradation science, today presented clinical data from the ongoing Phase 1 trial of cemsidomide, an orally bioavailable small molecule degrader of IKZF1/3, at the ASH Annual Meeting. Presentations included a poster highlighting results for cemsidomide in combination with dexamethasone in multiple myeloma, and an oral presentation delivering initial results for cemsidomide as a monotherapy for non-Hodgkin's lymphoma. These presentations reinforce the potential of cemsidomide to become a backbone therapy of choice in both multiple myeloma and non-Hodgkin's lymphoma where IKZF1/3 degradation is warranted.
In Multiple Myeloma, Cemsidomide in Combination with Dexamethasone at Highest Dose Level Explored to Date Achieved 36 Percent Overall Response Rate (ORR) and 45 Percent Clinical Benefit Rate (CBR); Responses Seen Across All Dose Levels
Multiple Myeloma Arm Demonstrated Well-Tolerated Safety Profile; On-Target Neutropenia Was Manageable With Low Rates of Febrile Neutropenia and Infections; No Treatment Emergent Adverse Events Leading to Dose Reduction
In Non-Hodgkin's Lymphoma, Cemsidomide Monotherapy Demonstrated a 38 Percent ORR and 19 Percent Complete Metabolic Response (CMR) Rate Across All Subtypes; In Peripheral T-Cell Lymphoma (PTCL), Cemsidomide Achieved a 44 Percent ORR and 25 Percent CMR Rate
Cemsidomide is Well Positioned for Future Development in Multiple Myeloma Combination Regimens and Various Non-Hodgkin's Lymphoma Subtypes and Therapeutic Regimens to Unlock Potential in Growing Markets
&nbsp;

CCCC

C4 Therapeutics Presented Cemsidomide Phase 1 Data At ASH Meeting; Said In Multiple Myeloma, Cemsidomide in Combination with Dexamethasone at Highest Dose Level Explored to Date Achieved 36% ORR, 45% CBR; In Non-Hodgkin's Lymphoma, Cemsidomide Monotherapy Demonstrated 38% ORR, 19% CMR

StraitsX is the creator of XSGD, the first Singapore Dollar stablecoin globally, and XIDR, the Indonesian Rupiah stablecoin. As a Major Payment Institution in Singapore, StraitsX empowers users to manage payments seamlessly and integrate their accounts with digital asset platforms.
Benzinga recently spoke with StraitsX co-founder Tianwei Liu to delve into the origins of StraitsX, the transformative role of stablecoins in cross-border payments, his outlook on the future of stablecoins and digital payments, and much more.
What inspired you to co-found StraitsX, and how did you identify the need for stablecoins like XSGD and XIDR in Southeast Asia?
The inspiration behind StraitsX dates back to when I was sent to Silicon Valley for a student exchange with Standford University while working full-time at a local startup. Back then, I was a software engineer, training in computer science and this gave me my first taste of building something from scratch and working in a fast-paced environment. It was exactly during this time that Amazon launched the first edition of the Kindle which led to many of my friends asking if I could purchase it on their behalf and ship it back to Singapore from the United States. However, problems arose when they couldn't figure out a way to pay me because I was overseas for a long period of time and digital payment apps like PayPal weren't available in Asia. This was when I realized the gap in the market and set out to create an API to solve this problem —&nbsp;and that is the founding story of StraitsX (previously known as Xfers).
In Southeast Asia, one of the biggest problems we are facing is a bank penetration problem, but I believe that we have made significant improvements as an industry with new entrants joining the space. At StraitsX, we've always been at the forefront of troubleshooting this problem that's why we were intentional with our decision to launch the first Singapore dollar and Indonesian Rupiah-pegged stablecoins, XSGD and XIDR.
Can you explain how Project Orchid and Purpose Bound Money are shaping the future of digital currencies in Singapore? The APAC region is poised to see a 230% increase in real-time payments network volume, reinforcing its position as the world's most forward-looking region. This growth is driven by the region's dynamic economic landscape and the accelerating adoption of digital finance solutions. In fact, digital asset payments in Singapore alone neared US$1 billion<a href="https://www.chainalysis.com/blog/2024-global-crypto-adoption-index/"> </a>in the second quarter of 2024, signaling a rise in adoption. When it comes to Purpose Bound Money (PBM), it is a protocol that specifies the conditions upon which an underlying digital currency such as stablecoins can be used, and the use cases range across various purposes including e-commerce, contracts, donations, and even cross-border payments. By automating business logic behind payments and reducing the need for traditional processes, PBM enhances efficiency, transparency, and trust in the digital asset ecosystem. 
With a large population and increasing digitization, there is fertile ground for digital financial services in the APAC region. To fully harness the potential of real-time payments and digital currencies, all stakeholders must collaborate to architect an industry that supports financial inclusion by allowing emerging markets to tap into new revenue streams. How does StraitsX differentiate itself from other payment infrastructures in the digital assets space across Southeast Asia? In Southeast Asia where economic growth is rapid but financial inclusion varies across different markets, stablecoins offer an accessible and affordable solution for cross-border payments. By leveraging blockchain technology, StraitsX provides close to instantaneous, low-cost transaction rates, effectively eliminating inefficiencies of traditional payment systems. Our main differentiating factor lies in our close collaboration with industry leaders and regulators. This includes our involvement in the Monetary Authority of Singapore (MAS) projects and partnerships with industry leaders like Grab and Ant International. Through our involvement in MAS' Project Orchid, we commenced our partnership with Grab and Ant International to launch a network that makes cross-border payments seamless for tourists and businesses alike, expanding the utility of digital payments across borders and driving new revenue streams for merchants. Regulatory compliance is another element that differentiates us from other payment infrastructure providers in the evolving digital asset landscape. Our commitment to remaining compliant not only ensures a secure and trusted infrastructure for our users but has also earned us a "stamp of approval" from regulators. I believe that staying on course on the regulations front is critical to building trust within the financial services landscape. In my opinion, this is the best way to encourage greater user adoption.  Ultimately, our long-term goal is to bridge the gap between TradFi and DeFi, empowering underserved communities to participate in the global trade ecosystem. The large underserved communities in Southeast Asia have been overlooked for far too long. Since our founding, we've made a concerted effort to pave the way for a more inclusive and resilient financial ecosystem for all — one that allows individuals and businesses in Asia to thrive.
What role does the Monetary Authority of Singapore (MAS) play in your vision for the future of stablecoins and digital payments in the region? MAS' forward-thinking approach to digital assets has created an environment that is conducive to digital asset innovation and adoption. By striking a balance between regulation and innovation, MAS has established a blueprint for successful and sustainable growth in this sector. This has encouraged banks to embrace new technology and fintech startups to embark on their respective projects as boundaries for responsible innovation have been set in stone. A robust, secure, and efficient infrastructure for digital assets is essential as Singapore works towards building a corridor that is interoperable with various payment and settlement networks in the wider payments landscape. At an individual level as a fintech, our responsibility lies in ensuring that our solutions provide fast and safe access to digital assets, the best possible user experience, and platform security. At StraitsX, we believe that regulatory compliance will be a significant factor that determines the future of stablecoins and digital payments in the region, especially for an industry that is still relatively nascent. Since our inception, we've been working closely with regulators to launch our stablecoins and build our API, to ensure they meet the highest industry standards. As a result of our commitment, we received full approval from the MAS as a Major Payment Institution licensed for digital payment token services. With this license, we are authorised to issue stablecoins that are aligned with the upcoming MAS stablecoin regulatory framework. 
How do StraitsX stablecoins like XSGD and XIDR provide value to personal and business account holders, and what real-world use cases have you seen emerging?
Collectively as a region, APAC is leading in the digital payments space, accounting for 70% of global digital wallet spending at $9.8 trillion, signaling that there is evidently a compelling value proposition for its users, both individual and small businesses. With the unrivalled stability from being pegged to fiat currencies, stablecoins ensure predictable value, making them a secure alternative to traditional currencies especially in markets with volatile economies. Moreover, StraitsX stablecoins facilitate swift and efficient transactions, proving invaluable for small businesses and individuals who require instantaneous settlement. Beyond speed, these stablecoins also boast competitive transaction fees, making them a cost-effective choice for various financial activities. Their global accessibility further expands their utility, as they can be used for international payments, reducing the need for currency conversions and associated costs.
For Singapore, the decision came about because the market receives a considerable number of tourists every year — 13.6 million in 2023. To make their overall experience as seamless and hassle-free as possible, launching a digital payment solution was a natural next step for travelers. Through our partnership with Grab and Ant International, tourists visiting Singapore whose native digital wallets are housed under AliPay+ will be able to pay using the wallets they&#8217;re most familiar with at any Grab merchant without having to carry cash or worry about credit card exchange rates since all transactions will be settled on the backend with the XSGD.
Through these benefits and by addressing real-world needs, StraitsX stablecoins are empowering individuals and businesses to transact more efficiently and securely in the digital age. As we continue to innovate and expand their use cases, we envision a future where StraitsX stablecoins play a pivotal role in shaping the digital economy.

Interview

StraitsX Co-Founder Liu: We Envision a Future Where Stablecoins Play a Pivotal Role In the Digital Economy

Billionaire entrepreneur&nbsp;Mark Cuban&nbsp;has opened up about his path to success and his unique <a href="https://www.benzinga.com/personal-finance/24/12/42341972/mark-cuban-hands-out-35m-in-bonuses-to-mavericks-employees-it-was-life-changing-money">spending habits in a recent interview.</a>
What Happened: Despite his billionaire status, Cuban confessed that he is not one to splurge. However, he did indulge in a house and a plane when he first tasted success. Since then, his spending habits have been more conservative. Cuban believes that a part of his success can be attributed to luck. 
Speaking <a href="https://people.com/mark-cuban-is-not-a-big-spender-but-splurged-on-this-when-he-first-made-money-exclusive-8757841">with</a> People, Cuban said, &#8220;I was born at the right time so that when the internet technology really took off, we were able to start AudioNet, which turned into Broadcast.com, which turned into the first streaming company, which went public and I could turn around and sell for $5.7 billion in stock.&#8221;
"When I first made money I did go out and buy things, I bought a house, bought a plane," he told the outlet. "But since then, I literally even had a conversation with my wife not long ago that, ‘Okay, we&#8217;re allowed to go out and buy some stuff, so if we want to, let&#8217;s go look at things.' But I&#8217;m not a big spender," Cuban added. 
Also Read: <a href="https://www.benzinga.com/news/24/11/41703723/mark-cubans-million-dollar-advice-to-teens-if-i-were-16-again-id-start-this-lucrative-side-hustle">Mark Cuban&#8217;s Million-Dollar Advice To Teens: &#8216;If I Were 16 Again, I&#8217;d Start This Lucrative Side Hustle&#8217;</a>
He also stressed the significance of resilience in the face of failure. &#8220;It&nbsp;doesn&#8217;t matter how many times&nbsp;you fail, you only have&nbsp;to be right once, then&nbsp;everybody can call you an&nbsp;overnight success,&#8221; he stated.
Today, Cuban&#8217;s approach to business has evolved. He avoids phone calls and conducts business primarily via email. He also gives credit to his wife, Tiffany Stewart, for a large part of his success, emphasizing the importance of a strong partnership in both business and personal life.
Why It Matters: Mark Cuban&#8217;s journey provides valuable insights into the mindset and habits of successful entrepreneurs. His frugality, despite his wealth, is a testament to his disciplined approach to financial management. His acknowledgment of the role of luck in his success is a humble reminder that timing and opportunity often play a crucial role in entrepreneurial success.
His emphasis on resilience and the importance of being right just once offers a fresh perspective on dealing with failure. It serves as a reminder that success is not always a linear path and that failures can often lead to greater opportunities.
Finally, Cuban&#8217;s shift to conducting business primarily via email and his acknowledgment of the role of his wife in his success highlight the importance of adapting to changing circumstances and the value of strong personal relationships in achieving success.
Read Next
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Success Stories

Mark Cuban Shares The One Thing He Splurged On After Striking It Rich: 'I'M Not A Big Spender'

Massachusetts' average revenue per dispensary dropped to $362k/month, down 8% year-over-year, in New Mexico sales went down 3% in November.
The cannabis industry continues to show mixed results across key U.S. markets, with notable developments in California, Massachusetts, and New Mexico. While California leads in tax revenue, both Massachusetts and New Mexico face slight declines in sales, reflecting broader market shifts.
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</ul>
<h3 class="wp-block-heading">Massachusetts: A Saturated Market? </h3>
In Massachusetts, legal cannabis sales totaled $152 million in November 2024, a 1% decrease from October but a 4% increase from November 2023. On a quarter-to-date basis, sales totaled $305 million for October and November, marking a 5% decline from the prior quarter. 
The average price per gram fell to $4.58, the lowest since 2020.&nbsp;
Average revenue per dispensary dropped to $362k/month (down 2% from the prior month and 8% year-over-year). Notable companies operating in <a href="https://www.benzinga.com/topic/massachussetts-cannabis">Massachusetts </a>include AYR Wellness (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AYRWF#OTC">AYRWF</a>), Curaleaf (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>) and Green Thumb Industries (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTC">GTBIF</a>), contributing to this market's competitive landscape.
&#8220;The average price per gram was $4.58 in November, the lowest since we began tracking in January 2020. There were 379 operating dispensaries at the end of November, indicating an average revenue of $362k per dispensary (or approximately $4.3M/year). We note that this is down 2% m/m and 8% y/y from $4.7M/year (or $394k) in November 2023, with the decline attributable to the addition of 53 dispensaries y/y,&#8221; reads a recent <a href="https://beaconsecurities.ca/">report</a> from <a href="https://www.benzinga.com/topic/beacon-securities-limited">Beacon Securities</a>.
<h3 class="wp-block-heading">New Mexico</h3>
<a href="https://www.benzinga.com/topic/new-mexico-cannabis">New Mexico's cannabis market</a> showed slight sales fluctuations in November, with total sales of $48 million, down 2% from October but up 3% from the previous year. Quarter-to-date sales were $96 million, a 5% decrease from the July-August period. 
The average revenue per dispensary remained stable at approximately $70k/month. Notably, Schwazze (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SHWZ#OTC">SHWZ</a>) is a key player in the state, contributing to the overall market dynamics. Adult-use transactions averaged $39, while medical cannabis sales averaged $48 per transaction.
Read Also: <a href="https://www.benzinga.com/24/12/42350875/ho-ho-holy-smokes-record-weed-sales-drive-dispensaries-to-stock-smart-this-holiday-season">Ho-Ho-Holy Smokes! Record Weed Sales Drive Dispensaries To Stock Smart This Holiday Season</a>
<h3 class="wp-block-heading">California: Strong Q3 Revenue Despite Declining Cultivation Tax</h3>
<a href="https://www.benzinga.com/topic/california-cannabis">California's cannabis</a> tax revenue for the third quarter of 2024 reached $250.5 million, with $148.4 million from excise taxes and $102 million from sales tax. This brings the state's total cannabis tax revenue since 2018 to over <a href="https://www.cdtfa.ca.gov/news/24-14.htm">$6.5 billion</a>.
Revenue from cannabis excise taxes supports a range of programs, including childcare, medical research, and youth substance abuse prevention. Despite the elimination of the cultivation tax in July 2022, the market remains a significant financial contributor to the state.
Read Next: <a href="https://www.benzinga.com/24/12/42367403/illinois-cannabis-sales-back-on-track-in-october-hitting-1423m-after-slight-september-dip">Illinois Cannabis Sales Back On Track In October Hitting $142.3M After Slight September Dip</a>

Cannabis

Market Summary

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Entrepreneurship

Retail Sales

Small Cap

Management

AYRWF

CURALEAF HLDGS INC by Curaleaf Hldgs Inc.

CURLF

GTBIF

SHWZ

Why Cannabis Sales Are Down In Massachusetts And New Mexico: The Numbers Behind The Dip

Quantum computing stocks are experiencing a significant surge, driven by industry advancements, key partnerships, and <a target="_blank" href="https://www.benzinga.com/trading-ideas/movers/24/11/42169669/quantum-industry-stocks-soar-whats-behind-the-d-wave-quantum-computing-and-ionq-gains" rel="noreferrer noopener">growing investor enthusiasm.</a>
This emerging tech sector is gaining momentum, with vast potential in fields like drug discovery, cryptography, and artificial intelligence, positioning quantum computing as a major focus for investors.
One standout performer is D-Wave Quantum Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QBTS#NYSE">QBTS</a>), which has seen a remarkable 246% increase in its stock value over the past month, according to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>.
Recently, D-Wave CEO Alan Baratz appeared on Fox Business&#8217; Making Money with Charles Payne, where he discussed the company&#8217;s pioneering <a target="_blank" href="https://www.dwavesys.com/company/newsroom/press-release/d-wave-ceo-dr-alan-baratz-discusses-emergence-of-commercial-quantum-computing/" rel="noreferrer noopener">work</a> in quantum computing.
D-Wave specializes in annealing quantum computing, a technology particularly well-suited for solving optimization problems prevalent across industries.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/11/42153356/is-warren-buffett-preparing-for-a-market-downturn-with-berkshire-hathaways-325b-cash-pile-analys" rel="noreferrer noopener">Is Warren Buffett Preparing For A Market Downturn With Berkshire Hathaway's $325B Cash Pile? Analyst Says Internet Bubble And 2008 Crash May Have Lessons</a>
On November 25, B. Riley Securities maintained the Buy rating on D-Wave, <a target="_blank" href="https://www.benzinga.com/quote/QBTS/analyst-ratings" rel="noreferrer noopener">raising the price forecast to $4.5 from $3.75.</a>
Recently, D-Wave participated in the <a target="_blank" href="https://www.benzinga.com/trading-ideas/movers/24/12/42371965/d-wave-quantum-shares-are-up-today-whats-going-on" rel="noreferrer noopener">Quantum Technologies Forum at the University of Southern California (USC).</a>
During the event, D-Wave highlighted advancements in its annealing quantum computing technology and presented practical use cases from commercial and research clients. Notably, USC hosts a D-Wave Advantage quantum system, emphasizing the company&#8217;s foothold in both academic and enterprise applications.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, QBTS stock has gained over 517% year to date. Investors can gain exposure to the stock via&nbsp;Defiance Quantum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QTUM#NASDAQ">QTUM</a>).
Let&#8217;s explore the driving forces behind this surge and take a closer look at three other leading companies in the quantum computing space:
Rigetti Computing, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>): RGTI stock has gained over 206% in the past month.
On November 25, B. Riley Securities reiterated the Buy rating on the stock, <a target="_blank" href="https://www.benzinga.com/quote/rgti/analyst-ratings" rel="noreferrer noopener">raising the price forecast to $4 from $3.5.</a>
Last month, the company entered into agreements with two institutional investors to sell 50 million shares of its common stock at $2.00 per share, raising approximately<a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/g42187964/rigetti-computing-announces-pricing-of-100-million-registered-direct-offering-of-common-stock-pric" rel="noreferrer noopener"> $100 million before fees and expenses</a>.
The company also announced that its Novera Quantum Processing Unit (QPU) is now located at the Israeli Quantum Computing Center (IQCC), alongside Quantum Machines&#8217; OPX1000 control system and NVIDIA&#8217;s Corporation&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) Grace-Hopper superchip <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/g41895713/rigetti-computing-reports-third-quarter-2024-financial-results-and-business-updates" rel="noreferrer noopener">servers for research and experimentation</a>. This is Rigetti&#8217;s first commercially available QPU.
Investors can gain exposure to the stock via&nbsp;Defiance Quantum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QTUM#NASDAQ">QTUM</a>).
IonQ, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>): The stock has gained over 70% in the past month.
Last month, Craig Hallum reiterated the Buy rating on the stock, raising the price forecast to $22 from $15.
According to MarketBeat, the company&#8217;s momentum has been fueled by key developments over the past year, including a $54.5 million contract with the U.S. Air Force Research Lab and a partnership with the South Korean government to advance its quantum market.
IonQ has taken advantage of the booming AI market by partnering with Zapata Computing, utilizing Nvidia&#8217;s CUDA-Q platform, and testing large language models on its quantum systems.
Investors can gain exposure to the stock via&nbsp;Main Thematic Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/TMAT#BATS">TMAT</a>).
Quantum Computing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QUBT#NASDAQ">QUBT</a>): The stock has gained over 487% in the past month, adding over 790% year to date.
Last month, this small-cap company entered into a securities purchase agreement to sell 16 million shares of common stock at $2.50 per share under Nasdaq rules. The offering generated <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n41999265/quantum-computing-inc-announces-registered-direct-offering-of-40-million-priced-at-the-market-unde" rel="noreferrer noopener">gross proceeds of $40 million.</a>
On November 20, the company received its second purchase order for its thin film lithium niobate (TFLN) photonic chip foundry from the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n42087609/quantum-computing-inc-announces-second-purchase-order-for-tfln-photonic-chip-foundry-from-universi" rel="noreferrer noopener">University of Texas at Austin.</a>
The order will support the university&#8217;s RF Acoustic Microsystem Group&#8217;s research and is part of the QCi Foundry&#8217;s pilot launch program, with fulfillment expected in the first quarter of 2025.
The quantum computing sector is witnessing rapid growth, driven by groundbreaking technologies and strategic partnerships. As these companies continue to innovate, they remain key players to watch for investors seeking exposure to this transformative industry.
Read Next: <a target="_blank" href="https://www.benzinga.com/markets/cryptocurrency/24/12/42378513/can-bitcoin-ethereum-dogecoin-shiba-inu-or-solana-beat-xrp-in-2025-poll-says-yes-one-coin-stands-out" rel="noreferrer noopener">Can Bitcoin, Ethereum, Dogecoin, Shiba Inu or Solana Beat XRP In 2025? Poll Says Yes, One Coin Stands Out</a>

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Quantum Computing Stocks Roundup: D-Wave, Rigetti, IonQ Lead the Charge With Explosive Growth

In a recent appearance at the New York Times DealBook Summit, Jeff Bezos, executive chair of Amazon Inc., revealed his simple yet effective strategy for the <a href="https://www.benzinga.com/news/24/06/39563534/jeff-bezos-reveals-the-one-secret-to-success-you-can-have-a-job-or-you-can-have-a-career-or">company&#8217;s ongoing success</a>.
What Happened: Bezos stressed the significance of concentrating&nbsp;on &#8220;a few things&#8221; to&nbsp;ensure the $2.32 trillion company remains on the right path. 
These crucial factors include pinpointing big ideas, implementing rigorous execution against these ideas, and fostering the next generation of leaders.
Bezos said there are three elements that can help anyone get ahead. "Big leaders have to identify big ideas. They have to enforce tough execution against those big ideas and they need to grow the next generation of leaders," he said at the summit and as quoted <a href="https://www.cnbc.com/2024/12/06/jeff-bezos-heres-my-simple-strategy-for-amazons-continued-success.html">by</a> CNBC.
Bezos, who relinquished his role as Amazon&#8217;s CEO in 2021, is currently aiding CEO Andy Jassy and the leadership team in preserving their success.
Also Read: <a href="https://www.benzinga.com/news/24/11/42154948/costco-founders-chat-with-bezos-over-coffee-helped-save-amazon">Costco Founder&#8217;s Chat With Bezos Over Coffee Helped Save Amazon</a>
Their main concentration is on artificial intelligence (AI),&nbsp;including Nova, Amazon&#8217;s generative AI&nbsp;model that was launched on Tuesday.
Bezos highlighted the vast potential of AI, stating,&nbsp;&#8220;We&#8217;re literally working on a&nbsp;thousand [AI] applications internally,&#8221; suggesting that AI has the capacity to enhance and infiltrate every aspect of life.
Why It Matters: Bezos&#8217; strategy for Amazon&#8217;s success is not only simple but also effective. By focusing on a few key areas, the company can ensure it stays on track and continues to grow. 
The emphasis on AI, in particular, shows that Amazon is looking to the future and is ready to innovate and adapt to new technologies. 
This forward-thinking approach is likely to play a crucial role in Amazon&#8217;s continued success and growth.
Read Next
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Here's How Jeff Bezos' Three Simple Steps Made Amazon a Giant

For many <a href="https://www.benzinga.com/real-estate/24/07/39655295/college-students-and-parents-are-opting-for-real-estate-investments-over-dorms-for-those-who-can-aff">college students</a>, moving into a dorm marks their first taste of independence. While some stick to essentials, others turn their dorm rooms into luxurious spaces with price tags rivaling tuition.
According to The New York Times, many students, particularly in the South, are hiring interior designers to transform their dormitories into <a href="https://www.benzinga.com/real-estate/24/09/41079711/disney-magic-meets-luxury-living-new-high-end-developments-hit-southeast">high-end living spaces</a>. At the University of Mississippi, where instate tuition is $9,400 annually, freshman Lesley Lachman partnered with an interior design company to create a stylish, modern dorm room for $3,000. Lachman's story highlights a larger trend: the rise of luxury dorm makeovers, with some students or their families spending upward of $10,000.
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This surge in dorm room spending aligns with an overall increase in what students invest in their college living essentials. The National Retail Federation reports that college students spent an average of $1,365 on back-to-college purchases this year – nearly double what was spent a decade ago. According to the Education Data Initiative, this is in addition to the average room and board costs, which amount to $12,640 annually at public colleges and $14,410 at private institutions. Over four years, this adds up to $52,700 for housing expenses alone.
With steep tuition and room and board costs, these designer dorm trends represent an even larger financial commitment for some families. The average student in the U.S. earns $37,330 annually, based on data from Talent.com. Spending thousands on dorm decor likely isn't a realistic option for <a href="https://www.benzinga.com/personal-finance/24/11/42250885/gen-zers-are-being-fired-just-months-after-getting-hired-employers-cite-lack-of-motivation-poor-communication-and-unprofessional-behavior">students working entry-level jobs</a> or paying their way.
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The options for dorm upgrades are extensive for those who can afford it. Interior designers like Eden Bowen Montgomery, founder of Essentials with Eden, create bespoke dorm interiors featuring custom cabinets, monogrammed bedding and luxury light fixtures. Montgomery, an Ole Miss alumna, charges approximately $10,000 per room for her services, which include full setup on move-in day.&nbsp;
According to The New York Times, this year, Montgomery had more than 200 dorm setups to do, which required the assistance of 25 seasonal employees since they had to get everything done on move-in day for each student.&nbsp;
In some cases, students have more elaborate requests. Designer Joyce Huston, cofounder of Decorilla in New York, worked with one client who wanted his dorm to resemble an Amazon rain forest.&nbsp;
"He wanted to have living walls, water features, everything," Huston told The New York Times. "After a lot of meetings, sharing ideas and setting expectations, we agreed on a gorgeous plan: We added some plants, a breathtaking mural and a funky hanging chair."
Trending: Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/1milsaved"> The percentage may shock you</a>.
While Huston's dorm design packages start at $549, they can rise significantly depending on the project scope.
Several factors have contributed to the rise of designer dorm rooms. The COVID-19 pandemic heightened students&#8217; desire for comfortable, personalized spaces, while social media platforms like <a href="https://www.benzinga.com/news/24/10/41287462/tiktok-cuts-hundreds-of-jobs-as-company-shifts-toward-ai-based-content-moderation-report">TikTok</a> have popularized dorm transformations. Viral videos showcasing before-and-after shots of elaborate setups inspire students to invest in creating a space they're proud to share online.
However, not everyone is splurging. Some students and their families are sticking to budget-friendly options. Angela Hogan, director of design at Ashton Woods Homes, told The New York Times that she recommends focusing on essentials like mattress pads, storage solutions and quality lighting for those looking to DIY their dorm decor.
Dorm room makeovers have become a booming industry. Designers like Montgomery report being booked months in advance, with some already taking reservations for 2025. Whether students opt for lavish designs or practical setups, one thing is clear: dorm living has evolved far beyond basic furniture and bare walls.
For families navigating these trends, the key may be balancing comfort and affordability as students transition into college.
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Tuition's $9,400, But Some College Students Are Dropping $10,000 On Dorm Room Makeovers

On a recent episode of MSNBC&#8217;s All In, host Chris Hayes said that a Senate bill could potentially result in a $100 billion transfer from taxpayers to Bitcoin owners.
What Happened: The <a href="https://www.congress.gov/bill/118th-congress/senate-bill/4912/all-info">bill</a>, proposed by Sen. Cynthia Lummis (R-Wyo.), calls for the U.S. Treasury to acquire one million Bitcoins over a span of five years, with a holding period of at least 20 years.
Given the current Bitcoin trading price of $100,000, this acquisition would amount to $100 billion.
Hayes <a href="https://www.youtube.com/watch?v=qWANiC28M8o&amp;t=5s">drew</a> attention to the fact that Republican lawmakers have received substantial campaign contributions from cryptocurrency advocates, who are now looking to reap the benefits of their investment.
"They want a bailout – implicit or explicit – if the house of cards crashes down. To that end, after Republicans took back the Senate with the help of money from the crypto industry, they now have a plan to return the favor. And I want you to listen because no one is really talking about this, but the elements of the plot are just there in plain sight," he said during the show. 
This comes despite President-elect Donald Trump&#8216;s previous skepticism towards cryptocurrency, which he seems to have recently overcome.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001426/trump-aims-to-make-us-crypto-capital-of-the-planet-well-get-it-done">Trump Aims To Make US &#8216;Crypto Capital Of The Planet&#8217;: &#8216;We&#8217;ll Get It Done&#8217;</a>
Hayes underscored the instability of cryptocurrency and highlighted the liquidity problems often faced by large-scale crypto holders. He criticized the proposed bill as a taxpayer-funded bailout for the crypto industry.
Hayes also mentioned David Sacks, who was named White House AI and crypto czar by Trump, as a significant holder of the asset. Hayes suggested that Sacks could play a crucial role in advancing the bill.
According to Hayes, the proposed Bitcoin Act would permit the government to sell a portion of its gold reserves to finance the Bitcoin purchase, which could potentially trigger a substantial increase in Bitcoin&#8217;s market value.
Why It Matters: This proposed bill, if passed, could significantly alter the landscape of cryptocurrency and its relationship with the government. 
It could potentially set a precedent for future legislation regarding cryptocurrencies, and could influence the way these digital assets are perceived and utilized. Furthermore, the potential sale of gold reserves could have a significant impact on the gold market and the overall economy. 
The bill&#8217;s outcome could have far-reaching implications, making it a matter of national interest.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42024635/scaramucci-trumps-crypto-support-could-push-bitcoin-to-150k">Scaramucci: Trump&#8217;s Crypto Support Could Push Bitcoin To $150K</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

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