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Chinese EV giant and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rival, BYD Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) has outlined plans to commence &#8220;demonstration use&#8221; of all-solid-state batteries by 2027, with a broader adoption anticipated post-2030.
What Happened: As per a report by&nbsp;<a href="https://cnevpost.com/2025/02/15/byd-demonstration-use-all-solid-state-batteries-2027/">CnEVPost</a>, Sun Huajun, the Chief Technology Officer of BYD&#8217;s battery business, revealed the timeline at the China All-Solid-State Battery Innovation and Development Summit Forum. He also mentioned that the industry is making similar strides.
BYD, the world&#8217;s largest new energy vehicle (NEV) manufacturer and the second-largest producer of power batteries, has been working on all-solid-state batteries since 2013. By 2024, the company had begun assessing the feasibility of industrializing these batteries, with trial production already underway for solid-state battery cells featuring single-cell capacities of 20 Ah and 60 Ah.
Sun stated that BYD&#8217;s choice of materials for solid-state batteries is also based on sulfide electrolytes, primarily due to cost and process stability considerations.
Sun stated that cost wouldn&#8217;t pose a long-term issue for solid-state batteries. He attributed the current high cost of sulfide electrolytes used in BYD&#8217;s solid-state batteries to their low volume.&nbsp;&#8220;It doesn&#8217;t really make a&nbsp;lot of sense to talk&nbsp;about cost in the absence&nbsp;of volume,&#8221; he said. Sun anticipates that as the adoption of solid-state ternary batteries grows, their cost will become comparable to that of liquid ternary batteries.
Meanwhile, Lian Yubo, BYD's Chief Scientist and Dean of the Automotive Engineering Research Institute clarified, "Solid-state batteries will be mainly used in high-end models, empowering each other with lithium iron phosphate batteries, and used in vehicles of different levels."
SEE ALSO: <a href="https://www.benzinga.com/news/25/02/43629182/hesais-lidar-takes-bigger-role-byds-gods-eye-advanced-driver-assistance">Hesai&#8217;s Lidar Takes On Bigger Role In BYD&#8217;s &#8216;God&#8217;s Eye&#8217; Advanced Driver Assistance</a>
Why It Matters: All-solid-state batteries are considered the future of electric vehicles (EVs) due to their potential for higher energy density, faster charging, and improved safety compared to current lithium-ion batteries. BYD&#8217;s timeline for the demonstration and subsequent mass adoption of these batteries aligns with the industry&#8217;s progress.
The company&#8217;s ongoing efforts since 2013 to develop and industrialize all-solid-state batteries indicate its commitment to innovation and leadership in the EV market. Furthermore, Sun&#8217;s comments about the cost of solid-state batteries provide a positive outlook for their future affordability.
However, experts indicate that mass-producing solid-state batteries can be a significant challenge. "Part of the timeline issue is that you can&#8217;t use the same manufacturing plants and processes for SSBs,&#8221; explained Liz Najman, the Director of market insights at battery health and data start-up&nbsp;Recurrent. "You need to build everything new, which requires money and time,&#8221; he added.
<ul>
<li>READ MORE: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/43726337/tsla-stock-has-plunged-over-25-from-its-december-peak-and-this-analyst-says-it-has-not-bottomed-yet-one-more-move-down-which-could-happen-over-the">TSLA Stock Has Plunged Over 25% From Its December Peak, And This Analyst Says It Has Not &#8216;Bottomed&#8217; Yet: &#8216;One More Move Down, Which Could Happen Over The…&#8217;</a></li>
</ul>
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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.

News

Tech

BYDDY

TSLA

Tesla Rival BYD Sets 2027 Target For Mass Production Of Solid-State Batteries: 'Will Be Mainly Used In High-End Models'

Following the recent comments from billionaire investor Ray Dalio on &#8220;expensive,&#8221; companies with high valuations, his fund Bridgewater Associates trimmed its positions in six of the &#8216;Magnificent 7&#8217; stocks during the fourth quarter, while taking a fresh position in Elon Musk-led Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).
What Happened: According to its 13-F filing with the U.S. Securities And Exchange Commission, the &#8216;Magnificent 7&#8217; stocks witnessed a double-digit cut in their positions at Bridgewater, except Tesla.
<ul>
<li>Decreasing about 40% of its existing holdings, Apple Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) value in Bridgewater&#8217;s portfolio stood at the lowest among the &#8216;Magnificent 7&#8217; stocks at $154.559 million, as of Dec. 31, 2024.</li>
<li>Bridgewater held the most Class A Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) shares in the said quarter among the &#8216;Magnificent 7,&#8217; trimming just 17% of its position from the third quarter, valued at $685.513 million.</li>
<li>Positions in Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) were also slashed in double digits from the third to the fourth quarter.</li>
<li>However, Dalio&#8217;s fund added 153,589 shares of Tesla to its portfolio for the first time in three years after the fourth quarter of 2021. It was valued at $62.025 million.</li>
</ul>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>Holdings (as of Sept. 30)</td>
<td>Holdings (as of Dec. 31)</td>
<td>Change (in %)</td>
<td>Value As Of Dec. 31</td>
</tr>
<tr>
<td>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)</td>
<td>4,379,337</td>
<td>3,621,308</td>
<td>-17%</td>
<td>$685.513 million</td>
</tr>
<tr>
<td>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</td>
<td>4,754,271</td>
<td>3,497,362</td>
<td>-26%</td>
<td>$469.660 million</td>
</tr>
<tr>
<td>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</td>
<td>802,202</td>
<td>621,088</td>
<td>-23%</td>
<td>$363.653 million</td>
</tr>
<tr>
<td>Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</td>
<td>870,178</td>
<td>667,036</td>
<td>-23%</td>
<td>$281.155 million</td>
</tr>
<tr>
<td>Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</td>
<td>1,411,643</td>
<td>919,786</td>
<td>-35%</td>
<td>$211.684 million</td>
</tr>
<tr>
<td>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)</td>
<td>1,031,856</td>
<td>617,203</td>
<td>-40%</td>
<td>$154.559 million</td>
</tr>
<tr>
<td>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</td>
<td>0</td>
<td>153,589</td>
<td>0%</td>
<td>$62.025 million</td>
</tr>
</tbody>
</table>
</figure>
See Also: <a href="https://www.benzinga.com/government/regulations/25/02/43431874/billionaire-ray-dalio-raises-valuation-concerns-as-deepseeks-new-model-hits-nvidia-stock-a-great-company-that-gets-expensive-is-much-worse-than-a-bad-company-thats-really-cheap">Billionaire Ray Dalio Raises Valuation Concerns As DeepSeek&#8217;s New Model Hits Nvidia Stock</a>
Why It Matters: Dalio, in a discussion with David Friedberg on the All-In Podcast, <a href="https://www.benzinga.com/government/regulations/25/02/43431874/billionaire-ray-dalio-raises-valuation-concerns-as-deepseeks-new-model-hits-nvidia-stock-a-great-company-that-gets-expensive-is-much-worse-than-a-bad-company-thats-really-cheap">cautioned against</a> solely focusing on &#8220;good&#8221; companies, following the tech stock rout after the popularity of Chinese AI firm DeepSeek. 
"A great company that gets expensive is much worse than a bad company that's really cheap," he warned. Dalio urged investors to prioritize value and consider pricing dynamics, especially in the current economic climate.
He expressed concerns about the &#8220;superscalars&#8221; like Nvidia, highlighting their potential risks. Instead, Dalio advised investors to prioritize productivity, innovation, and disruptive technologies, while carefully considering pricing and global economic trends. He emphasized investing in those developing and utilizing applications that drive positive change.
Despite the changes to &#8216;Magnificent 7&#8217; stocks, exchange-traded funds took the highest position in the value terms in Bridgewater&#8217;s portfolio. The fund held $4.824 billion and $1.2 billion in ETFs tracking the S&amp;P 500 index and $922.163 million in the ETF tracking the MSCI Emerging Markets index.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>ETFs</td>
<td>Holdings (as of Sept. 30)</td>
<td>Holdings (as of Dec. 31)</td>
<td>Change (in %)</td>
<td>Value As Of Dec. 31</td>
</tr>
<tr>
<td>SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)</td>
<td>836,965</td>
<td>8,232,049</td>
<td>884%</td>
<td>$4.824 billion</td>
</tr>
<tr>
<td>iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>)</td>
<td>2,222,834</td>
<td>2,039,343</td>
<td>-8%</td>
<td>$1.2 billion</td>
</tr>
<tr>
<td>iShares Core MSCI Emerging Markets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEMG#NYSE">IEMG</a>)</td>
<td>17,779,378</td>
<td>17,659,209</td>
<td>-1%</td>
<td>$922.163 million</td>
</tr>
</tbody>
</table>
</figure>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/02/43762156/will-markets-be-closed-for-presidents-day-heres-what-investors-should-know">Will Markets Be Closed For Presidents Day? Here&#8217;s What Investors Should Know</a></li>
</ul>
Photo courtesy: Shutterstock

Equities

Market Summary

Hedge Funds

Markets

ETFs

AAPL

AMZN

GOOGL

IEMG

MSFT

NVDA

Billionaire Ray Dalio's Bridgewater Trims Holdings In 6 Of 'Magnificent 7' Stocks Amid Valuation Concerns, Adds This Automotive Stock After 3 Years

The cryptocurrency market was influenced by Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) stagnation last week, although certain coins staged remarkable gains.
What happened: CAKE, the token of the decentralized exchange PancakeSwap, topped the gainers&#8217; list, returning a massive 62% to its holders in the last week.
The BNB Chain (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>)-based coin's growth was catalyzed by a sharp jump in trading volumes on PancakeSwap, worth over $27 billion over the last week, <a href="https://defillama.com/dexs">according </a>to DeFiLlama.
S, the native token of the high-speed blockchain platform Sonic, was the second-most successful coin, surging 33% over the week. Proof-of-work cryptocurrency Kaspa rallied over 25% to bag the third spot.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price</td>
</tr>
<tr>
<td>PancakeSwap (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/cake/usd">CAKE</a>)</td>
<td>+62.70%</td>
<td>$2.74</td>
</tr>
<tr>
<td>Sonic (S)</td>
<td>+33.56%</td>
<td>$0.5462</td>
</tr>
<tr>
<td>Kaspa (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">KAS</a>)</td>
<td>+25.98%</td>
<td>$0.1099</td>
</tr>
</tbody>
</table>
</figure>
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43721043/brian-armstrong-wants-to-handle-growing-volumes-of-memecoins-by-adding-dexes-into-coinbase-a-little-bit-like-the-early-days-of-the-internet">Brian Armstrong Wants To Handle Growing Volumes Of Memecoins By Adding DEXes Into Coinbase: &#8216;A Little Bit Like The Early Days Of The Internet&#8217;</a>
Blue-chip coins like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) remained rangebound, gaining 0.98% and 0.81%, respectively.
XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) clocked double-digit gains of 11.55%, while Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) grew 6.17%, following the <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43730035/does-this-sec-decision-mean-dogecoin-xrp-etfs-are-on-their-way">SEC's acknowledgment</a> of their respective Grayscale ETF applications.
Other meme coins like Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) traded flat, while President Donald Trump's Official Trump (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) token lifted over 14%.
Overall, the total cryptocurrency market capitalization rose marginally by 0.9% over the week to $3.19 trillion.
Photo Courtesy: Akif CUBUK on Shutterstock.com
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/25/02/43719682/peter-schiff-says-gamestop-has-thrown-a-hail-mary-by-considering-bitcoin-investments-draws-parallels-with-michael-saylors-strategy">Gamestop&#8217;s Potential Bitcoin Move A &#8216;Hail Mary,&#8217; Says Peter Schiff —Crypto Themed On Company Rips 440%</a></li>
</ul>

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

Cryptocurrency

Movers

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$BNB

$BTC

$CAKE

$DOGE

$ETH

$KAS

$SHIB

$TRUMP

$XRP

Bitcoin Was Muted, Dogecoin Spiked, But The Icing On The 'Cake' Last Week Was A 62% Rally In This Token

Goldman Sachs&nbsp;predicts a substantial rise in Chinese stocks due to the rapid implementation of artificial intelligence (AI) technologies such as DeepSeek.
What Happened: Goldman Sachs analysts Kinger Kau, Timothy Moe, Si Fu, and Kevin Wong revealed that the bank has revised its MSCI China Index target from 75 to 85, indicating a 16% upside over the next year, according <a href="https://www.bloomberg.com/news/articles/2025-02-17/goldman-raises-msci-china-target-as-deepseek-improves-outlook">to</a> a report by Bloomberg. The bank forecasts that Chinese stocks will draw around $200 billion and increase by up to 19% in the next 12 months.
The bank also suggests that the broad adoption of AI could enhance Chinese companies&#8217;&nbsp;earnings per share by nearly 2.5% annually over the next ten years. This is attributed to cost savings, productivity improvements, and the generation of new revenue streams enabled by these technologies.
Goldman Sachs also highlighted that the &#8220;Chinese AI story&#8221; might drive net buying and shift global asset managers away from their &#8220;conservative and underweight allocations&#8221; to Chinese equities. 
SEE ALSO: <a href="https://www.benzinga.com/markets/asia/25/02/43761193/xi-jinping-ad-jack-mas-upcoming-meeting-a-clear-message-of-beijings-support-stock-soars-in-hong-kong-ahead-of-earnings">Xi Jinping And Jack Ma&#8217;s Upcoming Meeting &#8216;A Clear Message&#8217; Of Beijing&#8217;s Support, Stock Soars In Hong Kong Ahead Of Earnings</a>
Why It Matters: DeepSeek-R1 has gained attention globally for demonstrating capabilities on par with models from OpenAI, Google, and Anthropic — while maintaining significantly lower training costs.
Goldman Sachs&#8217; prediction comes amid widespread discussions comparing the <a href="https://www.benzinga.com/markets/equities/25/02/43721445/apple-tesla-and-other-mag-7-peers-too-expensive-top-hedge-fund-challenges-overvaluation-concerns-says-they-are-fairly-priced-if-they-sustain-20-earnings-growth-rate">valuation of tech stocks</a>, particularly the &#8216;Magnificent Seven&#8217; — Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) to that of Chinese equities. On Feb 6, Bloomberg data revealed that the 30 companies in the Hang Seng Tech Index had an average price-to-earnings ratio of 20.5 times, while the Mag 7 traded at an average of 41.4 times.
While the CEO of Trivariate Research, Adam Parker, recommended investors <a href="https://www.benzinga.com/25/02/43653386/this-analyst-gives-three-reasons-to-trim-magnificent-seven-holdings-lowering-exposure-is-prudent">reduce their exposure to the "Magnificent Seven" stocks</a> amid high valuation and related risks, Bridgewater Associates, a top hedge fund, has challenged the widespread belief that these stocks are overvalued.
Besides high valuations, Peter Oppenheimer, the Chief Global Equity Strategist&nbsp;at Goldman Sachs has previously expressed concerns over the high capex spending of the U.S. big tech companies. &#8220;..the extraordinary ramp-up in capex spending that mega-cap technology companies are making is reducing free cash flow and the scale of future profit growth,&#8221; cautioned Oppenheimer. 
READ MORE:
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/movers/25/02/43745655/smci-stock-compliance-fomo-rally">Options Corner: Why Super Micro Computer&#8217;s Super Rally Could Continue Marching Higher</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Global

GOOG

AI Adoption To Boost Chinese Stocks By Up To $200 Billion, Predicts Goldman Sachs: EPS To Rise By 2.5% Annually Over Next 10 Years

A viral social media post sparked speculation about Jimmy Donaldson, better known as MrBeast's finances after a user spotted him flying economy on EVA Air.
What Happened: On Sunday, a user on X, formerly Twitter, questioned whether the world's most-followed YouTuber was facing financial trouble.
"Is MrBeast now MrBroke? He was reportedly spotted flying economy on EVA AIR," the user posted.
The YouTuber, known for his massive giveaways and multi-million-dollar productions, explained that he often books last-minute flights when necessary.
See Also: <a href="https://www.benzinga.com/25/01/43325891/backed-by-youtube-king-mrbeast-group-of-american-investors-including-roblox-ceo-lock-in-over-20-billion-for-tiktok-takeover-but-they-have-not-heard-back-directly-from-bytedance">MrBeast And Group Of Investors, Including Roblox CEO, Lock In Over $20 Billion For TikTok Takeover</a>
"I've flown Southwest multiple times already this year, sometimes when we need last-minute tickets it's all that's available and I'm just chilling in the back of a plane with random fans lo," the YouTuber 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">I've flown Southwest multiple times already this year, sometimes when we need last minute tickets it's all that's available and I'm just chilling in the back of a plane with random fans lol
&mdash; MrBeast (@MrBeast) <a href="https://twitter.com/MrBeast/status/1891285569839288509?ref_src=twsrc%5Etfw">February 17, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: According <a href="https://www.forbes.com/profile/mrbeast/">to</a> Forbes, MrBeast currently has a net worth of $85 million. In 2023, the YouTuber pledged to <a href="https://www.benzinga.com/tech/25/01/43325058/mrbeasts-net-worth-hits-1-billion-but-in-2023-he-promised-to-give-away-all-his-money-what-drives-the-youtubers-philanthropy">give away all his money</a> before his death.
Last month, Donaldson also revealed that he is in <a href="https://in.benzinga.com/general/social-media/25/01/42994923/mrbeast-discussing-buying-tiktok-with-billionaires-to-prevent-us-shutdown-lets-see-if-we-can-pull-this-off">talks with several billionaires</a> to potentially acquire TikTok's U.S. operations.
Photo Courtesy: Shutterstock.com
Read Next:
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<li><a href="https://www.benzinga.com/tech/25/01/43078570/mrbeast-unhappy-with-billionaires-silence-on-feeding-the-hungry-after-overwhelming-interest-about-tiktok-purchase-when-i-fundraise-its-crickets" target="_blank" rel="noreferrer noopener">MrBeast Unhappy With Billionaires&#8217; Silence On Feeding The Hungry After Overwhelming Interest About TikTok Purchase: ‘When I Fundraise It&#8217;s Crickets&#8217;</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.

Entertainment

MrBeast Shuts Down 'MrBroke' Claim After Getting Caught Flying Coach—Says He's 'Just Chilling'

The third Monday of February is &#8216;Presidents&#8217; Day&#8217; in the U.S. It is a federal holiday observed in the country as most banks and government offices along with NYSE and Nasdaq remain closed.
What Happened: Presidents Day, honors two of America&#8217;s most influential leaders, George Washington, whose birthday is Feb. 22nd, and Abraham Lincoln, born on Feb. 12th.
Washington&#8217;s birthday holds the distinction of being the first federal holiday commemorating an individual&#8217;s birth. Established in 1885, it originally fell on Feb. 22nd. However, the Uniform Monday Holiday Law of 1971 shifted the observance to the third Monday in February. This placement, between the birthdays of Washington and Lincoln, led to the holiday&#8217;s common name, Presidents Day.
What Will Remain Closed: Here&#8217;s a list of services that shall remain closed on Monday, Feb. 17.
<ul>
<li>Financial Markets: The New York Stock Exchange (NYSE), Nasdaq, and U.S. bond markets will be closed.</li>
</ul>
<ul>
<li>Banking: Most banks and government offices in the U.S. will be closed.</li>
</ul>
<ul>
<li>Chicago Mercantile Exchange (CME): The CME will operate with modified trading hours. The closures and modified hours across various segments at CME can be checked <a href="https://www.cmegroup.com/trading-hours.html#tradeDate=2025-02-17">here</a>. </li>
</ul>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43743269/exclusive-michael-saylors-mstr-linked-etfs-are-not-for-long-term-investors-say-crypto-expe">Michael Saylor&#8217;s MSTR-Linked ETFs Are &#8216;Not For Long-Term Investors&#8217; Say Crypto Experts: &#8216;…They Also Double The Potential Loss&#8217;</a>
Cues From The Last Session
U.S. markets closed mixed on Friday. Information technology, communication services, financials, and energy sectors ended on a positive note, whereas consumer staples, healthcare, and utilities fell the most.
The Dow declined 0.37% or 165 points to end at 44,546.08, whereas the S&amp;P 500 dropped below the flatline by 0.0072% to close at 6,114.63, the exchange-traded fund tracking it SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.0049%.
The Nasdaq 100 gained 0.38% to close at a record high of 22,114.69 as Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) advanced for the 20th session. The ETF tracking the index, Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) closed 0.42% higher.
The small-cap gauge, Russell 2000 closed 0.097% lower at 2,279.98 points.
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</ul>
Photo courtesy: Shutterstock

Government

Will Markets Be Closed For Presidents Day? Here's What Investors Should Know

Influential cryptocurrency analyst PlanB said Saturday that they have transferred all their spot Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) to exchange-traded funds, seeking a hassle-free trading experience and &#8220;peace of mind.&#8221;
What Happened: The influencer, known for creating the popular&nbsp;<a href="https://www.benzinga.com/money/bitcoin-stock-to-flow-model#:~:text=All%206%20Items-,What%20is%20the%20Stock%20to%20Flow%20Model%3F,commodities%20like%20oil%20and%20copper.">Stock to Flow price prediction model</a>, was motivated by the convenience of managing Bitcoin in the same manner as equities and bonds.
&#8220;Also, not having to hassle with keys gives me peace of mind. I guess I am not a maxi anymore,&#8221; the analyst said, pivoting from the &#8220;not your keys, not your coins&#8221; position, which promotes holding cryptocurrencies in a self-custodial wallet.
&#8220;In my view, ETFs are a logical step in Bitcoin adoption, next to holding your own keys,&#8221; PlanB added.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x26a0;&#xFE0F; Disclosure &#x26a0;&#xFE0F; I have transferred my bitcoin to ETFs. Yes I know, not your keys not your coins. But it is just easier for me to manage bitcoin the same way as equities and bonds. Also, not having to hassle with keys gives me peace of mind. I guess I am not a maxi anymore.
&mdash; PlanB (@100trillionUSD) <a href="https://twitter.com/100trillionUSD/status/1890721205059031311?ref_src=twsrc%5Etfw">February 15, 2025</a></blockquote>
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Responding to a user's question, PlanB, who is from the Netherlands, said that their decision does not trigger a tax event in the country, where there is no realized capital gains tax.
Peter Schiff, a renowned economist and known Bitcoin critic, chimed in, calling the leading cryptocurrency a &#8220;digital pyramid scheme&#8221; and one that failed to fulfill its &#8220;supposed purpose.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Just another example of Bitcoin not fulling its supposed purpose. It&#39;s nothing more than a digital pyramid scheme, now resorting to political influence to force taxpayers into keep the scam going.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1890748787007623655?ref_src=twsrc%5Etfw">February 15, 2025</a></blockquote>
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</figure>
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43721043/brian-armstrong-wants-to-handle-growing-volumes-of-memecoins-by-adding-dexes-into-coinbase-a-little-bit-like-the-early-days-of-the-internet">Brian Armstrong Wants To Handle Growing Volumes Of Memecoins By Adding DEXes Into Coinbase: &#8216;A Little Bit Like The Early Days Of The Internet&#8217;</a>
Why It Matters: Launched in January last year, spot Bitcoin ETFs have boosted institutional engagement with digital assets, amassing holdings worth nearly 6% of Bitcoin&#8217;s total market capitalization as of this writing, <a href="https://sosovalue.com/assets/etf/us-btc-spot">according </a>to SoSo Value. 
iShares Bitcoin Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) is the world&#8217;s largest cryptocurrency fund, with assets worth over $57 billion.
During a panel at the&nbsp;<a href="https://www.benzinga.com/24/12/42516240/the-doors-have-been-blown-off-how-bitcoin-etfs-are-reshaping-investment-strategies">Benzinga Future of Digital Assets&nbsp;conference</a>, industry leaders highlighted how ETFs have removed barriers that once deterred traditional investors from entering the cryptocurrency market.
While ETFs eliminate the technical complexities of owning cryptocurrencies, such as private keys, they strike at the heart of Bitcoin&#8217;s principles as a cypherpunk, crypto-anarchist, and anti-establishment freedom tool by giving control back to the government.
Image via Shutterstock
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</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://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

IBIT

PlanB Shifts Bitcoin Holdings To ETFs Saying He's No Longer A 'Maxi' — Peter Schiff Reacts: Apex Crypto 'Not Fulfilling Its Supposed Purpose'

Apple Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) key supplier Foxconn, also known as Hon Hai Precision Industry Co., Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HNHAF#OTC">HNHAF</a>) is reportedly facing obstacles in <a href="https://www.benzinga.com/government/regulations/24/12/42484240/apples-airpods-production-shifts-to-india-foxconn-will-begin-manufacturing-in-2025">expanding its operations</a> in India as China tightens restrictions on technology and talent exports.
What Happened: Chinese authorities have made it more difficult for engineers and key manufacturing equipment to leave the country, <a href="https://www.ft.com/content/d48e9a90-ba6a-42bb-9da7-58db89643f86">reported</a> the Financial Times, citing industry sources and ministry notices.
Last month, Foxconn reported that its <a href="https://www.benzinga.com/news/earnings/25/01/42808796/foxconn-posts-record-revenue-rides-high-on-ai-server-demand-and-nvidia-partnership">fourth-quarter earnings</a> increased by 15.17% compared to the previous year and by 15.03% from the previous quarter, reaching a record NT$2,132.3 billion, or approximately $64.83 billion.
Earlier this month, Hon Hai reported a 3.16% year-over-year increase in January 2025 revenue and also upgraded its forecast for the first quarter.
Analysts suggest that Beijing&#8217;s strategy mirrors the <a href="https://www.benzinga.com/news/24/09/40912608/microsoft-wants-clarity-on-chip-exports-to-middle-east-amid-1-4b-deal-with-uae-firm">Western tech transfer restrictions</a> it has criticized. The informal controls seem to target India, while projects in Southeast Asia and the Middle East remain largely unaffected, the report noted.
China&#8217;s commerce ministry has also proposed new export restrictions on technologies related to lithium extraction and advanced battery materials.
See Also: <a href="https://www.benzinga.com/25/02/43761610/top-analyst-says-apple-maps-may-introduce-ads-similar-to-its-google-counterpart-as-the-tech-giant-explores-new-revenue-stream">Apple Maps May Introduce Ads Similar To Google Maps As iPhone Maker Explores New Revenue Stream, Says Top Analyst</a>
Why It Matters: These restrictions are part of China's broader strategy to retain critical technologies, particularly in semiconductor and battery production, as it counters tariffs from the Donald Trump administration and trade disputes with the EU.
Earlier this month, China announced <a href="https://in.benzinga.com/economics/macro-economic-events/25/02/43454424/china-strikes-back-new-tariffs-up-to-15-on-certain-us-imports-in-retaliation-for-trumps-10-levy-on-chinese-goods">new tariffs</a> of up to 15% on certain U.S. imports in retaliation for a 10% levy imposed by the U.S. on Chinese goods.
"China is building up a large export control muscle and being quite deliberate in what they choose to control," senior analyst Antonia Hmaidi told the publication. "Fundamentally it's about keeping China central to global supply chains," she said.
Price Action: Apple&#8217;s stock rose by 0.02% to $244.65 in after-hours trading, building on a 1.27% gain that brought it to $244.60 at Friday&#8217;s market close, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Image via Shutterstock
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</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.

Media

HNHAF

Apple Supplier Foxconn's Efforts To Make iPhones In India Thwarted By Tech And Talent Exports: Report

President Donald Trump took ceremonial laps Sunday in his presidential motorcade nicknamed &#8220;The Beast&#8221; at the Daytona 500, marking his first visit to the iconic speedway since 2020.
What Happened: &#8220;This is your favorite president,&#8221; Trump told drivers before the race. &#8220;I&#8217;m a big fan. I&#8217;m a really big fan of you people. How you do this, I don&#8217;t know. But I just want you to be safe,&#8221; <a href="https://thehill.com/homenews/administration/5148293-trump-takes-laps-on-daytona-500-speedway-in-the-beast/">reported</a> The Hill. 
Trump traveled to the Florida racetrack after spending the weekend at his Mar-a-Lago resort in Palm Beach, continuing his public appearances following last week&#8217;s attendance at the Super Bowl in New Orleans.
&#8220;It&#8217;s fantastic. It&#8217;s great for the country. Our country is doing well again, and we have spirit all over the world,&#8221; Trump told Fox Sports. &#8220;We brought it back, and it&#8217;s been less than four weeks.&#8221;
Why It Matters: <a href="https://www.benzinga.com/25/02/43761150/bitcoin-ethereum-dogecoin-dip-as-investors-hunt-for-volatility-amid-dull-weekend-heres-why-this-analyst-thinks-blindly-longing-the-btc-range-lows-may-not-be-a-good-idea">Bitcoin, Ethereum, Dogecoin Dip As Investors Seek Volatility Over A Dull Weekend: Analyst Thinks &#8216;Blindly&#8217; Longing The BTC Range Lows May Not Be A Good Idea</a>
Why It Matters: Trump&#8217;s Daytona appearance comes amid a notable shift in motorsports&#8217; traditional relationship with conservative politics. While NASCAR has historically provided Republican presidents a platform to <a href="https://www.benzinga.com/news/24/05/38631050/once-vehicles-for-republican-presidents-to-connect-with-southern-whites-motor-sports-are-shifting-aw">connect with Southern white working-class</a> voters, the sport and other racing series have recently distanced themselves from political alignments.
Last May, Miami Grand Prix organizers sent a cease-and-desist letter to a wealthy Trump supporter planning a $250,000-per-ticket fundraiser in a suite overlooking the race. Similarly, IndyCar rejected a team&#8217;s bid to display Trump and Robert F. Kennedy Jr. <a href="https://www.benzinga.com/news/24/05/38631050/once-vehicles-for-republican-presidents-to-connect-with-southern-whites-motor-sports-are-shifting-aw">promotions at the Indy 500</a>.
These changes come as motorsports battle declining viewership. NASCAR&#8217;s average audience fell to a record low 2.86 million viewers in 2023, while Daytona&#8217;s viewership has plummeted from historical highs. Formula 1 and IndyCar have faced similar challenges.
During his presidency, Trump served as grand marshal of the 2020 Daytona 500 and later criticized NASCAR&#8217;s Confederate flag ban while falsely accusing driver Bubba Wallace of a &#8220;hoax&#8221; involving a noose found in his garage stall.
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Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Politics

Trump Takes Ceremonial Laps In 'The Beast' At Daytona 500, Marks First Visit Since 2020: 'I'm A Big Fan'

JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO Jamie Dimon recently advised employees to view artificial intelligence-driven job elimination as beneficial, telling workers that &#8220;attrition is your friend.&#8221; 
What Happened: The comments came during a wide-ranging town hall in Columbus, Ohio, last week that included his now-viral criticism of remote work, according to audio recordings <a href="https://www.businessinsider.com/jamie-dimon-wfh-comments-jpmorgan-town-hall-cfpb-ai-attrition-2025-2">obtained</a> by Business Insider.
&#8220;It&#8217;ll change some of your jobs — for a lot of you it will be a copilot, for a lot of you it will take away the drudgery, and it may very well eliminate jobs, too,&#8221; Dimon said regarding artificial intelligence. He suggested the bank could &#8220;retrain and reskill and redeploy people&#8221; affected by automation.
See Also: <a href="https://www.benzinga.com/25/02/43761150/bitcoin-ethereum-dogecoin-dip-as-investors-hunt-for-volatility-amid-dull-weekend-heres-why-this-analyst-thinks-blindly-longing-the-btc-range-lows-may-not-be-a-good-idea">Bitcoin, Ethereum, Dogecoin Dip As Investors Seek Volatility Over A Dull Weekend: Analyst Thinks &#8216;Blindly&#8217; Longing The BTC Range Lows May Not Be A Good Idea</a>
Why It Matters: The town hall gained attention after Dimon&#8217;s comments against remote work spread on social media. A TikTok video posted by Barron&#8217;s garnered 2.4 million views, featuring Dimon&#8217;s colorful dismissal of <a href="https://www.benzinga.com/markets/equities/25/02/43757032/jamie-dimon-goes-off-on-return-to-office-critics-you-dont-have-to-work-at-jpmorgan">work-from-home Fridays</a>.
&#8220;Don&#8217;t give me this shit that work-from-home-Friday works,&#8221; Dimon told employees. &#8220;I call a lot of people on Fridays, and there&#8217;s not a goddamn person you can get a hold of.&#8221;
Dimon also admitted the bank had failed to keep pace with fintech innovations and even trailed some competitors. &#8220;Bank America does something better than us. Shocking, I know,&#8221; he said, noting they &#8220;were ahead of us in digital.&#8221;
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</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Jamie Dimon Says AI Will Change Your Jobs, But It May 'Eliminate' Some Careers As Well: Reskill, And Redeploy People

Senator Cynthia Lummis (R-WY) suggested adding Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) to the U.S. reserves on Sunday, highlighting the transparency and accessibility of the blockchain network
What Happened:&nbsp;Lummis posted her proposal in response to concerns shared by Elon Musk,&nbsp;the lead of the Department of Government Efficiency, over auditing of the U.S.&#8217;s gold reserves.
The senator emphasized the ease of auditing Bitcoin reserves, which can be done anytime using a basic computer. &#8220;It's time to upgrade our reserves,&#8221; the long-standing Bitcoin advocate said. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Bitcoin fixes this. A bitcoin reserve could be audited any time 24/7 with a basic computer. It's time to upgrade our reserves. <a href="https://t.co/ViA9FuJTg4">https://t.co/ViA9FuJTg4</a>
&mdash; Senator Cynthia Lummis (@SenLummis) <a href="https://twitter.com/SenLummis/status/1891159853814411290?ref_src=twsrc%5Etfw">February 16, 2025</a></blockquote>
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Musk&#8217;s concerns arose after an X user asked him to inspect Fort Knox, a heavily guarded U.S. Army base that houses about <a href="https://www.benzinga.com/markets/22/08/28537679/which-countries-own-the-most-gold">147 million ounces of gold</a>, according to the U. S. Mint website. Musk curiously asked, &#8220;Surely it's reviewed at least every year?<a href="https://twitter.com/SenLummis/status/1891159853814411290?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1891159853814411290%7Ctwgr%5Ead5be3941c136cb36f2d298ce20da1b76caed455%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Feditorial.benzinga.com%2Fwp-admin%2Fpost.php%3Fpost%3D784730action%3Dedit" target="_blank" rel="noreferrer noopener"></a>
A group of journalists and a congressional delegation were allowed to visit the site in 1974 over rumors the gold was removed from the vaults. The vaults were then opened in 2017 during the last Donald Trump administration, with Treasury Secretary Steve Mnuchin visiting along with a congressional delegation.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43721043/brian-armstrong-wants-to-handle-growing-volumes-of-memecoins-by-adding-dexes-into-coinbase-a-little-bit-like-the-early-days-of-the-internet">Brian Armstrong Wants To Handle Growing Volumes Of Memecoins By Adding DEXes Into Coinbase: &#8216;A Little Bit Like The Early Days Of The Internet&#8217;</a>
Why It Matters:&nbsp;Lummis&#8217; suggestion comes in the wake of Musk&#8217;s support for blockchain technology. The Tesla and SpaceX CEO has been vocal about the potential of blockchain to streamline operations and combat &#8220;fraudulent&#8221; activities within the <a href="https://www.benzinga.com/25/02/43425216/elon-musk-supports-putting-treasury-department-operations-on-blockchain-to-fix-irregularities">U.S. Treasury Department</a>.
Musk has also reportedly considered <a href="https://www.benzinga.com/25/01/43219929/musks-doge-department-reportedly-eyeing-blockchain-technology-to-slash-federal-spendingjustin-sun-pitches-tron">using a blockchain ledger</a> to track spending, secure data, and make payments to support his federal spending plans at the Department of Government Efficiency, also called DOGE.
DOGE is an entity<a href="https://www.benzinga.com/news/global/24/11/41927289/trump-appoints-elon-musk-and-vivek-ramaswamy-to-lead-doge-targeting-bureaucracy-and-65-trillion-federal-spending-we-will-not-go-gently" target="_blank" rel="noreferrer noopener"> tasked with cutting federal spending</a> and abolishing meaningless regulations.
Image via Shutterstock
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</ul>

Elon Musk Wonders If US Gold Reserves Are  Regularly Audited—Cynthia Lummis Tells DOGE Lead It's Time To Add Bitcoin For Transparency

Elon Musk is facing criticism from congressional Democrats for the billions his companies receive from the federal government, while questions about potential conflicts of interest remain unanswered.
During a House hearing on government efficiency, Rep. Greg Casar (D-TX) slammed House Republicans for overlooking Musk's $8 million daily earnings from federal contracts through SpaceX. Casar argued that while retirees survive on just $65 a day from Social Security, Musk's growing wealth from government deals is not being scrutinized. He also condemned Musk and President Donald Trump for firing inspectors general who traditionally oversee internal investigations into executive branch operations.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Casar: &quot;You know what Elon Musk doesn&#39;t seem to be looking into? His own contracts &#8230; we&#39;re not looking into Elon Musk&#39;s $8m a day. This subcommittee chaired by Marjorie Taylor Greene and the House Republicans is looking into your grandmother&#39;s $65 a day.&quot; <a href="https://t.co/U0SeKgjqE8">pic.twitter.com/U0SeKgjqE8</a>
&mdash; Aaron Rupar (@atrupar) <a href="https://twitter.com/atrupar/status/1889709785731240207?ref_src=twsrc%5Etfw">February 12, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Casar highlighted the significant influence Musk holds within the government, especially as the head of the White House's Department of Government Efficiency. He questioned why there is no investigation into Musk's federal contracts, especially given his active role in shaping government operations. According to Casar, this represents a major conflict of interest.
Musk's companies have secured numerous contracts with the federal government, amounting to billions in funding. Gwynne Shotwell, president and COO of SpaceX, confirmed in November that the company alone holds $22 billion worth of government contracts.
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>
At a press conference in the Oval Office, Musk defended <a href="https://www.benzinga.com/government/24/02/37221671/spacexs-1-8-billion-contract-with-pentagon-is-elon-musk-playing-a-role-in-us-national-security">SpaceX's government contracts</a>, emphasizing their value for taxpayers and clarifying that any contracts awarded to his companies were based on merit and cost-efficiency. &#8220;First of all, I&#8217;m not the one filing the contract. It&#8217;s people at SpaceX or something will be putting for the contract,&#8221; Musk said. &#8220;And I&#8217;d like to say if you see any <a href="https://www.benzinga.com/news/24/10/41414968/spacex-wins-major-us-space-force-contract-worth-734m-for-national-security-missions">contract where it was awarded to SpaceX</a> and it wasn&#8217;t by far the best value for money for the taxpayer, let me know, because every one of them was.&#8221;&nbsp;
Additionally, after information <a href="https://www.benzinga.com/markets/equities/25/02/43683937/teslas-400-million-armored-cybertruck-deal-under-fire-as-short-seller-jim-chanos-questions-elon-musks-doge-role-in-cutting-wasteful-government-spending">was revealed</a> on Thursday, the State Department revised its 2025 procurement forecast, removing a $400 million contract for "Armored Tesla (Production Units)" and replacing it with "Armored Electric Vehicles," eliminating direct mention of Tesla (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NYSE">TSLA</a>). Musk <a href="https://www.benzinga.com/25/02/43685285/tesla-ceo-elon-musk-denies-potential-400m-govt-contract-for-armored-vehicle-purchase">denied knowledge</a> of Tesla receiving the contract, saying on X that no one had informed him of such a deal.&nbsp;
See Also: <a href="https://www.benzinga.com/money/elon-musk-told-the-u-n-if-they-could-show-a-plan-for-ending-world-hunger-hed-donate-6-billion-i-will-sell-tesla-stock-right-now-and-do-it">Elon Musk Told The U.N. If They Could Show A Plan For Ending World Hunger He'd Donate $6 Billion – ‘I Will Sell Tesla Stock Right Now And Do It'</a>
Casar and other Democrats have also criticized Musk's involvement in cutting federal programs while profiting from government contracts. Recently, $80 million in FEMA funds allocated to New York for migrant assistance was revoked under Musk's oversight. Additionally, many government employees have been fired for participating in diversity training programs, even those conducted during Trump's previous term, raising further concerns about Musk's unchecked power.
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<li><a href="https://www.benzinga.com/money/millionaires-never-earned-six-figures-according-to-dave-ramsey">69% of Millionaires Never Earned A Six-Figure Salary – Here Are 2 Things They Do To Get Their First $1 Million, According To Dave Ramsey</a></li>
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Short Sellers

Elon Musk Gets '$8 Million A Day' From Taxpayers—Dem Question Why No One Is Investigating His Billions Of Dollars From Federal Government

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly considering adding advertising to Maps, mirroring Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google Maps model.
What Happened: During a recent all-hands meeting, Apple's Maps division revisited the idea of monetizing its navigation app, said Bloomberg columnist Mark Gurman in his latest weekly "Power On" newsletter.
Apple previously explored integrating search ads into Maps, allowing businesses to pay for higher placement in search results, similar to Google Maps.
See Also: <a href="https://in.benzinga.com/25/02/43647452/apple-follows-trumps-order-renames-gulf-of-mexico-google-already-made-the-change-but-these-two-companies-are-holding-out">Trump White House Boasts Apple&#8217;s &#8216;Gulf Of Mexico&#8217; Rename, But Pinch To Zoom And You Might Be Surprised</a>
This move would align with Apple's broader advertising strategy, which already includes search ads in the App Store, as well as ads in Apple News and Stocks.
Why It Matters: In 2023, during an antitrust trial against Google it was revealed that Google Maps usage on iPhones has dropped sharply. Since Apple switched to its own mapping service, Google has regained only <a href="https://www.benzinga.com/news/23/09/34745455/googles-map-dominance-crumbles-as-apple-maps-surges-on-iphones-reveals-finance-vp">40% of its previous mobile traffic</a>.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Last month, Apple posted fiscal <a href="https://in.benzinga.com/news/earnings/25/01/43355688/apple-q1-earnings-revenue-beat-eps-beat-iphone-sales-slip-installed-base-climbs-to-all-time-high-our-best-quarter-ever">first-quarter revenue</a> of $124.3 billion, surpassing analyst expectations of $124.13 billion. Services revenue reached $26.34 billion, rising from $23.12 billion a year ago.
Price Action: Apple&#8217;s stock climbed 0.02% to $244.65 in after-hours trading, following a 1.27% rise to $244.60 at Friday&#8217;s close, as <a href="https://pro.benzinga.com/dashboard">per Benzinga Pro</a>.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Photo Courtesy: BigTunaOnline On Shutterstock.com
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</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.

Apple Maps May Introduce Ads Similar To Google Maps As iPhone Maker Explores New Revenue Stream, Says Top Analyst

Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, announced Sunday he intends to &#8220;eventually&#8221; sell his Cybertruck, citing intense public hostility toward the Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) brand.
What Happened: &#8220;The hate is real. Haven&#8217;t seen this before IRL,&#8221; Gerber wrote on X, after spotting a black-wrapped Cybertruck with &#8220;F&#x2A;&#x2A;&#x2A; Musk&#8221; spray-painted on it. &#8220;The Tesla brand is broken,&#8221; he added. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The hate is real. Haven't seen this before IRL. The tesla brand is broken. &#x1f61e; Going to have to sell my Cybertruck eventually. (This is not mine. Saw this driving today) <a href="https://twitter.com/search?q=%24tsla&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$tsla</a> <a href="https://t.co/loMOohZWBd">pic.twitter.com/loMOohZWBd</a>
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1890932128390541408?ref_src=twsrc%5Etfw">February 16, 2025</a></blockquote>
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Gerber&#8217;s comments come amid a growing backlash against Tesla and its CEO Elon Musk. On Saturday, protesters gathered outside Tesla showrooms in numerous U.S. cities, including New York, Seattle, and across California, with some demonstrations drawing up to 100 people, <a href="https://www.theguardian.com/technology/2025/feb/16/protesters-target-tesla-stores-in-us-over-elon-musks-cost-cutting">reported</a> The Guardian.
The protests target Musk&#8217;s role in leading the Department of Government Efficiency under Trump administration, which has been rapidly dismantling government agencies and conducting <a href="https://www.benzinga.com/25/02/43425216/elon-musk-supports-putting-treasury-department-operations-on-blockchain-to-fix-irregularities">mass firings of federal workers</a>. Critics, including some constitutional experts, have questioned the legality of these actions.
See Also: <a href="https://www.benzinga.com/news/earnings/25/02/43756510/berkshire-hathaway-adjusts-portfolio-keeps-apple-stake-unchanged-offloads-stakes-in-bofa">Berkshire Hathaway Adjusts Portfolio, Keeps Apple Stake Unchanged, Offloads Stakes in BofA</a>
Why It Matters: Tesla&#8217;s brand challenges extend beyond protests. Singer Sheryl Crow publicly documented selling her Tesla on Instagram Saturday, <a href="https://www.instagram.com/p/DGEf88eBMVX/">writing</a> &#8220;There comes a time when you have to decide who you are willing to align with,&#8221; before donating to NPR, which she described as &#8220;under threat by President Musk.&#8221;
Some Tesla investors worry Musk&#8217;s close alliance with Trump and right-wing politics could hurt sales, particularly in liberal markets like California that have traditionally been Tesla&#8217;s strongest. The company reported its first-ever annual sales decline in 2024, though multiple factors may be <a href="https://in.benzinga.com/trading-ideas/25/02/43447273/tesla-sales-drop-12-in-california-is-elon-musks-support-for-donald-trump-hurting-ev-sales">contributing to this downturn</a>.
Tesla&#8217;s challenges appear international as well, with German <a href="https://www.benzinga.com/25/02/43534797/tesla-sales-drop-60-in-germany-are-elon-musks-politics-getting-in-the-way-of-ev-growth">sales reportedly dropping 60% year-over-year</a> in January following Musk&#8217;s December support for the far-right Alternative für Deutschland party.
Price Action: Tesla closed at $355.84 on Friday, down 0.028% for the day. In after-hours trading, the stock declined a further 0.52%. Over the past month, Tesla shares have fallen by 14.01%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
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Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Ross Gerber Says He's 'Eventually' Selling His Cybertruck Because The 'Hate Is Real' As Protests Rock Tesla Showrooms

Argentina President Javier Milei is facing calls for impeachment for promoting a controversial meme coin that first pumped and then dumped in value, destroying millions of dollars in investors' wealth.
What happened: An opposition bloc, led by Esteban Paulon from the Socialist Party, initiated a trial against Milei, demanding his presence in Congress to address allegations of corruption tied to the LIBRA meme coin launch.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">EL PRESIDENTE DEBE VENIR AL CONGRESO. NO PUEDE AUTOINVESTIGARSE Junto a <a href="https://twitter.com/MonicaFein?ref_src=twsrc%5Etfw">@MonicaFein</a> y <a href="https://twitter.com/NataliaDLSok?ref_src=twsrc%5Etfw">@NataliaDLSok</a> presentamos un pedido de juicio político para que <a href="https://twitter.com/JMilei?ref_src=twsrc%5Etfw">@JMilei</a> concurra con urgencia a <a href="https://twitter.com/DiputadosAR?ref_src=twsrc%5Etfw">@DiputadosAR</a> y en el marco de la Comisión rinda cuentas y ejerza su derecho a defensa <a href="https://twitter.com/hashtag/CryptoGate?src=hash&amp;ref_src=twsrc%5Etfw">#CryptoGate</a> <a href="https://t.co/kd7k2YR7uL">pic.twitter.com/kd7k2YR7uL</a>
&mdash; Esteban Paulon &#x1f308;&#x1f49a; (@EstebanPaulon) <a href="https://twitter.com/EstebanPaulon/status/1891203732404093293?ref_src=twsrc%5Etfw">February 16, 2025</a></blockquote>
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Milei pushed the Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based coin via X on Friday, tying it to a private initiative to aid small businesses and encourage investments in Argentina.
The coin's price shot up to $5 after the president's post, but within three hours, plunged to $1 apiece as insiders began cashing out.&nbsp;
According to capital markets commentator The Kobeissi Letter, nearly $87.4 million worth of LIBRA was liquidated by multiple large holders.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It all began with this post at 5:01 PM ET from Javier Milei. As seen during President Trump&#39;s memecoin launch, the first hour was full of speculation: Was this a hack or a real launch? It turned out to be real as multiple other Argentinian politicians posted the news. <a href="https://t.co/cL0ZQgxtCB">pic.twitter.com/cL0ZQgxtCB</a>
&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1890611964994363769?ref_src=twsrc%5Etfw">February 15, 2025</a></blockquote>
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The coin was down 64% since launch, with market capitalization crashing from $641 million to $76 million at the time of writing, according to CoinMarketCap.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43721043/brian-armstrong-wants-to-handle-growing-volumes-of-memecoins-by-adding-dexes-into-coinbase-a-little-bit-like-the-early-days-of-the-internet">Brian Armstrong Wants To Handle Growing Volumes Of Memecoins By Adding DEXes Into Coinbase: &#8216;A Little Bit Like The Early Days Of The Internet&#8217;</a>
Milei has since deleted the initial promotional post, saying, "I was not aware of the details of the project, and after having become aware of it, I decided not to continue spreading the word."
The president's office has involved the Anti-Corruption Office to investigate if any member of the national government, including the president himself, has committed misconduct.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">La Oficina del Presidente informa que el pasado 19 de octubre el Presidente Javier Milei mantuvo un encuentro con los representantes de KIP Protocol en Argentina en el que se le comentó la intención de la empresa de desarrollar un proyecto llamado "Viva la Libertad" para…
&mdash; Oficina del Presidente (@OPRArgentina) <a href="https://twitter.com/OPRArgentina/status/1890937875677495542?ref_src=twsrc%5Etfw">February 16, 2025</a></blockquote>
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Why It Matters: The LIBRA meme coin launch was the second such endeavor supported by a head of state, following President Donald Trump's launch of his Official Trump (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) coin. 
Argentine lawyers filed charges against Milei in criminal court on Sunday, <a href="https://apnews.com/article/argentina-milei-cryptocurrency-fraud-charges-c0321f320a00cdb58edfb365ba8ce0f8">reported</a> The Associated Press. Lawyer and plaintiff, Jonatan Baldiviezo, told AP that according to them there was an illicit association to carry out an &#8220;indeterminate number of frauds&#8221; in the LIBRA meme coin event.
The TRUMP coin has also cratered since the initial frenzy, down 74% from its peak. 
Milei secured victory in the November elections after promising large cuts in public spending to address Argentina's fiscal deficit and increasing inflation. A libertarian, <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39404161/argentina-president-javier-milei-makes-passionate-pitch-for-currency-competition-if-you-wa">Milei is known for his support</a> for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), the world's largest cryptocurrency.
Photo courtesy: Shutterstock
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$SOL

Javier Milei Faces Impeachment For Promoting Tainted LIBRA Memecoin After Pump And Dump — Argentine Lawyers File Criminal Charges

Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) and Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) are reportedly considering deals that could lead to the breakup of Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>).
What Happened: ​​Broadcom has been analyzing a potential bid for Intel's chip design and marketing business, <a href="https://www.wsj.com/tech/broadcom-tsmc-eye-possible-intel-deals-that-would-split-storied-chip-maker-966b143b">reported</a> the Wall Street Journal, citing people familiar with the matter.
However, it seeks a partner to take over the company's manufacturing unit before formally making a move.&nbsp;
Meanwhile, TSMC has studied acquiring Intel's chip plants, potentially through an investor consortium or another structured deal, the report noted, citing people familiar with the discussion.
Broadcom and TSMC are not working together, and talks remain preliminary and informal.
See Also:&nbsp;<a href="https://in.benzinga.com/markets/equities/25/01/43376506/intel-will-be-fighting-for-every-socket-in-the-data-center-business-says-co-ceo-michelle-holthaus-as-competition-from-amd-nvidia-heats-up" target="_blank" rel="noreferrer noopener">Intel ‘Will Be Fighting For Every Socket' In The Data Center Business, Says Co-CEO Michelle Holthaus As Competition From AMD, Nvidia Heats Up</a>
Why It Matters: The U.S. government has also stepped in, with the Donald Trump administration reportedly asking TSMC to explore the <a href="https://www.benzinga.com/markets/25/02/43685791/taiwan-semiconductor-could-be-the-lifeline-intel-needs-as-rumors-swirl-of-a-us-backed-joint-venture">possibility of acquiring</a> Intel's factories while simultaneously opposing foreign control of the facilities due to national security concerns, the report noted.
Intel&#8217;s board is currently <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42275410/intel-ceo-pat-gelsinger-forced-out-by-board-analysts-cheer-potential-strategy-shift-this-move-opens-the-door">searching for a new CEO</a>, with the company&#8217;s future direction hinging on the outcome of these potential deals.
Intel&#8217;s stock dropped 60% last year due to lagging in AI chip advancements. Its <a href="https://www.benzinga.com/insights/earnings/25/01/43353848/intel-earnings-analysis-q4-recap">latest earnings report</a> showed a third consecutive quarter of declining revenue, with a bleak outlook ahead.
Price Action: Intel's stock inched up 0.043% after hours to $23.61, following a 2.20% drop on Friday, closing at $23.60, per <a href="http://pro.benzinga.com/">Benzinga Pro data</a>. TSMC's stock dipped 0.055% after hours to $203.79. It had gained 1.03% during regular trading on Friday, closing at $203.90. Broadcom's stock slipped 0.18% after hours to $232.61. On Friday, it fell 1.17% to close at $233.04.
Image via Shutterstock
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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.

AVGO

INTC

Intel Could Be Split In Two As Broadcom And TSMC Explore Deals, Trump White House Resists Foreign Ownership: Report

Editor&#8217;s Note: This article has been updated to include the latest information on Xi Jinping&#8217;s meeting with technology leaders and associated market fluctuations.
Chinese President Xi Jinping held a rare high-level symposium with the country&#8217;s leading entrepreneurs on Monday, including Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BABAF#OTC">BABAF</a>)&nbsp; founder Jack Ma, marking Ma&#8217;s most significant public engagement with top leadership since <a href="https://www.benzinga.com/news/20/11/18186034/alibabas-stock-falls-as-ant-group-ipo-is-suspended-in-china">Beijing&#8217;s 2020 tech crackdown</a>.
What Happened: The gathering, which included Xiaomi CEO Lei Jun, Huawei founder Ren Zhengfei, and electric vehicle maker BYD&#8217;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) Wang Chuanfu, comes as Chinese tech stocks reach their highest levels since February 2022, <a href="https://www.scmp.com/economy/china-economy/article/3298944/xi-hosts-symposium-chinas-top-entrepreneurs">reported</a> South China Morning Post.&nbsp;
Alibaba&#8217;s Hong Kong shares surged over 4% in early trading Monday before plunging at HKD 119.60 ($15.37), down 3.63%.&nbsp;
See Also:<a href="https://www.benzinga.com/trading-ideas/long-ideas/25/02/43756457/benzinga-bulls-and-bears-apple-nvidia-netflix-and-trader-predicts-dogecoin-surge-by-march-24"> Benzinga Bulls and Bears: Apple, Nvidia, Netflix and Trader Predicts Dogecoin Surge by March 24</a>
Why It Matters: Recent developments have provided some optimism. The emergence of <a href="https://www.benzinga.com/markets/25/02/43520950/deepseeks-ai-model-drives-surge-in-chinese-tech-stocks-closing-gap-with-us-magnificent-seven">the domestic AI model DeepSeek</a> and reports of Alibaba&#8217;s potential collaboration with Apple Inc. to bring AI features to iPhones in China by mid-2025 have fueled market enthusiasm.&nbsp;
The China Enterprises Index jumped 4.1% last Friday, with Alibaba&#8217;s Hong Kong shares gaining over 50% in the past month.
However, challenges loom as U.S.-China tensions escalate. Following Trump&#8217;s recent 10% tariff implementation on Chinese products, Beijing retaliated with similar measures and increased export controls on critical minerals.
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Image Via Shutterstock&nbsp;
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Asia

BABA

ALIBABA GROUP HOLDING LTD by Alibaba Group Holding Limited

BABAF

Xi Jinping Meets Tech Giants As Chinese Markets Rally On Private Sector Support (UPDATED)

Leading cryptocurrencies slid on Sunday, as the market endured dwindling volume and volatility.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-1.34%</td>
<td>$96,387.98</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-1.23%</td>
<td>$2,669.97</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>-2.39%</td>
<td>$0.2661</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin consolidated between $96,000 and $97,650, extending the sideways market trajectory since recovering from the <a href="https://in.benzinga.com/markets/cryptocurrency/25/02/43455908/dogecoin-regains-momentum-after-black-sunday-rout-heres-what-indicators-signal-about-the-memecoins-next-moves">‘Black Sunday'</a> crash. Ethereum dipped below $2,700, falling to an intraday low of $2,655.30. 
The two blue-chip assets witnessed a decline in 24-hour trading volumes, suggesting weak demand.
Cryptocurrency liquidations rose above $109 million in the last 24 hours, with long liquidations amounting to $78 million.
Over $300 million in short positions risked liquidation if Bitcoin rises to $100,000.
About 52% of Bitcoin derivatives traders were positioned short, according to the Long/Short Ratio, implying a further decline in prices.
Market sentiment remained "Neutral," according to the Crypto Fear &amp; Greed Index, indicating no clear dominance of either bullish or bearish forces.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>PancakeSwap (CAKE)</td>
<td>+4.90%</td>
<td>$2.82</td>
</tr>
<tr>
<td>Hyperliquid (HYPE)</td>
<td>+4.02%</td>
<td>$26.88</td>
</tr>
<tr>
<td>Sonic (S)</td>
<td>+3.38%</td>
<td>$0.5328</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.2 trillion, contracting 1.16% in the last 24 hours.
Stock futures were largely unchanged on Sunday evening. The Dow Jones Industrial Average Futures traded on the flatline at 7:39 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 rose 0.03%, while Nasdaq 100 Futures added 0.04%.
The New York Stock Exchange and Nasdaq will be closed for trading Monday in observance of the Presidents Day holiday, also known as Washington&#8217;s Birthday.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Cryptocurrency analyst CrypNuevo, who has a large following, forecasted a &#8220;nice&#8221; trading week and pointed out important levels of interest on Bitcoin&#8217;s chart.
"I do think that the upside liquidations will likely get hit fairly soon ($99,200) but would love to re-enter at the lower liquidations ($93,300) first.
The analyst also cautioned against longing the range lows "blindly" as he projected Bitcoin to dip further to $88,000 if it touched range lows of $91,000.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> Sunday update: We should have a nice trading week ahead thanks to a quiet economic calendar. Only remember that Monday is US Bank Holiday so could be a longer weekend. I mapped out the main levels and triggers for my own trading. Let me share them with you: &#x1f9f5;↓ (1/5): <a href="https://t.co/BdImZ7M7r7">pic.twitter.com/BdImZ7M7r7</a>
&mdash; CrypNuevo &#x1f528; (@CrypNuevo) <a href="https://twitter.com/CrypNuevo/status/1891274432611512340?ref_src=twsrc%5Etfw">February 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Influential cryptocurrency expert and trader Ali Martinez warned that if Ethereum failed to hold $2,570, the next "key" support level was at $2,200.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> fails to hold $2,570, the next key support level to watch is $2,200. <a href="https://t.co/8OpnVfpyhs">pic.twitter.com/8OpnVfpyhs</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1891137458466681001?ref_src=twsrc%5Etfw">February 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo Courtesy: Shutterstock
Read Next:    
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43758789/exclusive-bitcoin-has-capacity-to-become-legal-tender-in-europe-says-eu-member-of-parliament-sarah-knafo-i-am-going-to-fight-the-digital-euro-and-the-totalitaria">EXCLUSIVE: Bitcoin Has &#8216;Capacity&#8217; To Become Legal Tender In Europe, Says EU Member Of Parliament Sarah Knafo: &#8216;I Am Going To Fight The Digital Euro&#8217; And The Totalitarian ECB</a></li>
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Bitcoin, Ethereum, Dogecoin Dip As Investors Seek Volatility Over A Dull Weekend: Analyst Thinks 'Blindly' Longing The BTC Range Lows May Not Be A Good Idea

Elon Musk&#8217;s xAI plans to unveil its latest chatbot, Grok 3, on Monday.
What Happened: Musk took to X, formerly Twitter, and shared the development calling Grok 3 the "Smartest AI on Earth." The launch will feature a demonstration at 8 p.m. Pacific time.
<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">Grok 3 release with live demo on Monday night at 8pm PT. Smartest AI on Earth.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1890958798841389499?ref_src=twsrc%5Etfw">February 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The announcement follows Musk&#8217;s presentation at the World Government Summit in Dubai on Thursday, where he highlighted Grok 3&#8217;s capabilities.
The AI model, trained on synthetic data, is designed to reflect on its mistakes by revisiting data to ensure logical consistency, <a href="https://www.bloomberg.com/news/articles/2025-02-16/musk-says-xai-s-grok-3-chatbot-will-be-released-monday">reported</a> Bloomberg.
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: Grok 3&#8217;s launch coincides with a global push for advanced and cost-effective AI chatbots. China's DeepSeek, which shocked markets with a <a href="https://in.benzinga.com/markets/25/02/43586484/google-deepmind-ceo-calls-deepseek-ai-best-work-from-china-but-says-hype-is-overblown-theres-no-actual-new-scientific-advance">model rivaling</a> OpenAI's ChatGPT, is rapidly hiring experts.
OpenAI is also reportedly moving forward with <a href="https://in.benzinga.com/markets/equities/25/02/43591228/sam-altmans-openai-set-to-finalize-in-house-ai-chip-reducing-dependence-on-nvidia-report">developing its own AI chip</a>. This could lessen its dependence on Nvidia Corporation. Sam Altman's company has also decided to <a href="https://www.benzinga.com/25/02/43682008/openai-phases-out-standalone-o3-gpt-5-to-offer-unified-aialtman-reveals-vague-release-timelines-after-admitting-we-hate-the-model-picker-as-much-as-you-do">simplify its AI lineup</a> by discontinuing the standalone &#8216;o3&#8217; model.
Last year in November, xAI achieved a <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">valuation of $50 billion</a>, a feat that took OpenAI nearly nine years to accomplish.
Meanwhile, OpenAI&#8217;s <a href="https://www.benzinga.com/25/02/43755069/openai-board-rejects-elon-musks-97-billion-acquisition-proposal-days-after-sam-altman-calls-it-a-move-to-slow-down-a-competitor">board has rejected Musk's</a> $97.4 billion acquisition proposal.
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>.
Photo courtesy: Shutterstock
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<li><a href="https://www.benzinga.com/markets/equities/25/02/43746268/david-tepper-rausing-family-boost-nvidia-holdings-ahead-of-stock-volatility" target="_blank" rel="noreferrer noopener">David Tepper, Rausing Family Boost Nvidia Holdings Ahead Of Stock Volatility</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.

Elon Musk's xAI To Unveil Grok 3 On Monday As AI Race With ChatGPT-Parent OpenAI And China's DeepSeek Heats Up

Bitcoin has had a rollercoaster ride lately. After <a href="https://www.benzinga.com/startups/25/02/43463099/donald-trumps-25-tariff-plan-only-tough-measures-will-level-the-playing-field-kevin-oleary-explains-the-strategy">President Donald Trump</a>'s election, the cryptocurrency surged past <a href="https://www.theverge.com/2024/12/4/24303204/bitcoin-price-hit-100000">$100,000 in December</a>, fueled by expectations of pro-crypto policies.&nbsp;
But when Trump announced plans to impose steep tariffs on imports from Canada, Mexico, and China, <a href="https://cointelegraph.com/news/bitcoin-91k-dip-trump-tariffs-macro-sensitivity">Bitcoin's value dipped below $91,000</a>—its lowest in three weeks. That didn't last long, though, as Bitcoin quickly rebounded.
Grant Cardone, a real estate investor and private-equity fund manager, sees Bitcoin continuing its climb. "I predict Bitcoin at $250,000 this year, and I think we will hit a million dollars by 2030," he <a href="https://www.gobankingrates.com/investing/crypto/grant-cardone-predicts-bitcoin-will-reach-1m-by-2030-still-cautions-against-buying-it/">told GOBankingRates</a>.&nbsp;
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<li>Over the last five years, the price of gold has increased by approximately 83% — Investors like Bill O&#8217;Reilly and Rudy Giuliani are using this platform to <a href="https://tracking.hgoldgroup.com/aff_c?offer_id=40&amp;aff_id=1053&amp;aff_sub=y2">create customized gold IRAs to help shield their savings from inflation and economic turbulence. </a></li>
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His confidence comes from the current administration's crypto-friendly stance. "Donald Trump's pro-crypto, Howard Lutnick, the commerce secretary, is pro-crypto," Cardone said. "Everybody in the administration is like, why not have a new form of currency, which is digital? It's proven—it's not a new thing. It's 15 years old."
That said, Cardone doesn't think Bitcoin is the right move for every investor. He has three criteria for making investment decisions: protecting his capital, generating cash flow, and ensuring long-term value growth.&nbsp;
Trending: Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-y2">Last Chance to get 4,000 of its pre-IPO shares for just $0.26/share!</a>
"No. 1 for me is, I don't want to lose my money," he told GOBankingRates. "No. 2 for me is, will I get cash flow? No. 3, the perfect scenario would be not only won't I lose it and I get cash flow, but it's going to go up in value over long periods of time."
Bitcoin doesn't check all those boxes, so he doesn't recommend it as a direct investment for most people. "I'm not telling people to go out and buy Bitcoin," Cardone said. "I don't think most people should because it doesn't create cash flow, and it doesn't have tax advantages."
Instead, he launched the <a href="https://www.globenewswire.com/news-release/2024/12/26/3002011/0/en/Grant-Cardone-Introduces-First-Ever-Real-Estate-Bitcoin-Hybrid-Fund-With-Cardone-Capital-s-Latest-Offering.html">10X Space Coast Bitcoin Fund</a>, an $87.5 million fund that blends real estate investments with Bitcoin purchases. "I came up with a way for people to actually own Bitcoin without buying the Bitcoin," he explained. "We're using real estate cash flow, which is very stable and has great tax write-offs.&nbsp;
See Also: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl-y2"> you can become an investor for $0.80 per share today.</a>
Then we're adding Bitcoin, which is very unpredictable, very volatile. It could explode to the upside, it could go down. But if you can hold it for long periods and put the two together, you take a real estate project that would do 10% and turn it into a real estate project that could do 30% or 40% or even 50% a year."
The fund focuses on acquiring multifamily properties that generate consistent cash flow while gradually investing in <a href="https://www.benzinga.com/24/11/42009965/vaneck-ceo-boldly-predicts-bitcoin-at-300k-per-coin-reaching-half-of-golds-market-cap-in-the-face-of-growing-demand">Bitcoin</a> over four years. The idea is to balance Bitcoin's volatility with the stability of real estate.
As of Feb. 11, Bitcoin was trading at around<a href="https://finance.yahoo.com/quote/BTC-USD/history/"> $94,700.84</a>, a 98.3% increase over the past year. Some analysts <a href="https://www.forbes.com/sites/digital-assets/2025/01/01/what-is-bitcoins-price-prediction-for-2025/">told Forbes</a> last month they believe Bitcoin could hit $150,000 this year, while others see it reaching $250,000, depending on institutional adoption and regulatory policies.
<h2 class="wp-block-heading">Interest Rates Are Falling, But These Yields Aren't Going Anywhere</h2>
Lower interest rates mean some investments won't yield what they did in months past, but you don't have to lose those gains. Certain private market real estate investments are giving retail investors the opportunity to capitalize on these high-yield opportunities.
<a href="https://www.benzinga.com/go/arrived-private-credit-yf">Arrived Home's Private Credit Fund&#8217;s has historically paid an annualized dividend yield of 8.1%&#x2A;</a>, which provides access to a pool of short-term loans backed by residential real estate. The best part? Unlike other private credit funds, <a href="https://www.benzinga.com/go/arrived-private-credit-yf">this one has a minimum investment of only $100.&nbsp;</a>
Looking for fractional real estate investment opportunities? The <a href="https://www.benzinga.com/alternative-investments/real-estate">Benzinga Real Estate Screener</a> features the latest offerings.

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