KraneShares Emerging Markets Consumer Technology Index ETF (ARCA: KEMQ)

KraneShares Emerging Markets Consumer Technology Index ETF (ARCA:KEMQ), Quote.Headers.trade-ideas

Consumer Cyclical

Communication Services

Technology

Healthcare

Other

Financial Services

Industrials

Consumer Defensive

Under normal circumstances, the fund will invest at least 80% of its total assets in components of the index, depositary receipts, including ADRs, representing such components and securities underlying depositary receipts in the index. The index is composed of the equity securities of the 50 companies with the largest market capitalization that are headquartered in certain emerging market and frontier countries and engaged in the consumer or technology sectors. The fund is non-diversified.

Taiwan Semiconductor Manufacturing Co. Ltd.

Alibaba Group Holding Ltd

Meituan Dianping

Naspers Ltd

Sk Hynix Inc

Zomato Ltd

Sea Ltd., Adr

KraneShares Emerging Markets Consumer Technology Index ETF

Long Ideas

News

Sector ETFs

Emerging Markets

Emerging Market ETFs

Retail Sales

Markets

Trading Ideas

ETFs

AMZN

KEMQ

The burgeoning realm of thematic exchange-traded funds is home to a slew of products that are benefiting from seismic shifts caused by the coronavirus pandemic.

Coronavirus Pandemic Lifted This ETF, But It Should Thrive Afterward

Emerging markets equities aren&#39;t awful this year, but with the MSCI Emerging Markets Index up just 1.52% year to date, the asset class isn&#39;t anything to write home about, unless investors know where to look.

Where To Be In The Emerging Markets Renaissance

Although it&#39;s been perking up recently, the MSCI Emerging Markets Index is again lagging domestic stocks as the emerging markets benchmark is lower by 4.28% year to date, a showing that&#39;s more than 200 basis points worse than the S&amp;P 500.

Not All Emerging Markets Stocks Are Duds — This ETF Proves As Much

Many Americans are banking on working longer to make up for a <a href="https://www.benzinga.com/personal-finance/24/08/40295808/youre-40-50-or-60-do-you-know-how-much-you-should-have-saved-for-retirement-by-now">lack of retirement savings</a>. According to a recent CNBC and SurveyMonkey survey, about 27% of workers plan to stay employed during their retirement years to boost their income.&nbsp;
The poll, conducted in early August, included over 6,600 U.S. adults, split between retirees and those still in the workforce.
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It's a strategy that sounds solid at first glance. After all, staying employed into your 60s or 70s should allow you to continue earning money while giving your retirement savings more time to grow. But according to financial experts, this plan might not be as foolproof as it seems.
The Risk of Working Longer
While extending your working years is appealing, it doesn't always go according to plan. Health issues or unexpected layoffs can suddenly throw a wrench in those plans. "It sounds great on paper," said Philip Chao, founder of Experiential Wealth in Maryland. "But reality could be very different."
If workers are forced out of the job market sooner than expected, they may find themselves scrambling to stretch out their retirement savings, and that's where things can get tricky.
Trending: <a href="https://www.benzinga.com/money/charlie-munger-100k">Charlie Munger said if you want to be rich, &#8220;find a way to get your hands on $100,000&#8221; — here&#8217;s what he means.</a>
Early Retirement Happens More Often Than You Think
Data shows that many Americans end up retiring earlier than they intended. According to a Gallup poll, a consistent five-year gap exists between when people expect to retire and when they do. In 2023, for instance, non-retirees anticipated working until age 66, but most retirees had <a href="https://www.benzinga.com/personal-finance/24/04/38439971/should-you-begin-collecting-social-security-at-62-67-or-70-the-right-answer-may-depend-on-your-b">left the workforce by 62</a>.
This trend isn't new. Research from the <a href="https://www.ebri.org/docs/default-source/rcs/2023-rcs/rcs_23-fs-2.pdf?sfvrsn=708d392f_4#:~:text=The%20RCS%20has%20consistently%20found,'%20expectations%20and%20retirees'%20experiences.">Employee Benefit Research Institute</a> (EBRI) shows that 46% of retirees <a href="https://www.benzinga.com/personal-finance/24/06/39497325/the-average-millennial-expects-to-retire-before-60-why-many-think-this-is-unattainable">left the workforce earlier than planned</a>. So while a third of workers say they aim to retire at 70 or later – or maybe never – only 6% of retirees manage to stick around that long.
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>
The "Escape Valve" That Might Not Work
Many Americans rely on the idea of pushing back retirement as a kind of "escape valve" for financial security. However, as Chao puts it, "saying it and doing it are two totally different things." He warns that this assumption could be a "very dangerous" gamble.
The reasons for those who retire earlier than expected are often out of their control. According to the EBRI survey, 35% retired early due to health issues or disabilities, while 31% faced company-related changes like layoffs.
Working longer seems like a simple solution to building up retirement funds, but reality is far more unpredictable. Life throws curveballs, and relying too much on a late retirement may not be the <a href="https://www.benzinga.com/money/can-you-guess-how-many-americans-successfully-retire-with-1-million-saved">safety net people think it is</a>. Having other options in place is crucial because sometimes, life has other plans.
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</ul>

Personal Finance

People Who Don't Save Enough For Retirement Think Working Longer Will Help – But Experts Warn This 'Escape Valve' Is A Dangerous Gamble

The U.S. Securities and Exchange Commission (SEC) is preparing to reprimand Elon Musk for his absence from a scheduled hearing. This testimony is part of an ongoing investigation into Musk&#8217;s $44 billion acquisition of X, <a href="https://www.benzinga.com/news/24/08/40147580/heres-how-an-elon-musk-backed-pac-harnesses-voter-data-to-support-donald-trump">previously known as Twitter</a>.
What Happened: Musk was expected to testify before the SEC on September 10. However, Musk&#8217;s lawyer informed the SEC that Musk had to urgently travel to Cape Canaveral, Florida for the launch of SpaceX&#8217;s Polaris Dawn, thereby missing the testimony.
According to a report <a href="https://thehill.com/policy/technology/4891840-sec-reprimands-elon-musk-twitter/">by</a> The Hill, this is the second time Musk has failed to appear before the SEC in relation to the probe into his acquisition of the social media platform, now known as X.
&#8220;Musk has now failed to appear before the SEC twice: first in September 2023, in defiance of a lawful administrative subpoena, and last week, in defiance of a clear court order,&#8221; stated SEC&#8217;s lawyer Robin Andews in the court filing.
Alex Spiro, Musk&#8217;s lawyer, has labeled the SEC&#8217;s sanctions as &#8220;drastic&#8221; and confirmed that a new date for the testimony has been agreed upon. 
Also Read: <a href="https://www.benzinga.com/news/24/09/40866970/new-book-reveals-elon-musks-twitter-buy-fumble-and-mix-up-over-grimes-baby-name">New Book Reveals Elon Musk&#8217;s Twitter Buy Fumble And Mix-Up Over Grimes&#8217; Baby Name</a>
He emphasized that the rescheduling was due to a &#8220;critical&#8221; rocket launch and dismissed concerns of a similar emergency happening in the future.
Meanwhile responding to SEC&#8217;s claim Musk went on X and said that &#8216;actual crimes go unpunished&#8217;. 
<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">While actual crimes go unpunished
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1837387386637930896?ref_src=twsrc%5Etfw">September 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: The SEC&#8217;s reprimand of Musk underscores the regulatory body&#8217;s commitment to enforcing compliance, even when dealing with high-profile individuals like Musk. 
This incident also highlights the challenges Musk faces in balancing his responsibilities as CEO of Tesla and his other ventures, such as SpaceX. 
The SEC&#8217;s ongoing probe into Musk&#8217;s acquisition of Twitter, now X, is a significant event, given the size of the deal and the potential implications it could have on the social media landscape. 
The outcome of this investigation could set a precedent for future tech acquisitions and regulatory compliance.
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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

Elon Musk Faces SEC Backlash Over Missed Testimony, Quips 'Actual Crimes Go Unpunished'

The popular party game company Cards Against Humanity has hit Elon Musk&#8217;s SpaceX with a $15 million lawsuit. The lawsuit alleges that SpaceX trespassed and <a href="https://www.benzinga.com/news/24/09/40762349/x-faces-major-advertiser-exodus-amid-string-of-elon-musk-controversies">caused damage to their land in Texas</a>.
What Happened: Cards Against Humanity has accused SpaceX of trespassing and littering on their land near the Texas-Mexico border. 
The land, which was bought through crowdfunding in 2017, was reportedly cleared of vegetation and used as a dumping ground by SpaceX&#8217;s Starbase.
The lawsuit was lodged in a Texas court last week. Cards Against Humanity alleges that SpaceX offered to buy the land for less than half its value, giving them a 12-hour ultimatum to accept the offer. 
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In a <a href="https://www.elonowesyou100dollars.com/">letter</a> posted online, the company said, &#8220;Elon Musk's SpaceX was building some space thing nearby, and he figured he could just dump his s&#8212; all over our gorgeous plot of land without asking. After we caught him, SpaceX gave us a 12-hour ultimatum to accept a lowball offer for less than half our land's value.&#8221;
In a humorous twist, the company suggested they would accept Twitter.com as compensation, a nod to Musk&#8217;s recent $44 billion acquisition of the social media platform.
Despite SpaceX purchasing neighboring lots, it has allegedly ignored the &#8220;no trespassing&#8221; sign on Cards Against Humanity&#8217;s land. 
The lawsuit claims that the land has been used as a staging area for SpaceX&#8217;s construction projects, causing damage and straining the game company&#8217;s relationship with its supporters.
Why It Matters: This lawsuit comes at a time when SpaceX has been expanding its operations in Texas, with the purchase of several neighboring lots. 
The alleged trespassing and damage to Cards Against Humanity&#8217;s land could potentially impact SpaceX&#8217;s reputation and future expansion plans. 
Furthermore, the lawsuit could set a precedent for other landowners in the area who may have similar grievances. As of now, SpaceX has not commented on the lawsuit.
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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.

Party Game Company Sues Musk's SpaceX: A $15M Land Dispute That Could Change Everything

Famed data analyst Nate Silver&#8216;s election forecast shows Kamala Harris with a better chance of winning the presidency than Donald Trump <a href="https://www.benzinga.com/news/24/09/40669286/harris-vs-trump-this-candidate-leading-in-numerous-polls-transforming-political-landscape">for the first time since August 28</a>.
What Happened: According to his Silver Bulletin <a href="https://www.natesilver.net/p/nate-silver-2024-president-election-polls-model">site</a>, Silver says the race is still up in the air, and the lead could potentially change again due to the forecast being so close to a 50/50 split.
&#8220;Harris is technically the favorite in the model for the first time since Aug. 28 — but the race is a toss-up,&#8221; Silver wrote. He currently gives Harris a 52 percent chance of victory. FiveThirtyEight, founded by but no longer affiliated with Silver, uses a different model that shows Harris with a 60 percent chance of defeating Trump.
Also Read: <a href="https://www.benzinga.com/news/24/09/40869086/trump-vs-harris-new-poll-reveals-post-debate-swing-towards-this-candidate-in-key-state">Trump Vs Harris: New Poll Reveals Post-Debate Swing Towards This Candidate In Key State</a>
Despite Harris&#8217; perceived victory in the presidential debate, Silver&#8217;s model indicates that neither candidate lost or gained much support.
However, Harris did experience a slight increase in support around August 23, following her official nomination as the party&#8217;s candidate at the Democratic National Convention in Chicago, <a href="https://thehill.com/homenews/campaign/4890948-vice-president-harris-leads-trump-poll/">reports</a> Business Insider.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/09/40866884/trump-vs-harris-tense-standoff-in-nail-biter-polls" target="_blank" rel="noreferrer noopener">Trump Vs. Harris: Tense Standoff In Nail-Biter Polls</a>
In crucial swing states, Silver&#8217;s model shows Harris leading in Pennsylvania, Wisconsin, Michigan, Nevada, and Minnesota, while Trump is ahead in North Carolina, Georgia, and Arizona.
The Hill/Decision Desk HQ&#8217;s poll aggregation also shows Harris leading Trump nationally by a 3.6 percentage point margin. However, Silver warned that neither side should be overly confident as &#8220;stranger things have happened than a candidate who was behind in the polls winning.&#8221;
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Why It Matters: The fluctuating leads in the election forecast underscore the unpredictable nature of the race. 
The fact that Harris has managed to surpass Trump for the first time since August indicates a potential shift in voter sentiment. However, with the race being so close, it&#8217;s clear that the outcome is far from decided.
As the election draws nearer, the focus on key swing states will intensify. The leads that Harris and Trump hold in these states could ultimately determine the election&#8217;s outcome. 
Therefore, the candidates&#8217; strategies in these states will be crucial in the coming weeks.
Read Next
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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.

Politics

Nate Silver's Forecast: Kamala Harris Retakes Lead Over Donald Trump

In the wake of a recent Secret Service probe into Elon Musk&#8216;s online remarks, billionaire entrepreneur Mark Cuban has come to the defense of the Tesla Inc. CEO&#8217;s contentious <a href="https://www.benzinga.com/news/24/07/39999410/what-a-second-trump-presidency-would-mean-for-elon-musk-and-his-many-ventures">social media conduct</a>.
What Happened: In a recent podcast <a href="https://youtu.be/QqDPrv8oFyY?feature=shared">interview</a>, Cuban characterized Musk&#8217;s online conduct as &#8220;kind of insane&#8221; but not out of character for the Tesla chief.
The dialogue ensued following Musk&#8217;s recent jest about pop icon Taylor Swift&#8216;s endorsement of Vice President Kamala Harris for the presidency. Cuban, who has previously corresponded with Musk, stood up for the tycoon&#8217;s comedic style. In the interview Cuban said that Musk&#8217;s joke was &#8220;kind of insane&#8221; and defended him by saying &#8220;that&#8217;s just the kind of banter you&#8217;d expect from him.&#8221;
Cuban also said that he sent Musk a text once adding that they&#8217;re &#8220;not friends&#8221; but have communicated in the past.
&#8220;We just texted back and forth a few times and he had just had a child, and I said: &#8216;Congrats on your 90th child,'&#8221; Cuban said during the interview.
&#8220;And his response was — &#8216;Mars needs people.&#8217; Right, so that&#8217;s just Elon&#8217;s sense of humor, right? I have no problem throwing Elon under the bus, but I&#8217;ll save it for when it&#8217;s truly deserved,&#8221; he said.
Also Read: <a href="https://www.benzinga.com/news/23/04/31622549/mark-cuban-asks-elon-musk-why-hes-losing-followers-despite-paying-for-twitter-blue">Mark Cuban Asks Elon Musk Why He&#8217;s Losing Followers Despite Paying For Twitter Blue</a>
Musk&#8217;s digital behavior has previously gotten him into trouble. In 2018, a tweet about making Tesla a private company resulted in a $40 million agreement with the Securities and Exchange Commission. 
More recently, a tweet speculating about a potential assassination attempt on former President Donald Trump triggered a Secret Service investigation.
The Secret Service verified to Bloomberg that they were cognizant of Musk&#8217;s tweet but refrained from further comments due to ongoing enforcement actions. Musk removed the tweet on the same day, subsequently tagging it as a joke.
Why It Matters: Musk&#8217;s social media behavior has been a topic of controversy and legal scrutiny in the past. His tweets have not only led to legal consequences but also impacted Tesla&#8217;s stock performance. 
Cuban&#8217;s defense of Musk&#8217;s online conduct highlights the ongoing debate about the role and impact of social media in the corporate world, especially when used by high-profile executives. 
This incident underscores the potential legal and reputational risks associated with such behavior.
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Social Media

TSLA

Mark Cuban Embraces Elon Musk's Humor: 'I Have No Problem Throwing Elon Under The Bus, But I'll Save It For When It's Truly Deserved'

<a href="https://www.benzinga.com/topic/elon-musk" target="_blank" rel="noreferrer noopener">Elon Musk</a> reportedly intensified his political contributions in August, making his largest-known donation to bolster House Republicans&#8217; efforts <a href="https://www.benzinga.com/news/24/09/40958452/mark-cuban-says-elon-musk-believes-hes-much-smarter-than-trump-reveals-the-intoxicating-reason-why-t" target="_blank" rel="noreferrer noopener">to maintain a vulnerable majority</a>.
The National Republican Congressional Committee announced that it received $289,100 from Musk in August, <a target="_blank" href="https://www.politico.com/news/2024/09/20/elon-musk-political-donations-00180323" rel="noreferrer noopener">reported </a>Politico, citing a report filed with the Federal Election Commission.
Musk&#8217;s political stance has evolved significantly over the years.
In August, Musk explained his <a href="https://www.benzinga.com/news/24/08/40329702/elon-musk-who-once-queued-for-6-hours-to-shake-obamas-hand-explains-why-hes-now-supporting-trump-my" target="_blank" rel="noreferrer noopener">support for Donald Trump</a>, stating that his track record has been moderate and he has not been particularly political in the past. He revealed this during a conversation with Trump, touching on various topics from immigration to electric vehicles.
Musk, one of the world&#8217;s wealthiest individual with a net worth exceeding $250 billion, has previously donated to both Democrats and Republicans, though never in such substantial sums.
In September, Musk commented on a debate between Trump and Harris, expressing&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/09/40808912/elon-musk-says-kamala-harris-exceeded-most-peoples-expectations-but-debate-hosts-were-unfair-to-trum" rel="noreferrer noopener">dissatisfaction with the debate hosts</a> and raising concerns about the lack of discussion on the national debt crisis. He also mentioned that Harris exceeded most people&#8217;s expectations during the debate.
Also Read:<a target="_blank" href="https://www.benzinga.com/24/09/40935662/while-elon-musk-backs-trump-for-the-white-house-his-teams-at-tesla-x-and-spacex-are-supporting-kamal" rel="noreferrer noopener"> While Elon Musk Backs Trump For The White House, His Teams At Tesla, X And SpaceX Are Supporting Kamala Harris: Employees Have Reportedly Donated Over $90K To Vice President&#8217;s Campaign</a>
Musk has increased his political engagement lately, developing a connection with Trump by funding America PAC, a pro-Trump organization. This group, which recently experienced a leadership change, is set to significantly aid in voter mobilization efforts for Trump and has begun investing in competitive House races nationwide.
It remains uncertain how much Musk will ultimately invest in the election. In July, the Wall Street Journal <a href="https://www.wsj.com/politics/elections/elon-musk-has-said-he-is-committing-around-45-million-a-month-to-a-new-pro-trump-super-pac-dda53823" target="_blank" rel="noreferrer noopener">suggested</a> he intended to contribute about $45 million monthly to support Trump, though Musk later refuted this claim. Despite Musk&#8217;s significant donation, the NRCC raised only $9.7 million in August, while its Democratic counterpart collected $22.2 million.
Recently, Musk faced backlash for a&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/09/40890277/elon-musk-says-his-now-deleted-controversial-post-after-latest-trump-assassination-which-was-labeled" rel="noreferrer noopener">controversial post on X</a>, which he later deleted. The post questioned why no one was attempting to assassinate President Joe Biden&nbsp;or Harris, following an assassination attempt on Trump. The White House labeled the post as &#8220;irresponsible.&#8221;
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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<li><a href="https://www.benzinga.com/news/24/07/39872015/teslas-elon-musk-recently-pledged-a-huge-donation-to-donald-trump-and-the-ex-president-returned-the" target="_blank" rel="noreferrer noopener">Tesla&#8217;s Elon Musk Recently Pledged A Huge Donation To Donald Trump, And The Ex-President Returned The Favor By Criticizing EVs At The RNC</a></li>
</ul>

Media

General

Elon Musk Boosts House Republicans With Record $289,100 Donation

During a recent <a href="https://www.youtube.com/watch?v=9IitdaHy6Q8">episode</a> of his podcast with comedian Tom Segura, <a href="https://www.benzinga.com/topic/joe-rogan">Joe Rogan</a> weighed in on former President Donald Trump and his time in the Oval Office. Rogan, <a href="https://www.benzinga.com/personal-finance/24/09/40909092/joe-rogan-says-education-addiction-recovery-and-homelessness-should-be-funded-more-its-a-good-id">never shy about discussing politics</a>, offered his thoughts on Donald Trump's presidency and why many people remain divided over him.
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<li>General Motors and other leaders revealed to be<a href="https://www.benzinga.com/money/energyx"> investing in this revolutionary lithium start-up — allowing easy entry by launching at just $9.50/share with a $1,000 minimum.</a></li>
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In the conversation, Rogan acknowledged that Trump's time in office wasn't as extreme as some feared it would be: &#8220;Everyone&#8217;s saying he&#8217;s going to be a dictator. Well, he wasn&#8217;t a dictator. He was the president. He actually was the president for four years and the economy really did well and he really did try to cut some of the bullsh&#x2A;t down that&#8217;s going on in this country.&#8221;
However, Rogan also acknowledged what makes Trump such a hard pill to swallow for many. &#8220;The thing that freaks people out,&#8221; Rogan said, &#8220;is not his policies but who he is as a person.&#8221;&nbsp;
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According to Rogan, Trump's larger-than-life personality and off-the-cuff remarks are what unsettles people the most, especially when he's in such a powerful position. &#8220;We don't necessarily want that as the guy with his finger on the button,&#8221; Rogan added.
The topic then turned to how Trump&#8217;s <a href="https://www.benzinga.com/news/24/09/40870455/trump-vows-to-never-surrender-after-surviving-second-assassination-attempt">innate capacity for crowd entertainment – </a>which frequently involves humor and improvisation – adds to this division. Rogan acknowledged that Trump frequently &#8220;kills like a comedian&#8221; and that he can be &#8220;funny.&#8221; "He can go out there, have a crowd of people and just riff. He's funny, man," Rogan told Segura.&nbsp;
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For Rogan, though, that&#8217;s not the whole story. Trump may be able to make people laugh, but Rogan said that many people don&#8217;t want their president to be as entertaining as a stand-up comedian.
In the end, Rogan thinks that different people find Trump intriguing and unsettling because of his unpredictable nature. Although many people like <a href="https://www.benzinga.com/news/24/07/39761846/trump-left-bloodied-after-shots-fired-at-pennsylvania-rally-evacuated-by-secret-service">Trump&#8217;s boldness</a> and sense of humor, others are worried that someone with such a raw personality can have such a big say in how the nation is run.
Rogan also talked about Kamala Harris's debate performance, saying she did well and was &#8220;way better prepared even when it came to answering tough questions.&#8221; He gave credit to whoever was helping her with speeches and practice, saying they're doing an amazing job. "Whoever's writing those speeches getting her to delivery, coaching her – she&#8217;s nailing," Rogan said.
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Startups

Joe Rogan Says Trump 'Wasn't A Dictator And The Economy Really Did Well.' Still There's One Thing About Trump That 'Freaks People Out'

Florida Gov. <a href="https://www.benzinga.com/topic/ron-desantis">Ron DeSantis</a> (R) is not happy with his <a href="https://www.benzinga.com/markets/cannabis/24/09/40822693/gop-and-democratic-state-senators-back-floridas-cannabis-legalization-initiative-in-new-ad-as-ba">GOP colleagues</a>, whom he says are not doing enough to stop passage of Florida&#8217;s <a href="https://www.benzinga.com/topic/florida-cannabis">cannabis legalization ballot,</a> known as Amendment 3, which will be voted on at <a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d" target="_blank" rel="noreferrer noopener">the upcoming November elections</a>.
"You say you're all about these issues, and then when it's time to do something about it you're nowhere to be found," DeSantis <a href="https://www.yahoo.com/news/desantis-fumes-over-gop-lawmakers-132007609.html">told</a> a gathering in a Tallahassee church. "That is what courageous leadership is all about."
<h2 class="wp-block-heading">What's The Problem?</h2>
For starters, the proposed amendment was <a href="https://www.benzinga.com/markets/cannabis/24/09/40774795/trump-says-hell-reschedule-cannabis-if-elected-backs-marijuana-banking-reform-and-floridas-amend">recently endorsed</a> by former president <a href="https://www.benzinga.com/topic/donald-trump">Donald Trump</a> as well as Florida's <a href="https://www.benzinga.com/markets/cannabis/24/09/40879364/young-republicans-break-ranks-to-back-cannabis-legalization-is-the-gop-ready-for-a-shift-in-the-">Young Republicans</a>.
This cannabis stand-off between Trump and DeSantis seems to have many State Republicans keeping their weed views to themselves as they weigh their allegiances between the governor and former president amid a close national election and an even closer battle between the yeas and nays of legal cannabis. Although, the Florida Republican Party&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/05/38649648/ron-desantis-plan-to-scuttle-floridas-cannabis-legalization-initiative-with-his-vast-fundraising" target="_blank" rel="noreferrer noopener">voted unanimously</a>&nbsp;against the marijuana legalization amendment in May, the situation has drastically changed since then.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/40937911/desantis-backed-anti-cannabis-pacs-blew-through-116k-at-fundraiser-while-pro-pot-group-holds-90m">DeSantis-Backed Anti-Cannabis PACs &#8216;Blew Through&#8217; $116K At Fundraiser, While Pro-Pot Group Holds $90M War Chest</a>
<h2 class="wp-block-heading">How Deep Is The Split?</h2>
Former GOP state senator and legalization supporter Jeff Brandes <a href="https://www.politico.com/news/2024/09/19/trump-desantis-florida-marijuana-legalization-ballot-measure-00179847?is_magic_link=true&amp;template_id=OTJIR2CRKUD6&amp;template_variant_id=OTVPXN5JGTYRX">told</a> Politico that at least half of Florida Republican legislators agree with Trump, but they don't want a rift with DeSantis.
"This is just evidence that the legislature is completely impotent when it comes to taking this thing on and doing this legislatively," Brandes told the outlet. "They are unwilling to do the hard work because they don't want the smell of the devil's lettuce on them."
<h2 class="wp-block-heading">Desperate Move? DeSantis Calls Fraud Among Petition Gatherers</h2>
Meanwhile, supporters of the cannabis initiative and a proposed constitutional amendment enshrining abortion rights met the stringent requirements for gathering petition signatures in accordance with Florida law. However, DeSantis says they're not strict enough and is calling for more anti-fraud measures.
"There's a lot of money that's at stake here," DeSantis said this week,&nbsp;<a href="https://www.orlandoweekly.com/cannabis/florida-gov-desantis-defends-targeting-marijuana-petition-workers-37828705">reported</a> the Orlando Weekly. "People make money off the petition process. There&#8217;s an incentive to commit fraud. The Legislature tried to address it, but I don&#8217;t think that they&#8217;ve addressed it adequately."
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Photo: Courtesy of&nbsp;<a href="https://www.flickr.com/photos/cornstalker/" target="_blank" rel="noreferrer noopener">Matt Johnson</a>&nbsp;and&nbsp;<a href="https://www.flickr.com/photos/gageskidmore/" target="_blank" rel="noreferrer noopener">Gage Skidmore</a>&nbsp;on flickr

Cannabis

Government

Regulations

Legal

DeSantis Urges GOP To Oppose Cannabis Legalization As Party Splits Over Trump Marijuana Endorsement

Donald Trump has pledged to &#8220;rescue vaping&#8221; if he returns to the Oval Office, contradicting his previous stance that led to a partial<a href="https://www.benzinga.com/news/24/09/40866884/trump-vs-harris-tense-standoff-in-nail-biter-polls"> ban on some e-cigarette products.</a>
What Happened: On Friday, Trump criticized President Joe Biden and Vice President Kamala Harris in a <a href="https://truthsocial.com/@realDonaldTrump/posts/113171256073757122">post</a> on Truth Social, accusing them of wanting to &#8220;ban everything.&#8221; He also pointed out his past efforts to regulate e-cigarettes.
In 2019, Trump introduced restrictions on certain e-cigarette products, which he believes helped prevent children from vaping. 
&#8220;I saved Flavored Vaping in 2019, and it greatly helped people get off smoking. I raised the age to 21, keeping it away from the &#8216;kids.&#8217; Kamala and Joe want everything banned, killing small businesses all over the Country. I'll save Vaping again!&#8221; he said in the post.
Trump&#8217;s administration faced criticism in September 2019 when it proposed plans to ban all flavored vape products. However, Trump revised his position in January 2020, opting for a partial ban instead.
Also Read: <a href="https://www.benzinga.com/news/24/09/40869086/trump-vs-harris-new-poll-reveals-post-debate-swing-towards-this-candidate-in-key-state">Trump Vs Harris: New Poll Reveals Post-Debate Swing Towards This Candidate In Key State</a>
The partial ban restricted the sale of sweet and fruity flavored vape pods and cartridges, but allowed gas stations and convenience stores to continue selling menthol cartridges and vapes. 
It also permitted vape shops to sell a wide range of e-cigarette liquids in open-tank vaping systems, which are predominantly used by adults.
As California&#8217;s attorney general in 2015, Vice President Harris backed a bill aimed at preventing minors from accessing e-cigarettes.
Why It Matters: Trump&#8217;s recent pledge to &#8220;save vaping&#8221; comes amidst an ongoing debate about the health risks and benefits of e-cigarettes. His administration&#8217;s previous actions to regulate vaping were seen as a response to concerns about the rising use of e-cigarettes among young people. 
However, the partial ban was criticized for not going far enough to protect public health. 
Now, Trump&#8217;s promise to &#8220;rescue vaping&#8221; could signal a shift in his stance on e-cigarette regulation, potentially impacting the future of the vaping industry and public health policies.
Read Next
<a href="https://www.benzinga.com/news/24/08/40667209/trump-vs-harris-new-polls-reveal-this-candidate-is-outperforming-in-swing-states" target="_blank" rel="noreferrer noopener">Trump Vs Harris: New Polls Reveal This Candidate Is Outperforming In Swing States</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.

Trump Vows To 'Save Vaping Again' Despite Past Partial Ban. Here's How He Plans To Do It

One of the <a href="https://www.benzinga.com/news/23/06/32842246/with-363-8-billion-pounds-of-plastic-in-the-ocean-plastic-pollution-will-soon-outweigh-fish">biggest issues facing our oceans</a> is plastic waste. Damage to economies, industry, and the environment is estimated to cost the world $2.5 trillion annually.&nbsp;
But there's hope on the horizon. A nonprofit called The Ocean Cleanup, which you might have heard of before, says they're on track to eliminate the infamous Great Pacific Garbage Patch (GPGP) within the next decade.
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<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">What it will concretely take to clean up the Great Pacific Garbage Patch: <a href="https://t.co/z1O0easYxg">pic.twitter.com/z1O0easYxg</a>
&mdash; The Ocean Cleanup (@TheOceanCleanup) <a href="https://twitter.com/TheOceanCleanup/status/1832469990735540499?ref_src=twsrc%5Etfw">September 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The GPGP is an enormous area in the Pacific Ocean filled with plastic waste – an estimated 79,000 metric tons of it, to be exact. To put that into perspective, the patch is roughly twice the size of Texas. However, it's not a solid island of trash, but a huge environmental hazard, killing marine life, damaging ecosystems and harming human health.
Founded by then-18-year-old Boyan Slat in 2013, The Ocean Cleanup has been working on innovative ways to solve the problem of ocean plastic. Their goal is to clean up plastic from the ocean and stop more from getting there in the first place.&nbsp;
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They've created specialized floating systems that use ocean currents to collect plastic. Over the past three years, they've removed over one million pounds of trash from the GPGP – about 0.5% of the total.
However, they now think they can get rid of everything. The Ocean Cleanup recently declared that, given $7.5 billion in funding, they could clear the entire GPGP in 10 years. Furthermore, they believe that they might complete the project in five years at a reduced cost of $4 billion with increased assistance.
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Next year, the Ocean Cleanup will pause its operations briefly to map out "hot spots" – areas in the ocean with the most "intense plastic accumulation" – and make its future efforts even more efficient.
To raise funds, The Ocean Cleanup has also developed some creative ideas. They have turned the plastic they've collected into stylish, recyclable sunglasses that they sold for $199 each. According to the group, the proceeds from just one pair of sunglasses allowed them to clean an area the size of 24 football fields. In 2022, all the sunglasses sold out and they have reached the goal of funding the cleanup of 500,000 football fields worth of plastic.
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The <a href="https://www.benzinga.com/news/24/04/38430116/us-faces-mounting-plastic-waste-challenge-with-limited-recycling-solutions-after-chinas-2018-import">problem of plastic pollution</a> won&#8217;t go away by itself. It concerns the potential long-term harm that this material may create if action is not taken, as human health will be in danger, marine ecosystems will continue to deteriorate and the financial cost will only rise.&nbsp;
Boyan Slat summed it perfectly: "This environmental catastrophe has been allowed to exist, unresolved, for too long and for the first time, we can tell the world what it costs, what is needed and how long it could take. The only thing standing between us and clean oceans is money."
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Ocean Plastic Pollution Is A $2.5T Problem Every Year. Cleanup Group Says They're On Track To Erase The Great Pacific Garbage Patch

In a surprising jab at <a href="https://www.benzinga.com/topic/kamala-harris" target="_blank" rel="noreferrer noopener">Kamala Harris</a> during a town hall for Trump in Flint, Michigan, Arkansas Gov. Sarah Huckabee Sanders (R) asserted that Harris lacks the grounding influences that only biological children can provide.
Sanders recounted a moment when her own daughter innocently commented on her appearance, highlighting how her kids help keep her humble, <a href="https://www.politico.com/news/2024/09/18/sarah-huckabee-sanders-harris-children-00179800" target="_blank" rel="noreferrer noopener">reported</a> Politico.
&#8220;Unfortunately, Kamala Harris doesn&#8217;t have anything keeping her humble,&#8221; Sanders said.
The narrative reignited the &#8220;childless cat lady&#8221; narrative linked to <a href="https://www.benzinga.com/topic/donald-trump" target="_blank" rel="noreferrer noopener">Donald Trump</a><a href="https://www.benzinga.com/topic/donald-trump" target="_blank" rel="noreferrer noopener">&#8216;s</a> campaign, jabbing Harris for not having biological children.
In July, Republican vice-presidential nominee Sen. <a href="https://www.benzinga.com/general/politics/24/07/39873381/trump-vp-pick-j-d-vance-worth-watching-for-potential-google-breakup-market-strategist-says-not-a" target="_blank" rel="noreferrer noopener">JD Vance</a> clarified his 2021 remark about &#8220;childless cat ladies,&#8221; asserting that he was not targeting individuals without children but rather was criticizing Democrats <a href="https://www.benzinga.com/news/24/07/39997182/former-white-house-official-anthony-scaramucci-mocks-jd-vance-says-thank-you-for-knocking-me-out-of" target="_blank" rel="noreferrer noopener">for their &#8220;anti-family and anti-kid&#8221; policies.</a>
Also Read:<a target="_blank" href="https://www.benzinga.com/news/24/06/39425501/former-trump-press-secretary-sarah-huckabee-sanders-makes-a-bold-prediction-about-ex-president-hes-g" rel="noreferrer noopener"> Former Trump Press Secretary Sarah Huckabee Sanders Makes A Bold Prediction About Ex-President: &#8216;He&#8217;s Gonna Win, And Win Big&#8217;</a>
This clarification, given on Megyn Kelly&#8217;s SiriusXM&nbsp;<a target="_blank" href="https://www.siriusxm.com/blog/jd-vance-megyn-kelly-show?intcmp=AssetGroup:Any_NA_www:hosts:megyn-kelly_RepublicanVPPickJDVa" rel="noreferrer noopener">podcast</a>, followed the viral reappearance of a video where Vance questioned some Democrats, including Harris, for not having biological children, despite Harris having two stepchildren.
Harris is a stepmother to two children from her husband, Doug Emhoff, and his family, including his ex-wife, has praised her parenting role with his now-adult kids.
Meanwhile, regarding Sanders&#8217; latest comments, even Bryan Lanza, a senior adviser for Trump&#8217;s campaign, interpreted Sanders&#8217; comment in this context, joining fellow panelists on CNN to denounce the remark.
&#8220;I found that comment to be actually offensive. I don&#8217;t know what more to say about that,&#8221; Lanza said. &#8220;I&#8217;m disappointed in Sarah saying that.&#8221;
Earlier this year, Sanders caught media headlines for making a bold prediction about the upcoming 2024 presidential election, foreseeing a significant victory for Trump.
Sanders stated that Trump has maintained his front-runner status since the beginning of his campaign and is likely to secure a substantial victory in November.
&#8220;I fully expect that he&#8217;s&#8217; gonna win, and win big in November,&#8221; Sanders&nbsp;said, The Hill <a href="https://thehill.com/homenews/campaign/4732498-sarah-huckabee-sanders-predicts-trump-will-win-big/" target="_blank" rel="noreferrer noopener">reported</a> in June quoting her <a href="https://www.foxnews.com/video/6355366488112" target="_blank" rel="noreferrer noopener">in an appearance</a>&nbsp;on Fox News's "America's Newsroom."
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Trump Ally Sarah Huckabee Sanders Jabs Kamala Harris For Not Having Biological Children: "Doesn't Have Anything Keeping Her Humble!"

With just over six weeks left until the presidential election, recent polling data reveals a neck-and-neck contest between Kamala Harris and Donald Trump. The data includes over 20 <a href="https://www.benzinga.com/news/24/09/40669286/harris-vs-trump-this-candidate-leading-in-numerous-polls-transforming-political-landscape">swing-state polls conducted after the September 10 debate</a>.
What Happened: The polls suggest a slight advantage for Harris over Trump. A Morning Consult poll shows Harris leading by 6 percentage points nationwide, her largest lead in the organization&#8217;s surveys to date.
Nationwide ABC News/Ipsos and Yahoo News/YouGov polls also favor Harris, placing her ahead by 4 and 5 points respectively.
According to a compilation of recent polls <a href="https://thehill.com/homenews/campaign/4889632-latest-polls-white-house-race/amp/">by</a> The Hill, in some swing states, Harris also appears to be gaining ground. A Quinnipiac University poll has her leading by 5 points in Pennsylvania, while a Marist College poll of likely voters shows the same margin in Michigan.
However, the race is far from decided. The Hill and Decision Desk HQ (DDHQ) predict Harris has a 55 percent chance of winning in November. 
Also Read: <a href="https://www.benzinga.com/news/24/09/40869086/trump-vs-harris-new-poll-reveals-post-debate-swing-towards-this-candidate-in-key-state">Trump Vs Harris: New Poll Reveals Post-Debate Swing Towards This Candidate In Key State</a>
Trump supporters, meanwhile, can take heart from several swing-state polls, including a series from The Hill and Emerson College, which show Trump leading by 1 point in Pennsylvania and Wisconsin, and by 3 points in Georgia.
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Why It Matters: The tight race underscores the importance of swing states in determining the outcome of the presidential election.
Despite Harris&#8217; slight lead in some areas, the 2024 race remains essentially a coin flip.
The outcomes of upcoming debates and campaign strategies will be crucial in swaying undecided voters and solidifying support among their bases.
Read Next
<a href="https://www.benzinga.com/news/24/08/40667209/trump-vs-harris-new-polls-reveal-this-candidate-is-outperforming-in-swing-states" target="_blank" rel="noreferrer noopener">Trump Vs Harris: New Polls Reveal This Candidate Is Outperforming In Swing States</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.

Trump Vs Harris: This Candidate Has The Edge In Latest Swing State Polls

The team behind <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40924380/mark-cuban-slams-trumps-crypto-plans-while-jon-stewart-calls-him-the-lefts-favorite-billio">Donald Trump</a>'s latest crypto venture, World Liberty Financial, took over two hours to release the key detail many were waiting for at Monday night's event on X.&nbsp;
The suspense finally ended when they revealed who could buy the forthcoming tokens and how shares would be distributed. Billed as the next big step for the former president and his family, this launch had built up anticipation for weeks.
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Zak Folkman, one of the project's founders, explained that the platform&#8217;s WLFI token will be divided among several groups. "Twenty percent of the tokens are set aside for the founding team," he said, referring to a group that includes the Trumps.&nbsp;
Another 17% will go toward user rewards, while the remaining 63% of tokens will be publicly available. He emphasized, "There will be no presales or early buy-ins."
Trending: According to Cathie Wood, holding 6 Ethereum (ETH) could make you a millionaire,<a href="https://www.benzinga.com/money/adv-6eth"> here&#8217;s why it can be true</a>.
This was a crucial clarification, as an earlier draft of the project's outline, which had been leaked, raised eyebrows. The draft indicated that the founders would control 70% of the tokens, leading many to worry that it might just be another quick-cash scheme.
The structure of the offering, a Regulation D token offering, allows World Liberty Financial to raise funds without registering with the Securities and Exchange Commission (SEC), as long as they meet certain criteria. This led to a conversation about how the SEC, under its chair Gary Gensler, has been regulating the crypto industry, often using enforcement actions instead of clear guidelines.
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Trump himself was part of the action, speaking openly about his initial lack of interest in crypto. "I wasn't overly interested," Trump said, adding that his perspective changed when his children introduced him to crypto through the success of his non-fungible token collections. &#8220;I think my children opened my eyes more than anything else,&#8221; he remarked.
The event took place against an unusual backdrop for Trump. Just the day before, there was an alleged assassination attempt while Trump was golfing with Steve Witkoff, his longtime friend and a key figure in World Liberty Financial.&nbsp;
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The incident took place at Trump's West Palm Beach golf club and the FBI has been investigating. Despite the dramatic incident, Witkoff joined Trump for Monday's event, where he spoke about how the venture began.&nbsp;
Witkoff recounted how his son had introduced him to two young crypto entrepreneurs, Chase Herro and Zak Folkman, who convinced him that decentralized finance (DeFi) could be the future of money.&nbsp;
"These guys are as sharp as any currency traders I've ever met," Witkoff said. He then described how he brought the Trump family into the fold. "We had a meeting with Eric, Don Jr., the president and his counsel. We've been on it for close to nine months," he revealed.
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The similarities between World Liberty Financial and Trump's previous project, Trump Media &amp; Technology Group, didn't go unnoticed. Like the media company that launched the conservative social platform Truth Social, this crypto venture is expected to turn heads.
However, despite the Trump family's involvement, they do not own or manage the platform. Eric Trump and Steve Witkoff are the two figures at the helm and both are new to the crypto space. Though Trump has been warming to <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40734266/trump-promised-to-turn-the-u-s-into-the-crypto-capital-of-the-world-but-did-he-actually-fo">crypto </a>in recent months, even delivering a keynote at the largest bitcoin event in July, the public remains curious – and cautious – about this new project.
The founders were tight-lipped about plans, offering little clarity on timelines. The only clue provided was that updates would come through official channels and they warned fans to be wary of scammers eager to take advantage of the buzz surrounding the project.
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Trump Family's Crypto Venture Revealed: New Buying Rules, Who Can Invest and What It Means for Early Adopters

Recent developments suggest that Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) may be <a href="https://www.benzinga.com/markets/equities/24/07/39568237/tech-giants-eye-nuclear-power-to-fuel-ai-boom-raising-concerns-over-stability-and-environmental-" target="_blank" rel="noreferrer noopener">ramping up its interest in nuclear energy</a> to fuel its growing needs.
The tech giant has reposted a job <a target="_blank" href="https://www.linkedin.com/jobs/view/principal-nuclear-engineer-datacenter-engineering-power-generation-solutions-at-amazon-web-services-aws-4007936223" rel="noreferrer noopener">opening</a> for a Principal Nuclear Engineer in its Data Center Engineering division, raising questions about its long-term energy strategy.
Nano Nuclear Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNE#NASDAQ">NNE</a>), an emerging microreactor technology company, cited the opening in a social media <a href="https://x.com/nano_nuclear/status/1827024271731802146" target="_blank" rel="noreferrer noopener">post</a> on X, formerly Twitter.
Why This Is Important: The opening by Amazon comes shortly after Talen Energy agreed to sell a 960-megawatt data center campus to Amazon Web Services (AWS) for $650 million earlier this year, which includes a decade-long electricity supply agreement from the Susquehanna nuclear power station.
This particularly highlights Amazon&#8217;s commitment to clean, carbon-free energy sources.
An Amazon spokesperson <a href="https://www.ans.org/news/article-5842/amazon-buys-nuclearpowered-data-center-from-talen/" target="_blank" rel="noreferrer noopener">told the</a> American Nuclear Society, &#8220;To supplement our wind and solar energy projects, which depend on weather conditions to generate energy, we&#8217;re also exploring new innovations and technologies and investing in other sources of clean, carbon-free energy. This agreement with Talen Energy for carbon-free energy is one project in that effort.&#8221;
Also Read: <a href="https://www.benzinga.com/government/24/03/37627399/amazons-shot-at-nuclear-power-play-will-the-tech-giants-latest-move-redefine-green-energy-for-data-c" target="_blank" rel="noreferrer noopener">Amazon&#8217;s Shot At Nuclear Power Play &#8211; Will The Tech Giant&#8217;s Latest Move Redefine Green Energy for Data Centers?</a>
In a report <a href="https://www.aboutamazon.com/news/sustainability/amazon-renewable-energy-updates" target="_blank" rel="noreferrer noopener">released</a> on July 10, Amazon announced that it has achieved its goal of sourcing 100% of the electricity used across its global operations — including data centers, corporate offices, grocery stores, and fulfillment centers — from renewable energy, a target initially set for 2030. The company plans to continue investing in solar and wind projects while exploring nuclear power and battery storage to sustain its energy needs.
Why The Nuclear-Energy Interest May Be Controversial
Amazon&#8217;s nuclear ambitions are not without controversy.
Following the agreement with Talen Energy, utility companies American Electric Power Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEP#NASDAQ">AEP</a>) and Exelon Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXC#NASDAQ">EXC</a>) formally objected to the Federal Energy Regulatory Commission (FERC), claiming that the electricity arrangement allows Amazon to benefit from the power grid without contributing to its maintenance costs, a <a href="https://www.ans.org/news/article-6180/aep-exelon-ask-ferc-to-scrutinize-amazontalen-data-center-deal/">report </a>by the American Nuclear Society suggests.
They argue this could lead to increased expenses for other PJM ratepayers, as the data center&#8217;s power usage is indirectly linked to the grid&#8217;s resources. PJM ratepayers are&nbsp;customers of the Pennsylvania-New Jersey-Maryland Interconnection (PJM).&nbsp;
That&#8217;s not all!
A March <a href="https://heatmap.news/technology/amazon-nuclear-talen-energy">report</a> by Heat Map suggests that a divide has emerged among tech giants regarding energy strategies, with Amazon focusing on securing low-cost power without prioritizing new carbon-free sources, while 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>) and Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) aim for comprehensive carbon-free energy solutions.
Microsoft and Google have shown increased interest in nuclear power to ensure a stable electricity supply, reflecting a broader commitment to sustainable energy practices.
As Amazon moves forward with its nuclear initiatives, the intersection of innovation and regulatory scrutiny will play a crucial role in shaping its energy strategy.
The company&#8217;s hiring of nuclear engineers underscores its serious intentions in this space, but the implications of these decisions could significantly affect its relationships within the energy sector.
Will Amazon&#8217;s foray into nuclear power pave the way for a more sustainable future, or complicate its standing in an already complex energy landscape?
According to&nbsp;<a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>, AMZN stock has gained over 48% in the past year. Investors can gain exposure to the stock via ProShares Online Retail ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONLN#NYSE">ONLN</a>) and&nbsp;Fidelity MSCI Consumer Discretionary Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDIS#NYSE">FDIS</a>).
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Amazon Going Nuclear? Hiring Plans Indicate Company May Be Eyeing Nuclear To Meet Energy Needs

<a href="https://www.benzinga.com/money/insurance/health-insurance">Health insurance</a> is supposed to help us manage the cost of medical care, but for many people, it feels like a battle just to get claims approved. Billionaire entrepreneur <a href="https://www.benzinga.com/topic/mark-cuban">Mark Cuban</a> says there's a reason for this – and he believes more transparency could be the solution to high health care costs in the U.S.
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According to Cuban, big insurance companies make it unnecessarily difficult for doctors and hospitals to get paid by adding layers of paperwork and approvals, turning every claim into a drawn-out process. This frustrates health care providers and patients who just want their bills covered without hassle.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">No population wide insurance will work in a market where there is no transparency. The games the big insurers play have nothing to do with insurance or wellness. They make approving and paying every claim a battle for providers and sponsors. There is reason providers charge… <a href="https://t.co/biRgvuC5W1">https://t.co/biRgvuC5W1</a>
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1835725915470643670?ref_src=twsrc%5Etfw">September 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Trending: Founder of Personal Capital and ex-CEO of PayPal<a href="https://www.benzinga.com/money/evergreen-money"> re-engineers traditional banking with this new high-yield account — start saving better today.</a>
Cuban's remarks came in response to a tweet by Larry Levitt, an expert on health policy, who highlighted a comment made by <a href="https://www.benzinga.com/topic/j-d-vance">Sen. JD Vance</a>. Vance had criticized the Affordable Care Act (ACA) for &#8220;a one-size-fits-all approach that puts a lot of people into the same insurance pools, into the same risk pools that actually makes it harder for people to make the right choices for their families.&#8221;
Levitt explained that this single-risk pool allows the ACA to protect people with preexisting conditions from paying higher premiums. Cuban then broadened the discussion to the overall lack of transparency in health care pricing and how it impacts costs.
<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">JD Vance makes a wonky but important point here, saying we shouldn&#39;t have a health insurance system that puts people &quot;into the same risk pools.&quot; A single risk pool under the ACA enables community rating, meaning people with pre-existing conditions don&#39;t pay higher premiums. <a href="https://t.co/5oLuUAmNpG">https://t.co/5oLuUAmNpG</a>
&mdash; Larry Levitt (@larry_levitt) <a href="https://twitter.com/larry_levitt/status/1835684651035398408?ref_src=twsrc%5Etfw">September 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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>
Why Transparency Matters
Although it&#8217;s not a novel concept, <a href="https://www.benzinga.com/money/affordable-health-insurance">transparency in health care pricing</a> is still not commonly implemented. Like other goods and services, customers could compare costs if they knew how much an operation or doctor&#8217;s visit would cost before receiving the bill.
The entire industry would change if Cuban&#8217;s goal of complete transparency came to fruition. Providers would have to justify their often incredibly steep rates if consumers could see exactly what insurers are paying, resulting in increased competition, lower prices, and a much simpler health care system.
Trending: A billion-dollar investment strategy with minimums as low as $10 —<a href="https://www.benzinga.com/money/fundrise-flagship-fund"> you can become part of the next big real estate boom today.</a>
It's unclear if Cuban's call for transparency will gain traction, but it's a conversation worth having. If more people start demanding to see the true cost of their health care, it could push insurers and providers to rethink how they do business. The battle over every claim continues for now, but perhaps a more transparent future is on the horizon.
As Cuban said, "Require every contract to be published and the market becomes efficient, and care costs drop significantly."
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Insurance Companies Turn Every Claim Into A Fight. Here's How Mark Cuban Thinks Transparency Could Lower Prices In A $1.6T Industry

Editor&#8217;s Note: Additional material has been added to this article for context and clarity.
Billionaire entrepreneur Mark Cuban <a href="https://www.benzinga.com/general/entertainment/24/09/40930343/slide-over-mark-cuban-theres-a-new-shark-in-the-pool-could-this-billionaire-be-his-replacem">will soon step away</a> from "Shark Tank" and sold a portion of NBA team the Dallas Mavericks, but that doesn't mean he's ready to enter politics.
While many are familiar with Cuban supporting Vice President Kamala Harris <a href="https://www.benzinga.com/general/politics/24/08/40105641/mark-cuban-reid-hoffman-vinod-khosla-and-nearly-500-venture-capitalists-back-kamala-harris-in-20">for the 2024 election</a>, Cuban isn't ready to enter the presidential race anytime soon.
What Happened: In an interview with Bloomberg Originals in March 2024, Cuban set the record straight on speculation about a potential presidential run.
Cuban clarified that running for president is not on his current agenda.
&#8220;No, not preparing to run,&#8221; he <a href="https://www.youtube.com/watch?v=fuHYZ0P5JCk">said </a>definitively.
Cuban said that the greatest challenge of being president is that &#8220;you don&#8217;t know what comes next.&#8221; 
&#8220;There&#8217;s no way any one person can have all the wisdom or knowledge that they need to deal with the uncertainty of the office,&#8221; he added.
Cuban priority remains his family.
&#8220;When I&#8217;m 95 and looking back, I&#8217;d rather just say, okay, I was there&#8230; for Jake&#8217;s games&#8230; I was there to help Lex in college. I don&#8217;t want to lose that.&#8221;
Cuban talked about his role as a father, acknowledging that earlier in his career, he didn't dedicate enough time to his family.
&#8220;I don&#8217;t think I was as good at it, as I should have been when they were younger. And now I want to be great at it.&#8221;
While he said he had no immediate political ambitions, he left a small possibility open for the future, saying, &#8220;You never say never,&#8221; though he acknowledged that by the time it would make sense for him, &#8220;I&#8217;ll be too old.&#8221;
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Remaining Involved in Politics: Despite ruling out a run for the White House, Cuban keeps a close eye on the political system.
He strongly criticized the current two-party structure. &#8220;The idea that, you know, parties vote unilaterally&#8230; that&#8217;s just insane,&#8221; Cuban said, adding that he supports ranked-choice voting to counterbalance the extremes in the primary system.
&#8220;If I could wave the magic wand, I&#8217;d get rid of the two parties,&#8221; he added.
When asked about his outlook on the future, Cuban was optimistic about the younger generation, particularly Gen Z.
&#8220;I see what&#8217;s going on with Gen Z, and I love it,&#8221; he said, applauding their entrepreneurial mindset
When it comes to the government, Cuban is a bit less optimistic, &#8220;It just depends on what happens these next four years. The jury&#8217;s still out.&#8221;
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Photo: Jaguar PS/Shutterstock.com

Mark Cuban Wants To 'Get Rid Of The Two Parties,' Says 'Never Say Never' To A Future In Politics, But Acknowledges He'll Probably Be 'Too Old' By The Time He's Ready (UPDATED)

In a significant leadership reshuffle, TikTok&#8216;s head of global marketing Kate Jhaveri is exiting the company, <a href="https://www.benzinga.com/news/23/03/31504452/despite-the-controversy-surrounding-tiktok-young-americans-love-chinese-apps-heres-why">as per an internal memo</a>.
What Happened: TikTok is discontinuing Jhaveri&#8217;s role. Starting Monday, all members of TikTok&#8217;s global brand and communications division will report directly to Zenia Mucha.
In the memo, as reported <a href="https://www.businessinsider.com/tiktok-marketing-head-is-out-in-leadership-shake-up-2024-9">by</a> Business Insider, Mucha revealed that she and Jhaveri had been in talks about restructuring the marketing function to establish a more unified organization. The decision was reached to dissolve the head of global marketing position and consolidate the Global Brand &amp; Comms team under a single leader.
&#8220;Kate Jhaveri and I have had ongoing discussions about our marketing strategy and how best to structure the marketing function to create a more cohesive organization designed to better meet the needs of the business and our cross-functional partners. Together, we decided the best way to achieve this vision is to remove the head of global marketing role, and bring everyone within Global Brand &amp; Comms under one leader,&#8221; according to the outlet Mucha wrote to the employeers. 
Also Read: <a href="https://www.benzinga.com/news/24/09/40866761/is-amazon-eyeing-tiktok-for-a-possible-acquisition">Is Amazon Eyeing TikTok For A Possible Acquisition?</a>
Before this, Mucha had a 19-year tenure as Disney&#8217;s chief communications officer, while Jhaveri had served as chief marketing officer at the NBA and Twitch. Zuber Mohammed, who is under Mucha, will now be in charge of consumer marketing, product marketing, and user communications.
The alterations, initially reported by The Information, will be effective from Monday. This reshuffle follows numerous significant organizational changes at TikTok, including layoffs and the departure of its former vice president of global communications, Hilary McQuaide.
Why It Matters: The brand and communications team is currently engaged in a legal battle with the U.S. government over a divest-or-ban law enacted in April, arguing that it infringes on the First Amendment rights of 170 million Americans.
This leadership shake-up could potentially impact the direction and outcome of this ongoing dispute.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

TikTok Global Marketing Chief Resigns Amid Major Overhaul – Here's What The Leaked Memo Says

Electric vehicle stocks finished the week ended Sept. 20 on a mixed note despite the <a href="https://www.benzinga.com/news/earnings/24/09/40954521/wall-street-looks-to-pause-after-s-ps-record-performance-as-fed-rate-cut-euphoria-fades-and-hard-la">positive performance by the broader market</a>. Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rose to its highest level since late July amid some positive catalysts.
Here&#8217;s a rundown on what happened in the EV space during the week:
Tesla China, Europe Sales: China weekly vehicle insurance data from China showed 15,600 insured registrations for Tesla vehicles in the week of Sept 9-15, CnEVPost <a href="https://cnevpost.com/2024/09/19/china-ev-insurance-registrations-week-ending-sept-15-2024/">reported</a>, citing data from Li Auto, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>). Commenting on the data, fund manager Gary Black said after 11 weeks into the quarter, with only two weeks left, Tesla&#8217;s China third-quarter registrations are on track for their best quarter ever. Quarter-to-date period, the number was up 20% year-over-year and 26% higher than in the first quarter, he added.
On the flipside, data released by European Automobile Manufacturers Association&nbsp;showed that Tesla volumes in Europe dropped 36% year-over-year to 21,701 vehicles in August. &#8220;The electric car market is now on a continual downward trajectory,&#8221; the ACEA said in a statement.
Rivian Launches Tri-Motor RT1 EVS: EV startup Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) has begun shipping new R1S and R1T vehicles with triple-motor powertrains. The 2025 model R1T and R1S EVs launched earlier this year rolled out with dual motors. The new Max battery pack is placed between the front and rear motors, and the tri-motor version has a range of 405 miles in conserve mode or 371 miles for all-purpose driving. This version has a starting price of $99,900.
See Also: <a href="https://www.benzinga.com/money/best-electric-vehicle-stocks">Best EV Stocks</a>
Nio Launches Onvo L60: Chinese EV maker Nio, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) on Wednesday officially launched the L60, the first model of the Onvo mass-market brand, in Hefei, Anhui province. The Onvo L60, a mid-size SUV <a href="https://www.benzinga.com/markets/equities/24/06/39511884/nios-upcoming-onvo-l60-reportedly-shows-striking-similarities-to-tesla-models-in-spy-shots">pitched as a Model Y rival, </a>has a starting price of 206,900 yuan (around $29,300) including the battery pack. If the EV is purchased with Nio&#8217;s battery-as-a-service, the price would be as cheap as 149,900 yuan. Deliveries are set to begin Sept. 28.
Faraday Future Announces Second Brand: Struggling upstart Faraday Future Intelligent Electric Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIE#NASDAQ">FFIE</a>) announced a second brand, namely Faraday X and the first vehicles of the brand, dubbed FX5, with an estimated price range of 20,000-$30,000, and FX 6, with an expected price range of $30,000-$50,000, will likely come with range-extended AIEV and battery-electric AIEV. The company plans to start production by the end of 2025, subject to securing necessary funding.
Hyzon Starts Class 8 200kW Hydrogen Truck Production: Hyzon Motors, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYZN#NASDAQ">HYZN</a>) announced the start of production of its Class 8 200 kilowatt fuel-cell electric truck. It &#8220;marks the beginning of a new chapter for &#8216;hard-to-decarbonize&#8217; heavy-duty industries, as Hyzon sets the standard for high-performance, zero-emission alternatives to diesel,&#8221; said Hyzon Chief Executive Officer Parker Meeks. The Class 8 200kW FCET features a single stack 200kW fuel cell system, which is 30% lighter and smaller, and 25% more cost-efficient than using two 110kW systems combined, the company said.
The KraneShares Electric Vehicles and Future Mobility&nbsp;Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KARS#NYSE">KARS</a>) fell 1.58% on Friday before ending at $19.32, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>. For the week, the ETF , however, slipped 0.31%.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
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Here&#8217;s how the EV stocks fared this week:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>Weekly Change (+/-)</td>
</tr>
<tr>
<td>Tesla</td>
<td>+3.46%</td>
</tr>
<tr>
<td>Nio</td>
<td>-4.87%</td>
</tr>
<tr>
<td>XPeng, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>)</td>
<td>+7.02%</td>
</tr>
<tr>
<td>Li Auto, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>)</td>
<td>+12.66%</td>
</tr>
<tr>
<td>Workhorse, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKHS#NASDAQ">WKHS</a>)</td>
<td>+7.59%</td>
</tr>
<tr>
<td>Hyzon Motors</td>
<td>+1.33%</td>
</tr>
<tr>
<td>Canoo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOEV#NASDAQ">GOEV</a>)</td>
<td>-19.20%</td>
</tr>
<tr>
<td>Rivian </td>
<td>-13.26%</td>
</tr>
<tr>
<td>Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>)</td>
<td>-11.42%</td>
</tr>
<tr>
<td>Faraday Future </td>
<td>-15.54%</td>
</tr>
<tr>
<td>Nikola Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKLA#NASDAQ">NKLA</a>)</td>
<td>-6.85%</td>
</tr>
<tr>
<td>VinFast Auto Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFS#NASDAQ">VFS</a>)</td>
<td>-7.58%</td>
</tr>
</tbody>
</table>
</figure>

FFIE

GOEV

HYZN

KARS

LCID

NKLA

RIVN

WKHS

XPEV

Tesla A Tale Of 2 Regions, Rivian Unleashes More Powerful R1 Variants, Nio Aims Sales Surge With Low-End Model And More: Biggest EV Stories Of The Week

Trying to find&nbsp;love&nbsp;in an increasingly digital&nbsp;world has led many to&nbsp;experiment&nbsp;with&nbsp;online dating, but endless scrolling of profiles and pictures can leave some feeling&nbsp;hopeless.
One woman decided to post an ad on Craigslist offering to pay someone to pretend to be&nbsp;her and set up dates. An editor&nbsp;looking for a second income stream decided to take on the&nbsp;<a href="https://www.benzinga.com/topic/dating-apps">matchmaking challenge</a>.&nbsp;
What To Know:&nbsp;In 2019,&nbsp;Gili Malinsky&nbsp;was making $58,000 per year working as an editor for a media company in New York. She had several thousand dollars in student loan debt and was up against a large tax bill, so she started looking for a&nbsp;<a href="https://www.benzinga.com/money/how-to-make-passive-income">second source of income</a>.&nbsp;
It wasn&#8217;t long before&nbsp;she stumbled upon a Craigslist ad, unlike anything she had ever seen before.
It said, &#8220;Help me find love online,&#8221;&nbsp;Mailnsky recalled in a<a href="https://www.cnbc.com/2023/04/28/strange-side-hustle-i-helped-someone-match-on-bumble-okcupid.html">&nbsp;piece</a>&nbsp;she wrote for CNBC&#8217;s Make It.&nbsp;
&#8220;I will give you access to my accounts. You will facilitate some dates with guys who have all their teeth, a job and some other criteria I'll tell you about later,&#8221; the description of the ad&nbsp;read.&nbsp;
Check This Out: <a href="https://www.benzinga.com/news/23/04/31868430/from-lineman-to-laundromat-millionaire-how-craigslist-and-clothes-cleaning-changed-this-mans-life">From Lineman To &#8216;Laundromat Millionaire&#8217;: How Craigslist And Clothes Cleaning Changed This Man&#8217;s Life</a>
The woman was offering $25 per hour or a flat rate per date if that was preferred, and that was enough for Malinsky to respond to the ad.
&#8220;I couldn't believe it. This gig actually sounded fun,&#8221; she said.&nbsp;
They set up a Skype call and then met up for drinks to talk details the following day. Malinksy planned to search&nbsp;for quality date candidates on&nbsp;<a href="https://www.benzinga.com/topic/dating-apps">apps</a>&nbsp;like&nbsp;Bumble Inc&nbsp;(NASDAQ:&nbsp;<a href="https://www.benzinga.com/stock/bmbl#NASDAQ">BMBL</a>) and&nbsp;IAC Inc&#8217;s&nbsp;(NASDAQ:&nbsp;<a href="https://www.benzinga.com/stock/iac#NASDAQ">IAC</a>)&nbsp;<a href="https://www.benzinga.com/money/best-dating-sites-and-apps">OkCupid</a>, chat with the guys and hope to set up dates.&nbsp;
She was offered an&nbsp;upfront payment of $100, and they agreed that she would be paid $150 for each date she successfully planned.&nbsp;
Everything went wrong from there, for Malinsky anyway. She spent at least 20 hours chatting with dozens of guys over the next three weeks and found it &#8220;bizarre&#8221; to pose as someone else.&nbsp;
The woman who posted the ad ended up being very picky — so selective that she didn&#8217;t actually agree to go on any dates. Malinksy would filter through guys to find good options, but the woman she was pretending to be would find something wrong with all of them. 
In the end, Malinksy never saw another dime beyond the initial $100 she was paid to <a href="https://www.benzinga.com/news/23/03/31445243/4-brain-hacks-to-supercharge-your-success">start her search efforts</a>.
She did reach back out to the woman who posted the ad to see how she was doing after some time had passed and it turned out that she had&nbsp;reconnected with one of her old matches on&nbsp;Match Group&nbsp;Inc&#8217;s&nbsp;(NASDAQ:&nbsp;<a href="https://www.benzinga.com/stock/mtch#NASDAQ">MTCH</a>) Tinder.&nbsp;
&#8220;Dreams DO come true,&#8221; she told Malinksy.&nbsp;
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/23/04/32100082/heres-how-this-31-year-old-makes-105-000-a-month-by-only-working-2-hours-a-day">Here&#8217;s How This 31-Year-Old Makes $105,000 A Month By Only Working 2 Hours A Day</a></li>
</ul>
Photo: <a href="https://pixabay.com/users/athree23-6195572/?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=3698156">Adrian</a> from Pixabay.
Some elements of this story were previously reported by Benzinga and it has been updated.

BMBL

MTCH

Matchmaking For Hire: The Online Dating Side Hustle That Went Nowhere — 'I Couldn't Believe It'

This week, federal prosecutors announced the arrest of two individuals accused of stealing $230 million in cryptocurrency. The stolen funds were allegedly used to finance a lavish lifestyle.
What Happened: Malone Lam, 20, and Jeandiel Serrano, 21, are believed to have stolen the cryptocurrency from a person in Washington, D.C., in August.
According to the U.S. Attorney's Office for the District of Columbia, the stolen funds were laundered through various exchanges and mixing services, <a href="https://www.nytimes.com/2024/09/20/us/crypto-fraud-arrests.html">reports</a> The New York Times. 
The suspects reportedly concealed their theft by distributing the money across several cryptocurrency exchanges and mixing services, before embarking on a spending spree. 
Lam, a Singaporean citizen who used aliases including "Anne Hathaway," and Serrano, known as "VersaceGod,&#8221; were apprehended by the F.B.I. on Wednesday.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36525844/north-korean-hackers-swiped-600-million-worth-of-crypto-in-2023-expected-to-carry-out-more">North Korean Hackers Swiped $600 Million Worth Of Crypto In 2023, Expected To Carry Out More Attacks</a>
An indictment was unsealed last week charging Lam and Serrano with conspiracy to commit wire fraud and money laundering. The indictment did not disclose how the two men gained access to the victim&#8217;s funds, only stating that they had &#8220;engaged in digital communications&#8221; with the victim, reports the outlet.
Lam&#8217;s lawyer Diego Weiner declared his intention to "vigorously defend" his client and requested that Lam be "presumed innocent" until proven guilty. Serrano's lawyer could not be immediately reached for comment.
The U.S. attorney's office has not yet responded to requests for more details regarding the case. The investigation is ongoing.
Why It Matters: This case underscores the growing concern over the security of digital assets. As cryptocurrency becomes more mainstream, it has also become a target for cybercriminals. 
This incident serves as a stark reminder of the risks associated with cryptocurrency transactions and the need for enhanced security measures in the digital currency space.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/23/04/32100171/bitcoin-thief-who-stole-nearly-5-million-and-was-photographed-in-cash-filled-bathtub-gets-" target="_blank" rel="noreferrer noopener">Bitcoin Thief Who Stole Nearly $5 Million And Was Photographed In Cash-Filled Bathtub Gets 4 Years In Prison</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.

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

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