ETRACS Alerian MLP Infrastructure Index ETN Series B due April 2, 2040 Stock (ARCA: MLPB)

ETRACS Alerian MLP Infrastructure Index ETN Series B due April 2, 2040 (ARCA:MLPB) Stock, Quote.Headers.trade-ideas

ETRACS Alerian MLP Infrastructure Index ETN Series B due April 2, 2040

Daniel Ho, Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) former head of vehicle programs and new product introduction, has joined Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Waymo as program director.
What Happened: Ho made the announcement on LinkedIn. He reported directly to CEO Elon Musk in his role as a senior executive at Tesla.
&#8220;During my tenure we delivered and ramped Model Y and Cybertruck, launched new factories in Berlin and Texas and grew overall production volume from 0.5M to 1.85M cars per year while establishing foundational work on the future Robotaxi program,&#8221; Ho wrote about his role at Tesla on LinkedIn. 
Prior to being director, Ho was program manager for Model 3, Model 3, and Model Y. All in all, he spent over 10 years in the company, starting in November 2013.
In April, The Information reported that Ho <a href="https://www.benzinga.com/news/24/04/38516190/elon-musk-cracks-whip-harder-2-more-senior-tesla-execs-reportedly-exit-as-ceo-demands-absolutely-har">would leave the company</a> on the heels of a mass layoff and all employees under him would either be dismissed or reassigned. 
Why It Matters: Tesla has seen a lot of its employees leave or move to rival players this year, particularly after the company decided to <a href="https://www.benzinga.com/news/24/04/38244436/breaking-tesla-said-to-be-laying-off-over-14-000-employees">lay off 10% of its workforce in April</a>.
On Monday, Tesla&#8217;s former Engineering Technician for its Semi vehicles Jonathan Galvez announced on LinkedIn that he started a new position as an Engineering Technician at Zoox after leaving the EV giant in June.
<a href="https://www.benzinga.com/news/24/05/38846223/elon-musk-fired-supercharger-chief-rebecca-tinucci-and-her-entire-team-after-she-refused-to-lay-off">Tesla&#8217;s former head of supercharging Rebecca Tinucci</a> joined Uber Technologies as <a href="https://www.benzinga.com/markets/equities/24/08/40470342/uber-hires-tesla-veteran-who-was-previously-laid-off-by-elon-musk-report">its Global head of sustainability</a> last month.
Bloomberg reported last week that Tesla&#8217;s Chief Information Officer Nagesh Saldi is <a href="https://www.benzinga.com/news/24/10/41189500/tesla-cio-quits-before-major-robotaxi-event-exec-departures-continue-in-2024">leaving the company</a> ahead of its Robotaxi unveiling event slated for Oct. 10. Saldi, too, reported directly to Musk. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
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<li><a href="https://www.benzinga.com/news/24/10/41201568/mark-zuckerberg-redesigns-porsche-cayenne-turbo-gt-into-a-minivan-for-wife-priscilla-chan-gets-a-911" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Redesigns Porsche Cayenne Turbo GT Into A Minivan For Wife Priscilla Chan, Gets A 911 GT3 For Himself</a></li>
</ul>
Photo courtesy: Shutterstock

News

Tech

GOOG

GOOGL

TSLA

Tesla's Former Head Of Vehicle Programs Who Left On The Heels Of Mass Layoff Joins Waymo

Company Says the FTC&#39;s Administrative Process Is Unconstitutional, Depriving Its Right to a Jury Trial

Reported Earlier, Asbury Automotive Files Lawsuit Against FTC, Alleges Violation Of Constitutional Jury Trial Rights

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)-focused financial services company Fold, Inc. moved one step closer to going public after submitting an S-4 filing with the SEC.&nbsp;
What happened: The <a href="https://www.sec.gov/Archives/edgar/data/1787441/000121390024085654/0001213900-24-085654-index.htm">filing</a>, which was submitted Monday with the regulator, detailed the company's merger with FTAC Emerald Acquisition Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLD#NASDAQ">FLD</a>)—a special-purpose acquisition company that helps a private firm go public.
Following the merger, New Fold Common Stock and Public Warrants would continue trading on Nasdaq under symbols "FLD" and "FLDDW," respectively.
Fold announced its <a href="https://www.businesswire.com/news/home/20240724261013/en/Fold-to-Go-Public-as-the-First-Pureplay-Financial-Services-Company-Powered-by-Bitcoin">decision </a>to list on Wall Street in July this year, with CEO Will Reeves stating, "This transaction represents a significant step in Fold's mission to expand access to premium Bitcoin financial services and empower individuals to achieve their dreams."
The company mentioned that post-transaction, it will have more than 1,000 BTCs on its balance sheet.
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41216960/kamala-harris-on-cannabis-and-crypto-key-questions-that-could-be-answered-on-60-minutes">Kamala Harris On Cannabis And Crypto: Key Questions That Could Be Answered On &#8217;60 Minutes&#8217;</a>
Why It Matters: Founded in 2019, Fold allows users to earn Bitcoin rewards through its debit card, similar to credit card cashback. It also enables buying and selling the leading cryptocurrency directly from Fold accounts.&nbsp;
The firm disclosed facilitating over $2 billion in transaction volume and distributing over $45 million in Bitcoin rewards.&nbsp;
Should it pass the regulatory hurdles, Fold will join the ranks of MicroStrategy and Block, recognized for holding a significant amount of the top cryptocurrency on their books.
MicroStrategy was the undisputed leader, holding a stash worth $15.79 billion as of this writing, <a href="https://bitcointreasuries.net/">according</a> to bitcointreasuries.net.
Price Action: At the time of writing, Bitcoin was exchanging hands at $62,611.01, down 1.46% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. Shares of FTAC closed 0.09% lower at $10.83 during Monday&#8217;s trading session.
Image Via Shutterstock
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</ul>

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

Cryptocurrency

Markets

$BTC

EMLD

Bitcoin-Powered Finance Company Fold, Holding 1000 BTC In Reserves, Moves One Step Closer To Nasdaq Listing

SOBR

Reported Earlier, SOBRsafe Raises $8.2M In Private Placement With Institutional Investors

Republican allies of Donald Trump are threatening to terminate the federal contracts of Deloitte, a major consulting firm, following the disclosure of messages from 2020 by one of its employees. The messages, which were critical of Trump&#8217;s presidency, <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41214859/this-polymarket-trader-holds-6-4-million-in-donald-trump-election-bets-if-not-musk-definit">were shared by the employee</a>.
What Happened: The employee, Kevin Gallagher, who is not associated with the content of the messages, was publicly named by Donald Trump Jr., and his comments were further circulated by Sen.&nbsp;J.D. Vance&#8216;s&nbsp;(R-Ohio) chief spokesman and a Republican senator. The Washington Post <a href="https://www.washingtonpost.com/politics/2024/10/07/vance-messages-deloitte-retaliation/">reported</a> on Monday.
Vance stated in the messages that Trump had &#8220;thoroughly failed to deliver&#8221; on his economic agenda while in the White House and predicted he would likely lose the election to Joe Biden, according to the report.
Experts have raised concerns that this incident could be a sign of how a second Trump administration might use the federal government&#8217;s power to punish individual workers for their political actions. 
Despite federal contracting laws prohibiting the termination of a business due to its workers&#8217; private political views, such threats could have a chilling effect.
"I've never seen anything like this," said Kedric Payne, senior director of ethics at the nonpartisan Campaign Legal Center and former deputy chief counsel in the Office of Congressional Ethics. 
See Also: <a href="https://www.benzinga.com/news/24/10/41199702/trump-says-we-need-a-mandate-in-the-vote-and-were-going-to-get-it-as-2024-election-draws-near?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Says &#8216;We Need A Mandate In The Vote, And We&#8217;re Going To Get It&#8217; As 2024 Election Draws Near</a>
Deloitte, which receives approximately $3 billion annually from federal agencies, including the Department of Health and Human Services and the Department of Defense, has not yet addressed how it has handled the situation or whether the employee has faced any internal discipline.
Vance&#8217;s campaign clarified that he has not called for Deloitte to lose its contracts, and neither he nor Trump Jr. has explicitly demanded Gallagher&#8217;s termination.
Why It Matters: This incident is the latest in a series of public threats from Trump&#8217;s MAGA movement. The former president has previously threatened to use the Justice Department to <a href="https://www.benzinga.com/news/24/07/39723781/trump-threatens-to-jail-metas-mark-zuckerberg-and-election-fraudsters-if-re-elected-dont-do-it-be-ca">jail his opponents if he wins a second term</a>. Many of his supporters on social media have called for the employee to be fired.
Deloitte, however, has a political action committee that has distributed its spending across candidates in both parties in recent elections. The company has stated that it is &#8220;deeply committed to supporting our government and commercial clients and we have a long track record of doing so across parties and administrations,&#8221; according to the report
This incident comes amid a series of legal and financial challenges surrounding <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40968244/trumps-new-crypto-ventures-legal-counsel-accused-of-attempting-to-seize-control-of-rival-f">Trump and his ventures</a>. Recently, Trump&#8217;s new cryptocurrency venture faced legal issues, with its legal counsel accused of attempting to seize control of a rival firm. 
Earlier this year, Trump was <a href="https://www.benzinga.com/markets/equities/24/04/38061721/trump-media-co-founders-sued-by-ex-president-they-began-ceaseless-attempts-to-thwart-the-blank-c">involved in a lawsuit against the co-founders</a> of his media company, Trump Media &amp; Technology DJT, for allegedly failing to fulfill their obligations. 
Additionally, Trump was fined $355 million and <a href="https://www.benzinga.com/news/24/02/37186402/trump-slapped-with-355m-fine-3-year-ban-on-company-leadership-in-new-york">banned from company leadership</a> in New York for fraudulently overstating his net worth. 
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Image Via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Global

Trump Allies Threaten Deloitte's $3B Federal Contracts Over Employee's Disclosure Of JD Vance's 2020 Messages In Which He Said Ex-President 'Failed To Deliver'

The size of the offering reflects an increase of $100 million in aggregate principal amount of the Notes from the previously announced offering size of $400 million.
Patrick intends to use the net proceeds from the offering to redeem all of its&nbsp;$300 million&nbsp;aggregate principal amount of&nbsp;7.500%&nbsp;Senior Notes due 2027, repay a portion of its borrowings under its existing senior secured credit facility and pay fees and expenses in connection with the foregoing.

PATK

Reported Earlier, Patrick Industries Prices Upsized Private Offering Of $500M 6.375% Senior Notes Due 2032

Businesses in Singapore and Hong Kong can now accept payments by JCB credit and debit cards through their existing single integration with Nuvei

NVEI

Reported Earlier, Nuvei And JCB Strengthen Ties To Power Payments In Singapore And Hong Kong

The dividend is payable on&nbsp;Friday, November 15&nbsp;to shareholders of record&nbsp;October 31, 2024.

Dividends

Reported Earlier, A. O. Smith Raised Its Quarterly Dividend By 6% To $0.34/Share, Payable November 15

Several prominent figures in the tech industry, including Nvidia Corporation CEO Jensen Huang, are actively discussing the concept of &#8220;sovereign AI.&#8221; This highlights its importance for national interests and security.
What Happened: In an <a href="https://www.businessinsider.in/artificial-intelligence/news/sovereign-ai-explained-an-ai-cloud-ceo-unpacks-whats-behind-the-trend/articleshow/114013172.cms">interview</a> with Business Insider, JJ Kardwell, CEO of Vultr,&nbsp;a cloud service provider and&nbsp;data center operator, elaborated on the concept of Sovereign AI and its significance in the era of intricate computations.
Sovereign AI is the control a government or organization exerts over AI technologies and data, ensuring they align with national legal frameworks.
It emphasizes local cloud infrastructure, keeping data within borders to meet regulations and address security concerns.
According to Kardwell, &#8220;The higher levels of sovereignty involve no communication, no information whatsoever, even at a control plane level, passing outside of a country.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/10/41195325/apple-might-have-just-found-the-technology-to-power-its-thin-iphone-17-air-display?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple Might Have Just Found The Technology To Power Its Thin iPhone 17 Air Display</a>
According to media reports, India is building local AI capabilities with Nvidia, aligning with its &#8220;Make-in-India&#8221; goals. Japan, also partnering with Nvidia, is developing AI infrastructure for disaster response.
France and Canada are advancing frameworks to safeguard data and tech amid global competition. In response to U.S. restrictions, China is also accelerating its domestic AI efforts, highlighting the geopolitical stakes of sovereign AI.
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: Nvidia CEO has been a strong advocate for sovereign AI. He has previously highlighted the need for nations to develop their own AI capabilities to protect data and preserve cultural identity.
He views sovereign AI as critical for countries to harness their unique strengths in the AI era and has backed this with a $110 million fund for startups in the space.
&#8220;Sovereign AI clouds coming up from all over the world as people realize that they can't afford to export their country's knowledge, their country's culture for somebody else to then resell AI back to them,&#8221; he said during an earnings call in November 2023.
IBM CEO Arvind Krishna also shares this vision. He has urged nations to build their own AI infrastructure, particularly large language models, and called for national AI computing centers to support this effort.
Earlier, Nvidia CFO Colette Kress also highlighted the rising global demand for sovereign AI, driven by the need for local data processing, with countries like India and Japan leading the charge.
Image via Flickr/ Hillel Steinberg
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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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.

Media

Nvidia CEO Jensen Huang Once Spoke About The Importance Of Every Country Needing A Sovereign AI — But What Exactly Is This?

Macro Economic Events

Econ #s

Economics

BBJP

WisdomTree Trust Japan Total Dividend Fund

Reported Earlier, Japan Current Account n.s.a. For August 3.804T Vs. 2.921T Est.; 3.193T Prior

Reported Earlier, Japan Adjusted Current Account For August 3.02T Vs. 2.43T Est.; 2.80T Prior

Reported Earlier, Japan Household Spending (MoM) For August 2.0% Vs. 0.5% Est.; -1.7% Prior

Reported Earlier, Japan Household Spending (YoY) For August -1.9% Vs. -2.6% Est.; 0.1% Prior

Reported Earlier, U.K. BRC Retail Sales Monitor (YoY) For September 1.7% Vs. 0.8% Est.; 0.8% Prior

Dog-themed meme coin First Neiro On Ethereum (NEIRO) became the market's best-performing cryptocurrency Monday, defying the slump in its sister coin Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>).
What happened: NEIRO, <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40041947/dogecoin-owners-new-shiba-inu-dog-neiro-sparks-multi-million-meme-coin-madness-on-solana-e">named after the newly adopted Shiba Inu pup</a> of the owner of Kabosu, the inspiration behind DOGE and subsequent canine-themed cryptocurrencies, pumped over 19% to become the market's biggest gainer in the last 24 hours.&nbsp;&nbsp;
The coin's trading volume soared 90% to $1.206 billion, making it the second-most traded meme currency in the last 24 hours, above the likes of DOGE and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>).
NEIRO spiked to an all-time high of $0.001853, prompting a whale investor to purchase over 841 million of the coin, worth $1.45 million, in the last 24 hours, according to on-chain data. With a portfolio worth $6.51 million, the trader sat on a windfall of $2.67 million.
<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">The entity that once made $145M from <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> is swapping their losing &quot;Neiro Ethereum&quot; for the winning &quot;First Neiro on Ethereum&quot;. 5 hours ago, this entity sold all 17.5M <a href="https://twitter.com/hashtag/NEIROETH?src=hash&amp;ref_src=twsrc%5Etfw">#NEIROETH</a> for $1.22M, taking a $1.49M loss (-55%) after a month of holding. Meanwhile, they further bought… <a href="https://t.co/fnlVpC35NO">https://t.co/fnlVpC35NO</a> <a href="https://t.co/vUhcgPxkqN">pic.twitter.com/vUhcgPxkqN</a>
&mdash; Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1843487360794993049?ref_src=twsrc%5Etfw">October 8, 2024</a></blockquote>
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The rally shrugged off the 4% decline in DOGE, the largest meme coin by market capitalization. NEIRO was up a staggering 37174% since launch.
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41216960/kamala-harris-on-cannabis-and-crypto-key-questions-that-could-be-answered-on-60-minutes">Kamala Harris On Cannabis And Crypto: Key Questions That Could Be Answered On &#8217;60 Minutes&#8217;</a>
Why It Matters: The official X account of NEIRO released a cinematic trailer recently, marketing NEIRO as the next big thing in the dog-themed memecoin arena.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">JUST IN: Ethereum meme <a href="https://twitter.com/search?q=%24NEIRO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NEIRO</a> (<a href="https://twitter.com/NeiroOnEthereum?ref_src=twsrc%5Etfw">@NeiroOnEthereum</a>) release new cinematic trailer &#x1f440; <a href="https://t.co/6WhI47VZMg">pic.twitter.com/6WhI47VZMg</a>
&mdash; BlockNews.com (@blocknewsdotcom) <a href="https://twitter.com/blocknewsdotcom/status/1843048395977711839?ref_src=twsrc%5Etfw">October 6, 2024</a></blockquote>
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In fact, last month, popular DOGE investor SlumDOGE Millionaire offered a <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40825504/dogecoin-millionaire-champions-neiro-amid-1024-spike-since-launch-clear-winner-of-dog-them">bullish forecast for the coin</a>, predicting that NEIRO will become a cult like the original meme coin.
Price Action: At the time of writing, NEIRO was exchanging hands at $0.001722, up 19.3% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
Image via Shutterstock
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41212008/trump-considers-robinhood-exec-dan-gallagher-for-sec-chair-if-re-elected">Trump Considers Robinhood Exec Dan Gallagher For SEC Chair If Re-Elected</a></li>
</ul>

Movers

Trading Ideas

$DOGE

$SHIB

First Neiro On Ethereum, Inspired By Dogecoin Mascot Owner's New Dog, Shoots Up 19% — Sister Coin Reels At 4% Loss

Tesla and Space X CEO Elon Musk talked about his potential role in the Department of Government Efficiency (DOGE) under a new Donald Trump administration&nbsp;&nbsp;&nbsp;
What happened: In an interview with popular media personality Tucker Carlson, Musk explained that the idea behind the so-called DOGE department was to streamline federal spending by overseeing the operations of different agencies.
Musk underlined that the U.S. has far too many federal agencies, about 438 in total.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Elon Musk is all in. (0:00) Elon Musk Is All in on Donald Trump (6:35) Providing Starlink to Victims of Hurricane Helene (9:22) If Trump Loses, This Is the Last Election (21:49) The Epstein and Diddy Client List (33:38) Vaccines (35:49) The Movement to Decriminalize Crime… <a href="https://t.co/jNqB1ThqQz">pic.twitter.com/jNqB1ThqQz</a>
&mdash; Tucker Carlson (@TuckerCarlson) <a href="https://twitter.com/TuckerCarlson/status/1843375397024485778?ref_src=twsrc%5Etfw">October 7, 2024</a></blockquote>
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"That seems crazy," the tech mogul said, emphasizing the need to have fewer agencies.&nbsp;
Musk further stressed the importance of establishing a review process to determine which regulations are reasonable and which are not.&nbsp;
"If you got regulators, every year they are going to add more regulations," he stated. "There will be more rules and regulations every year until, basically, everything is illegal to get anything done."
The multi-billionaire said that the efficiency department would act as a "garbage collection" for regulations that don't make sense.&nbsp;
Musk said that he preferred calling the department ‘DOGE' as it was more ‘fun', in what was an oblique reference to Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), a cryptocurrency that he has <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41148843/much-wow-how-elon-musk-went-from-promising-to-eat-a-happy-meal-if-mcdonalds-adopts-dogecoi">endorsed </a>in the past.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41199931/shiba-inus-shytoshi-kusama-calls-this-nation-crypto-capital-after-it-makes-digital-asset-t">Shiba Inu&#8217;s Shytoshi Kusama Calls This Nation &#8216;Crypto Capital&#8217; After It Makes Digital Asset Transactions Tax Free</a>
Why It Matters: The concept of the commission was <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40453739/elon-musk-sends-dogecoin-spiking-with-ai-generated-image-says-willing-to-serve-in-governme">mooted by Musk</a> in August, when he expressed a desire to lead the so-called department.
His suggestions were heard by Trump, who <a href="https://www.benzinga.com/news/24/09/40761472/could-elon-musk-lead-doge-if-donald-trump-returns-to-the-white-house">announced plans last month</a> to create a government efficiency commission.
&#8220;I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government,&#8221; Trump said at the Economic Club of New York.
Musk has <a href="https://www.benzinga.com/markets/24/07/39877083/elon-musk-may-have-endorsed-trump-but-tesla-would-have-done-even-worse-without-bidens-7-5k-ev-tax-cr">firmly thrown his support behind Trump</a> since the failed assassination attempt on the former president in July.
Price Action: At the time of writing, Dogecoin was exchanging hands at $0.1092, plunging 4.73% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
Image via Shutterstock
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Politics

Elon Musk Says Potential 'DOGE' Department Under A Trump Administration Will Be A 'Garbage Collector' For Regulations That Don't Make Sense

In a novel approach to recruitment, the U.S. Navy has launched a Reddit-based puzzle game aimed at attracting Generation Z.
What Happened: The U.S. Navy has rolled out a Reddit-wide role-playing game to engage the next generation of submariners. The campaign, known as the Sub Reddit Hunt, will run until the end of October, <a href="https://www.forbes.com/sites/petersuciu/2024/10/05/us-navy-launched-subreddit-puzzle-game-to-attract-submariners/">reported</a> Forbes.
The game involves code-breaking and clue-finding to complete command directives and is part of a larger social media campaign targeting Gen Z.
The Navy, along with other military branches, has been increasingly creative in its recruitment strategies, particularly on social media platforms.
See Also: <a href="https://www.benzinga.com/markets/asia/24/10/41191924/chinese-ev-stocks-li-auto-byd-nio-to-benefit-from-rebound-analyst?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Chinese EV Stocks Li Auto, BYD, Nio To Benefit From Rebound: Analyst</a>
The Subreddit Hunt, developed by the agency VML, is designed to attract individuals with a knack for puzzles.
<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">Dive deep into <a href="https://twitter.com/Reddit?ref_src=twsrc%5Etfw">@Reddit</a> with the <a href="https://twitter.com/USNavy?ref_src=twsrc%5Etfw">@USNavy</a> to decipher codes &amp; search for clues to complete command directives — an interactive marketing campaign designed to attract the next generation of submariners. Learn about &quot;Sub Reddit Hunt&quot;, an <a href="https://twitter.com/adage?ref_src=twsrc%5Etfw">@AdAge</a> Editor's Pick: <a href="https://t.co/b9Qh5yIa4k">https://t.co/b9Qh5yIa4k</a> <a href="https://t.co/x5k04XSYjj">pic.twitter.com/x5k04XSYjj</a>
&mdash; VML (@vml_global) <a href="https://twitter.com/vml_global/status/1841168778635137422?ref_src=twsrc%5Etfw">October 1, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
&#8220;To ensure we attract the very best and brightest future sailors, including submariners, the Navy is constantly seeking innovative ways to interact with prospective candidates on … social and digital platforms,&#8221; said Rear Admiral James P. Waters, commander of Navy Recruiting Command, in an announcement.
Earlier, secretary of the Navy Carlos Del Toro announced that the Navy had surpassed its fiscal year 2024 recruitment goals, bringing in 40,978 active-duty enlisted recruits, exceeding the target of 40,600, the report noted.
Why It Matters: The Navy&#8217;s innovative recruitment strategy is part of a broader trend of digital transformation within the military.
Earlier this year, the Navy installed Starlink on the USS Abraham Lincoln aircraft carrier to <a href="https://www.benzinga.com/news/24/08/40540432/us-navy-installs-starlink-on-uss-abraham-lincoln-aircraft-carrier-currently-in-the-middle-east-a-sup">improve operational</a> efficiency and crew morale.
The Navy also <a href="https://www.benzinga.com/top-stories/24/03/37969396/this-us-military-branch-just-trademarked-ai-use-what-it-could-mean">trademarked AI use</a> as it continues to explore artificial intelligence applications. Moreover, in a significant policy shift, the Navy <a href="https://www.benzinga.com/markets/cannabis/24/02/37068701/us-navy-overlooks-recruits-past-cannabis-use-to-reduce-boot-camp-dropouts-and-recruitment-challe">overlooked past cannabis use</a> in recruits to address recruitment challenges.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Gaming

US Navy Is Using A Puzzle On Reddit To Find 'Very Best And Brightest' Future Gen Z Submarine Crews — Here's How They Are Doing It

A Canadian trader, Christopher DeVocht, turned a modest investment into a staggering $306 million by betting on Elon Musk&#8216;s Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock. However, he <a href="https://www.benzinga.com/news/24/10/41141444/tesla-stock-plunges-3-despite-q3-deliveries-exceeding-consensus-and-growing-year-over-year">lost it all during the 2022 bear market</a> and is now suing the Royal Bank of Canada (RBC) and Grant Thornton, alleging &#8220;inadequate advice.&#8221;
What Happened: DeVocht, a carpenter from Vancouver Island, Canada, capitalized on the pandemic-induced stock surge, turning his C$88,000 (approximately $65,000) investment with RBC into a C$415 million (about $306 million) fortune by November 2021, <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-trader-lost-306-million-according-to-lawsuit-rbc-2024-10">reported</a> Business Insider.
However, DeVocht and his advisors chose to hold onto the stocks, resulting in significant losses during the 2022 bear market. DeVocht alleges that the advice he received from RBC and Grant Thornton was negligent and &#8220;inadequate,&#8221; contributing to his account&#8217;s staggering decline.
DeVocht&#8217;s advisors suggested incorporating a company and rolling his securities into it to reduce his tax liabilities from the massive gains he had on paper. 
He was also advised to make charitable donations to lower his tax liability, which further eroded his wealth. RBC also set up margin loan accounts for DeVocht to borrow against his concentrated Tesla stock position for spending purposes.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41177884/mark-cuban-an-ardent-kamala-harris-supporter-isnt-keen-on-elizabeth-warren-as-he-is-on-her?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban, An Ardent Kamala Harris Supporter, Isn&#8217;t Keen On Elizabeth Warren As He Is On Her Pro-Crypto GOP Rival: Here&#8217;s Why</a>
DeVocht&#8217;s lawsuit filing is an initial notice of claim and did not include evidence like brokerage account statements to prove his gains or losses.
Why It Matters: The Tesla stock has been a subject of significant market activity in recent times. In September, traders were looking at the next big catalyst for a bullish thesis, with three major events coming up in early October, including the <a href="https://www.benzinga.com/opinion/24/09/41013449/the-next-big-trade-is-teslas-october-triple-whammy">Fed&#8217;s meeting and first rate cut</a>.
Despite the <a href="https://www.benzinga.com/news/24/10/41141444/tesla-stock-plunges-3-despite-q3-deliveries-exceeding-consensus-and-growing-year-over-year">stock&#8217;s plunge in October</a>, Tesla&#8217;s third-quarter deliveries exceeded consensus and grew year-over-year. The company also <a href="https://www.benzinga.com/news/24/10/41205333/tesla-drops-rwd-variant-of-model-3-and-model-y-in-canada-following-us-strategy-replacing-them-with-l">dropped the rear-wheel drive (RWD) variants</a> of the Model 3 and Model Y in Canada, following a similar move in the U.S.
Analysts believe that Tesla&#8217;s highly anticipated Robotaxi Day could be a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41212796/tesla-robotaxi-day-preview-move-over-autonomous-vehicles-analyst-says-this-positive">significant catalyst for the stock</a>, with several unannounced items potentially driving the stock even further.
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Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Equities

Legal

Tesla Trader's Wild Bet On Elon Musk's Company Ends In A $306M Lawsuit Spiral

On Monday, major U.S. indices saw declines, with the Dow Jones Industrial Average slipping 0.9% to 41,954.24, while the S&amp;P 500 dipped nearly 1% to 5,695.94. The Nasdaq dropped 1.2% to 17,923.90.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>)
Alibaba&#8217;s stock rose by 2.61% to close at $117.52. The stock reached an intraday high of $117.82 and a low of $113.37. Its 52-week high and low are $117.82 and $66.63 respectively. Alibaba&#8217;s stock <a href="https://www.benzinga.com/news/24/09/41089672/whats-going-on-with-alibaba-stock-on-monday">continued to rise</a> as China announced its stimulus plans last week, which included a cut in banks' reserve requirement ratio and a decrease in the seven-day reverse repurchase rate. 
Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)
Nvidia&#8217;s stock increased by 2.24% to close at $127.72. The stock hit an intraday high of $130.64 and a low of $124.95. Its 52-week high and low are $140.76 and $39.23 respectively. Nvidia&#8217;s GPU revenue could be at risk as China prioritizes <a href="https://www.benzinga.com/government/24/10/41204521/nvidias-gpu-sales-at-risk-as-china-pushes-local-ai-chips-in-retaliation">domestic AI chips</a>. 
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41200679/len-sassaman-is-bitcoin-creator-satoshi-nakamoto-in-hbo-documentary-polymarket-punters-see?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Len Sassaman Is Bitcoin Creator Satoshi Nakamoto In HBO Documentary? Polymarket Punters See High Probability</a>
Riot Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>)
Riot Platforms&#8217; stock surged by 3.95% to close at $8.16. The stock reached an intraday high of $8.52 and a low of $7.9. Its 52-week high and low are $18.75 and $6.36 respectively. The company&#8217;s CEO <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41211430/riot-platforms-explores-ai-opportunities-while-staying-focused-on-bitcoin-mining">expressed interest in AI opportunities</a> while maintaining a focus on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) mining. 
Celsius Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELH#NASDAQ">CELH</a>)
Celsius Holdings&#8217; stock fell by 4.73% to close at $28.82. The stock hit an intraday high of $30.42 and a low of $28.79. Its 52-week high and low are $99.62 and $28.79 respectively. Celsius shares dropped to <a href="https://www.benzinga.com/news/24/10/41216891/celsius-holdings-stock-hit-52-week-lows-on-monday-whats-going-on">new 52-week lows</a> on Monday as the company faces slowing growth trends and weaker consumer spending. Analysts have downgraded the stock, with PepsiCo scaling back orders, contributing to further declines. Despite the stock's downturn, Celsius announced the launch of two new flavors under its Essentials line, expected in early 2024.
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s stock dropped by 3.70% to close at $240.83. The stock reached an intraday high of $249.83 and a low of $240.7. Its 52-week high and low are $271 and $138.8 respectively. Investors are eagerly awaiting Tesla&#8217;s<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41198872/teslas-we-robot-event-will-likely-feature-robotaxi-25k-ev-and-optimus-updates-says-"> &#8220;We, Robot&#8221; event</a> scheduled for Thursday. 
Photo by WHYFRAME on Shutterstock
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
Read Next: 
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</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

BABA

CELH

NVDA

RIOT

Alibaba, Nvidia, Riot Platforms, Celsius Holdings, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Leading cryptocurrencies pulled back Monday, matching the decline in stocks, as geopolitical tensions mounted.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-0.61%</td>
<td>$62,482.57</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-0.81%</td>
<td>$2,436.34</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>-2.46%</td>
<td>$0.109</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin retreated sharply after sailing as highs as $64,400 during early trading hours. The leading cryptocurrency plummeted to the early $62,000s by evening.&nbsp;
Ethereum mirrored the above trajectory, spiking above $2,500 in the morning, to later fall to $2,400 after the stock market closed.
Cryptocurrency liquidations surged, exceeding $214 million in the last 24 hours. Over $140 million placed on bullish bets was wiped out.
The Open Interest in Bitcoin futures dropped 2.87%, further indicating the liquidation of long positions.
The Cryptocurrency Fear &amp; Greed remained in the "Neutral" zone, indicating a balance between market forces.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. EDT)</td>
</tr>
<tr>
<td>First Neiro On Ethereum (NEIRO)</td>
<td>+18.27%</td>
<td>$0.001657</td>
</tr>
<tr>
<td>Cat in a dogs world (MEW)</td>
<td>+15.35%</td>
<td>$0.007216</td>
</tr>
<tr>
<td>Sui (SUI)</td>
<td>+8.78%</td>
<td>$2.04</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency stood at $2.17 trillion, following a contraction of 0.61% in the last 24 hours.
Stocks retreated Monday after closing last week on a high. The Dow Jones Industrial Average fell 398.51 points, or 0.94%, to end at 41,954.24. The S&amp;P 500 slipped 0.96% to close at 5,695.94, while the tech-heavy Nasdaq Composite reversed 1.18%, finishing the session at 213.95.
Traders assessed the economic and geopolitical implications of escalating <a href="https://www.benzinga.com/topic/middle-east">tensions in the Middle East.</a>
West Texas Intermediate (WTI) crude <a href="https://www.benzinga.com/markets/equities/24/10/41213960/stocks-slip-as-oil-prices-surge-10-year-yields-cross-4-energy-sector-outperforms-whats-driving-m">rose</a> nearly 3% to $77 a barrel earlier in the day, spurred by concerns over Israel's attack on Iran's oil facilities. Additionally, the benchmark 10-year Treasury yields shot past 4% for the first time since the last week of July.
Investors now awaited the release of FOMC minutes from the Federal Reserve's September policy meeting, due for release on Wednesday, and the Consumer Price Index data, slated for Thursday.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Noted cryptocurrency analyst and trader Rekt Capital stated that Bitcoin was poised to continue its upward momentum with a daily close above $64230
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> It&#39;s very likely Bitcoin will just need a Daily Close above ~$64230 (purple) to further build on its current momentum to the upside<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/xOy9k84Dpf">https://t.co/xOy9k84Dpf</a> <a href="https://t.co/uWn6xaNA4H">pic.twitter.com/uWn6xaNA4H</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1843296571628331214?ref_src=twsrc%5Etfw">October 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Widely-followed cryptocurrency researcher Ali Martinez highlighted the possibility of Ether's rally toward $6,000, given it maintains support above $2,300.
<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">This is a pivotal moment for <a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw">#ETH</a>! If <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> maintains support above $2,300, a new rally toward $6,000 could be on the horizon. But if <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> loses this level, a drop to $1,600 might be next. <a href="https://t.co/v5uwf8a5Un">pic.twitter.com/v5uwf8a5Un</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1843392605486510590?ref_src=twsrc%5Etfw">October 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
To the contrary, he pointed out the risk of diving to even $1,600 if Ether fails to maintain the key support level.
The significance could be gauged by the fact that nearly 2.77 million addresses bagged 52.65 million Ether at the aforementioned level.
<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">The most significant support level for <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> is at $2,300, where 2.77 million addresses bought 52.65 million <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>! <a href="https://t.co/dgwHOvo20L">pic.twitter.com/dgwHOvo20L</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1843449731634344106?ref_src=twsrc%5Etfw">October 8, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by SvetlanaParnikova on Shutterstock
Read Next:    
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41211662/whoosh-viral-baby-hippo-moondeng-surges-380-after-vitalik-buterin-sells-his-stack-and-dona">Whoosh! Viral Baby Hippo Moodeng Surges 380% After Vitalik Buterin Sells His Stack And Donates $642K To Charity</a></li>
</ul>

$ETH

Bitcoin, Ethereum, Dogecoin Reverse As Stocks Come Under Pressure Amid Rising Geopolitical Tensions: ETH Could Rally To $6K If This Happens, Says Popular Analyst

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ETRACS Alerian MLP Infrastructure Index ETN Series B due April 2, 2040

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