Latest news for Global Foo (OTC:PEASF) Stock

Global Food and Ingredients Inc is a plant-based food and ingredients company, focused on pulses and specialty crops chain for peas, beans, lentils, chickpeas and other high protein specialty crops. The Company supplies premium plant-based high protein ingredients to customers around the world and distributes truckload and less-than truckload of bagged product directly to food processing companies, foodservice companies and institutional buyers (educational institutions, healthcare facilities, correctional facilities, etc.) in North America.

GLOBAL FOOD AND INGREDIT by Global Food and Ingredients Ltd.

Global Food and Ingredients Inc

The gross proceeds to ZSPC from the Offering, before deducting underwriting discounts and commissions and estimated offering expenses payable by ZSPC, is expected to be approximately $9.4 million without the exercise of the underwriters' over-allotment option.

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ZSPC

Reported Earlier, zSpace Prices $9.4M Initial Public Offering Of 1,875,000 Common Shares At $5/Share

Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) is advancing its Southeast Asian expansion through stablecoin initiatives in Thailand and the Philippines, as cryptocurrency markets reach new heights amid expectations of a more <a href="https://www.benzinga.com/government/regulations/24/12/42261013/as-bitcoin-surges-coinbase-exec-expects-swift-legislation-thanks-to-trump-and-the-most-pro-crypto-congress-ever">crypto-friendly U.S. administration</a>.
What Happened: Jesse Pollak, founder of Base and head of Coinbase Wallet, emphasized the strategic importance of local currency stablecoins for mass blockchain adoption in Southeast Asia, <a href="https://asia.nikkei.com/Spotlight/Cryptocurrencies/Coinbase-arm-seeks-Southeast-Asia-foothold-with-baht-peso-stablecoins">reported</a> Nikkei on Thursday. 
While Coinbase Exchange isn&#8217;t immediately entering these markets, the company&#8217;s wallet business and Base blockchain platform are targeting developers in Thailand and the Philippines to build infrastructure supporting baht and peso stablecoins.
&#8220;When you bring a local currency &#8216;onchain,&#8217; it solves a few problems,&#8221; Pollak said in an interview. &#8220;If you have a Thai baht stablecoin, it&#8217;s literally the same money but just faster, cheaper and easier to use.&#8221;
The expansion comes as Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) surges over $100,000, driven by optimism surrounding the incoming U.S. <a href="https://www.benzinga.com/24/12/42331261/bitcoin-hits-historic-100000-milestone-michael-saylor-gets-ready-for-party">administration&#8217;s crypto policies</a>. 
See Also: <a href="https://www.benzinga.com/markets/eurozone/24/12/42330913/mohamed-el-erian-calls-michel-barniers-ouster-an-example-of-messy-politics-notes-greek-and-french-bonds-achieving-historic-parity">Mohamed El-Erian Calls Michel Barnier&#8217;s Ouster An Example Of &#8216;Messy Politics,&#8217; Notes Greek And French Bonds Achieving Historic Parity</a>
Why It Matters: Coinbase Chief Policy Officer Faryar Shirzad recently highlighted the <a href="https://www.benzinga.com/government/regulations/24/12/42261013/as-bitcoin-surges-coinbase-exec-expects-swift-legislation-thanks-to-trump-and-the-most-pro-crypto-congress-ever">potential for swift crypto legislation</a> under the new government, citing &#8220;the most pro-crypto Congress ever in history.&#8221;
Thailand has already shown openness to stablecoin innovation, approving its first cross-border payments solution using stablecoins in October. Similarly, the Philippine central bank greenlit a peso <a href="https://www.benzinga.com/markets/cryptocurrency/23/10/35203098/circle-collaborates-with-philippines-exchange-to-promote-usdc-remittances">stablecoin pilot program</a> by Coins.ph in May. 
Coinbase is leveraging these regulatory developments through partnerships like its collaboration with Siam Commercial Bank, which launched Rubie, a stablecoin wallet built on Base.
Industry experts at the recent <a href="https://www.benzinga.com/24/12/42297539/policy-formation-will-be-critical-experts-weigh-in-on-stablecoin-adoption">Benzinga Future of Digital Assets conference</a> emphasized stablecoins&#8217; critical role in bridging traditional and digital finance. Chuck Mounts of S&amp;P Global Ratings noted that &#8220;Stablecoins are… positioned to be the accelerant to the mass adoption for tradfi firms and crypto financial capabilities in the marketplace.&#8221;
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/12/42331990/dogecoin-follows-bitcoins-100k-flourish-with-9-rally-bullish-predictions-galore-but-watch-out-for-the-lofty-ones">Dogecoin Follows Bitcoin&#8217;s $100K Flourish With 9% Rally As Bullish Predictions Rise, But Here&#8217;s What You Should Know</a></li>
</ul>
Image via Flickr
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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

Cryptocurrency

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$BTC

COIN

Coinbase Targets Southeast Asia Crypto Expansion By Supporting Development Of Baht, Peso Stablecoins: 'Literally The Same Money But Just Faster'

The closing of the offering is expected to occur on December 6, 2024 subject to the satisfaction of customary closing conditions.
Amer Sports intends to use the net proceeds it receives from the proposed offering to repay a portion of our outstanding borrowings under our term loan facilities.

Reported Earlier, Amer Sports Prices Its Upsized Public Offering Of 40.8M Ordinary Shares At $23/Share

Nokia's Bell Labs Consulting and stc Group unveil generative AI solution to streamline integration and enhance user experience
<ul>
<li>The Bell Labs Consulting streamlined solution reduces the time new developments take to reach the market, decreases development costs and increases overall efficiency.</li>
<li>stc Group expects this move will transform the network ecosystem, optimizing existing and new services.</li>
<li>The addition of generative AI capabilities will support stc's commitment to driving digital transformation across its operations.</li>
</ul>

Reported Earlier, Nokia's Bell Labs And stc Group Launch Generative AI Solution To Revolutionize Service Provisioning

The Company intends to use the net proceeds from the offering to advance clinical development of its internal product pipeline and for general corporate purposes.

JANX

Reported Earlier, Janux Therapeutics Prices $350M Public Offering Of 5,317,460 Common Shares $63/Shares And Pre-Funded Warrants

SLAB

Silicon Labs Ships 4M Chips With Wirepas To Drive India's Advanced Metering Initiative

This agreement marks the beginning of a long-term partnership, rooted in a mutual focus on creativity and innovation. The collaboration comes as Coty continues to elevate and diversify its portfolio, continuously bringing new products, brands, and innovations to the forefront.
The new partnership also reinforces Coty's reputation as the go-to partner for global brands looking to create or elevate their beauty portfolios.

COTY

Coty Inks Long-Term Beauty License With Swarovski To Develop High-End Fragrance And Beauty Ranges

<ul>
<li>Application is based on data from the Phase III STARGLO study where Columvi plus chemotherapy showed a statistically significant and clinically meaningful improvement in overall survival&nbsp;</li>
<li>This regimen could provide an off-the-shelf, fixed-duration treatment option for patients to start soon after diagnosis, which is important for those who are at high-risk of disease progression&nbsp;</li>
<li>Improving survival outcomes is needed for people with an aggressive disease like relapsed or refractory DLBCL, especially those who aren't eligible for transplant&nbsp;</li>
<li>The FDA is expected to make a decision on approval by July 20, 2025.</li>
</ul>

RHHBF

RHHBY

RHHVF

FDA Accepts Genentech's sBLA For Columvi Combination Therapy For Relapsed Or Refractory Diffuse Large B-Cell Lymphoma

Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) rallied sharply Wednesday night following cryptocurrency market bellwether Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) climb to $100,000.
What happened: The multi-billion dollar-valued meme coin spiked over 9% in the last 24 hours to hit 45 cents, accompanied by an 18% uptick in its trading volume.&nbsp;
The dog-themed coin reacted to Bitcoin, the world's largest cryptocurrency by market capitalization, <a href="https://www.benzinga.com/24/12/42331261/bitcoin-hits-historic-100000-milestone-michael-saylor-gets-ready-for-party#:~:text=%2C%20the%20world's%20largest%20cryptocurrency%2C%20crossed,surpass%20the%20long%2Dawaited%20milestone.">breaching the $100,000 level for the first time</a>.&nbsp;
Widely-followed cryptocurrency analyst Captain Faibik foresaw more upsides for the coin, setting $0.60 as the next target.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a> Another Bullish Rally incoming soon, So keep an eye on it. Next Stop : 0.60$ &#x1f3af;<a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/DOGE?src=hash&amp;ref_src=twsrc%5Etfw">#DOGE</a> <a href="https://twitter.com/hashtag/DOGEUSDT?src=hash&amp;ref_src=twsrc%5Etfw">#DOGEUSDT</a> <a href="https://t.co/CzMvsER4Rh">pic.twitter.com/CzMvsER4Rh</a>
&mdash; Captain Faibik &#x1f43a; (@CryptoFaibik) <a href="https://twitter.com/CryptoFaibik/status/1864493138724753913?ref_src=twsrc%5Etfw">December 5, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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SlumDOGE Millionaire, a renowned early adopter of the cryptocurrency, reminded his followers that DOGE has traditionally followed in the footsteps of Bitcoin, implying a bullish outlook.
<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">I guess you guys forgot that <a href="https://twitter.com/hashtag/DOGE?src=hash&amp;ref_src=twsrc%5Etfw">#DOGE</a> literally follows <a href="https://twitter.com/hashtag/BITCOIN?src=hash&amp;ref_src=twsrc%5Etfw">#BITCOIN</a> Open source code copy/pasted and made with "Dogecoin" in place of where it said "Bitcoin" That was the original <a href="https://twitter.com/hashtag/DOGECOIN?src=hash&amp;ref_src=twsrc%5Etfw">#DOGECOIN</a> <a href="https://t.co/pzsW3mQff9">pic.twitter.com/pzsW3mQff9</a>
&mdash; SlumDOGE Millionaire (@ProTheDoge) <a href="https://twitter.com/ProTheDoge/status/1864512762681991659?ref_src=twsrc%5Etfw">December 5, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42331483/michael-saylors-bitcoin-strategy-drives-microstrategys-490-surge-hedge-fund-cio-says-its-an-extreme-example-of-volatility-monetization">Michael Saylor&#8217;s Bitcoin Strategy Drives MicroStrategy&#8217;s 490% Surge, Hedge Fund CIO Says It&#8217;s An &#8216;Extreme Example&#8217; Of Volatility Monetization</a>
Earlier this week, technical analyst Trader Tardigrade, citing historical trends of the last two bull cycles of 2017 and 2021, projected a massive rally that could power DOGE to as much as $15-$16 in 2025.
If DOGE reaches these levels, it would represent a staggering 3185-3404% increase in a single year.&nbsp;
An X user disputed these estimates, claiming that DOGE&#8217;s market valuation would reach Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) at the forecasted levels, which is an unlikely situation.
Indeed, at $15 per coin and assuming a current supply of 147 billion, Dogecoin&#8217;s market valuation would exceed $2 trillion. For context, Ethereum is presently valued at $464 billion.
<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">Come on now, that looks silly. What marketcap would DOGE have if it would reach $15-16? Probably flip ETH?
&mdash; nada6p (@nada6p) <a href="https://twitter.com/nada6p/status/1863924551521878216?ref_src=twsrc%5Etfw">December 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
But while such lofty forecasts were avoidable, analysts were setting sights on sharp moves in the day ahead.
&#8220;Dogecoin analyst&#8221; Kevin predicted that the coin would reach the &#8220;macro golden pocket&#8221; of $3.80-$4.00 before the end of the week.
<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">In <a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> previous cycle when it had it&#39;s first major leg up it consolidated for 24 days after that move before legging up again to the macro golden pocket. If <a href="https://twitter.com/hashtag/DOGE?src=hash&amp;ref_src=twsrc%5Etfw">#DOGE</a> were to follow a similar path that would mean that that the next leg will start by the end of the week and Doge… <a href="https://t.co/jIDtfnNXxZ">pic.twitter.com/jIDtfnNXxZ</a>
&mdash; Kevin (@Kev_Capital_TA) <a href="https://twitter.com/Kev_Capital_TA/status/1864110830947631236?ref_src=twsrc%5Etfw">December 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
He also signaled the peak of Bitcoin dominance and the start of the altcoin season.&nbsp;
<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">Major bounce right at 55% which for me is the line in the sand to confirm the top is in on Dominance and <a href="https://twitter.com/hashtag/AltcoinSeason?src=hash&amp;ref_src=twsrc%5Etfw">#AltcoinSeason</a> is beginning. This is why we wait for all the evidence. <a href="https://t.co/czdG8JQQql">https://t.co/czdG8JQQql</a>
&mdash; Kevin (@Kev_Capital_TA) <a href="https://twitter.com/Kev_Capital_TA/status/1864513513948950630?ref_src=twsrc%5Etfw">December 5, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Price Action: As of this writing, DOGE was trading at $0.4577, up 9.10% 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>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42331507/happy-bitcoin-100k-day-heres-how-nayib-bukele-brian-armstrong-and-peter-schiff-reacted-to-the-historic-milestone">Happy Bitcoin $100K Day: Here&#8217;s How Nayib Bukele, Brian Armstrong, And Peter Schiff Reacted To The Historic Milestone</a></li>
</ul>

$DOGE

$ETH

$LTC

DOGE

Dogecoin Follows Bitcoin's $100K Flourish With 9% Rally As Bullish Predictions Rise, But Here's What You Should Know

Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) has emerged as a pivotal player in government technology and artificial intelligence, with its influence expanding from immigration enforcement to potential Pentagon leadership.
What Happened: The company&#8217;s Chief Technology Officer, Shyam Sankar, is being considered for the Pentagon&#8217;s top research and engineering position, Politico <a href="https://subscriber.politicopro.com/article/2024/12/trump-considering-tech-exec-to-run-pentagons-engineering-arm-00192642">reported</a> on Wednesday, citing two sources close to the transition team. Sankar has advocated for reforming the Pentagon&#8217;s acquisition system and criticized the defense industry&#8217;s consolidation.
Palantir&#8217;s market value recently reached $159 billion, surpassing traditional defense contractor Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), marking a significant shift in the defense sector landscape. 
The company&#8217;s stock surged after receiving FedRAMP High Authorization for its Federal Cloud Service, expanding its government agency capabilities.
Nicholas Wealth Management founder David Nicholas noted on X that Palantir&#8217;s multimillion-dollar contract with Immigration and Customs Enforcement positions it to benefit from increased border security spending. 
Palantir is poised to benefit from President-elect Donald Trump&#8216;s border security initiatives, according to Nicholas. He wrote, &#8220;This is a win for the stock as billions of dollars will be spent to end the border crisis.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Palantir stands to benefit from President Trump's efforts to secure the border.<a href="https://twitter.com/search?q=%24PLTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PLTR</a> has a multimillion-dollar contract with ICE to store data on illegal immigrants' purchases, calls, and movements. This is a win for the stock as billions of dollars will be spent to end the… <a href="https://t.co/Q3ncxtv6n5">pic.twitter.com/Q3ncxtv6n5</a>
&mdash; David Nicholas (@DavidANicholas) <a href="https://twitter.com/DavidANicholas/status/1864317466815475758?ref_src=twsrc%5Etfw">December 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/eurozone/24/12/42330913/mohamed-el-erian-calls-michel-barniers-ouster-an-example-of-messy-politics-notes-greek-and-french-bonds-achieving-historic-parity">Mohamed El-Erian Calls Michel Barnier&#8217;s Ouster An Example Of &#8216;Messy Politics,&#8217; Notes Greek And French Bonds Achieving Historic Parity</a> 
Why It Matters: The company&#8217;s involvement in immigration enforcement has drawn criticism. According <a href="https://www.theguardian.com/commentisfree/2020/sep/04/palantir-ipo-ice-immigration-trump-administration">to</a> The Guardian&#8217;s opinion piece in 2020, Palantir&#8217;s software was instrumental in ICE operations, including workplace raids that led to mass arrests. In 2017, the company&#8217;s technology was used to map family relations of unaccompanied migrant children, contributing to controversial border policies.
The company maintains these government partnerships despite protests from workers and civil rights organizations, with CEO Alex Karp stating in a company filing, &#8220;We stand by [government clients] when it is convenient, and when it is not.&#8221;
Wedbush Securities Managing Director Dan Ives identifies Palantir as a frontrunner in enterprise AI transformation, calling it &#8220;the biggest tech trend in the last 40 to 50 years.&#8221; According to a Wall Street Journal <a href="https://www.wsj.com/business/palantir-technologies-stock-business-outlook-515f1b5a?st=zqajbdk5uef3s18&amp;reflink=desktopwebshare_permalink">report</a>, however, Palantir&#8217;s government revenue growth slowed to 10% in 2023 from over 20% in 2022.
Price Action: Palantir stock closed at $69.85 on Wednesday, down 1.56% for the day. In after-hours trading, the stock edged lower by 0.21%. Year to date, Palantir&#8217;s stock has surged 321.29%.
According to <a href="https://www.benzinga.com/quote/PLTR/analyst-ratings">data from Benzinga Pro</a>, Palantir has a consensus price target of $30.22, with a high of $75 and a low of $7.50. Recent ratings average $63.67, implying an 8.66% downside.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/05000948/Screenshot-2024-12-05-at-10.39.05%E2%80%AFAM-1024x370.png" alt="" class="wp-image-677836" /></figure>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42331483/michael-saylors-bitcoin-strategy-drives-microstrategys-490-surge-hedge-fund-cio-says-its-an-extreme-example-of-volatility-monetization">Michael Saylor&#8217;s Bitcoin Strategy Drives MicroStrategy&#8217;s 490% Surge, Hedge Fund CIO Says It&#8217;s An &#8216;Extreme Example&#8217; Of Volatility Monetization</a></li>
</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Government

Global

PLTR

Trump Eyes Shyam Sankar For Pentagon Role While Palantir Gains From Border Crisis Contracts — Analyst Says, 'This Is A Win For The Stock'

Macro Economic Events

Econ #s

Economics

Reported Earlier, Australia Trade Balance For October 5.953B Vs. 4.530B Est.; 4.532B (Revised) Prior

On Wednesday, Jim Cramer voiced his apprehensions regarding Gail Slater&#8217;s potential appointment as Assistant Attorney General for Antitrust.
What Happened: The host of CNBC&#8217;s Mad Money took to X, formerly Twitter, and highlighted that Slater is not perceived as a supporter of major tech companies.
This includes tech giants like Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google. Her role will focus on addressing competition issues, a priority underscored by President-elect Donald Trump.
Slater is expected to continue the antitrust division&#8217;s efforts against big tech, a stance Trump reiterated on his social media platform.
See Also: <a href="https://www.benzinga.com/24/12/42256614/trumps-ai-czar-plans-alibabas-new-model-cathie-wood-on-tesla-ai-and-musks-combat-transformation-this-week-in-artificial-intelligence?itm_source=parsely-api">Trump&#8217;s AI Czar Plans, Alibaba&#8217;s New Model, Cathie Wood On Tesla AI, And Musk&#8217;s Combat Transformation: This Week In Artificial Intelligence</a>
"She&#8217;s not known as a friend of big tech," Cramer stated, adding, "Not good for Google for certain."
<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">Hmmm, Gail Slater gets the nod doe Assistant Attorney General for Antitrust. She&#39;s not known as a friend of big tech. Not at all&#8230; A Vance advisor, she&#39;s tasked with, as president-elect Trump says, stopping tech because it is &quot;stifling competition. Not good for Google for…
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1864364036218933598?ref_src=twsrc%5Etfw">December 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Slater&#8217;s background includes serving on the White House&#8217;s National Economic Council in 2018 and working with Fox Corp and Roku. Her experience at the FTC involved blocking mergers, such as Whole Foods&#8217; acquisition of Wild Oats.
Why It Matters: Last month, the U.S. Department of Justice sought a court order compelling <a href="https://www.benzinga.com/news/legal/24/11/42053249/google-could-lose-chrome-browser-in-dojs-latest-antitrust-move">Google to divest</a> its Chrome browser after a ruling determined the company had unlawfully monopolized the search market.
President-elect Trump&#8217;s administration has signaled a tough stance on tech giants, with policies that could <a href="https://www.benzinga.com/news/large-cap/24/11/41774549/trumps-big-tech-policies-what-gop-victory-means-for-apple-google-microsoft">significantly impact companies</a> like Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Google.
Trump&#8217;s proposed tariffs, as high as 60% on goods made in China, could affect companies like Apple, which manufactures most of its products there. This could lead to increased costs for consumers.
Previously, Trump expressed <a href="https://www.benzinga.com/markets/equities/24/10/41351251/trump-says-google-has-a-lot-of-power-but-stops-short-of-endorsing-a-break-up">concerns about Google&#8217;s</a> market power, though he stopped short of endorsing a breakup. He has also criticized the company&#8217;s search results for alleged bias.
Earlier, venture capitalist David Sacks predicted a high <a href="https://www.benzinga.com/24/11/42058073/google-should-be-broken-up-vc-david-sacks-foresees-high-odds-of-antitrust-lawsuit-or-breakup-under-donald-trumps-administration">likelihood of legal</a> action or a breakup of Google under Trump&#8217;s administration, citing the company&#8217;s dominance in search, advertising, and YouTube.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42260222/how-nvidia-ceos-clever-but-nerdy-pick-up-line-turned-a-homework-proposal-into-marriage-while-building-338-trillion-ai-chip-giant-along-the-way?itm_source=parsely-api">How Nvidia CEO Jensen Huang&#8217;s Clever Pick-Up Line Turned A Homework Proposal Into Marriage While Building $3.38 Trillion AI Chip Giant Along The Way</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tech

AAPL

GOOG

GOOGL

Jim Cramer Says Google Could Be In Hot Water As Trump Taps Gail Slater For Antitrust Position: 'Not A Friend Of Big Tech'

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), some sixteen years after its inception as a lesser-known decentralized digital money, is now <a href="https://www.benzinga.com/24/12/42331261/bitcoin-hits-historic-100000-milestone-michael-saylor-gets-ready-for-party">worth over $100,000</a>. Yes, you heard it right!
What happened: The world's largest digital asset breached the historic frontier, Wednesday night, after tantalizing the cryptocurrency community for the past ten days at values slightly below it.
The marquee achievement was celebrated with immense enthusiasm.
El Salvador President Nayib Bukele, known globally for steering his country toward an all-in Bitcoin strategy,<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41847581/el-salvadors-bitcoin-bet-is-paying-off-heres-how-much-the-country-is-up"> laughed at those</a> who questioned his approach.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f602; <a href="https://t.co/yn1b0ZY7ql">https://t.co/yn1b0ZY7ql</a>
&mdash; Nayib Bukele (@nayibbukele) <a href="https://twitter.com/nayibbukele/status/1864504593272721681?ref_src=twsrc%5Etfw">December 5, 2024</a></blockquote>
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MicroStrategy CEO Michael Saylor, who <a href="https://www.benzinga.com/24/11/42253242/microstrategys-michael-saylor-calls-bitcoin-the-manhattan-in-cyberspace-says-its-an-asset-you-could-expect-to-last-1000-years">evangelized Bitcoin's corporate adoption</a>, said he would throw a $100,000 party.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">There is going to be a 100K Party. &#x1f680;<a href="https://t.co/Vo52KQZRe5">https://t.co/Vo52KQZRe5</a>
&mdash; Michael Saylor&#x26a1;&#xFE0F; (@saylor) <a href="https://twitter.com/saylor/status/1864500456552005731?ref_src=twsrc%5Etfw">December 5, 2024</a></blockquote>
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Coinbase CEO Brian Armstrong wished everyone a "Happy Bitcoin $100,000 Day." deeming the asset as the best-performing asset of the last 12 years.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If you bought $100 of Bitcoin when Coinbase was founded in June 2012, it would now be worth about $1,500,000. If you kept the $100 USD you&#39;d only be able to purchase about $73 worth of goods today. Bitcoin is the best performing asset of the last 12 years, and it&#39;s still early… <a href="https://t.co/dvBgX5K7or">pic.twitter.com/dvBgX5K7or</a>
&mdash; Brian Armstrong (@brian_armstrong) <a href="https://twitter.com/brian_armstrong/status/1864510348856053858?ref_src=twsrc%5Etfw">December 5, 2024</a></blockquote>
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Silicon Valley investor and prominent cryptocurrency advocate Balaji Srinivasan said, "The first $100,000 is the hardest."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The first $100,000 is the hardest. <a href="https://t.co/igjg5eO9Mb">pic.twitter.com/igjg5eO9Mb</a>
&mdash; Balaji (@balajis) <a href="https://twitter.com/balajis/status/1864508043305902448?ref_src=twsrc%5Etfw">December 5, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/24/12/42282930/cleanspark-sheds-light-on-bitcoin-acquisition-strategy-says-investments-in-core-business-contribute-the-most-to-shareholder-value">CleanSpark CEO Zach Bradford Explains Why The Company Is Betting on Bitcoin Mining, Not Buying</a>
Prominent pro-Bitcoin voices from the political fraternity also cheered the event.&nbsp;
Senator Cynthia Lummis (R-Wyo.), who has <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42121376/strategic-bitcoin-reserve-wouldnt-require-new-taxpayer-dollars-says-sen-cynthia-lummis">proposed a bill</a> for a strategic Bitcoin reserve, wrote on X, "Don't stop ₿elieving.VBitcoin reaches $100,000."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Don't stop ₿elieving. Bitcoin reaches $100k!
&mdash; Senator Cynthia Lummis (@SenLummis) <a href="https://twitter.com/SenLummis/status/1864509155957956851?ref_src=twsrc%5Etfw">December 5, 2024</a></blockquote>
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Vijay Boyapati, author of &#8220;The Bullish Case for Bitcoin,&#8221; predicted that Bitcoin's next move would be "swift and violent."
"There is very little supply now. Everyone who had $100,000 as their &#8220;magic number&#8221; is gone."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Jeremy Powell calling <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> digital gold is the biggest endorsement of bitcoin yet, if you understand where financial power lies. Bigger than Fink or even Trump.
&mdash; Vijay Boyapati (@real_vijay) <a href="https://twitter.com/real_vijay/status/1864417786858229953?ref_src=twsrc%5Etfw">December 4, 2024</a></blockquote>
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Amid the enthusiasm, staunch Bitcoin critic Peter Schiff attributed Bitcoin's rise to government intervention and political payoffs.&nbsp;
"What couldn&#8217;t be done in a free market was achieved through the cohesive power of the state," Schiff argued.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It&#39;s ironic that <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> only hit $100k by buying off politicians and getting in bed with government. Without expected government intervention, this milestone never would have been hit. What couldn&#39;t be done in a free market was achieved through the cohesive power of the state.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1864506441232744577?ref_src=twsrc%5Etfw">December 5, 2024</a></blockquote>
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Price Action: Meanwhile, Bitcoin continued to push well over $100,000, trading at $103,158.89, up 7.58% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Image via Pixabay
Read Next:&nbsp;
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</ul>

Happy Bitcoin $100K Day: Here's How Nayib Bukele, Brian Armstrong, And Peter Schiff Reacted To The Historic Milestone

MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) is attracting hedge fund interest through its convertible notes offerings, as co-founder Michael Saylor continues his aggressive Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) purchase strategy that has driven the <a href="https://www.benzinga.com/24/12/42331261/bitcoin-hits-historic-100000-milestone-michael-saylor-gets-ready-for-party">company&#8217;s stock up more than 490% this year</a>, as of Wednesday.
What Happened: Calamos Advisors LLC, among other major hedge funds, has appeared as a key player in MicroStrategy&#8217;s $6 billion convertible note issuance this year, <a href="https://www.bloomberg.com/news/articles/2024-12-05/convertible-bond-arbs-are-making-microstrategy-wall-street-s-hottest-trade">reported</a> Bloomberg. 
These notes, created to finance the company&#8217;s growing cryptocurrency holdings, have become attractive vehicles for market-neutral arbitrage strategies.
&#8220;Convertibles are a way for issuers to monetize the volatility of their stocks, and MicroStrategy is an extreme example,&#8221; said Eli Pars, co-chief Investment Officer at Calamos Advisors, whose firm, through various strategies, holds over $130 million in MicroStrategy notes.
See Also: <a href="https://www.benzinga.com/markets/eurozone/24/12/42330913/mohamed-el-erian-calls-michel-barniers-ouster-an-example-of-messy-politics-notes-greek-and-french-bonds-achieving-historic-parity">Mohamed El-Erian Calls Michel Barnier&#8217;s Ouster An Example Of &#8216;Messy Politics,&#8217; Notes Greek And French Bonds Achieving Historic Parity</a>
Why It Matters: Saylor&#8217;s transformation of the enterprise software company has led to the accumulation of Bitcoin now valued at approximately $40 billion. 
The strategy has attracted prominent hedge funds including Linden Advisors, Context Capital, Graham Capital, and Millennium Management. These firms typically employ convertible arbitrage tactics, capitalizing on MicroStrategy&#8217;s exceptional volatility – averaging 5.2% daily movements compared to the S&amp;P 500&#8217;s 0.6%.
The timing appears favorable as <a href="https://www.benzinga.com/24/12/42331261/bitcoin-hits-historic-100000-milestone-michael-saylor-gets-ready-for-party">Bitcoin recently crossed $100,000</a>, driving MicroStrategy&#8217;s shares up 8.7%. However, critics like David Trainer, CEO of New Constructs LLC, warn about potential risks: &#8220;It could be a giant house of cards that will crush many shareholders when it crashes.&#8221;
Price Action: MicroStrategy last traded at $406 after an 8.72% surge on Wednesday. In after-hours trading, the stock rose an additional 1.07%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/24/12/42331305/peter-schiff-backs-bitcoin-pioneer-roger-vers-motion-to-dismiss-tax-evasion-charges">Peter Schiff Backs &#8216;Bitcoin Jesus&#8217; Roger Ver&#8217;s Motion To Dismiss Tax Evasion Charges</a></li>
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Image via Flickr

MSTR

Michael Saylor's Bitcoin Strategy Drives MicroStrategy's 490% Surge, Hedge Fund CIO Says It's An 'Extreme Example' Of Volatility Monetization

On Wednesday, Amazon.com, Inc. co-founder Jeff Bezos shared his positive outlook on Donald Trump&#8217;s upcoming second term, underscoring potential regulatory reductions.&nbsp;
What Happened: In an <a href="https://www.nytimes.com/2024/12/04/business/dealbook/jeff-bezos-trump-amazon-washington-post.html">interview</a> at the New York Times DealBook Summit, Bezos expressed his willingness to assist in cutting regulations.
&#8220;I&#8217;m actually very optimistic this time around,&#8221; he stated referring to Trump&#8217;s enthusiasm for reducing regulations. &#8220;My point of view is, if I can help him do that, I'm going to help him, because we do have too much regulation in this country.&#8221;
See Also: <a href="https://www.benzinga.com/24/12/42256614/trumps-ai-czar-plans-alibabas-new-model-cathie-wood-on-tesla-ai-and-musks-combat-transformation-this-week-in-artificial-intelligence?itm_source=parsely-api">Trump&#8217;s AI Czar Plans, Alibaba&#8217;s New Model, Cathie Wood On Tesla AI, And Musk&#8217;s Combat Transformation: This Week In Artificial Intelligence</a>
Bezos also mentioned his plans to persuade Trump to reconsider his stance on the press.&nbsp;
&#8220;I'm going to try to talk him out of that idea,&#8221; he stated, adding, &#8220;The press is not the enemy.&#8221;
The tech mogul also commented on Elon Musk&#8217;s role in the upcoming term, expressing confidence that the SpaceX CEO would not use his influence to harm competitors Blue Origin.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: Bezos's latest statements came after he decided in October to stop The Washington Post from <a href="https://www.benzinga.com/general/politics/24/10/41557083/jeff-bezos-ends-washington-posts-36-year-tradition-of-endorsements-leaving-staff-roiled">endorsing presidential candidates</a> — a move that sparked subscription cancellations and protests from journalists.
This follows <a href="https://www.benzinga.com/tech/24/11/41843591/jeff-bezos-net-worth-soars-to-record-228b-closing-in-on-elon-musks-top-spot-as-amazon-stock-rises-after-trump-wins-white-house">past tensions</a> between Trump and Bezos, including accusations of bias affecting Amazon.com Inc. during a Pentagon contract bid.
In the past, Bezos and Trump have had a contentious relationship, with the President-elect frequently targeting the former on social media.
In 2018, Trump accused Amazon of avoiding adequate tax payments. In 2019, Amazon filed a lawsuit against the Trump administration, alleging that the President-elect&#8217;s animosity had unfairly impacted its bid for a $10 billion cloud computing contract.
During this year's presidential elections, while Bezos refrained from endorsing any candidate, he <a href="https://www.benzinga.com/news/24/11/41796344/tim-cook-mark-zuckerberg-and-jeff-bezos-congratulate-trump-whats-next-for-the-tech-giants">congratulated Trump on his victory</a>, describing it as an "extraordinary political comeback."
Image via Flickr
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Media

Jeff Bezos Optimistic About Trump's Second Term, Wants To Help Streamline Rules: 'We Do Have Too Many Regulations In This Country'

Renowned economist Peter Schiff on Wednesday backed early Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) adopter Roger Keith Ver in his fight against U.S. authorities on tax evasion charges. 
What Happened: Schiff called Ver&#8217;s motion to dismiss the U.S. Department of Justice&#8217;s indictment for deliberately avoiding tax liability of nearly $50 million &#8220;correct.&#8221;
&#8220;It's an unapportioned direct tax. Hopefully, he wins, forcing the government to lower the top income tax rate or risk a flood of expatriations,&#8221; Schiff argued.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> pioneer <a href="https://twitter.com/rogerkver?ref_src=twsrc%5Etfw">@rogerkver</a>&#39;s motion to dismiss tax evasion charges on the grounds that the &quot;exit tax&quot; is unconstitutional is correct; it's an unapportioned direct tax. Hopefully, he wins, forcing the government to lower the top income tax rate or risk a flood of expatriations.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1864381311969804406?ref_src=twsrc%5Etfw">December 4, 2024</a></blockquote>
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See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42330125/fed-chair-powell-says-economy-remains-strong-bitcoin-is-like-gold-expert-weighs-in">Fed Chair Powell Says Economy Remains Strong, Bitcoin Is &#8216;Like Gold&#8217;: Expert Weighs In</a>
Why It Matters: Ver, also known as &#8220;Bitcoin Jesus,&#8221; was <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38535711/bitcoin-jesus-roger-ver-arrested-in-spain-on-tax-evasion-charges">arrested in Spain</a> earlier this year and charged with mail fraud, tax evasion, and filing false tax returns. 
According to the indictment, Ver—a former resident of California—allegedly began acquiring significant amounts of Bitcoin for himself and his companies in 2011. In 2014, he renounced U.S. citizenship, triggering a legal obligation to report capital gains and pay an "exit tax" on his Bitcoin holdings. 
Additionally, the DOJ alleged that Ver<a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38594967/bitcoin-jesus-roger-ver-charged-with-tax-fraud-how-much-does-he-owe-from-his-bitcoin-gains"> avoided a tax liability of about $50 million</a> on Bitcoin sales of $240 million in 2017, even though he was not a U.S. citizen.
In the motion to dismiss, Ver&#8217;s legal team argued that the &#8220;exit tax&#8221; obligation is unconstitutional, as it ignores constitutional protections for American citizens looking to expatriate.
Ver was an early investor in Bitcoin and Bitcoin-related startups like Bitcoin.com and blockchain.com.
Price Action: In other major news, Bitcoin hit the historic $100,000 milestone for the first time, up 5.74% 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>.
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General

Peter Schiff Backs 'Bitcoin Jesus' Roger Ver's Motion To Dismiss Tax Evasion Charges

On Wednesday, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), the world&#8217;s largest cryptocurrency, crossed the $100,000 barrier for the first time.
What happened: The prized digital asset resisted pushback from bears to eventually surpass the long-awaited milestone.&nbsp;
The news was cheered by the cryptocurrency community, with MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) CEO Michael Saylor, one of the biggest Bitcoin advocates, calling for a $100,000 party.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">There is going to be a 100K Party. &#x1f680;<a href="https://t.co/Vo52KQZRe5">https://t.co/Vo52KQZRe5</a>
&mdash; Michael Saylor&#x26a1;&#xFE0F; (@saylor) <a href="https://twitter.com/saylor/status/1864500456552005731?ref_src=twsrc%5Etfw">December 5, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/24/12/42282930/cleanspark-sheds-light-on-bitcoin-acquisition-strategy-says-investments-in-core-business-contribute-the-most-to-shareholder-value">CleanSpark CEO Zach Bradford Explains Why The Company Is Betting on Bitcoin Mining, Not Buying</a>
Bitcoin has been set into a record-breaking bull run after President-elect Donald Trump's presidential victory last month. The asset has jumped 48% since the event, and more than 126% year-to-date.&nbsp;
Price Action: At the time of writing, Bitcoin was trading at $100,800.66, up 6.23% 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>.
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Movers

Trading Ideas

Bitcoin Hits Historic $100K Milestone, Michael Saylor Gets Ready For Party

U.S. stocks saw a positive day with the Dow Jones climbing approximately 300 points. The NASDAQ rose by 1.3%, closing at 19,735.12, while the S&amp;P 500 increased by 0.6% to 6,086.49.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
MicroStrategy Inc.
MicroStrategy shares surged 8.72%, closing at $406. The stock reached an intraday high of $409.97 and a low of $365.60, with a 52-week range of $43.89 to $542.99. Michael Saylor, the company&#8217;s executive chairman, suggested that Microsoft could <a href="https://www.benzinga.com/markets/24/12/42322403/michael-saylor-says-microsoft-could-add-4-trillion-in-valuation-by-investing-in-bitcoin">add $4 trillion</a> to its valuation by integrating Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) into its financial strategy.
UnitedHealth Group Inc.
UnitedHealth&#8217;s stock rose by 0.92%, closing at $610.79, after hitting a high of $622.83 and a low of $606.97. The 52-week range stands between $436.38 and $630.73. The company was in the spotlight following the tragic news of Brian Thompson, CEO of its UnitedHealthcare division, <a href="https://www.benzinga.com/general/health-care/24/12/42316904/unitedhealthcare-ceo-brian-thompson-fatally-shot-outside-nyc-hotel">being fatally shot</a> in a targeted attack in New York.
SoundHound AI Inc.
SoundHound AI&#8217;s stock jumped 14.30%, closing at $10.15. It peaked at $10.19 and dipped to $8.94 during the day, with a 52-week high of $10.25 and a low of $1.62. The stock&#8217;s rise is attributed to the successful deployment of its&nbsp;<a href="https://www.benzinga.com/trading-ideas/movers/24/12/42326810/soundhound-ai-shares-are-on-the-rise-today-whats-going-on">conversational AI</a>&nbsp;technology, Amelia, in France, and its partnership with Kia to integrate voice AI in vehicles.
SentinelOne Inc.
SentinelOne shares increased by 4.06%, closing at $28.68. The stock&#8217;s intraday high was $29.06, with a low of $27.83, and a 52-week range of $14.33 to $30.76. The company reported a 28% year-over-year revenue increase in its third-quarter financial results, with <a href="https://www.benzinga.com/news/earnings/24/12/42327667/whats-going-on-with-sentinelone-stock-after-hours">annualized recurring revenue</a> reaching $859.7 million.
Tesla Inc.
Tesla&#8217;s stock rose by 1.85%, closing at $357.93, with an intraday high of $358.1 and a low of $348.60. The 52-week range is $138.80 to $360. A Goldman Sachs analyst recently <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42319796/tesla-analyst-lowers-q4-delivery-estimate-says-2-dynamics-will-determine-ev-stocks-valuation">lowered Tesla&#8217;s fourth-quarter delivery estimates</a>, citing weak demand, but maintained a Neutral rating with a $250 price target.
Prepare for the day&#8217;s trading&nbsp;<a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a>&nbsp;by Benzinga.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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Leading cryptocurrencies spiked Wednesday on Federal Reserve Chair Jerome Powell's favorable comments on Bitcoin and nomination of Paul Atkins as the next U.S. Securities and Exchange Commission Chair.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+2.88%</td>
<td>$98,465.76</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>+5.01%</td>
<td>$3,808.09</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>+3.25%</td>
<td>$0.4253</td>
</tr>
</tbody>
</table>
</figure>
What Happened: The world's largest cryptocurrency breached $99,000 after a 10-day gap, while Ethereum tapped $3,800 for the first time in six months.&nbsp;
The rally was likely spurred by Powell <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42325788/fed-chair-powell-bitcoin-is-like-gold-just-virtual-and-digital">equating Bitcoin with gold</a> and dispelling notions that the leading cryptocurrency was a threat to the U.S. monetary system.
The appointment of Paul Atkins, perceived to be <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42323248/trump-nominates-paul-atkins-as-sec-chair-emphasizing-digital-assets-as-key-to-making-america-greater">cryptocurrency-friendly</a>, as SEC's next Chair by President-elect Donald Trump, also provided fuel.
More than $513 million was liquidated from the cryptocurrency market in the last 24 hours, with $330 million in bullish bets getting erased.
About $383 million in short positions risked liquidation on Binance if Bitcoin hits $100,000.
Additionally, the number of top trader accounts shorting Bitcoin exceeded those placing bullish bets on the asset, as per Long/Short Ratio.
The "Extreme Greed" strengthened from 78 to 84 in the last 24 hours, per reading from the Cryptocurrency Fear &amp; Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>Curve DAO Token (CRV)</td>
<td>+23.66%</td>
<td>$1.09</td>
</tr>
<tr>
<td>The Sandbox (SAND)</td>
<td>+19.72%</td>
<td>$0.9311</td>
</tr>
<tr>
<td>Gala (GALA)</td>
<td>+18.08%</td>
<td>$0.06085</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.58 trillion, following an increase of 1.75% in the last 24 hours.
Stocks extended their record-breaking rally on Wednesday. The Dow Jones Industrial Average jumped 308.51 points, or 0.69%, to close above 45,000 for the first time. The S&amp;P 500 gained 0.61% to end at 6,086.49, while the tech-heavy Nasdaq Composite spiked 1.30%, ending at 19,735.12. All three indexes closed at record highs.
The rally comes amid <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42314234/private-employers-add-fewer-than-predicted-jobs-in-november-manufacturing-was-the-weakest-weve-seen-since-spring">lower-than-expected growth</a> in U.S. private businesses in November.
Investors shrugged off Fed Chair Powell's remarks on moving cautiously with rate cuts given the healthy state of the economy, as odds of a 0.25% slash increased from 72.9% to 74% in the last 24 hours, <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">according </a>to the CME FedWatch tool.&nbsp;
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Cryptocurrency analyst venturefounder expected Ethereum to break out of the range where it has been for the last seven years.
"Ethereum to repeat this impulsive breakout it did between 2016-2017 to shoot to new ATH very quickly," the analyst remarked, setting a bold price target of $15,937 by May 2025
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> about to break out of the 3 years of triangle consolidation, and <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> could break out of the range where it has been for past 7 yrs. Ethereum to repeat this impulsive breakout it did between 2016-2017 to shoot to new ATH very quickly Price Target: $15,937 by May 2025 <a href="https://t.co/YpOeWmM03T">pic.twitter.com/YpOeWmM03T</a>
&mdash; venturefounder (@venturefounder) <a href="https://twitter.com/venturefounder/status/1864411777703833742?ref_src=twsrc%5Etfw">December 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
CrypNuevo, a popular X account known for offering technical analysis, predicted that a decisive close above $98,398 will propel Bitcoin to $104,000-$105,000.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> update: 4h time frame &#x270d;&#xFE0F; Acceptance above this dotted yellow line, 2-3 candles above it is enough to signal a potential push to $104k-$105k. Very important: candle closes above it! I don&#39;t want wicks (resistance), I want candle closes. In the meantime, patience&#8230; <a href="https://t.co/rAnsPbhzPw">pic.twitter.com/rAnsPbhzPw</a>
&mdash; CrypNuevo &#x1f528; (@CrypNuevo) <a href="https://twitter.com/CrypNuevo/status/1864443770902651141?ref_src=twsrc%5Etfw">December 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Citing on-chain data, Influential analyst Ali Martinez revealed that nearly 400 whales, those holding between 100 and 10,000 BTC, have joined the network in the last two weeks.
<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">Around 400 new <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> whales—holding between 100 and 10,000 $BTC—have joined the network in the last two weeks! <a href="https://t.co/7qY6EGOWKv">pic.twitter.com/7qY6EGOWKv</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1864355485291565257?ref_src=twsrc%5Etfw">December 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by SvetlanaParnikova on Shutterstock
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Bitcoin, Ethereum, Dogecoin Jump On Jerome Powell's Bullish BTC Take, Paul Atkins SEC Nomination: Analyst Highlights Impressive 320% Upside For ETH By May

On Wednesday, Walt Disney Co.'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) Disney+ announced its expansion in sports content via the integration of ESPN into its platform.
What Happened: Subscribers to the Disney+ bundle, which includes Hulu and ESPN+, will now be able to access all their content in one place.
Standalone Disney+ subscribers will also benefit by gaining access to ESPN+ content, primarily featuring college football and basketball, along with select premium live events.
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This integration is a step towards launching ESPN&#8217;s direct-to-consumer service Flagship, which is expected in Fall 2025, the company stated in a blog post.
Standalone Disney+ users will have access to live ESPN events, including five NBA games on Christmas Day and the opening day of the Australian Open.
Special broadcasts like the &#8220;Monday Night Football&#8221; alternate featuring The Simpsons and the &#8220;Dunk the Halls&#8221; NBA broadcast are already scheduled for Disney+.
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: In September, Macquarie analyst Tim Nollen said, the launch of <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40946689/disney-faces-more-change-ahead-as-espn-dtc-launch-will-accelerate-cord-cutting-nba-">ESPN&#8217;s direct-to-consumer platform</a> could accelerate cord-cutting trends, which will impact traditional cable revenues.
Earlier this month, it was reported that PENN Entertainment has been closely monitoring <a href="https://www.benzinga.com/general/sports-betting/24/11/41852305/penn-entertainment-analysts-say-all-eyes-remain-on-espn-bet-after-q3-earnings-miss">ESPN&#8217;s integration</a>. The company sees potential growth opportunities in 2025, partly due to ESPN&#8217;s expanded reach and product enhancements.
Disney&#8217;s <a href="https://www.benzinga.com/24/11/41971559/disneys-q4-boosted-by-streaming-gains-strong-box-office-and-solid-parks-performance">fourth-quarter earnings</a> report highlighted a 6% increase in revenue, reaching $22.57 billion, slightly surpassing the projected $22.35 billion from analysts.&nbsp;
Price Action: Disney&#8217;s stock edged up by 0.46% on Wednesday, closing at $116.99, with a further 0.060% increase in after-hours trading. So far this year, Disney shares have risen 28.97%, slightly trailing the Nasdaq 100 index, which has gained 29.91% during the same timeframe, <a href="http://pro.benzinga.com/">as per Benzinga Pro data</a>.
Disney has a consensus price target of $121.41 from 30 analysts, with the highest set at $140 by BofA Securities on Nov. 15. The latest ratings from Needham, Evercore ISI Group, and Needham average $131.33, indicating a potential 12.19% upside.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/DIS/analyst-ratings"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/04204909/Screenshot-2024-12-05-at-7.19.03%E2%80%AFAM-1024x376.png" alt="" class="wp-image-677698" /></a></figure>
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.

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