Sino Biopharmaceutical Stock (OTC: SBHMY)

Latest news for Sino Biopharmaceutical (OTC:SBHMY) Stock

Sino Biopharmaceutical

Listed on the Hong Kong Stock Exchange in 2000, Sino Biopharmaceutical is one of the largest Chinese drugmakers. It started with generic drug manufacturing. Since 2018, Sino Biopharm has been actively pivoting into an innovative drugmaker after the Chinese government launched its volume-based procurement policy for the healthcare industry. As of 2023, 37.8% of the firm's total revenue comes from five innovative drugs and five biosimilar drugs. Sino Biopharm's biggest revenue segment is oncology medicines, accounting for 33.6% of total revenue, followed by hepatitis, surgery/analgesia, respiratory, and cardio-cerebral vascular therapeutic areas.

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Avadel Pharmaceuticals plc - American Depositary Shares each representing one Ordinary Share

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SINO BIOPHARM UNSP/ADR by Sino Biopharmaceutical Ltd.

Sino Biopharmaceutical Ltd

<a href="https://www.benzinga.com/topic/donald-trump" target="_blank" rel="noreferrer noopener">Donald Trump</a> voters, along with the broader electorate, expressed overwhelming confidence in the 2024 election process, a striking contrast to the <a href="https://www.benzinga.com/markets/equities/24/04/38476449/voters-reveal-whether-they-feel-donald-trump-is-receiving-fair-treatment-in-court-in-latest-poll">skepticism that marked the 2020 presidential race</a>.
With 88% of voters saying the 2024 elections were run well, up from just 59% in 2020, there&#8217;s a clear shift in perception — especially among Trump supporters, according to a Pew Research Center <a href="https://www.pewresearch.org/politics/2024/12/04/voters-broadly-positive-about-how-elections-were-conducted-in-sharp-contrast-to-2020/">poll</a>.
In the wake of Trump&#8217;s win, 93% of Trump voters believe the elections were &#8220;administered&#8221; well, a dramatic increase from only 21% who felt the same four years ago. This change in attitude highlights how the election&#8217;s outcome has reshaped their views on election integrity.
This newfound confidence is not limited to overall perceptions of election administration but extends to specific aspects of the voting process, including the accuracy of vote counts.
Trump voters, once highly skeptical, are now expressing substantial confidence in both in-person and mail-in vote counts.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/entertainment/24/12/42377867/most-visited-wikipedia-pages-in-2024-trump-harris-musk-swift-politics-and-netflix-dominate-list" rel="noreferrer noopener">Most Visited Wikipedia Pages In 2024: Trump, Harris, Musk, Swift, Politics And Netflix Dominate List</a>
Today, 94% of Trump voters trust in-person ballots were counted correctly, a 30-point jump from 2020, Pew Research finds in the survey. Confidence in absentee ballots has also soared among Trump voters, from 19% in 2020 to 72% in 2024.
While Biden voters remain overwhelmingly confident in the accuracy of both voting methods, with 95% expressing trust in absentee ballot counts in 2020, Harris voters are slightly less confident in the 2024 election. However, 84% of Harris voters still believe elections were well-run, a strong showing that reflects broader approval of the election process.
This dramatic reversal in Trump voters&#8217; views marks a sharp departure from the contentious atmosphere surrounding the 2020 election, showing how the outcome of an election can dramatically shift perceptions of its fairness and execution.
For this analysis, Pew Research surveyed 9,609 U.S. adults, including 8,072 U.S. citizens who reported having voted in the November election. The survey was conducted Nov. 12-17, 2024.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/12/42378030/benzinga-bulls-and-bears-tesla-gamestop-nvidia-bitcoin-and-dogecoin-analyst-flags-1-30-1-50-as-key-target" target="_blank" rel="noreferrer noopener">Benzinga Bulls And Bears: Tesla, GameStop, Nvidia, Bitcoin, And Dogecoin Analyst Flags $1.30-$1.50 As Key Target</a></li>
</ul>

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Trump Voters' Trust in Election Process Soars In Sharp Reversal To Post-2020 Feelings

Incyte (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INCY#NASDAQ">INCY</a>) today announced results from the Phase 3 POD1UM-304 trial of retifanlimab (Zynyz&#xAE;), a humanized monoclonal antibody targeting programmed death receptor-1 (PD-1), in combination with platinum-based chemotherapy for the treatment of adults with previously untreated non-squamous and squamous metastatic non-small cell lung cancer (NSCLC) not harboring a driver mutation. These data were featured today in a mini oral presentation at the European Society for Medical Oncology (ESMO) Asia Congress 2024, held in Singapore and virtually.
&nbsp;
— Phase 3 POD1UM-304 trial met primary endpoint of overall survival (OS) and all secondary endpoints in patients with previously untreated metastatic non-small cell lung cancer (NSCLC)
— Data presented at the European Society for Medical Oncology (ESMO) Asia Congress 2024 support the planned 2025 filing of a supplemental Biologics License Application (sBLA) in the U.S. for retifanlimab in NSCLC

INCY

Incyte Announced Results From Phase 3 Trial Evaluating Retifanlimab In Combination With Platinum-based Chemotherapy In Patients With Non-small Cell Lung Cancer At ESMO Congress; Said Phase 3 POD1UM-304  Trial Met Primary Endpoint Of Overall Survival And All Secondary Endpoints In Patients With Previously Untreated Metastatic NSCLC

Amgen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) today announced&nbsp;new data demonstrating that adding BLINCYTO&#xAE; (blinatumomab) to chemotherapy significantly improves disease-free survival (DFS) in newly diagnosed pediatric patients with National Cancer Institute (NCI) standard risk (SR) B-cell acute lymphoblastic leukemia (B-ALL) of average or higher risk of relapse. The data are from a Phase 3 study (AALL1731) conducted by the Children's Oncology Group. The results were simultaneously <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4319894-1&amp;h=1897591024&amp;u=http%3A%2F%2Fwww.nejm.org%2Fdoi%2Ffull%2F10.1056%2FNEJMoa2411680&amp;a=published">published</a>&nbsp;in the New England Journal of Medicine and will be presented during the plenary session on Sunday, Dec. 8, at 2 p.m. PT at the 66th American Society of Hematology (ASH) Annual Meeting &amp; Exposition in San Diego.
Based on the results of the first pre-specified interim analysis for efficacy, the study met its primary endpoint of DFS and study randomization was terminated early based on the recommendation from the data and safety monitoring committee due to the benefit observed in the BLINCYTO arm compared to the chemotherapy-only arm. Overall, the 3-year DFS was 96.0% for patients treated with chemotherapy plus BLINCYTO compared to 87.9% for those treated with only chemotherapy. The hazard ratio (HR) was 0.39 [95% confidence interval (CI) 0.24-0.64], indicating a 61% reduction in the risk of disease relapse, secondary malignant neoplasm or remission death with BLINCYTO. At 3 years, more patients remained alive and cancer free when treated with BLINCYTO plus chemotherapy compared to chemotherapy alone.

AMGN

Amgen Announced Blincyto Added To Chemotherapy Significantly Improves Survival In Newly Diagnosed Pediatric Patients With B-cell Precursor Acute Lymphoblastic Leukemia At ASH; Said Phase 3 Study Results Demonstrated Three Year, Disease-Free Survival of 96%

<a href="https://www.globenewswire.com/Tracker?data=iLZ9x69dnGVH2dDnn_bqKdcRxuqSk8c9oR7gIU98LWWR7EKFfy8SYnFEVh3zx6Q_3ZtiiGoWRO5HH5TVXoK6RKufAiNiO3mNqfmZfC89hSY=">Beam Therapeutics Inc.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEAM#NASDAQ">BEAM</a>), a biotechnology company developing precision genetic medicines through base editing, today announced new safety and efficacy data from its BEACON Phase 1/2 clinical trial of BEAM-101 in patients with sickle cell disease (SCD) with severe vaso-occlusive crises (VOCs). The data were featured today in the press program for the 66th American Society of Hematology (ASH) Annual Meeting and Exposition in San Diego and will be presented in an oral session on Sunday, Dec. 8, 2024, at 10 a.m. PT.
All Seven Patients Treated with BEAM-101 Achieved Hemoglobin F (HbF) Induction of &gt;60%, Hemoglobin S (HbS) Reduction to &lt;40%, and Resolution of Anemia Post-BEAM-101 Treatment
Initial Safety Profile Consistent with Busulfan Conditioning and Autologous Hematopoietic Stem Cell Transplantation
All Seven Patients Dosed Achieved Target Cell Dose with One or Two Mobilization Cycles and Experienced Rapid Neutrophil and Platelet Engraftment
Markers of Hemolysis Normalized or Improved in All Patients

BEAM

Beam Therapeutics Announced New Data from BEACON Phase 1/2 Clinical Trial Of BEAM-101 In Sickle Cell Disease at ASH Meeting; Said All Seven Patients Treated With BEAM-101 Achieved Hemoglobin F (HbF) Induction Of >60%, Hemoglobin S (HbS) Reduction To <40%, And Resolution Of Anemia Post-BEAM-101 Treatment

Positive results from the pivotal LUNA 3 phase 3 study of rilzabrutinib in adults with persistent or chronic immune thrombocytopenia (ITP), a rare immune-mediated disease, reinforce the efficacy and safety of rilzabrutinib, an oral, reversible, covalent Bruton's tyrosine kinase (BTK) inhibitor, and further support its potential as a first-in-class treatment for ITP. Platelet response was achieved in 65% (n=86) of patients receiving rilzabrutinib compared to 33% (n=23) of patients on placebo. The primary endpoint was met, with rilzabrutinib demonstrating durable platelet response in 23% of ITP adult patients compared to 0% on the placebo arm (p&lt;0.0001), as well as key secondary endpoints including reduced bleeding, number of weeks with platelet response, the need for rescue therapy use, and improved physical fatigue and quality of life measures.

Sanofi Announced Rilzabrutinib Demonstrated Significant Patient Benefit In First Positive Phase 3 Study Of BTK Inhibitor In ITP At ASH; Said  Phase 3 Data Show Rapid And Durable Platelet Response, Reduced Bleeding And Need For Rescue Response

Y-mAbs Therapeutics, Inc. (the "Company" or "Y-mAbs") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YMAB#NASDAQ">YMAB</a>), a commercial-stage biopharmaceutical company focused on the development and commercialization of novel radioimmunotherapy and antibody-based therapeutic products for the treatment of cancer, today announced the presentation of CD38-SADA in Non-Hodgkin Lymphoma (NHL) preclinical data and trial in progress posters at the 66th American Society of Hematology (ASH) Annual Meeting &amp; Exposition being held on December 7 –10, 2024, in San Diego, California.
A poster titled "CD38-SADA, a Self-Assembling and Dis-Assembling Bispecific Fusion Protein for Two-Step Pretargeted Radioimmunotherapy of Non-Hodgkin Lymphoma" characterizes the selective binding of CD38-SADA to DOTA-chelated lanthanide metals and high-avidity binding to CD38, a tumor specific antigen overexpressed across a range of lymphoma cells. Data from this poster demonstrate anti-tumor efficacy of CD38-SADA when used with Lutetium 177 (Lu177)-DOTA in a two-step approach to pre-targeted radioimmunotherapy ("PRIT"). Tumor responses in a xenograft mouse model were rapid and dose-dependent, further supporting the clinical development of CD38-SADA PRIT in patients with CD38-positive lymphoid malignancies.
"This preclinical analysis provides important insights into the unique pharmacology of CD38-SADA and its therapeutic potential for NHL," said&nbsp;Brian H. Santich, Ph.D., the lead author and co-inventor of the SADA PRIT technology platform. "The anti-tumor efficacy positively correlated with increasing doses of Lu177-DOTA and CD38-SADA, which informed the study design and initial dosing regimen of our Trial 1201 in patients with NHL."

YMAB

Y-mAbs Presents SADA Platform Preclinical Data And Trial In Progress Posters At ASH Meeting; Said Anti-tumor Efficacy Positively Correlated With Increasing Doses Of  Lu177-DOTA And CD38-SADA

bluebird bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLUE#NASDAQ">BLUE</a>) today announced updated data from patients with beta-thalassemia who require regular blood transfusions treated with betibeglogene autotemcel (beti-cel, approved commercially as ZYNTEGLO&#x2122;) in clinical studies. The data was presented today at the 66th American Society of Hematology (ASH) Annual Meeting and Exposition.
Long-Term Follow-Up Data Continue to Support Beti-Cel as a Potentially Curative Gene Therapy for β-Thalassemia Patients Who Require Regular Transfusions Through Achievement of Durable Transfusion Independence and Normal or Near-Normal Adult Hb Levels
Treatment effects sustained through long-term follow-up of beyond 10 years in the earliest treated patients (n=2); 81% of participants have &gt;5 years of follow-up

BLUE

bluebird bio Announced Long-Term Follow-Up Data Continue To Support Beti-Cel As Potentially Curative Gene Therapy For β-Thalassemia Patients Who Require Regular Transfusions Through Achievement Of Durable Transfusion Independence And Normal Or Near-Normal Adult Hb Levels At ASH Meeting

Dog-themed meme coin Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) has surged by 208% so far in 2024, catapulting its market capitalization to $18.28 billion.
What Happened: Currently positioned at number 12, Shiba Inu&#8217;s consistent rally&nbsp;since the beginning of Q4&nbsp;2024 has led crypto analysts to forecast its potential rise&nbsp;into the top 10 cryptocurrencies&nbsp;by market cap. 
The price of SHIB rose from a low of $0.00001079 on August 5 to&nbsp;$0.00003318 on December 1, before&nbsp;slightly pulling back to&nbsp;$0.00003090.
This impressive rally has shattered multiple resistance levels, with the next resistance marked&nbsp;at $0.00004575, a yearly high&nbsp;achieved in Q1 2024. Despite the price rally, it&#8217;s the growing market cap of SHIB that has captured analysts&#8217; attention.
According to data from <a href="https://www.benzinga.com/crypto">Benzinga</a>, SHIB&#8217;s market cap has been steadily increasing since September, with capital&nbsp;inflow into the Shiba Inu&nbsp;network propelling the ecosystem&#8217;s market cap&nbsp;from $7.57 billion in the&nbsp;first week of September to&nbsp;$19.41 billion as of December&nbsp;5.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42256519/shiba-inu-soars-to-eight-month-high-up-13-as-meme-coins-rally">Shiba Inu Soars To Eight-Month High, Up 13% as Meme Coins Rally</a>
Shiba Inu currently lags behind Avalanche (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/avax/usd">AVAX</a>), which occupies the 11th spot&nbsp;in the overall ranking,&nbsp;with a market cap of $21.28 billion. 
However, analysts are of the opinion that the strong momentum of SHIB could potentially outpace AVAX and break&nbsp;into the top 10 cryptocurrencies.
Why It Matters: The surge in Shiba Inu&#8217;s market cap is a testament to the growing popularity and acceptance of memecoins in the crypto market. 
This rally is not just about price but also about the increasing market cap, indicating a significant inflow of capital&nbsp;into the Shiba Inu network. 
If Shiba Inu continues this momentum, it could potentially disrupt the current rankings and establish itself among the top 10 cryptocurrencies, a feat that would further solidify the position of meme coins in the crypto space.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42254813/shiba-inu-burn-skyrockets-7400-nearly-2b-tokens-destroyed">Shiba Inu Burn Skyrockets 7,400%, Nearly 2B Tokens Destroyed</a>

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

Cryptocurrency

$AVAX

$SHIB

Shiba Inu's 208% Surge This Year Sparks Predictions Of Top 10 Crypto Ranking In 2025

Nektar Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKTR#NASDAQ">NKTR</a>) today announced results of its Phase 2 proof-of-concept study evaluating NKTR-255 as an adjuvant treatment to enhance complete response rate (CRR) and durability following CD19-directed CAR-T therapy in patients with relapsed/refractory (R/R) Large B-cell Lymphoma (LBCL) at the 66th ASH Annual Meeting and Exposition in San Diego, California.
73% of the NKTR-255 treatment group compared to 50% of the placebo group achieved a complete response at 6 months
NKTR-255 enhanced CAR T-cell kinetics with improved CD8+ CAR-T area under the curve (AUC) 0-15 days post-administration being 5.8-fold greater than placebo-controls
&nbsp;

NKTR

Nektar Therapeutics Announced NKTR-255 Following CD19-directed CAR-T Therapy Enhanced Complete Response Rates in Patients with Relapsed or Refractory Large B-cell Lymphoma At ASH Meeting; 73% Of NKTR-255 Treatment Group Vs 50% Of Placebo Group Achieved Complete Response At 6 Months

Galapagos NV ((Euronext &amp;amp, NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLPG#NASDAQ">GLPG</a>) today announced additional data from the ongoing Phase 1/2 ATALANTA-1 study of its CD19 CAR T-cell therapy, GLPG5101. The results, featured in an oral presentation at the 66th American Society of Hematology (ASH) Annual Meeting and Exposition, demonstrate efficacy and safety profile in patients with relapsed/refractory non-Hodgkin lymphoma (R/R NHL). Most patients in the study received GLPG5101 as a fresh, fit, stem-like, early memory CD19 CAR T-cell therapy, with a median vein-to-vein time of seven days.&nbsp;
<ul>
<li>Data from the ongoing Phase 1/2 ATALANTA-1 study in a heavily pretreated R/R NHL patient population demonstrate high antitumor activity and an encouraging safety profile in all NHL subtypes studied.</li>
<li>96% of patients received an infusion of fresh, fit, stem-like, early memory CD19 CAR T-cell therapy with a median vein-to-vein time of seven days, avoiding the need for cryopreservation and bridging therapy.</li>
<li>These data reinforce the potential of Galapagos' decentralized cell therapy manufacturing platform to deliver fresh, fit cells, fast, driving positive patient outcomes.</li>
</ul>
&nbsp;
&nbsp;

GLPG

Galapagos Announced New Results from Ongoing Phase 1/2 Study of CD19 CAR T-Cell Therapy, GLPG5101, In Patients with Relapsed/Refractory Non-Hodgkin Lymphoma; Demonstrated High Antitumor Activity And An Encouraging Safety Profile In All NHL Subtypes Studied

President-elect <a href="https://www.benzinga.com/topic/donald-trump" target="_blank" rel="noreferrer noopener">Donald Trump</a> is in Paris for his first international trip since winning back the presidency, where he joined world leaders and dignitaries in celebrating the reopening of the Notre Dame Cathedral following <a href="https://www.benzinga.com/news/global/24/12/42328909/french-government-collapses-after-vote-of-no-confidence" target="_blank" rel="noreferrer noopener">its restoration after a devastating fire in 2019</a>.
French President <a href="https://www.benzinga.com/topic/emmanuel-macron" target="_blank" rel="noreferrer noopener">Emmanuel Macron</a>, who invited Trump to the event, has been praised for overseeing the restoration efforts, The Business Standard Reports
Although Trump and Macron have had a complicated relationship, Macron has worked to cultivate ties with the president-elect, especially after his victory over Vice President Kamala Harris last month.
Macron&#8217;s office played down the significance of the invitation, noting that politicians who are no longer in office have been invited to such events in the past. President Joe Biden, also invited, will not attend due to a scheduling conflict. First Lady Jill Biden is officially representing the U.S. at the event.
Also Read: <a target="_blank" href="https://www.benzinga.com/tech/24/12/42377065/trumps-transition-team-considering-undoing-uspss-contracts-with-ford-oshkosh-for-electrifying-fleet-report" rel="noreferrer noopener">Trump&#8217;s Transition Team Considering Undoing USPS&#8217;s Contracts With Ford, Oshkosh For Electrifying Fleet: Report</a>
Trump&#8217;s visit comes at a crucial time, as Macron and other European leaders seek to maintain U.S. support for Ukraine amid its ongoing defense against Russia&#8217;s invasion.
Ahead of the Notre Dame celebration, Macron will meet with Trump and separately with Ukrainian President Volodymyr Zelenskyy. The restoration of Notre Dame serves as a symbol of resilience, much like the broader geopolitical challenges facing Europe and the West, The Business Standard adds.
During Trump&#8217;s presidency, relations between France and the U.S. were initially warm but grew strained over issues like NATO and trade.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/personal-finance/24/12/42378433/suze-orman-warns-fear-is-fueled-by-stress-why-60-dont-manage-it-and-4-in-10-worry-about-retirement-savings" target="_blank" rel="noreferrer noopener">Suze Orman Warns: &#8216;Fear Is Fueled by Stress&#8217; – Why 60% Don&#8217;t Manage It and 4 in 10 Worry About Retirement Savings</a></li>
</ul>
Image: Wikimedia Commons

Trump Attends Notre Dame Reopening in First International Trip as President-Elect

In an unprecedented development, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) surged past the $100,000 mark last week, a first in its history. This milestone comes amidst a climate of regulatory speculation and the ripple effects of President-elect <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42024635/scaramucci-trumps-crypto-support-could-push-bitcoin-to-150k">Donald Trump&#8216;s victory</a>.
What Happened: In a recent interview, Anthony Scaramucci, founder of Skybridge Capital, discussed the evolving landscape of cryptocurrency regulation and the future of Bitcoin.
Scaramucci, who has a substantial personal investment in Bitcoin, <a href="https://www.youtube.com/watch?v=Lg2HCpWE1gQ">told</a> Yahoo Finance, &#8220;I have a lot of my personal net worth in Bitcoin because I&#8217;m not looking at it and not tracking it day to day. But this milestone is important because I think it tells people that Bitcoin is probably ready now for prime time institutional investing.&#8221;
&#8220;There are 85 million people in this country that own crypto in one form or another. There are 65 million dog owners, so you have more crypto owners than you have dog owners,&#8221; Scaramucci said. 
&#8220;So, I think the Biden administration is looking at polling data and recognizing that younger people, Hispanic community, African-American community are in crypto. You guys really want to go that hard against crypto, I don&#8217;t think it makes sense from electoral perspective,&#8221; he added. 
Also Read: <a href="https://www.benzinga.com/news/24/11/42254953/scaramucci-on-trump-deportation-plan-were-going-to-have-a-stock-market-crash">Scaramucci on Trump Deportation Plan: &#8216;We&#8217;re Going To Have a Stock Market Crash&#8217;</a>
Scaramucci also shared his thoughts on Trump&#8217;s appointment of Paul Atkins as the new SEC Chair. &#8220;I do like it. I&#8217;ve&nbsp;known Paul a long time.&nbsp;He&#8217;s a libertarian by nature,&#8221; he said. 
Scaramucci went on to underscore the growing acceptance of crypto, pointing out that there are now more crypto owners in the US than dog owners.
Why It Matters: The meteoric rise of Bitcoin, coupled with the ongoing regulatory discussions, underscores the increasing significance of cryptocurrencies in the global financial landscape. 
As Scaramucci pointed out, the surge past $100,000 could signal that Bitcoin is ready for mainstream institutional investment. 
Furthermore, the appointment of a libertarian-leaning SEC Chair could potentially lead to a more favorable regulatory environment for cryptocurrencies. 
This development, along with the growing popularity of crypto among the US population, could pave the way for further growth and acceptance of cryptocurrencies in the future.
Read Next
<a href="https://www.benzinga.com/news/24/11/41866624/scaramucci-on-trump-win-i-got-it-wrong-im-not-going-to-whine-about-it" target="_blank" rel="noreferrer noopener">Scaramucci On Trump Win: ‘I Got It Wrong, I'm Not Going To Whine About It'</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

$BTC

Scaramucci: Bitcoin Is a Volatile Asset, But 'Ready for Prime Time Institutional Investing'

Elon Musk has ignited speculation regarding the potential creation of a U.S. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) strategic reserve. This comes as Bitcoin&#8217;s value soars past the $100,000 mark, following the victory of <a href="https://www.benzinga.com/news/24/12/42256740/trump-taps-loyalist-patel-for-fbi-director-signaling-major-overhaul">President-elect Donald Trump</a>.
What Happened: According to a report Musk&#8217;s hints at a significant shift in the Bitcoin and crypto market have led traders and analysts to speculate on the possibility of a U.S. Bitcoin strategic reserve. 
Musk, who has emerged as&nbsp;an influential advisor to Trump&nbsp;after the election, is viewed as a crucial figure in the pro-cryptocurrency administration.
According to the report <a href="https://www.forbes.com/sites/digital-assets/2024/12/05/elon-musk-quietly-fuels-us-bitcoin-reserve-bets-as-price-breaks-100000/">by</a> Forbes, despite distancing himself from the sector following the 2021 bull run, Musk&#8217;s company, Tesla, continues to hold approximately 10,000 Bitcoin, valued at nearly $1 billion.
Cryptocurrency and financial markets analyst Richard Ptardio told the outlet, &#8220;With Bitcoin and crypto&#8217;s&nbsp;most famous cheerleader in Elon&nbsp;Musk at Trump&#8217;s&nbsp;side, we can expect the&nbsp;most pro-cryptocurrency administration to date.&#8221;
Also Read: <a href="https://www.benzinga.com/tech/24/11/42154872/musks-net-worth-tops-one-third-of-a-trillion-dollars">Musk&#8217;s Net Worth Tops One-Third of a Trillion Dollars</a>
As the price of Bitcoin crossed the $100,000 threshold, Musk commended El Salvador&#8217;s Bitcoin investment profits, further fueling speculation about the establishment of a U.S. Bitcoin strategic reserve.
However, many Bitcoin and crypto observers still consider&nbsp;the creation of a U.S.&nbsp;Bitcoin strategic reserve as unlikely, with the Polymarket prediction platform forecasting a 25% chance.
Why It Matters: The establishment of a U.S. Bitcoin strategic reserve could significantly impact the cryptocurrency market. It would not only legitimize Bitcoin as a strategic asset but also potentially stabilize its price. 
Musk&#8217;s influence in the Trump administration and his company&#8217;s significant Bitcoin holdings make his support for such a move noteworthy.
However, the skepticism among Bitcoin and crypto watchers indicates that the establishment of a U.S. Bitcoin strategic reserve is far from a done deal. 
The market will closely watch Musk&#8217;s actions and statements in the coming months.
Read Next
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OpenAI&#8216;s chatbot, ChatGPT, is gaining traction in the online search market, potentially challenging Google&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) <a href="https://www.benzinga.com/news/24/01/36709679/employees-slam-google-leaderships-vision-in-wake-of-layoffs-they-are-all-profoundly-boring-and-glass">long-established supremacy</a>.
What Happened: A survey conducted by brokerage firm Evercore ISI disclosed that ChatGPT was the favored&nbsp;search provider for 5% of&nbsp;1,000 respondents, a significant increase from 1% in June. Millennials were identified as the primary drivers of this uptake.
Despite the rise, Google still commands the majority of the search market, with 78% of respondents choosing it as their first preference, a slight decrease from 80% in June. 
Nonetheless, even a minor shift in market share is noteworthy in the online search industry, which is the foundation of Google&#8217;s ad business.
According to <a href="https://www.businessinsider.com/chatgpt-search-market-share-google-openai-2024-12">the</a> survey, ChatGPT&#8217;s modest gains suggest a potential shift in Google&#8217;s status as the internet&#8217;s main gatekeeper.
OpenAI&#8217;s generative AI technology is revolutionizing how millions access digital information, sparking debates&nbsp;about the sustainability of Google&#8217;s&nbsp;search dominance.
Also Read: <a href="https://www.benzinga.com/news/24/07/39763462/whistleblowers-accuse-openai-of-hindering-staff-from-reporting-ai-risks">Whistleblowers Accuse OpenAI Of Hindering Staff From Reporting AI Risks</a>
In October, OpenAI rolled out&nbsp;a full search feature for&nbsp;ChatGPT and also secured a partnership with Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), placing ChatGPT prominently on numerous iPhones. Both moves are perceived as direct challenges to Google.
Despite these advancements, Google remains significantly ahead, as indicated by positive results from Evercore&#8217;s survey. Google&#8217;s Gemini, a ChatGPT-like assistant, and&nbsp;AI Overviews, a feature that&nbsp;summarizes search results, were deemed more effective by 71% of Google users.
Why It Matters: The rise of ChatGPT signifies a potential shift in the online search landscape. Google&#8217;s dominance has been unchallenged for years, but OpenAI&#8217;s advancements suggest a new competitor is emerging. 
The partnership with Apple and the introduction of&nbsp;a full search feature for&nbsp;ChatGPT are strategic moves to increase its market share. 
However, it remains to be seen if ChatGPT can monetize search queries as effectively as Google, a factor critical to its success.
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

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President-elect Donald Trump will name ex-Sen. David Perdue (R-Ga.) as his choice for ambassador to China, a pivotal role <a href="https://www.benzinga.com/personal-finance/24/12/42367505/economists-warn-trumps-tariffs-on-canada-mexico-and-china-could-hurt-your-budget-more-than-help-it" target="_blank" rel="noreferrer noopener">in shaping the future of U.S.-China relations</a>.
Perdue, who served in the U.S. Senate from 2015 to 2021, is known for his strong stance on China, a position that has earned him the label of &#8220;anti-China&#8221; from Chinese think tanks, BBC <a target="_blank" href="https://www.bbc.com/news/articles/cj0rj0vl4n8o" rel="noreferrer noopener">reports</a>.
The selection places Perdue at the heart of one of the most critical foreign policy challenges for the United States, as tensions with China continue to escalate, particularly over trade and military influence.
Perdue&#8217;s career is a blend of business acumen and political service. Before entering politics, he held senior executive positions at major companies, including Reebok and Dollar General Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>), per <a href="https://www.britannica.com/biography/David-Perdue" target="_blank" rel="noreferrer noopener">Britannica</a>, where he became known for his successful turnarounds of struggling businesses.
His corporate background has been both praised by investors and criticized by political opponents, who argue that his methods favored shareholders over the well-being of employees.
Also Read: <a target="_blank" href="https://www.benzinga.com/24/12/42333675/fbi-warns-of-ongoing-china-backed-telecom-hacks-heres-how-encrypted-messaging-could-be-your-last-line-of-defense" rel="noreferrer noopener">FBI Warns Of Ongoing China-Backed Telecom Hacks: Here&#8217;s Why Encrypted Messaging Could Be Your Last Line Of Defense</a>
When he first ran for the Senate, Perdue presented himself as a businessman who could bring pragmatic solutions to Washington&#8217;s complex issues.
During his time in the Senate, Perdue was vocal about the growing threat posed by China. He advocated for a stronger U.S. military, particularly the Navy, to counter China&#8217;s increasing military presence in the region.
His views align with the broader &#8220;hawkish&#8221; approach of Trump&#8217;s foreign policy team, which has taken a hard line on China&#8217;s economic practices and military expansion.
In a September essay, Perdue described China&#8217;s government as a force seeking to undermine U.S. capitalism and democracy, framing the nation as a strategic adversary, CNN <a target="_blank" href="https://www.politico.com/news/2024/12/06/trumps-china-ambassador-bad-news-beijing-00193088" rel="noreferrer noopener">reports</a>.
The Trump administration has vowed to impose tough tariffs on Chinese imports, citing the longstanding trade imbalance between the two nations.
Perdue&#8217;s appointment as ambassador is expected to play a key role in managing this delicate and potentially volatile relationship, as the U.S. looks to navigate the complex dynamics of trade, security, and diplomacy with one of its biggest global rivals.
Perdue lost his Senate seat to Democrat Jon Ossoff in 2020 and later ran unsuccessfully for governor of Georgia in 2022, challenging incumbent Republican Gov. Brian Kemp in a primary that Kemp won easily.
During his gubernatorial campaign, he echoed Trump&#8217;s false claims of electoral fraud in the 2020 election.
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Photo: Wikimedia Commons

Trump Taps Perdue for China, Signaling More Tension with Beijing

Billionaire Elon Musk reportedly donated a whopping $277 million to support President-elect Donald Trump and other Republican candidates <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001426/trump-aims-to-make-us-crypto-capital-of-the-planet-well-get-it-done">in the 2024 elections</a>.
What Happened: Documents filed recently reveal that&nbsp;Musk&nbsp;has become the biggest financial supporter in the 2024 elections.
Musk contributed nearly&nbsp;$239 million to his personal&nbsp;super PAC, America PAC, which spent $154.5 million&nbsp;on canvassing efforts and digital&nbsp;ads to back Trump and counter Vice President Kamala Harris. 
As reported <a href="https://www.businessinsider.com/elon-musk-260-million-spending-trump-republican-party-2024-12">by</a> Business Insider, Musk&#8217;s contributions also aided GOP House candidates in 18 key districts, with over half of them securing victories.
The filings also showed that $40.5 million of Musk&#8217;s donations were directed towards America PAC&#8217;s contentious voter giveaways. 
Beyond America PAC, Musk solely financed&nbsp;a super PAC that ran&nbsp;ads juxtaposing Trump&#8217;s stance on abortion with&nbsp;that of the late liberal&nbsp;Supreme Court Justice Ruth Bader&nbsp;Ginsburg, through a $20.5 million donation.
Also Read: <a href="https://www.benzinga.com/markets/24/12/42257492/dr-doom-roubini-on-trumps-second-term-inflation-will-be-higher-growth-is-going-to-be-lower">&#8216;Dr. Doom&#8217; Roubini on Trump&#8217;s Second Term: &#8216;Inflation Will Be Higher, Growth Is Going To Be Lower&#8217;</a>
While the bulk of Musk&#8217;s political spending was channeled through&nbsp;America PAC and RBG PAC, he also made significant contributions to other groups during this election cycle. 
He donated $10 million&nbsp;to the Senate Leadership Fund,&nbsp;a super PAC associated with&nbsp;Senate Minority Leader Mitch McConnell,&nbsp;and over&nbsp;$2.3 million to Sentinel Action&nbsp;Fund.
Why It Matters: Musk&#8217;s substantial financial support for Trump and the GOP marks a significant shift in his political engagement. His contributions, the largest in the 2024 elections, have the potential to significantly influence the political landscape. 
The impact of his donations on the election results, particularly in the battleground districts, underscores the power of financial contributions in shaping political outcomes.
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Musk Kicked In More Than a Quarter-Billion Dollars To Trump and GOP

<a href="https://www.axios.com/2024/12/07/us-uae-microsoft-g42-ai-chips" title="https://www.axios.com/2024/12/07/us-uae-microsoft-g42-ai-chips">https://www.axios.com/2024/12/07/us-uae-microsoft-g42-ai-chips</a>

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The prices of cryptocurrencies have soared in 2024, specifically hitting huge gains and some hitting new all-time highs shortly after the<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41778425/bitcoins-all-time-high-a-groundbreaking-milestone-and-strong-post-election-rally-coming-ex"> 2024 presidential election.</a>
One of the hottest cryptocurrencies of late is XRP Token (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) from Ripple. Benzinga recently polled readers to see if XRP will keep up its strong gains in 2025 or if other big cryptocurrencies can outperform.
What Happened: The XRP Token is up 279% year-to-date and has smashed through new one-month and one-year highs in recent weeks, and could have more room to run to approach all-time highs set<a href="https://www.benzinga.com/24/11/42225289/heres-how-much-100-invested-in-xrp-token-today-will-be-worth-if-crypto-returns-to-all-time-highs"> back in 2018.</a>
With XRP ETFs filed and the belief that the new White House administration could be more pro-crypto and pending cases against Ripple could fade away, the cryptocurrency has climbed and many believe it could go higher.
Benzinga recently asked readers their thoughts on XRP versus other cryptocurrencies for 2025.
"Do you think any of these cryptos will outperform XRP in 2025?" Benzinga asked.
These were the results:
<ul>
<li>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>): 28%</li>
<li>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>): 15%</li>
<li>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>): 13%</li>
<li>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>): 10%</li>
<li>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>): 10%</li>
<li>Hedera (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/hbar/usd">HBAR</a>): 1%</li>
<li>None of the Above: 24%</li>
</ul>
Bitcoin won the poll with 28% of readers believing the leading cryptocurrency will outperform the other options in 2025.
Ranking second in the poll was None of the Above, which means 24% of readers think XRP will outperform the other six cryptocurrencies including Bitcoin in 2025.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42367065/exclusive-bitcoin-briefly-tops-100000-but-where-do-benzinga-readers-predict-it-will-finish-2024">EXCLUSIVE: Bitcoin Briefly Tops $100,000, But Where Do Benzinga Readers Predict It Will Finish 2024?</a>
Why It's Important: Two factors that could help predict which cryptocurrencies will outperform in 2025 are the current year-to-date returns and whether the coins have hit new all-time highs in the current bull run.
Here are the current prices and year-to-date returns:
<ul>
<li>Bitcoin: $99,758.18, +125.7%</li>
<li>Solana: $239.25, +129.7%</li>
<li>Dogecoin: $0.4369, +375.1%</li>
<li>Ethereum: $4,039.69, +71.3%</li>
<li>Shiba Inu: $0.00003095, +198.0%</li>
<li>Hedera: $0.2932, +238.4%</li>
<li>XRP: $2.39, +279.1%</li>
</ul>
The list above shows that Dogecoin performed the best among the cryptocurrencies in the poll, followed by XRP and Hedera. This means that one of those coins would be the top performer after a huge run-up in price in 2024.
Of the cryptocurrencies in the poll, Bitcoin and Solana are the only two that have reached new all-time highs in the past two weeks.
Here are the other cryptocurrencies and their all-time highs:
<ul>
<li>XRP: $3.84, May 2018</li>
<li>Dogecoin: $0.7376, May 2021</li>
<li>Ethereum: $4,891.70, November 2021</li>
<li>Shiba Inu: $0.00008845, October 2021</li>
<li>Hedera: $0.5701, September 2021</li>
</ul>
The majority of the cryptocurrencies that have not set new highs since the 2024 election had all-time highs hit during the bull run in 2021, with XRP the exception.
A <a href="https://www.benzinga.com/24/12/42348639/exclusive-investors-say-they-missed-out-on-xrp-opportunity-heres-what-percent-say-theyre-buying-on-pullbacks">recent Benzinga poll</a> found that 41% of readers were not interested in buying XRP, and 28% believed they missed out on the opportunity to buy cryptocurrency. The other respondents said they already bought XRP (19%) or were planning to buy XRP on a pullback (12%).
With 2025 less than one month away, it will be interesting to see which cryptocurrencies hit new highs and are top performers next year.
Read Next:
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</ul>
The study was conducted by Benzinga from Dec. 3 through Dec. 4, 2024, and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 131 adults.
Photo: Shutterstock

Exclusives

$DOGE

$ETH

$HBAR

$SOL

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Can Bitcoin, Ethereum, Dogecoin, Shiba Inu or Solana Beat XRP In 2025? Poll Says Yes, One Coin Stands Out

Anthony Scaramucci, former White House communications director, on Monday drew parallels between President-elect Donald Trump&#8217;s nomination of Kash Patel for FBI director and Matt Gaetz&#8216;s unsuccessful bid <a href="https://www.benzinga.com/politics/24/12/42278429/trump-fbi-pick-kash-patels-wealth-has-grown-from-trump-media-board-position-consulting-deal-and-trump-themed-childrens-books">for attorney general.&nbsp;</a>
The Details: Scaramucci told CNN's Anderson Cooper that Trump&#8217;s initial cabinet picks aim to please his MAGA base, but he likely has backup candidates if the initial nominations fail.&nbsp;
"He‘s doing that because he looks at his base and saying these [picks] are for you," Scaramucci said.&nbsp;
Scaramucci pointed to Trump's quick selection of Pam Bondi as a replacement candidate for attorney general after Gaetz withdrew, facing resistance from Senate Republicans and ongoing investigations into alleged misconduct.&nbsp;
"I think it‘s the same thing with Kash Patel. I don‘t think the expectation is that he‘s going to get through," he added, referring to Patel&#8217;s chances of confirmation.&nbsp;
Read Next: <a href="https://www.benzinga.com/24/12/42365711/fridays-top-5-trending-stocks-whats-going-on-with">Friday&#8217;s Top 5 Trending Stocks: What&#8217;s Going On With SoundHound AI, GameStop, Lululemon?</a>
Patel is a staunch Trump ally who has been vocal in his criticism of the &#8220;deep state&#8221; and has defended Trump through various investigations. Patel also<a href="https://www.benzinga.com/general/social-media/24/12/42262176/trump-media-djt-stock-surges-in-premarket-as-trump-taps-board-member-kash-patel-for-fbi-leadership"> serves on the board</a> of directors of Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) the parent company of Truth Social.&nbsp;
Trump Media CEO Devin Nunes recently congratulated Patel on Trump&#8217;s selection.&nbsp;
&#8220;An immensely talented lawyer and investigator with an unimpeachable devotion to our Constitution, Kash is a brilliant pick to serve as Director of the FBI,&#8221; Nunes said in a press release.
What's Next: Patel&#8217;s confirmation as FBI director could potentially occur in early 2025, following Senate Judiciary Committee confirmation hearings and a vote which would then be reported to the full Senate. The full U.S. Senate would consider the committee's nomination and hold a confirmation vote.&nbsp;
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Image: Shutterstock

Anthony Scaramucci Compares Trump's FBI Pick, Kash Patel, To Matt Gaetz

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