W World Corp (OTC:WWHC) Stock, Quote.Headers.trade-ideas

W World Corp

In a recent appearance at the New York Times DealBook Summit, Jeff Bezos, executive chair of Amazon Inc., revealed his simple yet effective strategy for the <a href="https://www.benzinga.com/news/24/06/39563534/jeff-bezos-reveals-the-one-secret-to-success-you-can-have-a-job-or-you-can-have-a-career-or">company&#8217;s ongoing success</a>.
What Happened: Bezos stressed the significance of concentrating&nbsp;on &#8220;a few things&#8221; to&nbsp;ensure the $2.32 trillion company remains on the right path. 
These crucial factors include pinpointing big ideas, implementing rigorous execution against these ideas, and fostering the next generation of leaders.
Bezos said there are three elements that can help anyone get ahead. "Big leaders have to identify big ideas. They have to enforce tough execution against those big ideas and they need to grow the next generation of leaders," he said at the summit and as quoted <a href="https://www.cnbc.com/2024/12/06/jeff-bezos-heres-my-simple-strategy-for-amazons-continued-success.html">by</a> CNBC.
Bezos, who relinquished his role as Amazon&#8217;s CEO in 2021, is currently aiding CEO Andy Jassy and the leadership team in preserving their success.
Also Read: <a href="https://www.benzinga.com/news/24/11/42154948/costco-founders-chat-with-bezos-over-coffee-helped-save-amazon">Costco Founder&#8217;s Chat With Bezos Over Coffee Helped Save Amazon</a>
Their main concentration is on artificial intelligence (AI),&nbsp;including Nova, Amazon&#8217;s generative AI&nbsp;model that was launched on Tuesday.
Bezos highlighted the vast potential of AI, stating,&nbsp;&#8220;We&#8217;re literally working on a&nbsp;thousand [AI] applications internally,&#8221; suggesting that AI has the capacity to enhance and infiltrate every aspect of life.
Why It Matters: Bezos&#8217; strategy for Amazon&#8217;s success is not only simple but also effective. By focusing on a few key areas, the company can ensure it stays on track and continues to grow. 
The emphasis on AI, in particular, shows that Amazon is looking to the future and is ready to innovate and adapt to new technologies. 
This forward-thinking approach is likely to play a crucial role in Amazon&#8217;s continued success and growth.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Here's How Jeff Bezos' Three Simple Steps Made Amazon a Giant

For many <a href="https://www.benzinga.com/real-estate/24/07/39655295/college-students-and-parents-are-opting-for-real-estate-investments-over-dorms-for-those-who-can-aff">college students</a>, moving into a dorm marks their first taste of independence. While some stick to essentials, others turn their dorm rooms into luxurious spaces with price tags rivaling tuition.
According to The New York Times, many students, particularly in the South, are hiring interior designers to transform their dormitories into <a href="https://www.benzinga.com/real-estate/24/09/41079711/disney-magic-meets-luxury-living-new-high-end-developments-hit-southeast">high-end living spaces</a>. At the University of Mississippi, where instate tuition is $9,400 annually, freshman Lesley Lachman partnered with an interior design company to create a stylish, modern dorm room for $3,000. Lachman's story highlights a larger trend: the rise of luxury dorm makeovers, with some students or their families spending upward of $10,000.
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This surge in dorm room spending aligns with an overall increase in what students invest in their college living essentials. The National Retail Federation reports that college students spent an average of $1,365 on back-to-college purchases this year – nearly double what was spent a decade ago. According to the Education Data Initiative, this is in addition to the average room and board costs, which amount to $12,640 annually at public colleges and $14,410 at private institutions. Over four years, this adds up to $52,700 for housing expenses alone.
With steep tuition and room and board costs, these designer dorm trends represent an even larger financial commitment for some families. The average student in the U.S. earns $37,330 annually, based on data from Talent.com. Spending thousands on dorm decor likely isn't a realistic option for <a href="https://www.benzinga.com/personal-finance/24/11/42250885/gen-zers-are-being-fired-just-months-after-getting-hired-employers-cite-lack-of-motivation-poor-communication-and-unprofessional-behavior">students working entry-level jobs</a> or paying their way.
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The options for dorm upgrades are extensive for those who can afford it. Interior designers like Eden Bowen Montgomery, founder of Essentials with Eden, create bespoke dorm interiors featuring custom cabinets, monogrammed bedding and luxury light fixtures. Montgomery, an Ole Miss alumna, charges approximately $10,000 per room for her services, which include full setup on move-in day.&nbsp;
According to The New York Times, this year, Montgomery had more than 200 dorm setups to do, which required the assistance of 25 seasonal employees since they had to get everything done on move-in day for each student.&nbsp;
In some cases, students have more elaborate requests. Designer Joyce Huston, cofounder of Decorilla in New York, worked with one client who wanted his dorm to resemble an Amazon rain forest.&nbsp;
"He wanted to have living walls, water features, everything," Huston told The New York Times. "After a lot of meetings, sharing ideas and setting expectations, we agreed on a gorgeous plan: We added some plants, a breathtaking mural and a funky hanging chair."
Trending: Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/1milsaved"> The percentage may shock you</a>.
While Huston's dorm design packages start at $549, they can rise significantly depending on the project scope.
Several factors have contributed to the rise of designer dorm rooms. The COVID-19 pandemic heightened students&#8217; desire for comfortable, personalized spaces, while social media platforms like <a href="https://www.benzinga.com/news/24/10/41287462/tiktok-cuts-hundreds-of-jobs-as-company-shifts-toward-ai-based-content-moderation-report">TikTok</a> have popularized dorm transformations. Viral videos showcasing before-and-after shots of elaborate setups inspire students to invest in creating a space they're proud to share online.
However, not everyone is splurging. Some students and their families are sticking to budget-friendly options. Angela Hogan, director of design at Ashton Woods Homes, told The New York Times that she recommends focusing on essentials like mattress pads, storage solutions and quality lighting for those looking to DIY their dorm decor.
Dorm room makeovers have become a booming industry. Designers like Montgomery report being booked months in advance, with some already taking reservations for 2025. Whether students opt for lavish designs or practical setups, one thing is clear: dorm living has evolved far beyond basic furniture and bare walls.
For families navigating these trends, the key may be balancing comfort and affordability as students transition into college.
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Personal Finance

Tuition's $9,400, But Some College Students Are Dropping $10,000 On Dorm Room Makeovers

On a recent episode of MSNBC&#8217;s All In, host Chris Hayes said that a Senate bill could potentially result in a $100 billion transfer from taxpayers to Bitcoin owners.
What Happened: The <a href="https://www.congress.gov/bill/118th-congress/senate-bill/4912/all-info">bill</a>, proposed by Sen. Cynthia Lummis (R-Wyo.), calls for the U.S. Treasury to acquire one million Bitcoins over a span of five years, with a holding period of at least 20 years.
Given the current Bitcoin trading price of $100,000, this acquisition would amount to $100 billion.
Hayes <a href="https://www.youtube.com/watch?v=qWANiC28M8o&amp;t=5s">drew</a> attention to the fact that Republican lawmakers have received substantial campaign contributions from cryptocurrency advocates, who are now looking to reap the benefits of their investment.
"They want a bailout – implicit or explicit – if the house of cards crashes down. To that end, after Republicans took back the Senate with the help of money from the crypto industry, they now have a plan to return the favor. And I want you to listen because no one is really talking about this, but the elements of the plot are just there in plain sight," he said during the show. 
This comes despite President-elect Donald Trump&#8216;s previous skepticism towards cryptocurrency, which he seems to have recently overcome.
Also Read: <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">Trump Aims To Make US &#8216;Crypto Capital Of The Planet&#8217;: &#8216;We&#8217;ll Get It Done&#8217;</a>
Hayes underscored the instability of cryptocurrency and highlighted the liquidity problems often faced by large-scale crypto holders. He criticized the proposed bill as a taxpayer-funded bailout for the crypto industry.
Hayes also mentioned David Sacks, who was named White House AI and crypto czar by Trump, as a significant holder of the asset. Hayes suggested that Sacks could play a crucial role in advancing the bill.
According to Hayes, the proposed Bitcoin Act would permit the government to sell a portion of its gold reserves to finance the Bitcoin purchase, which could potentially trigger a substantial increase in Bitcoin&#8217;s market value.
Why It Matters: This proposed bill, if passed, could significantly alter the landscape of cryptocurrency and its relationship with the government. 
It could potentially set a precedent for future legislation regarding cryptocurrencies, and could influence the way these digital assets are perceived and utilized. Furthermore, the potential sale of gold reserves could have a significant impact on the gold market and the overall economy. 
The bill&#8217;s outcome could have far-reaching implications, making it a matter of national interest.
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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.

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

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MSNBC's Hayes: Proposed Bill Could Transfer $100B From Taxpayers To Bitcoin Owners

New York's Cannabis Workforce Initiative (CWI) is playing a pivotal role in fostering social equity in the state's <a href="https://www.benzinga.com/markets/cannabis/24/09/41074122/new-york-legal-cannabis-sales-poised-to-reach-1b-following-crackdown-on-illicit-retailers">growing</a> cannabis market. Launched to offer workforce development and legal education, CWI aims to create opportunities for marginalized communities in the adult-use cannabis sector.
<h3 class="wp-block-heading">CWI's Certification Boosts Cannabis Job Readiness</h3>
In a recent <a href="https://www.newyorkupstate.com/marijuana/2024/12/cannabis-workforce-initiative-making-inroads-promoting-social-equity-in-nys-cannabis-industry.html">interview</a> with NY Up, Esta Bigler, director of Cornell University's Labor and Employment Law Program, detailed CWI's impact. Since its inception, the initiative has issued over 1,100 certificates through programs like the Cannabis Career Exploration and Worker Rights Certificate.&nbsp;
This 15-hour course offers an essential overview of <a href="http://benzinga.com/cannabis">cannabis industry</a> jobs, licensing and legal rights, preparing job seekers and potential licensees to navigate the market's complexities.
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<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</li>
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"Employers are now asking applicants, ‘Do you have the Cannabis Workforce Initiative Certificate?'" Bigler said, noting the certificate's growing recognition. She also emphasized the program's importance in fulfilling a critical need for industry <a href="https://www.benzinga.com/markets/cannabis/24/07/39983822/cannabis-educational-content-should-be-incorporated-into-curricula-at-all-levels-says-american-c">education</a>.
<h3 class="wp-block-heading">Partnering For Inclusion &amp; Diversity In Cannabis Workforce</h3>
One of CWI's key achievements is its outreach to diverse communities. Bigler shared that nearly 60% of certificate holders identify as people of color, including 31% Black and African American, 16% Hispanic or Latino and 9% multiracial.&nbsp;
"Our certificate holders are job seekers and employers. CWI's training is geared to meet the social equity goals of <a href="https://www.benzinga.com/markets/cannabis/23/10/35029612/corporate-behemoths-are-behind-lawsuits-hindering-new-yorks-cannabis-rollout-says-state-senator">MRTA</a>," she said.&nbsp;
The initiative is partnering with community-based organizations and educational institutions like NY state (SUNY) and city universities (CUNY) to reach underserved populations.
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<h3 class="wp-block-heading">Advocacy Groups Raise Concerns Over Equity Goals</h3>
However, despite CWI's progress, the program's success unfolds against a backdrop of growing concerns over New York's cannabis industry leadership. Advocacy groups, including the NAACP NY State Conference and the Drug Policy Alliance, recently urged Governor Kathy Hochul to <a href="https://www.benzinga.com/24/12/42314121/advocacy-groups-urge-governor-hochul-to-strengthen-leadership-at-new-yorks-office-of-cannabis-management">appoint a more qualified executive director</a> for the state's Office of Cannabis Management (OCM).
Their letter highlights delays and underfunding of equity programs that threaten to exclude justice-involved entrepreneurs and small businesses from the market. The groups argue that effective leadership at OCM is essential to maintaining equity and restoring confidence in <a href="http://benzinga.com/topic/new-york-cannabis">New York's</a> cannabis market.
As the industry grapples with these <a href="https://www.benzinga.com/markets/cannabis/24/09/40968887/new-yorks-beleaguered-cannabis-equity-officer-resigns-after-being-cleared-of-retaliation-claims">internal challenges</a>, its future, particularly in terms of social equity, remains uncertain.
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Cannabis

NY Certifies 1,100 Cannabis Workers Amid Equity Program Concerns

The stock of&nbsp;Rigetti Computing Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>) has hit a new 52-week high, reaching $3.67. This represents an impressive 237.14% increase over the past year, indicating a surge in investor confidence in the company&#8217;s future.
What Happened: According to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>, Rigetti Computing&#8217;s stock has been steadily climbing, with an average trading volume of 23 million shares over the past three months. 
The quantum computing firm has&nbsp;been garnering positive sentiment due to its ongoing innovation and strong position in the tech industry.
Rigetti recently raised&nbsp;<a href="https://www.benzinga.com/24/11/42170133/whats-going-on-with-rigetti-computing-shares">$100 million through a direct&nbsp;offering of 50 million shares</a>. The raised funds are earmarked&nbsp;for working capital and general&nbsp;corporate purposes.
Despite a dip in revenue and gross margins, Rigetti has&nbsp;announced significant advancements in quantum&nbsp;computing. The company has plans to launch&nbsp;a new 36-qubit system by&nbsp;mid-2025 and a system with&nbsp;over 100 qubits by the&nbsp;end of 2025.
Strategic collaborations with Riverlane and&nbsp;NVIDIA&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) form a crucial part of Rigetti&#8217;s plan&nbsp;for quantum error correction and&nbsp;hybrid computing. 
The company is&nbsp;also focusing on securing government&nbsp;contracts and is hopeful&nbsp;about the National Quantum (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QMCO#NASDAQ">QMCO</a>)&nbsp;Initiative Reauthorization Act.
Why It Matters: Rigetti&#8217;s stock performance reflects growing investor confidence in the company&#8217;s innovative capabilities and strategic partnerships. The company&#8217;s recent fundraising and plans for quantum computing advancements signal a strong commitment to maintaining a competitive edge in the tech landscape. 
Furthermore, Rigetti&#8217;s focus on securing government contracts could potentially open up new avenues for growth and revenue. 
The company&#8217;s optimism about the National Quantum Initiative Reauthorization Act also indicates its readiness to leverage legislative developments to its advantage.
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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QMCO

RGTI

Rigetti Computing Skyrockets To Record High As Investor Confidence Soars

Many young Americans aspire to purchase a home. Financial expert <a href="https://www.benzinga.com/personal-finance/24/12/42257280/everyone-else-is-getting-rich-with-your-money-says-dave-ramsey-this-is-not-an-accident">Dave Ramsey</a> and co-host George Kamel recently spoke to 23-year-old Jared from Oklahoma City, OK, about his aspirations for home ownership. While they were impressed by his work ethic and savings, Ramsey pointed out that he was missing one crucial step: establishing a solid emergency fund.&nbsp;
Jared is single and does "nothing but work" at his pest control job, making about $70,000 a year. He told the Ramsey Show hosts he'll have a 20% down payment for a $150,000-$200,000 home saved by mid-January. And while he doesn't have any debt, he did admit that he doesn't have an <a href="https://www.benzinga.com/personal-finance/24/07/39613246/is-your-emergency-fund-ahead-of-the-curve-the-savings-needed-to-be-in-the-top-5-for-your-age-gro">emergency fund</a>.&nbsp;
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Ramsey applauded Jared's efforts but stressed that an emergency fund is an absolute must when purchasing a home. "You don't move into a house without an emergency fund," Ramsey said. "‘Cause houses are an emergency looking for a place to happen."
Ramsey illustrated the reality of home ownership: unexpected repairs and maintenance costs will always arise. He and Kamel advised Jared to save three to six months' living expenses in an emergency fund before finalizing a home purchase.&nbsp;
"Which means now you're looking at March," Ramsey stated, instead of Jared's initial goal of purchasing in January.&nbsp;
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Jared's goal of a 20% down payment aligns with Ramsey's typical advice when purchasing a home – especially because it allows him to avoid private mortgage insurance (PMI), a monthly fee required for loans with smaller down payments. With a $150,000 to $200,000 home, Jared would save thousands over the life of the loan by meeting this threshold.&nbsp;
Kamel and Ramsey also told Jared to stick to a <a href="https://www.benzinga.com/personal-finance/24/06/39169280/dave-ramsey-says-smart-people-dont-take-out-30-year-mortgages-if-you-cant-afford-a-home-on-a-15-">15-year-fixed mortgage</a> rather than a 30-year loan. "A paid-off home mortgage is one of the keys to being a Baby Steps millionaire," Ramsey said, referring to his widely followed seven-step financial plan.
In addition to financial preparation, Ramsey advised Jared to avoid purchasing a fixer-upper or a home with unique features that could make it harder to resell. "Buy something that&#8217;s easy to resell, which means it&#8217;s kinda boring," he said, noting that such homes tend to appreciate steadily over time.
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George Kamel shared a personal example, recounting how his first home – a modest three-bedroom townhome – appreciated significantly during his three years of ownership.
Jared's location in Oklahoma City puts him in a housing market that remains competitive but relatively affordable compared to national averages. According to Redfin, the median home price in Oklahoma was $244,400 in October 2024, a 3.4% increase from the previous year. Homes typically spend about 40 days on the market and sales activity has risen by 4.6% year-over-year.
These market dynamics suggest that Jared could find opportunities to purchase a home within his price range, especially if he avoids properties that need extensive work.
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Real Estate

Dave Ramsey Warns 23-Year-Old Homebuyer: Don't Skip This Critical Step Before Buying Your First House

Elon Musk has publicly expressed his agreement with DOGE advisor Ron Paul&#8216;s proposal to completely end foreign aid, emphasizing its relevance in the current economic climate.
What Happened: On Saturday Musk replied to a post on X about Paul&#8217;s proposal of the total elimination of foreign aid. Paul argues that it takes money from the poor and middle class in the U.S. and gives it to the wealthy in impoverished nations, with a portion going to intermediaries.
Musk, in his retweet, simply stated, &#8220;Ron is not wrong.&#8221; This brief endorsement indicates his support for Paul&#8217;s stance on the issue.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Ron is not wrong <a href="https://t.co/WYhYclMyJ0">https://t.co/WYhYclMyJ0</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1865310578140487790?ref_src=twsrc%5Etfw">December 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Earlier on Saturday, Paul called for an end to foreign aid, citing both its economic and moral consequences.
In a post on X, he criticized the transfer of funds from American taxpayers to wealthy individuals in less developed countries.
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He argued that foreign aid disproportionately impacts the U.S. poor and middle class, funneling their money to affluent entities overseas while benefiting intermediaries along the way. 
<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">Here's an easy one for <a href="https://twitter.com/DOGE?ref_src=twsrc%5Etfw">@DOGE</a> ! ELIMINATE foreign aid! It's taking money from the poor and middle class in the US and giving it to the rich in poor countries &#8211; with a cut to the facilitators in between! Americans don't want their government to borrow more money to spend on… <a href="https://t.co/hbjfUNGWGW">pic.twitter.com/hbjfUNGWGW</a>
&mdash; Ron Paul (@RonPaul) <a href="https://twitter.com/RonPaul/status/1865137982434415016?ref_src=twsrc%5Etfw">December 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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He described the practice as economically harmful, morally indefensible, and unconstitutional.
Why It Matters: Musk&#8217;s agreement with Paul&#8217;s viewpoint is significant given his influence in the tech and business world. His endorsement could potentially sway public opinion and impact discussions around foreign aid policies.
Paul&#8217;s proposal and Musk&#8217;s support come at a time when debates around wealth distribution, both domestically and internationally, are increasingly prevalent. 
The suggestion to end foreign aid entirely is a radical one, and it remains to be seen how this will influence policy discussions going forward.
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Elon Musk Echoes Ron Paul on Foreign Aid as an 'Immoral Transfer of Wealth'

In a recent post on LinkedIn, self-made billionaire Ray Dalio shared his straightforward three-step strategy for achieving success.
What Happened: Dalio,&nbsp;the founder and ex-CEO of&nbsp;Bridgewater Associates, has outlined his approach to success. His advice begins with identifying one&#8217;s desires, followed by devising a practical plan to reach these goals, and finally, pursuing the chosen path with steadfast determination.
In the <a href="https://www.linkedin.com/posts/raydalio_principleoftheday-activity-7269362952154013696-d59r/">post</a>, Dalio underscores the significance of setting realistic expectations for success.&nbsp;&#8220;People who achieve success and&nbsp;drive progress deeply understand the&nbsp;cause-effect relationships that govern reality&nbsp;and have principles for using&nbsp;them to get what they&nbsp;want,&#8221; he wrote.
He further highlighted that success doesn&#8217;t have a universal definition.&nbsp;&#8220;I don't care whether you want to be a master of the universe, a couch potato, or anything else—I really don't. Some people want to change&nbsp;the world and others want&nbsp;to operate in simple harmony&nbsp;with it and savor life.&nbsp;Neither is better. Each of&nbsp;us needs to decide what&nbsp;we value most and choose&nbsp;the paths we take to&nbsp;achieve it,&#8221; Dalio stated.
Also Read: <a href="https://www.benzinga.com/news/24/12/42257531/heres-how-ray-dalio-thinks-trumps-second-term-could-reshape-the-us-and-the-world">Here&#8217;s How Ray Dalio Thinks Trump&#8217;s Second Term Could Reshape the US and the World</a>
Why It Matters: Dalio&#8217;s advice comes from his own experience of building Bridgewater Associates into the world&#8217;s largest hedge fund. 
His emphasis on setting realistic goals and pursuing them with determination reflects the principles that guided his own journey to success. 
His perspective on success as a personal and variable concept underscores the importance of individual values and goals in the pursuit of achievement. 
This advice could serve as a valuable guide for those seeking to carve their own path to success.
Read Next
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This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Image: Flickr

Ray Dalio Reveals His Three-Step Strategy For Success

In a shocking security breach, a woman was recently able to board a transatlantic Delta Air Lines flight without a ticket or passport, court documents reveal.
What Happened: Svetlana Dali has been charged with being a stowaway on an aircraft, a crime that could lead to a five-year prison sentence if she is found guilty.
The incident took place on November 26, when Dali allegedly bypassed security&nbsp;at John F. Kennedy International&nbsp;Airport&#8217;s Terminal 4 via a special lane designated for airline staff.
Despite being initially denied entry due to the absence of a boarding pass, Dali made another attempt just five minutes later and succeeded. 
As per report <a href="https://www.businessinsider.com/delta-stowaway-evaded-security-no-boarding-pass-passport-flight-paris-2024-12">by</a> Business Insider, she managed to board Delta Air Lines Flight DL264 without showing a boarding pass. Her presence was only detected before the aircraft landed at Charles de Gaulle Airport in Paris.
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Upon arrival, Dali was apprehended by French authorities. During an interview with an FBI agent, she confessed that she deliberately evaded TSA and Delta staff. Michael Schneider, Dali&#8217;s attorney, compared the charge to &#8220;theft of services or jumping a turnstile.&#8221;
In response to the incident, Delta expressed gratitude to&nbsp;French and US authorities for&nbsp;their support and assured that the incident was due to a &#8220;deviation from standard procedures,&#8221; and not a defect in their security infrastructure.
Why It Matters: This incident raises serious concerns about airport security measures and procedures. Despite the stringent security protocols in place, Dali&#8217;s successful evasion highlights potential vulnerabilities that could be exploited by individuals with malicious intent. 
This breach could prompt a review and possible overhaul of security procedures at airports, particularly at Delta Air Lines. 
Furthermore, the incident could potentially impact Delta&#8217;s reputation and customer trust, which are critical for any airline&#8217;s success.
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Travel

Woman Slipped Through JFK Security and Boarded Paris-Bound Flight Without Ticket or Passport

A whopping 60.9 billion Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) has been transacted in the past 24 hours, hinting at a possible bullish trend for the meme cryptocurrency. 
What Happened: <a href="https://app.intotheblock.com/coin/DOGE/deep-dive?group=financials&amp;chart=largeTransactions">Data</a> from IntoTheBlock reveals that the large transaction volume of Dogecoin has surged by 40.1% in the last 24 hours, totaling $23 billion or 60.9 billion DOGE.
Large transactions, which are those exceeding $100,000, are usually a sign of intense buying or selling pressure. This surge aligns with a significant increase in DOGE&#8217;s price. This sudden spike in transaction volume may be indicative of rising investor confidence.
At the time of writing, DOGE is valued at $0.4614, marking a 2% increase&nbsp;in the last 24 hours.&nbsp;This rise has propelled&nbsp;weekly and monthly gains to&nbsp;5.66% and 137.8% respectively, hinting that Dogecoin might be on the brink of a price surge.
Also Read:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42152520/dogecoin-whales-move-214-5m-in-a-single-day-sparking-speculation" target="_blank" rel="noreferrer noopener">Dogecoin Whales Move $214.5M In A Single Day, Sparking Speculation</a>
The surge in volume could lure short-term traders to wager on Dogecoin, possibly leading to an additional increase in market activity and averting a steep sell-off.
Last week the meme coin witnessed a substantial increase in trading volume, indicating a potential major price upswing.
Dogecoin's trading volume soared by 76.71%. This surge in momentum was supported by considerable whale activity, including a recent transfer of $120 million DOGE to an unidentified wallet.
Why It Matters: Historically, Dogecoin has demonstrated robust performance in December. For instance, DOGE posted a remarkable&nbsp;337.5% gain in December 2017&nbsp;and a more moderate rally&nbsp;of 32.4% in 2020. 
Last&nbsp;year, DOGE&#8217;s&nbsp;price grew moderately by 7.01%.&nbsp;This trend&nbsp;positions DOGE as a cryptocurrency&nbsp;to keep an eye on this holiday season.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40429878/dogecoins-active-users-on-the-rise-will-this-impact-doge-price" target="_blank" rel="noreferrer noopener">Dogecoin&#8217;s Active Users On The Rise, Will This Impact DOGE Price?</a>
Image: Shutterstock

$DOGE

Dogecoin's Whopping 60.9B Movement In 24 Hours: A Bullish Sign?

Tapeworms don't just cause discomfort; they drain their host of vital nutrients, leaving them weaker by the day. In <a href="https://www.benzinga.com/personal-finance/24/11/41818744/warren-buffett-bought-a-1-7-billion-business-over-the-phone-without-meeting-founder-by-using-wha">Warren Buffett's eyes</a>, that's exactly what rising health care costs are doing to the U.S. economy. And despite years of debate and failed solutions, this tapeworm hasn't gone anywhere – it has only become more insidious.
Buffett, the legendary investor and CEO of Berkshire Hathaway, has long criticized the U.S. health care system. He famously called medical costs "the tapeworm of American economic competitiveness." He first made this remark during a CNBC interview on March 1, 2010, highlighting how escalating health care expenses undermine the nation's economic strength.
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Buffett's concerns stem from the outsize portion of the U.S.&#8217;s GDP dedicated to health care. He pointed out that the U.S. was spending about 17% of its GDP on health care – nearly double the 9% average of other developed countries. This imbalance, he argued, puts American businesses at a significant competitive disadvantage globally.
More than a decade later, the problem hasn't improved. In fact, it has worsened. Recent data shows health care spending has risen to 17.3% of GDP as of 2022, with projections suggesting it could climb to nearly 20% by 2032.
According to a CMS report, U.S. health care spending surged to $4.8 trillion, marking a 7.5% increase that outpaced the GDP growth rate of 6.1%.
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Why does this matter? Because runaway costs aren't just bad for balance sheets – they're undermining American businesses and workers at every level. Companies footing the bill for employee health insurance face rising operational expenses, which eat into profits and limit their ability to compete globally. Many employers are forced to make hard choices: reduce hiring, suppress wages or pass the costs to consumers.
Let's not forget workers themselves. Rising premiums and out-of-pocket expenses are chipping away at take-home pay, leaving families with less disposable income. That's not just a strain on household budgets – it's a drag on the broader economy as workers have less money to spend on groceries, vacations etc.
Buffett has also pointed to the inefficiencies baked into the system. The fee-for-service model rewards quantity over quality and incentivizes unnecessary procedures and treatments. That's why health care<a href="https://www.benzinga.com/personal-finance/24/08/40624190/aon-predicts-9-increase-in-employer-health-care-costs-for-2025-heres-whats-fueling-the-spike"> costs continue to climb</a>, even though patient outcomes aren't improving meaningfully. It's a vicious cycle and so far, no one has been able to break it.&nbsp;
Trending: Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/1milsaved"> The percentage may shock you</a>.
Not that Buffett hasn't tried. In 2018, Berkshire Hathaway joined forces with Amazon and JPMorgan Chase to create Haven, a health care venture that promised to tackle rising costs and inefficiencies. By 2021, however, the initiative had quietly folded. Reflecting on its failure during the Berkshire Hathaway annual shareholders' meeting, Buffett admitted, "We were fighting a tapeworm in the American economy and the tapeworm won."
The bluntness of that statement says it all. Fixing the U.S. health care system isn't just a challenge – it's an arduous task. For now, the tapeworm continues to feed, siphoning off resources that could be used to grow businesses, raise wages and invest in innovation.&nbsp;
Buffett's longtime partner, the late Charlie Munger, didn't hesitate to share his <a href="https://www.benzinga.com/personal-finance/24/08/40150567/charlie-munger-called-healthcare-industry-deeply-immoral-and-a-disgrace-claiming-providers-artif">critique of the U.S. health care system</a>. In a 2018 interview on Squawk Box, Munger called the system "shot through with rampant waste" and even went as far as to label it "deeply immoral."
Buffett&#8217;s warning isn't just a clever metaphor … it's a wake-up call. The question is whether policymakers and industry leaders will finally answer it or let the tapeworm keep winning.
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Warren Buffett Says Medical Costs Are 'The Tapeworm' Of The U.S. Economy – And Warns 'The Tapeworm Won the Fight

<a href="https://www.globenewswire.com/Tracker?data=JVBMMtZvBfvr9UskpcK78_LnNB-8CzsRgabrfEwrU9KKcwDuJxU-i7TNDhk61TNcuoO8j08_cJdKLt8wGKxpOpb_8ZYsWVpJngQXi19ypjw=">Cogent Biosciences, Inc.</a>&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COGT#NASDAQ">COGT</a>), a biotechnology company focused on developing precision therapies for genetically defined diseases, today reported positive updated data from Part 1 of the Company's ongoing Phase 2 APEX clinical trial evaluating bezuclastinib in patients with advanced systemic mastocytosis (AdvSM) at the 66th American Society of Hematology (ASH 2024) Annual Meeting &amp; Exposition taking place December 7-10, 2024 in San Diego, CA.
52% ORR per mIWG criteria, including 83% ORR for patients receiving 100 mg BID
88% ORR per PPR criteria, including 100% ORR for patients receiving 100 mg BID
Median time to response 2.2 months with median duration of response and median PFS not yet reached
Top-line data from APEX Part 2 on-track for mid-2025
Cogent to host investor webcast on Monday, December 9 at 8:00 a.m. ET

COGT

Cogent Biosciences At ASH, Announced Updated Data From Ongoing Phase 2 APEX Trial Evaluating Bezuclastinib In Patients With Advanced Systemic Mastocytosis; Reported 52% ORR Per mIWG Criteria, Including 83% ORR For Patients Receiving 100 MG BID

Affimed N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFMD#NASDAQ">AFMD</a>), a clinical-stage immuno-oncology company committed to giving patients back their innate ability to fight cancer, today announced the presentation of data in a poster session at the 66th ASH Annual Meeting and Exposition. The dataset includes 22 patients from the run-in phase of the LuminICE-203 (AFM13-203) phase 2 open-label, multicenter, multi-cohort study. The trial evaluates the safety and efficacy of the combination of acimtamig (AFM13) with Artiva Biotherapeutics' allogeneic NK cell AlloNK&#xAE; in patients with R/R cHL.
Acimtamig in combination with AlloNK&#xAE; demonstrated a high overall response rate (ORR) of 86% with complete response (CR) of 55%. All patients in the study were heavily pretreated with a median of 5 (range: 2-13) prior therapies. All patients had received intensive combination chemotherapy, PD(L)1 checkpoint inhibitors and brentuximab vedotin. In addition, about two third of the patients had also received a previous stem cell transplant. The combination regimen exhibited a well-managed safety profile with no unexpected safety signals. Importantly, no cases of graft-versus-host disease (GvHD) or immune effector cell-associated neurotoxicity syndrome (ICANS) were reported.

AFMD

Affimed Announced at ASH Meeting, Combination Of Acimtamig With AlloNK Demonstrated An Overall Response Rate Of 86%;  Complete Response Of 55% In 22 Heavily Pretreated Patients With Relapsed/Refractory Classical Hodgkin Lymphoma Who Have Exhausted All Standard Of Care Treatments

Bitcoin ETFs have now accumulated more Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) than the holdings of Bitcoin&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41869087/kiyosaki-aims-to-own-100-bitcoins-by-2025-i-wish-bitcoin-was-back-to-10-a-coin-but-wishing-has-never-made-poor-people-richer">pseudonymous creator Satoshi Nakamoto</a>.
What Happened: As of market close on Thursday, these&nbsp;ETFs collectively held 1,105,690 Bitcoin, valued at $110 billion, as per CoinGlass <a href="https://www.coinglass.com/bitcoin-etf">data</a>. This milestone was reached&nbsp;by 10 asset managers in&nbsp;the U.S., who began trading these products on January 11. The only exception was Grayscale&#8217;s Bitcoin Mini Trust.
Nakamoto, who vanished from the&nbsp;public eye in 2011, is estimated to have mined up to&nbsp;1.1 million Bitcoin in the&nbsp;project&#8217;s initial seven months. 
The recent surpassing of Nakamoto&#8217;s holdings by Bitcoin ETFs marks a significant moment in the asset&#8217;s history.
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In a post on X, Bloomberg ETF analyst Eric Balchunas described this development as &#8220;mind-blowing&#8221;, highlighting that these products achieved this feat in less than a year. Balchunas had previously projected that these Wall Street products could surpass Nakamoto&#8217;s holdings by Christmas.
<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">KING OF THE HILL: The US spot ETFs have just passed Satoshi in total bitcoin held, now hold more than 1.1m, more than anyone in the world, and they&#39;re not even a year old yet, literally babies still. Mind blowing. h/t <a href="https://twitter.com/EdmondsonShaun?ref_src=twsrc%5Etfw">@EdmondsonShaun</a> for the data <a href="https://t.co/FQBIGGz5ei">pic.twitter.com/FQBIGGz5ei</a>
&mdash; Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1865012801997087105?ref_src=twsrc%5Etfw">December 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
BlackRock, the world&#8217;s largest asset manager, has been a significant player in this burgeoning market. Its iShares Bitcoin Trust (IBIT) alone holds 521,000 Bitcoin, worth $50 billion.
Why It Matters: Bitcoin ETFs&#8217; surpassing of Nakamoto&#8217;s holdings underscores the rapid growth and acceptance of these products in the financial market. This development also signifies the increasing institutional interest in Bitcoin and other cryptocurrencies, marking a shift from traditional investment avenues.
BlackRock&#8217;s dominant role in this market further emphasizes the growing acceptance of Bitcoin ETFs by major financial institutions. The rapid accumulation of Bitcoin by these ETFs could potentially influence the digital currency&#8217;s price and overall market dynamics.
With Bitcoin ETFs achieving this milestone in less than a year, it remains to be seen how this market will evolve and what impact it will have on the broader cryptocurrency landscape.
Read Next
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$BTC

Bitcoin ETFs Have Outstripped Satoshi Nakamoto's Holdings

Results from the AMPLIFY Phase III trial showed AstraZeneca's Calquence (acalabrutinib) in combination with venetoclax&nbsp;demonstrated a statistically significant and clinically meaningful improvement in progression-free survival (PFS) compared to standard-of-care chemoimmunotherapy in previously untreated adult patients with chronic lymphocytic leukaemia (CLL).
These results will be presented at the American Society of Hematology (ASH) 2024 Annual Meeting in San Diego, CA.
At a median follow up of 41 months, results showed Calquence plus venetoclax reduced the risk of disease progression or death by 35% compared to standard-of-care chemoimmunotherapy (hazard ratio [HR] 0.65; 95% confidence interval [CI] 0.49-0.87; p=0.0038). Calquence plus venetoclax with obinutuzumab demonstrated a 58% reduction in the risk of disease progression or death compared to standard-of-care chemoimmunotherapy (HR 0.42; 95% CI 0.30-0.59; p&lt;0.0001). Median PFS was not reached for either experimental arm versus median PFS of 47.6 months for chemoimmunotherapy.

AstraZeneca Announced Fixed-duration Calquence Plus Venetoclax Demonstrated Superior PFS Vs. Standard Of Care In Previously Untreated CLL, With 77% Of Patients Progression Free At Three Years In AMPLIFY Phase III Trial At ASH Meeting

Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) today announced data from&nbsp;the Phase 3 AQUILA study showing that DARZALEX FASPRO&#xAE; (daratumumab and hyaluronidase-fihj) significantly delayed progression from high-risk smoldering multiple myeloma (SMM) to active multiple myeloma (MM) and extended overall survival compared to the current standard of care of active monitoring.&nbsp;The data were presented for the first time as an oral presentation at the 2024 American Society of Hematology (ASH) Annual Meeting (<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4320032-1&amp;h=2380629267&amp;u=https%3A%2F%2Fash.confex.com%2Fash%2F2024%2Fwebprogram%2FPaper201057.html&amp;a=Abstract+%23773">Abstract #773</a>), as part of the Press Program and were selected for the Best of ASH session.&nbsp;
In the AQUILA study, 194 patients received DARZALEX FASPRO&#xAE; and 196 patients were actively monitored per current standard of care treatment for high-risk SMM. At a median follow-up of 65.2 (range, 0-76.6) months, patients who received DARZALEX FASPRO&#xAE; showed statistically significant improved progression-free survival (PFS; defined as progression to active MM as assessed according to International Myeloma working Group (IMWG) diagnostic criteria for MM [SLiM-CRAB] or death) than the active monitoring group; 63.1 percent versus 40.8 percent of patients remained progression-free at 60 months (hazard ratio [HR], 0.49; 95 percent confidence interval [CI], 0.36-0.67; P&lt;0.001). Among patients who were retrospectively categorized as having high-risk SMM per the current Mayo 2018 criteria (20/2/20), median progression-free survival was not reached in the DARZALEX FASPRO&#xAE; arm and was 22.1 months in the active monitoring arm (HR, 0.36; 95 percent CI, 0.23-0.58). Overall survival was also extended with DARZALEX FASPRO&#xAE;, with 5-year survival rates of 93 percent versus 86.9 percent for active monitoring (HR, 0.52; 95 percent CI, 0.27-0.98).1

Johnson & Johnson Announced Darzalex Faspro Shows Significantly Delayed Progression To Active Multiple Myeloma For Patients With High-risk Smoldering Multiple Myeloma At ASH

<a href="https://www.wsj.com/business/media/advertising-firms-omnicom-and-interpublic-nearing-merger-that-would-reshape-industry-a2dd2286" title="https://www.wsj.com/business/media/advertising-firms-omnicom-and-interpublic-nearing-merger-that-would-reshape-industry-a2dd2286">https://www.wsj.com/business/media/advertising-firms-omnicom-and-interpublic-nearing-merger-that-would-reshape-industry-a2dd2286</a>

The Wall Street Journal Reported Sunday, Omnicom In Advanced Talks To Merge With Interpublic; Deal Could Value Interpublic At $13B-$14B

The advisory landscape is undergoing a fundamental transformation that demands immediate action <a href="https://www.benzinga.com/personal-finance/financial-advisors/24/12/42258875/how-to-bridge-the-financial-product-knowledge-gap-drive-business">from financial advisors. </a>
While firms like Creative Planning have achieved remarkable $16 billion valuations, traditional business models face mounting challenges that require strategic adaptation, Financial Advisor Magazine <a href="https://www.fa-mag.com/news/business-models-of-the-future-80442.html">argues</a> in a new article.
Client retention, long considered a strength of advisory firms, may be more precarious than assumed. Research from CEG Insights and J.D. Power suggests that current retention rates stem more from bull market conditions and client inertia than genuine loyalty. This vulnerability is compounded by the impending generational wealth transfer, with 41% of advisors viewing inheritance-related asset shifts as an existential threat.
Forward-thinking advisors must pivot toward serving younger, high-earning clients in their 30s who seek fundamentally different services. These emerging affluent clients require guidance on compensation negotiations, stock options, debt management, and business development. While potentially less profitable initially, establishing relationships with this demographic now positions advisors for substantial recurring revenue growth in the coming decades.
The market is evolving toward specialized service models based on client net worth and specific needs. Ultra-affluent clients ($25M+) demand comprehensive family office services, while the &#8220;merely affluent&#8221; ($5M-$25M) prefer à la carte offerings. Successful firms will need to choose their focus area, whether it&#8217;s building 401(k) platforms with wealth management capabilities, specializing in specific professions, or serving the broader middle class.
Healthcare planning has emerged as a critical service area, with 68% of ultra-high-net-worth investors identifying it as a primary concern. Advisors must forge strategic partnerships with healthcare professionals to deliver concierge medicine services. Additionally, entrepreneurial clients increasingly seek advisors who can assist not just with wealth management but wealth creation, requiring expertise in startup management, business valuation, and succession planning.
The key message for advisors is clear: the era of being all things to all people is ending. Success in 2035 and beyond will require selecting a specific focus area, developing deep expertise, and delivering demonstrably superior value in that niche. Advisors must begin this transformation now to remain relevant and competitive in the evolving advisory landscape.
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Photo: Shutterstock

Financial Advisors

Set Your Advisory Business Up For Success In 2025

When Mark Cuban was asked about his favorite <a href="https://www.benzinga.com/startups/24/11/41869153/mark-cuban-reveals-regrettable-shark-tank-deal-that-drives-him-crazy-was-a-chocolate-covered-pretzel-company-who-offered-free-shipping">Shark Tank investment</a> during an interview on Good Morning America, he didn't hesitate: DUDE Wipes. In an Instagram reel posted in October, Cuban joked, "We all gotta wipe, right?" He added, "Everything's a potty joke to them. Business is great. They're killing it. They're gonna do one-hundred-plus million dollars this year. So wipe early, wipe often."
<a href="https://www.instagram.com/reel/DBJXztgC5jf">https://www.instagram.com/reel/DBJXztgC5jf</a>
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That offbeat humor is at the core of DUDE Wipes' success. Launched in 2011 by childhood friends from the Chicago suburbs – Sean Riley, Ryan Meegan and Jeffrey Klimkowski – the company has gone from a quirky idea to a serious disrupter in the $11 billion toilet paper industry. In 2023 alone, the brand raked in $110 million in revenue, up from $70 million the year before and now holds a 1% market share in a space dominated by giants like Kimberly-Clark and Procter &amp; Gamble.
The concept of DUDE Wipes started as a simple hack: Riley stocked their shared apartment bathroom with baby wipes. The roommates realized that while traditional toilet paper wasn't cutting it, baby wipes, let alone men, weren't marketed for adults.
From that lightbulb moment, they sketched their prototype, pooled together $30,000 in savings and ordered their first batch of wipes. With just $5,000 left for marketing, they began handing out samples at college campuses, music festivals and fraternity houses.
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"We didn't have any money for marketing, but we had a product," Riley explained.
DUDE Wipes got its <a href="https://www.benzinga.com/startups/24/10/41381749/shark-tanks-oleary-on-tough-love-fiancee-is-easier-to-replace-than-a-thriving-business">big break on Shark Tank</a> in 2015. With their bold pitch – telling <a href="https://www.benzinga.com/personal-finance/24/11/42248381/mark-cuban-insists-credit-cards-are-not-your-friend-and-proposes-taking-out-a-personal-loan-for-expenses-instead-is-this-a-smart-move">Mark Cuban</a> that his "a&#x2A;&#x2A; hates him" for using dry toilet paper – they secured a $300,000 investment for 25% of the company. Cuban's investment remains the only outside funding they've ever taken.
Fast forward to today and DUDE Wipes is now a staple in over 20,000 stores, including Walmart, Target and Kroger. This year, they expanded to Sam's Club and Costco. They've also doubled down on irreverent marketing, including Super Bowl billboards poking fun at pop culture figures like Taylor Swift ("It's me. Hi. I'm the solution. It's me. Not TP.") and Travis Kelce ("We love a clean tight end, too.").
"They created a culture and community around the product that is fun," Cuban said, according to a May Forbes article.
DUDE Wipes doesn't just rely on potty humor – it also relies on smart strategy. Despite their rapid growth, the founders have kept their operations lean, with just over 20 employees. They outsource manufacturing to an Arkansas facility shared with their competitors and they've stayed laser-focused on their core product, shelving plans for DUDE-themed deodorants and body washes.
Trending: Studies show 50% of consumers think Financial Advisors cost much more than they do —<a href="https://www.benzinga.com/money/money-pickle"> to debunk this, this company provides matching for free and a complimentary first call with the matched advisor.</a>
This simplicity has allowed them to scale profitably. The company, profitable since 2016, projects $500 million in annual sales within the next five years. "We were absolutely insane to go from $0 to $100 million," Klimkowski said in the Forbes article. "Based on the new distribution alone, we'll get to $500 million."
Despite the male-centric branding, about 50% of DUDE Wipes' customers are women, who say the product simply cleans better than traditional toilet paper.
"It's a simple and cheap product built around a fairly radical concept," Meegan said. "Toilet paper doesn't fully get the job done."
So, what's next for DUDE Wipes?
With ambitious goals of reaching $1 billion in annual sales, the founders know that increasing household adoption is the next big challenge. For now, they're focused on expanding into new markets, introducing the brand to more consumers and continuing to embrace their irreverent, fun-loving approach to marketing.
As Cuban put it: "They're killing it." And with their sights set on the billion-dollar mark, DUDE Wipes isn't slowing down anytime soon.
Read Next:
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<li>Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.26/share!</a></li>
<li>If there was a new fund backed by Jeff Bezos offering a <a href="https://www.benzinga.com/money/arrived-private-credit-fund">7-9% target yield with monthly dividends would you invest in it</a>?</li>
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Mark Cuban's Favorite Shark Tank Product Was Created Just For 'Dudes' And Is Raking In Over $100 Million A Year: 'Wipe Early, Wipe Often'

Former Treasury Secretary Larry Summers has dismissed the idea of a national Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) reserve as &#8220;crazy&#8221; amidst ongoing deliberations in Congress <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">and the crypto industry</a>.
What Happened: In an interview with Bloomberg on Friday, Summers voiced his doubts about the feasibility of a national bitcoin reserve. He opined that although he feels cryptocurrencies have been excessively regulated, the concept of a national bitcoin reserve doesn&#8217;t hold water.
&#8220;There are probably respects in which crypto has been over-regulated by overzealous regulators. But some of what is being said, this idea that we should have some kind of national bitcoin reserve, is crazy,&#8221; Summers <a href="https://www.youtube.com/watch?v=YqcmON_WmjE">told</a> the outlet.
While President-elect Donald Trump has not officially announced such a plan, his pledge to refrain from selling U.S.-owned Bitcoin has fueled speculation about a larger initiative.
Crypto enthusiasts are optimistic that the government might increase its bitcoin purchases, which could potentially contribute to paying off U.S. debt, assuming bitcoin&#8217;s price continues to ascend.
Also Read: <a href="https://www.benzinga.com/news/23/02/30722528/larry-summers-says-soft-landing-looks-more-possible-unemployment-vs-inflation">Larry Summers Says Soft Landing &#8216;Looks More Possible&#8217;: Unemployment Vs. Inflation</a>
A bill proposing the creation of a bitcoin reserve is currently under consideration after being introduced by Sen. Cynthia Lummis (R-Wyo.). The proposed legislation suggests that bitcoin purchases could be financed by selling Fed-held gold certificates.
However, Summers countered that&nbsp;there are no strategic reasons&nbsp;for the government to amass Bitcoin, unlike oil or gold. He questioned the logic behind supporting bitcoin prices by accumulating a &#8220;sterile inventory.&#8221;
&#8220;Of all the prices to support, why would the government choose to support by accumulating a sterile inventory a bunch of Bitcoin. There&#8217;s no reason to do that, other than to pander to generous special interest campaign contributors,&#8221; he added. 
Why It Matters: The ongoing discussions reflect a shift in attitudes towards cryptocurrencies among lawmakers. 
Trump has been labeled&nbsp;the first &#8220;crypto president&#8221; and&nbsp;has received substantial contributions from the industry. Despite his skepticism, Summers conceded that there are valid reasons for the incoming administration to adopt a pro-crypto stance.
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Scaramucci: Bitcoin Is a Volatile Asset, But &#8216;Ready for Prime Time Institutional Investing&#8217;
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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