Iran's Foreign Minister&nbsp;Abbas Araghchi&nbsp;warned on Saturday, before the U.S. launched airstrikes on the country's nuclear facilities in Fordow, Natanz, and Isfahan, that if the United States got involved in the Israel-Iran conflict, the result would be "very, very dangerous" for everybody. The U.S. launched attacks on Saturday evening around 8:00 pm ET.



"The tweets, interviews by the U.S. President, [it's] quite clear that he&#8217;s talking about the U.S. leadership on these questions [of a potential U.S. involvement]," Aragachi told reporters, <a href="https://time.com/7296396/iran-new-warning-trump-united-states-israel-conflict-dangerous/">according</a> to Time Magazine. &nbsp;"Unfortunately, we have heard that the U.S. may join in this aggression. That would be very unfortunate and I think that would be very, very dangerous for everybody."



President Trump announced the Iran strikes on <a href="https://truthsocial.com/@realDonaldTrump/posts/114724035571020048">Truth Social</a>. 



&#8220;We have completed our very successful attack on the three Nuclear sites in Iran, including Fordow, Natanz, and Esfahan. All planes are now outside of Iran air space. A full payload of BOMBS was dropped on the primary site, Fordow. All planes are safely on their way home. Congratulations to our great American Warriors. There is not another military in the World that could have done this. NOW IS THE TIME FOR PEACE! Thank you for your attention to this matter.&#8221;



Trump had previously indicated that the U.S. was not involved in the Israeli strikes and that he was intending to give the situation two weeks, implying that U.S.-Iran negotiations were a possibility. Iranian officials replied that talks would not be helpful while Israeli attacks continued.



"In order for us to come back to diplomacy, the aggression should be stopped," Araghchi said. "I cannot go to negotiation with the United States when our people are under bombardment, under the support of the United States."



Following Saturday&#8217;s U.S. bombing, Iranian officials said the country's nuclear agency had already moved all relevant nuclear material from the three sites that were hit, according to MSNBC.



Trump has stated multiple times in the first months of his second term that a deal with Iran would have to include a ban on the nation&#8217;s enriching uranium—something that would allow them to produce nuclear weapons.



He has also called for something more permanent than a cease-fire. 



"We&#8217;re looking for better than a cease-fire," Trump told reporters on Air Force One on June 17 as he left the G7 summit. "A real end, not a cease-fire. An end… giving up, entirely."



Meanwhile, following Saturday&#8217;s U.S. air strikes, Iran has said all communications inside the country had been cut to avoid what officials have called &#8220;Israeli infiltration.&#8221; Per reports, chaos and insecurity have deepened on the ground among Tehran&#8217;s approximately nine million residents.



Photo: Shutterstock

News

Politics

Iran Calls US Bombing Of Nuclear Sites 'Very, Very Dangerous For Everybody'

Donald Trump Jr. has joined billionaire entrepreneur Mark Cuban in publicly voicing disapproval of Sen. Elizabeth Warren (D-Mass.)&#8217;s approach to healthcare pricing.



Despite their political differences, Trump Jr. and Cuban found a common point of contention in Warren&#8217;s healthcare pricing strategy. They criticized the senator for not addressing&nbsp;the role of pharmacy benefit&nbsp;managers (PBMs) in escalating drug costs.



Warren had previously argued&nbsp;that the tax system was&nbsp;&#8220;rigged&#8221;&nbsp;because large pharmaceutical companies like&nbsp;Johnson &amp; Johnson&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) often escape federal taxes while charging exorbitant prices for their drugs. 



She wrote on X saying that the "highest drug prices in the WORLD while often paying ZERO dollars in federal taxes themselves."



<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">Big Pharma companies like Johnson &amp; Johnson and Pfizer charge Americans the highest drug prices in the WORLD while often paying ZERO dollars in federal taxes themselves. Why? Because our tax system is rigged. Now, Republicans want to make it worse. I&#39;m fighting back. <a href="https://t.co/k7dFrXBneX">pic.twitter.com/k7dFrXBneX</a>&mdash; Elizabeth Warren (@SenWarren) <a href="https://twitter.com/SenWarren/status/1935443373487440373?ref_src=twsrc%5Etfw">June 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Cuban countered this by stating that PBMs, not pharmaceutical companies, are the ones controlling and manipulating drug pricing.



Also Read: <a href="https://www.benzinga.com/news/25/01/43245984/cuban-on-musk-i-have-no-problem-throwing-elon-under-the-bus-but-ill-save-it-for-when-its-truly-deser">Cuban on Musk: &#8216;I Have No Problem Throwing Elon Under the Bus, but I&#8217;ll Save It for When It&#8217;s Truly Deserved&#8217;</a>



Trump Jr. publicly supported Cuban&#8217;s viewpoint on X, despite Cuban&#8217;s well-known opposition to President Trump. This unexpected agreement highlights the growing concern over the role of PBMs in healthcare pricing.



<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">Didn't think I'd be RTing Mark for a while, but he's 100% right on this issue. <a href="https://t.co/ofraK5IFQk">https://t.co/ofraK5IFQk</a>&mdash; Donald Trump Jr. (@DonaldJTrumpJr) <a href="https://twitter.com/DonaldJTrumpJr/status/1935817600891601345?ref_src=twsrc%5Etfw">June 19, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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PBMs have been facing increasing scrutiny from federal regulators and lawmakers due to their influence on healthcare pricing. 



In 2020, the Federal Trade Commission released a report criticizing PBMs for imposing unfair terms on independent pharmacies, thereby favoring large corporate pharmacies like&nbsp;CVS&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>).



The public criticism from Trump Jr. and Cuban underscores the growing debate over the role of PBMs in healthcare pricing. 



Warren&#8217;s focus on pharmaceutical companies, while not entirely misplaced, overlooks the significant influence of PBMs in determining drug prices.



The Federal Trade Commission&#8217;s report from last year further highlights the need for regulatory scrutiny of PBMs. As the debate continues, it remains to be seen how lawmakers will address the issue of healthcare pricing and the role of PBMs in the future.



Read Next



<a href="https://www.benzinga.com/news/politics/25/06/45829489/mark-cuban-reacts-to-elon-musk-donald-trump-feud">Mark Cuban Reacts to Elon Musk-Donald Trump Feud</a>



Image: Shutterstock/lev radin

Markets

Donald Trump Jr. Joins Mark Cuban In Slamming Elizabeth Warren on Healthcare Pricing

If you're working hard just to scrape by, Sen. Bernie Sanders (I-VT) says it's not just draining — it could be deadly.



According to a <a href="https://www.sanders.senate.gov/press-releases/new-report-working-class-americans-can-expect-to-die-at-least-7-years-earlier-than-the-wealthy/">Senate report released by Sanders</a> in March, the wealth gap in America isn't just about who can afford nicer things. It's about who lives longer. And the answer, Sanders says, is simple: "In America today, the bottom 50% of our population can expect to live seven years shorter lives than the top 1%."



It gets worse for rural, working-class Americans. In some parts of the country, the difference in life expectancy stretches to a full 10 years — with some counties facing a 15-year gap between the rich and poor. "Even worse," Sanders said, "Americans who live in working-class, rural counties can expect to die 10 years younger than people who live in wealthier neighborhoods across the country."



Don't Miss:



<ul class="wp-block-list">
<li>Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — <a href="https://www.benzinga.com/money/boxabl-scaling-fast-from-spacex-orders-to-600-homes-built-this-60k-foldable-home-may-be-the-future-of-housing">this is your last chance to become an investor for $0.80 per share.</a></li>



<li>Peter Thiel turned $1,700 into $5 billion—now accredited investors are eyeing this software company with similar breakout potential. Learn how you can <a href="https://www.benzinga.com/money/how-peter-thiel-turned-his-roth-ira-into-5-billion-and-why-accredited-investors-are-now-eyeing-this-smartphone-disruptor">invest with $1,000 at just $0.30/share.</a></li>
</ul>



The reason? "The <a href="https://www.benzinga.com/personal-finance/25/01/42914736/bernie-sanders-pushes-for-32-hour-work-weeks-with-no-pay-loss-it-is-time-to-reduce-the-stress-level-in-our-country">enormous stress</a> of living paycheck to paycheck," Sanders said, "not only causes far too many Americans to die much quicker than they should, but also leads to higher levels of anxiety, depression, cardiovascular disease and poor health."



The report shows that people living in the highest-income counties live over 84 years on average. In the poorest half of counties, life expectancy drops to 77.4. In rural areas where the median income is around $30,000, people are expected to live to just 71.7. Meanwhile, <a href="https://www.benzinga.com/personal-finance/24/11/41703390/are-you-richer-or-poorer-than-your-peers-heres-a-look-at-the-average-net-worth-for-your-income">people in suburban counties making over $100,000</a> often reach 81.6.



To put that in perspective: In Loudoun County, Virginia, life expectancy is 84. Just a few hours away in McDowell County, West Virginia, it's 69.



Sanders said he asked Americans on social media how <a href="https://www.benzinga.com/markets/tech/25/06/45968055/bernie-sanders-says-ai-boom-must-serve-working-families-not-billionaires-calls-for-shorter-work-week-higher-quality-of-life">stress from low wages and high costs</a> was impacting their lives. The responses poured in — and some were devastating.



Trending: Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. <a href="https://www.benzinga.com/money/this-company-may-have-found-a-way-to-treat-cancer-by-tricking-the-bodys-immune-system-and-early-studies-show-some-promise-find-out-how-you-can-invest-in-the-future-of-cancer-treatment">Back a bold new approach to cancer treatment with high-growth potential.</a>



Edwardo from Texas wrote, "We struggle to get sleep. Our diets fluctuate, and we get sick from spoiled food from the donation pantry. Working long hours, I was recently injured and am struggling, unable to pay for care to help heal."



Caitlan from Colorado shared, "Stress isn't just an inconvenience for me — it's a direct threat to my heart. Living with a congenital heart defect and multiple mechanical valves means that every surge of anxiety, every sleepless night worrying about bills, isn't just mentally exhausting — it physically wears on my heart."



Sanders says these aren't outliers — they reflect a system that punishes people for being poor. His recommendations include:



<ul class="wp-block-list">
<li>Raising the minimum wage to at least $17 per hour </li>



<li>Enacting Medicare for All to guarantee health care</li>



<li>Providing paid family and medical leave</li>



<li>Expanding Social Security and restoring pensions</li>



<li>Making education accessible regardless of income or ZIP code</li>
</ul>



See Also: Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wideradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation</a>.&nbsp;



"In the richest country in the history of the world, it is absolutely unacceptable that so many Americans are seeing their lives cut short because they don't have enough money," Sanders said. "This is an issue that Congress must address."



A 2022 systematic review published in the <a href="https://pmc.ncbi.nlm.nih.gov/articles/PMC8863240/">National Library of Medicine</a> analyzed 40 studies, including many from the U.S., and found a consistent link between financial stress and depression. Americans facing debt, low income, or trouble affording basic needs were significantly more likely to experience depressive symptoms — especially those in lower-income households.&nbsp;



The message is clear: If you're middle class and barely hanging on, you're not just working your life away — you might be working it shorter, too.



Read Next: <a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.



Image: Shutterstock

Personal Finance

Bernie Sanders Says Working-Class Americans Die 10 Years Earlier Than the Rich — Blames 'Enormous Stress of Living Paycheck to Paycheck'

Benzinga examined the prospects for <a href="http://www.benzinga.com/trading-ideas" target="_blank" rel="noreferrer noopener">many investors' favorite stocks</a> over the last week — here's a look at some of our top stories.



Escalating tensions between Israel and Iran, and President Donald Trump's renewed attacks on Fed Chair Jerome Powell, unsettled markets this week. The Federal Reserve held rates at 4.25-4.5%, cut its 2026 rate‑cut outlook, and signaled two cuts in 2025 amid growing inflation concerns. Trump called Powell "an American disgrace," renewing calls for outsized rate cuts.



Markets fluctuated on geopolitical and central‑bank uncertainty. Energy and defense stocks lagged, while treasury yields climbed modestly as investors weighed inflation risks. Renewables fell following proposed tax‑credit rollbacks.



Looking ahead, investors are watching Fed nominations — Trump hinted at replacing Powell — as well as developments in the Middle East and next week's economic data. Any signals on Fed independence or geopolitical escalation could significantly sway sentiment.



Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week's most bullish and bearish posts that are worth another look.







The Bulls



<a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46030182/circle-stock-rockets-540-cathie-wood-says-weve-just-begun">"Circle stock rockets 540%: Cathie Wood says ‘we've just begun'"</a>, by Erica Kollmann, reports that Circle Internet Group Inc. (NYSE: CRCL) shares have surged 540% since their June 5 IPO — hitting $199.59 — after a Senate vote on the GENIUS Act and bullish remarks from ARK Invest's Cathie Wood, who said "we've just begun on a very big journey here."



<a href="https://www.benzinga.com/markets/commodities/25/06/45994711/uranium-stocks-on-11-week-tear-their-longest-winning-streak-in-history">"Uranium stocks on 11‑week tear — their longest winning streak in history"</a>, by Surbhi Jain, reports that uranium equities and ETFs — including Global X Uranium ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/URA#NYSE">URA</a>) and Sprott Uranium Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/URNM#NYSE">URNM</a>) — have rallied for 11 consecutive weeks, marking their longest uninterrupted winning streak on record.



<a href="https://www.benzinga.com/trading-ideas/movers/25/06/46007657/gorilla-technology-stock-surges-on-q1-earnings-as-momentum-builds">"Gorilla Technology stock surges on Q1 earnings as momentum builds"</a>, by Adam Eckert, reports that Gorilla Technology Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRRR#NASDAQ">GRRR</a>) shares climbed sharply after Q1 results showed revenue doubled to $18.26 million year-over-year and adjusted earnings swung to a $0.23 profit from a $1.47 loss, while its $5 billion pipeline and $33.8 million cash position bolstered investor confidence.



For additional bullish calls of the past week, check out the following:



<a href="https://www.benzinga.com/news/health-care/25/06/45999930/aptevo-therapeutics-touts-data-from-investigational-drug-trial-for-aggressive-blood-cancer">Aptevo Therapeutics Touts Data From Investigational Drug Trial For Aggressive Blood Cancer</a>



<a href="https://www.benzinga.com/trading-ideas/movers/25/06/46007657/gorilla-technology-stock-surges-on-q1-earnings-as-momentum-builds">Oklo Stock Is Rising Again: What's Going On?</a>



<a href="https://www.benzinga.com/markets/tech/25/06/45982049/vertiv-holdings-stock-25-off-highs-is-now-riding-nvidias-ai-wave">Vertiv Holdings Stock, 25% Off Highs, Is Now Riding Nvidia's AI Wave</a>







The Bears



<a href="https://www.benzinga.com/analyst-stock-ratings/downgrades/25/06/45981680/sunrun-receives-downgrade-as-analyst-warns-business-model-relies-on-inflated-system-values-for-tax-credits">"Sunrun receives downgrade as analyst warns business model relies on inflated system values for tax credits"</a>, by Anusuya Lahiri, reports that Sunrun Inc. (NASDAQ: RUN) was downgraded to Sell by GLJ Research's Gordon L. Johnson II, who warned that the company depends on overstating solar system values to claim tax credits — an exposure that the pending Senate bill could curtail and threaten its cash flow.



<a href="https://www.benzinga.com/news/travel/25/06/45983684/jetblue-ceo-more-cuts-ahead-as-airline-faces-prolonged-losses">"JetBlue CEO: More cuts ahead as airline faces prolonged losses"</a>, by Erica Kollmann, reports that CEO Joanna Geraghty warned employees that weak travel demand has forced JetBlue Airways Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) to implement further flight and cost reductions and to delay its break-even target, potentially prolonging losses despite planned capacity cuts and route eliminations.



<a href="https://www.benzinga.com/trading-ideas/technicals/25/06/46000107/mcdonalds-stock-slips-below-200-day-line-can-the-big-arch-reverse-the-slide">"McDonald's stock slips below 200‑day line — can ‘The Big Arch' reverse the slide"</a>, by Surbhi  Jain, reports that McDonald's Corp. (NYSE: MCD) shares have fallen below their 200‑day moving average — alongside key technical indicators like an RSI of 25.75 and a bearish MACD — while options markets reflect little optimism despite the launch of the "Big Arch" burger.



For more bearish takes, be sure to see these posts:



<a href="https://www.benzinga.com/markets/earnings/25/06/45984979/beyond-air-stock-dips-after-mixed-q4-results-heres-what-to-know">Beyond Air Stock Dips After Mixed Q4 Results: Here's What To Know</a>



<a href="https://www.benzinga.com/cannabis/25/06/45997534/canadian-medical-marijuana-firm-aurora-cannabis-expects-weak-demand-in-international-market">Canadian Medical Marijuana Firm Aurora Cannabis Expects Weak Demand In International Market</a>



<a href="https://www.benzinga.com/trading-ideas/movers/25/06/45995637/houston-american-energy-stock-is-sinking-wednesday-heres-why">Houston American Energy Stock Is Sinking Wednesday: Here's Why</a>







Keep up with all the latest breaking news and trading ideas by following <a href="https://twitter.com/Benzinga" target="_blank" rel="noreferrer noopener">Benzinga</a><a href="http://twitter.com/Benzinga" target="_blank" rel="noreferrer noopener"> on X</a>.



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HUSA

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OKLO

URNM

XAIR

Benzinga Bulls And Bears: Circle, Sunrun, JetBlue — And Mideast Has Markets Nervous

Investor caution dominated Wall Street this week, as escalating tensions between Israel and Iran fueled fears of potential U.S. involvement. Plus, the Federal Reserve's decision to keep rates as is peeved President Donald Trump.



The Federal Reserve kept interest rates steady at 4.25%-4.5% for the fourth consecutive meeting, <a href="https://www.benzinga.com/markets/economic-data/25/06/46004338/no-rate-cuts-yet-fed-flags-slower-growth-sticky-inflation">reaffirming its cautious stance. </a>



Overall economic uncertainty has &#8220;diminished&#8221; since March, but the Fed warns that risks remain elevated. Policymakers maintain their median projection of two rate cuts in 2025, while trimming the 2026 outlook from three cuts to two — signaling a slightly more hawkish stance.



See Also: <a href="https://www.benzinga.com/markets/equities/25/06/46035360/stock-market-today-news-sp500-nasdaq-trump-iran-bitcoin">S&amp;P 500 Extends Retreat From Highs, Bitcoin Falls Below $103,000: What&#8217;s Driving Markets Friday?</a>



<h3 class="wp-block-heading">Powell Defends The Decision</h3>



Federal <a href="https://www.benzinga.com/news/politics/25/06/45999380/trump-powell-again-markets-breathe-iran-rejects-demands">Reserve Chair Jerome Powell</a> defended the pause. He argues that while inflation has moderated, it is still too high to justify rate reductions. He cited new inflationary pressures stemming from tariffs tied to <a href="https://www.benzinga.com/topic/tariffs">trade policy changes</a>.



The Fed now forecasts 2025 headline inflation at 3%, up from 2.7% in March. Meanwhile, GDP growth was revised downward to 1.4% in 2025, from a prior estimate of 1.7%.



However, in a Friday interview with CNBC, Federal Reserve Governor Christopher Waller said the U.S. central bank could start cutting interest rates <a href="https://www.benzinga.com/etfs/sector-etfs/25/06/46035535/fed-guv-says-rate-cuts-july-rate-sensitive-etfs-fed-pivot-looms">as early as July</a>.



Waller is a Trump appointee.



Trump, meanwhile, took to calling Powell names in a social media post, labeling the Fed Chair "an American disgrace," arguing that the Fed&#8217;s inaction costs the U.S. billions in higher interest payments.



Federal Housing Finance Agency Director Bill Pulte echoed the sentiment, calling for Powell's immediate resignation and blaming him for damaging the housing market. <a href="https://www.benzinga.com/markets/25/06/45814493/its-a-buyers-market-redfin-reports-there-are-34-more-sellers-in-the-market-than-buyers" target="_blank" rel="noreferrer noopener">Homes are sitting on the market</a> for weeks or even months while <a href="https://www.benzinga.com/news/25/03/44218740/kevin-oleary-says-prices-arent-going-down-eggs-energy-and-housing-remain-sky-high-but-he-thinks-its-part-of-a-bigger-strategy" target="_blank" rel="noreferrer noopener">prices remain sky high</a> and <a href="https://www.benzinga.com/money/mortgage-rates" target="_blank" rel="noreferrer noopener">mortgage rates</a> remain near 6.8%.



Read Also: <a href="https://www.benzinga.com/markets/macro-economic-events/25/06/46006680/powell-holds-line-on-interest-rates-blames-tariff-uncertainty-for-delay-in-cuts">Why Powell Held Rates Steady, And What Trump&#8217;s Iran Comments Could Mean For Markets</a>



<h3 class="wp-block-heading">Energy Sector</h3>



Oil prices, which spiked in the prior week, steadied near $73 per barrel. Powell dismissed parallels with the 1970s oil shocks, stating that while further price spikes are possible, they are unlikely to generate persistent inflationary effects.



Meanwhile, two major Congressional developments shaped market action. The Senate's draft tax bill proposed phasing out clean energy and solar tax credits earlier than anticipated, sparking a steep sell-off in renewables. 



<ul class="wp-block-list">
<li>First Solar Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) tumbled 13% on the week</li>



<li>Enphase Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) dropped 18%, and </li>



<li>Sunrun (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>) plunged 35%.</li>
</ul>



On The Crypto Front: Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) surged 27% on the week after the Senate passed a bill establishing a federal framework for dollar-pegged cryptocurrencies, known as stablecoins.



The bill offers what its supporters argue is <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46025145/saks-stablecoin-bill-treasury-buying-trump-ties-cloud-push">long-awaited regulatory clarity</a> that could unleash capital from institutional investors. Critics, mostly Democrats, say it&#8217;s a conflict of interest <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45995223/genius-stablecoin-bill-clears-senate-but-trumps-crypto-profits-loom-over-momentum">for the Trump family</a>.



Now Read:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/eurozone/25/06/46026714/this-rare-market-dynamic-preceded-the-dot-com-crash-its-back-in-2025">This Rare Market Dynamic Preceded The Dot-Com Crash — It&#8217;s Back In 2025 </a></li>
</ul>



Image created using artificial intelligence via Midjourney.

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Macro Economic Events

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Econ #s

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Federal Reserve

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Wall Street Wavers As Geopolitical Tensions Flare, Trump Renews Attacks On Fed Chair Powell: This Week In Markets

The tech leaderboard of 2030 could look radically different, not just because of who rises <a href="https://www.benzinga.com/tech" target="_blank" rel="noreferrer noopener">but also because of who fades</a>.



A <a href="https://x.com/KoyfinCharts/status/1936092201920217573" target="_blank" rel="noreferrer noopener">post</a> on X by Koyfin reveals that Coatue&#8217;s recent projections for the next wave of trillion-dollar companies suggest a shift in how value is being created across industries.



Notably absent from the top 40 are Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) and Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>).



The exclusion isn&#8217;t arbitrary.



Also Read: <a target="_blank" href="https://www.benzinga.com/markets/tech/25/06/46041525/google-offers-to-boost-rivals-in-search-results-to-avoid-eu-antitrust-fine-under-digital-markets-act-report" rel="noreferrer noopener">Google Offers To Boost Rivals In Search Results To Avoid EU Antitrust Fine Under Digital Markets Act: Report</a>



Both companies face structural challenges that could curb future growth. Alphabet, for instance, is increasingly under pressure as generative AI threatens its core search and ad businesses — the very engines that built its empire.



CNBC <a href="https://www.cnbc.com/2025/04/24/alphabet-expects-slight-headwind-to-ads-business-in-2025-execs-say.html#:~:text=Alphabet%20will%20likely%20be%20impacted,advertising%20pullback%20from%20budget%20constraints." target="_blank" rel="noreferrer noopener">reports</a> that Alphabet may face headwinds due to the rising costs of materials essential for building and maintaining the technical infrastructure—like data centers—needed to support its AI ambitions. Additionally, it could feel indirect pressure from a slowdown in advertising spend, as companies tighten budgets, the report adds.



Competitors like OpenAI are already redefining how users interact with information.



Apple, while still wildly profitable, hasn&#8217;t demonstrated category-defining innovation post-iPhone.



Hardware saturation and China-related supply chain risks continue to weigh on investor confidence.



Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/25/05/45489614/as-apple-faces-pressure-after-trump-told-tim-cook-to-avoid-manufacturing-in-india-expert-warns-iphone-makers-value-added-growth-is-in-danger" rel="noreferrer noopener">As Apple Faces Pressure After Trump Told Tim Cook To Avoid Manufacturing In India, Expert Warns iPhone Maker&#8217;s &#8216;Value-Added Growth Is In Danger&#8217;</a>



Meanwhile, rising stars like NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), OpenAI, and SpaceX are being valued not just for current profits but for owning the infrastructure of the future — AI, energy, automation, and space.



Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) placement among the top three underscores another trend: institutional acceptance of crypto as a legitimate store of value.



The market isn&#8217;t just rewarding performance anymore — it&#8217;s betting on disruption, scalability, and vision.



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Image: Shutterstock/NRSPro

$BTC

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GOOG

GOOGL

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Tech Hedge Fund: One of the 'Magnificent 7' May Not Make 2030 Top 40

Billionaire Elon Musk is worth <a href="https://www.benzinga.com/news/25/06/45932793/elon-musk-net-worth-down-64-billion-in-2025-but-tesla-ceo-still-richer-than-value-of-ford-general-mo">more than $350 billion</a>, giving the Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO the opportunity to buy nearly anything he wants.



While Musk doesn't own any yachts or multiple houses anymore, the billionaire had no problem spending $1 million to buy a famous movie car back in 2013.



What Happened:&nbsp;One of the most expensive personal items ever purchased is the car from the James Bond movie "The Spy Who Loved Me," which he bought in 2013 for&nbsp;<a href="https://www.benzinga.com/news/23/04/31727712/5-of-the-craziest-things-elon-musk-has-spent-his-money-on" target="_blank" rel="noreferrer noopener">nearly one million dollars</a>.



In the 1977 movie, which stars&nbsp;Roger Moore&nbsp;as Bond, a sports car that can transform into a submarine and fire missiles underwater is featured. The vehicle was nicknamed "Wet Nellie" and saw a marine engineering firm convert it into a functional submarine. A retired U.S. Navy SEAL in full scuba gear helped perform the underwater scenes in the movie.



While buying the famous vehicle might be a crazy story for Musk, it's an even crazier story for the couple that once owned it.



A couple from New York purchased an unclaimed storage unit for $100 in 1989 via a blind auction, which means unlike the storage unit auctions you may have seen on TV, the bidders couldn't see what was inside or even open the door.



As reported by&nbsp;<a href="https://www.cnbc.com/2019/12/01/couple-paid-100-for-car-elon-musk-bought-it-from-them-for-6-figures.html" target="_blank" rel="noreferrer noopener">CNBC</a>, the couple found the 1976 Lotus Espirit sports car when they opened the unit after winning. Surprisingly enough, the couple had never watched a James Bond movie.



"They really didn't know what it was," Ian Fleming Foundation Co-Founder&nbsp;Doug Redenius&nbsp;told NBC in 2013. Redenius helped authenticate the car for the couple, who ran a construction tool renting business at the time.



"They had no idea how valuable their discovery was."



According to the story, the couple loaded the car onto a truck and while driving it home were told several times by truckers via CB radio that it was a James Bond car that they were hauling. The discovery led to the husband going out and renting the Bond film on VHS to see the car in the movie.



The couple "cosmetically restored" the vehicle and featured it in exhibits before deciding to part ways and put it up for auction in 2013.



The car purchased by Musk is one of eight that was used during the filming of the 1977 film, but is the only one that was used in the underwater scenes. After filming, the car went into a storage unit.



Musk bought the vehicle anonymously in a 2013 auction with RM Sotheby's. The purchase price was $997,000 for the James Bond car.



It was later revealed that Musk was the buyer of the vehicle.



Are you buying when the CEOs of the Magnificent 7 are selling?



<ul class="wp-block-list">
<li>Stay in the know with our Insider Trades page — <a href="https://www.benzinga.com/sec/insider-trades/">see when leaders like Mark Zuckerberg, Elon Musk, and Jensen Huang are offloading their own shares.</a></li>
</ul>



Musk a Fan Of James Bond:&nbsp;Musk has said in interviews that he was a fan of James Bond movies, particularly "The Spy Who Loved Me."



"It was amazing as a little kid in South Africa to watch James Bond in ‘The Spy Who Loved Me' drive his Lotus Espirit off a pier, press a button and have it transform into a submarine understeer," Musk said previously.



In a 2013 interview, Musk said that he was disappointed the James Bond car he bought didn't actually transform.



"What I'm going to do is upgrade it with a Tesla electric powertrain and try to make it transform for real."



Tesla&nbsp;investors and customers may be familiar with the design of the vehicle featured in the James Bond movie. Musk has called the vehicle a major inspiration for the highly anticipated Tesla Cybertruck electric pickup truck.



"Cybertruck design influenced partly by The Spy Who Loved Me," Musk&nbsp;<a href="https://twitter.com/elonmusk/status/1197638937109336066" target="_blank" rel="noreferrer noopener">tweeted&nbsp;</a>in 2019.



Along with being influenced by The Spy Who Loved Me, the Cybertruck design was also inspired by the "Blade Runner" film.



&#8220;I specifically wanted to make something that looks like the future,&#8221; Musk <a href="https://www.benzinga.com/news/23/12/36104426/elon-musk-wanted-to-make-a-vehicle-for-the-future-one-that-blade-runner-would-drive">said in an interview</a>. &#8220;What car would Blade Runner drive?&#8221;



Musk has&nbsp;<a href="https://twitter.com/elonmusk/status/1252098355062173696" target="_blank" rel="noreferrer noopener">teased&nbsp;</a>for years that the Cybertruck would be able to drive through water, a reference to the underwater capabilities of "Wet Nellie."



It&#8217;s hard to believe that a $100 storage unit purchase by a couple in 1989 led to a one million dollar payday, and also may have played a hand in the design of the Cybertruck.&nbsp;



While the Cybertruck may not live up to Musk's once lofty expectations based on current demand trends, the unique vehicle design will likely be talked about for decades.



Read Next: 



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</ul>



&nbsp;This article was previously published by Benzinga and has been updated.



Photo: Shutterstock

Entertainment

Education

Elon Musk Paid $1M For A James Bond Car — It Was Found In A $100 Storage Unit

Mark Cuban didn't always own NBA teams and billion-dollar businesses. Long before the Dallas Mavericks, long before &#8220;Shark Tank,&#8221; he was just a kid growing up in Pittsburgh, watching his dad grind out 60-hour weeks <a href="https://www.benzinga.com/news/24/02/37384456/mark-cuban-credits-fathers-wisdom-for-billion-dollar-success-story-his-job-didnt-have-a-future">upholstering car seats</a>.



<h2 class="wp-block-heading">A Life-Changing Milestone</h2>



Cuban still remembers the moment he told his dad Norton that he had made $100,000 in a single year. &#8220;He cried,&#8221; Cuban said in a 2019 <a href="https://www.youtube.com/watch?v=JMnrZWXID_s">interview</a> on &#8220;The Dan Patrick Show.&#8221; &#8220;He did upholstery on cars and I don&#8217;t think he ever made more than $40,000 in a year.&#8221;



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<li>Peter Thiel turned $1,700 into $5 billion—now accredited investors are eyeing this software company with similar breakout potential. Learn how you can <a href="https://www.benzinga.com/money/how-peter-thiel-turned-his-roth-ira-into-5-billion-and-why-accredited-investors-are-now-eyeing-this-smartphone-disruptor">invest with $1,000 at just $0.30/share.</a></li>
</ul>



The money wasn't just a number. For Cuban, it meant freedom. For his father, it was pride. "It wasn't so much that it was hard for him," Cuban added. "But we would go out to dinner and he would still pull out the credit card. Even when it was my credit card, he gave me a death stare, like, &#8216;Don&#8217;t even think about paying.'&#8221;



<h2 class="wp-block-heading">The Lesson That Shaped His Life</h2>



Cuban also credits his work ethic and values to his dad, who gave him a key piece of advice when he was 14: &#8220;Time is your most valuable asset.&#8221;



&#8220;His time was never his own,&#8221; Cuban told <a href="https://www.cnbc.com/2024/02/28/mark-cuban-built-his-career-using-advice-his-dad-gave-him-at-age-14.html">CNBC</a> last year. &#8220;He wanted me to create my own path.&#8221;



That mindset pushed Cuban to chase independence over a high-paying job. He wanted to control his schedule and never answer to anyone else.&nbsp;



Cuban started <a href="https://www.benzinga.com/personal-finance/24/06/39440861/mark-cuban-began-his-millions-selling-garbage-bags-for-6-the-worlds-first-garbage-bag-door-to-do">selling trash bags</a> door to door at age 12, then stamps and coins. In college, he taught disco lessons for $25 an hour and opened a bar using the money from side hustles. His first big win came when he <a href="https://www.benzinga.com/news/24/12/42638290/mark-cubans-wealth-journey-i-want-to-live-off-this-for-a-long-time">sold MicroSolutions for $6 million</a> in 1990. Less than a decade later, Yahoo acquired his next company, <a href="https://www.benzinga.com/general/education/24/10/41234173/how-mark-cuban-turned-broadcast-com-into-5-7b-sale-we-were-the-youtube-of-our-day">Broadcast.com, for $5.7 billion</a>.



Trending: Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wideradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation</a>.&nbsp;



<h2 class="wp-block-heading">Still Just Dad</h2>



Despite the success, Cuban says some things never changed. His dad moved to Dallas after Mark <a href="https://www.benzinga.com/news/25/03/44571779/mark-cubans-big-revelation-says-he-lost-hundreds-of-millions-owning-the-dallas-mavericks">bought the Mavericks</a>, but kept his same humble approach. &#8220;I couldn&#8217;t get him to retire, and finally that was kind of the impetus for him to retire and come down to Dallas and live and just hang out and go to Mavs games,&#8221; Cuban said.&nbsp;



He never gave his dad one big gift. Instead, he gave him the option to go anywhere in the world. His dad took full advantage, cruising across the globe and collecting friends along the way. &#8220;I&#8217;d get emails from random people who met my dad on cruises,&#8221; Cuban told Patrick.



And at home? Cuban might be a billionaire, but to his kids, he&#8217;s still just Dad. &#8220;One of my daughters says, &#8216;You don't know anything about business, Dad,'&#8221; Cuban joked on Theo Von&#8216;s <a href="https://www.youtube.com/watch?v=fiK6IWhDbWU">podcast</a> last year.&nbsp;



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Image: Shutterstock

When Mark Cuban Hit $100,000, He Told His Dad, Who'd Never Earned Even Half That. 'He Just Started Crying'

President Donald Trump has publicly contradicted Director of National Intelligence, Tulsi Gabbard amid reports suggesting Gabbard&#8217;s influence within Trump&#8217;s administration is declining.



What Happened: Trump dismissed Gabbard during a press briefing on Friday. When asked about intelligence supporting a potential strike on Iran, to which Trump replied that Iran had accumulated &#8220;a tremendous amount of nuclear material.&#8221;



As reported <a href="https://www.foxnews.com/politics/shes-wrong-trump-says-tulsi-gabbard-incorrect-about-iran-not-having-nuclear-weapon-capabilities">by</a> Fox News, when told that his intelligence team had said that Iran is not close to achieving a nuclear weapon, Trump retorted, &#8220;Well, then my intelligence community is wrong. Who in the intelligence community said that?&#8221; Upon reporter&#8217;s mention of Gabbard, Trump&#8217;s response was a curt, &#8220;She&#8217;s wrong.&#8221;



Also Read: <a href="https://www.benzinga.com/news/25/02/43758634/mary-trump-warns-dni-gabbard-could-lead-to-catastrophic-outcome-a-known-russian-asset-defender-of-murderous-dictator-assad">Mary Trump Warns DNI Gabbard Could Lead To &#8216;Catastrophic Outcome&#8217;: &#8216;A Known Russian Asset,&#8217; Defender of &#8216;Murderous Dictator&#8217; Assad</a>



This public disagreement follows a recent media report that Gabbard&#8217;s influence within the administration was on the decline. This was after Gabbard released a video warning about the potential for nuclear annihilation, which reportedly upset Trump.



Despite the public disagreement, Vice President&nbsp;JD Vance&nbsp;voiced his support for Gabbard, characterizing her as a &#8220;veteran, a patriot, a loyal&nbsp;supporter of President Trump, and&nbsp;a critical part of the&nbsp;coalition he built in 2024.&#8221;



Why It Matters: The public contradiction of Gabbard by President Trump raises questions about the stability within the administration and the potential impact on national security. 



Gabbard&#8217;s diminishing influence could lead to a shift in the administration&#8217;s approach to intelligence and foreign policy. As a key figure in Trump&#8217;s 2024 coalition, Gabbard&#8217;s potential sidelining could also have political implications.



Read Next



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Image: Shutterstock/Maxim Elramsisy

Trump Publicly Contradicts DNI Gabbard's Claim That Iran Lacks Nuclear Capabilities: 'She's Wrong'

Elon Musk has leveled a public accusation against Sergio Gor, a senior aide to President Donald Trump, <a href="https://www.benzinga.com/news/politics/25/06/45827968/trump-vs-musk-betting-markets-anticipate-next-move-in-musk-trump-feud-predict-low-chances-of-musk-forming-political-party">alleging a federal crime</a>.



What Happened: Musk asserts that Gor, currently serving as the director of the presidential personnel office, falsified his birthplace on federal forms, a misstep Musk labels as a &#8220;serious crime.&#8221;



This accusation surfaces amidst a growing dispute between Musk and Gor, which Musk suggests has strained his relationship with President Trump.



The allegations from Musk were triggered by a series of social media posts by race car driver Igor Sushko, who labeled Gor as a &#8220;Russian spy.&#8221; Sushko had disseminated a New York Post story that cast doubt on Gor&#8217;s birthplace, among other articles.



<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">He deliberately lied about where he was born on Federal forms. That's a serious crime.&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1936106956634439911?ref_src=twsrc%5Etfw">June 20, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



At the heart of Musk&#8217;s allegation is his claim that Gor neglected to fill out his own SF-86, a vital vetting form needed for U.S security clearance. 



Also Read: <a href="https://www.benzinga.com/news/politics/25/06/45829416/trump-allegedly-calling-people-to-claim-elon-musk-has-serious-drug-problem-big-time-drug-addict">Trump Allegedly Calling People To Claim Elon Musk Has Serious Drug Problem: &#8216;Big-Time Drug Addict&#8217;</a>



This is despite Gor&#8217;s responsibility in&nbsp;vetting thousands of executive branch&nbsp;employees. The White House, however, maintains that Gor has completed the form and possesses the necessary clearance.



The conflict between Musk and Gor has been intensifying since Gor allegedly swayed Trump to retract the nomination of Musk&#8217;s friend, Jared Isaacman, for a leadership position at NASA. This event reportedly led to a rift between Musk and Trump, which has been under the public eye.



Why It Matters: The ongoing feud between Musk and Gor has significant implications, particularly considering Musk&#8217;s influential role in the tech industry and Gor&#8217;s position within the Trump administration. 



The fallout between Musk and Trump could potentially impact future collaborations between Musk&#8217;s companies and the federal government. 



Furthermore, the allegations against Gor, if proven true, could lead to serious legal consequences and shake up the current administration.



Read Next



<a href="https://www.benzinga.com/news/politics/25/06/45828246/trump-warns-musk-against-aiding-democrats-hell-have-to-pay-serious-consequences-if-he-does-that" target="_blank" rel="noreferrer noopener">Trump Warns Musk Against Aiding Democrats: ‘He'll Have To Pay Serious Consequences If He Does That'</a>



Image: Shutterstock

Elon Musk Levels Federal Crime Accusation Against Trump Aide Sergio Gor

Billionaire Mark Cuban has revealed that the Kamala Harris campaign sought to vet him for the 2024 Democratic vice presidential nomination, <a href="https://www.benzinga.com/news/politics/25/06/45829489/mark-cuban-reacts-to-elon-musk-donald-trump-feud">an offer he chose to decline</a>.



What Happened: Cuban, ex-owner of the Dallas Mavericks, was asked by the Harris campaign to submit vetting documents for the VP role. The billionaire confirmed the rumor during an interview on Friday.



Cuban justified his decision <a href="https://www.thebulwark.com/p/mark-cuban-harris-camp-asked-for">by</a> stating in the interview, &#8220;I&#8217;m not very good as the number two person.&#8221; He further confessed his discomfort with the traditional vice presidential duties of &#8220;shaking hands and kissing babies.&#8221;



While Cuban speculated that the Harris campaign would have taken a &#8220;different&#8221; direction with him as the VP pick instead of Gov. Tim Walz (D-Minn.), he also conceded that a Harris administration with him as VP would have been a disaster.



&#8220;She would have fired me&nbsp;within six days,&#8221; Cuban admitted.



Also Read:&nbsp;<a href="https://www.benzinga.com/news/politics/25/06/45828246/trump-warns-musk-against-aiding-democrats-hell-have-to-pay-serious-consequences-if-he-does-that" target="_blank" rel="noreferrer noopener">Trump Warns Musk Against Aiding Democrats: ‘He'll Have To Pay Serious Consequences If He Does That'</a>



Despite rejecting the VP offer, Cuban remained a staunch supporter of Harris, making appearances at her events in battleground states and handling press calls. 



He even proposed that Harris could nominate him to head bodies&nbsp;such as the Federal Trade&nbsp;Commission or the Securities and&nbsp;Exchange Commission.



Why It Matters: The revelation of Cuban&#8217;s declined VP vetting offer adds a new dimension to the political landscape. His candid remarks about his unsuitability for the role underscore the importance of personality fit in political partnerships.



Despite his refusal, Cuban&#8217;s active support for Harris and his openness to leading federal agencies suggest his ongoing interest in political involvement. 



This development could potentially influence future campaign strategies and candidate selections.



Read Next



<a href="https://www.benzinga.com/news/25/03/44235243/mark-cuban-once-questioned-whether-donald-trump-is-really-a-billionaire">Mark Cuban Once Questioned Whether Donald Trump Is Really a Billionaire</a>



Image: Shutterstock/miss.cabul

Social Media

Here's Why Mark Cuban Declined To Be Considered for Kamala Harris' VP

Reddit Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) is reportedly exploring a partnership with Tools for Humanity, the company behind Sam Altman's World ID and iris-scanning Orb, to offer anonymous but verified user identities.



What Happened: Reddit has been in talks with Tools for Humanity to integrate World ID, a biometric verification system powered by its Orb device, <a href="https://www.semafor.com/article/06/20/2025/reddit-considers-iris-scanning-orb-developed-by-a-sam-altman-startup">reported</a> Semafor, citing two people familiar with the matter.



The Orb scans a user's iris to confirm they are a unique human, offering proof of personhood without collecting personally identifiable information.



If implemented, World ID could become one of Reddit's third-party verification options, allowing users to confirm their identity anonymously amid growing concerns over bots, fake accounts and AI-generated content on social media platforms, the report added.



See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/25/06/45899111/apple-may-end-up-acquiring-perplexity-like-it-did-with-beats-in-2014-says-dan-ives-consumers-need-reasons-to-upgrade-as-iphone-maker-falls-way-behind-in-ai-race" target="_blank" rel="noreferrer noopener">Apple May End Up Acquiring Perplexity Like It Did With Beats In 2014, Says Dan Ives—Consumers Need ‘Reasons To Upgrade&#8217; As iPhone Maker Falls ‘Way Behind&#8217; In AI Race</a>



Why It&#8217;s Important: World ID is part of a broader initiative by Tools for Humanity—co-founded by OpenAI CEO Altman—to distribute cryptocurrency called Worldcoin in exchange for biometric verification, aiming to establish a universal digital identity system.



Earlier this month, it was reported that Reddit is gaining more visibility in Google's AI Overviews, becoming the second most-cited source after Quora, according to Semrush.



This boost is linked to Reddit's $60 million content licensing deal with Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google in 2024. However, analysts caution that the increased exposure may not lead to <a href="https://www.benzinga.com/markets/tech/25/06/45943729/reddit-is-the-second-most-cited-source-in-google-ai-overviews-but-logged-out-traffic-may-undercut-revenue-gains">significant revenue growth for Reddit</a>.



Benzinga&#8217;s Edge Stock Rankings indicate a consistent upward trajectory for Reddit across short, medium and long-term periods. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">More detailed performance data is available here</a>.



<figure class="wp-block-image aligncenter size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/21041653/Screenshot-2025-06-21-at-1.45.27%E2%80%AFPM.png" alt="" class="wp-image-956949"/></a></figure>



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<li><a href="https://www.benzinga.com/markets/equities/25/06/45889800/dow-jones-breaks-43000-palantir-hits-new-record-highs-whats-driving-markets-wednesday" target="_blank" rel="noreferrer noopener">Dow Jones Breaks 43,000, Palantir Hits New Record Highs: What&#8217;s Driving Markets Wednesday?</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Photo courtesy: Henry Franklin/Shutterstock

Tech

RDDT

Reddit Eyes Sam Altman's Iris-Scanning Orb To Verify Real Users Without Compromising Anonymity: Report

X has been working on its payment service for some time now and a new report has revealed that it also plans to include a physical debit card.



What Happened: The app&#8217;s recent updates reveal code strings indicating features like card activation, shipping status checks, and more, according to a report <a href="https://techcrunch.com/2025/06/20/x-app-code-points-to-a-physical-card-coming-to-x-money/">by</a> TechCrunch on Friday.



The new debit card, customizable with users&#8217; X usernames, is part of X&#8217;s broader strategy to compete with&nbsp;digital banks and payment services. The news follows&nbsp;Linda Yaccarino, X&#8217;s CEO, announcing a partnership with&nbsp;Visa&nbsp;for the X Money service,&nbsp;which will enable instant funding of&nbsp;X Wallet accounts via Visa&nbsp;Direct.



Yaccarino mentioned that this is the first of many announcements for X Money this year. The company has been securing&nbsp;money transmitter licenses across the&nbsp;U.S., now covering 40 states and Washington, D.C. The app&#8217;s code also hints at potential cashback and deferred debit features, and mentions support for&nbsp;MasterCard&nbsp;and&nbsp;Amex.



Also Read: <a href="https://www.benzinga.com/news/financing/25/06/46019534/elon-musks-x-plans-to-launch-in-app-stock-trading-to-challenge-robinhood-sofi-ceo-says-youll-whole-financial-life-could-be-on-the-platform">Elon Musk&#8217;s X Plans To Launch In-App Stock Trading To Challenge Robinhood, SoFi — CEO Says You&#8217;ll &#8216;Whole Financial Life&#8217; Could Be On The Platform</a>



Why It Matters: Elon Musk, owner of X, has long aimed to transform the app into an &#8220;everything app,&#8221; incorporating payments and banking. This aligns with his earlier ventures, including co-founding X.com, which evolved into PayPal . X plans to announce X Money later this year.



The introduction of a physical debit card is part of&nbsp;<a href="https://www.benzinga.com/25/01/43376448/elon-musks-x-money-to-see-about-600-million-active-monthly-users-via-visa-direct-integration">Elon Musk&#8217;s vision</a>&nbsp;for X as an all-encompassing financial platform. Earlier this year, it was revealed that X Money could potentially reach around 600 million active monthly users through its integration with Visa Direct, enhancing the platform&#8217;s capability for instant fund transfers.



Additionally, the move aligns with X&#8217;s broader strategy to offer a comprehensive suite of financial services, including <a href="https://www.benzinga.com/news/financing/25/06/46019534/elon-musks-x-plans-to-launch-in-app-stock-trading-to-challenge-robinhood-sofi-ceo-says-youll-whole-financial-life-could-be-on-the-platform">in-app stock trading</a>, which aims to challenge existing platforms like Robinhood Markets and SoFi Technologies. This initiative underscores X&#8217;s ambition to integrate users&#8217; entire financial lives into its ecosystem.



Furthermore, Musk&#8217;s push for a&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42806463/elon-musks-push-for-crypto-powered-everything-app-reflected-in-x-money-leak-as-bitcoin-hovers-around-100k">crypto-powered &#8220;everything app&#8221;</a>&nbsp;is reflected in&nbsp;the X Money service, which&nbsp;may include cryptocurrency features. This aligns with Musk&#8217;s longstanding interest in digital currencies and his previous ventures in the fintech space.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43534945/tangem-secures-us-patent-for-seedless-crypto-wallet-backup-technology">Tangem Secures US Patent For Seedless Crypto Wallet Backup Technology</a></li>
</ul>



Image Via Shutterstock



Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Elon Musk's X To Offer Physical Debit Cards As Part Of His 'Everything App' Vision: Report

Major cryptocurrencies are seeing red as markets cooled off from recent gains. 



Despite ongoing institutional accumulation, prices dipped following a technical rejection that triggered a wave of <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46027460/bitcoin-veteran-trader-goes-long-again-after-15-million-in-losses-will-third-time-be-the-ch">short-term caution</a>. As geopolitical tensions rise, market sentiment appears risk-off heading into the weekend.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>$103,120.56</td><td>-1.2%</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$2,408.11</td><td>-4.1%</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>$138.63</td><td>-4.8%</td></tr><tr><td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$2.11</td><td>-2.5%</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.1617</td><td>-5%</td></tr><tr><td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.00001127</td><td>-2.6%</td></tr></tbody></table></figure>



Notable Statistics:



<ul class="wp-block-list">
<li>IntoTheBlock data shows large transaction volume decreasing by 27.8% and daily active addresses falling by 2.5%. Transactions greater than $100,000 are down from 10,533 to 9,611 in a single day. Exchanges netflows are down by 741.9%.</li>



<li>Coinglass data reports 130,673 traders were liquidated in the past 24 hours, with the total liquidations at $467.69 million.</li>
</ul>



Notable Developments:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/25/06/46025230/why-a-public-healthcare-firm-wants-to-hold-more-bitcoin-than-most-countries">Why A Public Healthcare Firm Wants To Hold More Bitcoin Than Most Countries</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46019280/trump-connected-company-pulls-back-from-family-crypto-business">Trump-Connected Company Pulls Back From Family Crypto Business</a></li>



<li><a href="https://www.benzinga.com/etfs/sector-etfs/25/06/46024346/xrp-next-big-etf-bet-polymarket-bettors-predict">Why XRP Could Be The Next Big ETF Bet And What Polymarket Traders Know That You Don&#8217;t</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46025145/saks-stablecoin-bill-treasury-buying-trump-ties-cloud-push">Sacks Says New Bill Allows Stablecoins To Soak Up Trillions—But Trump Ties Cloud The Push</a></li>



<li><a href="https://www.benzinga.com/crypto/25/06/46021402/peter-schiff-says-he-intends-to-launch-gold-backed-stablecoins-deems-dollar-as-a-flawed-fiat-currency">Peter Schiff Says He Intends To Launch Gold-Backed Stablecoins, Deems Dollar As A &#8216;Flawed&#8217; Fiat Currency</a></li>



<li><a href="https://www.benzinga.com/news/social-media/25/06/46033842/did-tiktok-try-to-bribe-trump-with-300m-in-crypto-the-company-fires-back">Did TikTok Try to Bribe Trump With $300M In Crypto? The Company Fires Back</a></li>



<li><a href="https://www.benzinga.com/analyst-stock-ratings/initiation/25/06/46034000/circles-flagship-stablecoin-usdc-set-for-rapid-growth-analyst-says-regulatory-climate-key">Circle&#8217;s Flagship Stablecoin USDC Set For Rapid Growth, Analyst Says Regulatory Climate Key</a></li>
</ul>



Top Losers:



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>SPX6900 (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">SPX</a>)</td><td>$1.11</td><td>-16.8%</td></tr><tr><td>AB (CRYPTO: AB)</td><td>$0.01260</td><td>-12.7%</td></tr><tr><td>Sonic (CRYPTO: S)</td><td>$0.2816</td><td>-12.5%</td></tr></tbody></table></figure>



Trader Notes: CrediBULL Crypto <a href="https://x.com/CredibleCrypto/status/1936116976390152258">believes</a> Bitcoin may have bottomed at range lows, potentially forming a triple tap base. He's opened a long position, his first in weeks, expecting a bounce from the current green support zone. If this level breaks, the downside target is $94,000–$98,000, though he views both outcomes as technically healthy corrections.



Rekt Capital <a href="https://x.com/rektcapital/status/1936124289360523713">highlights</a> Bitcoin's continued defence of the $104,400 level, now holding for six straight weeks. All eyes are on the weekly close; a seventh consecutive hold would confirm this zone as a solid accumulation base and strengthen the case for near-term upside.



Michael van de Poppe notes that Bitcoin faced rejection at a key resistance, triggering a broader market correction. A liquidity sweep may be underway, creating the conditions for potential buy-the-dip setups. He advises patience and careful monitoring of support levels.



<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">Crucial level for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> did reject and we see the correction. I suppose we&#39;ll see more downside and a liquidity sweep taking place in the markets. Buy the dip opportunities. <a href="https://t.co/Lnb6yh9ujp">pic.twitter.com/Lnb6yh9ujp</a>&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1936100732731900393?ref_src=twsrc%5Etfw">June 20, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



ShardiB2 warns that Bitcoin, like the rest of the market, failed to hold important support levels, signaling fading momentum. With risk-off sentiment heading into the weekend, traders are cautious and reluctant to maintain long positions.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> Failed like the entire market&#8230; no one wants to be long into the weekend&#8230; <a href="https://t.co/H8ci36nOx5">pic.twitter.com/H8ci36nOx5</a>&mdash; Don&#39;t follow Shardi B if you hate Money (@ShardiB2) <a href="https://twitter.com/ShardiB2/status/1936073074723426772?ref_src=twsrc%5Etfw">June 20, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Read Next:&nbsp;



 • <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46036394/bitcoin-quietly-entered-a-new-era-in-march-heres-whats-really-behind-it">Bitcoin Quietly Entered A New Era In March: Here&#8217;s What&#8217;s Really Behind It</a>



Photo: Chinnapong via Shutterstock

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