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Argentina&#8217;s President Javier Milei has been cleared by the country&#8217;s Anti-Corruption Office in the controversial LIBRA memecoin scandal that eroded millions of dollars in investors&#8217; wealth.
What Happened: The anti-corruption office concluded that Milei&nbsp;was acting in &#8220;personal&nbsp;capacity&#8221; when he promoted the&nbsp;Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based cryptocurrency via his X post and &#8220;did not violate&#8221; the the Public Ethics Law that governs public officials in the country, according to a translated statement.
&#8220;That, in summary, said post, not connected with administrative acts, without allocation of public resources, nor institutional support, should be interpreted as an act of individual or private communication that has not generated an official direction of public policies of any kind.&#8221;
See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/03/44450232/white-house-says-gold-reserves-may-be-used-to-purchase-bitcoin" target="_blank" rel="noreferrer noopener">White House Says Gold Reserves May Be Used to Purchase Bitcoin</a>
Why It Matters: This scandal has been a significant point of contention in Argentina&#8217;s political landscape. In April, Argentina&#8217;s Chamber of Deputies approved a probe into the <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44706269/argentinas-congress-approves-investigation-of-scam-ridden-libra-token-promoted-by-president-javier-milei">scam-tainted token</a>. The lower house voted in favor of three draft resolutions, including the creation of an investigative commission, the questioning of executive branch officials, and a request for information from the government.
However, last month, the Argentine government <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45526856/javier-milei-adjacent-meme-coin-no-longer-being-investigated-what-happened">officially disbanded</a> the Unidad de Tareas de Investigación, a special unit formed to examine Milei&#8217;s alleged connections to the controversial meme coin, after the unit concluded its inquiry and submitted its findings to the public prosecutor&#8217;s office.
Milei&nbsp;<a href="https://in.benzinga.com/25/02/43769603/argentinas-stock-market-plummets-amid-milei-meme-coin-controversy" target="_blank" rel="noreferrer noopener">publicly endorsed</a>&nbsp;the LIBRA token in February, causing it to gain billions in market capitalization, only to crash 90% within the next few hours. As of this writing, the token was down 99% from its peak.
The crash sparked allegations of a rug pull, with a&nbsp;<a href="https://in.benzinga.com/news/global/25/03/44296984/libra-token-fallout-argentine-lawyer-demands-extradition-of-project-creator-from-us" target="_blank" rel="noreferrer noopener">renowned Argentine lawyer&nbsp;</a>demanding the international arrest of&nbsp;Hayden Davis,&nbsp;a U.S.-based cryptocurrency entrepreneur allegedly involved in the token launch. 
Milei said that he never promoted the coin, and anyone who invested in the coin did so voluntarily.
Benzinga Note: Investing in meme coins is highly speculative and involves significant risk. Meme coins often lack intrinsic value and are driven by market sentiment, social media trends, and speculative trading
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://benzinga.com/crypto/cryptocurrency/25/06/45830251/elon-musks-political-party-to-launch-in-2025-odds-rise-on-polymarket-the-crypto-betting-market-now-partnered-with-x" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s Political Party To Launch In 2025? Odds Rise On Polymarket, The Crypto Betting Market Now Partnered With X</a></li>
</ul>
Photo Courtesy: Matias Lynch on Shutterstock.com
Disclaimer:&nbsp;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.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

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

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$SOL

Javier Milei Acted In 'Personal Capacity' And Didn't Violate The Law: Argentina's Anti Corruption Office Clears President In Solana-Based LIBRA Memecoin Scandal

Leading cryptocurrencies were little changed Sunday ahead of the trade negotiations between officials of U.S. and China in London.
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th>Cryptocurrency</th>
<th>Gains +/-</th>
<th>Price (Recorded at 9:15 p.m. ET)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+0.14%</td>
<td>$105,734.18</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-0.44%</td>
<td>$2,503.70</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+0.29%</td>
<td>$0.1882</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin spiked above $106,000 in the evening, only to correct to the $105,000 region overnight.&nbsp;
Ethereum experienced a similar trajectory, bumping an intraday high of $2,547.47 before correcting later in the evening.
Bitcoin enjoyed a 63.7% share of the market as of this writing, while Ethereum's dominance remained above 9%.
About $107 million was liquidated from the cryptocurrency market in the last 24 hours, with nearly equal amounts of longs and shorts wiped out. That said, nearly $350 million worth of bearish bets on Bitcoin risked liquidation if the apex cryptocurrency rallies to $108,000
Bitcoin's Open Interest dipped by 0.50% in the last 24 hours. Interestingly, nearly 60% of Binance traders with open BTC positions were positioned short, anticipating further downsides.
The "Greed" sentiment showed a reading of 62, according to the Crypto Fear &amp; Greed Index, unchanged in the last 24 hours.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th>Cryptocurrency</th>
<th>Gains +/-</th>
<th>Price (Recorded at 9:15 p.m. ET)</th>
</tr>
</thead>
<tbody>
<tr>
<td>SPX6900 (SPX)</td>
<td>+9.44%</td>
<td>$1.26</td>
</tr>
<tr>
<td>Internal Computer (ICP) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+6.34%</td>
<td>$5.53</td>
</tr>
<tr>
<td>Raydium (RAY)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+6.03%</td>
<td>$2.29 </td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.3 trillion, following a modest increase of 0.30% in the last 24 hours.&nbsp;
Stock futures inched lower overnight Sunday. The Dow Jones Industrial Average Futures fell 47 points, or 0.11%, as of 9:24 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 dipped 0.15%, while Nasdaq 100 Futures slid 0.23%.
Investors brace for a big week ahead as officials from the U.S. and China are <a href="https://truthsocial.com/@realDonaldTrump/posts/114637838750311907">expected</a> to hold trade talks on Monday.&nbsp;
The week will also see a slew of inflation-related data, including the consumer price index and the producer price index.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Cryptocurrency analyst and trader Rekt Capital noted that Bitcoin has broken its two-week downtrend.
"Now, Bitcoin is trying to challenge the $106,600 resistance (black). Some light rejection here would be normal. But the goal is for Bitcoin to daily close above black for continued bullish bias," the analyst added.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> Bitcoin has broken its two-week Downtrend (light blue) Now, Bitcoin is trying to challenge the $106600 resistance (black) Some light rejection here would be normal But the goal is for Bitcoin to Daily Close above black for continued bullish bias<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/mDiZnYvT6N">https://t.co/mDiZnYvT6N</a> <a href="https://t.co/6xmlK5Y3g5">pic.twitter.com/6xmlK5Y3g5</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1931766314093146268?ref_src=twsrc%5Etfw">June 8, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Another widely followed commentator, Michaël van de Poppe, said a pullback to $103,000 could be a "tremendous opportunity" to buy more Bitcoin.
"Above $106,000 is an elevator towards a new ATH and likely $120,000+ in Q3," the analyst projected.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> prepares itself for the next rally towards a new ATH. If the markets corrects to $103K, that&#39;s a tremendous opportunity to get yourself some more Bitcoin. Above $106K is an elevator towards a new ATH and likely $120k+ in Q3. <a href="https://t.co/tpgyRJCCPq">pic.twitter.com/tpgyRJCCPq</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1931731694832206129?ref_src=twsrc%5Etfw">June 8, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo Courtesy: Antonio Gravante On Shutterstock.com
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
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<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45777944/jpmorgan-to-accept-crypto-linked-etfs-as-loan-collateral">JPMorgan To Accept Crypto-Linked ETFs As Loan Collateral</a></li>
</ul>

Movers

Trading Ideas

$BTC

$DOGE

$ETH

Bitcoin, Dogecoin Flat, Ethereum Dips Ahead Of US-China Trade Talks: $106,000 An Elevator Toward A New BTC All-Time High, Says Analyst

New figures from U.S. equity markets indicate a troubling trend, as foreign investors pull back amid mounting uncertainties and persistent volatility over the past two months.
What Happened: On Sunday, popular investment newsletter, The Kobeissi Letter, posted on X, citing Goldman Sachs data, showed that foreign investors pulled $37 billion from U.S. equities in May, marking the second consecutive month of outflows following a $7 billion withdrawal in April.
This sharp pullback, which also marks the biggest monthly outflow in at least a year, comes amid tariffs and trade tensions that continue to persist, over two months into President Donald Trump&#8217;s &#8220;Liberation Day&#8221; announcements.
See Also: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45830251/elon-musks-political-party-to-launch-in-2025-odds-rise-on-polymarket-the-crypto-betting-market-now-partnered-with-x">Elon Musk&#8217;s Political Party To Launch In 2025? Odds Rise On Polymarket, The Crypto Betting Market Now Partnered With X</a>
Despite a strong domestic equity rally following the temporary 90-day easing of trade tensions starting April 10, overseas capital continues to rotate out of American markets. The year-to-date tally now sits at a net $31 billion in outflows, showing a sharp reversal in sentiment, compared ot $201 billion in net inflows between just November and December last year.
This comes as the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the S&amp;P 500, the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) for the Nasdaq, and the SPDR Dow Jones Industrial Average ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) witnessed strong recoveries over the past two months, and are up 2.48%, 3.86%, and 1.08% year-to-date, respectively.
This exodus suggests that macro risks, including geopolitical instability, currency fluctuations, and concern over U.S. trade and fiscal policy, are all outweighing near-term market optimism. 
&#8220;Foreigners are rotating out of US stocks,&#8221; the post concludes, highlighting the divergence being seen between investor sentiments domestically and abroad.
<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">BREAKING: Foreign investors withdrew a net -$37 billion out of US equities in May, the most in at least 12 months, according to Goldman Sachs. This marks the 2nd consecutive monthly net withdrawal after -$7 billion in April. Year-to-date, foreign investors have withdrawn a net… <a href="https://t.co/LZ4J52a7be">pic.twitter.com/LZ4J52a7be</a>
&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1931425677502230658?ref_src=twsrc%5Etfw">June 7, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Economist Peter Schiff, who&#8217;s been a vocal critic of Trump&#8217;s tariffs, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44883642/peter-schiff-rings-alarm-after-foreign-investors-dump-6-5-billion-in-us-equities-in-a-week-quips-trump-thought-tariffs-would-bring-capital-into-america">pointed out the irony</a> of these outflows way back in April, saying that &#8220;Trump thought tariffs would bring capital into America. Instead, it triggered a global run out of U.S. assets.&#8221;
This shift is also visible among domestic investors, with international ETFs such as the&nbsp;Schwab International Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHF#NYSE">SCHF</a>) and the Vanguard Total International Stock Index Fund ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VXUS#NASDAQ">VXUS</a>), soaring 18.55% and 15.60% year-to-date, respectively, <a href="https://www.benzinga.com/25/05/45550710/investors-ditch-us-stocks-as-international-etfs-hit-52-week-highs-heres-whats-driving-the-portfolio-pivot">hitting their 52-week highs</a> in recent weeks.
Photo Courtesy: Gsign76 On Shutterstock.com
Read More:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/personal-finance/financial-advisors/25/06/45829535/retirement-savers-arent-backing-down-despite-market-swings">Retirement Savers Aren&#8217;t Backing Down Despite Market Swings</a></li>
</ul>

Equities

SPDR Dow Jones Industrial Average ETF Trust

SCHF

VXUS

Foreign Investors Pull $37 Billion From US Stocks In May—Largest Monthly Exit In A Year: Exodus Amid Market Recovery, 90-Day Tariff Pause

Florida Governor Ron DeSantis (R) criticized California state officials for their handling of recent unrest in the state, citing the Miami Beach spring break as an example of effective problem-solving.
What Happened: Sunday, DeSantis said on X, &#8220;Not surprising to see CA state officials living in a leftist information bubble. Miami Beach spring break is a great example of responding to a problem and fixing it.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Not surprising to see CA state officials living in a leftist information bubble. Miami Beach spring break is a great example of responding to a problem and fixing it. <a href="https://t.co/cHfhhGxFZt">https://t.co/cHfhhGxFZt</a>
&mdash; Ron DeSantis (@GovRonDeSantis) <a href="https://twitter.com/GovRonDeSantis/status/1931875251631071355?ref_src=twsrc%5Etfw">June 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Spring break is a week-long vacation period, typically from late February to mid-April, when U.S. college students flock to warm-weather destinations—especially Florida—for sun, partying, and relaxation. It originated in the 1930s as a swim team training trip and evolved into a massive party tradition, peaking in places like Fort Lauderdale and later spreading to cities across Florida and beyond. Notably, DeSantis highlighted his efforts to &#8220;promote law and order&#8221; during spring break in Florida in a statement this March. He deployed 100 state troopers and additional law enforcement resources, including drones and K9 units, to support local agencies during spring break and prevent lawlessness, continuing last year&#8217;s efforts to ensure public safety. See Also: <a href="https://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: &#8216;He&#8217;ll Have To Pay Serious Consequences If He Does That&#8217;</a>
However, DeSantis&#8217; comment comes in the context of ongoing tensions in California, where the deployment of the National Guard has sparked controversy.
Why It Matters: California Governor Gavin Newsom (D) had previously called the deployment of National Guard troops in Los Angeles &#8216;unlawful,&#8217; arguing that it was a <a href="https://www.benzinga.com/news/politics/25/06/45830221/gavin-newsom-calls-deployment-of-national-guard-in-los-angeles-unlawful-says-there-was-no-problem-until-trump-got-involved-serious-breach-of-state-sovereignty">violation of the state's sovereignty</a> and that the actions of President Donald Trump only exacerbated tensions amid ongoing protests. 
Newsom and DeSantis have had a history of public disagreements. In a live televised debate in 2023, Newsom <a href="https://www.benzinga.com/news/23/11/36036851/gavin-newsom-takes-a-dig-at-ron-desantis-in-tv-debate-neither-of-us-will-be-the-nominee-for-our-part">took a jab</a> at DeSantis, asserting that neither of them would secure their respective party's presidential nomination in 2024.
Newsom also suggested that DeSantis <a href="https://www.benzinga.com/news/23/09/34964420/gavin-newsom-believes-ron-desantis-regrets-running-for-president-he-took-the-bait">regretted his decision</a> to run for the presidency, a claim DeSantis has not publicly addressed.
Photo Courtesy: Andrew Cline on Shutterstock.com
Check This Out:
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<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

General

Ron Desantis Takes A Dig At California, Says State Officials Living In A 'Leftist Information Bubble' Amid Unrest — Spring Break Crackdown A Model Response, Says Florida Governor

The idea that tech mogul Elon Musk may start his own political party this year is finding some backing from cryptocurrency bookmakers.
What happened: The odds that the Tesla and SpaceX CEO would create a political party in 2025 <a href="https://polymarket.com/event/will-elon-musk-create-a-new-political-party-by">rose</a> to 17% on the decentralized prediction market Polymarket. In fact, the probability that he launches a party as early as June was 7% as of this writing, up 2% in the last 24 hours.
More than $416 million has already been wagered on the June bet. Should Musk make an "explicit" official announcement, the market will resolve to "Yes."
Polymarket, based on Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">POL</a>), allows users to buy "Yes" and "No" shares in USD Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>). The shares representing the correct outcome are paid out $1 USDC each upon market resolution.
It's worth noting that Polymarket is not <a href="https://www.benzinga.com/24/11/41838037/will-polymarket-return-to-the-us-after-getting-trump-victory-right-ceo-says-its-part-of-the-plan">available to U.S. residents</a> due to regulatory restrictions.
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45740537/forget-dollars-willy-woo-says-bitcoin-will-be-priced-against-global-gdp-gold-used-to-be-that-money-btc-is-the-challenger">Forget Dollars: Willy Woo Says Bitcoin Will Be Priced Against Global GDP — &#8216;Gold Used To Be That Money, BTC Is The Challenger&#8217;</a>
Why It Matters: These odds come amid an <a href="https://www.benzinga.com/news/politics/25/06/45829875/elon-musk-reportedly-slammed-into-scott-bessent-like-a-rugby-player-after-being-called-a-fraud-trump-said-this-is-too-much">escalating public feud</a> with Musk and President Donald Trump.&nbsp;
The fallout has turned ugly, with Musk accusing the Trump administration of withholding documents related to Jeffrey Epstein. Trump responded by calling Musk "crazy" and threatening to cancel federal contracts and subsidies awarded to Musk's businesses.
Notably, Musk suggested the idea of <a href="https://www.benzinga.com/news/politics/25/06/45807476/mark-cuban-check-marks-elon-musks-idea-of-a-new-political-party-that-represents-the-middle">creating a new party</a> in the U.S. that caters to the &#8220;80% in the middle.&#8221;
Last week, Musk's X announced an official partnership through which Polymarket will serve as its official prediction market partner. As part of the partnership, Polymarket predictions will be combined with &#120143; data to provide live insights.
<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">Proud to announce <a href="https://twitter.com/Polymarket?ref_src=twsrc%5Etfw">@Polymarket</a>'s partnership with <a href="https://twitter.com/X?ref_src=twsrc%5Etfw">@X</a> and <a href="https://twitter.com/xai?ref_src=twsrc%5Etfw">@xai</a> as their Official Prediction Market Partner. The two top truth seeking apps on the internet are stronger together. Welcome to News 2.0. Stay tuned <a href="https://t.co/P6Xd7yKlmt">https://t.co/P6Xd7yKlmt</a>
&mdash; Shayne Coplan &#x1f985; (@shayne_coplan) <a href="https://twitter.com/shayne_coplan/status/1931008087688614155?ref_src=twsrc%5Etfw">June 6, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo Courtesy: Frederic Legrand &#8211; COMEO on Shutterstock.com
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45739199/american-politicians-dont-believe-bitcoin-can-co-exist-peacefully-with-the-dollar-says-this-popular-btc-maximalist-heres-why">American Politicians Don&#8217;t Believe Bitcoin Can &#8216;Co-Exist Peacefully&#8217; With The Dollar, Says This Popular BTC Maximalist: Here&#8217;s Why</a></li>
</ul>

Tech

$POL

$USDC

Elon Musk's Political Party To Launch In 2025? Odds Rise On Polymarket, The Crypto Betting Market Now Partnered With X

On Sunday, California Governor Gavin Newsom called on President Donald Trump to rescind the deployment of National Guard troops in Los Angeles, arguing that it is a violation of the state&#8217;s sovereignty and only exacerbates tensions amid ongoing protests.
What Happened: Newsom&#8217;s request came after law enforcement officers in Los Angeles used tear gas and rubber bullets against protesters in response to the Trump administration's decision to send federal troops into the city, <a href="https://apnews.com/article/immigration-protests-raids-los-angeles-78eaba714dbdd322715bf7650fb543d7">reported</a> the Associated Press.
The deployment, which included around 300 National Guard members, was part of Trump&#8217;s broader effort to crack down on immigration protests.
In a statement on X, formerly Twitter, Newsom said, "I have formally requested the Trump Administration rescind their unlawful deployment of troops in Los Angeles county and return them to my command."&nbsp;
"We didn't have a problem until Trump got involved. This is a serious breach of state sovereignty — inflaming tensions while pulling resources from where they're actually needed," he continued, adding, "Rescind the order. Return control to California."
See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/25/05/45187535/scott-bessent-defends-trumps-economic-agenda-as-engine-designed-to-drive-economic-growth-despite-gdp-contraction-and-falling-approval" target="_blank" rel="noreferrer noopener">Scott Bessent Defends Trump's Economic Agenda As ‘Engine Designed To Drive Economic Growth,' Despite GDP Contraction And Falling Approval</a>
<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">I have formally requested the Trump Administration rescind their unlawful deployment of troops in Los Angeles county and return them to my command. We didn't have a problem until Trump got involved. This is a serious breach of state sovereignty — inflaming tensions while… <a href="https://t.co/tOtA5dcfxc">pic.twitter.com/tOtA5dcfxc</a>
&mdash; Gavin Newsom (@GavinNewsom) <a href="https://twitter.com/GavinNewsom/status/1931840646773715068?ref_src=twsrc%5Etfw">June 8, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Earlier, Trump took to Truth Social and stated, "A once great American City, Los Angeles, has been invaded and occupied by <a href="https://www.benzinga.com/news/25/05/45188594/trump-says-i-dont-know-when-asked-if-he-has-to-uphold-the-constitution-when-it-comes-to-mass-deportations">Illegal Aliens and Criminals</a>," adding, "Order will be restored, the Illegals will be expelled, and Los Angeles will be set free."
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/08211156/Screenshot-2025-06-09-at-6.41.47%E2%80%AFAM-1024x705.png" alt="" class="wp-image-942495" /><figcaption class="wp-element-caption">Source: Truth Social </figcaption></figure>
Why It's Important: The National Guard was deployed after two days of protests that started on Friday in downtown Los Angeles and expanded by Saturday to Paramount — a predominantly Latino community south of the city — and nearby Compton, the report noted, accoridng to the Press.
On Saturday, federal agents established a staging point near a Home Depot in Paramount. Protesters attempted to obstruct Border Patrol vehicles, with some throwing rocks and chunks of concrete.
In response, agents in riot gear used tear gas, flash-bang grenades and pepper balls to disperse the crowd.
Trump has defended the deployment, stating it was necessary due to what he described as Democratic leaders like Governor Newsom failing to control demonstrations aimed at immigration authorities, the report said.
This marked what appeared to be the first instance in decades where the National Guard was activated in a state without the governor&#8217;s approval.
The last such federal activation of the National Guard without a governor's consent occurred in 1965, when President Lyndon B. Johnson sent troops to protect civil rights marchers in Alabama, the report noted, citing Brennan Center for Justice.
Photo Courtesy: Sheila Fitzgerald on Shuttertsock.com
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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.

Government

Regulations

Media

Gavin Newsom Calls Deployment Of National Guard In Los Angeles 'Unlawful,' Says There Was No Problem Until Trump Got Involved: 'Serious Breach Of State Sovereignty'

Shopping centers and malls are diversifying and getting creative to maintain high foot traffic. The days of <a href="https://www.benzinga.com/real-estate/25/01/42948944/the-lowly-strip-mall-is-becoming-retail-hot-property-as-name-brand-stores-go-out-of-business">legacy tenants</a> such as Bed Bath &amp; Beyond, Filene&#8217;s Basement, Modell&#8217;s and Party City are long gone. Instead, experiential businesses have taken their place, according to a report by<a href="https://www.costar.com/article/479813181/from-doggy-day-care-to-ethnic-grocers-a-wave-of-fresh-retailers-expands"> CoStar News</a>.&nbsp;
While experiential businesses have often been associated with nail and hair salons and restaurants, the type of retailers now occupying U.S. shopping centers has diversified to cover any operation that requires an in-person visit. CoStar reports those businesses now include pet groomers and doggy day care spaces, golf simulator clubs and even an IV drip center, all of which ply their trade alongside fast food and grocery stores like <a href="https://www.benzinga.com/startups/24/12/42443923/at-that-age-you-dont-think-you-can-fail-peter-cancros-journey-from-slicing-subs-to-an-8-billion-jersey-mikes-deal">Jersey Mike&#8217;s</a>, Panda Express and Whole Foods.
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<h2 class="wp-block-heading">A More Agile Retail Environment</h2>
The growing trend in experiential retail centers around wellness, healthcare, fitness, recreational sports, pets, and kids. According to<a href="https://www.forbes.com/sites/brinsnelling/2025/01/22/the-trends-reshaping-retail-expansion-in-2025/"> Forbes</a>, at the start of the year, CoStar data showed successful retail centers were able to pivot to embrace new shopping trends. This meant smaller store sizes, experiential retail, and stores that catered to their geographic location, using data to inform site selection.
&#8220;There&#8217;s a shift to smaller in general – smaller formats, shorter leases, more agile environments,&#8221; Melissa Gonzalez, principal at MG2, told Forbes. &#8220;What is the point of the store? It&#8217;s not about inventory now, especially as consumers are getting more and more comfortable shopping online. We&#8217;re reevaluating the point of the store and how much of it needs to be about inventory per square foot versus experience per square foot."
Fitness brands such as Lululemon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) now include fitness classes and wellness areas in their stores, Forbes reports. Outdoor shoe brand Sorel&#8217;s Williamsburg, Brooklyn pop store offered customers an augmented reality experience in which they interacted with different weather conditions.
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>.
<h2 class="wp-block-heading">A Covid Seachange</h2>
The COVID-19 pandemic turned the retail industry on its head. E-commerce shuttered conventional stores, and vacant spaces were filled with stores that fostered the new reality of the American consumer after the traumatizing effects of the pandemic — a greater focus on health and wellness and a place to get the pets homeowners had acquired during lockdown treated and then looked after when hybrid work conditions were imposed, CoStar reports. Equally, ethnic-style food markets, typified by H Mart, have emerged, catering to customers with a sense of culinary adventure who wish to branch out from the usual dishes they prepare at home.
&#8220;Coming out of COVID, the breadth and depth of — we don&#8217;t even call them retailers anymore, it&#8217;s really users — has expanded tremendously,&#8221; Doug Healey,<a href="https://investing.macerich.com/static-files/4848af1f-4ab8-418e-be3b-2c577ba27f39"> Macerich</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>) senior executive vice president of leasing, said on a<a href="https://www.investing.com/news/transcripts/earnings-call-transcript-macerich-q1-2025-results-miss-forecasts-stock-rises-93CH-4039738"> recent earnings call</a>. &#8220;So when we talk about leasing, there are the key legacy retailers. They&#8217;ll always be a part of our shopping centers. But you&#8217;re also looking at digitally native and emerging brands, international brands, food and beverage, restaurant, medical, entertainment, electric vehicles, fitness, home furnishings, groceries. So the uses that we have to choose from are really unprecedented today.&#8221;
See Also: <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.
<h2 class="wp-block-heading">New Retail Trends</h2>
At the recent<a href="https://www.icsc.com/attend-and-learn/events/details/las-vegas-2025"> International Council of Shopping Centers</a> conference in Las Vegas, a session called &#8220;The Next Big Retail Categories&#8221; discussed emerging sectors in retail, all of which had an experiential element. These included second-hand thrift-like stores, capitalizing on the appeal of vintage apparel, especially to teens. &#8220;Medtail&#8221; stores focusing on wellness and medical providers, exemplified by chains such as Restore Hyper Wellness, which offers drips delivering hydration, electrolytes, nutrients, and more. Spas such as Freeze &amp; Float in Chicago offer customers the opportunity to experience hot and cold therapy treatments.
&#8220;Healthcare providers are seeking retail locations to improve patient accessibility, with location/ proximity being the second most important factor for patients choosing a provider,&#8221; commercial real estate brokerage Jones Lang LaSalle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JLL#NYSE">JLL</a>) said in a <a href="https://www.jll.com/en-us/insights/medtail-in-transition">recent report</a> on medtail. &#8220;There&#8217;s a growing trend in wellness and preventative care services, especially in affluent areas, with concepts like IV drip clinics expanding into retail locations.&#8221;
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Image: Shutterstock

LULU

Experiential Retail Is Transforming American Malls With Pet Groomers And Doggy Daycare, IV Drips, And Specialty Grocers

Dave Ramsey says he genuinely loves his dog more than most people. In a recent <a href="https://x.com/DaveRamsey/status/1930620601753809185">post on X</a>, the personal finance expert shared, &#8220;I&#8217;ve got a little Havanese bear dog, it&#8217;s 12 pounds. I truly prefer this dog to most people, I really do.&#8221;
<h2 class="wp-block-heading">Loving Dogs Doesn't Mean Losing Common Sense</h2>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I LOVE my dog. Honestly, I prefer him to most people. So I get it. Saying goodbye is brutal. <a href="https://t.co/dmTCQ3rpa9">pic.twitter.com/dmTCQ3rpa9</a>
&mdash; Dave Ramsey (@DaveRamsey) <a href="https://twitter.com/DaveRamsey/status/1930620601753809185?ref_src=twsrc%5Etfw">June 5, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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But Ramsey didn't stop there. He pointed out that many dog lovers let their emotions take over when it comes to their pets' medical care. &#8220;We spend $8,000 to keep the dog alive while the dog is suffering, and it&#8217;s not fair to the dog,&#8221; he said. &#8220;Most of the time, this is about the person, not the dog.&#8221;
Ramsey admitted he's faced this tough choice himself, having had to put dogs down. &#8220;I&#8217;ve sat there and cried, sobbed while the vet puts one of them down. But that requires more courage than prolonging the dog&#8217;s life and letting it suffer,&#8221; he said.&nbsp;
The core of his message: love your dog, but don't let guilt or fear justify irresponsible spending. He suggested that how much you spend should depend on what you can reasonably afford. &#8220;Do I go $14,000 in debt to put new hips into a Labrador retriever? No, you do not,&#8221; he emphasized.
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<h2 class="wp-block-heading">Vet Bills Can Spiral Fast</h2>
His comments reflect a broader financial truth—tough decisions often arise when pets become seriously ill or injured, and the <a href="https://www.benzinga.com/money/insurance/pet-insurance">costs can be staggering</a>.
A recent <a href="https://www.metlifepetinsurance.com/blog/pet-health/dog-health-problems/">article</a> by MetLife (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>) laid out just how expensive dog health issues can be:
<ul class="wp-block-list">
<li>Intervertebral disc disease: up to $12,000</li>
<li>Bloat: $8,000+</li>
<li>Cancer treatments: $8,000+</li>
<li>Intestinal blockage surgery: up to $7,000</li>
<li>Hip dysplasia: up to $6,000</li>
<li>Cruciate ligament tear: $5,000+</li>
<li>Broken bones: $2,400 to $8,000</li>
<li>Poisoning or toxicity: up to $5,000</li>
</ul>
According to MetLife, some dog breeds are more prone to expensive issues than others. Cavalier King Charles spaniels, bulldogs, dachshunds and Great Danes, for instance, tend to have more health problems. Breeds like poodles, beagles, border collies and Havanese – – like Ramsey&#8217;s own dog – tend to be healthier overall.
See Also: <a href="https://www.benzinga.com/money/this-ai-imaging-technology-has-been-used-in-more-than-500-surgeries-now-you-can-be-part-of-the-ai-imaging-revolution">Be part of the next med-tech breakthrough for only $350 — 500+ surgeries already done with nView's AI system.</a>
Ramsey agrees with treating pets when it makes sense. &#8220;If we can actually <a href="https://www.benzinga.com/money/understanding-emergency-pet-insurance-coverage">fix the animal</a>, well, sure, we would spend some money on it,&#8221; he said. But he stressed that it should never come at the cost of financial ruin or prolonging a pet&#8217;s suffering.
&#8220;They have a lifespan of 10, 12 years, maybe. So we outlive 10 or 12 of them if you live to be 70 years old,&#8221; he said. &#8220;You kind of got to get that built into the system here and not put the poor animal through suffering because you&#8217;re a big baby and you can&#8217;t cry.&#8221;
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

Dave Ramsey Prefers His Dog To Most People, But He's Clear On One Thing—You Don't Go '$14,000 In Debt To Put New Hips In A Labrador'

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is poised to unveil a groundbreaking software design, dubbed &#8220;Liquid Glass,&#8221; at its upcoming Worldwide Developers Conference.
Bloomberg&#8217;s&nbsp;Mark Gurman,&nbsp;in his&nbsp;<a href="https://www.bloomberg.com/news/newsletters/2025-06-08/apple-s-liquid-glass-ios-26-software-redesign-to-hint-at-20th-anniversary-iphone-mbnm2u0d?srnd=undefined&amp;sref=TBDibEcD">latest</a>&nbsp;weekly &#8220;Power On" report revealed that, the innovative interface, which will be incorporated into the forthcoming iOS 26, is a significant departure from the existing &#8220;flat design&#8221;. 
It will feature a glossy, translucent aesthetic, akin to a glass surface, and will be consistent across all of Apple&#8217;s operating systems, including&nbsp;iPadOS 26, tvOS 26, visionOS&nbsp;26, watchOS 26, macOS 26, and CarPlay.
Alan Dye, Apple&#8217;s&nbsp;vice president of human interface, is slated to discuss the transition at the conference. The &#8220;Liquid Glass&#8221; interface is also expected to lay the groundwork for new hardware products, including a 20th-anniversary iPhone, internally known as the &#8220;Glasswing&#8221;, which is set to launch in 2027.
Also Read: <a href="https://www.benzinga.com/news/topics/25/06/45712700/apples-ai-struggles-to-keep-pace-with-rivals-ahead-of-wwdc-2025">Apple&#8217;s AI Struggles To Keep Pace With Rivals Ahead Of WWDC 2025</a>
The &#8220;Glasswing&#8221; will boast curved glass sides and incredibly slim bezels.&nbsp;The Liquid Glass interface is&nbsp;considered the highlight of this year&#8217;s developer conference.
Besides the interface revamp, Apple is gearing up for its annual back-to-school offer, which is set to kick off on June 17. The tech giant is also planning to broaden&nbsp;iPhone carrier promotions in its&nbsp;retail stores from June 26.
The introduction of the &#8220;Liquid Glass&#8221; interface marks a significant milestone in Apple&#8217;s design evolution. This shift not only enhances the visual appeal of Apple&#8217;s software but also paves the way for future hardware innovations. 
The anticipation surrounding the 20th-anniversary iPhone, coupled with the new interface, underscores Apple&#8217;s commitment to maintaining its leading edge in the tech industry.
Read Next
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Image: Shutterstock/Xeniia X

AAPL

Apple's Liquid Glass Interface Set To Revolutionize iOS 26, Hints At 20th Anniversary iPhone

The ongoing public spat&nbsp;between President Donald Trump and&nbsp;billionaire Elon Musk looks like has taken a pause.
What Happened: Two White House officials have confirmed that the public disagreements between Trump and Musk have been put on hold. 
The feud included Musk suggesting impeachment for Trump and Trump threatening to terminate federal contracts for Musk&#8217;s companies. The future of their relationship, however, remains uncertain, <a href="https://www.politico.com/news/2025/06/08/musk-trump-ceasefire-call-00393527">reports</a> Politico. 
"The future of their relationship is totally uncertain," added the White House official, who requested to remain anonymous. 
Trump was particularly irked by Musk&#8217;s insinuation of his association with&nbsp;the late sex offender Jeffrey&nbsp;Epstein, and Musk&#8217;s assertion that Trump&#8217;s victory was due to his support, including substantial political contributions.
The feud escalated amidst Trump and Republican leaders&#8217; efforts to pass a significant domestic policy legislation. Musk criticized the bill for containing a &#8220;MOUNTAIN of DISGUSTING PORK&#8221;.
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>
The relationship began to sour&nbsp;even before the social media clash last week, with Trump expressing dissatisfaction over Musk&#8217;s focus on DOGE&#8217;s inability to make substantial&nbsp;cuts in the federal bureaucracy.
The White House&#8217;s decision to withdraw&nbsp;the nomination for Jared Isaacman,&nbsp;Musk&#8217;s choice to lead NASA, further strained the relationship. 
Musk&#8217;s refusal to cooperate with&nbsp;White House personnel director Sergio&nbsp;Gor added to the tension.
Why It Matters: The public feud between two of the most influential figures in the U.S. has drawn considerable attention. 
The disagreement has implications for Musk&#8217;s companies, particularly if Trump follows through on his threat to end federal contracts. 
Furthermore, the spat has the potential to impact domestic policy legislation and the future of NASA, given Musk&#8217;s significant influence in the space industry.
The temporary ceasefire may provide an opportunity for both parties to reassess their relationship and potentially find common ground. 
However, with the future of their relationship still uncertain, it remains to be seen how this will unfold.
Read Next
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Image: Shutterstock

Trump and Musk Aides Have Spoken as Tensions Cool Between the Billionaire and the President

If you've ever made one well-meaning money decision that <a href="https://www.benzinga.com/personal-finance/25/04/44595316/dave-ramseys-honest-take-on-caller-who-got-dumped-for-working-too-much-im-not-chasing-her-she-bailed">spiraled into five bad ones</a>, Jessica from Dallas knows exactly how you feel.
She and her husband bought a house three years ago, then decided to tack on $30,000 worth of solar panels. "We do not make but maybe $3,100 a month after child support," Jessica told Dave Ramsey <a href="https://youtu.be/tmte2KnkKvk?si=s6GNCOYOgzkZZyig">during a call to "The Ramsey Show."</a>
Desperate for advice she explained, "We do not know which way is up. We do not know how to make ends meet."
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Ramsey, never one to tiptoe around financial disaster, didn't hold back.
"You guys have to lock arms and write down a pledge in blood that says, ‘I'm going to quit buying crap I can't afford,'" he said. "Solar panels, renovations, anything ever — unless I can pay cash for it, I'm never buying it again."
Jessica agreed. "You're right," she said.
They owe $30,000 on the solar panels, $15,000 on credit cards, and $197,000 on the house — but with an estimated home value of $300,000, they're sitting on $100,000 in equity. It's a lifeline. But they're sinking fast, renting a third car, stretched thin by home costs, renovations, and trying to make $3,100 last a month.
Trending: Invest where it hurts — and help millions heal:<a href="https://www.benzinga.com/money/a-cure-for-osteoarthritis-powered-by-everyday-investors-cytonics-is-looking-to-beat-big-pharma-and-disrupt-a-390-billion-market"> Invest in Cytonics and help disrupt a $390B Big Pharma stronghold</a>.
Ramsey gave it to them straight:
"Give that car back today. I'm not kidding," he said. "That was not a joke."
"Everything's just kind of been happening to y'all," he added. "We're going to turn this around. You're going to start happening to it."
His plan? Budget ruthlessly. Sell the car. Cancel anything that isn't essential. Boost their income. And only if all of that fails — sell the house and hit reset.
"If none of that works, just sell the house," Ramsey said. "It clears everything. You're 100% debt-free. Get you a little rental, you and your little three-year-old, and restart fresh."
Jessica admitted the idea of selling had already crossed her mind. But <a href="https://www.benzinga.com/personal-finance/management/25/06/45753871/man-calls-dave-ramsey-for-guidance-because-he-has-no-savings-despite-earning-200k-annually">Ramsey made clear</a> that it's not the first move — it's the fallback. The real fix starts with discipline and a plan.
He's enrolling them in Financial Peace University, giving them EveryDollar budgeting access, and sending Ken Coleman's book, "From Paycheck to Purpose," to help boost their earning potential. But that only works if they change their mindset.
"You have absolutely no idea where what little money is coming in is going," he said. "You're so freaking chaotic and out of control."
See Also: <a href="https://www.benzinga.com/money/this-ai-imaging-technology-has-been-used-in-more-than-500-surgeries-now-you-can-be-part-of-the-ai-imaging-revolution">Be part of the next med-tech breakthrough for only $350 — 500+ surgeries already done with nView's AI system.</a>
The real takeaway? Getting out of debt isn't just about math — it's about control. Clarity. Willpower.
"Swallow your worst-case scenario," Ramsey told her. "Emotionally accept it. Once you've done that, everything else is up from there."
Their story isn't all that rare. According to <a href="https://clarifycapital.com/financial-regrets-report">Clarify Capital's recent study</a> of 1,000 Americans, 38% say overspending has cost them an average of $63,000 in lost net worth. One in eight admit to blowing $5,000 or more in a single day, while 1 in 10 Gen Zers confess to recurring $800 splurges. And for many, the consequences linger — more than half say financial regret triggers anxiety, and a third admit they feel hopeless when thinking about money.
When everything feels like it's crashing down — from solar panels to credit card bills — the <a href="https://www.benzinga.com/money/are-you-rich">way out isn't more money</a>. It's control, clarity, and the courage to face the worst… and then fight your way back up.
Read Next: The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?
Image: Shutterstock

'Lock Arms and Write a Pledge in Blood': Dave Ramsey Scolds Broke Couple for Blowing $30K on Solar Panels — 'You're So Freaking Chaotic'

Billionaire entrepreneur Elon Musk reportedly engaged in a heated physical altercation with Treasury Secretary Scott Bessent at the White House, leading to a <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">fallout with President Donald Trump</a>.
What Happened: The incident took place in mid-April when Musk and Bessent presented competing proposals to the president. The situation escalated after President Trump sided with Bessent&#8217;s plan, leading to a verbal and physical confrontation between the two men.
Former&nbsp;White House official Steven Bannon&nbsp;stated that the argument turned physical when Musk, the world&#8217;s wealthiest man, allegedly shoulder-checked Bessent. 
As per the report <a href="https://www.washingtonpost.com/politics/2025/06/07/trump-elon-musk-fight-behind-scenes/">by</a> The Washington Post, Bannon claimed that it took several&nbsp;people to break up the&nbsp;fight before Musk was&nbsp;removed from the West Wing.
"Scott said, ‘You're a fraud. You're a total fraud,' Bannon said in an interview and as quoted by the Post.
Following this, Musk rammed his shoulder into Bessent's rib cage "like a rugby player," Bannon added, and Bessent hit him back. 
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>
Multiple people stepped in to break up the scrum as the two men reached the national security adviser's office, and Musk was shuffled out of the West Wing.
"President Trump heard about it and said, ‘This is too much,&#8221; Bannon said.
The fallout continued on social media, with Musk&nbsp;accusing the Trump administration of&nbsp;withholding documents related to Jeffrey Epstein. Trump responded by calling Musk &#8220;crazy&#8221; and threatening to cancel federal contracts and subsidies awarded to Musk&#8217;s businesses.
Bannon also called for a federal investigation into Musk&#8217;s immigration status, suggesting the South African-born American citizen should be deported.
Why It Matters: This incident marks a significant escalation in the ongoing tension between Musk and the Trump administration. 
The fallout could potentially impact Musk&#8217;s businesses, including&nbsp;Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and&nbsp;SpaceX, especially if the threats to cancel federal contracts and subsidies materialize. The call for a federal investigation into Musk&#8217;s immigration status further complicates the situation, potentially threatening his position as the head of his companies. 
This event also raises concerns about the political climate and its impact on the business sector.
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/Shutterstock AI Generator

TSLA

Elon Musk Reportedly Slammed Into Scott Bessent 'Like A Rugby Player' After Being Called a 'Fraud', Trump Said 'This Is Too Much'

Shaquille O&#8217;Neal, president of Reebok Basketball, was forced to change his initial plans of signing big names due to budget constraints.
What Happened: Shaq, who assumed the role of Reebok&#8217;s president in 2023, had a vision to restore the brand&#8217;s former glory through strategic partnerships with athletes and teams.
However, he encountered unexpected budgetary limitations. &#8220;I had to deal with something I never had to deal with: budgets. Cuz I&#8217;m like, &#8216;Imma sign Shai, I&#8217;ma sign all these players.&#8217; But hollering at their agents, they want $60 million. And now I gotta go back to the Board and they said, &#8216;Man, you ain&#8217;t got $60 million,'&#8221; O&#8217;Neal revealed during <a href="https://www.youtube.com/watch?v=dDV0atGIPuk&amp;t=2101s">an</a> interview.
Reebok, which was once a major rival to Nike, has witnessed a significant decline in its status since being acquired by Adidas in 2006. 
By the time O&#8217;Neal took the reins, the brand wasn&#8217;t even among the top 7 in market share, essentially starting from scratch.
O&#8217;Neal&#8217;s initial strategy to sign Shai Gilgeous-Alexander was thwarted due to financial constraints. Instead, he signed Angel Reese, a star of women&#8217;s college basketball, who had a personal connection with O&#8217;Neal through LSU.
Also Read:&nbsp;<a href="https://benzinga.com/news/politics/25/06/45828121/elon-musks-bombshell-about-donald-trump-in-epstein-docs-heres-the-truth-behind-the-claim" target="_blank" rel="noreferrer noopener">Elon Musk Drops Bombshell About Donald Trump in Epstein Docs—Here's The Truth Behind The Claim &#8211; Benzinga</a>
Reese, the 7th overall pick&nbsp;in the 2024 WNBA Draft, was signed to a multi-year extension by Reebok in October 2024, making&nbsp;her the sixth current WNBA&nbsp;player to have a signature&nbsp;shoe.&nbsp;Her signature shoe is expected&nbsp;to be released next year.
Why It Matters: This unexpected partnership is a testament to the financial challenges Reebok is currently facing. The inability to sign big names could potentially impact the brand&#8217;s resurgence strategy. 
However, signing Reese, a rising star in women&#8217;s basketball, could open new avenues for the brand in the women&#8217;s sports market. 
The success of Reese&#8217;s signature shoe could be a crucial factor in determining the future trajectory of Reebok under O&#8217;Neal&#8217;s leadership.
Read Next
<a href="https://www.benzinga.com/general/sports/25/05/45483236/shaq-rolls-up-in-a-cybertruck-elon-musk-has-this-one-word-response">Shaq Rolls Up In A Cybertruck — Elon Musk Has This One-Word Response</a>
Image: Shutterstock

Shaq Settled on Angel Reese for Reebok Endorsement Due to Budget Constraints: 'I Had To Deal With Something I Never Had To Deal With'

A young business owner called into Dave Ramsey&#8216;s &#8220;<a href="https://www.youtube.com/watch?v=hs8umvmVr68">EntreLeadership</a>&#8221; podcast with a surprising dilemma: one of his employees asked for ownership in the company. The caller, a 22-year-old CEO of an outdoor recreation event company, wasn't sure how to handle it. Ramsey&#8217;s response was part tough love, part strategic advice, and all classic Ramsey.
<h2 class="wp-block-heading">Too Soon For Partners</h2>
&#8220;You&#8217;ve got to be kidding me,&#8221; Ramsey said with a laugh. &#8220;I have two employees and I just started this and I&#8217;m 22 years old. We&#8217;re not dealing out equity at this point. No way.&#8221;
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The caller explained he <a href="https://www.benzinga.com/news/24/03/37834997/from-billion-dollar-mistake-to-300m-exit-the-early-entrepreneurial-experiences-of-benzinga-co-founde">started the business</a> when he was 18 with a few hundred dollars and had grown it to about $500,000 in annual revenue. He hired the employee full-time to help run events while he focused on scaling.
&#8220;I pay them a salary,&#8221; the caller said. &#8220;And recently they were doing a good job so I gave them 10% profits on merchandise and 5% profits in the business at the end of the year. Even after doing that, they still insisted they want ownership.&#8221;
Ramsey didn't hesitate. &#8220;Hit the road, Jack. Not a chance. The last thing you need is a partner,&#8221; he said. &#8220;The tail&#8217;s not wagging the dog here. You&#8217;re the dog, man.&#8221;
Trending: <a href="https://www.benzinga.com/money/this-ai-imaging-technology-has-been-used-in-more-than-500-surgeries-now-you-can-be-part-of-the-ai-imaging-revolution">Be part of the next med-tech breakthrough for only $350 — 500+ surgeries already done with nView's AI system.</a>
<h2 class="wp-block-heading">Pay Like A Partner, Don't Give Up Control</h2>
Ramsey shared how he compensates his own team at Ramsey Solutions: &#8220;I&#8217;ve got vice presidents in this place, I&#8217;ve got executive VPs, my operating board—none of them have a salary. They all get paid off of the bottom line of the company the 15th of the month following. They get paid a percentage of what the company created in profits the month before, and they make really, really good money.&#8221;
Ramsey made it clear that while the employee may be valuable, asking for equity in a small, young business is &#8220;asinine.&#8221;
&#8220;What they&#8217;re really after is more money,&#8221; he said. That&#8217;s why Ramsey recommended that he pay them as if they were a partner, but without giving them actual ownership.
Ramsey then outlined a compensation plan: pay a lower base salary and add a percentage of the profits from the events the employee manages. For example, if two events per month bring in $10,000 each in profit, and the employee is responsible for those, paying 15% of that profit would result in strong earnings.
You want him making money because the more money he makes, the more money you make, Ramsey said. &#8220;But if every time I hire three people, one of them becomes a partner, we&#8217;re going to have 73 partners when this thing grows. No, thank you.&#8221;
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>.
<h2 class="wp-block-heading">Monthly Accounting Is A Must</h2>
One of the biggest takeaways from Ramsey&#8217;s advice was the need for clean, detailed accounting. He stressed the importance of closing the books monthly and using job-costing methods to track profit on each event.
&#8220;If you don&#8217;t know what you made on those two events, because you&#8217;re screwing around with your stuff receipts in a shoebox or something, then you can&#8217;t calculate his pay,&#8221; Ramsey warned. &#8220;And you&#8217;re not going to be paying him, and he&#8217;s going to be unhappy—and he would be correct.&#8221;
He also recommended paying commissions on the 15th of the month for the previous month&#8217;s events, in addition to a regular salary at the start of the month.&nbsp;
Ramsey wrapped it up with some encouragement. &#8220;You've got a fun little business going,&#8221; he said. &#8220;I hope it grows for you and you get 10 of him and they&#8217;re all making money off the bottom and you&#8217;re <a href="https://www.benzinga.com/personal-finance/25/02/43759794/are-you-a-top-1-earner-heres-what-you-need-to-rake-in-to-be-among-the-richest">making money off the top</a>.&#8221;
Read Next: Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.
Image: Shutterstock

A 22-Year-Old CEO Asks Dave Ramsey What To Do About An Employee Asking For Ownership. His Advice After A Sincere Laugh? 'Hit The Road, Jack'

Elon Musk&nbsp;recently shared a post in which ARK Invest CEO Cathie Wood lauds him as the &#8216;Thomas Edison of our age,&#8217; a testament to his transformative impact on humanity.
What Happened: On Sunday, Musk retweeted a post by DogeDesigner @cb_doge, which contained an interview of Cathie Wood expressing her admiration for the Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO. 
&#8220;I think he&#8217;s&nbsp;the Thomas Edison of our&nbsp;age. I think he&#8217;s&nbsp;a very good person. He&nbsp;wants to do the right&nbsp;thing, if I had to&nbsp;say one thing, he&nbsp;wants to do the right&nbsp;thing, to transform the lot&nbsp;of most of humanity,&#8221; she said.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f6a8; Cathie Wood on Elon Musk: &quot;I think he&#39;s the Thomas Edison of our age. I think he&#39;s a very good person. He wants to do the right thing, if I had to say one thing, he wants to do the right thing, to transform the lot of most of humanity.&quot; <a href="https://t.co/bnQajOIYzx">pic.twitter.com/bnQajOIYzx</a>
&mdash; DogeDesigner (@cb_doge) <a href="https://twitter.com/cb_doge/status/1931624663815225514?ref_src=twsrc%5Etfw">June 8, 2025</a></blockquote>
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In the interview with Steven Bartlett, Wood also said that if she could only pick one stock to invest in, she would choose Tesla.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45335756/cathie-wood-stands-firm-on-bold-700000-bitcoin-prediction-for-investors-says-bull-case-in-the-1-5-million-range">Cathie Wood Stands Firm on Bold $700,000 Bitcoin Prediction for Investors, Says &#8216;Bull Case in the $1.5 Million Range&#8217;</a>
&#8220;It is a convergence of our three major platforms, Robots, Energy Storage, AI. It's not stopping with Robotaxis, there's a story beyond that with Humanoid Robots, and our $2600 PT (2030) has nothing to do with humanoid robots — we just thought it would be an investment period," she said. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Cathie Wood says if she could only pick one stock to invest in, she would choose <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a>. "It is a convergence of our three major platforms, Robots, Energy Storage, AI. It's not stopping with Robotaxis, there's a story beyond that with Humanoid Robots, and our $2600 PT (2030) has… <a href="https://t.co/PBr2hDj7ZL">pic.twitter.com/PBr2hDj7ZL</a>
&mdash; Nic Cruz Patane (@niccruzpatane) <a href="https://twitter.com/niccruzpatane/status/1931597827139936362?ref_src=twsrc%5Etfw">June 8, 2025</a></blockquote>
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Why It Matters: The comparison to Thomas Edison, a renowned inventor and businessman, underscores the high regard in which Wood holds Musk. 
Her words highlight Musk&#8217;s commitment to using his technological innovations to improve the human condition. 
This sentiment resonates with many who view Musk as a visionary leader, driving progress in industries such as electric vehicles and space exploration.
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Cathie Wood Praises Elon Musk, Says He Is 'The Thomas Edison Of Our Age', Names Tesla As Her No. 1 Stock Pick For The Long Term

Saving for retirement is a long game — and for decades, Dave Ramsey has told his audience that building wealth doesn't require massive income, just consistent effort. But when one caller threw that entire mindset into question, Ramsey didn't just correct the math — he unleashed a full-on lecture.
In a video clip titled <a href="https://youtu.be/imZwWDfA68E?si=hKQU0KnLmVMRvDM7">"Why Should I Invest If I'm Just Going To Die?"</a> posted to his official YouTube channel, a listener named Isaiah challenged Ramsey's popular claim that $100 invested monthly could grow into millions over time.&nbsp;
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"You keep saying to invest $100 a month beginning at age 30 and you'll be worth $5 million at 70 years old," Isaiah said. "That's the most ridiculous thing I've ever heard, because the life expectancy of a white male is 72 and for a Black male it's 68."
Ramsey fired back: "We have never said $100 a month from 30 to 70 is $5 million. It's $1,176,000. All of your numbers are wrong."
He cited data from the National Vital Statistics System showing that as of 2023, the average <a href="https://www.cdc.gov/nchs/fastats/life-expectancy.htm">life expectancy for men in the U.S.</a> was nearly 76. But more importantly, he pointed out that once someone reaches age 65, the average life span stretches another 18 years. "That's into your 80s," he said. "So no, you don't just die before you enjoy your money."
But it wasn't just the math that set Ramsey off — it was the mindset.
"At the core of your belligerency," Ramsey said, "is the idea that somehow you're supposed to get rich in 10 minutes, or that you're entitled to something."
Trending: Invest where it hurts — and help millions heal:<a href="https://www.benzinga.com/money/a-cure-for-osteoarthritis-powered-by-everyday-investors-cytonics-is-looking-to-beat-big-pharma-and-disrupt-a-390-billion-market"> Invest in Cytonics and help disrupt a $390B Big Pharma stronghold</a>.
He pushed back hard on Isaiah's claim that his background or race had anything to do with financial limits. "Color of skin hasn't got anything to do with your ability to build wealth," Ramsey said. "You're not a victim of anything but your bad thinking."
Then came the now-infamous rant: "Roll up your sleeves, live on less than you make, get out of debt, deny yourself a little bit of pleasure… and quit smoking so much pot. Seriously."
Ramsey called the caller's view "hopelessness," and accused him of spreading discouragement to others who could be working toward financial independence. "You're a hope stealer," he said. "And that pisses me off. Because I spend my life giving people hope."
By the end of the clip, Ramsey reminded listeners that 89% of America's millionaires are first-generation wealthy. "If you plant $100, you'll get this. If you plant $1,000, you'll get 10 times as much," he said. "Most of you waste $100 driving past Starbucks."
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Ramsey's closing argument? "This is the best economy in the history of mankind for the little man to get ahead. If you don't do it, that's not on life. That's on you."
Not everyone may agree with Ramsey's delivery, or his assumptions about longevity, race, or motivation. And sure — life doesn't come with guarantees. You might not live to 88, and a $100 monthly investment won't magically <a href="https://www.benzinga.com/money/smartasset">turn you into a millionaire overnight</a>.
But the bigger question is: What's the alternative? If you don't save out of fear you'll never make it to retirement, what happens if you do?
Ramsey's point may be harsh, but it's hard to argue with the logic: hoping you'll be dead before you need your money isn't a financial plan. And if you're wrong — that could cost you <a href="https://www.benzinga.com/money/are-you-rich">a lot more than $100 a month</a>.
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Image: Shutterstock

'Why Should I Invest If I'm Just Gonna Die?' — Dave Ramsey Viewer Insists He's Giving Bad Advice But Cites Bogus Stats That Men Don't Live Past 72

From a modest start in a parking lot,&nbsp;Dave&#8217;s Hot Chicken&nbsp;has now entered the billion-dollar club. The restaurant chain, which has experienced remarkable growth since its inception in 2017, recently sealed a billion-dollar deal.
What Happened: The story of Dave&#8217;s Hot Chicken began with a $900 investment by three friends in Los Angeles. The business started by selling Nashville-style hot chicken and has since expanded to 315 locations worldwide, with plans for an additional 150 locations in the U.S., Europe,&nbsp;and the Middle East. 
Over&nbsp;the past two years, the company&#8217;s sales have tripled, surpassing $600 million, as per data from Technomic, a research firm.
As reported <a href="https://www.wsj.com/business/hospitality/daves-hot-chicken-deal-roark-bac46ced?mod=Searchresults_pos1&amp;page=1">by</a> the Wall Street Journal, the restaurant chain was bought by a private-equity firm. Dave&#8217;s Hot Chicken has been lauded for its unique business model, which includes a simple menu, a lively ambiance, and a variety of spice levels, with the &#8220;Reaper&#8221; being the spiciest, requiring a waiver to eat.
Also Read: <a href="https://www.benzinga.com/personal-finance/25/04/45029760/take-investment-advice-from-shaq-his-fortune-grew-thanks-to-charles-barkley-and-donuts">Take Investment Advice From Shaq — His Fortune Grew Thanks To Charles Barkley and Donuts</a>
The company&#8217;s swift expansion is credited to its niche market, robust social media presence, and the growing popularity of chicken. In the U.S., sales of chicken at chain restaurants grew by 9% last year, with fast-casual chicken chains witnessing a 24% increase.
The private equity firm&nbsp;Roark Capital&nbsp;is the new owner of Dave&#8217;s Hot Chicken. Roark Capital, which owns several major restaurant brands, had been interested in the chain since 2021, making its presence felt at the opening of the 15th store.
Why It Matters: The success of Dave&#8217;s Hot Chicken underscores the potential of unique, niche food concepts. The company&#8217;s rapid growth, despite its humble beginnings, demonstrates the power of a strong brand, a focused menu, and effective use of social media. 
The rising popularity of chicken, particularly in the fast-casual dining segment, also played a significant role in the chain&#8217;s success. 
The acquisition by Roark Capital, known for its portfolio of successful restaurant brands, further validates the company&#8217;s business model and growth potential.
Read Next:&nbsp;<a href="https://www.benzinga.com/general/sports/25/04/45027895/why-shaq-wont-share-his-500-million-fortune-with-his-kids-we-aint-rich-im-rich-im-not-going-to-hand-it-to-you-you-gotta-earn-it" target="_blank" rel="noreferrer noopener">Why Shaq Won't Share His $500 Million Fortune With His Kids: ‘We Ain't Rich. I'm Rich. I'm Not Going to Hand It to You, You Gotta Earn It'</a>
Image: Shutterstock/Erman Gunes

Here's How Dave's Hot Chicken Went From Humble Beginnings To A Billion-Dollar Food Empire

Compyl, a New York-based provider of a unified governance, risk, and compliance platform, has raised $12 million in a Series A funding round led by Venture Guides. The company said in a <a href="https://www.globenewswire.com/news-release/2025/06/04/3093377/0/en/Compyl-Closes-12-Million-in-Series-A-Funding.html">statement</a> that the investment will help accelerate go-to-market initiatives, team growth, and enhance its AI-powered platform.
The round also included participation from existing investors Contour Venture Partners, Armory Square Ventures, NVP Capital, Alpine Meridian Ventures, Brooklyn Bridge Ventures, and Zelkova Ventures. Venture Guides Partner Anton Simunovic will join Compyl's board, according to the statement.
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<h2 class="wp-block-heading">Addressing the Growing Demand for Automated Compliance</h2>
As 57% of cybersecurity teams report being understaffed and 41% cite time commitment as the primary challenge in conducting annual cyber risk assessments, demand for automated compliance tools is rising, according to a <a href="https://www.isaca.org/resources/reports/state-of-cybersecurity-2024">report by</a> global IT governance and security association ISACA.
The company said it aims to fill that gap with a platform that streamlines risk assessments, monitors regulatory shifts, and automates audit workflows. According to Compyl, the platform offers real-time risk detection, automated compliance benchmarking for SOC 2, ISO 27001, and GDPR, and AI-guided remediation tools — all without the extensive customization often required by legacy GRC systems.
<h2 class="wp-block-heading">Positioning in a Growing Market</h2>
The global enterprise GRC market was valued at $62.92 billion in 2024 and is projected to reach $134.86 billion by 2030, growing at a 13.2% CAGR, according to <a href="https://www.grandviewresearch.com/press-release/global-enterprise-governance-risk-compliance-egrc-market">Grand View Research</a>.
Trending: Invest where it hurts — and help millions heal:<a href="https://www.benzinga.com/money/a-cure-for-osteoarthritis-powered-by-everyday-investors-cytonics-is-looking-to-beat-big-pharma-and-disrupt-a-390-billion-market"> Invest in Cytonics and help disrupt a $390B Big Pharma stronghold</a>.
Amid this expansion, Compyl is emerging as a disruptive force in the GRC space, setting itself apart with no-code customization, real-time monitoring, and a transparent pricing model tailored to mid-market and fast-growing organizations.
<h2 class="wp-block-heading">Momentum and Expansion Plans</h2>
Founded in 2020 by former chief information security officers Stas Bojoukha and Simon Shaddock, Compyl has doubled its customer base for two consecutive years and achieved triple-digit annual recurring revenue growth, the company said.
Looking ahead, Compyl said it plans to introduce an AI-powered "Compliance Copilot" feature in the third quarter of 2025 and expand into the Asia-Pacific region and regulated industries such as healthcare and fintech by 2026.
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

Compyl Secures $12M Series A Funding to Expand AI-Powered GRC Platform Amid Rapid Growth

The ongoing US-China trade war is set to hit the American toy industry, with the potential for a decrease in doll production and a rise in consumer prices.
What Happened: William Su, a doll manufacturer, is among those grappling with the impact of increased tariffs. The decision by President Donald Trump to raise tariffs on China to 145% in April led to a halt in production for many manufacturers.
Although the tariff was reduced to 30% last month to facilitate trade talks, the uncertainty surrounding future rates has left businesses in a state of flux.
As a result, Su anticipates shipping&nbsp;one-third fewer dolls than usual&nbsp;ahead of Christmas. The tariffs have particularly affected low-margin industries like toy makers, who have limited alternatives to raising prices. 
Consequently, American shoppers are expected&nbsp;to face a smaller assortment&nbsp;of goods this holiday season, and at higher costs.
According to a report <a href="https://www.wsj.com/economy/trade/china-tariffs-mean-fewer-more-expensive-dolls-for-american-kids-ab5629d1?mod=hp_lead_pos9">by</a> The Wall Street Journal, a recent ruling by a federal trade court that Trump didn&#8217;t&nbsp;have the authority to impose&nbsp;sweeping tariffs on the US&#8217;s trading partners has further complicated matters. 
Also Read: <a href="https://www.benzinga.com/news/25/06/45736314/us-tariff-impact-prices-surge-at-walmart-and-target-employees-say-some-jumps-top-38">US Tariff Impact: Prices Surge At Walmart And Target, Employees Say—Some Jumps Top 38%</a>
However,&nbsp;another court put the ruling&nbsp;on hold, pending an appeal&nbsp;from the Trump administration,&nbsp;leaving the tariffs in place&nbsp;for now.
With the future of tariff&nbsp;rates uncertain, manufacturers liken making more dolls for the US market to &#8220;gambling&#8221;. The tariffs have also affected smaller toy makers in the US, who&nbsp;are having trouble getting orders&nbsp;through to Chinese factories, as these factories are prioritizing bigger customers.
Why It Matters: Despite a temporary reprieve in tariffs, industry executives agree that children&#8217;s&nbsp;dolls will be more expensive, echoing Trump&#8217;s prediction. 
With around&nbsp;90% of American doll imports&nbsp;coming from China, finding&nbsp;another source of dolls—and toys—is&nbsp;proving to be a challenge.
The trade war&#8217;s impact on the toy industry is a clear example of how international trade disputes can have far-reaching effects on everyday consumers. 
As the holiday season approaches, the potential for higher prices and fewer choices could put a damper on the festive spirit for many American families.
Read Next
<a href="https://www.benzinga.com/tech/25/05/45600853/trumps-apple-tariff-threat-hits-stock-hard-but-heres-why-iphones-cant-just-be-made-in-america">Trump&#8217;s Apple Tariff Threat Hits Stock Hard, But Here&#8217;s Why iPhones Can&#8217;t Just Be &#8216;Made in America&#8217;</a>
Image: Shutterstock

US-China Trade War: American Kids To Get Fewer, Costlier Dolls This Christmas, Here's Why

Brad Pitt&#8216;s much-vaunted Formula One movie, &#8220;F1,&#8221; recently received a resounding thumbs up from its potentially toughest audience — F1 drivers. During a screening in Monaco, the film was praised by the sport&#8217;s speed kings, multiple outlets reported. It was hardly surprising considering some of them have cameos in the movie and it was made in cooperation with F1.
<a href="https://www.benzinga.com/news/topics/25/06/45712700/apples-ai-struggles-to-keep-pace-with-rivals-ahead-of-wwdc-2025">Apple</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), which reportedly spent<a href="https://x.com/ESPNF1/status/1789264191469089049"> $300 million to make the film</a>, and Warner Brothers, the distributor, can only hope the public shares the sentiment and will flock to theaters when it is released internationally at the end of the month.
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&#8220;Honestly, I enjoyed the whole thing,&#8221; driver Carlos Sainz told <a href="https://www.reuters.com/sports/formula1/drivers-hail-pitts-f1-movie-hit-after-monaco-screening-2025-05-22/">Reuters</a> in a press conference. &#8220;There were things that really surprised me. Not talking about the story, but the quality of footage they got. It&#8217;s insane. Honestly insane. That&#8217;s for me the best part of all of it."
Driver Oliver Bearman agreed. &#8220;I think it really depicts in a great way what we go through, in a bit of a Hollywood way, as you would expect, but that makes it really interesting,&#8221; he said in the press conference. &#8220;I think the goal of the movie is going to be achieved. I think it&#8217;s going to be a huge hit and it&#8217;s going to make people want to watch F1, which is really the goal of it.&#8221;
<h2 class="wp-block-heading">Co-Produced By Lewis Hamilton And Directed By Joseph Kosinski Of ‘Top Gun: Maverick'</h2>
The film was co-produced by seven-time world champion Lewis Hamilton through his Apollo Dawn Films banner. &#8220;Watching Brad drive around at speeds over 180 miles an hour was really impressive to see because it&#8217;s not something you can just learn overnight,&#8221; <a href="https://www.reuters.com/lifestyle/hamilton-impressed-by-pitts-speed-authentic-f1-movie-2025-03-13/">Hamilton said</a> in pre-recorded comments at a launch event. &#8220;The dedication and the focus that Brad put into this process has been amazing to witness.&#8221;
Trending: Invest where it hurts — and help millions heal:<a href="https://www.benzinga.com/money/a-cure-for-osteoarthritis-powered-by-everyday-investors-cytonics-is-looking-to-beat-big-pharma-and-disrupt-a-390-billion-market"> Invest in Cytonics and help disrupt a $390B Big Pharma stronghold</a>.
Adding to the film&#8217;s star power is director Joseph Kosinski, known for &#8220;Top Gun: Maverick,&#8221; and Javier Bardem as the racing team owner.&nbsp; As with &#8220;Top Gun: Maverick,&#8221; remote cameras captured the actors traveling at high speeds.&nbsp;
&#8220;When you see Brad driving, that&#8217;s not acting. He&#8217;s really concentrating on keeping that car on the track and out of the wall during all those scenes so that&#8217;s something that you just can&#8217;t fake,&#8221; Kosinski told Reuters.
<h2 class="wp-block-heading">One Of The Most Expensive Films Ever Made</h2>
Apple&#8217;s streaming platform is reportedly not yet profitable. In fact,<a href="https://www.theinformation.com/articles/apple-streaming-losses-top-1-billion-year"> The Information</a> reported that the company is losing $1 billion per year with its streaming platform, which has 45 million subscribers. The losses are small-change for the company, whose annual profits were<a href="https://www.forbes.com/sites/dereksaul/2024/10/31/apple-earnings-stock-wavers-despite-strong-iphone-sales/"> $93.7 billion</a> for its fiscal year that ended in September.
Still, Apple is not in the business of losing money. The Information reported that Apple is spending around $4.5 billion on content annually, down from $5 billion in past years. Backing<a href="https://www.imdb.com/news/ni64972881/"> one of the most expensive films ever made</a> is an undoubtedly risky move but producer Jerry Bruckheimer recently played down the towering numbers to<a href="https://deadline.com/2024/07/jerry-bruckheimer-joseph-kosinski-f1-movie-formula-apple-one-brad-pitt-lewis-hamilton-1236001989/"> Deadline</a>, explaining that sponsorship underwrote some of the costs.
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&#8220;We&#8217;ve raised more money for our (filming) car than some Formula 1 teams,&#8221; Bruckheimer said. On-car sponsorship included Expensify, while the Hamilton-linked brands Tommy Hilfiger, IWC, and others also contributed, Deadline reported. &#8220;You take that all into consideration and it really drops that number quite a bit lower than what people would think.&#8221;
When pressed, Bruckheimer balked at getting specific. &#8220;We can&#8217;t give you a number because that&#8217;s Apple&#8217;s money and they can talk about it,&#8221; he told Deadline. &#8220;But what I think you can say is it&#8217;s quite a bit lower than what&#8217;s been reported.&#8221;
<h2 class="wp-block-heading">The Film Needs To Generate $750 Million</h2>
<a href="http://autoracing1.com/">Autoracing1.com</a> suggests that to cover its costs, including marketing, &#8220;F1&#8221; needs to generate over $750 million in global box office revenues — a tall order even with Hollywood&#8217;s top talent in Pole Position.&nbsp;
Apple does not release financial or subscriber numbers for <a href="https://www.benzinga.com/general/entertainment/25/05/45311978/tim-cooks-apple-tv-cameo-rejected-by-seth-rogen-opts-for-netflixs-ted-sarandos-instead-we-said-no">Apple TV+</a> alone, but rather for its overall Services sector, which includes Apple TV+ and generated revenue of<a href="https://www.apple.com/newsroom/pdfs/fy2025-q2/FY25_Q2_Consolidated_Financial_Statements.pdf"> $26.3 billion for </a>fiscal Q4, representing a 14% year-over-year increase.
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

Pro Drivers Give Brad Pitt's 'F1' Movie The Thumbs Up. Its $300 Million Budget Makes It One Of The Most Expensive Films Ever Made

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