Neuberger Berman ETF Trust Neuberger Berman Next Generation Connected Consumer ETF (ARCA: NBCC)

最新ニュース Neuberger Berman ETF Trust Neuberger Berman Next Generation Connected Consumer ETF (ARCA:NBCC)

Consumer Cyclical

Consumer Defensive

Technology

Healthcare

Communication Services

Financial Services

Industrials

The Fund will invest at least 80 percent of its total assets in equity securities issued by U.S. and foreign (non-U.S.) companies, including companies located in emerging markets, of any market capitalization, that are relevant to the theme of investing in the Next Generation Connected Consumer (referred to herein as NextGen Consumer). The Fund considers NextGen Consumer companies to be those companies that in the Portfolio Managers view are potential beneficiaries of the growing economic power of Generation Y and Z populations, including companies that may demonstrate significant growth potential from the development, advancement, use or sale of products, processes or services related to connectivity-based consumerism, including the global fifth generation (i.e., 5G) mobile network and future generations of mobile network connectivity and technology.

Nike Inc

Carnival Corp.

Warby Parker, Inc., Class A

Philip Morris International Inc.

Spotify

Green Mountain Coffee Inc

State Street Institutional US Government Money Market Fund

Essilor Intl Cie Generale d'Optique SA

Ulta Beauty

Wix.Com Ltd

Neuberger Berman Next Generation Connected Consumer ETF

Neuberger Berman ETF Trust Neuberger Berman Next Generation Connected Consumer ETF

Official Melania (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">MELANIA</a>) dramatically spiked on Sunday after a whale opened a five-fold leveraged long position in the meme coin.
What happened: The official cryptocurrency of First Lady Melania Trump jumped 6.29% over the previous day, while its trading volume more than tripled to $35 million. The cryptocurrency outperformed Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) in the last 24 hours.
The price skyrocketed after an influential trader, who made news for taking a 40x <a href="https://in.benzinga.com/markets/cryptocurrency/25/03/44348215/bitcoin-whale-takes-332-million-short-position-heres-where-it-gets-liquidated">leveraged short position</a> on Bitcoin, opened a 5x leveraged trade betting on MELANIA&#8217;s price increase.
The position, worth $2.5 million at the time of writing, was opened at an entry price of $0.69135, <a href="https://hypurrscan.io/address/0xf3F496C9486BE5924a93D67e98298733Bb47057c">according </a>to data from the decentralized perpetual trading platform Hyperliquid.&nbsp;
Since opening the long, the trader has made an unrealized profit of over $105,000.
Benzinga Note: Leverage trading allows cryptocurrency traders to open larger positions using borrowed capital. While it can potentially amplify profits, it also significantly increases the risk of substantial losses due to the volatile nature of the cryptocurrencies.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/03/44267582/us-house-committee-favors-stablecoin-regulation-to-strenthen-dollar-advocates-against-cbdc">House Committee Favors Stablecoin Regulation To &#8216;Strengthen&#8217; Dollar: Majority Whip Says CBDCs Against &#8216;American Values&#8217;</a>
Why It Matters: The high-stakes bet revived interest for a coin that has collapsed since its initial frenzy.&nbsp;
MELANIA has plunged nearly 95% from the all-time high of $13.73 set shortly after its <a href="https://in.benzinga.com/markets/cryptocurrency/25/01/43078040/trump-coin-tanks-36-even-as-melania-trump-launches-her-own-token-top-analyst-says-his-short-is-going-very-very-well">January launch.</a> Additionally, the downturn has wiped off $13 billion worth of the coin&#8217;s fully diluted capitalization, which was now valued at $724 million.
Price Action: At the time of writing, MELANIA was exchanging hands at $0.7246, up 6.23% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
Photo Courtesy: Evan El-Amin On Shutterstock.com
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</ul>

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

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$BTC

$DOGE

$ETH

$MELANIA

MELANIA Surges 6% After Whale With 40x Short Bet On Bitcoin Goes Long On First Lady's Memecoin

Popular dog-themed cryptocurrency Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) traded higher on Sunday, defying the broader meme coin correction.&nbsp;
What happened: The second-largest meme coin by market capitalization jumped 5.45% over the previous day, with trading volume surging 189% to $341 million in the last 24 hours.&nbsp;
In doing so, SHIB became the most successful large-cap meme coin in the last 24 hours, outperforming Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and several others that recorded losses.
The rally followed a <a href="https://in.benzinga.com/markets/cryptocurrency/25/03/44348135/shiba-inus-burn-rate-soars-removing-505-million-tokens-from-circulation">massive 62,000% jump</a> in the token's burn rate, boosted by a meteoric jump in transactions on the ecosystem's Layer-2 blockchain Shibarium.
Note that a portion of transaction fees paid on Shibarium are set aside and burned. This is done to create scarcity and, over time, increase the token&#8217;s market value.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/03/44267582/us-house-committee-favors-stablecoin-regulation-to-strenthen-dollar-advocates-against-cbdc">House Committee Favors Stablecoin Regulation To &#8216;Strengthen&#8217; Dollar: Majority Whip Says CBDCs Against &#8216;American Values&#8217;</a>
Why It Matters: Widely followed cryptocurrency analyst Javon Marks maintained a $0.000081 price target for SHIB, which represented a 500% upside over the current price.
"As prices continue to hold broken out, and up since showing responsiveness to this breakout, another nearly +500% upside to reach this target could still be well in the works," the analyst added.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> (Shiba Inu)&#39;s breakout target at the $0.000081 level goes UNCHANGED! As prices continue to hold broken out, and up since showing responsiveness to this breakout, another nearly +500% upside to reach this target could still be well in the works&#8230; <a href="https://t.co/HpENwKPFfb">https://t.co/HpENwKPFfb</a> <a href="https://t.co/kNJx4aq8if">pic.twitter.com/kNJx4aq8if</a>
&mdash; JAVON&#x26a1;&#xFE0F;MARKS (@JavonTM1) <a href="https://twitter.com/JavonTM1/status/1901306023106806056?ref_src=twsrc%5Etfw">March 16, 2025</a></blockquote>
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The Momentum indicator, which compares the short-term price and long-term price, flashed a &#8220;Buy&#8221; signal for SHIB as of this writing, <a href="https://in.tradingview.com/symbols/SHIBUSDT/technicals/">according </a>to TradingView.&nbsp;
Conversely, the Bull Bear Power indicator, which measures the strength of buyers and sellers, signaled "Sell," indicating that the rally might not be sustained for long.
Price Action: At the time of writing, SHIB was exchanging hands at $0.00001351, up 5.79% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Image via Shutterstock
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<li><a href="https://www.benzinga.com/25/03/44268317/sec-postpones-approval-of-several-crypto-spot-etfs-says-influential-analyst">Dogecoin, XRP ETF Filings Delayed By SEC But Influential Analyst Says &#8216;Relatively High&#8217; Odds Of Approval</a></li>
</ul>

$SHIB

Shiba Inu Defies Memecoin Dump With With A 5% Spike — Analyst Says 500% Upside 'Could Still Be Well In The Works'

Young Liu, the CEO of Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) supplier Foxconn, also known as Hon Hai Technology, has publicly criticized President Donald Trump's tariff policy, warning it's creating chaos for tech giants like Apple and Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).
What Happened: During an earnings call on Friday, Foxconn CEO Liu said the U.S. government&#8217;s tariff strategy is causing major disruptions across the global tech supply chain.
"The issue of tariffs is something that is giving the CEOs of our customers a big headache now," Liu told investors. "Judging by the attitude and the approach we see the U.S. government taking towards tariffs, it is very, very hard to predict how things will develop over the next year."
Liu said that companies, including Apple and Amazon, are actively exploring U.S.-based manufacturing options with Foxconn. While he declined to disclose details, Liu stated that the company expects "more and more" production to move stateside.
See Also: <a href="https://www.benzinga.com/news/24/03/37848556/nvidias-new-superchip-delivers-8-470-times-the-computing-performance-of-supercomputer-that-jensen-hu" target="_blank" rel="noreferrer noopener">Nvidia&#8217;s New Superchip Delivers 8,470 Times The Computing Performance Of Supercomputer That Jensen Huang Donated To OpenAI</a>
The news was first <a href="https://www.ft.com/content/cc290f55-e45a-42b1-bf2d-cf323053fade">reported</a> by the Financial Times.
Why It's Important: Foxconn's manufacturing operations are heavily concentrated in China, India, and Vietnam — all of which have been impacted or are at risk of being hit by additional tariffs.
The company is also building a major Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) server plant in Mexico.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
On Friday, Foxconn announced its financial results for the fourth quarter and full year of 2024. In the October-December quarter, Foxconn&#8217;s revenue surged 15% year-over-year to NT$2.13 trillion, while gross profit climbed 15.7% to NT$131 billion. For the full year, net profit totaled NT$152.7 billion, pushing earnings per share to NT$11.01—the highest in 17 years.
The concerns raised by Liu echo broader criticisms of the U.S. tariff policy. Previously, in an interview, Warren Buffett described tariffs <a href="https://in.benzinga.com/markets/equities/25/03/44070257/warren-buffett-calls-tariffs-an-act-of-war-warns-they-function-as-a-tax-on-goods-amid-market-turmoil">as &#8220;an act of war&#8221; and</a> likened them to a consumer tax.
Similarly, Anthony Scaramucci criticized the tariffs, stating that the <a href="https://in.benzinga.com/news/25/02/44032329/anthony-scaramucci-says-the-market-doesnt-like-trump-tariffs-compares-trump-to-hitler-appeaser-for-coddling-putin-and-berating-allies">market disapproves</a> of Trump&#8217;s trade policies.
Image via Shutterstock
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tech

Media

AAPL

AMZN

NVDA

Trump Trade Policy A 'Big Headache' For Customers, Says Apple-Supplier Foxconn's CEO: 'Very, Very Hard To Predict How Things Will Develop...'

Investors funneled cash into U.S. equities at the third-highest pace in history last week, with Bank of America strategist Michael Hartnett framing it as a &#8220;correction, not a bear market,&#8221; following four weeks of market turmoil.
What Happened: According to BofA Global Investment Strategy data highlighted by hedge fund consultant Seth Golden on Sunday, private client flows to equities reached approximately 2.5% of Assets Under Management in March, marking the &#8220;3rd largest weekly inflow to equities ever&#8221; from BofA clients.
&#8220;Markets stop panicking when policy makers start panicking,&#8221; Golden, chief market strategist at Finom Group, noted on X, encouraging followers to &#8220;follow the fund flows.&#8221;
The massive buying surge comes as U.S. stocks staged a sharp rebound on Friday when the S&amp;P 500 tracked by The SPDR S&amp;P 500 (NYSE: SPY) jumped 1.9%, eyeing its strongest daily rally since November. Despite this recovery, major indices remain on track for a fourth consecutive weekly decline – the longest <a href="https://in.benzinga.com/economics/macro-economic-events/25/03/44338243/wall-street-bounces-back-as-shutdown-risks-fade-stocks-eye-strongest-day-in-4-months-whats-driving-markets-friday">losing streak since May 2022</a>.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">BofA&#39;s Michael Hartnett &quot;3rd largest Buy-The-Dip reign in history last week! We say this is a correction, not a bear market in stocks. Markets stop panicking when policy makers start panicking&#8230;&quot; Follow the fund flows folks!<a href="https://twitter.com/search?q=%24SPX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SPX</a> <a href="https://twitter.com/search?q=%24ES_F&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ES_F</a> <a href="https://twitter.com/search?q=%24SPY&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SPY</a> <a href="https://twitter.com/search?q=%24VOO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$VOO</a> <a href="https://twitter.com/search?q=%24QQQ&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$QQQ</a> <a href="https://twitter.com/search?q=%24NYA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NYA</a> <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a> <a href="https://twitter.com/search?q=%24AMZN&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AMZN</a> <a href="https://twitter.com/search?q=%24IWM&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$IWM</a>… <a href="https://t.co/2JO61Nv2BH">pic.twitter.com/2JO61Nv2BH</a>
&mdash; Seth Golden (@SethCL) <a href="https://twitter.com/SethCL/status/1901025515022282952?ref_src=twsrc%5Etfw">March 15, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/equities/25/03/44349240/googles-waymo-leads-robotaxi-race-with-2-millon-paid-rides-zoox-challenges-tesla-for-second-spot-as-unsupervised-autonomy-becomes-table-stakes-says-gary-black">Google&#8217;s Waymo Leads Robotaxi Race With 2 Millon Paid Rides, Amazon&#8217;s Zoox Challenges Tesla For Second Spot As Autonomy Becomes &#8216;Table Stakes,&#8217; Says Gary Black</a>
Why It Matters: Recent market volatility has been driven by recession concerns, with betting markets tracked by CFTC-regulated Kalshi showing the probability of a 2025 U.S. recession climbing to 37%. The Atlanta Federal Reserve&#8217;s GDPNow model currently forecasts a 2.4% contraction in the first quarter, reversing from a 2.3% expansion in <a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44327908/2025-recession-bets-are-on-fire-yet-traders-could-still-pocket-over-50-gains-if-us-economy-just-holds">the fourth quarter of 2024</a>.
Political factors may <a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44327908/2025-recession-bets-are-on-fire-yet-traders-could-still-pocket-over-50-gains-if-us-economy-just-holds">influence economic outcomes</a>, as Commerce Secretary Howard Lutnick dismissed the Atlanta Fed&#8217;s contraction forecast as &#8220;ridiculous.&#8221; Meanwhile, analysts like Chris Zaccarelli of Northlight Asset Management question whether the President Donald Trump administration&#8217;s economic policies will &#8220;lead to a recession or higher growth rates.&#8221;
If the economy avoids recession, Jeff Buchbinder at LPL Financial suggests upside potential &#8220;may be as much as double the downside risk&#8221; over the next 9-12 months.
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Image Via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Third-Largest 'Buy-The-Dip' In History — BofA's Sees 'Correction, Not A Bear Market' Amid Wall Street Rebound

Rocket Lab USA, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>) sent a Japanese radar satellite into orbit on Saturday and is now prepping for another mission just three days later.
What Happened: On Saturday, <a href="https://www.benzinga.com/quote/RKLB">Rocket Lab</a> completed its 61st mission, "The Lightning God Reigns," from Launch Complex 1 in Māhia, New Zealand.
The mission deployed the QPS-SAR-9 satellite into a 575-kilometer circular Earth orbit for the Japanese customer Institute for Q-shu Pioneers of Space, Inc. (IQPS).
It marked the second mission Rocket Lab has executed for IQPS following a launch in December 2023.
See Also:&nbsp;<a href="https://in.benzinga.com/25/02/43456592/tesla-researcher-expects-cybertruck-deliveries-to-fall-in-2025-order-backlog-is-gone" target="_blank" rel="noreferrer noopener">Tesla Cybertruck Headed For A Sales Crash In 2025? Analyst Sounds The Alarm, Predicts Elon Musk-led EV Giant Will Move Less Than A Third Of Street Estimates</a>
The satellite is part of IQPS's synthetic aperture radar (SAR) constellation, designed to deliver high-resolution, all-weather Earth imagery.
According to Rocket Lab, the Lightning God Reigns mission is the first of eight upcoming launches for IQPS—one of the company's largest Electron launch agreements to date—with five more expected in 2025 and two more in 2026.
Just three days later, on Tuesday, it plans to launch Mission 62, "High Five," which will deploy five satellites for French Internet of Things company Kinéis. The launch is the fifth and final in a multi-mission deal to complete the Kinéis satellite constellation.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We&#39;ve rolled out and we&#39;re ready for launch tomorrow &#8211; our second mission from LC-1 in three days &#x1f680;&#x1f680; The &quot;High Five&quot; mission for <a href="https://twitter.com/KineisIoT?ref_src=twsrc%5Etfw">@KineisIoT</a> is the final in a 5-launch deal to complete their constellation &#8211; though with an instantaneous launch requirement, a weather system… <a href="https://t.co/wjotvWCKaD">pic.twitter.com/wjotvWCKaD</a>
&mdash; Rocket Lab (@RocketLab) <a href="https://twitter.com/RocketLab/status/1901404741672079788?ref_src=twsrc%5Etfw">March 16, 2025</a></blockquote>
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Why It's Important: Last month, Rocket Lab announced its <a href="https://in.benzinga.com/general/space/25/02/44027404/rocket-lab-q4-earnings-revenue-beat-eps-beat-new-satellite-product-multi-launch-agreement-shares-slide-on-soft-guidance">fourth-quarter financial</a> results, reporting $132.39 million in revenue and surpassing the $130.58 million consensus estimate. The company posted a loss of 10 cents per share, matching analyst expectations, <a href="http://pro.benzinga.com/">according to Benzinga Pro</a>.
RKLB Price Action: Rocket Lab shares rose 7.06% on Friday, closing at $18.81. However, in after-hours trading, the stock was down 0.053% at the time of writing.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by <a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Photo via Shutterstock
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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.

RKLB

Rocket Lab Launches 'Lightning God Reigns' Mission, Sets Sights On 'High Five' Launch Just Three Days Later

Alphabet Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Waymo has established a commanding lead in the autonomous vehicle market with over 2 million paid robotaxi rides across multiple U.S. cities, Gary Black, Managing Partner at The Future Fund LLC notes.
What Happened: &#8220;Many investors argue Google&#8217;s Waymo is way ahead in the robotaxi race,&#8221; Black wrote Sunday on X, noting Waymo&#8217;s operations in San Francisco, Los Angeles, and Phoenix.
Meanwhile, Amazon.com Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Zoox is <a href="https://www.benzinga.com/media/25/01/43091062/amazons-zoox-eyes-joining-leagues-of-waymo-in-2025-to-offer-rides-to-public-quite-soon">preparing to launch paid services</a> in San Francisco and Las Vegas, positioning itself as a contender for second place against Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), which &#8220;still hasn&#8217;t been approved for paid ride-hailing on public roadways without humans behind the wheel,&#8221; Black stated.
In China, Baidu Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) has already completed 9 million paid robotaxi rides across four major Chinese cities and is expanding to dozens more, including Hong Kong.
Black emphasized that &#8220;unsupervised autonomy is table stakes for all automotive manufacturers&#8221; – a requirement to remain competitive, similar to smartphone features following Apple Inc.&#8216;s iPhone launch.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Many investors argue <a href="https://twitter.com/search?q=%24GOOG&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GOOG</a> ‘s Waymo is way ahead in the robotaxi race, having already deployed over 2M paid robotaxi rides in San Francisco, Los Angeles, Phoenix and elsewhere. <a href="https://twitter.com/search?q=%24AMZN&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AMZN</a> ‘s Zoox is about to launch paid robotaxi service in San Francisco and Las Vegas, and is… <a href="https://t.co/IboDZfNirC">pic.twitter.com/IboDZfNirC</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1901300612920177020?ref_src=twsrc%5Etfw">March 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also: <a href="https://www.benzinga.com/news/25/03/44347512/wait-tariffs-are-just-a-tax-on-us-employee-shocked-as-small-business-owner-cuts-his-hours-because-of-the-tariffs">&#8216;Wait, Tariffs Are Just A Tax On Us?&#8217;—Employee Shocked As Small Business Owner Cuts His Hours &#8216;Because Of The Tariffs&#8217;</a>
Why It Matters: When asked about Tesla&#8217;s potential advantage with 7 million vehicles worldwide, Black noted that Tesla has not demonstrated Level 4 or 5 autonomy, which hinders approval for unsupervised deployment in most jurisdictions.
Black acknowledged Tesla&#8217;s superior scaling capabilities but expressed concern about &#8220;a lack of marketing skills&#8221; – a sentiment echoed in his praise of Apple&#8217;s marketing as crucial to its success.
The competition intensifies as Waymo expands in Santa Monica, with investment manager Ross Gerber recently describing Waymo&#8217;s performance as <a href="https://in.benzinga.com/25/03/44068902/tesla-fsd-like-a-12-year-old-driving-compared-to-waymo-says-ross-gerber-warning-uber-has-got-to-be-hurting">significantly superior to Tesla&#8217;s Full Self-Driving technology</a>, which he compared to &#8220;a 12-year-old driving.&#8221;
Industry analysts remain cautious, with Goldman Sachs projecting limited initial robotaxi revenue for Tesla of <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43036902/tesla-stock-valuation-analyst-flags-long-term-growth-opportunities-robotaxis-fsd">approximately $115 million by 2027</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/25/03/44348859/trump-says-he-was-little-bit-sarcastic-when-he-said-he-would-end-the-russia-ukraine-war-in-a-day-what-i-really-mean-is">Trump Says He Was &#8216;Little Bit Sarcastic&#8217; When He Said He Would End The Russia-Ukraine War In A Day: &#8216;What I Really Mean Is&#8230;&#8217;</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.

BIDU

GOOG

GOOGL

TSLA

Google's Waymo Leads Robotaxi Race With 2 Millon Paid Rides, Amazon's Zoox Challenges Tesla For Second Spot As Autonomy Becomes 'Table Stakes,' Says Gary Black

Leading cryptocurrencies dipped on Sunday as investors braced for the Federal Reserve's decision on interest rates.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-1.60%</td>
<td>$82,939.09</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>-2.00%</td>
<td>$1,899.03</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-3.62%</td>
<td>$0.1701</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin witnessed a choppy trading day, oscillating between $85,000 and $82,000. The apex cryptocurrency recovered some losses last week, rising 2.21%.
The asset shed over 11% of its value in the first quarter, a stark contrast to the 51% returns it has provided on average.
Ethereum wiggled in the $1,860-$1,930 range throughout the day and was down over 7% in the last week. Its quarterly losses have widened to 42%.
Over $256 million was liquidated from the market in the last 24 hours, with long liquidations accounting for $177 million.&nbsp;
Bitcoin's Open Interest fell 2.76% over the last 24 hours due to long liquidations. That said, the percentage of traders positioned long on the apex digital asset surged to 52%, according to the Long/Short Ratio, suggesting that traders bought the dip.
The market remained in the "Fear" zone, according to the Crypto Fear and Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. ET)</td>
</tr>
<tr>
<td>BinaryX (BNX)</td>
<td>+26.13%</td>
<td>$1.41</td>
</tr>
<tr>
<td>Helium (HNT)</td>
<td>+3.38%</td>
<td>$3.20</td>
</tr>
<tr>
<td>OKB (OKB)</td>
<td>+3.32%</td>
<td>$48.08</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $2.71 trillion, marking a&nbsp; 2% decrease over the previous day.
Stock futures edged lower Sunday evening. The Dow Jones Industrial Average Futures fell 156 points, or 0.37%, as of 8:45 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 slid 0.45%, while Nasdaq 100 Futures dropped 0.51%
The market was coming off a losing week, with the Dow Jones Industrial Average and the S&amp;P 500 falling 2.38% and 0.75%, respectively.
The Fed's policy meeting will be the focus of this week. According to the CME FedWatch tool, the central bank is widely <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">expected</a> to keep interest rates unchanged.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Widely followed cryptocurrency analyst Ali Martinez described $81,400 as a "big" test for Bitcoin, and if it remains above that level, the apex cryptocurrency&#8217;s upward trend will continue.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> big test: $81,400 support! Staying above it keeps the uptrend alive. <a href="https://t.co/bvQgJPHLKE">pic.twitter.com/bvQgJPHLKE</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1901227444318949402?ref_src=twsrc%5Etfw">March 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Martinez also noted an ascending triangle pattern for Bitcoin, predicting that a "sustained close" outside the triangle [∼ 84,500] could trigger an 8% upside.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> is ready to break out! A sustained close outside of this triangle will trigger an 8% price move. <a href="https://t.co/yxwoYw7MHH">pic.twitter.com/yxwoYw7MHH</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1901328496355389600?ref_src=twsrc%5Etfw">March 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Another popular cryptocurrency market commentator, Michaël van de Poppe, predicted a &#8220;strong and green&#8221; week if there's no altcoin dump on Monday.
<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">Surprisingly, not a massive dump on Sunday. Big macro-economic week coming up for the markets. I assume that, if we don&#39;t have another dump on Monday for <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a>, that, finally, the next week is going to be strong &amp; green.
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1901350504497868803?ref_src=twsrc%5Etfw">March 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Image via Shutterstock
Read Next:    
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44348215/bitcoin-whale-takes-332-million-short-position-heres-where-it-gets-liquidated">Bitcoin Whale Takes $332 Million Short Position, Here&#8217;s Where It Gets Liquidated</a></li>
</ul>

Bitcoin, Ethereum, Dogecoin Slide Ahead Of Fed's Interest Rate Decision: Next Week To Be 'Strong & Green' If Altcoins Don't Get Dumped On Monday, Says Trader

On Sunday, President Donald Trump addressed his earlier claim of resolving the Ukraine-Russia conflict within 24 hours, clarifying that his statement was &#8220;a little bit sarcastic.&#8221; 
What Happened: During his appearance on &#8220;Full Measure,&#8221; Trump explained that his intention was to express a strong desire to end the conflict and conveyed confidence in his ability to do so. 
&#8220;What I really mean is I'd like to get it settled, and I think I'll be successful,&#8221; said the president, <a href="https://thehill.com/homenews/administration/5197961-trump-says-he-was-being-a-little-bit-sarcastic-when-he-promised-to-end-ukraine-war-in-24-hours/">reported</a> The Hill. Throughout his 2024 presidential campaign, he has consistently promised to quickly resolve the war if re-elected.
In a previous conversation with&nbsp;Fox News&nbsp;host&nbsp;Sean Hannity, Trump suggested a straightforward negotiation involving&nbsp;Ukrainian President Volodymyr Zelensky&nbsp;and&nbsp;Russian President Vladimir Putin. However, he refrained from revealing specifics, emphasizing the importance of preserving negotiation strategies.
Since assuming office nearly two months ago, Trump has prioritized ending the ongoing war. In the Sunday interview, he mentioned ongoing discussions with Putin, describing the situation as complex but progressing reasonably well.
Trump revealed that Ukrainians have agreed to a ceasefire framework and expressed optimism about Russia&#8217;s potential agreement. He anticipated further developments by Monday, emphasizing the urgency of halting the conflict to prevent further devastation in Ukraine.
See Also: <a href="https://www.benzinga.com/news/25/03/44348262/trump-musk-and-democrats-get-low-marks-on-economy-in-nbc-poll">Trump, Musk, and Democrats Get Low Marks on Economy in NBC Poll</a>
Why It Matters: The probability of Donald Trump brokering a ceasefire in Ukraine within his first 90 days back in office is reportedly increasing, as indicated by data from Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/matic/usd">MATIC</a>)-based <a href="https://in.benzinga.com/markets/cryptocurrency/25/03/44264824/can-donald-trump-end-the-war-in-ukraine-polymarket-traders-say-the-odds-are-rising-but-one-question-is-key">Polymarket</a>, a leading prediction platform. Traders currently assign a 36% chance to this possibility.
Despite Trump&#8217;s optimism, Zelensky remains skeptical, citing <a href="https://in.benzinga.com/news/global/25/03/44333033/trump-boasts-very-good-chance-of-russia-ukraine-ceasefire-but-zelenskyy-says-putin-broke-deals-25-times-before">past instances</a> where Putin allegedly violated agreements. This skepticism follows a tense <a href="https://in.benzinga.com/25/03/44064917/trump-says-ukraines-zelensky-is-not-ready-for-peace-after-oval-office-spat-he-disrespected-the-united-states-of-america">meeting</a> with Trump at the White House, where the incumbent U.S. president expressed dissatisfaction with his Ukrainian counterpart&#8217;s stance on peace negotiations.
Image via Shutterstock
Did You Know?
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<li>Congress Is Making Huge Investments. <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>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

General

$MATIC

Trump Says He Was 'Little Bit Sarcastic' When He Said He Would End The Russia-Ukraine War In A Day: 'What I Really Mean Is...'

When it comes to money, it's easy to fall into the comparison trap—especially in the age of social media flexing and financial "glow-ups." But let's be real: comparing your net worth to someone twice your age isn't exactly useful. The real question is, how do you stack up against people your age?
<h2 class="wp-block-heading">Top 10% Net Worth</h2>
Net worth is a key measure of financial standing, calculated by subtracting what you owe (liabilities) from what you own (assets). Assets include cash, investments, real estate, and valuable possessions, while liabilities cover debts like mortgages, student loans, and credit card balances. The higher your assets and the lower your debt, the stronger your net worth.
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According to <a href="https://www.federalreserve.gov/publications/files/2022-report-economic-well-being-us-households-202305.pdf">Federal Reserve data</a>, here's what it takes to land in the top 10% of net worth in the U.S. at different age groups:
• Ages 18–29: $281,550
• Ages 30–39: $711,400
• Ages 40–49: $1,313,700
• Ages 50–59: $2,629,060
• Ages 60–69: $2,808,600
• Ages 70+: $2,547,700
Across all age groups, reaching the top 10% of net worth in the U.S. requires at least $1.94 million.
These numbers might seem discouraging or motivating, depending on where you stand. But <a href="https://www.benzinga.com/money/are-you-rich">hitting the top 10%</a> isn't about luck; it's about consistently making smart financial moves. Whether you're just starting out or looking to level up, here are some key strategies to build your net worth over time.
Trending: The secret weapon in billionaire investor portfolios that you almost certainly don't own yet. <a href="https://www.benzinga.com/money/masterworks">See which asset class has outpaced the S&amp;P 500 (1995-2024) – and with near-zero correlation.</a>
<h2 class="wp-block-heading">How to Build Your Net Worth No Matter Your Age</h2>
1. Knock Out High-Interest Debt
Debt is the biggest drag on net worth. Prioritize high-interest balances like credit cards first, then move on to lower-interest loans. If your student loans have a low rate, it may make sense to invest instead of rushing to pay them off.
2. Max Out Retirement Contributions
If your job offers a 401(k) match, take it—it's free money. Even beyond that, contributing to tax-advantaged accounts like IRAs or HSAs can boost your wealth without giving extra cash to the IRS.
3. Cut Back on Spending That Doesn't Add Value
You don't have to give up your favorite coffee or stop traveling, but tracking your expenses will show where your money is disappearing. Small tweaks—like canceling unused subscriptions or negotiating bills—can free up cash for saving and investing.
4. Invest, Even If It's Small at First
Leaving all your money in a savings account won't grow your wealth. The earlier you start investing in stocks, index funds, or real estate, the more time your money has to compound.
See Also: Have $200K saved?<a href="https://www.benzinga.com/money/have-200k-saved-heres-how-to-turn-it-into-lasting-wealth"> Here's how to turn it into lasting wealth</a>
5. Buy a Car You'll Drive for a Decade
Cars are one of the fastest depreciating assets. Instead of upgrading every few years, buy a reliable vehicle and drive it as long as possible. That alone can save you thousands you can put toward building wealth.
Financial expert Suze Orman advises car buyers to spend the least amount possible on a vehicle that meets their needs, finance it for a short period, and maintain it for as long as possible. She practices what she preaches, having <a href="https://www.benzinga.com/personal-finance/24/09/40963028/suze-orman-says-keep-your-car-for-15-years-or-longer-instead-of-leasing-a-new-one-every-3-years-">owned her current car for over 12 years</a>.
6. Get Professional Financial Advice
A financial advisor isn't just for the ultra-wealthy. Whether it's tax strategies, investment plans, or retirement savings, professional guidance can help you maximize your money and avoid costly mistakes.
Building wealth isn't about hitting a magic number—it's about <a href="https://www.benzinga.com/money/smartasset">financial growth and stability</a>. The goal isn't to compete with strangers online but to improve your own financial situation year after year. No matter where you're starting from, the steps above can help push you closer to the top 10%.
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<li>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>.</li>
</ul>

Personal Finance

How Does Your Wealth Stack Up Against Your Peers? Here's the Net Worth You'll Need To Be Among The Richest 10% At Each Age

In a new poll, President Donald Trump, Elon Musk, and the Democratic Party all received poor marks on the economy.
What Happened: A poll released by NBC News on Sunday revealed that 54% of voters disapprove of Trump&#8217;s management of the economy, while 44% approve.
The <a href="https://www.nbcnews.com/politics/trump-administration/poll-trump-faces-early-challenges-economy-united-gop-backs-big-change-rcna195860">poll</a> also showed similar disapproval rates for Trump&#8217;s handling of inflation and cost of living, with 55% disapproving and 42% approving. This is the first time an NBC poll has indicated a majority of voters opposing Trump&#8217;s economic management.
Despite the negative economic ratings, Trump&#8217;s overall approval rating remains high, with 47% of respondents approving of his presidency, while 51% disapprove.
Musk&#8217;s personal approval rating is even lower, with only 39% of voters approving and 51% disapproving. However, 46% of respondents believe in the Department of Government Efficiency (DOGE), which Musk oversees, while 40% think it&#8217;s a bad idea.
Also Read: <a href="https://www.benzinga.com/news/25/02/43769836/trump-gains-trust-of-majority-on-americans-on-immigration-and-economy">Trump Gains Trust Of Majority Of Americans On Immigration, Economy</a>
The Democratic Party received the lowest ratings in the poll, with only 27% of voters having&nbsp;positive views of the party,&nbsp;compared to 55% with negative views. 
The poll was conducted before recent actions in Congress, where some Senate Democrats sided with Republicans on a&nbsp;resolution to fund the government.
The poll also showed voters are divided&nbsp;on who they want to&nbsp;control Congress after the midterms, with 48% favoring Democrats and 47% favoring Republicans.
Why It Matters: The poll results reflect the public&#8217;s current dissatisfaction with key figures and institutions. The negative ratings for Trump&#8217;s economic management could potentially impact his future political aspirations. 
Musk&#8217;s low approval rating, despite the support for the DOGE, indicates a disconnect between public opinion of him as an individual and his professional endeavors. The Democratic Party&#8217;s low ratings suggest a lack of public confidence, which could influence the outcome of the upcoming midterms. 
These ratings provide a snapshot of current public sentiment, which may have significant implications for future political and economic developments.
Read Next:
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<li><a href="https://www.benzinga.com/markets/25/02/43756824/market-instability-looms-in-trumps-second-term-warns-paul-tudor-jones-theres-no-room-for-mistakes" target="_blank" rel="noreferrer noopener">Market Instability Looms in Trump's Second Term, Warns Paul Tudor Jones: ‘There's No Room for Mistakes'</a></li>
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Trump, Musk, and Democrats Get Low Marks on Economy in NBC Poll

The Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) network has seen a massive 400% surge in activity. The number of active addresses is now approaching 395,000, indicating a significant increase in interactions with DOGE.
What Happened: According to reports, a sudden and substantial increase in Dogecoin network activity has been observed. This includes a wide range of interactions, such as transactions and trades, and often suggests changes in market sentiment, increased speculation, or heightened network engagement.
Historically, such surges in active addresses have been linked to periods of price volatility. In some cases, these spikes have been a precursor to price surges driven by growing demand and liquidity. However, they could also be a sign of a temporary speculative move that may quickly fade away.
Despite its origins as a meme coin, Dogecoin has consistently shown its potential for genuine engagement. The recent surge in activity may indicate something more than just sentiment, with the increase in transactions and involvement possibly hinting at future developments.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42380572/dogecoins-whopping-60-9b-movement-in-24-hours-a-bullish-sign">Dogecoin&#8217;s Whopping 60.9B Movement In 24 Hours: A Bullish Sign?</a>
At the time of the report, Dogecoin was trading at $0.16784, a 17.8% increase&nbsp;from the weekly lows. Whether&nbsp;this indicates an upcoming surge or a temporary shake-up in the on-chain realm, it&#8217;s clear that the market is closely watching Dogecoin.
Why It Matters: The surge in Dogecoin&#8217;s network activity is noteworthy because it suggests a heightened level of interest and engagement with the cryptocurrency. 
This could potentially lead to increased liquidity and demand, which are key factors in driving price surges. However, it&#8217;s also important to note that such spikes can sometimes be indicative of temporary speculative moves. 
Therefore, while the market is paying attention to Dogecoin, it remains to be seen whether this surge in activity will translate into a sustained increase in value.
Read Next
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Unprecedented 400% Surge in Dogecoin Network Activity: A Bullish Move?

In a high-stakes gamble, a Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) whale has initiated a short position of $332 million, facing potential liquidation if Bitcoin&#8217;s price surges to $85,000.
What Happened: A Bitcoin whale has opened a $332 million short position at an entry price of $84,040, as revealed by data from analytics platform Lookonchain. The position was leveraged 40 times, indicating that the trader borrowed 40 times the initial capital.
At the time of writing, Bitcoin was trading at $83,945, a 2.3% decrease over the past week, as per data from CoinGecko. If Bitcoin&#8217;s price hits the $85,000 mark, the trader&#8217;s massive position could face liquidation.
<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 &#x1f6a8; A WHALE HAS TAKEN TAKEN A $332M SHORT ON <a href="https://twitter.com/hashtag/BITCOIN?src=hash&amp;ref_src=twsrc%5Etfw">#BITCOIN</a> Their targets are $69,414 &amp; $58,664 <a href="https://t.co/DG77DLoC4H">pic.twitter.com/DG77DLoC4H</a>
&mdash; That Martini Guy ₿ (@MartiniGuyYT) <a href="https://twitter.com/MartiniGuyYT/status/1901223073157681355?ref_src=twsrc%5Etfw">March 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The trader, who previously netted a whopping $16.39 million within a month on the decentralized perpetual trading platform Hyperliquid, now finds himself in a precarious situation. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44065728/crypto-analyst-predicts-195-bitcoin-rally-says-bull-market-not-over-yet">Crypto Analyst Predicts 195% Bitcoin Rally, Says Bull Market Not Over Yet</a>
Some observers anticipate an inevitable liquidation due to the high-risk nature of the 40x leverage, which could obliterate the entire position with a mere 2.5% price move.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This guy shorted <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> with 40x leverage again, with a position of 3,940.8 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>($332M) and a loss of over $1M! Entry price: $84,040.8 Liquidation price: $85,300<a href="https://t.co/3fXA7ctoOh">https://t.co/3fXA7ctoOh</a> <a href="https://t.co/LmB6QhDlIc">pic.twitter.com/LmB6QhDlIc</a>
&mdash; Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1900911677719409021?ref_src=twsrc%5Etfw">March 15, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Meanwhile, CoinGlass data reveals that crypto worth $94 million has been liquidated in the past 24 hours, with shorts making up the majority ($49 million). 
The largest single liquidation happened on Binance ($582,130 with the BTC/USDT pair), accounting for 38.79% of total liquidations.
Why It Matters: This massive short position underscores the high-risk, high-reward nature of cryptocurrency trading. The trader&#8217;s previous success on the Hyperliquid platform demonstrates the potential for significant gains, but the current risk of liquidation highlights the potential for substantial losses. 
This event serves as a stark reminder of the volatility inherent in the cryptocurrency market, and the potential consequences for traders who engage in high-leverage positions.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43901226/robert-kiyosaki-says-everything-bubble-will-cause-historic-market-crash-bitcoin-will-be-fastest-to-recover" target="_blank" rel="noreferrer noopener">Robert Kiyosaki Says ‘Everything Bubble' Will Cause Historic Market Crash, Bitcoin Will Be Fastest To Recover</a>

Bitcoin Whale Takes $332 Million Short Position, Here's Where It Gets Liquidated

The close relationship between Elon Musk, the CEO of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), and President Donald Trump will be short-lived, according to <a href="https://www.benzinga.com/news/25/02/43423724/scaramucci-warns-against-trumps-tariffs-urges-lawmakers-to-take-stand-crazy-nonsense">Anthony Scaramucci, a former Trump adviser</a>.
What Happened: Scaramucci, who served a brief stint as Trump&#8217;s communications director, anticipates that Musk&#8217;s alliance with Trump may soon &#8220;burn&#8217;.&#8221; Scaramucci stated in an interview, &#8220;Everyone flames out with Trump.&#8221;
Scaramucci, a vocal critic of Trump since his dismissal from the White House after only 11 days in 2017, cautioned others against working for Trump, warning, &#8220;He&#8217;s gonna burn you.&#8221;
"There's a lot of people in my life, I say, ‘Don't go work for Trump. He's gonna burn you,'&#8221; Scaramucci <a href="https://qz.com/trump-elon-musk-doge-anthony-scaramucci-1851768418">told</a> Quartz.
He also added that he didn't believe it when other people gave him the same advice. 
"I would've said to those people: ‘No, no, no. He burns other people. He's not gonna burn me.' Then he burned me," he said. 
Musk has been in close collaboration with Trump since the election, even unofficially heading the Department of Government Efficiency. His impact on federal policy has been noticeable, with Trump acknowledging Musk&#8217;s contributions in his first address to Congress.
"I believe past performance is an indication of the future. And so there's nobody in Donald Trump's orbit that likes him," said Scaramucci. Scaramucci also called Trump an "angry guy" and "miserable" person.
Also Read: <a href="https://www.benzinga.com/news/24/12/42714291/anthony-scaramucci-tells-musk-to-stick-to-business-heres-musks-musical-response">Anthony Scaramucci Tells Musk To &#8216;Stick To Business&#8217; — Here&#8217;s Musk&#8217;s Musical Response</a>
However, Scaramucci predicts that Musk&#8217;s influence may be fleeting. &#8220;I&#8217;m&nbsp;giving him a six to&nbsp;eight month duration,&#8221; he stated. Despite this, Scaramucci doesn&#8217;t foresee Musk being entirely sidelined due to his wealth, which he believes Trump values.
He'll be jettisoned from the Trump world. He's too rich and Donald Trump respects that kind of wealth," Scaramucci said. 
Musk has been a substantial benefactor to the Republican party, contributing&nbsp;at least $288 million towards the election of Republican candidates in the 2024 election.
Why It Matters: The potential fallout between Musk and Trump could have significant implications for Tesla and its future dealings with the government. 
Musk&#8217;s influence has been instrumental in shaping federal policy, and a breakdown in this relationship could impact the company&#8217;s ability to navigate the political landscape. 
Furthermore, Musk&#8217;s substantial financial contributions to the Republican party highlight his commitment to the current administration, and a potential split could signal a shift in his political affiliations.
Read Next
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Scaramucci Sees Trouble Ahead for Musk-Trump Relationship: 'Everyone Flames Out With Trump'

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is set to introduce a slimmer iPhone 17 Air model, marking a potential shift <a href="https://www.benzinga.com/tech/25/02/43903365/apple-ditches-budget-smartphone-segment-with-iphone-16e-launch">towards portless iPhones</a>.
Bloomberg&#8217;s Mark Gurman, in his <a href="https://www.bloomberg.com/news/newsletters/2025-03-16/apple-iphone-17-air-foldable-iphone-details-ai-crisis-to-haunt-top-100-event-m8bl3a9c?srnd=undefined&amp;sref=TBDibEcD">latest</a> weekly &#8220;Power On&#8221; column, writes that the upcoming iPhone 17 Air is expected to be thinner than its predecessors, offering a blend of high-end and basic features. Despite its slim design, the device is designed to maintain a battery life similar to current iPhones.
The thin design necessitated substantial engineering efforts, including the redesign of&nbsp;display and silicon components, as&nbsp;well as software enhancements to improve device efficiency. 
However, compromises were made, such as a single 48-megapixel camera and the removal of&nbsp;a physical SIM card slot.
Also Read: <a href="https://www.benzinga.com/tech/25/03/44211544/apple-breaks-tradition-with-a-flood-of-new-releases-explores-smart-glasses">Apple Breaks Tradition With A Flood Of New Releases; Explores Smart Glasses</a>
The new model will feature Apple&#8217;s in-house modem chip, the C1, which&nbsp;is more power-efficient than those&nbsp;from Qualcomm Inc. This modem will contribute to the thin design of the Air model.
Apple initially aimed for a more ambitious design with this model, including a completely port-free iPhone. However, concerns about upsetting&nbsp;European Union regulators, who mandated&nbsp;the iPhone switch to USB-C, led to the retention of the USB-C connector in the new iPhone.
If the iPhone 17 &#8220;Air&#8221; proves successful, Apple plans to attempt port-free iPhones and transition&nbsp;more of its models to&nbsp;this slimmer approach. 
The company is also planning&nbsp;to use technologies from the&nbsp;iPhone 17 &#8220;Air&#8221; to create future models, including a foldable version expected as early as 2026. 
This move could potentially revolutionize the smartphone industry, setting a new standard for slim, efficient, and portless designs.
Read Next
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Apple's iPhone 17 Air to Usher in New Era of Slimmer, Portless Models

A growing share of Americans are dipping into their retirement nest eggs to handle immediate financial challenges, underlining the <a href="https://www.benzinga.com/25/03/44262764/kohls-ceo-warns-of-pretty-challenging-environment-for-consumers-expects-value-seeking-to-grow-over-next-3-months">economic strain many households are experiencing</a> despite strong employment figures.
Last year, 4.8% of 401(k) account holders took early withdrawals for hardship reasons like paying medical bills or paying their home mortgage, according to <a href="https://institutional.vanguard.com/content/dam/inst/iig-transformation/has/2025-preview/251114.01_HASPRE_COMM_Commentary_v7_a11y.pdf">data from Vanguard Group</a>. It marks an all-time high, jumping from 3.6% the previous year and more than doubling the typical pre-COVID rate of about 2%.
 The increase comes as Americans navigate contradictory economic conditions.&nbsp;
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<li>Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."<a href="https://www.benzinga.com/money/warren-buffet-make-money-when-you-sleep"> Here&#8217;s how you can earn passive income with just $100.</a></li>
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While unemployment remains low—the Labor Department <a href="https://www.dol.gov/ui/data.pdf">reported Thursday</a> that jobless claims fell to 2,000 from the previous week to 220,000—and wages are rising, persistent inflation in essential categories like groceries continues to strain household budgets. <a href="https://www.wsj.com/personal-finance/retirement/401k-retirement-emergency-savings-americans-6a5dfed0?mod=hp_lead_pos10">The Wall Street Journal</a> noted <a href="https://www.benzinga.com/general/market-summary/25/02/43889033/consumer-sentiment-drops-10-unitedhealth-under-investigation-whats-driving-markets-friday">declining consumer sentiment</a> alongside rising delinquencies in vehicle financing and credit card debt.
David Stinnett, head of strategic retirement consulting at Vanguard offered a measured perspective to the Journal, saying that while financial hardship itself isn&#8217;t positive, &#8220;having savings to turn to is a positive.&#8221; 
Two key factors are driving the trend. Workplace retirement plans are becoming more widespread through automatic enrollment practices. Vanguard&#8217;s figures show that 61% of retirement plans under its management now automatically sign up new employees, compared to just 36% a decade ago.
Trending: It&#8217;s no wonder Jeff Bezos holds over $250 million in art — <a href="https://www.benzinga.com/money/masterworks">this alternative asset has outpaced the S&amp;P 500 since 1995, delivering an average annual return of 11.4%. Here&#8217;s how everyday investors are getting started. </a>
Second, regulatory changes have simplified the process of accessing retirement savings during difficult times. Legislation passed in 2018 removed the previous mandate to exhaust 401(k) loan options before requesting hardship distributions. Additionally, another law passed in 2022 created provisions for emergency withdrawals up to $1,000 annually without penalties, provided the money is returned before subsequent withdrawals. 
Among those making hardship withdrawals last year, 35% did so to avoid foreclosure or eviction, down from 39% in 2023. About 16% used the funds to purchase or repair a home. The median withdrawal amount was $2,200, according to the Journal.
Traditional 401(k) hardship withdrawals still come with costs. Account holders must pay income tax on the withdrawn amount and typically face a 10% penalty if they&#8217;re younger than 59 and-a-half.
See Also: <a href="https://www.benzinga.com/money/suze-orman-retirement-bucket">&#8216;Which Bucket Do I Draw From First?&#8217; Suze Orman Explains To 67-Year-Old The Best Order For Tapping Into Her Retirement Accounts</a>
Despite the increase in early withdrawals, overall 401(k) balances rose by an average of 10% in 2024, reaching a record high of $148,153. The share of participants with outstanding 401(k) loans remained steady at 13%, unchanged from 2023 levels.
As more employers not only automatically enroll workers but also automatically increase their contribution rates—typically by 1% annually until reaching about 10% of pay—retirement accounts are increasingly serving as de facto emergency funds for Americans facing financial difficulties.
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<li>Many are using retirement income calculators to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a></li>
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Why Millions Of Americans Are Tapping Their 401(k) Savings Early

NBA icon Shaquille O&#8217;Neal once exhausted a $1 million paycheck in a single day, oblivious to the fact that a portion of his <a href="https://www.benzinga.com/general/sports/24/12/42500103/shaquille-oneals-250k-accidental-investment-turns-into-a-fortune-after-business-booms">earnings were earmarked for taxes</a>.
What Happened: O&#8217;Neal disclosed this financial faux pas during an episode of the financial literacy podcast &#8220;Earn Your Leisure.&#8221; The retired basketball superstar confessed that he had already mapped out his spending plans even before the money landed in his bank account.
Upon receipt of a $1 million check from his agent, O&#8217;Neal promptly splurged on a black Mercedes for $150,000. Subsequently, he was convinced to purchase two more luxury vehicles for his parents, with jewelry and suits also making it to his shopping list.
During the <a href="https://www.youtube.com/watch?v=XByJpQzl2DY">interview</a>, O&#8217;Neal conceded that he was uninformed about the deductions made for&nbsp;payroll taxes under the Federal&nbsp;Insurance Contributions Act (FICA). 
"I don't know no&#8230;FICA. They took [something like] $200,000," he said.
Also Read: <a href="https://www.benzinga.com/general/sports/25/03/44209990/nba-legend-shaqs-walmart-shopping-spree-ends-in-credit-card-decline-heres-how-much-he-tried-to-spend">NBA Legend Shaq&#8217;s Walmart Shopping Spree Ends In Credit Card Decline—Here&#8217;s How Much He Tried To Spend</a>
After depleting the money, he was taken aback to discover from his bank manager that he had spent his entire paycheck. This incident served as a wake-up call for him to educate himself about taxes to prevent similar financial missteps in the future.
"I had no idea what FICA, and income, state tax, sales tax were. So then I said, ‘Okay, I don't want to be like the rest of these NBA players, I got to teach myself,'&#8221; he added during the podcast. 
Why It Matters: O&#8217;Neal&#8217;s story underscores the importance of financial literacy, particularly for high-income individuals who may face complex tax situations. 
His experience serves as a reminder that understanding the basics of personal finance, including tax deductions, is crucial to avoid costly mistakes. 
It also highlights the need for financial education to be more accessible and widespread, so individuals can make informed decisions about their money.
Read Next
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Sports

Shaq Once Spent $1 Million in a Day on Luxury, Then Realized Taxes Took a Huge Cut

The burn rate of Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) has skyrocketed by over 62,000%, resulting in the removal of 505 million SHIB tokens from circulation within a single day.
What Happened: The burn rate of Shiba Inu surged by an astounding 62,000%, leading to the permanent removal of 505.6 million SHIB from circulation. A single transaction was responsible for the burn of 459.3 million SHIB, leading to speculation about its potential effect on SHIB&#8217;s price action.
Shibarium, the Layer-2 blockchain of Shiba Inu, saw a significant rise in daily transactions, from 69,800 on March 12 to 1.46 million on March 13. According to data from IntoTheBlock, large SHIB transactions increased by 64%, while daily active addresses grew by 1.1%.
<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">HOURLY SHIB UPDATE<a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> Price: $0.00001268 (1hr -1.44% ▼ &#x7C; 24hr -0.51% ▼ ) Market Cap: $7,473,510,302 (-0.54% ▼) Total Supply: 589,254,668,976,984 TOKENS BURNT Past 24Hrs: 796,088 (-71.55% ▼) Past 7 Days: 535,582,404 (507.03% ▲)
&mdash; Shibburn (@shibburn) <a href="https://twitter.com/shibburn/status/1901242087405649972?ref_src=twsrc%5Etfw">March 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
On-chain data shows that 104.14 trillion SHIB ($1.27 billion) is now &#8220;in the money&#8221;, indicating profitable investments for many. However, a staggering 846.99 trillion SHIB remains "out of the money," signifying losses for a large number of holders.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43768843/shiba-inu-coin-burns-over-58-million-tokens-as-weekly-price-increases">Shiba Inu Coin Burns Over 58 Million Tokens As Weekly Price Increases</a>
As of the time of reporting, SHIB is trading at $0.00001215, with a market cap of $7.16 billion and a 24-hour trading volume exceeding $200 million. 
The development team of Shiba Inu is also expanding its ecosystem, with the marketing lead announcing Shib OS, a decentralized governance platform, on March 13.
Why It Matters: The sudden surge in Shiba Inu&#8217;s burn rate and the removal of a significant number of tokens from circulation could potentially impact the token&#8217;s price. 
The increase in daily transactions on Shibarium and the growth in daily active addresses indicate a heightened activity around SHIB. However, with a large amount of SHIB still "out of the money," the future price action of SHIB remains uncertain. 
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42935252/shiba-inu-burns-skyrocket-by-300-amid-calls-for-larger-burns-from-shib-army" target="_blank" rel="noreferrer noopener">Shiba Inu Burns Skyrocket by 300% Amid Calls for Larger Burns From SHIB Army</a>

Shiba Inu's Burn Rate Soars, Removing 505 Million Tokens From Circulation

Former NBA superstar Allen Iverson is taking a swing at the golf industry. Iverson, who once lost a $200 million fortune, is now attempting to rebuild his wealth through a venture into golf. 
What Happened: This new endeavor is in partnership with sportswear giant Reebok and fellow NBA legend Shaquille O'Neal. Iverson, who amassed $155 million during his 17-year NBA career, found himself filing for bankruptcy in 2012. 
His financial downfall was a result of excessive spending on luxury cars, jewelry, and extravagant nights out, reports <a href="https://talksport.com/basketball/2085310/allen-iverson-net-worth-reebok-golf-shaquille-oneal/">the </a>Talksport. 
However, Iverson&#8217;s financial prospects improved significantly after striking a deal with Reebok. This partnership guarantees him an annual income of $800,000 and a $32 million trust fund when he turns 55. 
In 2020, he took on the role of vice-president of the basketball division at Reebok, working under NBA icon, Shaquille O'Neal.
Also Read: <a href="https://www.benzinga.com/general/sports/25/03/44209990/nba-legend-shaqs-walmart-shopping-spree-ends-in-credit-card-decline-heres-how-much-he-tried-to-spend">NBA Legend Shaq&#8217;s Walmart Shopping Spree Ends In Credit Card Decline—Here&#8217;s How Much He Tried To Spend</a>
In addition to this, Iverson has ventured into the cannabis industry, launching his own strain in collaboration with ex-NBA star Al Harrington, founder of cannabis company Viola. 
Despite his previous financial struggles, Iverson&#8217;s net worth is now estimated at $1 million.
Why It Matters: Reebok, which was bought by Authentic Brands Group in 2021 for approximately $2.5 billion, is now launching a golf range. 
The new line features the Question Golf, a shoe that pays homage to Iverson and his basketball silhouette. This venture into golf represents a significant shift for Iverson, who is best known for his achievements on the basketball court. 
It also signifies a strategic move by Reebok to diversify its product offerings and tap into the lucrative golf market.
Read Next
<a href="https://www.benzinga.com/general/sports/24/12/42500103/shaquille-oneals-250k-accidental-investment-turns-into-a-fortune-after-business-booms" target="_blank" rel="noreferrer noopener">Shaquille O'Neal's $250K ‘Accidental' Investment Turns Into A Fortune After Business Booms</a>

'I Blew $200M On Cars And Parties—Now I'm Back As A Millionaire With Shaq's $2.5B Brand,' Says Former NBA Superstar Allen Iverson

Billionaire investor&nbsp;Mark Cuban&nbsp;emphasized the significance of trusting one&#8217;s instincts, particularly for small business owners, as a key to achieving success.
What Happened: During a recent interview, Cuban highlighted the necessity for entrepreneurs to stay focused on their personal objectives and disregard irrelevant advice. 
At 66, Cuban cautioned entrepreneurs against being influenced by diverse ideas that could potentially overshadow a promising opportunity. 
He recommended selling to customers rather than being sold to by them. However, he also underscored the value of customer feedback, especially when a product or service does not meet expectations.
"When you're just getting started in a small business, it's easy to drown an opportunity if you let yourself get pulled by different ideas. People tell you, ‘Oh I love your product, but I would buy more if you only did this or if you change just one little thing.' You have to sell to them versus them selling to you," Cuban <a href="https://www.cnbc.com/2025/03/14/billionaire-mark-cuban-you-need-this-personality-trait-to-be-successful.html">told</a> CNBC.
Also Read: <a href="https://www.benzinga.com/tech/25/03/44067809/mark-cuban-shares-two-things-hed-do-at-12-to-succeed-and-they-work-for-everyone">Mark Cuban Shares Two Things He&#8217;d Do At 12 To Succeed — And They Work For Everyone</a>
Cuban suggested that sales figures are a reliable measure of a business&#8217;s trajectory.&nbsp;&#8220;When you see there&#8217;s no&nbsp;money coming in,&#8221; that&#8217;s an indication to modify strategies, he advised.
Cuban also shared his personal journey of confidence-building, a characteristic he believes is not inherently present in everyone. He developed his confidence by learning to dance, an activity that&nbsp;made him feel competent and&nbsp;capable of acquiring new skills.
Why It Matters: Cuban&#8217;s advice comes at a time when many small businesses are struggling to navigate the challenges of the market. 
His emphasis on trusting one&#8217;s instincts, focusing on personal goals, and the importance of customer feedback provide valuable insights for entrepreneurs. 
His personal journey of building confidence also serves as an inspiration for many who are in the process of developing their own businesses.
Read Next
<a href="https://www.benzinga.com/news/25/02/43581429/mark-cubans-400k-bet-on-teen-founder-comes-with-an-unexpected-invitation-i-want-my-daughters-to-meet-you-and-learn-from-you" target="_blank" rel="noreferrer noopener">Mark Cuban's $400K Bet On Teen Founder Comes With An Unexpected Invitation: ‘I Want My Daughters To Meet You, And Learn From You'</a>

Success Stories

Mark Cuban Reveals the Key Personality Trait You Need to Succeed

<h2 class="wp-block-heading">Man Sentenced To 78 Months In Prison For Tax Crimes, Investment Fraud</h2>
Rick Tariq Rahim of Great Falls, Virginia <a href="https://www.justice.gov/opa/pr/virginia-businessman-sentenced-tax-and-investment-fraud">was sentenced</a> on Friday to 78 months in prison for tax crimes and a wire <a href="https://www.benzinga.com/government/regulations/25/02/43903335/financial-crime-weekly-1-4-billion-ethereum-stolen-in-largest-crypto-hack-ever-sec-creates-cyber-and-emerging-technologies-unit">fraud scheme.&nbsp;</a>
Rahim owned multiple businesses, including laser tag facilities and an Amazon reseller, failed to pay the IRS taxes withheld from employees' wages and neglected to file quarterly employment tax returns from 2015 to 2021.&nbsp;
Read Next: <a href="https://www.benzinga.com/government/regulations/25/03/44310724/doge-cuts-to-ftc-sow-confusion-in-case-against-amazon">DOGE Cuts To FTC Sow Confusion In Case Against Amazon</a>&nbsp;
Additionally, between 2010 and 2012, he filed personal tax returns showing significant liabilities but did not pay the owed amounts. Rahim provided false information to the IRS, omitting assets such as a helicopter, luxury cars –including a Bentley and Lamborghini– and real estate. Shortly after, he transferred ownership of his Great Falls property to his wife.
Despite earning over $34 million in gross income since 2012, Rahim has not filed a personal tax return during that period, causing the IRS at least $4.4 million in losses.
Rahim also defrauded investors through automated trading bots marketed on social media platforms like TikTok, YouTube, and Discord. He falsely claimed to beat the stock market daily and promised high returns while showcasing his wealth with luxury items and properties.&nbsp;
However, he concealed trading losses exceeding $500,000 from February 2021 to December 2022. He earned at least $1.4 million in subscription fees, but lost over $300,000 of clients' funds within eight months.
As part of his sentence, Rahim agreed to forfeit over $1.3 million and pay restitution to both the IRS and victims of his investment fraud.
<h2 class="wp-block-heading">Woman Convicted Of $20 Million Insurance Fraud, Money Laundering </h2>
A federal jury on Tuesday convicted Maureen Wilson of Owings Mills, Maryland, for her involvement in a massive insurance fraud scheme. Wilson was found guilty of conspiracy to commit insurance fraud, wire fraud, money laundering and filing <a href="https://www.justice.gov/opa/pr/maryland-woman-convicted-20m-insurance-fraud-scheme">false tax returns</a>.
The evidence presented at trial revealed that Wilson and her husband, James Wilson, orchestrated a complex fraud operation involving over 40 life insurance policies with total death benefits exceeding $20 million. They misrepresented applicants&#8217; health, wealth and existing life insurance coverage to obtain these policies fraudulently.
To further their scheme, the Wilsons defrauded individual investors to secure funds for paying premiums on the fraudulently obtained life insurance policies. They attempted to conceal their illicit gains by transferring money through multiple bank accounts, including trust accounts.
Wilson also filed false individual income tax returns for 2018 and 2019, failing to report approximately $5.7 million and $2 million in fraudulent income, respectively.
The jury convicted Wilson on multiple charges, including conspiracy to commit mail and wire fraud, mail fraud, wire fraud, conspiracy to commit money laundering, money laundering and filing false tax returns.
Sentencing is scheduled for June 20, where Wilson faces a maximum penalty of 20 years in prison for each count of conspiracy, wire fraud, mail fraud and money laundering, as well as up to three years for each count of filing a false tax return.
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Image: Shutterstock&nbsp;

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