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NCS Multistage Holdings

NCS Multistage Holdings Inc is a provider of engineered products and support services that facilitate the optimization of oil and natural gas well construction, well completions and field development strategies. NCS provides its products and services to exploration and production companies for use in onshore wells, predominantly wells that have been drilled with horizontal laterals in unconventional oil and natural gas formations. The company's offering is its fracturing systems products and services, which enable efficient pinpoint stimulation: the process of individually stimulating each entry point into a formation targeted by an oil or natural gas well. It sell products and services in North America and in selected international markets.

NCS Multistage Holdings, Inc. - Common Stock

NCS Multistage Holdings Inc

Economist Peter Schiff criticized President Donald Trump&#8216;s proposed 100% tariff on foreign-produced movies, questioning its implementation and suggesting that Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) subscribers would ultimately bear the cost.
What Happened: &#8220;Today Trump announced a 100% tariff on movies produced outside of the United States. But movies aren&#8217;t physical goods that come across the border in a way that a tariff can be applied,&#8221; Schiff wrote Sunday on X. &#8220;This would be some new kind of federal excise tax on Americans who watch movies filmed abroad.&#8221;
When a user on X suggested the tariff would only apply to physical DVDs, Schiff responded, "There are very few of those these days&#8230; I think it's meant to apply to theatrical releases and streaming services too. Otherwise it's pointless." He added that if Netflix collects the tax, "It's paid by Netflix subscribers."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Today Trump announced a 100% tariff on movies produced outside of the United States. But movies aren&#39;t physical goods that come across the border in a way that a tariff can be applied. This would be some new kind of federal excise tax on Americans who watch movies filmed abroad.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1919210518440472984?ref_src=twsrc%5Etfw">May 5, 2025</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">There are very few of those these days. I think it&#39;s meant to apply to theatrical releases and streaming services too. Otherwise its pointless.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1919211625862557891?ref_src=twsrc%5Etfw">May 5, 2025</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Well if they do they just collect the tax. It&#39;s paid by Netflix subscribers.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1919214644574478689?ref_src=twsrc%5Etfw">May 5, 2025</a></blockquote>
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Trump announced the measure on his Truth Social platform Sunday, calling foreign film incentives &#8220;a concerted effort by other Nations and, therefore, a National Security threat.&#8221;
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&mdash; Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1919170273288331603?ref_src=twsrc%5Etfw">May 4, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/personal-finance/25/05/45183970/behind-the-empty-docks-how-trumps-145-tariffs-are-gutting-u-s-supply-chains">Behind The Empty Docks: How Trump&#8217;s 145% Tariffs Are Gutting U.S. Supply Chains</a>
Why It Matters: The policy comes as Netflix co-CEO Ted Sarandos recently claimed the streaming giant &#8220;saved Hollywood&#8221; while acknowledging the traditional theater experience <a href="https://www.benzinga.com/general/entertainment/25/04/44995039/netflix-ceo-says-streaming-company-saved-hollywood-as-stock-hits-new-all-time-highs">might be &#8220;outmoded&#8221; for many viewers</a>. 
The proposed tariff follows Trump&#8217;s January appointment of actors Jon Voight, Sylvester Stallone and Mel Gibson to revitalize Hollywood, Reuters reported. Film production has increasingly moved overseas to locations offering tax incentives, with about half of high-budget projects filming outside the U.S. in 2023, according to research firm ProdPro.
Critics warn that retaliatory measures could harm U.S. interests. &#8220;The retaliation will kill our industry. We have a lot more to lose than to gain,&#8221; said William Reinsch, former senior Commerce official and Center for Strategic and International Studies fellow, according to Reuters.
Read Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/movers/25/05/45187216/bitcoin-ethereum-dogecoin-slide-as-traders-turn-cautious-before-fed-meeting-analyst-foresees-btc-correction-to-86000">Bitcoin, Ethereum, Dogecoin Slide As Traders Turn Cautious Before Fed Meeting: Analyst Foresees BTC &#8216;Correction&#8217; To $86,000</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Government

News

Education

Economics

Markets

NFLX

Peter Schiff Says Trump's 100% Tariff On Foreign Films 'Pointless,' Warns Netflix Subscribers Would Bear Cost

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly planning a significant shift in its iPhone release strategy, beginning with the iPhone 18 series in 2026.
What Happened: According to three unnamed supply chain sources under the new approach, Apple would release its high-end models, such as the iPhone 18 Pro and iPhone 18 Pro Max, in the fall.&nbsp;The more affordable models like the base iPhone 18, iPhone 18 Slim and iPhone 18e would follow in the spring of 2027, reported Engadget on Sunday (<a href="https://www.theinformation.com/articles/apple-plans-iphone-release-schedule-shakeup-new-styles">via</a> The Information).
The report also suggests Apple could debut its long-rumored foldable iPhone alongside the Pro models in fall 2026.
See Also:&nbsp;<a href="https://www.benzinga.com/25/04/44855242/charlie-munger-once-highlighted-how-warren-buffetts-lifelong-learning-made-berkshire-hathaways-success-possible-and-the-crucial-lesson-you-can-take-from-it" target="_blank" rel="noreferrer noopener">Charlie Munger Once Said Warren Buffett Is A ‘Learning Machine&#8217; And That&#8217;s What Lies Beneath Berkshire Hathaway&#8217;s Success From One Decade To Another</a>
This marks a major departure from Apple's current release strategy, which traditionally sees all new iPhone models unveiled together every September.
While Apple has stuck to a fall release window since the iPhone 5 in 2012, it has shown some signs of schedule flexibility. The iPhone SE line typically debuted in the spring, and Apple released the iPhone 16e <a href="https://www.benzinga.com/tech/25/02/43903365/apple-ditches-budget-smartphone-segment-with-iphone-16e-launch">in February 2025</a>—possibly as a replacement for the SE range, the report said.
For now, Apple is expected to stick with its traditional four-model launch for the iPhone 17 <a href="https://www.benzinga.com/25/04/44917129/apple-ceo-tim-cook-gets-anxious-over-this-issue-threatening-the-inventory-of-iphone-17-he-is-pushing-suppliers-every-day">series this September</a>.
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.
Why It&#8217;s Important: Apple reported <a href="https://www.benzinga.com/news/earnings/25/05/45152493/apple-reports-strong-q2-earnings-revenue-beat-eps-beat-installed-base-hits-all-time-high-across-all-segments-100-billion-buyback-and-more">fiscal second-quarter revenue</a> of $95.36 billion, beating Wall Street's estimate of $94.53 billion. Looking ahead to the June quarter, the company expects revenue to grow in the low-to-mid-single-digit range, with a projected gross margin between 45.5% and 46.5%.
iPhone sales came in at $46.84 billion, up from $45.96 billion in the same quarter last year.
During the earnings call, Apple CEO Tim Cook said the company anticipates a<a href="https://www.benzinga.com/news/25/05/45179101/apple-ceo-tim-cook-warns-of-900-million-tariff-impact-in-june-quarter-expects-majority-of-iphones-so"> $900 million cost impact</a> from tariffs in the June quarter.
Price Action: Apple shares dropped 3.74% during Friday's regular trading session and slipped another 0.15% in after-hours trading, ending the day at $205.04, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
According to Benzinga Edge's Stock Rankings, Apple holds a growth score of 44.92% and a momentum score of 77.92%. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see how it stacks up against other leading tech stocks</a>.
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>.
Read Next:
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<li><a href="https://www.benzinga.com/25/05/45126668/apple-lied-under-oath-judge-says-tim-cook-ignored-internal-warnings-in-epic-games-case-fallout-this-is-an-injunction-not-a-negotiation" target="_blank" rel="noreferrer noopener">Apple Executive ‘Outright Lied,' Says Judge In Epic Case Fallout — Tim Cook ‘Chose Poorly'</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with&nbsp;the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was&nbsp;reviewed and published by Benzinga editors.
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Tech

Media

General

AAPL

Apple To Split iPhone Launches Starting 2026, Foldable Model May Debut With iPhone 18 Pro: Report

Treasury Secretary Scott Bessent defended President Donald Trump&#8216;s economic agenda on Sunday in an op-ed, arguing that the administration&#8217;s approach will benefit Main Street while maintaining Wall Street&#8217;s strength.
What Happened: &#8220;President Trump intends to usher in the most prosperous decade in American history—but not at the cost of the spiritual degradation of the working class,&#8221; Bessent wrote in an opinion <a href="https://www.wsj.com/opinion/trumps-three-steps-to-economic-growth-tariffs-trade-tax-cuts-deregulation-7804053a">piece</a> published with the Wall Street Journal, outlining a three-step strategy to rebalance the economy.
The plan centers on renegotiating global trade through tariffs, making the 2017 tax cuts permanent while eliminating taxes on tips, overtime and Social Security, and aggressive deregulation to accelerate domestic manufacturing.
Bessent argued these policies work together as &#8220;interlocking parts of an engine designed to drive economic growth and domestic manufacturing,&#8221; not as isolated measures as critics suggest.
The Treasury Secretary&#8217;s defense comes amid mixed economic signals. While April&#8217;s jobs report beat expectations with 177,000 new positions and inflation has cooled with the first decline in consumer prices since COVID, Gross Domestic Product&nbsp;(GDP) contracted 0.3% in the first quarter of 2025—<a href="https://www.benzinga.com/markets/25/04/45124644/trump-blames-gdp-contraction-on-biden-overhang-nothing-to-do-with-the-tariffs">the first contraction in three years</a>.
See Also: <a href="https://www.benzinga.com/25/05/45187042/elon-musk-changes-x-name-to-gorklon-rust-sends-grok-parody-memecoins-skyrocketing">&#8216;Gorklon Rust&#8217;? Elon Musk Trolls With Grok Parody, Sends Memecoins Soaring: &#8216;Did U Have To Copy My Whole Face?&#8217;</a>
Why It Matters: Trump has distanced himself from <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/45107728/trump-labels-market-decline-bidens-stock-market-as-he-distances-tariffs-from-downturn">recent market volatility</a>, calling it &#8220;Biden&#8217;s stock market&#8221; with an &#8220;overhang&#8221; from the previous administration that &#8220;has nothing to do with tariffs.&#8221;
A Reuters/Ipsos poll showed Trump&#8217;s <a href="https://www.benzinga.com/markets/25/04/44948841/trump-economic-approval-rating-drops-to-37-as-market-selloff-erodes-public-support-poll">economic approval rating</a> has dropped to 37%, down from 42% following his January inauguration, with 75% of respondents fearing a recession.
Despite broader market concerns, Fundstrat's Tom Lee backed Bessent's <a href="https://www.benzinga.com/markets/equities/25/04/45032188/tom-lee-backs-scott-bessent-white-house-put-theory-as-nasdaq-flips-from-worst-april-start-since-great-depression-to-major-comeback">outlook on market resilience</a>, describing the recent equity rebound as a "White House put." 
Since bottoming at 4,928 on April 9, the S&amp;P 500—as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)—has climbed 15.38% to 5,686, while the tech-heavy Nasdaq 100, as tracked by Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) surged 17.62%, rising from 17,090 to 20,102 during the same period.
Read Next: 
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<li><a href="https://www.benzinga.com/news/earnings/25/05/45187313/warren-buffett-and-his-successor-greg-abel-say-berkshire-hathaway-could-hold-this-20b-bet-for-50-years-or-forever">Warren Buffett And His Successor Greg Abel Say Berkshire Hathaway Could Hold This $20B Bet For &#8217;50 Years Or Forever&#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.

Scott Bessent Defends Trump's Economic Agenda As 'Engine Designed To Drive Economic Growth,' Despite GDP Contraction And Falling Approval

In what was likely the final Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>, NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) annual shareholders meeting with Warren Buffett at the helm, the legendary investor made a rare public acknowledgment, praising an executive in attendance who has played a significant role in shaping Berkshire's financial performance in recent years.
What Happened: On Saturday, during his opening remarks at Berkshire&#8217;s annual shareholders meeting, Buffett took a moment to publicly praise Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) CEO Tim Cook, who was in the audience.
Buffett said that he had listened to Apple's first-quarter earnings call on Thursday, adding that it's the only quarterly earnings call he tunes into, underscoring the importance he places on the company, which is still Berkshire&#8217;s largest holding <a href="https://benzinga.com/news/earnings/25/02/43756510/berkshire-hathaway-adjusts-portfolio-keeps-apple-stake-unchanged-offloads-stakes-in-bofa">valued at $75 billion</a>.
See More: <a href="https://www.benzinga.com/markets/25/05/45184366/buffett-dismisses-rumors-of-stockpiling-cash-for-successor-greg-abel-i-wouldnt-do-anything-nearly-so-nobl">Buffett Dismisses Rumors Of Stockpiling Cash For Successor Greg Abel: &#8216;I Wouldn&#8217;t Do Anything Nearly So Noble Just So Greg Could Look Good&#8217;</a>
&#8220;I'm somewhat embarrassed to say that Tim Cook has made Berkshire a lot more money than I've ever made,&#8221; Buffett told the audience, referencing the remarkable 680% surge in Apple's stock since Berkshire first began acquiring shares in early 2016.
He also reflected on the late Steve Jobs, crediting him for building Apple, but credited Cook for turning the company into what it is today. &#8220;Nobody but Steve could have created Apple, but nobody but Tim could have developed it as he has,&#8221; he said. 
&#8220;Steve picked Tim to succeed him, and he really made the right decision,&#8221; Buffett said, as the Oracle of Omaha prepares to <a href="https://www.benzinga.com/25/05/45184410/warren-buffett-to-step-down-as-berkshire-hathaway-ceo-by-end-of-year-asks-board-to-confirm-greg-abel-as-successor">hand over the reins</a> to his own successor, Greg Abel, later this year.
Why It Matters: In 2024, Berkshire&#8217;s <a href="https://benzinga.com/25/05/45184648/warren-buffett-held-72-billion-in-apple-stock-but-still-used-a-20-samsung-flip-phone-i-dont-throw-anything-away-until-ive-had-it-25-years">stake in Apple</a> was valued at $174 billion, which the company had <a href="https://www.benzinga.com/25/04/44700934/warren-buffett-says-the-single-most-important-trait-in-a-business-is-pricing-power-if-you-need-a-prayer-to-raise-prices-its-a-terrible-business">acquired for $40 billion</a> over several years. 
The conglomerate has, however, been <a href="https://benzinga.com/25/05/45184648/warren-buffett-held-72-billion-in-apple-stock-but-still-used-a-20-samsung-flip-phone-i-dont-throw-anything-away-until-ive-had-it-25-years">shedding its holdings</a> in the company throughout the past year, having sold nearly 70% of the 905 million shares it held at its peak. 
Berkshire reported its <a href="https://www.benzinga.com/news/earnings/25/05/45183890/berkshire-hathaways-q1-2025-earnings-plunge-amid-tariff-concerns-operating-profit-fell-14-cash-hit-a-record">first quarter results</a> on Saturday, with operating profits during the quarter taking a 14% plunge to $9.64 billion, amid a dip in underwriting profits owing to wildfires in Southern California. 
Read More: 
<ul>
<li><a href="https://www.benzinga.com/markets/25/05/45183000/warren-buffetts-right-hand-man-greg-abel-is-quietly-taking-over-day-to-day-leadership-at-berkshire-hathaway-gotten-much-more-involved-in-capital-allocation-decisions">Warren Buffett&#8217;s Right-Hand Man Greg Abel Is Quietly Taking Over Day-To-Day Leadership At Berkshire Hathaway: &#8216;Gotten Much More Involved In Capital Allocation Decisions&#8217;</a></li>
</ul>
Image Via Shutterstock

Earnings

Warren Buffett Says He Is 'Embarrassed,' But 'Tim Cook Has Made Berkshire A Lot More Money Than I've Ever Made'

President Donald Trump refuted claims that he is financially benefiting from his Official Trump (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) meme coin during an interview that aired Sunday.
What Happened: In a wide-ranging <a href="https://www.nbcnews.com/politics/trump-administration/read-full-transcript-president-donald-trump-interviewed-meet-press-mod-rcna203514">interview </a>with NBC News, Trump was asked about his potential financial gains from the Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based cryptocurrency, to which he responded, &#8220;I&#8217;m not profiting from anything.&#8221;
&#8220;I haven't even looked," Trump said, implying he was unaware of the coin&#8217;s gains and the market valuation it has spawned since launch. "If I own stock in something, and I do a good job, and the stock market goes up, I guess I'm profiting."
See Also:&nbsp;<a href="https://benzinga.com/general/education/24/11/42125880/if-you-bought-1-worth-of-bitcoin-at-launch-heres-how-much-youd-have-today-2" target="_blank" rel="noreferrer noopener">If You Bought $1 Worth Of Bitcoin At Launch, Here&#8217;s How Much You&#8217;d Have Today</a>
Trump stated that he started endorsing cryptocurrency before his presidency. &#8220;I want crypto. I think crypto's important because if we don't do it, China's going to. And it's new, it's very popular, it's very hot.&#8221;
When Trump was asked if he would donate cryptocurrency earnings back to the government, he replied, &#8220;Should I contribute all of my real estate that I've owned for many years if it goes up a little bit because I'm president and doing a good job? I don't think so.&#8221;
Why It Matters: Trump&#8217;s denial adds another layer to the ongoing debate surrounding the ethical implications of his involvement in the cryptocurrency market.
TRUMP&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/45027557/trumps-memecoin-dinner-event-sparks-impeachment-call-from-democratic-senator-says-potus-is-selling-access-to-those-who-enrich-him" target="_blank" rel="noreferrer noopener">top holders were promised an exclusive dinner</a> with Trump, causing a dramatic surge in value, but also birthed accusations of potential corruption. Sen. Jon Ossoff (D-Ga.) deemed the act an impeachable offense, while Sen. Elizabeth Warren (D-Mass.) requested the U.S. Office of Government Ethics to investigate a potential violation of federal ethics regulations.
The meme coin, 80% of whose supply is controlled by an affiliate of the&nbsp;Trump Organization,&nbsp;emphasizes that TRUMP is not a political initiative or investment opportunity but an expression of support for Trump's ideals. 
The token bumped to an all-time high of $75.35 shortly after its launch but has since cratered more than 85%.
Price Action: At the time of writing, TRUMP was exchanging hands at $11.12, up $0.12 in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next:&nbsp;
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</ul>
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>
Photo Courtesy: Kirill Aleksandrovich On Shutterstock.com

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$SOL

$TRUMP

Trump Denies Personal Profit From Memecoin Venture: 'I Haven't Even Looked'

Prominent Wall Street analyst Dan Ives has highlighted Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) as &#8220;the missing piece in the AI puzzle&#8221; just a day before the company&#8217;s highly anticipated earnings report on Monday.
What Happened: &#8220;Karp &amp; Co. are a major barometer for the pace of U.S. commercial AI projects and initiatives and we expect good news from the Messi of AI on Monday,&#8221; the Wedbush Securities analyst wrote on social media platform X on Sunday, referring to Palantir CEO Alex Karp. Ives said Palantir remains &#8220;one of our top tech names to own.&#8221;
The endorsement comes as Palantir shares trade near all-time highs, surging 392% in the past year. During Friday&#8217;s session, the stock climbed 6.95% to $124.28 amid building investor enthusiasm.
Palantir has secured several <a href="https://www.benzinga.com/trading-ideas/movers/25/04/45113101/palantir-stock-is-up-55-ytd-heading-into-earnings-next-week-whats-going-on">high-profile defense contracts recently</a>, including delivering two battlefield TITAN systems to the U.S. Army and announcing a new partnership with NATO Allied Command Operations to provide AI-powered military technology. The company&#8217;s Maven Smart System aims to enhance battlefield decision-making through advanced artificial intelligence.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The missing piece in the AI puzzle for the Street remains Palantir&#8230;as Karp &amp; Co. are a major barometer for the pace of US commercial AI projects and initiatives and we expect good news from the Messi of AI on Monday. Palantir remains one of our top tech names to own &#x1f525;&#x1f3c6;&#x1f402;&#x1f37f;
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1919064246119203120?ref_src=twsrc%5Etfw">May 4, 2025</a></blockquote>
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</figure>
See Also: <a href="https://www.benzinga.com/25/05/45187070/warren-buffett-retires-after-decades-of-dominancefrom-tim-cook-to-mark-cuban-worlds-top-business-leaders-react-to-the-investment-icons-exit">&#8216;Curtain Call For The Captain:&#8217; Tim Cook, Bill Gates, Mark Cuban And Other Top Business Leaders React As Warren Buffett Bows Out</a>
Why It Matters: In the fourth quarter of 2024, Palantir <a href="https://www.benzinga.com/news/25/05/45173004/palantir-pltr-stock-is-up-over-400-ahead-of-mondays-earnings-report-whats-going-on">posted $827.52 million in revenue</a> and 14 cents in adjusted earnings per share, beating analyst estimates. U.S. revenue grew 52% year-over-year, and the company closed 129 deals worth over $1 million.
For the first quarter of 2025, analysts expect earnings of 13 cents per share on revenue of $862.83 million. The company has <a href="https://www.benzinga.com/trading-ideas/movers/25/04/45113101/palantir-stock-is-up-55-ytd-heading-into-earnings-next-week-whats-going-on">projected full-year 2025 revenue</a> of up to $3.76 billion.
While Ives remains bullish, not all analysts share his optimism. RBC Capital maintains an Underperform rating with a $40 price target, highlighting the divided sentiment on Wall Street <a href="https://www.benzinga.com/trading-ideas/movers/25/04/45113101/palantir-stock-is-up-55-ytd-heading-into-earnings-next-week-whats-going-on">regarding Palantir&#8217;s valuation</a>.
Karp recently defended the <a href="https://www.benzinga.com/tech/25/05/45127004/palantir-ceo-alex-karp-says-dont-become-a-product-of-an-ideology-as-he-urges-silicon-valley-to-fight-back-with-open-debate-on-ai-and-defense">company&#8217;s role in defense technology</a>, saying at the Hill &amp; Valley Forum that &#8220;the obvious solution to war is to have the West have the strongest, most precise, deadly weapons possible&#8230; so that we can minimize unnecessary innocent deaths.&#8221;
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/movers/25/05/45187216/bitcoin-ethereum-dogecoin-slide-as-traders-turn-cautious-before-fed-meeting-analyst-foresees-btc-correction-to-86000">Bitcoin, Ethereum, Dogecoin Slide As Traders Turn Cautious Before Fed Meeting: Analyst Foresees BTC &#8216;Correction&#8217; To $86,000</a></li>
</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

PLTR

Dan Ives Calls Palantir The 'Missing Piece' In AI Puzzle, Expects 'Good News' From Alex Karp's Company On Monday

On Friday, President Donald Trump said he would consider pushing back the June 19 deadline for ByteDance to sell TikTok's U.S. operations if <a href="https://www.benzinga.com/news/25/04/44613084/amazon-makes-surprise-bid-for-tiktok-amid-us-ban-threat-report">a deal is not finalized </a>in time. This marks the third time he's granted a reprieve to the short video app used by over 170 million Americans.
What Happened: In an interview with NBC News&#8217; Meet the Press, Trump said, "I'd like to see it done."
"Perhaps I shouldn&#8217;t say this, but I have a little warm spot in my heart for TikTok," he stated, adding, "TikTok is, it&#8217;s very interesting, but it&#8217;ll be protected. It will be very strongly protected, but if it needs an extension, I would be willing to give it an extension. It might not need it."
See Also: <a href="https://www.benzinga.com/25/05/45187070/warren-buffett-retires-after-decades-of-dominancefrom-tim-cook-to-mark-cuban-worlds-top-business-leaders-react-to-the-investment-icons-exit">&#8216;Curtain Call For The Captain:&#8217; Tim Cook, Bill Gates, Mark Cuban And Other Top Business Leaders React As Warren Buffett Bows Out</a>
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="President Trump says he'll build and self-fund a ‘world-class' ballroom in the White House" width="500" height="281" src="https://www.youtube.com/embed/RJ1iYPlMO-U?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
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.
Why It's Important: The law, passed under his second administration, required China-based ByteDance to divest TikTok's U.S. assets by Jan. 19 or face a nationwide ban.
Trump, who returned to office on Jan. 20, <a href="https://benzinga.com/25/03/44345433/tiktok-ban-deadline-looms-but-vice-president-jd-vance-confirms-high-level-us-ownership-deal-is-nearly-done">opted not to enforce it</a> and instead issued extensions — first to April, then again to June 19. During his first term, Trump wanted to ban TikTok, citing national security concerns over its ownership by China-based ByteDance.
A deal had been underway to spin off TikTok's U.S. operations into a company controlled by American investors, but those efforts stalled after China signaled it would not approve the arrangement.
The freeze followed Trump's announcement of sweeping <a href="https://www.benzinga.com/25/04/44655624/trumps-tariff-hike-pushes-back-tiktok-us-deal-as-china-opposes-the-sale-extending-the-deadline-for-bytedances-divestment">145% tariffs on some Chinese goods</a>, which further complicated U.S.-China negotiations.
In April, Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) unexpectedly submitted a last-minute bid to acquire all of TikTok. Meanwhile, other major players like Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) and Blackstone Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) are actively exploring alternative strategies to restructure TikTok's U.S. operations.
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>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/01/42758430/tiktok-fined-10-million-in-venezuela-as-supreme-court-blames-platform-for-failing-to-prevent-deadly-viral-challenges" target="_blank" rel="noreferrer noopener">TikTok Fined $10 Million In Venezuela, Funds To Be Used To Compensate Victims Of Deadly Viral Challenges</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: XanderSt / Shutterstock.com

AMZN

ORCL

Trump Open To Extending TikTok Deadline, Says He Has 'Warm Spot' For The App

What began quietly years ago has grown into a defining long-term play for Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), as the company signals no intention of slowing down or reassessing its $20 billion bet on Japanese trading companies, amid a changing macro climate. 
What Happened: On Saturday, during Berkshire&#8217;s annual shareholder meeting, Warren Buffett addressed a question from the audience regarding the company's investments in Japan and his outlook on the same in light of a potential interest rate hike by the Bank of Japan.
Buffett said he was unfazed by the macro backdrop, stating, &#8220;I'll let the people of Japan determine their best course of action in terms of economics.&#8221; 
He then went on to reaffirm his confidence in the five Japanese trading companies, Mitsubishi (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MSBHF#OTC">MSBHF</a>), Marubeni (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MARUY#OTC">MARUY</a>), Mitsui (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MITSY#OTC">MITSY</a>), Sumitomo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMFG#NYSE">SMFG</a>) and Itouchi (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ITOCY#OTC">ITOCY</a>), while expressing continued optimism about both their prospects and the broader Japanese economy.
See More: <a href="https://www.benzinga.com/news/25/05/45185944/warren-buffett-shares-surprising-advice-for-young-investors-and-its-not-about-stocks-who-you-associate-with-is-just-enormously-important">Warren Buffett Shares Surprising Advice for Young Investors—And It&#8217;s Not About Stocks: &#8216;Who You Associate With Is Just Enormously Important&#8217;</a>
Buffett noted that when he first acquired stakes in these trading houses six years ago, they were &#8220;selling at ridiculously low prices.&#8221; His conviction deepened over time, he added, as he got to know the companies and their leadership teams better.
&#8220;Japan's record has been extraordinary,&#8221; he said, pointing to the strong presence of several major American companies in the region, including several Berkshire holdings like Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Coca-Cola Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), and American Express Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>).
Buffett added that &#8220;in the next 50 years, we won't give a thought to selling those [Japanese trading houses] positions,&#8221; underscoring not only his own long-term conviction but also that of Berkshire Vice Chairman, and his newly appointed successor, Greg Abel.
Abel followed up by saying, &#8220;It's been a very good investment, but we really envision holding the investment for 50 years or forever,&#8221; adding that he hopes to &#8220;do big things with them globally.&#8221;
Why It Matters: Early last month, Berkshire was preparing another round of yen-denominated bond issuance, reportedly aimed at <a href="https://www.benzinga.com/news/global/25/04/44601574/warren-doubles-down-on-japan-another-yen-bond-blitz-amid-growing-us-market-volatility">refinancing maturing debt</a> and increasing its stakes in its Japanese plays.
Former Vice Chairman Charlie Munger had described the investment as a &#8220;no-brainer,&#8221; pointing to Japan's <a href="https://benzinga.com/25/02/43441032/charlie-munger-praised-buffetts-20b-no-brainer-investment-in-japan-like-having-god-just-opening-a-chest-and-pouring-money-into-it">ultra-low borrowing rates</a>, around 0.50%, and the attractive dividend yields of over 5% offered by the trading houses. 
The company reported its first-quarter results on Saturday, with operating earnings falling 14% year-over-year to $9.6 billion. The decline was primarily due to a <a href="https://www.benzinga.com/news/earnings/25/05/45183890/berkshire-hathaways-q1-2025-earnings-plunge-amid-tariff-concerns-operating-profit-fell-14-cash-hit-a-record">$1.1 billion hit</a> to underwriting profits from wildfires in Southern California during the quarter.
Price Action: Berkshire shares were up 1.80% on Friday, and are up 0.35% after hours following the company&#8217;s first quarter results, according to data from <a href="http://pro.benzinga.com">Benzinga Pro. </a>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/25/05/45187070/warren-buffett-retires-after-decades-of-dominancefrom-tim-cook-to-mark-cuban-worlds-top-business-leaders-react-to-the-investment-icons-exit">&#8216;Curtain Call For The Captain:&#8217; Tim Cook, Bill Gates, Mark Cuban And Other Top Business Leaders React As Warren Buffett Bows Out</a></li>
</ul>
Image Via Shutterstock

ITOCY

MARUY

MITSY

MSBHF

SMFG

Warren Buffett And His Successor Greg Abel Say Berkshire Hathaway Could Hold This $20B Bet For '50 Years Or Forever'

Leading cryptocurrencies dipped on Sunday ahead of the Federal Reserve's monetary policy meeting.
What Happened: Bitcoin experienced sell-offs throughout the evening after peaking at $96,000 in the early morning hours.
Ethereum also slipped below $1,800 overnight, with trading volume rising by more than 6% in the last 24 hours.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-2.12%</td>
<td>$93,908.78</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>-2.46%</td>
<td>$1,797.63</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>-3.68%</td>
<td>$0.1696</td>
</tr>
</tbody>
</table>
</figure>
The apex cryptocurrency's market dominance rose to a yearly high of 63.9% on Sunday, while Ethereum's share was 7.4%.
The pullback eroded over $180 million worth of long positions from the market in the last 24 hours. Additionally, Bitcoin&#8217;s Open Interest fell over 3% in the last 24 hours to $62.19 billion.&nbsp;
Over 50% of Binance traders with open BTC positions were positioned short on Bitcoin as of this writing, per the Long/Short Ratio.
The market sentiment turned "Neutral,", 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 9:30 p.m. ET)</td>
</tr>
<tr>
<td>Flare (FLR)</td>
<td>+7.93%</td>
<td>$0.0204</td>
</tr>
<tr>
<td>Core (CORE)</td>
<td>+6.49%</td>
<td>$0.7281</td>
</tr>
<tr>
<td>Solayer (LAYER)</td>
<td>+5.14%</td>
<td>$3.21</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization dropped 1.58% to $2.94 trillion in the last 24 hours.
Stock futures inched lower Sunday night. The Dow Jones Industrial Average Futures slid 249 points, or 0.61%, as of 9:31 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 dipped 0.64%, while Nasdaq 100 Futures lost 0.64%.
Equities have rebounded sharply over the last two weeks, with the S&amp;P 500 recouping all losses since President Donald Trump<a href="https://www.benzinga.com/markets/options/25/04/44636496/why-tsem-stock-bounce-back-liberation-day-panic"> imposed sweeping tariffs</a> on trade partners on "Liberation Day."
This week, the market will look forward to the Fed's policy meeting, which begins on Tuesday. Traders have priced in a roughly 97% chance that interest rates will remain at their current 4.25%-4.50% range, <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">according </a>to the CME FedWatch tool data.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Cryptocurrency analyst and trader Ali Martinez warned about a potential Bitcoin pullback, citing a "sell signal" by the TD Sequential indicator.
"If Bitcoin were to lose the $94,765 support level, a price correction to $90,000 or even $86,000 could follow," Martinez projected.
Typically, parabolic slope patterns are characterized by a steep, rapid, and exponential rise in price, followed by a sharp decline.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> flashes a sell signal! <a href="https://t.co/97hj7iObdQ">pic.twitter.com/97hj7iObdQ</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1919127139301114179?ref_src=twsrc%5Etfw">May 4, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Cryptocurrency analyst Michaël van de Poppe noted that Ethereum's valuation has dropped to its lowest since August 2022, the COVID bottom in March 2020 and January 19.
"Forward-looking 12 months after those dates prices were substantially higher. Happy to accumulate ETH," Van de Poppe stated.
<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">The valuation of <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> is on its lowest point since: &#8211; August &#39;22 &#8211; COVID Bottom March &#39;20 &#8211; January &#39;19 All marked the bottom. Forward-looking 12 months after those dates prices were substantially higher. Happy to accumulate <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>. <a href="https://t.co/yzlP9EzSI2">pic.twitter.com/yzlP9EzSI2</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1919121602874122726?ref_src=twsrc%5Etfw">May 4, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45186028/arthur-hayes-foresees-bitcoins-leap-to-1-million-says-bitcoin-does-best-when-money-is-printed">Arthur Hayes Foresees Bitcoin&#8217;s Leap To $1 Million, Says Bitcoin Does Best When Money Is Printed</a></li>
</ul>
Image Via Shutterstock

Movers

Trading Ideas

$BTC

$DOGE

$ETH

Bitcoin, Ethereum, Dogecoin Slide As Traders Turn Cautious Before Fed Meeting: Analyst Foresees BTC 'Correction' To $86,000

On Saturday, the ‘Oracle of Omaha's <a href="https://www.benzinga.com/25/05/45184410/warren-buffett-to-step-down-as-berkshire-hathaway-ceo-by-end-of-year-asks-board-to-confirm-greg-abel-as-successor">departure as</a> Berkshire Hathaway's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) CEO has triggered an outpouring of admiration from Silicon Valley to Wall Street.
What Happened: Warren Buffett, 94, announced that he plans to step down as CEO of Berkshire Hathaway by the end of the year, bringing to a close one of the most celebrated careers in corporate America.
The announcement came during Berkshire's annual shareholders meeting in Omaha, Nebraska.
"I think the time has arrived where Greg should become the chief executive of the company at year end," Buffett said, referring to Greg Abel, <a href="https://www.benzinga.com/markets/25/05/45183000/warren-buffetts-right-hand-man-greg-abel-is-quietly-taking-over-day-to-day-leadership-at-berkshire-hathaway-gotten-much-more-involved-in-capital-allocation-decisions">Berkshire's vice chairman</a>, who will take the reins.
Also Read:&nbsp;<a href="https://www.benzinga.com/25/02/43900955/berkshire-hathaways-q4-profits-soar-71-warren-buffett-says-his-firm-has-paid-more-taxes-than-tech-titans-in-trillions" target="_blank" rel="noreferrer noopener">Berkshire Hathaway Q4 Profits Soar 71%, Buffett Says Firm Pays More Taxes Than ‘Tech Titans&#8217; With Market Value in ‘Trillions&#8217;</a>
His statement was met with a prolonged standing ovation, reportedly lasting up to 10 minutes, from a crowd of thousands who gathered to honor his decades of leadership.
Business leaders and public figures across industries were quick to pay tribute.
"There's never been someone like Warren, and countless people, myself included, have been inspired by his wisdom," Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) CEO Tim Cook wrote on X, formerly Twitter. "It's been one of the great privileges of my life to know him. And there's no question that Warren is leaving Berkshire in great hands with Greg."
<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">There's never been someone like Warren, and countless people, myself included, have been inspired by his wisdom. It's been one of the great privileges of my life to know him. And there's no question that Warren is leaving Berkshire in great hands with Greg. <a href="https://t.co/7p5zXtq5hP">pic.twitter.com/7p5zXtq5hP</a>
&mdash; Tim Cook (@tim_cook) <a href="https://twitter.com/tim_cook/status/1918745258818482382?ref_src=twsrc%5Etfw">May 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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.
CNBC's Mad Money host Jim Cramer praised Buffett as "our only G.O.A.T." and said he was "in awe" of the legendary investor.
<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">In awe of Buffett and congratulate him on the greatest run of all time. Our only G.O.A.T.
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1918752821622514086?ref_src=twsrc%5Etfw">May 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
In a <a href="https://www.businessinsider.com/warren-buffett-steps-down-berkshire-hathaway-business-leaders-react-2025-5">statement</a> to Business Insider, Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) co-founder Bill Gates called him "one of the greatest CEOs ever" and "hands-down the most successful investor of all time."
Billionaire and Dallas Mavericks owner Mark Cuban shared a more personal memory. "We used to go to DQ in Omaha," he said in an email to BI. "It was the highlight of my year." He also shared a video of Buffett's ovation on X.
Spencer Hakimian, founder of Tolou Capital Management, shared a similar video on X and wrote, "Curtain call for the captain."
<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">Warren Buffett just got a 10 minute long standing ovation after announcing his retirement. Curtain call for the captain. &#x1f979; <a href="https://t.co/RRk4CpgFZh">pic.twitter.com/RRk4CpgFZh</a>
&mdash; Spencer Hakimian (@SpencerHakimian) <a href="https://twitter.com/SpencerHakimian/status/1918729831144894824?ref_src=twsrc%5Etfw">May 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO Jamie Dimon added to the chorus of praise, saying, "Warren Buffett represents everything that is good about American capitalism and America itself — investing in the growth of our nation and its businesses with integrity, optimism, and common sense. I&#8217;ve learned so much from him to this very day, and I am honored to call him a friend," reported Reuters.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/25/02/43901149/buffett-reflects-on-60-years-at-berkshire-helm-cardinal-sin-is-delaying-the-correction-of-mistakes" target="_blank" rel="noreferrer noopener">Buffett Reflects on 60 Years at Berkshire Helm: ‘Cardinal Sin Is Delaying the Correction of Mistakes&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image Credit: Prachaya Roekdeethaweesab / Shutterstock.com

MSFT

'Curtain Call For The Captain:' Tim Cook, Bill Gates, Mark Cuban And Other Top Business Leaders React As Warren Buffett Bows Out

Memecoins parodying xAI's Grok chatbot surged Sunday after founder Elon Musk changed his X profile picture to the satirical avatar.
What happened: In an X post, Musk tagged Grok's parody account Gork, saying, "sup @gork changed my pp to urs wdyt."
Musk changed his profile name to "gorklon rust" and began using a jazzed-up version of Gork&#8217;s profile photo with a colorful sunglass as an accessory.
Gork responded to the change, saying &#8220;Looks good i guess, but did u have to copy my whole face like that smh.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">sup <a href="https://twitter.com/gork?ref_src=twsrc%5Etfw">@gork</a> changed my pp to urs wdyt
&mdash; gorklon rust (@elonmusk) <a href="https://twitter.com/elonmusk/status/1919087089276142005?ref_src=twsrc%5Etfw">May 4, 2025</a></blockquote>
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Musk's new avatar ignited a sharp rally in meme cryptocurrencies themed around Gork.&nbsp;
Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based New XAI gork (Gork) jumped 76% within ten minutes of the X post, <a href="https://coinmarketcap.com/currencies/new-xai-gork/">according </a>to CoinMarketCap. The coin's market capitalization rose to $75.35 million as of this writing.
Another meme coin, gork AI Agent (GORK), skyrocketed 281% in the last 24 hours.
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/25/05/45125478/nayib-bukele-led-el-salvador-will-continue-to-buy-bitcoin-says-minister-on-imf-requirement">El Salvador Committed To Buy Bitcoin Despite IMF Requirement, Says Minister— &#8216;Important Project&#8217; Started By Nayib Bukele</a>
Why It Matters: Grok is a conversational artificial intelligence assistant developed by Musk&#8217;s xAI that provides human-like answers to queries. It can access real-time knowledge through the web and the X social media platform.
Gork is the parody account of Grok, known for its wit and sense of humor.
This is not the first time Musk changing his X avatar has spurred a rally in cryptocurrencies. Last year, the tech titan <a href="https://www.benzinga.com/24/12/42739155/elon-musk-changes-his-name-to-kekius-maximus-on-x-sending-to-memecoin-skyrocketing-over-600">changed his profile name to &#8220;Kekius Maximus</a>,&#8221; sending the memecoin of the same name soaring more than 600% over the next few hours.
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. 
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Photo Courtesy: bella1105 on Shutterstock.com

$BNB

'Gorklon Rust'? Elon Musk Trolls With Grok Parody, Sends Memecoins Soaring: 'Did U Have To Copy My Whole Face?'

Dave Ramsey might be <a href="https://www.benzinga.com/personal-finance/25/04/44589696/dave-ramsey-slams-young-adults-youre-broke-because-youre-stupid">known for calling people "stupid"</a> on his show when they make bad money decisions, but behind the scenes, it seems he's anything but heartless.&nbsp;
In an <a href="https://www.youtube.com/watch?v=o-4AxJAIMqQ">October interview with Tucker Carlson</a>, the personal finance guru got visibly emotional after Carlson shared what people were saying about him: "No one treats his employees better than Dave Ramsey."
Carlson recalled, "I was having dinner with someone the other night, and your name came up. This person just said, ‘The thing about Dave Ramsey is no one I have ever seen treats his employees better than he does.'" Carlson said he'd heard the same thing from multiple people and "reported it out" just to verify it was true.
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Ramsey didn't just confirm it—he proved it.
"We had one team member that had cancer," Ramsey told Carlson. "They didn't work for two years, and they got paid the entire two years. And now they're back on our team. She made it. She's wonderful. Everybody loves her."
For Ramsey, it wasn't even a question. "There's no way we weren't going to take care of her. She'd been with us 15 years, and she's like a sister," he said.
The financial radio host explained that his company's HR manual isn't packed with legal jargon—it's built on a simple biblical principle: "Treat other people like you'd want to be treated." If an employee is in crisis, Ramsey believes it's his responsibility to step up, especially now that he has the means.
"In the early days, we didn't have money to do stuff like that," he admitted. "But if we have the money, and we can take care of somebody that needs to be taken care of, we simply do it. Because it's what I'd want somebody to do for my kid or for me if I was in trouble."
Trending: 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>
It's an approach that has built more than just goodwill. Ramsey said that kind of loyalty creates a workplace where people stick around—and take care of each other. Some employees mow lawns or cook meals for sick coworkers. Others help new hires move. "Who does that? We do," Ramsey said.
But he was clear: loyalty is a two-way street. "If you're <a href="https://www.benzinga.com/personal-finance/25/04/45056965/dave-ramsey-says-doctors-and-lawyers-are-like-actors-notoriously-bad-with-money-just-because-you-make-a-lot-doesnt-mean-youre-winning">disloyal to leadership</a>, I will fire your butt," he said bluntly. "I'm not going to give you money to run me."
At the end of the day, Ramsey said he doesn't want to look back on his life with regrets about the people he could have helped. "How selfish would it be not to do that?"
For all his <a href="https://www.benzinga.com/personal-finance/25/04/44954582/dave-ramsey-tells-an-18-year-old-with-a-6-figure-debt-to-take-a-year-off-college-to-make-money-your-situation-sucks-beyond-belief">tough talk on the air</a>, Ramsey's built a company culture that's heavy on accountability—but even heavier on compassion.
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Image: Shutterstock

Personal Finance

Dave Ramsey Paid An Employee With Cancer Her Full Salary For 2 Years While Unable To Work — But Says If You're Disloyal, 'I Will Fire Your Butt'

Robert Kiyosaki recently expressed concerns over job security in the face of increasing tariffs and the rise of <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">artificial intelligence (AI).</a>
What Happened: On Saturday, Kiyosaki, the author of the best-selling book &#8220;Rich Dad Poor Dad,&#8221; questioned the safety of jobs in a world where AI is rapidly advancing and tariffs are being raised. 
He applauded President Donald Trump&#8216;s efforts to bring back American manufacturing jobs through tariff hikes, but also highlighted the threat posed by AI to professional jobs.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">HOW SAFE IS YOUR JOB? President Trump is raising tariffs to bring back American manufacturing jobs. I applaud his courage. BUT WHAT ABOUT Artificial Intelligence? For over 25-years I have been saying the worst financial advice Is: "Go to school. Get a job. Work hard. Pay…
&mdash; Robert Kiyosaki (@theRealKiyosaki) <a href="https://twitter.com/theRealKiyosaki/status/1918803600735871379?ref_src=twsrc%5Etfw">May 3, 2025</a></blockquote>
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Kiyosaki urged his followers to increase their financial education and adapt to the changing world. &#8220;Please take care. The world is changing. Please change with it. Tariffs won&#8217;t protect you. Tariffs only increase inflation… as jobs are lost…and wages come down. Please increase your financial education and get richer…as the world changes. I know you can do it,&#8221; he wrote.
Also Read: <a href="https://www.benzinga.com/news/25/04/44886845/robert-kiyosaki-says-millions-could-be-out-of-work-heres-his-game-plan">Robert Kiyosaki Says Millions Could Be Out of Work — Here&#8217;s His Game Plan</a>
Kiyosaki criticized the traditional financial advice of going to school, getting a job, working hard, paying taxes, saving money, getting out of debt, and investing for the long term in the stock market. 
He argued that this advice did not protect millions of factory workers when their jobs were exported to China after its admission into the World Trade Organization in 2001.
Why It Matters: Kiyosaki&#8217;s concerns reflect a growing debate about the impact of AI on jobs. 
While AI has the potential to increase productivity and create new jobs, it also threatens to automate many existing jobs, including those of highly educated professionals like doctors, lawyers, and engineers.
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Robert Kiyosaki's Stern Warning: 'Tariffs Won't Protect You, Tariffs Only Increase Inflation As Jobs Are Lost And Wages Come Down'

Famed investor Peter Lynch cautioned against the practice of market timing, underscoring the significance of retaining shares of robust companies <a href="https://www.benzinga.com/markets/25/01/42935107/peter-lynchs-money-making-advice-when-things-go-from-terrible-to-semi-terrible-to-ok-you-can-make-a-lot-of-money">amidst market turbulence</a>.
What Happened: Lynch has consistently endorsed a disciplined, long-term investment strategy. He asserts that attempts to foresee market downturns often result in greater financial damage than the downturns themselves.
Lynch&#8217;s investment philosophy echoes that of Warren Buffett, promoting patient investment in high-growth companies over trying to forecast market volatility. He alerts novice investors about the potential hazards of bracing for market corrections, which could lead to missing profitable opportunities during a bull market.
&#8220;Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves,&#8221; Lynch was quoted as saying.
Also Read: <a href="https://www.benzinga.com/markets/25/04/44676870/peter-lynchs-advice-if-you-cant-explain-to-an-11-year-old-in-two-minutes-or-less-why-you-own-the-sto">Peter Lynch&#8217;s Advice: &#8216;If You Can&#8217;t Explain to an 11-Year-Old in Two Minutes or Less Why You Own the Stock, You Shouldn&#8217;t Own It&#8217;</a>
While some investors might be inclined to sell shares or postpone their regular equity purchases in expectation of a market correction, Lynch advises against such impulsive actions. He stresses the importance of adhering to a consistent investment strategy, irrespective of market prognostications.
Why It Matters: Lynch&#8217;s advice comes at a crucial time when investors are grappling with market uncertainty. His words serve as a reminder that long-term, disciplined investing often yields better results than trying to predict market movements. 
His philosophy, which aligns with that of other investment stalwarts like Warren Buffett, underscores the importance of patience and consistency in investment strategy. 
As new investors navigate the complexities of the market, Lynch&#8217;s advice against market timing could serve as a guiding principle.
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Success Stories

Peter Lynch's Market Observation: 'Far More Money Has Been Lost By Investors Preparing For Corrections, Than Has Been Lost In Corrections Themselves'

Philanthropist Melinda French Gates has expressed her apprehensions regarding the cuts made by Elon Musk and the Department of Government Efficiency (DOGE) during President Donald Trump&#8216;s tenure.
What Happened: Gates, a lifelong philanthropist, underscored the significance of government funding in expanding philanthropic efforts on Sunday. She drew attention to the crucial role played by her foundation and the Giving Pledge, co-founded with her former spouse&nbsp;Bill Gates&nbsp;and&nbsp;Warren Buffett, in motivating billionaires to donate half of their wealth.
According to the report <a href="https://www.thestreet.com/politics/melinda-french-gates-takes-a-big-shot-at-elon-musks-doge-cuts">by</a> Street, Gates expressed her concern over the cuts to programs like USAID, stating that they could have devastating impacts on families worldwide. She underscored the fact that philanthropy alone cannot meet the needs of global health initiatives, and government funding is crucial to scale up these efforts.
Despite her usual avoidance of politics, Gates&#8217; comments on the DOGE cuts made by Musk, who heads the semi-official government agency, were clear. She stressed that the cuts could result in millions of women losing&nbsp;access to maternal health services&nbsp;and a significant increase in malaria cases.
Also Read: <a href="https://www.benzinga.com/news/22/10/29194457/melinda-gates-on-divorce-with-bill-gates-unbelievably-painful-i-just-couldnt-stay-in-that-marriage-2">Melinda Gates On Divorce With Bill Gates: &#8216;I Just Couldn&#8217;t Stay In That Marriage&#8217;</a>
Gates&nbsp;believes that while philanthropists can&nbsp;take risks that governments can&#8217;t, collaboration between the two is essential for effecting change on a large scale.
Why It Matters: Gates&#8217; criticism of Musk&#8217;s DOGE cuts comes at a time when the role of philanthropy and government in addressing global issues is under scrutiny. The cuts to government programs like USAID, as highlighted by Gates, could have far-reaching impacts on global health initiatives. Her comments underscore the importance of a collaborative approach between philanthropy and government in addressing these challenges.
Furthermore, Gates&#8217; emphasis on the role of her foundation and the Giving Pledge in encouraging billionaires to donate half of their wealth underscores the potential of philanthropy in addressing global challenges. However, as Gates points out, philanthropy alone cannot meet these needs, and government funding is crucial.
Her comments serve as a reminder of the importance of collaboration between philanthropy and government in effecting large-scale change, and the potential consequences of cuts to government funding for global health initiatives.
Read Next
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Melinda French Gates Takes Aim at Elon Musk's DOGE Cuts, Highlights Importance of Philanthropy and Government

<h2 class="wp-block-heading">SEC Charges 3 Texans With Running $91 Million Ponzi Scheme</h2>
The Securities and Exchange Commission on Tuesday charged Texas residents Kenneth W. Alexander II, Robert D. Welsh and Caedrynn E. Conner with running a Ponzi scheme that raised at least $91 million from<a href="https://www.benzinga.com/news/legal/25/04/45029644/financial-crime-weekly-man-charged-with-operating-198-million-crypto-ponzi-scheme"> over 200 investors.</a>
According to the SEC, from May 2021 to February 2024, Alexander and Welsh <a href="https://www.sec.gov/newsroom/press-releases/2025-71">operated the scheme</a> through Vanguard Holdings Group Irrevocable Trust, which they claimed was a lucrative international bond trading business.&nbsp;
Investors were promised 12 monthly payments of 3% to 6%, with their principal returned after 14 months. In reality, VHG had no meaningful revenue, and the returns paid to investors came from new investor funds, not trading profits.
Read Next: <a href="https://www.benzinga.com/news/management/25/05/45180224/these-ev-makers-could-shine-if-musk-leaves-tesla?utm_source=articleShare">These EV Makers Could Shine If Musk Leaves Tesla&nbsp;</a>
Conner, through his own entity Benchmark Capital Holdings Irrevocable Trust, funneled more than $46 million into VHG via a similar program. The three also offered a supposed "pay order" financial instrument to protect investments, but the SEC alleges this protection was fictitious.
The SEC's complaint further states that Alexander and Conner misappropriated millions for personal use, including Conner's purchase of a $5 million home. The SEC is seeking permanent injunctions, repayment of ill-gotten gains with interest and civil penalties against all three defendants.&nbsp;
"As we allege, the defendants conducted a large-scale Ponzi scheme that caused devastating losses to investor victims, while Alexander and Conner misappropriated millions of dollars of investor funds," said Sam Waldon, Acting Director of the SEC's Division of Enforcement. "We remain unwavering in our commitment to hold individuals accountable for defrauding investors."
<h2 class="wp-block-heading">Raytheon, RTX Agree To Pay $8.4 Million To Settle Allegations</h2>
Raytheon Co., its parent RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) and Nightwing Group have agreed to pay $8.4 million to settle allegations that Raytheon violated the False Claims Act by not meeting cybersecurity requirements in contracts and subcontracts with the Department of Defense.&nbsp;
Raytheon sold its Cybersecurity, Intelligence and Services business to Nightwing in March 2024. The settlement addresses alleged conduct from 2015 to 2021, before Nightwing acquired the business.
The U.S. Department of Justice alleged that Raytheon and its former subsidiary, Raytheon Cyber Solutions, Inc., failed to implement required cybersecurity controls and did not develop or maintain a system security plan for an internal development system used for unclassified work on 29 DoD contracts.&nbsp;
The actions allegedly violated the Defense Federal Acquisition Regulation Supplement and Federal Acquisition Regulation rules which require contractors to safeguard federal contracts and covered defense information. The case was resolved under the False Claims Act, with a portion of the settlement awarded to the whistleblower who brought the case to the government's attention.
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Photo: Shutterstock

Legal

Financial Crime Weekly: SEC Charges 3 Texans With Running $91 Million Ponzi Scheme & Raytheon, RTX Agree To Pay $8.4 Million To Settle Allegations

Elon Musk, the CEO of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), has been accused by Chechen leader Ramzan Kadyrov <a href="https://www.benzinga.com/news/24/08/40432032/putin-ally-unveils-tesla-cybertruck-with-machine-gun-invites-musk-to-russia">of remotely disabling his Cybertruck.</a>
What Happened: Kadyrov, who has been in power in&nbsp;Chechnya since 2007, alleged that&nbsp;his Cybertruck was &#8220;remotely disabled&#8221;&nbsp;by Musk. 
The Chechen leader&nbsp;voiced his discontent in a Telegram <a href="https://t.me/RKadyrov_95/5103">post</a>, where he described Musk&#8217;s actions as unmanly.
"Elon Musk behaved badly. He gives expensive gifts from the heart, and then turns them off remotely," Kadyrov wrote in the post. 
Then he added in the post saying, "That's not manly. How could you do that, Elon?" He also mentioned that he had to tow the vehicle after Tesla shut it down.&#8221;
In the past, Kadyrov had posted a video that displayed&nbsp;the Cybertruck, fitted with what&nbsp;appeared to be a machine&nbsp;gun. He hinted that the&nbsp;vehicle, which he claimed&nbsp;was a gift from Musk.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/02/37195508/putin-pal-elon-musk-fires-back-at-critics-accusing-him-of-supporting-russia" target="_blank" rel="noreferrer noopener">Putin Pal? Elon Musk Fires Back At Critics Accusing Him Of Supporting Russia</a>
"We received a Tesla Cybertruck from the esteemed Elon Musk. I was pleased to test this new technology and personally witnessed why it&#8217;s rightfully called the ‘Cyberbeast," he said in a statement.
However, Musk has firmly denied ever gifting&nbsp;the Cybertruck to Kadyrov. The&nbsp;process by&nbsp;which the warlord procured the&nbsp;vehicle is still a mystery, considering the&nbsp;direct export of a Cybertruck&nbsp;from the US to Chechnya&nbsp;is forbidden due to US sanctions.
Why It Matters: Kadyrov&#8217;s accusations against Musk are significant due to the involvement of a high-profile individual and a globally renowned brand. This incident brings to light&nbsp;questions about the security and&nbsp;remote control features of Tesla&#8217;s vehicles. 
Furthermore, it highlights&nbsp;the potential misuse of such&nbsp;vehicles in regions of conflict, which could have serious consequences for international security and Tesla&#8217;s reputation.
Read Next
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TSLA

Putin Ally Who Unveiled Tesla Cybertruck With Machine Gun Now Says Elon Musk 'Remotely Disabled' The Militarized EV

In an exclusive interview with NBC News, President Donald Trump said that he expects his presidency to end after the 2028 election.
What Happened: Trump confirmed he would not pursue a third term, acknowledging the constitutional limitations. He also identified potential successors within the Republican Party, including Vice President JD Vance and Secretary of State Marco Rubio.
Despite previous hints at considering a third run, Trump now acknowledges the legal barriers that prevent such a move. 
&#8220;It&#8217;s&nbsp;something that, to the best&nbsp;of my knowledge, you&#8217;re&nbsp;not allowed to do. I&nbsp;don&#8217;t know if that&#8217;s constitutional that they&#8217;re&nbsp;not allowing you to do&nbsp;it or anything else,&#8221; Trump <a href="https://www.nbcnews.com/politics/2028-election/-eight-year-president-trump-weighs-third-term-speculation-rcna204579">said</a> during the interview.
Addressing the recent speculation sparked by the sale of Trump 2028-branded red hats by the Trump Organization, Trump clarified his intention is to&nbsp;pass the torch ahead of&nbsp;the next presidential election. 
Also Read: <a href="https://www.benzinga.com/news/25/05/45184463/donald-trumps-support-tanks-early-in-second-term-poll-numbers-paint-grim-picture">Donald Trump&#8217;s Support Tanks Early in Second Term — Poll Numbers Paint Grim Picture</a>
&#8220;There&nbsp;are many people selling the&nbsp;2028 hat,&#8221; Trump noted. &#8220;But this is not something I&#8217;m looking to do. I&#8217;m&nbsp;looking to have four great&nbsp;years and turn it over&nbsp;to somebody, ideally a great&nbsp;Republican, a great Republican to&nbsp;carry it forward.&#8221;
Trump commended both Vance and Rubio but held back from endorsing any potential successor. He stressed that such discussions are &#8220;far too early.&#8221;
Why It Matters:&nbsp;Trump&#8217;s confirmation of not seeking a third term brings clarity to the political landscape and sets the stage for potential successors within the Republican Party. 
His mention of JD Vance and Marco Rubio as potential successors indicates a shift in focus towards grooming the next generation of Republican leadership. 
The sale of Trump 2028-branded merchandise had fueled speculation about his future political ambitions, but his latest comments suggest a commitment to abide by constitutional norms. 
This development could impact the strategies of other potential Republican candidates as they prepare for the next presidential election.
Read Next
<a href="https://www.benzinga.com/news/25/04/45027947/trumps-second-term-viewed-as-chaotic-and-scary-by-majority-of-voters" target="_blank" rel="noreferrer noopener">Trump's Second Term Viewed as ‘Chaotic' and ‘Scary' by Majority of Voters</a>

Topics

Donald Trump Weighs In on Third-Term Speculation: 'I Don't Know If It's Constitutional'

Arthur Hayes, the founder of BitMEX, anticipates that Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) could potentially reach a value of $1 million by 2028. 
What Happened: Hayes holds the belief that Bitcoin could reach a seven-figure price in the upcoming years. During an interview, Hayes projected that Bitcoin could hit a price of $1 million by the end of 2028.
He said this surge is expected due to the easing of US monetary policy and the growing acceptance of Bitcoin as a safe-haven asset.
During the <a href="https://www.youtube.com/watch?v=7GpQPiF-RBg">interaction</a>, Hayes attributes the potential surge in Bitcoin&#8217;s price to the expected easing of US monetary policy. He stated, &#8220;we know you&#8217;re going to print more money, we know that Bitcoin does best when money is printed.&#8221;
Hayes also highlighted the US budget deficit, which he anticipates will continue to rise even after the change of administration, as a bullish catalyst for Bitcoin&#8217;s potential rise to a price of $1 million. 
"We know you're going to print more money, we know that Bitcoin does best when money is printed. I don't know, I can't tell you what stock is going to do well, that's hard. But I can tell you where Bitcoin's going to go," Hayes said during the interview. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44889273/robert-kiyosakis-bitcoin-forecast-could-1-million-be-realistic">Robert Kiyosaki&#8217;s Bitcoin Forecast: Could $1 Million Be Realistic?</a>
&#8220;So the things that drive the budget are only going up and interest on the Treasury debt again is expanding exponentially because even if Trump is successful on his plan, which is 3% deficit by 2028, because of where you started with, the size of the debt, your interest costs are still expanding exponentially,&#8221; he said. 
&#8220;So again there's just no way mathematically, unless they decide we're going to shut down the government which is not what he's talking about that they're going to be able to spend less than Biden," he added. 
The BitMEX founder also mentioned the increasing acceptance of Bitcoin as a safe-haven asset as another factor that will positively impact the flagship crypto asset. 
He stated, &#8220;We now have an ETF, we now have this narrative in an institutional investor's mind that, ‘Oh, Bitcoin is not just NASDAQ, high beta. It's actually a hedge against the fall of American exceptionalism, the fall of the American hegemonic empire, maybe I should own some of this. This is going to do well.'"
Why It Matters: Hayes&#8217; prediction comes at a time when Bitcoin&#8217;s acceptance is growing globally. The potential easing of US monetary policy, coupled with the increasing adoption of Bitcoin as a safe-haven asset, could indeed provide the necessary impetus for Bitcoin&#8217;s price to reach the $1 million mark. 
The continued increase in the US budget deficit could also serve as a catalyst for this surge. However, only time will tell if these factors will indeed propel Bitcoin to the projected seven-figure price.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44889289/this-crypto-analyst-predicts-bitcoin-could-soar-137-under-perfect-market-conditions">This Crypto Analyst Predicts Bitcoin Could Soar 137% Under Perfect Market Conditions</a>

Arthur Hayes Foresees Bitcoin's Leap To $1 Million, Says Bitcoin Does Best When Money Is Printed

Shibarium, the Layer-2 blockchain of Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>), has reported a significant 54% increase in transactions. This surge indicates a growing interest and engagement in the network.
What Happened:&nbsp;The daily transactions on Shibarium rose&nbsp;from 2.01 million to 3.1&nbsp;million within a span of 24 hours. Simultaneously, the total addresses on Shibarium hit a new peak of 204,182,966, indicating a rise in user participation.
Shibarium&#8217;s other metrics also demonstrated growth. According to reports, the network has executed over 1.13 billion transactions in total, with the recent spike in daily transactions contributing to this increase. The total blocks on the network have exceeded&nbsp;10 million, with the most&nbsp;recent count at 10,791,495.
Along with the surge in transactions, the SHIB token burn rate has also skyrocketed by a whopping 22,598%, with 25,770,312 SHIB tokens taken out of circulation in the past 24 hours. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44778101/shiba-inus-burn-rate-skyrockets-580-as-cryptocurrency-market-rebounds">Shiba Inu&#8217;s Burn Rate Skyrockets 580% as Cryptocurrency Market Rebounds</a>
This surge aligns with the 54% transaction increase on Shibarium, underlining the heightened&nbsp;activity in the Shiba Inu&nbsp;ecosystem.
However, despite the heightened activity, the price of Shiba Inu has not witnessed a corresponding increase.&nbsp;At the time of writing,&nbsp;SHIB was down 2.5% in&nbsp;the last 24 hours to&nbsp;$0.00001231 and down 6.8% weekly,&nbsp;mirroring the current profit-taking trend in the crypto market.
Why It Matters:&nbsp;The surge in Shibarium&#8217;s transactions and the increase in SHIB token burn rate are indicative of the growing adoption and user engagement&nbsp;in the Shiba Inu ecosystem.&nbsp;
This growth in activity, however, has not translated into a rise in SHIB&#8217;s price, reflecting the broader profit-taking trend in the cryptocurrency market. 
The developments in Shibarium and the Shiba Inu ecosystem will be closely watched by investors and market participants for potential impacts on SHIB&#8217;s price and the broader crypto market.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44348135/shiba-inus-burn-rate-soars-removing-505-million-tokens-from-circulation" target="_blank" rel="noreferrer noopener">Shiba Inu's Burn Rate Soars, Removing 505 Million Tokens From Circulation</a>
Image: Shutterstock

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Shiba Inu's Shibarium Is Booming — Here's What's Driving the 54% Transaction Surge

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