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Upexi

Upexi Inc specializes in the development, manufacturing, and distribution of consumer products. It reaches consumers through its direct-to-consumer network, wholesale partnerships, and prominent third-party platforms like Amazon.

Upexi Inc

Amid protests and ethical concerns, President Donald Trump hosted a private dinner for the top buyers of his Official Trump (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) memecoin on Thursday.
What happened: Trump landed at his private golf club near Washington, D.C., via helicopter to spend the evening with his VIP guests, including cryptocurrency millionaire and Tron (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/trx/usd">TRX</a>) founder Justin Sun, <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45367052/trump-memecoin-exclusive-dinner-guest-list-revealed-with-justin-sun-shining-at-the-top-rep">the meme coin&#8217;s top holder</a>.
In a series of visuals shared with Benzinga by another invitee, Morten Christensen, founder of AirdropAlert.com, Trump can be seen addressing his guests, with an elegant indoor dining setup, complete with wine glasses, cutlery, and a menu card, in the background.
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="768" height="1024" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23020759/58e6527f-72b1-48d8-87c5-fd01be27d14e-768x1024.jpg" alt="" class="wp-image-925369" style="width:516px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23020759/58e6527f-72b1-48d8-87c5-fd01be27d14e-768x1024.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23020759/58e6527f-72b1-48d8-87c5-fd01be27d14e-225x300.jpg 225w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23020759/58e6527f-72b1-48d8-87c5-fd01be27d14e-1152x1536.jpg 1152w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23020759/58e6527f-72b1-48d8-87c5-fd01be27d14e.jpg 1200w" sizes="(max-width: 768px) 100vw, 768px" /><figcaption class="wp-element-caption">Source: Morten Christensen</figcaption></figure>
The pictures also showed protesters outside the arena holding placards with phrases such as &#8220;Democracy Not Kleptocracy&#8221; and &#8220;Don The Con."
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="768" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23021014/156806f5-b9d8-4853-81ef-2c1d1ac3bb36-1024x768.jpg" alt="" class="wp-image-925373" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23021014/156806f5-b9d8-4853-81ef-2c1d1ac3bb36-1024x768.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23021014/156806f5-b9d8-4853-81ef-2c1d1ac3bb36-300x225.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23021014/156806f5-b9d8-4853-81ef-2c1d1ac3bb36-768x576.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23021014/156806f5-b9d8-4853-81ef-2c1d1ac3bb36-1536x1152.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23021014/156806f5-b9d8-4853-81ef-2c1d1ac3bb36.jpg 1600w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Source: Morten Christensen</figcaption></figure>
While the top 220 holders dined with Trump at the club, the top 25 holders have been promised access to a VIP reception and White House tour, as well as limited-edition commemorative non-fungible tokens.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="768" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23021159/5190824b-79b6-41d6-84c9-876aa7a47433-1024x768.jpg" alt="" class="wp-image-925378" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23021159/5190824b-79b6-41d6-84c9-876aa7a47433-1024x768.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23021159/5190824b-79b6-41d6-84c9-876aa7a47433-300x225.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23021159/5190824b-79b6-41d6-84c9-876aa7a47433-768x576.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23021159/5190824b-79b6-41d6-84c9-876aa7a47433-1536x1152.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23021159/5190824b-79b6-41d6-84c9-876aa7a47433.jpg 1600w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Source: Morten Christensen</figcaption></figure>
Sun said on X that he was awarded a Trump Golden Tourbillon watch by the POTUS.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I was awarded a Trump Golden Tourbillon watch by Trump! <a href="https://t.co/CCYGQ6FMPA">pic.twitter.com/CCYGQ6FMPA</a>
&mdash; H.E. Justin Sun &#x1f34c; (@justinsuntron) <a href="https://twitter.com/justinsuntron/status/1925780215764046285?ref_src=twsrc%5Etfw">May 23, 2025</a></blockquote>
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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/25/05/45556899/from-amazon-to-warren-buffetts-berkshire-hathawaybitcoin-is-now-bigger-than-these-wall-street-titans">From Warren Buffett&#8217;s Berkshire Hathaway To Jeff Bezos&#8217; Amazon — Bitcoin Is Now Outshining These Wall Street Titans</a>
Why It Matters: The controversy surrounding the dinner has been escalating since it was announced last month.&nbsp; <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">Democrats</a> and even <a href="https://www.benzinga.com/markets/25/05/45563302/pro-trump-crypto-enthusiasts-slam-trumps-memecoin-dinner-as-distasteful-and-an-unnecessary-distraction-hes-becoming-a-salesman-in-chief">some pro-Trump crypto enthusiasts</a> have voiced concerns about potential conflicts of interest and the possibility of shadowy buyers gaining access to Trump through such events.&nbsp;
Trump has <a href="https://in.benzinga.com/25/05/45187462/trump-denies-personal-profit-from-memecoin-venture-i-havent-even-looked">refuted claims</a> that he is financially benefiting from the venture.
Christensen <a href="https://www.benzinga.com/25/05/45429393/crypto-enthusiasts-secure-spot-at-trumps-meme-coin-dinner-for-just-1200-report">secured a spot at the exclusive dinner</a> by paying just $1,200. His strategy involved buying the Trump memecoin and shorting the exact same amount, resulting in a market-neutral position. This essentially meant that they just paid trading fees.
Interestingly, Christensen told Benzinga that he did not favor presidents or heads of state getting linked to speculative investments.
"If promoting a stock you own is a legal issue, the same logic should apply to crypto. There's too much potential for conflict of interest," he said.
Price Action:&nbsp; At the time of writing, TRUMP was exchanging hands at $14.25, down 1.16% 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>. 
Feature Photo Courtesy: Morten Christensen
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45557864/jamie-dimon-is-no-fan-of-bitcoin-but-trumps-crypto-czar-made-an-attempt-to-change-the-jpmorgan-ceos-mind-using-this-narrative">Jamie Dimon Is No Fan Of Bitcoin, But Trump&#8217;s Crypto Czar Made An Attempt To Change the JPMorgan CEO&#8217;s Mind Using This Narrative</a></li>
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Markets

$TRUMP

$TRX

Trump Gala Dinner Saw President Wine And Dine Top Memecoin Holders As Protestors Flashed 'Don The Con' Signs — Exclusive

GYRE

Reported Earlier, Gyre Therapeutics Prices $20M Offering Of 2.22M Common Shares At $9/Share To Fund F351 Trial For MASH-Related Liver Fibrosis

<ul>
<li>Daily nonstop seasonal service introduces the airline's award-winning service to seventh transatlantic market from Boston</li>
<li>To celebrate the launch, limited roundtrip fares are available starting at €599 and $699 in Core and €1,999, $2,399 in Mint for Boston–Madrid route, and £499 and $649 in Core and £1,999 and $3,299 in Mint for Boston–Edinburgh</li>
</ul>

JBLU

Reported Earlier, JetBlue Expands European Reach With Daily Seasonal Service From Boston To Spain And Scotland

GRDN

Reported Earlier, Guardian Pharmacy Services Announces Pricing Of $21 Per Share Public Offering For 7.5M Class A Shares

Macro Economic Events

Econ #s

Economics

Germany Gross Domestic Product (QoQ) For Q1 0.4% Vs. 0.2% Est.; -0.2% Prior

Germany Gross Domestic Product (YoY) For Q1 0.0% Vs -0.2% Est.; -0.2% Prior

U.K. Retail Sales (YoY) For April 5.0% Vs. 4.5% Est.; 1.9% (Revised) Prior

U.K. Retail Sales (MoM) For April 1.2% Vs. 0.3% Est.; 0.1% (Revised) Prior

U.K. Core Retail Sales (MoM) For April 1.3% Vs. 0.3% Est.; 0.2% (Revised) Prior

U.K. Core Retail Sales (YoY) For April 5.3% Vs. 4.4% Est.; 2.6% (Revised) Prior

A viral post on X speculates that President Donald Trump might see a strategic upside in a recession.
What Happened: On Thursday, popular newsletter, The Kobeissi Letter, posted on X, drawing parallels between Trump&#8217;s economic agenda and the current state of the markets and the broader macro-environment. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">In a way, President Trump may actually &quot;want&quot; a recession. A recession achieves MOST of Trump&#39;s economic goals at once: 1. Lower US inflation 2. Lower treasury yields 3. Lower trade deficit (through tariffs) 4. Fed interest rate cuts 5. Lower oil prices After the recent surge… <a href="https://t.co/GUptlBM6si">https://t.co/GUptlBM6si</a>
&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1925314582010372564?ref_src=twsrc%5Etfw">May 21, 2025</a></blockquote>
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&#8220;In a way, President Trump may actually want a recession,&#8221; the post says. &#8220;A recession achieves most of Trump&#8217;s economic goals at once,&#8221; referring to his campaign promises of low inflation, treasury yields, a reduction in trade deficits, a rate cut by the Federal Reserve, and lower oil prices.
See Also: <a href="https://www.benzinga.com/25/05/45579959/ray-dalio-warns-investors-to-be-afraid-of-the-bond-market-says-americas-debt-spiral-is-very-serious">Ray Dalio Warns Investors To Be &#8216;Afraid&#8217; Of The Bond Market, Calls America&#8217;s Debt Spiral &#8216;Very Serious&#8217;</a>
The post comes amid soaring U.S. Treasury Yields, with 30-Year yields at 5.04%, the 20-Year at 5.05%, and the 10-Year note at 4.53%. 
On Wednesday, the sale of $16 billion worth of 20-Year Treasury notes saw weak demand, marking a new low for U.S. Government bonds and rattling equity markets this week. 
The SPDR S&amp;P 500 Trust ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) is down 0.85%, followed by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which tracks the Nasdaq, and the SPDR Dow Jones Industrial Average ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>), both down 0.11% and 1.16%, respectively, this week so far.
The post says the Trump team may be recalibrating its messaging strategy after &#8220;realizing the trade deal headlines won't work anymore.&#8221;
&#8220;A recession may be the &#8216;best&#8217; solution after years of inflation and &#8216;free&#8217; money,&#8221; the thread concludes, while quoting a chart showing the S&amp;P 500&#8217;s nearly 80-point decline in a span of 30 minutes, without any &#8220;major&#8221; news.
Why It Matters: Several leading economists, including former Treasury Secretary Larry Summers, <a href="https://www.benzinga.com/markets/25/05/45556622/larry-summers-asks-trump-to-retreat-on-taxes-just-like-he-did-on-tariffs-few-more-days-like-this-and-recession-will-be-likely">have warned Trump</a> to walk back on his proposed tax agenda, like he did with the tariffs, citing pressure on Treasuries.
Early this week, Summers warned that the U.S. was at risk of a <a href="https://benzinga.com/25/05/45484394/gold-hits-3500-as-larry-summers-says-u-s-market-is-on-a-path-to-crisis-like-uks-2022-meltdown?_gl=1&#x2A;9dyw9l&#x2A;_gcl_au&#x2A;OTU0MzA1MzE4LjE3NDcwMTIxNDM.&#x2A;_ga&#x2A;ZGVsZXRlZA..&#x2A;_ga_V7ZK73W7N0&#x2A;czE3NDc5NzczOTMkbzY4JGcxJHQxNzQ3OTc4MjA4JGowJGwwJGgw">fiscal crisis similar</a> to what the U.K. experienced in 2022, calling it Trump&#8217;s &#8220;Liz Truss Moment,&#8221; in reference to the British Prime Minister who had to quit following the crisis.
Economist Mohamed El-Erian had a more balanced take on <a href="https://benzinga.com/25/04/44892570/fairer-trade-or-economic-trainwreck-elerian-breaks-down-the-administrations-two-futures">the administration&#8217;s policies</a>, having said last month that they could either result in fairer global trade, alongside lower tariff and non-tariff barriers, or it could lead to stagflation, which he calls &#8220;Jimmy Carter all over again,&#8221; referring to the 1970s, when Jimmy Carter was President. 
Photo courtesy: Rawpixel.com / Shutterstock.com
Read More:
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<li><a href="https://www.benzinga.com/25/05/45580298/trumps-big-beautiful-bill-strips-key-retirement-benefits-from-federal-workers-in-razor-thin-house-vote">Trump&#8217;s &#8216;Big, Beautiful&#8217; Bill Strips Key Retirement Benefits From Federal Workers In Razor-Thin House Vote</a></li>
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Government

SPDR Dow Jones Industrial Average ETF Trust

Trump May 'Want' A Recession: Market Observer Says It Serves His Economic Agenda—Lower Rates, Oil Prices, And Trade Deficit

Frontline (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRO#NYSE">FRO</a>) reported quarterly earnings of $0.18 per share which missed the analyst consensus estimate of $0.23 by 21.74 percent. This is a 70.97 percent decrease over earnings of $0.62 per share from the same period last year. The company reported quarterly sales of $427.87 million which beat the analyst consensus estimate of $264.19 million by 61.95 percent. This is a 26.03 percent decrease over sales of $578.40 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

Frontline Q1 Adj. EPS $0.18 Misses $0.23 Estimate, Sales $427.87M Beat $264.19M Estimate

<ul>
<li>Updated data from the pivotal Phase III STARGLO study continue to demonstrate a clinically meaningful improvement in overall survival with a 40% survival benefit for people with R/R DLBCL who are not candidates for transplant</li>
<li>89% of patients whose cancer had fully responded at the end of treatment with Columvi in combination with chemotherapy were still alive and 82% showed no signs of cancer one year post-treatment</li>
<li>Timely initiation of effective therapy at relapse or after initial therapy failure is critical for this aggressive, life-threatening disease&nbsp;</li>
<li>Results demonstrate potential of the Columvi combination as a much-needed, off-the-shelf and fixed-duration treatment option&nbsp;</li>
</ul>

RHHBF

RHHBY

Roche's Genentech Highlights Two-Year STARGLO Data: Columvi Plus Chemotherapy Delivers 40% Overall Survival Benefit In Transplant-Ineligible Relapsed Or Refractory DLBCL Patients

<ul>
<li>Long term follow-up data from the TELLOMAK Phase 2 trial in Sézary syndrome (SS) and mycosis fungoides (MF) will be presented at the ASCO Annual Meeting 2025.</li>
<li>Long-term follow-up data from TELLOMAK study confirms the meaningful clinical activity in heavily pretreated SS patients with a global overall response rate (ORR) of 42.9% and an impressive median duration of response of 25.6 months.​</li>
<li>Data also confirms meaningful activity in heavily pretreated MF patients with a global ORR of 19.6% and confirms that the anti-tumor activity is observed in all patients (KIR3DL2 ≥1% or &lt; 1% at baseline).</li>
<li>These compelling data, in a patient population with multiple prior systemic treatments strongly support the development of lacutamab for MF and SS.</li>
</ul>

IPHA

Innate Pharma Highlights Long-Term Clinical Benefit Of Lacutamab In Sézary Syndrome And Mycosis Fungoides At ASCO 2025

Newly installed Social Security Commissioner Frank Bisignano told more than 500 field-office managers this week that he was not &#8220;looking for a job&#8221; and had to "Google&#8221; Social Security before accepting the post offered to him by the Trump administration.
What Happened: According to an audio recording <a href="https://abcnews.go.com/US/new-head-social-security-hired-wall-street-tells/story?id=122075152">obtained</a> by ABC News, "I'm one of the great Googlers on the East Coast," Bisignano joked, adding that his first reaction was, &#8220;What the heck's the commissioner of Social Security?"
Bisignano, 64, spent three decades at Citi, JPMorgan and Fiserv, where he earned a reputation for aggressive cost-cutting and big mergers, including Fiserv's $22 billion takeover of First Data. He arrives at Social Security with no prior government experience, but White House spokesperson Liz Huston says his fintech track record will help "modernize the agency and improve its efficiency."
His outsider status comes at a fraught moment. Elon Musk's Department of Government Efficiency (DOGE) is <a href="https://in.benzinga.com/personal-finance/25/03/44328962/1-9-billion-federal-scam-2-trillion-in-federal-waste-the-latest-findings-from-doge-as-elon-musk-says-money-is-poorly-spent">eyeing</a> all federal benefit programs for savings, fueling workforce anxiety after years of hiring freezes and office closures, reports the Associated Press. On Capitol Hill, a House bill passed Thursday would cut payroll-tax revenues by boosting child-tax credits, a change <a href="https://www.benzinga.com/25/05/45559631/trump-administration-attempts-to-block-release-of-doge-records-in-an-appeal-to-supreme-court">analysts warn</a> could widen Social Security's cash-flow gap.
See also: <a href="https://www.benzinga.com/media/25/05/45580078/apple-could-reportedly-launch-ai-smart-glasses-next-year-and-here-is-what-all-they-are-expected-to-do">Apple Could Reportedly Launch AI Smart Glasses Next Year And Here Is What All They Are Expected To Do</a>
Bisignano told staff the program is "not going away" and said President Trump asked him to repeat that assurance "every day." Still, ethics filings show he <a href="https://www.benzinga.com/news/25/05/45511635/trumps-ssa-head-frank-bisignano-granted-tax-break-as-he-takes-over-struggling-agency-facing-cuts-and-scrutiny">secured a tax deferral</a> on $484 million in Fiserv stock as part of his federal-service transition, raising questions about conflicts of interest while the agency explores private-sector cloud deals.
Why It Matters: In recent Senate testimony, Bisignano vowed not to pursue privatization and instead <a href="https://www.benzinga.com/25/05/45338754/trumps-new-social-security-commissioner-says-hes-fundamentally-a-doge-person-what-that-could-mean-for-your-benefits">flagged three goals</a>: shrinking call-center wait times, deploying AI to detect fraud and reopening shuttered field offices. Union leaders counter that any technology upgrade must be coupled with more front-line hiring to handle 70 million beneficiaries.
For now, the "Great Googler-in-Chief," as Bisignano joked he might be labeled, has launched a nationwide listening tour and ordered a 90-day review of <a href="https://www.benzinga.com/politics/25/03/44482110/musks-doge-vs-ssa-trumps-nominee-frank-bisignano-tackles-social-security-crisis-amid-privatization-debate">modernization projects</a> shelved under DOGE. Whether Wall Street speed can mesh with an 89-year-old program's bureaucracy may decide if Silicon-style disruption becomes Social Security's lifeline — or its latest headache.
Photo Courtesy: Jason Raff on Shutterstock.com
Read next: <a href="https://www.benzinga.com/25/05/45580298/trumps-big-beautiful-bill-strips-key-retirement-benefits-from-federal-workers-in-razor-thin-house-vote">Trump&#8217;s &#8216;Big, Beautiful&#8217; Bill Strips Key Retirement Benefits From Federal Workers In Razor-Thin House Vote</a>

Regulations

Health Care

General

Frank Bisignano Had To Google Social Security When He First Got A Call For The Job: 'What The Heck's The Commissioner…'

In a 215-214 vote, the House of Representatives passed <a href="https://www.benzinga.com/general/health-care/25/05/45345409/trumps-big-beautiful-bill-banks-on-huge-medicaid-cuts-as-its-cost-saving-centerpiece-see-who-risks-losing-coverage-under-the-gop-proposal">President Donald Trump's "big, beautiful" budget reconciliation bill</a>, including major proposed cuts to federal retirement benefits within the Federal Employees Retirement System (FERS).
What Happened: The House's budget package, determined mainly along party lines, <a href="https://www.benzinga.com/news/25/05/45561526/house-gop-retreats-on-retirement-cuts-after-backlash-protections-restored-fers-changes-pushed-to-202">initially included multiple cost-saving reforms impacting federal employees</a>.
These measures were outlined to aid fund tax cuts and increased immigration enforcement. Notably, a proposal to move annuity calculations from a "high-3" to a "high-5" salary average was scratched on account of bipartisan pressure.
However, the bill still seeks to remove the FERS supplement for most federal workers retiring before age 62. As <a href="https://www.govexec.com/pay-benefits/2025/05/house-passes-reconciliation-bill-cuts-federal-employee-retirement-benefits/405523/">per</a> the Government Executive, this benefit is typically worth around a third of post-retirement income.
Other provisions, such as a requirement for new recruits to either contribute nearly 10% of their basic pay toward retirement or work without civil service protections, remain in the bill. A few exemptions were included for law enforcement officers and others, subject to mandatory retirement ages.
See Also: <a href="https://www.benzinga.com/25/05/45566638/what-net-worth-is-enough-to-send-your-kids-to-private-school-without-sacrificing-retirement">What Net Worth Is &#8216;Enough&#8217; To Send Your Kids To Private School Without Sacrificing Retirement?</a>
Why It Matters: If enacted in its current form after moving through the Senate, the bill would dissolve a crucial bridge benefit that supports early retirees until Social Security eligibility, which <a href="https://www.benzinga.com/25/05/45534539/social-security-full-retirement-age-shift-means-filing-at-62-could-chop-your-check-by-30-what-every-worker-born-in-1960-or-later-must-know">rises to 67 in 2025</a>. The FERS supplement elimination is scheduled to begin January 1, 2028, but includes a safeguard for those already eligible by that date.
The American Federation of Government Employees President Everett Kelley labelled the cuts "toxic," and said they could "drive out experienced and dedicated federal workers" while having only a nominal effect on overall spending.
Bill Shackelford of the National Active and Retired Federal Employees Association highlighted that even retirees who accepted early separation packages were likely to be impacted retroactively.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/25/05/45536753/trump-eyes-retirement-overhaul-that-could-push-billions-from-401ks-into-high-stakes-private-equity-funds-report">Trump Eyes Retirement Overhaul That Could Push Billions From 401(k)s Into High-Stakes Private Equity Funds: Report</a></li>
</ul>
Photo courtesy: Shutterstock

Personal Finance

Trump's 'Big, Beautiful' Bill Strips Key Retirement Benefits From Federal Workers In Razor-Thin House Vote

BBJP

Reported Earlier, Japan National Core Consumer Price Index (YoY) For April 3.5% Vs. 3.4% Est.; 3.2% Prior

World (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WLD</a>) blasted to the top of the cryptocurrency gainers list Thursday&nbsp;after raising $135 million to fund network expansion.
What Happened: The token, which is related to a decentralized identity verification project, skyrocketed over 24% in the last 24 hours, reaching levels not seen since early February.
The rally propelled WLD's market capitalization to $2.37 billion, its highest in over five months. The trading volume popped 165% to $1.06 billion in the last 24 hours.
On-chain activity spiked, with large transactions valued at over $100,000 spiking 62%, while daily active addresses rose 10.22%, <a href="https://app.intotheblock.com/">according</a> to IntoTheBlock.
Additionally, WLD's Open Interest exploded over 62% in the last 24 hours, <a href="https://www.coinglass.com/BitcoinOpenInterest">according </a>to Coinglass, indicating high interest from derivatives traders.
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/25/05/45556899/from-amazon-to-warren-buffetts-berkshire-hathawaybitcoin-is-now-bigger-than-these-wall-street-titans">From Warren Buffett&#8217;s Berkshire Hathaway To Jeff Bezos&#8217; Amazon — Bitcoin Is Now Outshining These Wall Street Titans</a>
Why It Matters: The upsurge comes after the Sam Altman-founded project raised $135 million through a private sale of its WLD token. The financing was meant to support World&#8217;s expansion in the U.S. and around the globe.
<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">World Foundation raised $135M from <a href="https://twitter.com/a16z?ref_src=twsrc%5Etfw">@a16z</a> and <a href="https://twitter.com/BainCapCrypto?ref_src=twsrc%5Etfw">@BainCapCrypto</a> to accelerate scaling the real human network. Funding was through a recent direct purchase of liquid, market-priced <a href="https://twitter.com/search?q=%24WLD&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$WLD</a>.
&mdash; World (@worldcoin) <a href="https://twitter.com/worldcoin/status/1925253926929997841?ref_src=twsrc%5Etfw">May 21, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
World is an identity verification project that captures people&#8217;s irises to confirm their humanness and build a digital ID, allowing them to receive free WLD tokens. The project <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45126342/sam-altmans-crypto-project-unveils-ai-spotting-gizmo-brings-world-to-the-us">debuted in the U.S.</a> earlier this month.
It has generated controversy over personal data privacy concerns and stands outlawed in <a href="https://www.benzinga.com/markets/asia/24/05/38981228/sam-altman-founded-worldcoin-shown-the-door-in-hong-kong-over-privacy-concerns">Hong Kong</a>, Kenya, and <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39176283/sam-altman-founded-worldcoins-suspension-extended-in-spain-crypto-plunges-55-since-march-p">Spain</a> as of this writing.
Price Action:&nbsp; At the time of writing, WLD was exchanging hands at $1.54, up 24.89% 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>. Year-to-date, the coin has lost over 25% of its value.
Photo Courtesy: ARTEMENKO VALENTYN on Shutterstock.com
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Sam-Altman Founded World Token Rips 24%—What's Going On?

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) reportedly plans to launch AI-powered smart glasses in late 2026 to compete with Meta Platforms, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) Ray-Bans.
What Happened: Apple has ramped up efforts to begin mass production of prototypes by the end of this year with overseas suppliers, <a href="https://www.bloomberg.com/news/articles/2025-05-22/apple-plans-glasses-for-2026-as-part-of-ai-push-nixes-watch-with-camera">reported</a> Bloomberg, citing people with knowledge of the matter.
The glasses are expected to have cameras, microphones and speakers — these integrations will enable the device to interpret the external environment and respond to voice commands through Siri.
See Also:&nbsp;<a href="https://www.benzinga.com/general/entertainment/25/05/45311978/tim-cooks-apple-tv-cameo-rejected-by-seth-rogen-opts-for-netflixs-ted-sarandos-instead-we-said-no" target="_blank" rel="noreferrer noopener">Tim Cook's Apple TV+ Cameo Rejected By Seth Rogen, Opts For Netflix's Ted Sarandos Instead: ‘We Said No'</a>
Moreover, they could support functions like making calls, playing music, providing real-time translations and offering navigation assistance, the report noted.
This strategy is similar to that of Meta's existing eyewear and <a href="https://www.benzinga.com/25/05/45534622/sergey-brin-comes-out-of-retirement-to-work-on-gemini-admits-he-made-a-lot-of-mistakes-with-google-glass-as-the-tech-giant-ramps-up-efforts-to-compete-with-meta-and-apple">upcoming devices powered</a> by Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Android XR platform.
Apple has also reportedly shelved a separate project to develop a camera-equipped smartwatch that can analyze its surroundings, the report added.
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's latest comes after the tech giant received a tepid response to its Vision Pro headset. The company's first-generation AR/VR headset struggled to gain traction with consumers due to its <a href="https://www.benzinga.com/news/24/10/41306527/apples-low-cost-vision-pro-could-hit-the-shelves-next-year-everything-you-need-to-know-about-iphone">high price and limited use cases</a>.
The Tim Cook-led company could also be planning to enter the growing market of AI-driven devices. On Wednesday, OpenAI <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45550033/openai-teams-up-with-iphone-designer-jony-ive-as-chatgpt-maker-makes-push-into-hardware-apple-shares-slide">announced a collaboration</a> with former Apple chief design officer Jony Ive to launch new hardware products starting next year.
Price Action: As per <a href="http://pro.benzinga.com/">Benzinga Pro</a>, Apple shares declined by 0.36% on Thursday but rebounded with a 0.70% gain in after-hours trading.
According to Benzinga Edge Stock Rankings, Apple earned a growth score of 33.12%. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see how it compares with other leading stocks</a> like Meta and Alphabet.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/23001631/Screenshot-2025-05-23-at-9.44.36%E2%80%AFAM.png" alt="" class="wp-image-925285" /></a></figure>
Photo Courtesy: Prathmesh T on Shutterstock.com
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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Apple Could Reportedly Launch AI Smart Glasses Next Year And Here Is What All They Are Expected To Do

Top U.S. banks are contemplating a joint venture to issue a dollar-pegged stablecoin in an attempt to counter the increasing competition from the cryptocurrency sector, according to a report dated Thursday.
What Happened: Companies co-owned by&nbsp;JPMorgan Chase&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>),&nbsp;Bank of America&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>),&nbsp;Citigroup&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), and&nbsp;Wells Fargo&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) are exploring the possibility of a joint stablecoin, the Wall Street Journal reported, citing sources familiar with the matter. The discussions, still in their infancy, involve Early Warning Services, the operator of&nbsp;mobile payment app Zelle, and the Clearing House,&nbsp;a real-time payment network.
The decision to proceed with the stablecoin will hinge on several factors, including&nbsp;legislative actions around stablecoins and&nbsp;the demand for them. The banking industry has been gearing up for the potential widespread adoption of stablecoins, which could divert&nbsp;the deposits and transactions they&nbsp;handle.
A Bank of America spokesperson declined to comment when contacted by Benzinga. Responses from other banks are awaited.
See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/05/45579297/peter-schiff-says-a-president-shouldnt-sell-white-house-tours-and-pocket-the-proceeds-as-t" target="_blank" rel="noreferrer noopener">Peter Schiff Says A President Shouldn&#8217;t &#8216;Sell White House Tours&#8217; And Pocket The Proceeds As Trump Prepares To Have Dinner With Memecoin Holders</a>
Why It Matters: The potential joint venture by these banking giants comes at a time when the Senate is making strides towards the final passage of the <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45510057/senate-crypto-bill-passes-key-vote-genius-act-moves-toward-final-passage">GENIUS Act, also known as the stablecoin bill</a>. The proposed legislation aims to establish the first U.S. regulatory framework for issuers of stablecoins—digital tokens that are tied to fiat currencies like the dollar.
The SEC has already clarified that <a href="https://www.sec.gov/newsroom/speeches-statements/statement-stablecoins-040425#_ftn4">certain stablecoins</a>, particularly those pegged to the U.S. dollar and backed by low-risk, liquid assets, are not securities.
Price Action:&nbsp; Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>), an exchange-traded fund that exposes investors to the major U.S. money banks. closed 0.12% lower at $50.23 during Thursday&#8217;s trading session, 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>. 
The stock exhibited a moderately high momentum score as of this writing. To access more such high-momentum banking ETF stocks, visit <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge Stock Rankings</a> for more details.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="717" height="174" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/22235624/Screenshot-2025-05-23-092605.png" alt="" class="wp-image-925274" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/22235624/Screenshot-2025-05-23-092605.png 717w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/22235624/Screenshot-2025-05-23-092605-300x73.png 300w" sizes="(max-width: 717px) 100vw, 717px" /></a></figure>
Photo Courtesy: Panchenko Vladimir on Shutterstock.com
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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.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

JPMorgan, Bank Of America, And Other Banking Titans Discussing Joint Stablecoin To Tackle Crypto Competition: Report

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CORRECTION FROM SOURCE: Upexi Purchases 45,733 Solana Tokens as it Begins Deploying $100 Million Treasury in Solana Strategy

Upexi Increases Solana Treasury to 201,500 Solana Tokens for $30 Million and Begins to Generate Staking Revenue

Upexi Buys Discounted Locked SOL, Surpasses $100 Million of SOL and Becomes the Largest Publicly-Traded Solana Treasury Company

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