The Communication Services Select Sector SPDR Fund (ARCA: XLC)

最新ニュース The Communication Services Select Sector SPDR Fund (ARCA:XLC)

The Communication Services Select Sector SPDR Fund

Communication Services

Technology

Consumer Cyclical

Healthcare

Financial Services

Energy

Real Estate

Other

Industrials

Consumer Defensive

Utilities

Basic Materials

Normally, the fund generally invests substantially all, but at least 95%, of its total assets in the securities comprising the index. The index includes companies that have been identified as Communication Services companies by the GICS, including securities of companies from the following industries: diversified telecommunication services; wireless telecommunication services; media; entertainment; and interactive media & services. The fund is non-diversified.

Meta Platforms, Inc.

Alphabet Inc.Class A

Alphabet Holding Company Inc.

Charter Communications, Inc., Class A

Electronic Arts, Inc.

Comcast Corp. Class A

AT&T Inc.

T-Mobile Usa Inc Esrw Usd Npv Ref Sm#585558

Verizon Communications, Inc.

Walt Disney Co

Leading cryptocurrencies fell sharply Sunday evening amid the launch of meme coins tied to President-elect Donald Trump and his family.
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<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-3.89%</td>
<td>$100,239.24</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>-4.61%</td>
<td>$3,189.30</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>-12.44%</td>
<td>$0.3505</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin plummeted from $106,180 to $99,622 in three hours, eroding $130 billion worth of investors' wealth.
Similarly, Ethereum tanked from $3,414 to $3,150, marking a 4.61% decline in the last 24 hours.
The broader market slump coincided with a <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43078040/trump-coin-tanks-36-even-as-melania-trump-launches-her-own-token-top-analyst-says-his-short-is-going-very-very-well">significant drop</a> in the OFFICIAL TRUMP token launched a couple of days ago.&nbsp;
The enthusiasm linked with the coin evolved into negativity as incoming First Lady Melania Trump launched her own meme coin on Sunday.
Over $1 billion was liquidated from the cryptocurrency market in the last 24 hours, with long liquidations accounting for $925 million.
Bitcoin's Open Interest fell 2.05% in the last 24 hours to $66.77 billion. That said, the majority of derivatives traders were bullish on the asset, as indicated by the Long/Short Ratio.
That said, more than half of derivatives traders on Binance placed short bets on Bitcoin, expecting a correction.
The market sentiment entered the "Extreme Greed" zone, according to the Crypto Fear &amp; Greed Index, sparking concerns of further market correction.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. ET)</td>
</tr>
<tr>
<td>OFFICIAL TRUMP (TRUMP)</td>
<td>+74.00%</td>
<td>$46.06</td>
</tr>
<tr>
<td>Fartcoin (FARTCOIN)</td>
<td>+9.95%</td>
<td>$1.92</td>
</tr>
<tr>
<td>DeXe (DEXE)</td>
<td>+2.10%</td>
<td>$17.55</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.45 trillion, contracting by 5.15% in the last 24 hours.
Stock futures edged slightly lower Sunday evening. The Dow Jones Industrial Average Futures fell 30 points, or 0.07%, as of 9 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 dipped 0.07%, while Nasdaq 100 Futures slipped 0.13%.
The moves come after major averages posted their biggest weekly gain since the presidential elections in November. The Dow Jones Industrial Average and the S&amp;P 500 rose 3.19% and 3.40%, respectively.
The New York Stock Exchange and Nasdaq will remain closed on Monday to commemorate Martin Luther King Jr. Day.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Widely followed cryptocurrency analyst Rekt Capital identified $104,500 as a crucial resistance level for Bitcoin.
"Weekly close above red [$104,500] followed by a successful retest would likely confirm the breakout to new ATHs," the analyst stated, adding a caveat.
"However, a weekly close below red and it&#8217;s possible BTC could pullback again, however likely for a shallower retrace compared to the one of mid-December 2024."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> Bitcoin is trying to assert itself relative to this final major Weekly resistance before new All Time Highs Weekly Close above red followed by a successful retest would likely confirm the breakout to new ATHs However, a Weekly Close below red and it&#39;s possible BTC could… <a href="https://t.co/WTKEEpziNt">pic.twitter.com/WTKEEpziNt</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1881009268293251171?ref_src=twsrc%5Etfw">January 19, 2025</a></blockquote>
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Meanwhile, Michaël van de Poppe, another popular cryptocurrency market commentator, maintained his bullish view on altcoins.
"I expect that we&#8217;ll see strength on Ethereum, Chainlink, Aave, and a lot of altcoins in the coming week as yields are going down and the DXY becomes weaker," he added. "Great times are ahead of us."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">A tremendous weekend with <a href="https://twitter.com/search?q=%24TRUMP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TRUMP</a> and a cascade on the altcoins. I expect that we&#39;ll see strength on <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>, <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a>, <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAVE</a> and a lot of altcoins in the coming week as Yields are going down and the <a href="https://twitter.com/search?q=%24DXY&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DXY</a> becomes weaker. Great times are ahead of us.
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1881090758167474264?ref_src=twsrc%5Etfw">January 19, 2025</a></blockquote>
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Photo by CMP_NZ on Shutterstock
Read Next:    
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43035888/donald-trump-reportedly-open-to-us-crypto-reserve-as-bitcoin-reserve-chatter-gathers-steam">Donald Trump Reportedly Open To US Crypto Reserve As Bitcoin Reserve Chatter Gathers Steam</a></li>
</ul>

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Bitcoin, Ethereum, Dogecoin Plunge As Official Trump Memecoin Loses Way: Analyst Says 'Great Times Are Ahead' For These Coins As Dollar Index Weakens

Jeff Bezos-backed Perplexity reportedly bid to merge with TikTok U.S. on Saturday, but Wedbush analyst Dan Ives hinted Elon Musk&#8217;s X could ultimately <a href="https://www.benzinga.com/general/social-media/25/01/42994923/mrbeast-discussing-buying-tiktok-with-billionaires-to-prevent-us-shutdown-lets-see-if-we-can-pull-this-off">seal the deal</a> amid rising speculation.
What Happened: On Saturday, Perplexity submitted a bid to ByteDance, TikTok&#8217;s Chinese parent company, to form a new entity that includes Perplexity, TikTok U.S., and new capital partners, <a href="https://www.cnbc.com/2025/01/18/perplexity-ai-makes-a-bid-to-merge-with-tiktok-us.html">reported</a> CNBC, citing sources familiar with the matter.
The proposed merger would allow most of ByteDance&#8217;s current investors to maintain their equity stakes while improving Perplexity&#8217;s video capabilities.
See Also: <a href="https://www.benzinga.com/tech/25/01/43051084/mrbeast-unveils-mystery-box-giveaway-to-celebrate-beast-games-episode-6-release-on-amazon-prime-video">MrBeast Unveils Mystery Box Giveaway To Celebrate Beast Games Episode 6 Release On Amazon Prime Video</a>
The source estimates the deal&#8217;s value to exceed $50 billion, contingent on ByteDance&#8217;s shareholders&#8217; decisions to stay or cash out.
Perplexity, <a href="https://www.benzinga.com/news/24/03/37421021/this-jeff-bezos-backed-ai-tool-can-replace-search-engine-for-many-people-says-top-ex-googler-but-the">a startup challenging</a> Alphabet Inc.‘s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google, saw its <a href="https://www.benzinga.com/tech/24/12/42570376/jeff-bezos-backed-perplexity-raises-500-million-tripling-its-valuation-to-9-billion-as-competition-with-google-and-openai-heats-up">valuation soar from $500 million to $9 billion</a> last year.
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 Matters: Previously, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk was considered a potential buyer, though <a href="https://www.benzinga.com/25/01/43019833/elon-musk-buying-tiktok-could-hurt-tesla-warns-gary-black-but-dan-ives-thinks-it-makes-sense">concerns were raised</a> about the impact on the EV giant.
TikTok, which went dark for some time later Saturday started restorning its services on Sunday. Donald Trump &#8220;most likely&#8221; plans to extend TikTok&#8217;s deadline by 90 days to facilitate a deal.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/19214002/Screenshot-2025-01-20-at-8.09.56%E2%80%AFAM-926x1024.png" alt="" class="wp-image-740667" /><figcaption class="wp-element-caption">Source: Truth Social</figcaption></figure>
Musk also took to X, formerly Twitter, and highlighted that while his social media app is not allowed to operate in China, banning TikTok in the U.S. would be &#8220;against freedom of speech.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I have been against a TikTok ban for a long time, because it goes against freedom of speech. That said, the current situation where TikTok is allowed to operate in America, but &#120143; is not allowed to operate in China is unbalanced. Something needs to change. <a href="https://t.co/YVu2hkZEVZ">https://t.co/YVu2hkZEVZ</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1880975630646612254?ref_src=twsrc%5Etfw">January 19, 2025</a></blockquote>
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Before Trump&#8217;s statement about potentially extending TikTok&#8217;s deadline, Ives took to X and predicted that the 90-day window would be used to work on a deal with U.S. tech players, with Musk&#8217;s X being a likely candidate.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Biden Admin never issued the statement…so TikTok went dark for 170 mm users. We believe Trump turns it back on with an Executive Order on Monday once he is sworn in as US President. Then 90 days to work on buyer/partnership with US tech player likely being Musk/X in our view <a href="https://t.co/O2UdLOCMIO">https://t.co/O2UdLOCMIO</a>
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1880874865269547354?ref_src=twsrc%5Etfw">January 19, 2025</a></blockquote>
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ByteDance has previously suggested it will not sell TikTok U.S.
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/tech/24/12/42715441/openais-for-profit-transition-trumps-ai-advisor-and-googles-code-red-this-week-in-ai?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">OpenAI&#8217;s For-Profit Transition, Trump&#8217;s AI Advisor, And Google&#8217;s Code Red: This Week In AI</a></li>
</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.

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Jeff Bezos-Backed Perplexity Reportedly Makes $50 Billion Move To Merge With TikTok, But Elon Musk's X Remains This Analyst's Favorite Bidder

Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) expects continued U.S. government support for its Arizona chip plants under President-elect Donald Trump&#8216;s administration, despite his <a href="https://www.benzinga.com/news/24/07/39807774/trump-says-taiwan-should-pay-us-for-defense-ex-presidents-remark-triggers-fall-in-tsmc-shares">previous criticism of Taiwan&#8217;s semiconductor industry.</a>
What Happened: TSMC CFO Wendell Huang said the company has already received its first $1.5 billion installment of the promised $6.6 billion in CHIPS Act funding during the fourth quarter of 2024, in a CNBC <a href="https://www.cnbc.com/2025/01/19/tsmc-confident-in-continued-chips-act-funding-under-trump-says-cfo.html">interview</a>. The funds are part of the President Joe Biden administration&#8217;s $53 billion initiative to strengthen domestic semiconductor manufacturing.
&#8220;As a matter of fact, in the fourth quarter, we already received the first batch of government support,&#8221; Huang said, noting that future funding would be distributed as construction and production milestones are met.
The company&#8217;s confidence comes despite Trump&#8217;s campaign rhetoric accusing Taiwan of &#8220;stealing&#8221; U.S. chip business and criticizing the CHIPS Act&#8217;s cost. Industry experts anticipate the program will largely continue under Trump due to strong bipartisan support for domestic semiconductor production.
TSMC&#8217;s Arizona investment, totaling over $65 billion across three facilities, represents a crucial piece of U.S. efforts to secure domestic chip manufacturing capabilities. The company&#8217;s first Arizona fab began producing advanced chips in the fourth quarter of 2024 following some delays, with a second facility expected to start operations in 2028.
See Also: <a href="https://www.benzinga.com/news/25/01/43078027/vivek-ramaswamy-expected-to-exit-trumps-doge-task-force-amid-ohio-governor-bid-report">Elon Musk&#8217;s DOGE Co-Lead Vivek Ramaswamy Expected To Exit Trump Admin Task Force Amid Ohio Governorship Bid</a>
What Happened: CEO C.C. Wei emphasized TSMC&#8217;s &#8220;long-standing and good relationship&#8221; with U.S. authorities during the company&#8217;s recent earnings call, where it reported record fourth-quarter profits driven by strong AI chip demand. While choosing to maintain a low profile by skipping Trump&#8217;s inauguration, Wei assured investors of &#8220;frank and open communication&#8221; with both <a href="https://www.benzinga.com/25/01/43053982/taiwan-semiconductor-chief-calls-us-semiconductor-sanctions-manageable-to-skip-trump-inauguration">current and future administrations</a>.
The semiconductor giant faces some challenges in its U.S. expansion, including longer construction timelines due to regulatory requirements and skilled labor shortages. However, Wei expressed confidence in eventually achieving the <a href="https://www.benzinga.com/news/large-cap/25/01/43025761/ai-chip-stocks-gain-momentum-on-taiwan-semiconductor-performance-bidens-semiconductor-sanctions-kick-in">same quality standards in Arizona as in Taiwan</a>.
This development comes as TSMC projects its AI-related revenue to double in 2025, following a tripling in 2024, underlining the strategic importance of its U.S. operations in meeting growing <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43035566/taiwan-semiconductor-projects-ai-revenue-to-double-in-2025-highlights-advanced-packaging-as-growth-driver-analyst">advanced chip demand</a>.
In July, Trump indicated that <a href="https://www.benzinga.com/news/24/07/39807774/trump-says-taiwan-should-pay-us-for-defense-ex-presidents-remark-triggers-fall-in-tsmc-shares">Taiwan should bear the cost of its defense</a>. "I know the people very well, respect them greatly. They did take about 100% of our chip business. I think, Taiwan should pay us for defense," he said.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43078040/trump-coin-tanks-36-even-as-melania-trump-launches-her-own-token-top-analyst-says-his-short-is-going-very-very-well">Trump Coin Tanks 36%, Even As Melania Trump Launches Her Own Token: Top Analyst Says His Short Is &#8216;Going Very, Very Well&#8217;</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.

Equities

Trump Once Said Taiwan Took '100% Of Our Chip Business,' But TSMC Confident Of Support For Arizona Plants Under Incoming President

President-elect Donald Trump&#8217;s official meme coin plunged sharply Sunday evening, coinciding with the launch of another token launched by Melania Trump. 
What happened: The OFFICIAL TRUMP token crashed nearly 36% from $73 to $46 late Sunday evening, wiping out nearly $5 billion worth of market capitalization, <a href="https://dexscreener.com/solana/9dirurpjnanzhn6ts5hglouhtjrt1jgspbxnycrfz2ad">according </a>to data from DEX Screener. The dump followed the launch of a similar token by the incoming first lady, Melania Trump.
Melania Trump shared a link to the official website of the meme coin MELANIA in her X post, with a caption, "The Official Melania Meme is live!" Donald Trump has reshared the post.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The Official Melania Meme is live! You can buy $MELANIA now.  <a href="https://t.co/8FXvlMBhVf">https://t.co/8FXvlMBhVf</a> FUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P <a href="https://t.co/t2vYiahRn6">pic.twitter.com/t2vYiahRn6</a>
&mdash; MELANIA TRUMP (@MELANIATRUMP) <a href="https://twitter.com/MELANIATRUMP/status/1881094861279129643?ref_src=twsrc%5Etfw">January 19, 2025</a></blockquote>
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The coin, which was themed around the incoming first lady, was launched on Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), much like the <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43076559/donald-trumps-meme-coin-trump-rallies-103-in-a-day-creates-billions-out-of-thin-air">token's launch tied to her husband</a> a couple of days ago.
The meme coin's website issued a disclaimer, stating, "Melania Memes are intended for collecting and entertainment purposes only. They are not financial instruments or investments."
MELANIA token has <a href="https://dexscreener.com/solana/9dirurpjnanzhn6ts5hglouhtjrt1jgspbxnycrfz2ad">jumped</a> over 21,000% in the last 24 hours to a market capitalization of $11.39 billion and generating approximately $383 million in liquidity in just four hours.
Popular cryptocurrency analyst Ali Martinez revealed that he shorted the OFFICIAL TRUMP token and that it was &#8220;going well.&#8221; Earlier he announced selling all of his TRUMP tokens.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">My <a href="https://twitter.com/search?q=%24TRUMP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TRUMP</a> short is going very, very well! <a href="https://t.co/n7FH2Ce9um">https://t.co/n7FH2Ce9um</a> <a href="https://t.co/kEv9QXuaFN">pic.twitter.com/kEv9QXuaFN</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1881092494680879112?ref_src=twsrc%5Etfw">January 19, 2025</a></blockquote>
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Another widely-followed cryptocurrency investor, Altcoin Gordon, disclosed opening a $500,000 short on the token. 
&#8220;Liquidation is $90 If it hits $55, I will make $2.7 million. I am ready for the sell-off,&#8221; the trader revealed their strategy.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I just opened a $500K short on Trump coin Liquidation is $90 If it hits $55 I will make $2.7M. I am ready for the sell off. You think I will win? <a href="https://t.co/uRNU5yMP4H">pic.twitter.com/uRNU5yMP4H</a>
&mdash; Gordon (@AltcoinGordon) <a href="https://twitter.com/AltcoinGordon/status/1880962042993299522?ref_src=twsrc%5Etfw">January 19, 2025</a></blockquote>
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See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/government/regulations/25/01/42994641/italys-largest-bank-leaps-into-bitcoin-trading-with-1-million-test-investment-but-ceo-says-he-doesnt-invest-in-btc-personally">Italy&#8217;s Largest Bank Leaps Into Bitcoin Trading With $1 Million &#8216;Test&#8217; Investment But CEO Says He Doesn&#8217;t Invest In BTC Personally</a>
Why It Matters: The launch of OFFICIAL TRUMP created a stir in the cryptocurrency space, as its fully diluted valuation reached a whopping $74 billion at one time.
Reports <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43076559/donald-trumps-meme-coin-trump-rallies-103-in-a-day-creates-billions-out-of-thin-air">suggested </a>that&nbsp; CIC Digital LLC, an affiliate of the Trump Organization, and a related entity, Fight Fight Fight LLC, own an 80% share of the digital asset, fueling speculation of an increase in Trump&#8217;s fortune as a result of the meme coin.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24TRUMP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TRUMP</a>&#39;s meme coin just traded at $74. The total Supply is 1B, and 200M is in circulation. Total mktcap is $74B. Trump&#39;s paper profit is ~$60B (80% of which is not in circulation). Does this make him the greatest crypto billionaire in history? And it took just 36 hours!… <a href="https://t.co/v52wgtv9On">pic.twitter.com/v52wgtv9On</a>
&mdash; Jim Bianco (@biancoresearch) <a href="https://twitter.com/biancoresearch/status/1881001234838016370?ref_src=twsrc%5Etfw">January 19, 2025</a></blockquote>
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However, naysayers didn't hold back. Anthony Scaramucci, a prominent cryptocurrency advocate and former White House Communications Director, <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43076714/scaramucci-criticizes-donald-trumps-meme-coin-launch-idi-amin-level-corruption">labeled the launch</a> as "Idi Amin-level corruption."
Donald Trump was all set to take the presidential oath on Monday. He has confirmed that his inaugural address will take place indoors in the Capitol Rotunda due to dangerously cold weather in Washington, D.C.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/25/01/42993521/michael-saylors-microstrategy-not-alone-in-bitcoin-acquisition-says-bitwise-chief-investment-officer-its-a-bona-fide-megatrend">Michael Saylor&#8217;s MicroStrategy Not Alone In Bitcoin Acquisition, Says Bitwise Chief Investment Officer: &#8216;It&#8217;s A Bona Fide Megatrend&#8217;</a></li>
</ul>

Politics

$SOL

Trump Coin Tanks 36%, Even As Melania Trump Launches Her Own Token: Top Analyst Says His Short Is 'Going Very, Very Well'

Vivek Ramaswamy, co-leader of President-elect Donald Trump&#8216;s Department of Government Efficiency, is expected to step down from his position, potentially complicating the administration&#8217;s ambitious federal spending reduction goals. 
What Happened: Ramaswamy, 39, plans to pursue a campaign for Ohio governor by month&#8217;s end, <a href="https://www.cbsnews.com/news/vivek-ramaswamy-expected-to-depart-doge/">reported</a> CBS News citing multiple sources. The departure comes as Ramaswamy&#8217;s DOGE co-leader, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk, recently scaled back expectations for budget cuts from $2 trillion to a more <a href="https://www.benzinga.com/startups/25/01/43046108/musks-doge-ambitions-shrink-why-2-trillion-budget-cuts-may-be-out-of-reach">modest $1 trillion target</a>.
During a recent interview on X, Musk characterized even this reduced goal as an &#8220;epic outcome&#8221; if achieved.
The leadership shake-up has caught Wall Street&#8217;s attention, though analysts remain optimistic about its impact on the defense sector. 
Truist Securities analyst Michael Ciarmoli initiated coverage of Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) and Northrop Grumman Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) with Buy ratings, describing DOGE-related concerns as &#8220;overblown&#8221; given the <a href="https://www.benzinga.com/analyst-ratings/initiation/25/01/43010706/doge-fears-for-defense-contractors-lockheed-martin-northrop-grumman-overblown-analyst-says">advisory nature of the department</a>.
Ramaswamy did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
See Also: <a href="https://www.benzinga.com/25/01/43076609/tiktok-back-online-in-us-after-trump-vows-monday-executive-order">TikTok Back Online In US After Trump Vows Monday Executive Order</a>
Why It Matters: According to the report, internal dynamics are growing friction between Ramaswamy and incoming DOGE staff, with associates of Musk privately expressing frustration over Ramaswamy&#8217;s limited participation in key initiatives.
The department, while not a full federal agency, is tasked with advising on bureaucracy reduction and federal spending cuts, with a mandate to <a href="https://www.benzinga.com/news/global/24/11/41927289/trump-appoints-elon-musk-and-vivek-ramaswamy-to-lead-doge-targeting-bureaucracy-and-65-trillion-federal-spending-we-will-not-go-gently">complete its work by July 2026</a>.
Market observers note that previous attempts at significant federal spending reductions have faced congressional resistance, with even modest proposals struggling to gain traction. 
Read Next: 
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<li><a href="https://www.benzinga.com/25/01/43077969/bernie-sanders-slams-elon-musks-vision-of-super-high-iq-aristocracy-who-are-going-to-be-running-the-world-for-us">Bernie Sanders Slams Elon Musk&#8217;s Vision Of &#8216;Super High IQ&#8217; Aristocracy Who Are &#8216;Going To Be Running The World For Us&#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.

Government

Elon Musk's DOGE Co-Lead Vivek Ramaswamy Expected To Exit Trump Admin Task Force Amid Ohio Governorship Bid

On Sunday, Sen. Bernie Sanders (I-Vt.) criticized Elon Musk&#8217;s vision of a &#8220;super high IQ&#8221; aristocracy, questioning the billionaire&#8217;s intentions with technology and wealth distribution.
What Happened: Sanders took to X to express his concerns about Musk&#8217;s vision of a superior aristocracy of people with &#8220;super high IQs&#8221;. 
He questioned whether Musk&#8217;s goal with technology was to improve life for everyone or to further concentrate wealth and power among the elite.
In a video attached to the post, Sanders said this &#8220;aristocracy&#8221; who are living an extraordinary life while claiming they know all about technology are &#8220;going to be running the world for us.&#8221;
Sanders suggested that artificial intelligence holds the potential to improve life for everyone, but emphasized the need to ensure this benefit is realized rather than allowing power to become further concentrated among the elite. He criticized Musk, claiming such concentration is precisely what Musk represents.
&#8220;These guys are smart. They are aggressive. They want even more wealth. They want even more power,&#8221; said Sanders. He said they were &#8220;enormously dangerous.&#8221;
Earlier in the video, Sanders singled out Musk for being a part of this new aristocracy but with a difference. &#8220;You don&#8217;t hear Mr. Musk talking about the need to provide health care to all people as a human right. You don&#8217;t hear Mr. Musk talking about the need to make sure that all our people have decent education or live in safe, affordable housing.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">You may have heard Mr. Musk talking about a superior aristocracy of people with "super high IQs." Does he want to use technology to improve life for all? No. What he wants is even more wealth and even more power for the people on top. <a href="https://t.co/9MPZBX4Ts5">pic.twitter.com/9MPZBX4Ts5</a>
&mdash; Bernie Sanders (@BernieSanders) <a href="https://twitter.com/BernieSanders/status/1880673552774664665?ref_src=twsrc%5Etfw">January 18, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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This is not the first time Sanders has <a href="https://www.benzinga.com/24/12/42676387/bernie-sanders-the-american-people-are-disgusted-with-musk-calls-on-democrats-to-end-super-pacs-in-primaries">criticized Musk</a>. He has previously expressed his disdain for billionaires, including Musk, influencing elections and called for an immediate ban on Super PACs by the Democratic National Committee.
See Also: <a href="https://www.benzinga.com/news/25/01/43077036/elon-musks-mom-maye-model-author-and-international-dietitian-is-a-sensation-on-rednote-as-tiktokers-flee-to-the-chinese-platform">Elon Musk&#8217;s Mom Maye – Model, Author And &#8216;International Dietitian&#8217; – Is A Sensation On RedNote As TikTokers Flee To The Chinese Platform</a>
Why It Matters: Sanders&#8217; criticism comes in the wake of President Joe Biden&#8217;s farewell address, where he raised concerns about an <a href="https://www.benzinga.com/news/25/01/43019094/bidens-farewell-address-targets-tech-oligarchy-in-trump-2-0-era-president-says-americans-face-avalanche-of-misinformation">emerging tech oligarchy</a> and social media's impact on American democracy. This signals potential regulatory headwinds for the technology sector, including companies led by Musk.
Furthermore, Musk&#8217;s <a href="https://www.benzinga.com/news/24/12/42627827/bernie-sanders-blasts-president-elon-musk-others-join-chorus-as-gov-shutdown-looms">influence in the political dynamics</a> of President-elect Donald Trump&#8217;s team has been a point of contention. His criticism of a bipartisan spending bill during a government shutdown highlighted his outsized role in Trump&#8217;s administration. Notably, Sanders&#8217; post comes just a day ahead of Trump being inaugurated as <a href="https://www.benzinga.com/topic/donald-trump">the 47th president</a>.
Despite his criticisms, Sanders has also <a href="https://www.benzinga.com/startups/24/12/42508653/bernie-sanders-supports-elon-musks-doge-stating-that-it-must-target-the-pentagons-886-billion-budget">acknowledged Musk&#8217;s initiatives</a>, such as the Department of Government Efficiency (DOGE), co-chaired by Musk and Vivek Ramaswamy. He agreed with Musk&#8217;s criticism of the Pentagon's $886 billion budget, which had failed its 7th audit in a row.
Image via Shutterstock
Did You Know?
Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

General

Bernie Sanders Slams Elon Musk's Vision Of 'Super High IQ' Aristocracy Who Are 'Going To Be Running The World For Us'

In a recent conversation on her podcast, <a href="https://www.benzinga.com/personal-finance/25/01/42834090/should-i-cash-out-my-annuity-suze-orman-reveals-why-this-listeners-investment-isnt-as-good-as-it-seems">Suze Orman</a> addressed a question from a listener, Vanessa, who purchased a whole life insurance policy for her 10-year-old daughter in 2017. The policy had a $100,000 benefit and required 20 years of monthly payments at $75. Vanessa and her husband had already paid $6,750 over 7.5 years, but with the policy's current value at $3,353, they were unsure whether to continue or cash out and redirect the funds elsewhere.
Orman didn't mince words. "Why did you buy life insurance on a 10-year-old child?" she asked incredulously. "Who sold you that?" She clarified her belief that <a href="https://www.benzinga.com/personal-finance/24/10/41260491/suze-orman-on-using-life-insurance-to-buy-out-family-not-immoral-but-it-wont-solve-your-problem">life insurance</a> is primarily for those with financial dependents. The purpose, she explained, is to replace income in the event of a provider's death, not to insure a child who is not financially responsible for others.
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Orman stated that the policy didn't make much financial sense either. At the end of the 20-year term, Vanessa would have paid $18,000 in premiums for the $100,000 policy. Whole life insurance accrues cash over time, but Orman argued that the returns aren't great compared to other investment options they could pursue.&nbsp;
Instead, she suggested redirecting the money to a <a href="https://www.benzinga.com/personal-finance/24/01/42757069/i-dont-care-what-tax-bracket-youre-in-suze-orman-insists-youd-be-crazy-to-have-anything-other-than-a-roth-retirement-account">Roth IRA</a> or an S&amp;P 500 ETF could yield significantly better outcomes. For instance, if the family cashed out the current value of $3,353 and invested it, the growth potential could be exponential, especially over decades.
Using a hypothetical example, Orman illustrated the benefits of investing:
If the $3,353 was invested in a Roth IRA, earning an average annual return of 8% and $75 was added monthly for 12.5 years, the account could grow to approximately $27,000.
See Also: <a href="https://www.benzinga.com/money/suze-orman-retirement-bucket">&#8216;Which Bucket Do I Draw From First?&#8217; Suze Orman Explains To 67-Year-Old The Best Order For Tapping Into Her Retirement Accounts</a>
That investment might grow to $140,000 by age 50. By age 70, it could potentially reach $600,000 – all tax-free in a Roth IRA.
"That's money that she could use," Orman said, emphasizing the flexibility and long-term benefits of investing. "That $100,000 life insurance policy doesn&#8217;t help her at all, really, while she&#8217;s alive."
If life insurance is necessary, Orman suggested term life insurance as a more practical option. Term policies provide coverage for a set period, often at much lower premiums, allowing individuals to allocate more money toward <a href="https://www.benzinga.com/25/01/42793107/pay-off-the-car-loan-or-save-the-cash-suze-orman-shares-what-makes-the-most-sense-for-a-72-year-old-listeners-25k-dilemma">savings and investments</a>.
Trending: Many are using retirement income calculators to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a>
Orman's recommendation to Vanessa was clear: stop the whole life policy. She advised investing the money in a brokerage account if the cash value can't be transferred directly into a Roth IRA. Over time, the compounding growth could create a financial cushion far more valuable than the whole life policy's benefit.
While Vanessa's intentions were likely well-meaning, Orman's analysis underscores the importance of aligning financial decisions with long-term goals. In this case, investing the funds could provide Vanessa's daughter with a more robust financial future.
Read Next:
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<li>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/1milsaved"> The percentage may shock you</a>.</li>
<li><a href="https://www.benzinga.com/money/62-years-old-with-1-mil-saved">I&#8217;m 62 Years Old And Have $1.2 Million Saved. Is This Enough to Retire Stress-Free?</a></li>
</ul>

Personal Finance

Why Did You Buy Life Insurance On A 10-Year-Old Child?' Suze Orman Tells Parents They Made A Mistake And To Quit The Policy

These eight mid-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>H&amp;E Equipment Services, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HEES#NASDAQ">HEES</a>) shares rocketed 100.59% after United Rentals, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/URI#NYSE">URI</a>) announced it would acquire the <a href="https://www.benzinga.com//node/42974291" target="_blank" rel="noreferrer noopener">company for around $4.8 billion</a>. UBS downgraded H&amp;E Equipment to Neutral from Buy and raised the price <a href="https://www.benzinga.com/quote/HEES/analyst-ratings" target="_blank" rel="noreferrer noopener">forecast to $92 from $60</a>.</li>
<li>SEMrush Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SEMR#NYSE">SEMR</a>) shares jumped 36.17%, probably due to overall market strength after CPI data was in line with estimates and core CPI rose by less than expected. Also, Morgan Stanley upgraded the company to Overweight from Equal-Weight and raised the <a href="https://www.benzinga.com/quote/semr/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast to $20 from $17</a>.</li>
<li>Compass, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COMP#NYSE">COMP</a>) shares upped 26.36% after the company raised its <a href="https://www.benzinga.com//node/42997946" target="_blank" rel="noreferrer noopener">fourth-quarter and FY24 guidance</a>.</li>
<li>Blueprint Medicines Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPMC#NASDAQ">BPMC</a>) shares grew 25.87% after the company reported a year-over-year increase in <a href="https://www.benzinga.com//node/42935745" target="_blank" rel="noreferrer noopener">FY24 AYVAKIT revenue results</a>.</li>
<li>Alignment Healthcare, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALHC#NASDAQ">ALHC</a>) stock grew 22.73%.</li>
<li>Option Care Health, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPCH#NASDAQ">OPCH</a>) shares gained 21.55% last week after the company approved a new $500 million stock repurchase program and issued FY24 adjusted EPS guidance above estimates. Barrington Research maintains Option Care Health with an Outperform rating and raised the <a href="https://www.benzinga.com/quote/OPCH/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast from $32 to $33</a>.</li>
<li>ImmunityBio, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBRX#NASDAQ">IBRX</a>) stock escalated 21.49% on updates on its ongoing FDA discussions regarding three areas of its clinical development pipeline: non-muscle invasive bladder cancer (NMIBC) and <a href="https://www.benzinga.com//node/43038889" target="_blank" rel="noreferrer noopener">non-small cell lung cancer (NSCLC)</a>.</li>
<li>IonQ, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>) stock surged 20.29%  after Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) issued a statement to its business customers to get "quantum ready" and NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) announced <a href="https://www.benzinga.com/25/01/43011494/whats-going-on-with-ionq-stock-today" target="_blank" rel="noreferrer noopener">its first-ever quantum day event</a>.</li>
</ol>
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<li><a href="https://www.benzinga.com/news/large-cap/25/01/43076257/microstrategy-sofi-technologies-and-carvana-are-among-top-large-cap-gainers-last-week-jan-13-jan-17-are-the-others-in-your-portfolio" target="_blank" rel="noreferrer noopener">MicroStrategy, SoFi Technologies And Carvana Are Among Top Large-Cap Gainers Last Week (Jan 13-Jan 17): Are The Others In Your Portfolio?</a></li>
<li><a href="https://www.benzinga.com/news/large-cap/25/01/43076444/moderna-gamestop-and-snap-are-among-top-large-cap-losers-last-week-jan-13-jan-17-are-the-others-in-your-portfolio" target="_blank" rel="noreferrer noopener">Moderna, GameStop And Snap Are Among Top Large-Cap Losers Last Week (Jan 13-Jan 17): Are The Others In Your Portfolio?</a></li>
</ul>
Image via Shutterstock

Mid Cap

ALHC

BPMC

COMP

HEES

IBRX

IONQ

MSFT

NVDA

OPCH

SEMR

IonQ, H&E Equipment Services And ImmunityBio Are Among Top Mid Cap Gainers Last Week (Jan 13-Jan 17): Are The Others In Your Portfolio?

Trump Said He Will Use Emergency Powers To Allow People To Build Big AI Plants

President-elect Donald Trump and his incoming VP JD Vance debuted their new presidential and vice presidential portraits last week and, well, they could not have been more different.
Daniel Torok, the President-elect's chief photographer, revealed the portraits on X. "We are entering the GOLDEN AGE OF AMERICA," Torok wrote. His feed quickly filled up with hilarious commentary comparing and contrasting Trump and Vance as mafia don to blue-eyed Boy Scout.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We are entering the GOLDEN AGE OF AMERICA! &#x2764;&#xFE0F;&#x1f1fa;&#x1f1f8; <a href="https://t.co/tU3nCgAqEi">pic.twitter.com/tU3nCgAqEi</a>
&mdash; Daniel Torok (@dto_rok) <a href="https://twitter.com/dto_rok/status/1879743327781945429?ref_src=twsrc%5Etfw">January 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
"They go hard," <a href="https://www.donaldjtrump.com/news/07024bed-769c-482f-a243-5c5ee1682e9e">wrote</a> Trump's transition team in a one-sentence press release about the official portraits. There was no explanation about who or what went hard though we presume the two men in the portrait.
Clearly Trump's demeanor, eyes squinting, defiant mob-boss look on his face, is not a far cry from the mugshot seen around the world when <a href="https://www.benzinga.com/news/23/08/33851310/donald-trump-election-fraud-probe-georgia-grand-jury-reportedly-issues-10-indictments">he was booked</a> into the Fulton county jail on charges of attempting to steal the 2020 presidential election. He was clearly fuming then. But now? Several years later and the leader of the free world, what&#8217;s he so annoyed about?
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43076559/donald-trumps-meme-coin-trump-rallies-103-in-a-day-creates-billions-out-of-thin-air">Donald Trump&#8217;s Meme Coin &#8216;TRUMP&#8217; Rallies 103% in a Day, Creates Billions Out of Thin Air</a>
<h2 class="wp-block-heading">There&#8217;s A Method To His Meanness</h2>
In addition to evoking a tough-guy, almost scary, masculine energy in his 2025 presidential portrait, we now know that the 2023 mugshot went on to serve a higher purpose: it <a href="https://www.benzinga.com/markets/cryptocurrency/23/12/36205739/trump-mug-shot-gets-nft-treatment-how-you-can-also-own-a-piece-of-the-suit-he-wore">helped raise funds</a> for Trump&#8217;s 2024 election campaign as part of a collection of non-fungible tokens (NFTs).
The threatening face ultimately made its way to <a href="https://www.benzinga.com/25/01/42890191/trump-themed-nfts-launch-on-bitcoin-network-for-first-timeheres-what-you-should-know">the recent launch</a> of Trump's latest NFT collection, &#8220;Trump Bitcoin Digital Trading Cards,&#8221; on the Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) network. 
CollectTrumpCards, the U.S. president as of Jan 20&#8217;s official <a href="https://x.com/collecttrump?lang=en">NFT account on X</a>, announced that buyers of 100 &#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/23/12/36205739/trump-mug-shot-gets-nft-treatment-how-you-can-also-own-a-piece-of-the-suit-he-wore">Mugshot Edition</a>&#8221; NFTs can claim them on Magic Eden by submitting their Bitcoin wallet. 
So there&#8217;s money to be made on coins, as witnessed by the <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43076559/donald-trumps-meme-coin-trump-rallies-103-in-a-day-creates-billions-out-of-thin-air">Saturday launch </a>of the meme coin TRUMP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) that immediately soared to to $5.6 billion within just 24 hours. 
And then there&#8217;s JD Vance whose bright blue eyes and congenial smile remind one of a boy scout leader in a small Ohio town who made it big and couldn't be happier.
Things sure have changed since Gilbert Stuart painted George Washington&#8217;s portrait in 1797.
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</ul>
Photo courtesy of Trump-Vance Transition Team/EPA-EFE/Shutterstock

$TRUMP

Donald Trump And JD Vance's Official Portraits: Mugshot Meme Vs Smiling Boy Scout?

AAPL

President Elect Trump At Pre-Inauguration Rally, Said He Spoke With Apple's Tim Cook Today; Cook Said They'd Make Massive Investment In The U.S.

<a href="https://www.benzinga.com/personal-finance/25/01/42953411/nba-star-shaq-learned-true-meaning-of-pressure-after-his-dad-took-him-to-a-homeless-family-he-paid-36000-to-get-them-off-the-streets">Shaquille O'Neal</a> doesn't just walk into a room—he fills it, and not just because of his 7'1" frame. The NBA legend and Hall of Famer has a knack for showing up at the right time, and in one particularly unforgettable moment, he did so with his signature mix of generosity and flair.&nbsp;
In 2021, as reported by CBS News, Shaq was browsing a Zales jewelry store in Atlanta when he noticed a young man nervously making payments on an engagement ring. What happened next is classic Shaq.
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The basketball icon casually pulled out his credit card and handed it to the cashier, covering the remaining balance for the surprised customer. The interaction, captured on video, shows the stunned man shaking Shaq's hand and taking a photo with the legend himself. Speaking later on TNT's Inside the NBA, Shaq explained, "I saw the guy, he was just so shy. He was saying, ‘How much do I still owe to pay off the ring?' So I told him, ‘You know what, tell your girlfriend I got it.'"
It wasn't a publicity stunt—just Shaq being Shaq. On the broadcast, he elaborated: "I try to do something good every day. Whether it's buying furniture for a family or helping someone pay off layaway, <a href="https://www.benzinga.com/personal-finance/24/12/42715996/nba-legend-shaq-abandoned-a-40-million-reebok-shoe-deal-after-a-lady-confronted-him-over-high-price-tag-maam-i-dont-make-the-prices">I just like making people happy</a>."
But this wasn't just a one-off moment. O'Neal has a long history of stepping up when he sees a need. From paying for the funeral of a young girl in Houston killed by gun violence to donating a year's rent for an Atlanta family whose home wasn't wheelchair-accessible, Shaq's generosity knows no bounds. "If I see someone struggling, I try to take care of it," he has said.
See Also: With 100+ historic trademark victories, this company holds IP for some of the highest-grossing characters in history. Now, they've propelled these icons into the future using next-gen patented AR, VR, and AI technology. <a href="https://www.benzinga.com/money/elf-labs-1">There&#8217;s now a limited window for investors to claim shares at just $2/share with $980 minimum—but the clock is ticking.</a>
Of course, these acts of kindness are only one part of his larger-than-life persona. While many know him for his basketball accolades—four NBA championships, 15 All-Star appearances, and a spot in the Hall of Fame—Shaq has built an empire off the court that's just as impressive. With an estimated net worth of $500 million, he's a savvy entrepreneur who's invested in the likes of <a href="https://www.benzinga.com/personal-finance/24/10/41432168/nba-icon-shaquille-oneal-says-an-accidental-babysitting-gig-led-to-his-early-investment-in-googl">Google during its early days</a>, as well as other businesses like Papa John's, Krispy Kreme, and Ring. He also owns dozens of franchises, and has endorsement deals that stretch across industries.
But what makes Shaq unique isn't just his business acumen or his basketball legacy. It's his ability to connect with people, whether he's shaking hands with a stranger at Zales or tipping a waitress $1,000 to fix her car. As he said about the young man in Atlanta, "He was a hardworking guy just trying to do something special for someone he loves. How could I not help him?"
Shaq's story isn't just about success—it's about using that success to lift others. And whether he's paying for an engagement ring or helping a family get back on their feet, he proves time and again that being a true legend is about more than just talent; it's about heart.
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NBA Legend Shaq Spotted A Young Man Buying An Engagement Ring In Zales When He Swooped In And Paid For It — 'Tell Your Girlfriend I Got It'

In the wake of a contentious app update, Sonos Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SONO#NASDAQ">SONO</a>) CEO Patrick Spence stepped down from his role last week.
What Happened: Spence&#8217;s departure follows an app update that resulted in a decrease in sales and customer satisfaction for Sonos. 
The update, which eliminated features that customers found useful, was intended to lay the groundwork for future improvements but instead disrupted many features for existing users.
Interim CEO Tom Conrad, in a communication to staff, acknowledged the company&#8217;s errors and stressed the importance of rebuilding customer trust, as reported <a href="https://www.theverge.com/2025/1/13/24342354/sonos-interim-ceo-tom-conrad-employee-letter?utm_source=chatgpt.com">by</a> The Verge.
"I've heard from many of you about your own frustrations about how far we've drifted from our shared ideals," he wrote in the letter. 
"There's a tremendous amount of work in front of us, including what I'm sure will be some very challenging moments, decisions, and trade-offs, but I'm energized by the passion I see all around me for doing right by our customers and getting back to the innovation that is at the heart of Sonos' incredible history," Conrad wrote. 
&#8220;I know as well as anyone the incredible power of what we can do. A Sonos Move was playing in the delivery room when my daughter (11 months just last week!) was born. Sonos provides a similar soundtrack for millions of lives throughout the world every single day. When it all works, it's absolute magic,&#8221; he further added. 
Also Read: <a href="https://www.benzinga.com/25/01/43076734/could-cupertino-save-struggling-sonos-speculation-about-apple-bid-abounds">Could Cupertino Save Struggling Sonos? Speculation About Apple Bid Abounds</a>
&#8220;It's also true that when it doesn't work, our customers are taken out of the moment and are right to feel that we've let them down. I think we'll all agree that this year we've let far too many people down. As we've seen, getting some important things right (Arc Ultra and Ace are remarkable products!) is just not enough when our customers' alarms don't go off, their kids can't hear their playlist during breakfast, their surrounds don't fire, or they can't pause the music in time to answer the buzzing doorbell,&#8221; he wrote in the letter. 
Despite successful product introductions like&nbsp;the Sonos Ace headphones and&nbsp;the Arc Ultra soundbar, Sonos faces a challenging journey to mend its brand and customer relationships.
Why It Matters: The resignation of Spence underlines the significant impact of the app update debacle on Sonos&#8217;s leadership and overall business. 
The company&#8217;s future success hinges on its ability to restore customer confidence and effectively manage the fallout from the controversial update. 
The shakeup in leadership, coupled with the need to repair its brand image, presents a critical juncture for Sonos. The company&#8217;s next steps will be closely watched by investors and customers alike.
Read Next
<a href="https://www.benzinga.com/news/management/25/01/42947823/sonos-shares-jump-after-company-announces-ceo-transition-the-details">Sonos Announces CEO Transition: The Details </a>
Image: Shutterstock

SONO

Sonos' Interim CEO Hits The Right Notes In Employee Letter, Here's The Key Takeaway

Charlie Munger, who passed away in 2023 at the age of 99, shared his final reflections on life and career, offering profound insights into his journey to success.
What Happened: Munger, a Harvard Law graduate, initially embarked on his career in a prestigious California firm. Despite his success, he sought&nbsp;more than what a senior&nbsp;law partner could earn, leading him to explore investments in stocks, businesses, and property development, and eventually founding a law firm with colleagues.
Munger&#8217;s&nbsp;three basic rules for career&nbsp;satisfaction included striving to deserve what you want, working under people you admire, and having intense interest in your work. He emphasized the importance of reputation and integrity, and the joy derived from earning deserved trust.
&#8220;I have three basic rules for career satisfaction that have always helped me, and I believe they can help any young person evaluating a career decision. While meeting all three is nearly impossible, you should try anyway,&#8221; Munger <a href="https://www.cnbc.com/2023/11/29/charlie-munger-these-basic-career-rules-made-me-successful-in-life-with-warren-buffett-i-had-all-3.html">wrote</a> for CNBC.
First, he advised never to sell anything one wouldn't buy for oneself. He believed the best approach to achieving what one wants is to focus on deserving it, a notion rooted in the golden rule. 
&#8220;There is no ethos, in my opinion, that is better for any person to have. By and large, the people who have had this ethos win in life, and they don't win just money and honors — they win the respect and the deserved trust of the people they deal with,&#8221; he wrote. 
Also Read: <a href="https://www.benzinga.com/markets/25/01/42935637/heres-how-charlie-mungers-final-investment-move-doubled-his-money-reveals-his-close-friend-li-lu">Here&#8217;s How Charlie Munger&#8217;s Final Investment Move Doubled His Money, Reveals His Close Friend Li Lu</a>
Second, Munger stressed the importance of working only for those one respects and admires. He warned against working under individuals one does not admire, noting the risks posed by authority figures who exert influence, especially through rewards. 
Munger further wrote, &#8220;Generally, your outcome in life will be more satisfactory if you work under people whom you correctly admire.&#8221;
Finally, Munger encouraged working alongside people whose company one genuinely enjoys. He argued that excelling in any field requires a deep interest in the subject and enjoyment of the process. He advocated for aligning one&#8217;s work with personal interests and surrounding oneself with enjoyable colleagues. 
&#8220;I've had marvelous partners, full of assiduity, all my life. I think I got them partly because I tried to deserve them, and partly because I was shrewd enough to select them, and partly because there was some luck,&#8221; he concluded. &nbsp;
Why It Matters: Munger&#8217;s career and life philosophy have been a guiding light for many in the investment world. His emphasis on integrity, reputation, and passion for work, coupled with his successful partnership with Warren Buffett, have left an indelible mark on the industry. 
His passing leaves a void that will be hard to fill, but his teachings and principles will continue to inspire and guide future generations of investors. His legacy is a testament to the power of perseverance, integrity, and passion in achieving success.
Read Next
<a href="https://www.benzinga.com/news/24/06/39347990/this-famous-piece-of-wisdom-from-charlie-munger-can-go-a-long-way-in-investing-and-in-life-say-inves" target="_blank" rel="noreferrer noopener">This Famous Piece Of Wisdom From Charlie Munger Can Go A Long Way In Investing — And In Life, Say Investment Experts</a>

Success Stories

COST

DJCO

Charlie Munger's 3 Rules For Success: 'Don't Sell What You Wouldn't Buy, Work For Those You Admire, Partner With People You Enjoy'

Billionaire entrepreneur Mark Cuban has shared that the best time to start a business is when you&#8217;re at your lowest. This strategy, he says, is what <a href="https://www.benzinga.com/news/24/10/41196856/heres-how-mark-cubans-drunken-splurge-of-125-000-turned-into-a-profitable-investment">transformed him into a millionaire</a>.
What Happened: In a recent podcast interview, Cuban said that having nothing to lose is the ideal time to kickstart a business. This was his situation&nbsp;when he launched his first&nbsp;tech company, MicroSolutions, in 1983.
Cuban, who had recently lost his job and was living in a crowded apartment, sold MicroSolutions seven years later for $6 million, turning him into a millionaire. His subsequent venture, Broadcast.com, was&nbsp;sold to Yahoo for $6&nbsp;billion in 1999, catapulting him into the billionaire&#8217;s club.
"If you've got nothing, it's the perfect time to start a business. If you want to take that next step, you have to be able to deal with the consequences of changing your circumstances. Creating a business gives you the greatest potential upside and the greatest leverage on your time, but it also creates the most risk,&#8221; Cuban <a href="https://www.youtube.com/watch?v=0cn3VBjfN8g">said</a>.  
Today, 66-year-old Cuban boasts&nbsp;an estimated net worth of&nbsp;$7.79 billion. He underscored the significance of being ready for the risks and uncertainties that come with entrepreneurship. 
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/11/41703723/mark-cubans-million-dollar-advice-to-teens-if-i-were-16-again-id-start-this-lucrative-side-hustle" target="_blank" rel="noreferrer noopener">Mark Cuban's Million-Dollar Advice To Teens: ‘If I Were 16 Again, I'd Start This Lucrative Side Hustle'</a>
He further recommended&nbsp;saving at least six months&#8217;&nbsp;worth of living expenses and conducting an in-depth study of the prospective business&#8217; industry.
Why It Matters: Cuban&#8217;s advice comes at a time when many are grappling with job losses and financial instability due to the ongoing pandemic. 
His success story serves as a beacon of hope and inspiration for aspiring entrepreneurs. His emphasis on preparedness and research highlights the importance of strategic planning in business. 
His journey from a crowded apartment to a billionaire&#8217;s lifestyle is a testament to the power of resilience and determination in the face of adversity.
Read Next
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Mark Cuban's Success Mantra: 'If You've Got Nothing, It's The Perfect Time To Start A Business'

Maye Musk is proving that reinvention and resilience can open doors, no matter your age or industry. Known primarily as <a href="https://www.benzinga.com/startups/24/12/42381822/elon-musks-mom-maye-says-she-likes-to-sit-in-on-meetings-with-her-son-and-ramaswamy-says-wealthy-and-billionaire-are-degrading-words">Elon Musk's mother</a>, Maye has carved her path as a model, author and dietitian with a thriving presence on the Chinese social media platform Xiaohongshu – often dubbed "RedNote" by English speakers, but also Douyin and Weibo.&nbsp;
As <a href="https://www.benzinga.com/25/01/43035577/nio-ceo-welcomes-tiktok-users-to-rednote-amid-us-ban-concerns">TikTok users look for new platforms</a> due to <a href="https://www.benzinga.com/general/social-media/25/01/43049496/as-tiktok-faces-us-ban-vpn-searches-skyrocket-800-will-workarounds-work-experts-weigh-in">possible bans in the U.S.</a> and other countries, Maye's rise on Xiaohongshu shows how people and businesses can use these platforms to grow.
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<h2 class="wp-block-heading">A New Kind of Influencer</h2>
At 76, Maye Musk is not your typical influencer. With more than 577,000 followers on Xiaohongshu, she publishes various lifestyle content, such as postings about travel, wellness and cultural appreciation, as The Guardian recently reported. Her captions, like "Feel the oriental aesthetics" and "Let's review the wonderful experience in 2024," resonate with her audience, who see her as a role model for aging gracefully and embracing new challenges.
Interestingly, she has reportedly been compared to figures like Henry Kissinger for fostering goodwill between cultures, showing her strong impact in China.
Maye's popularity matches a trend in China called "silver influencers." These are older people who inspire younger generations, like Millennials and Gen Z. Most of Maye's followers are young women who admire her independence, style and strength.
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Maye's influence extends beyond social media. In recent years, she's become a global ambassador for brands like Oppo, AISE Baobao and Fila, attending high-profile events in China's fashion and luxury sectors. She has walked in fashion shows for JNBY and attended events for brands like Moncler alongside stars like Rihanna and A$AP Rocky.
Her endorsements highlight the business potential of tapping into China's consumer market. With <a href="https://www.benzinga.com/news/global/24/12/42737037/tesla-shanghai-megafactory-starts-trial-production-seven-months-after-breaking-ground">Tesla's largest factory in Shanghai</a> and <a href="https://www.benzinga.com/24/12/42637260/elon-musk-accused-of-bullying-republicans-to-scrap-us-china-investment-safeguards-to-protect-teslas-interests">Elon Musk's strong ties to the country</a>, Maye's rising popularity complements her son's business interests, fostering goodwill for the Musk brand.
<h2 class="wp-block-heading">A Bestselling Author in China</h2>
Maye's book, A Woman Makes a Plan, has also found a receptive audience in China. Its Chinese edition has been described as a bestseller, with readers praising her life story of overcoming adversity and thriving in multiple careers. Her narrative – from surviving an abusive marriage to raising three successful children and building her career – strikes a chord in a culture that values perseverance and self-reliance.
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<h2 class="wp-block-heading">Lessons for Business and Finance</h2>
Maye's success on Xiaohongshu provides valuable insights for businesses and entrepreneurs. As TikTok faces potential bans in some countries, diversifying onto platforms like Xiaohongshu can help safeguard and expand reach, particularly in lucrative markets like China. Maye's posts emphasize the importance of authenticity, showing how sharing personal stories and values can foster deeper connections with audiences.
The rise of "silver influencers," like Maye, reveals the untapped potential of older demographics in marketing. Including diverse age groups in campaigns can broaden a brand's appeal and impact. Additionally, Maye's embrace of Chinese culture – from celebrating festivals to appreciating infrastructure – has strengthened her relatability and appeal in the local market.
<h2 class="wp-block-heading">A New Era of Influence</h2>
As some TikTok creators migrate to Xiaohongshu amid uncertainty, Maye Musk's flourishing presence demonstrates the platform's viability for global influencers and businesses. Her ability to connect with young audiences while staying true to her brand is a master class in adaptability and innovation – qualities any entrepreneur or marketer can learn from.
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Elon Musk's Mom Maye – Model, Author And 'International Dietitian' – Is A Sensation On RedNote As TikTokers Flee To The Chinese Platform

In a surprising revelation, Jeffrey Epstein, the disgraced financier, was allegedly offered a plea deal <a href="https://www.benzinga.com/news/24/11/41703154/michael-wolff-on-donald-trump-jeffrey-epstein-relationship">by federal prosecutors</a>.
What Happened: The deal was contingent on Epstein providing information that could potentially lead to the impeachment of President-elect Donald Trump. This claim comes from Epstein&#8217;s former cellmate.
Epstein&#8217;s ex-cellmate, Nicholas Tartaglione, made the startling claim that Epstein was given an opportunity to plead guilty to a lesser charge in exchange for information against Trump. 
According to the report <a href="https://nypost.com/2025/01/18/us-news/feds-offered-jeffrey-epstein-a-deal-for-dirt-on-trump-ex-cellmate/">by</a> The New York Post, Tartaglione, a former Westchester cop and convicted murderer, was Epstein&#8217;s cellmate at the Metropolitan Correctional Center in Manhattan a few weeks before Epstein&#8217;s death in August 2019.
According to Tartaglione, Epstein disclosed the details of the deal after a meeting with federal prosecutors. 
Epstein was quoted as saying, &#8220;They told me they&#8217;d&nbsp;let me plead out something&nbsp;small, and I&#8217;ll&nbsp;do just a couple of&nbsp;years in a camp, if&nbsp;I can give them something&nbsp;on Trump to get him&nbsp;impeached.&#8221;
"He says, but the government told me I don't have to prove what I say about Trump, as long as Trump's people can't disprove it," Tartaglione told the outlet adding that Epstein considered "making stuff up" to save his skin. 
Also Read: <a href="https://www.benzinga.com/news/24/05/38630738/jeffrey-epsteins-second-black-book-is-up-for-sale-and-it-contains-the-names-of-over-200-previously-u">Jeffrey Epstein&#8217;s Second &#8216;Black Book&#8217; Is Up For Sale — And It Contains The Names Of Over 200 Previously Undisclosed People, Including Carl Icahn</a>
Epstein, who was facing a slew of charges&nbsp;including sex trafficking of minors&nbsp;and sexual exploitation, was found dead in his cell in August 2019. His death has been a hotbed of controversy and speculation.
Tartaglione also shared that Epstein confessed he didn&#8217;t have any significant information about Trump. Epstein reportedly told Tartaglione that his relationship with Trump was purely social and they were not friends. 
Tartaglione further claimed that Epstein contemplated fabricating information to save himself.
No other source has confirmed the allegations made by Tartaglione. Representatives for Manhattan federal prosecutors have&nbsp;declined to comment on these claims.
Why It Matters: This revelation, if true, could add a new dimension to the Epstein case and the controversies surrounding President Trump. It raises questions about the lengths prosecutors were willing to go to gather information against Trump. 
However, with Epstein&#8217;s death and the lack of any other source to confirm these allegations, the truth of these claims remains uncertain.
Read Next
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Jeffrey Epstein Allegedly Offered Plea Deal In Exchange For Trump Info: 'If I Can Give Them Something On Trump To Get Him Impeached'

Sherpa, a highly followed crypto analyst, has forecasted a significant surge for the altcoin Hyperliquid (CRYPTO: HYPE). 
What Happened: In a <a href="https://x.com/AltcoinSherpa/status/1880248083956789654">post</a> on X, Sherpa shared his bullish perspective on Hyperliquid. The crypto analyst anticipates that HYPE, a utility token of the decentralized open financial system, could surge by at least 116% from its current level before the end of this cycle.
Despite seeing potential in HYPE, Sherpa advises his followers to gradually scale in their positions. He also mentioned, &#8220;Not one to give you&nbsp;a 10x at these current&nbsp;levels for this cycle in&nbsp;my opinion but could still&nbsp;be a safe one to&nbsp;hold.&#8221;
Last month, the altcoin&nbsp;earned $26.5 million in USDC revenue through platform fees and ticker auctions.
Regarding XRP, Sherpa advises patience, noting that it&#8217;s&nbsp;not at an ideal level&nbsp;for long entries. When it comes to Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>), Sherpa sees strength in the altcoin&nbsp;on the weekly time frame, predicting it could continue to rise if other first-generation altcoins appreciate.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39125451/crypto-trader-says-these-two-meme-coins-are-set-to-spike-and-neither-of-them-are-dogecoin-">Crypto Trader Says These Two Meme Coins Are Set To Spike — And Neither Of Them Are Dogecoin Or Shiba Inu</a>
Lastly, Sherpa remains optimistic about Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>),&nbsp;the largest memecoin by market&nbsp;cap. He suggests that DOGE could trade within a range for a&nbsp;while before revisiting its&nbsp;42-month high of around $0.485.
Why It Matters: Sherpa&#8217;s predictions are significant given his large following and the current volatile nature of the crypto market. His bullish outlook on Hyperliquid could potentially influence other traders and investors. 
His cautionary advice on XRP and optimism for Cardano and Dogecoin also provide valuable insights for those navigating the crypto market. 
However, as always, investors should conduct their own research and consider multiple perspectives before making investment decisions.
Read Next
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$ADA

Forget Dogecoin And Shiba Inu - This Altcoin Expected To Skyrocket By 116% Before End Of This Cycle

German opposition leader Friedrich Merz, who is seen as the frontrunner to become the country&#8217;s next chancellor, said that Donald Trump&#8216;s second term will provide <a href="https://www.benzinga.com/markets/eurozone/25/01/43061813/german-voters-head-to-polls-to-tackle-immigration-economic-stagnation" target="_blank" rel="noreferrer noopener">more clarity for the European Union</a>.
Merz made the comments during a meeting in Berlin with key conservative EU figures, including Manfred Weber, the head of the European People&#8217;s Party (EPP), the largest group in the European Parliament, reports Reuters.
While Merz views Trump&#8217;s predictability as beneficial for European planning, German Chancellor Olaf Scholz has recently <a href="https://www.benzinga.com/markets/25/01/42935683/scholz-warns-of-tension-with-trump-as-border-integrity-and-nato-spending-loom-over-germanys-election" target="_blank" rel="noreferrer noopener">expressed concerns about Trump&#8217;s foreign policy</a>.
Scholz has specifically raised alarms over Trump&#8217;s rhetoric on border integrity, particularly his remarks about neighboring countries like Canada and Greenland. Scholz stressed that the inviolability of borders is a core principle of Western values and warned that no smaller country should fear its larger neighbors.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/cryptocurrency/25/01/43074163/exclusive-will-bitcoin-dogecoin-shiba-inu-or-xrp-gain-more-on-trumps-inauguration-day-41-pick-this-crypto" rel="noreferrer noopener">EXCLUSIVE: Will Bitcoin, Dogecoin, Shiba Inu Or XRP Gain More On Trump&#8217;s Inauguration Day? 41% Pick This Crypto</a>
Merz, on the other hand, emphasized the importance of European unity, particularly in relation to the U.S, Reuters adds.
He argued that Europe must present a united front to be respected globally and to strengthen its position within the Western alliance.
With Trump&#8217;s inauguration imminent, Merz suggested that his hawkish policies could present opportunities for Europe, especially in terms of joint military procurement.
As Germany&#8217;s conservative opposition leader, Merz is poised to succeed Scholz after the collapse of Scholz&#8217;s coalition government over economic disagreements.
Merz believes that Trump&#8217;s second term could accelerate efforts to bring European power together, allowing Europe to act more cohesively on the global stage.
The contrasting views between Merz and Scholz highlight the complex challenges European leaders face as they navigate a changing transatlantic relationship under a returning Trump administration.
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Image: Shutterstock

German Opposition Leader Sees Trump's Return as a Clarifying Force for EU

JPMorgan Chase&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) has reportedly spent an enormous $2.14 billion on legal costs over the last two years.
What Happened: The bank&#8217;s 8-K <a href="https://data.fca.org.uk/artefacts/NSM/Portal/NI-000110939/NI-000110939.pdf">filings</a> with the U.S. Securities and Exchange Commission indicate that it expended $1.4 billion in 2023 and $740 million in 2024 on legal disputes.
These expenses encompass a significant settlement with the SEC, where JPMorgan disbursed&nbsp;$151 million in combined civil&nbsp;penalties and voluntary payments to&nbsp;investors.
Recently, the&nbsp;Consumer Financial Protection Bureau (CFPB)&nbsp;initiated a lawsuit against JPMorgan,&nbsp;along with Bank of America,&nbsp;Wells Fargo, and Zelle, for alleged failures to&nbsp;address widespread fraud and unauthorized&nbsp;transactions on the Zelle platform.
Also Read: <a href="https://www.benzinga.com/news/25/01/42965086/peter-lynchs-money-making-advice-when-things-go-from-terrible-to-semi-terrible-to-ok-you-can-make-a">Peter Lynch&#8217;s Money-Making Advice: &#8216;When Things Go From Terrible to Semi-Terrible to OK, You Can Make a Lot of Money&#8217;</a>
Since 2000,&nbsp;JPMorgan has paid more than&nbsp;$40 billion in fines and&nbsp;settlements due&nbsp;to anti-competitive practices, securities abuses, and other violations, as per the public Violation Tracker.
Why It Matters: Despite the hefty legal expenses, JPMorgan managed to report a profit of $14 billion in Q4 2024, marking&nbsp;its largest-ever annual profit at&nbsp;$58.5 billion. This indicates the bank&#8217;s resilience and ability to weather financial storms.
The lawsuit filed by the CFPB also puts a spotlight on the bank&#8217;s ability to manage fraud and unauthorized transactions, especially on digital platforms like Zelle. 
As digital transactions continue to rise, the ability to effectively manage and prevent fraud will be critical for maintaining customer trust and loyalty.
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