For many Americans across the country, today (Thursday) means meals with families to <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/23/11/35930411/is-the-stock-market-closed-on-thanksgiving-traders-prepare-for-a-holiday-break" target="_blank" rel="noreferrer noopener">celebrate the Thanksgiving holiday</a>.



One topic of conversation that has likely come up in recent years at holiday family gatherings is cryptocurrency. Here&#8217;s a look at how crypto has performed since last year&#8217;s Thanksgiving.



What Happened:&nbsp;The Thanksgiving Day holiday for many includes traditions such as family, food <a href="https://www.benzinga.com/general/sports/24/11/42226470/heres-why-the-detroit-lions-dallas-cowboys-always-have-thanksgiving-day-nfl-games">and football</a>. Dinner conversations could center on school, work, politics and potentially investments like stocks&nbsp;<a href="https://www.benzinga.com/money/crypto" target="_blank" rel="noreferrer noopener">and cryptocurrencies.</a>



The cryptocurrency markets were riding high in November 2021 when Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) hit then all-time highs and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) was also up significantly from the start of the year.



Family members discussing cryptocurrency that year were likely either supporting a further move up or questioning if investments in crypto were risky.



Family members who tried to talk their relatives into buying cryptocurrencies that year have likely received some questions from relatives in the past year or so with the sector facing high volatility and items such as cryptocurrency bankruptcies sending the price of major cryptocurrencies down in 2022.



As&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/22/11/29846094/so-you-told-your-family-to-invest-in-bitcoin-dogecoin-and-ethereum-at-thanksgiving-last-ye" target="_blank" rel="noreferrer noopener">Benzinga previously shared</a>, investing in Bitcoin, Dogecoin and Ethereum on Thanksgiving Day 2021 would have been down 72.3%, 64.6% and 72.5%, respectively a year later.



A $3,000 investment split between the three leading cryptocurrencies would have been down 69.8% to $905.69 from Thanksgiving 2021 to Thanksgiving 2022.



Family members who were convinced to buy cryptocurrency on Thanksgiving Day 2022 or Thanksgiving Day 2023 might have a more favorable attitude towards their crypto friendly relatives.



Read Also: <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42224605/10-insights-about-the-us-economy-for-thanksgiving-dinner-talk">10 Insights About The US Economy For Thanksgiving Dinner Talk</a>



Investing $1,000 in BTC, DOGE, ETH: If a relative did end up convinced and decided to invest in cryptocurrency for the first time on Thanksgiving Day 2023, they have been blessed with a good entry point.



Here's a look at how investments would have fared over the last nearly one-year period, investing $1,000 in each of Bitcoin, Dogecoin and Ethereum.



A $1,000 investment in Bitcoin on Thanksgiving 2023 could have purchased 0.0266 BTC. The investment would be worth $2,563.18 today based on a price of $96,360.02 at the time of writing. The investment would be up 156.3% since the holiday last year.



A $1,000 investment in Dogecoin on Thanksgiving 2023 could have purchased 13,097.92 DOGE. The investment would be worth $5,261.43 today based on a price of $0.4017 at the time of writing. The investment would be up 426.1% since the holiday last year.



A $1,000 investment in Ethereum on Thanksgiving 2023 could have purchased 0.4789 ETH. The investment would be worth $1,742.85 today based on a price of $3,639.28 at the time of writing. The investment would be up 74.3% since the holiday last year.



In total, a $3,000 investment in the three well-known and discussed cryptocurrencies would be worth $9,567.46 today, up 218.9%



For comparison a $1,000 investment in the&nbsp;SPDR S&amp;P 500 ETF Trust,&nbsp;which tracks the S&amp;P 500 stock market index, would be worth $1,311.44 and up 31.1% from Thanksgiving 2023 to Thanksgiving 2024.



The returns from 2023 to now outpaced the gains from both 2021 to 2022 and 2022 to 2023.



Last year, Benzinga shared that the returns of Bitcoin, Dogecoin and Ethereum from Thanksgiving 2022 to Thanksgiving 2023 would have been up 123.3%, down 9.2% and up 70.5% respectively. The $3,000 investment from Thanksgiving 2022 to Thanksgiving 2023 would have been worth $4,846.24 and up 61.5%.



The huge returns over the last year could have crypto investors smiling plenty at the Thanksgiving Day dinner table Thursday.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/general/education/24/11/42125880/if-you-bought-1-worth-of-bitcoin-at-launch-heres-how-much-youd-have-today-2">If You Bought $1 Worth Of Bitcoin At Launch, Here&#8217;s How Much You&#8217;d Have Today</a></li>
</ul>



This article was previously published by Benzinga and has been updated.

Cryptocurrency

Education

$BTC

$DOGE

$ETH

So You Told Your Family To Invest In Bitcoin, Dogecoin, Ethereum At Thanksgiving Last Year? Here's How Much They Now Have (And Why You Might Be Invited Back To The Adult Table)

The New York Stock Exchange (NYSE) and the bond market will <a href="https://www.nyse.com/markets/hours-calendars#nyse">be closed</a> on Thursday, Nov. 28 for Thanksgiving. Markets will re-open at 9:30 am ET for regular trading on Black Friday, but the stock market will close early at 1 p.m. ET and the bond market will <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42224605/10-insights-about-the-us-economy-for-thanksgiving-dinner-talk">lose at 2 p.m. ET</a>.



What To Know: Historically, markets perform well on Black Friday, with the S&amp;P 500 closing higher 69% of the time since 1960, according to data from Macrotrends. Investors looking to invest in the broader market can look to the SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) which tracks the S&amp;P 500 index.&nbsp;



Read Next: <a href="https://www.benzinga.com/news/retail-sales/24/11/42170721/thanksgiving-dinner-gobbles-up-19-more-cash-this-year-many-holiday-hosts-already-regret-their-decision">Thanksgiving Dinner Gobbles Up 19% More Cash This Year, Many Holiday Hosts &#8216;Already Regret Their Decision&#8217;</a>



The retail sector often outperforms the broader market around Black Friday. Investors can focus on retail sector ETFs like the SPDR S&amp;P Retail ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XRT#NYSE">XRT</a>) or individual retailer's stocks like Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) or Walmart, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) to capture the momentum created by one of the busiest shopping days of the year.&nbsp;



Upcoming Market Holidays:&nbsp;



<ul>
<li>Nov. 28, 2024 &#8211; Thanksgiving Day, markets closed.&nbsp;&nbsp;</li>



<li>Nov. 29, 2024 &#8211; Black Friday, stock market closes at 1 p.m. ET, bond market closes at 2 p.m. ET.&nbsp;</li>



<li>Dec. 24, 2024 &#8211; Christmas Eve, stock market closes at 1 p.m. ET, bond market closes at 2 p.m. ET.</li>



<li>Dec. 25, 2024 &#8211; Christmas Day, markets closed.&nbsp;</li>



<li>Dec. 31, 2024 &#8211; New Year's Eve,&nbsp; stock market regular hours, bond market closes at 2 p.m. ET.</li>



<li>Jan. 1, 2025 &#8211; New Year's Day, markets closed.&nbsp;</li>
</ul>



Read More: <a href="https://www.benzinga.com/news/retail-sales/24/11/42225933/black-friday-cyber-monday-shopping-set-to-break-sales-records">Black Friday, Cyber Monday Shopping Set To Break Sales Records</a>



Image: Reto Keller from Pixabay

Equities

News

Bonds

Markets

Movers

AMZN

Is The Stock Market Open On Thanksgiving?

Billionaire entrepreneur and &#8220;Shark Tank&#8221; host Mark Cuban has offered his services to Elon Musk and Vivek Ramaswamy&#8217;s <a href="https://www.benzinga.com/topic/department-of-government-efficiency">Department of Government Efficiency (DOGE)</a> in a bid to cut federal healthcare costs.



What Happened: On Wednesday, Cuban responded to a user on X, formerly Twitter, who asked if his company, Cost Plus Drugs, could be integrated into government healthcare programs to help cut costs.



In response to the user, Cuban said "Both know how to reach me," referring to Musk and Ramaswamy.



The user's request was about DOGE, an agency led by Musk and Ramaswamy, which aims to drive cost-saving reforms within the federal bureaucracy.



Musk and Ramaswamy, through DOGE, are focused on achieving large-scale reforms within government agencies



See Also: <a href="https://www.benzinga.com/personal-finance/24/11/42193386/mark-cuban-shared-600-a-month-dallas-apartment-with-5-guys-and-slept-on-the-living-room-floor-i-had-nothing-so-i-had-nothing-to-lose">Mark Cuban Shared $600 A Month Dallas Apartment With 5 Guys And Slept On The Living Room Floor</a>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Both know how to reach me. <a href="https://t.co/Jl9gYpZAYs">https://t.co/Jl9gYpZAYs</a>&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1861524965750661386?ref_src=twsrc%5Etfw">November 26, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Why It Matters: With healthcare costs continuing to rise, especially prescription drug prices, there is growing interest in alternatives to the traditional pharmaceutical distribution system.



Cuban's pharma company, launched in 2022, was founded to reduce the cost of prescription drugs by <a href="https://www.benzinga.com/news/23/02/30672271/mark-cuban-aims-to-disrupt-a-365-billion-industry-with-the-only-startup-that-bears-his-name">cutting out intermediaries</a> in the pharmaceutical supply chain. 



The company's transparent pricing model provides consumers with generic medications at a much lower cost than traditional methods.



If DOGE partners with Cuban's company, it could potentially bring these cost-saving measures to federal healthcare programs, such as Medicare and Medicaid.



Last year in June, a social media user questioned Cuban why his company, Cost Plus Drugs, doesn't offer Ivermectin, citing a stark price disparity between Africa and the U.S. 



At the time, Musk chimed in saying, "Good question," to which Cuban responded, explaining that his company couldn't secure a competitive price for Ivermectin but offered Hydroxychloroquine as an alternative.



He also <a href="https://www.benzinga.com/news/23/12/36231355/mark-cubans-cost-plus-drugs-gets-medication-elon-musk-asked-about-6-months-ago-still-ready-to-save-t">suggested Musk explore Cost Plus Drugs</a> to save his employees and companies significant money.



Six months later, Cuban updated Musk, announcing that Ivermectin was now available on Cost Plus Drugs, reiterating the potential savings for Tesla Inc., SpaceX, and X employees, and inviting Musk's team to reach out for collaboration.



For anyone hoping to invest in a <a href="https://www.benzinga.com/news/24/01/36836747/mark-cuban-talks-elon-musk-dei-health-care-investments-buying-twitter-and-more-in-an-x-ama">future IPO of Cost Plus Drug Company</a>, Cuban earlier this year stated that it's &#8220;Not going to happen. Maximizing profits is not our goal.&#8221;



According <a href="https://www.fortunebusinessinsights.com/prescription-drugs-market-102709">to</a> Fortune Business Insights, in 2023, the global prescription drug market&#8217;s value reached approximately $1,162.61 billion, with North America contributing a significant share, estimated at $576.35 billion.



The iShares U.S. Healthcare Providers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHF#NYSE">IHF</a>) ended Wednesday&#8217;s session up by 0.24% at $54.40. Year-to-date, it has gained 1.8%, according to <a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.



Read Next:



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<li><a href="https://www.benzinga.com/trading-ideas/movers/24/11/42169194/joby-gets-toyotas-500m-dollar-lift-evtol-pioneer-making-new-highs?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Joby Gets Toyota's $500M Dollar Lift: eVTOL Pioneer Making New Highs</a></li>
</ul>



Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.



Photos courtesy: Shutterstock

Health Care

Politics

Will Mark Cuban Join Rivals Elon Musk, Vivek Ramaswamy's DOGE? 'Shark Tank' Host Says 'Both Know How To Reach Me'

Shares of Trump Media &amp; Technology Group Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) have fallen by 11.36% since the U.S. presidential elections. Technical analysis using simple moving averages suggests that the stock price is neither increasing nor decreasing but oscillating within a defined range.



Stock Movement



After the shares zoomed post-election it has now fallen below the pre-election level. The Donald Trump-owned company shares are down 39% in the last six months and 36% in the last month.



However, it has outperformed the Nasdaq Composite and Nasdaq 100 and has risen by 74.44% year-to-date, whereas the two indices rose by 29% and 25% respectively, in the same period.



As of Wednesday&#8217;s close, the shares were down 0.23% at $30.44 apiece, which fell further by 0.06% to $30.42 per share during the after-hours. The share price remains 161% below its 52-week high of $79.44 apiece and 35% above its 52-week low of $22.55 per share.



Also read: <a href="https://www.benzinga.com/markets/equities/24/11/42231266/gop-megadonor-ken-griffin-slashes-citadels-palantir-stake-by-91-bets-big-on-nvidia-as-jensen-huang-led-company-rises-over-180-in-2024">GOP Megadonor Ken Griffin Slashes Citadel&#8217;s Palantir Stake By 91%, Bets Big On Nvidia As Jensen Huang-Led Company Rises Over 180% In 2024</a>



Technical Analysis



From a technical perspective, the analysis of daily moving averages indicates a potential period of consolidation.



<a href="https://pro.benzinga.com/dashboard">According to Benzinga pro data</a>, Wednesday's after-hour price of $30.42 per share is just below its 200-day simple moving average of $30.45 apiece. On the other hand, the share price is just slightly above its 20-day simple moving average of $30.38 per share. The stock&#8217;s eight and 50-day averages are the same at $30.39 apiece, signaling indecisiveness.



The relative strength index at 55.56 level also indicates a neutral stance, representing neither overbought nor oversold conditions.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28072118/DJT-chart-1024x576.png" alt="" class="wp-image-669060" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28072118/DJT-chart-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28072118/DJT-chart-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28072118/DJT-chart-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28072118/DJT-chart-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28072118/DJT-chart.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



DJT Options Activity



<a href="https://www.benzinga.com/premium/ideas/getting-started-with-benzinga-options/">Benzinga&#8217;s analysis of options</a> history for Trump Media revealed <a href="https://www.benzinga.com/insights/options/24/11/42196584/trump-media-technology-unusual-options-activity">17 unusual trades</a>. Out of all the trades spotted, seven were puts, with a value of $836,390, and 10 were calls, valued at $601,794.



Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $10.0 to $100.0 for Trump Media &amp; Technology over the recent three months.



Trump holds a 57% stake in Trump Media &amp; Technology Group. Trump Media operates a social media firm Truth Social. The company, via its social media platform, appears to be wading into the <a href="https://www.benzinga.com/general/social-media/24/11/42124007/trump-media-trademark-filing-for-truthfi-hints-at-potential-digital-wallets-asset-trading">crypto payments business</a> as it filed a trademark application with the U.S. Patent and Trademark Office for the name "TRUTHFI."



<ul>
<li>Read next: <a href="https://www.benzinga.com/insights/options/24/11/42196584/trump-media-technology-unusual-options-activity">Europe&#8217;s Top Central Banker Says &#8216;Not To Retaliate, But To Negotiate&#8217; To Avoid Trump Trade War</a></li>
</ul>



Image via Wikimedia Commons

Tech

General

Trump Media (DJT) Shares Fall Over 11% Post-Election, Oscillates Around Key Moving Averages: Technical Indicators Point Toward Period Of Consolidation

Jersey Mike&#8217;s founder, Peter Cancro, who <a href="https://www.benzinga.com/markets/24/11/42167861/blackstone-takes-a-bite-out-of-jersey-mikes-with-8-billion-investment">just secured an $8 billion deal with private equity giant Blackstone</a>, has built an impressive real estate portfolio alongside his sandwich empire. The transaction, which maintains Cancro&#8217;s leadership role while selling a majority stake to Blackstone, has catapulted him to 388th place on <a href="https://www.benzinga.com/tech/24/11/41843591/jeff-bezos-net-worth-soars-to-record-228b-closing-in-on-elon-musks-top-spot-as-amazon-stock-rises-after-trump-wins-white-house">Bloomberg&#8217;s Billionaire Index</a> with an estimated net worth of $7.55 billion.



Don't Miss:



<ul>
<li>Commercial real estate has historically outperformed the stock market, and<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!</a></li>



<li>These five entrepreneurs are worth $223 billion –<a href="https://www.benzinga.com/money/arrived-homes-private-credit-fund"> they all believe in one platform that offers a 7-9% target yield with monthly dividends</a></li>
</ul>



Cancro&#8217;s property holdings show his transition from a Jersey Shore entrepreneur to a Manhattan power player. According to Realtor.com, in 2014, he and his wife Tatiana purchased a four-unit condominium in Manhattan&#8217;s Lenox Hill neighborhood for $15.68 million. The residence, located in the landmark Marquand building steps from Central Park, has a private elevator, wood-burning fireplace and sprawling primary suite within its Beaux-Arts Revival architecture.



While maintaining deep ties to his New Jersey roots, Cancro has established a presence in Florida&#8217;s luxury real estate market. Property records show multiple units in a prestigious Bal Harbour building, including two two-bedroom apartments and a larger three-bedroom residence spanning 3,128 square feet.&nbsp;



See Also: <a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy. The beachfront properties offer access to St. Regis Hotel amenities, including 24-hour room service, housekeeping and private pool facilities, Realtor said.



At age 14, Cancro began working at Mike&#8217;s Subs in Point Pleasant, New Jersey. Three years later, with a $125,000 loan from his football coach, he purchased the store – despite being too young to legally operate the meat slicer.



That original location, which Cancro still personally owns along with another Point Pleasant store, grew into a franchise empire of approximately 3,000 locations, generating over $3 billion in annual revenue, according to a report issued by Business Insider. The Blackstone deal includes provisions for further expansion to 4,000 stores, with an earnout agreement tied to this growth target.



Trending: Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.26/share!</a>



Now ranking ahead of Netflix&#8217;s Reed Hastings on the Bloomberg Billionaire Index and approaching Mark Cuban&#8217;s $7.9 billion net worth, Cancro&#8217;s real estate investments mirror the explosive growth of his sandwich business. According to company statements, the deal promises to accelerate Jersey Mike&#8217;s expansion &#8220;across and beyond the U.S. market&#8221; while investing in technology and digital transformation.



&#8220;We believe we are still in the early innings of Jersey Mike&#8217;s growth story,&#8221; Cancro said following the Blackstone announcement, suggesting his property portfolio might continue expanding alongside his sandwich empire.



Read Next:



<ul>
<li>Unlock the hidden potential of commercial real estate —<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> This platform allows individuals to invest in commercial real estate offering a 12% target yield with a bonus 1% return boost today!</a></li>



<li>This Jeff Bezos-backed startup will allow you to <a href="https://www.benzinga.com/money/bezos-landlord-100-dollars">become a landlord in just 10 minutes, with minimum investments as low as $100 for properties like the Byer House from Stranger Things. </a></li>
</ul>

Real Estate

$8 Billion Deal, Luxe Apartments and A Central Park Condo: The Property Portfolio Of Jersey Mike's Founder

American astrophysicist Neil deGrasse Tyson <a href="https://www.benzinga.com/news/24/10/41546631/neil-degrasse-tyson-calls-elon-musks-mars-mission-a-space-frontier-days-after-his-comments-on-spacex">dismissed</a> SpaceX CEO Elon Musk&#8216;s ambitions to send people to Mars, saying that unless there is a push caused by a shift in geopolitics, it will not be possible as a pure exploration project.



What Happened: &#8220;I have strong views on that. My read of the history of space exploration is such that we do big, expensive things only when it&#8217;s geopolitically expedient, such as we feel threatened by an enemy,&#8221; Tyson said in an <a href="https://www.youtube.com/watch?v=WMzgXHhKarY">interview</a> with Bill Maher. 



The trip to Mars won&#8217;t happen because Musk believes it&#8217;s the next big thing to do, Tyson said, while adding that it would be difficult to gain investment for the Starship project given its high costs and low return on investment. 



&#8220;For him to just say, let&#8217;s go to Mars because it&#8217;s the next thing to do. What is that venture capitalist meeting look like? &#8216;So, Elon, what do you want to do?&#8217; &#8216;I want to go to Mars?&#8217; &#8216;How much will it cost?&#8217; &#8216;$1 trillion.&#8217; &#8216;Is it safe?&#8217; &#8216;No. People will probably die.&#8217; &#8216;What&#8217;s the return on the investment?&#8217; &#8216;Nothing.&#8217; That&#8217;s a five-minute meeting. And it doesn&#8217;t happen,&#8221; he said.



The U.S. will get people to Mars only if there is a geopolitical push like a memo from China that it is planning to put up a military base on Mars, according to Tyson. In that case, the U.S. will aim to get to Mars in ten months and NASA will get the spacecraft from SpaceX for the purpose, he said. 



&#8220;So I don&#8217;t see it happening until governments judge that it&#8217;s geopolitically in our interest,&#8221; Tyson said. &#8220;I got nothing against Mars.&#8221;



According to Tyson, instead of developing Mars to be liveable once Earth becomes unlivable, it would be better to invest in Earth itself.



Why It Matters: Musk, meanwhile, dismissed Tyson. 



&#8220;Wow, they really don&#8217;t get it. Mars is critical to the long-term survival of consciousness. Also, I&#8217;m not going to ask any venture capitalists for money. I realize that it makes no sense as an investment. That&#8217;s why I&#8217;m gathering resources,&#8221; he wrote.



<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">Wow, they really don't get it. Mars is critical to the long-term survival of consciousness. Also, I'm not going to ask any venture capitalists for money. I realize that it makes no sense as an investment. That's why I'm gathering resources. <a href="https://t.co/XVCpHKlusD">https://t.co/XVCpHKlusD</a>&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1860322925783445956?ref_src=twsrc%5Etfw">November 23, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Musk has previously said that SpaceX&#8217;s satellite internet segment called Starlink will fund his vision to travel to Mars aboard the company&#8217;s Starship launch vehicle.



The Starship launch vehicle is currently in the development and testing phase. The company has conducted six test flights of the vehicle to date but without a payload. 



"…I would not be surprised if we fly 400 Starship launches in the next four years,&#8221; SpaceX President and COO&nbsp;Gwynne Shotwell&nbsp;<a href="https://www.benzinga.com/general/space/24/11/42105704/spacex-ceo-elon-musk-reveals-technical-glitch-that-led-company-to-drop-key-objective-of-starships-6th-test-flight" target="_blank" rel="noreferrer noopener">said at the Baron Investment Conference</a>&nbsp;in New York earlier this month.



SpaceX is a privately held company. Unlike Musk's publicly held EV company Tesla, SpaceX&nbsp;<a href="https://www.benzinga.com/24/11/42022150/spacex-to-launch-tender-offer-valuing-company-at-over-250-billion-report" target="_blank" rel="noreferrer noopener">does not divulge its financials</a>&nbsp;periodically. Shotwell said at the conference that the company will make "some money" on Starlink this year.



"We are going to make some money on Starlink this year. But ultimately I think Starship will be the thing that takes us over the top as one of the most valuable companies," she said.



Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/general/space/24/11/42183996/faa-invites-comments-on-increasing-spacexs-starship-launches-by-5x-to-25-next-year">FAA Invites Comments On Increasing SpaceX&#8217;s Starship Launches By 5X To 25 Next Year</a></li>
</ul>



Photos courtesy: Wikimedia and Shutterstock

SPACE

TSLA

Astrophysicist Neil deGrasse Tyson Dismisses Elon Musk's Mars Vision: SpaceX CEO Hits Back, Says 'They Really Don't Get It'

Christine Lagarde, the European Central Bank chief, has called on European leaders to engage in negotiations with Donald Trump to avoid a trade war. Lagarde emphasized the importance of cooperation over retaliation in response to Trump&#8217;s proposed tariffs.



What Happened: In her first interview since Trump&#8217;s re-election, Lagarde warned that a trade war could severely impact global economic growth. She stated that Europe should adopt a &#8220;cheque-book strategy&#8221; by purchasing more U.S. goods, such as liquefied natural gas and defense equipment, to mitigate potential conflicts, the Financial Times <a href="https://www.ft.com/content/24d5d526-b970-4e53-a262-9a678319ce23">reported</a> on Thursday.



Lagarde expressed concern over Trump&#8217;s threats of imposing up to 20% tariffs on non-Chinese imports, highlighting the risk to the EU&#8217;s trade surplus with the U.S. She argued EU needs "not to retaliate, but to negotiate" and that a retaliatory approach could lead to a detrimental tit-for-tat scenario.



See Also: <a href="https://www.benzinga.com/24/11/42206614/polygons-pol-token-outshines-bitcoin-ethereum-in-30-day-gains-top-analyst-anticipates-no-major-selling-pressure-in-days-ahead?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Crypto&#8217;s Next Mega-Rocket? Analyst Forecasts Insane 2725%-6600% Surge For This Coin</a>



The European Commission is currently evaluating its response options, which may include increasing U.S. export purchases and aligning more closely with U.S. trade policies. Lagarde&#8217;s comments reflect a shift in strategy, urging Europe to transform perceived threats into challenges that require proactive responses.



Why It Matters: The call for negotiation comes amid heightened tensions <a href="https://www.benzinga.com/24/11/42178994/trump-says-he-will-impose-25-tariffs-on-canada-mexico-on-first-day-of-office-and-extra-tariffs-on-china-until-they-pay-attention">following Trump&#8217;s announcement</a> of imposing a 25% tariff on imports from Canada and Mexico, citing border security concerns. This move has <a href="https://www.benzinga.com/24/11/42225506/canada-prepares-retaliatory-tariffs-as-trumps-threat-looms-analysts-warn-of-further-loonie-weakness">already prompted Canada</a> to consider retaliatory tariffs on U.S. goods. The potential for a trade war is further complicated by Trump&#8217;s additional tariff threats on Chinese imports, which he claims are necessary to address drug trafficking issues.



Moreover, companies like Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) are already reassessing their operations in Mexico due to the<a href="https://www.benzinga.com/24/11/42216863/nvidia-intel-suppliers-rethink-mexico-operations-amid-trumps-tariff-threat"> looming tariff threats</a>. These developments underscore the potential widespread economic impact of Trump&#8217;s trade policies, making Lagarde&#8217;s call for negotiation a critical step in preventing further economic disruption.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/24/11/42206056/bitcoin-ethereum-dogecoin-tumble-as-diamond-hands-lock-in-gains-analyst-anticipates-strong-buyback-pressure-to-follow-sell-pressure?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Tumble As &#8216;Diamond Hands&#8217; Lock In Gains: Top Analyst Anticipates BTC Rebound</a></li>
</ul>



Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.



Image via Flickr

INTC

NVDA

Europe's Top Central Banker Says 'Not To Retaliate, But To Negotiate' To Avoid Trump Trade War

James Howells might go down in history books as one of the unluckiest people ever, having discarded hundreds of millions of dollars in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) accidentally.



But a new twist in this decade-old bizarre saga revealed that it was not him but his ex-girlfriend who unintentionally threw the fortune away. 



What Happened: Halfina Eddy-Evans <a href="https://www.dailymail.co.uk/news/article-14117759/threw-away-569million-Bitcoin-fortune-council-tip.html">confessed</a> during&nbsp;a Monday interview with the Daily&nbsp;Mail&nbsp;that she threw away the&nbsp;hard drive containing 8,000 Bitcoin&nbsp;at the request of Howells. She was adamant that the loss was not her fault, as she did so at Howells&#8217; request.



Halfina said Howells &#8220;begged&#8221; her to dispose of some &#8220;unwanted belongings,&#8221; in a black sack, which, unknown to her, included the hard drive.



&#8220;I thought he should be running his errands, not me, but I did it to help out,&#8221; Howells said.



Halfina said that the blame for losing Bitcoins shouldn&#8217;t be fixed on her, though she hoped Howells would succeed in retrieving the drive. 



See Also:&nbsp;<a href="https://www.benzinga.com/24/11/42228264/crypto-analyst-flags-convertible-debt-induced-liquidation-risk-to-michael-saylors-microstrategy">Crypto Analyst Flags Convertible Debt-Induced Liquidation Risk To Michael Saylor&#8217;s MicroStrategy</a>



Why It Matters: This revelation added a new layer to the unfortunate story of Howells, who has been waging a long battle to recover his fortune. 



A Wales-based software engineer, Howells, <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41308908/man-who-accidentally-threw-hard-drive-containing-8-000-bitcoins-worth-half-a-billion-dolla">sued the Newport City Council </a>for approximately $647 million in damages for repeatedly denying his request to excavate the landfill site housing the discarded hard drive.



He has even assembled a team of specialists to excavate at no cost to the council and proposed giving the council 10% of the recovered coins' value.



The 8,000 Bitcoins would be worth $797 million at the all-time high price of 99,645 recorded recently and $765.9 million at the current market price of $95.736.86.



Read Next:&nbsp;



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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42229486/joe-rogan-hasnt-sold-his-bitcoins-for-over-a-decade-conviction-based-hodling-or-private-key-loss">Joe Rogan&#8217;s Bitcoin Pile Has Grown Over 30000% In Value, But He Hasn&#8217;t Sold: Conviction-Based HODLing Or Has The Podcast King Lost His Keys?</a></li>
</ul>



Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.



Image generated using Dall-E<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>

Remember James Howells Who Lost His Hard Drive With 8,000 Bitcoins Now Worth $760M? His Ex-Girlfriend Reveals It Was She Who Threw It Away

The cryptocurrency market embarked on a bullish run in 2024, with several coins netting exponential returns to their holders.



Meme coins, influenced by adorable characters and animals, have been at the forefront of this rally, with many of them soaring over 1000% since the beginning of the year.



What happened: Cat-themed cryptocurrency Popcat has been the best-performing cryptocurrency in 2024, exploding an eye-popping 16151% year-to-date.&nbsp;



The Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based token entered the $1 billion club riding on the rally, the only feline-themed digital asset to hit such a milestone.



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>YTD Gains +/-</td><td>Price (Recorded at 9:55 p.m. EDT)</td></tr><tr><td>Popcat (POP)</td><td>+16151.67%</td><td>$1.32</td></tr><tr><td>Peanut the Squirrel (CRYPTO: PNUT)</td><td>+2067.11%</td><td>$1.14</td></tr><tr><td>dogwifhat (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WIF</a>)</td><td>+1960.32%</td><td>$3.15</td></tr><tr><td>Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>)</td><td>+1314.79%</td><td>$0.00001962</td></tr></tbody></table></figure>



Next on the list was Peanut the Squirrel, a meme coin inspired by the late animal of the same name, which has exploded to a $1 billion capitalization in less than a month from its launch.



PNUT has surged over 2000%, becoming one of the fastest entrants to the $1 billion club. It has benefitted from the strong sentiment following the death of "Peanut,&#8221; a viral pet squirrel, who was <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41705004/peanut-the-squirrel-themed-meme-coins-surge-amid-social-media-outrage-over-celebrity-anima">confiscated and euthanized</a> by authorities.



See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42155055/crypto-analyst-bitcoin-poised-to-skyrocket-to-180k-and-eventually-top-1m">Crypto Analyst: Bitcoin Poised To Skyrocket To $180K and &#8216;Eventually&#8217; Top $1M</a>



Another Solana-based cryptocurrency dogwifhat has surged 1960% year-to-date, leapfrogging into the top 5 meme coins by market capitalization list.



Meanwhile, Pepe swelled 1314% in 2024, becoming the most successful Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)-based meme coin of 2024.&nbsp;



Blue-chip currencies like Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) have also multiplied returns this year, rising 360% and 149%, year-to-date.



The total meme coin market capitalization has expanded from $22.27 billion to $116.89 billion, a fivefold increase.



Photo by Igor Faun on Shutterstock



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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42205579/jim-cramer-says-bitcoin-and-ethereum-deserve-a-spot-in-your-portfolio-as-hedge-against-rising-us-debt-ive-liked-crypto-for-a-very-long-time">Jim Cramer Says Bitcoin And Ethereum &#8216;Deserve A Spot In Your Portfolio&#8217; As Hedge Against Rising US Debt: &#8216;I&#8217;ve Liked Crypto For A Very Long Time&#8217;</a></li>
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Trading Ideas

$PEPE

$SHIB

$SOL

$WIF

Dogs, Cats And Frogs — Crypto's Wildest Winners In 2024: The Unexpected Tokens Turning Pocket Change Into Fortunes

Mexican President Claudia Sheinbaum responded to U.S. President-elect Donald Trump in a letter published Tuesday, addressing the issue of the <a href="https://www.benzinga.com/markets/cannabis/24/03/37445551/overdose-crisis-worsens-the-rise-of-fentanyl-smoking-leads-to-even-more-deaths-than-shooting-her">fentanyl crisis</a> and broader drug-related challenges.



Her message emphasized cooperation over confrontation — whereas Trump has a <a href="https://www.benzinga.com/news/24/10/41563454/trumps-escalating-threats-to-rivals-100-and-counting">penchant for the latter</a>.



&#8220;Neither threats nor tariffs will solve the migration or the drug abuse phenomenon in the US,&#8221; Sheinbaum <a href="https://x.com/Claudiashein/status/1861558804652999130">said</a>, calling for collaborative solutions to mitigate the escalating drug crisis.



<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">Migración y consumo de fentanilo no se atenderán con amenazas ni aranceles. México avanza con resultados en acciones integrales; la cooperación y el entendimiento son necesarios. El diálogo es el camino. <a href="https://t.co/mwXkhUCwbL">pic.twitter.com/mwXkhUCwbL</a>&mdash; Claudia Sheinbaum Pardo (@Claudiashein) <a href="https://twitter.com/Claudiashein/status/1861558804652999130?ref_src=twsrc%5Etfw">November 26, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h3 class="wp-block-heading">Sheinbaum To Trump: Fentanyl &#8216;Is An Issue In Your Country&#8217; </h3>



&#8220;For humanitarian reasons, we have consistently expressed Mexico&#8217;s commitment to preventing the continuation of the <a href="https://www.benzinga.com/general/health-care/24/11/42146502/us-overdose-deaths-decline-as-fentanyl-potency-weakens-harm-reduction-expands">fentanyl epidemic</a> in the United States, which, moreover, is an issue of consumption and public health in your country,&#8221; Sheinbaum says in the letter, which she read during her usual morning conferences. 



Sheinbaum detailed Mexico's recent measures, including enforcement actions by the armed forces and prosecutors. According to the data she shared, in 2024 alone, authorities seized large quantities of &#8220;various drugs&#8221;, confiscated over 10,340 firearms, and arrested more than 15,640 individuals for drug-related violence.



Furthermore, she noted Mexico&#8217;s legislative progress toward stricter penalties.



Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.



<h3 class="wp-block-heading">Not Us</h3>



Sheinbaum called attention to the illicit flow of chemical precursors from Asia, which enter North America through Canada, the U.S., and Mexico. 



She stressed that addressing this issue requires international collaboration: &#8220;It is publicly known that these precursors are smuggled into North America. This makes global cooperation imperative.&#8221;



The president juxtaposed the flow of drugs with the southbound<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42166673/drug-cartels-use-tether-and-bitcoin-to-launder-millions-court-documents-reveal"> illegal trafficking</a> of <a href="https://www.benzinga.com/topic/guns">firearms</a> from the U.S. into Mexico. 



She cited stark statistics: 70% of illegal weapons seized in Mexico originate in the U.S., fueling violence. 



&#8220;The synthetic drugs are not consumed by us, and the weapons are not produced here. Yet, we bear the brunt of the deaths caused by organized crime in response to the demand for drugs in your country.&#8221;



Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/11/42069004/how-trumps-election-could-revolutionize-cannabis-and-cryptocurrency-ceo-says">How Trump&#8217;s Election Could Revolutionize Cannabis And Cryptocurrency, CEO Says</a>



<h3 class="wp-block-heading">&#8216;Reciprocal Understanding And Cooperation&#8217;</h3>



Sheinbaum rejected the efficacy of punitive tariffs in addressing these challenges. 



Instead, she urged for &#8220;reciprocal understanding and cooperation&#8221; between the two nations. 



She noted that mutual economic ties, especially in industries like automotive manufacturing, <a href="https://www.benzinga.com/news/global/24/11/42198583/will-trump-lead-us-into-trade-war-with-mexico-president-claudia-sheinbaum-rebukes-threats">would suffer</a> under an antagonistic approach, leading to inflation and job losses on both sides of the border, and posed that both Mexico and the U.S. should work together on a mobility program instead of reinforcing the borders. 



&#8220;I am convinced that North America's economic strength lies in preserving our commercial partnership. Dialogue is the best path toward understanding, peace, and prosperity for our nations,&#8221; she added.



<ul>
<li>Read Next:<a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42202496/goldman-sachs-expects-major-selloffs-in-canadian-dollar-mexican-peso-says-trump-tariffs-threaten-usmca-agreement"> Goldman Sachs Expects Major Selloffs In Canadian Dollar, Mexican Peso, Says Trump Tariffs Threaten USMCA Agreement</a></li>
</ul>



Translations in this article were made by Rolando García



Cover: Shutterstock.

Cannabis

Government

Mexico President Claudia Sheinbaum To Trump: 'Neither Threats Nor Tariffs' Will Solve Your Fentanyl Crisis

The cryptocurrency <a href="https://www.benzinga.com/money/ripple-xrp-price-prediction">XRP Token</a> (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) from Ripple has soared in price over the last week, with optimism coming from an XRP exchange-traded fund and news that Ripple will invest in a newly rebranded <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42220218/ripple-to-invest-in-rebranded-xrp-exchange-traded-product-by-bitwise">Physical XRP ETP.</a>



While Ripple has hit new 52-week highs, the cryptocurrency remains down from all-time highs.



What Happened: Asset manager WisdomTree recently filed to establish a trust that could lead to the <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42170669/wisdomtree-files-for-xrp-etf-trust-report">launch of an XRP ETF.</a>



This move follows others like Bitwise who have already filed to launch similar ETFs. On Wednesday, Ripple announced it would invest in the new rebranded Bitwise Physical XRP ETP.



&#8220;Global demand for exposure to the crypto asset class has exploded in 2024,&#8221; Ripple CEO Brad Garlinghouse said in a&nbsp;<a href="https://www.globenewswire.com/news-release/2024/11/27/2987978/0/en/Bitwise-Rebrands-XRP-ETP-Ripple-To-Invest-in-Product.html" target="_blank" rel="noreferrer noopener">statement</a>. &#8220;XRP is at the forefront of this momentum, standing out as a cornerstone for those seeking access to assets that are resilient and have real-world utility.&#8221;



Bitwise CEO Hunter Horsley said XRP's utility and reliability are among the reasons investors are excited about XRP.



&#8220;XRP and the XRP Ledger are among the most familiar and trusted blockchains in crypto," Horsley said.



With Bitcoin and Ethereum ETFs already approved, cryptocurrency experts see ETFs based on other top 10 cryptos by market capitalization like Solana, Dogecoin and XRP as the&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42011875/solana-ripple-litecoin-etfs-may-be-on-the-table-under-trump-administration-industry-experts-think" target="_blank" rel="noreferrer noopener">next to be approved.</a>



The XRP token has gone through many wild swings over the years, with a case brought on by the SEC alleging XRP to be a security, sending the price and interest in the cryptocurrency down. A landmark court ruling that said XRP was not a security helped bring the cryptocurrency&#8217;s price back up.



While XRP has risen in value in recent months, the cryptocurrency remains down from all-time highs.



Read Also: <a href="https://www.benzinga.com/general/education/24/11/42173824/if-you-invested-1000-in-xrp-token-when-sec-lawsuit-caused-mass-panic-heres-how-much-youd-have-today">If You Invested $1,000 In XRP Token When SEC Lawsuit Caused Mass Panic, Here&#8217;s How Much You&#8217;d Have Today</a>



Investing $100 in XRP Today: XRP trades at $1.51 at the time of writing, up 9% over the last 24 hours.



A $100 investment today could purchase 66.2252 XRP.



XRP hit an all-time high of $3.84 on June 4, 2018.



If XRP returns to its 2018 all-time high of $3.84, the $100 investment would be worth $254.30. This represents a potential gain of 154.3%.



There is no guarantee that the XRP Token will return to its all-time highs.



The hypothetical investment shows that a small investment could gain over time if the cryptocurrency market returns to its high mark.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41908812/if-you-invested-100-in-dogecoin-when-the-meme-coin-launched-heres-how-much-youd-have-today">If You Invested $100 In Dogecoin When The Meme Coin Launched, Here&#8217;s How Much You&#8217;d Have Today</a></li>
</ul>



This article was previously published by Benzinga and has been updated.



Photo: Shutterstock

$XRP

Here's How Much $100 Invested In XRP Token Today Will Be Worth If Crypto Returns To All-Time Highs

JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO <a href="https://www.benzinga.com/general/politics/24/10/41192406/jamie-dimon-rejects-trump-endorsement-claim-casting-doubt-on-treasury-rumors">Jamie Dimon</a> is optimistic about President-elect Donald Trump's plans to cut back on regulations and he says <a href="https://www.benzinga.com/24/11/42029764/global-banks-jp-morgan-goldman-sachs-add-to-bitcoin-ethere-etf-positions-in-q3-morgan-stanley-increases-microstrategy-stake-to-16b">Wall Street bankers</a> are thrilled. In a recent talk during the APEC CEO Summit in Peru, Dimon said that the industry is <a href="https://www.benzinga.com/content/42151857/top-3-financial-stocks-set-to-gain-from-looser-regulations">hopeful that Trump's win will result in less red tape</a>, allowing banks to do more of what they do best: lend money.



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"A lot of bankers, they're like dancing in the street because they've had successive years and years of regulations, a lot of which stymied credit," Dimon said. His point is that all the rules implemented over the past years have made it harder for banks to lend money, impacting businesses and the overall economy.



<h2 class="wp-block-heading">Regulations That Hold Banks Back</h2>



Dimon explained that banks in the U.S. used to lend out $100 for every $100 in deposits they held. But now, with all the restrictions, they only lend about $65 for every $100 in deposits. He feels that tougher laws have made it difficult for banks to perform their functions and that reducing these rules could help.



"If that's what you want, if for some reason the regulators think they're geniuses and that's the best way to run the banking system, so be it," Dimon said. He also pointed out that regulators likely didn't anticipate the negative effect that their rules would have on credit and lending.



See Also: The global games market is projected to generate $272B by the end of the year —<a href="https://www.benzinga.com/money/gameflip"> for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.</a>



<h2 class="wp-block-heading">Why Banking Regulations Are Important</h2>



Banking regulations were put in place primarily to ensure the stability and safety of the financial system, protect consumers and prevent reckless behavior that could lead to economic crises. After the 2008 financial crisis, regulations were tightened to reduce the risks banks could take with their lending and investment practices. These rules are crucial in maintaining trust in the banking sector, preventing <a href="https://www.benzinga.com/personal-finance/24/11/41949050/bill-gates-warned-the-u-s-will-experience-another-2008-style-financial-crisis-he-cant-predict-when-but-says-this-is-a-certainty">another financial meltdown</a> and ensuring that banks operate responsibly without jeopardizing the broader economy.



Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a>



<h2 class="wp-block-heading">Hope for Change</h2>



Dimon applauded Trump's intentions to streamline government and reduce the regulatory burden, highlighting that the right changes could help bankers and many industries. "You could talk to any industry and they'll give you examples of regulations that could be reduced to make it easier for them to do business while keeping the country safe," Dimon added.



Trump has already started putting together a team to tackle these issues. He recently announced that Tesla CEO Elon Musk and pharma entrepreneur Vivek Ramaswamy would lead the Department of Government Efficiency (DOGE), a new task force focused on <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42035165/coinbase-ceo-brian-armstrong-says-doge-department-is-a-once-in-a-lifetime-opprtunity-advocates-abolishing-individual-income-tax">cutting down excessive regulations</a>. The goal is to reduce wasteful government spending and restructure federal agencies.



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<li>Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.26/share!</a></li>



<li>This Jeff Bezos-backed startup will allow you to <a href="https://www.benzinga.com/money/bezos-landlord-100-dollars">become a landlord in just 10 minutes, with minimum investments as low as $100 for properties like the Byer House from Stranger Things.</a></li>
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Jamie Dimon Says Trump's Plans To Loosen Regulations Have Bankers 'Dancing In The Street'

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