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>.



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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

News

Health Care

Politics

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

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: 



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<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)

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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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>

Markets

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

Berkshire Hathaway Inc's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) stock soared to unprecedented levels, closing Wednesday at $483.08 after touching a 52-week high of $491.67. 



<h2 class="wp-block-heading">Berkshire's Stock Surges to New Heights</h2>



The stock has been on a tear, boasting a 34% gain over the past year and 19.6% in the last six months. 



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent112824&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="628" height="490" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28132715/Screenshot-2024-11-28-at-11.57.02-PM.png" alt="" class="wp-image-669243" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28132715/Screenshot-2024-11-28-at-11.57.02-PM.png 628w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28132715/Screenshot-2024-11-28-at-11.57.02-PM-300x234.png 300w" sizes="(max-width: 628px) 100vw, 628px" /></a></figure>



<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent112824&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>



With its price trading well above key moving averages—including a 200-day SMA of $430.63—technical indicators suggest the bullish trend is intact.



However, with the Relative Strength Index (RSI) at 68.79, the stock is teetering near overbought territory, raising questions about sustainability. Despite this, a Moving Average Convergence Divergence (MACD) reading of 5.56 signals continued strength.



Read Also: <a href="https://www.benzinga.com/personal-finance/24/11/42191171/warren-buffett-claims-he-killed-the-dow-investing-peanuts-and-explains-its-a-huge-structural-advantage-to-not-have-a-lot-of-money">Warren Buffett Claims He &#8216;Killed The Dow&#8217; Investing &#8216;Peanuts&#8217; – And Explains It&#8217;s A &#8216;Huge Structural Advantage To Not Have A Lot Of Money&#8217;</a>



<h2 class="wp-block-heading">Buffett's Generosity Knows No Bounds</h2>



Even as his net worth hits $150 billion, <a href="https://www.benzinga.com/topic/warren-buffett">Warren Buffett</a> isn't slowing down his philanthropic mission. On Monday, the Oracle of Omaha pledged another $1.15 billion worth of Berkshire stock to his family's charitable foundations, continuing his 2006 commitment to give away most of his wealth.



Buffett has now donated 56.6% of his Berkshire shares, solidifying his legacy as both an investing icon and a philanthropic force. His latest move follows a colorful shareholder<a href="https://www.businesswire.com/news/home/20241125323423/en/Berkshire-Hathaway-Inc.-News-Release"> letter</a>, where he reaffirmed his dedication to wealth redistribution.



<h2 class="wp-block-heading">A Wealth Legacy Like No Other</h2>



Buffett, who <a href="https://www.forbes.com/sites/dereksaul/2024/11/25/never-wished-to-create-a-dynasty-warren-buffett-donates-11-billion-in-berkshire-stock-and-updates-will/">ranks</a> as the sixth-richest person in the world, has more than doubled his fortune since 2014. Yet, he trails Elon Musk's $330 billion net worth by a significant margin. Unlike Musk's splashy ventures, Buffett's wealth engine—Berkshire Hathaway—continues its steady climb, reinforcing its position as a titan of diversified investing.



Investors are left wondering: can Berkshire maintain its momentum, or is the stock's RSI warning of a potential pullback? Either way, one thing remains clear: Buffett's empire isn't just breaking records—it's making history.



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Long Ideas

Technicals

Trading Ideas

Warren Buffett's Billion-Dollar Moves Propel Berkshire Stock To Record Highs

Israel's ceasefire agreement with Hezbollah which entered into force on Wednesday appears to be unraveling after alleged violations by the Lebanese militant group prompted <a href="https://www.benzinga.com/topic/israel">an Israeli military response</a>.



According to the Israel Defense Forces (IDF), a Hezbollah-linked facility in southern Lebanon was targeted in an airstrike on Thursday after suspicious activity was identified. 



The site reportedly housed medium-range rockets, which were deemed a potential threat.



<h3 class="wp-block-heading">IDF&#8217;s Response To Alleged Breaches</h3>



IDF spokesperson Avichay Adraee announced on X that several suspects, some traveling in vehicles, were spotted entering multiple areas in southern Lebanon, violating the ceasefire agreement. IDF forces responded by opening fire on the group.



Adraee further stated that &#8220;terrorist activity was detected at a Hezbollah site in southern Lebanon, which contained medium-range rockets.&#8221; He confirmed that Israeli warplanes carried out a strike to neutralize the threat.



&#8220;The IDF is deployed in southern Lebanon and is actively working to prevent any violations of the ceasefire agreement,&#8221; Adraee added.



He also issued a warning to residents of southern Lebanon, emphasizing that movement south of the Litani River is strictly prohibited between 5 p.m. and 7 a.m. local time.



Separately, Avital Leibovich, director of the American Jewish Committee Israel Office, highlighted that Hezbollah operatives had entered the village of Kfarkela near the Israeli border, where they are prohibited under the agreement. In response, IDF forces fired warning shots toward the group.



<h3 class="wp-block-heading">Markets React To Renewed Middle East Tensions</h3>



Commodities showed reactions following the latest headlines in Middle East. 



Oil futures rose 0.5% on Thursday, with West Texas Intermediate (WTI) prices – tracked by the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) – climbing to $68.9 a barrel, marking a potential end to a three-day losing streak. 



Gold futures edged up 0.4%, continuing a strong rally. The precious metal is now eyeing its sixth consecutive positive session as investors turn to safe-haven assets amid geopolitical uncertainty.



Read now: 



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</ul>



Image: Shutterstock

Commodities

Global

Econ #s

Israel-Hezbollah Ceasefire Violations Spark Tensions, IDF Strikes Southern Lebanon: Oil Prices Surge

Elon Musk's artificial intelligence company, xAI, reportedly reached a valuation of $50 billion just 16 months after its founding in July 2023. It is now worth more than what the billionaire paid for Twitter. Arguably the most well-known name in the AI space, OpenAI, last valued at $157 billion, needed over nine years to achieve the same milestone.&nbsp;



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<li>If there was a new fund backed by Jeff Bezos offering a <a href="https://www.benzinga.com/money/arrived-private-credit-fund">7-9% target yield with monthly dividends would you invest in it</a>?</li>
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According to Business Insider, xAI is gaining traction in the competitive AI sector and is now valued higher than other AI startups, such as Anthropic (valued at $19 billion) and Perplexity (at $2.8 billion).&nbsp;



xAI's journey has been marked by significant milestones, including raising $5 billion in its latest funding round to purchase 100,000 Nvidia chips. These chips will power the Memphis supercomputer, a facility designed to enhance the company's AI capabilities and support Tesla's Full Self-Driving (FSD) technology. According to WSJ and other outlets, the funding included $5 billion from Valor Equity Partners, Sequoia Capital, Andreessen Horowitz and Qatar Investment Authority.



The Memphis supercomputer, awaiting final approval, is a <a href="https://www.benzinga.com/24/11/42022077/elon-musks-xai-seeks-6b-at-50b-valuation-to-acquire-100k-nvidia-chips-for-memphis-data-center">key part of xAI&#8217;s strategy</a>. It was built in less time than is customary for projects of this kind and is situated on a former manufacturing site. In a recent podcast, Nvidia CEO Jensen Huang mentioned that xAI finished building the supercluster in 19 days, although the procedure usually takes more than a year.&nbsp;



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>



&#8220;Just to put in perspective, 100,000 GPUs are easily the fastest supercomputer on the planet as one cluster. A supercomputer that you would build would normally take three years to plan,&#8221; Huang said, <a href="https://www.benzinga.com/news/24/10/41307824/nvidia-ceo-jensen-huang-praises-elon-musk-for-achieving-something-with-xai-in-19-days-that-usually-t">stressing the role of xAI's engineering</a> and infrastructure teams and crediting them with the system's rapid deployment.&nbsp;



xAI has most notably developed the AI chatbot Grok, inspired by the sci-fi novel The Hitchhiker's Guide to the Galaxy. Grok is positioned as a competitor to OpenAI's ChatGPT, Google's Gemini and Anthropic's Claude. The chatbot uses xAI's proprietary large language model, Grok-2 and has been a notable part of the company's portfolio.



Elon Musk has openly said that his social media platform, X, is<a href="https://www.benzinga.com/news/24/07/39979855/elon-musks-x-shares-your-posts-on-his-social-media-platform-with-grok-for-training-heres-how-you-can"> being used to help train xAI's Grok chatbot</a>. By tapping into the conversations and posts on X, the chatbot can learn to respond more naturally and relevantly.



In just 16 months, xAI has achieved a notable valuation and infrastructure development within the industry. The company is preparing for further advancements with plans to double the number of AI chips at the Memphis facility.



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<li>Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."<a href="https://www.benzinga.com/money/warren-buffet-make-money-when-you-sleep"> Here&#8217;s how you can earn passive income with just $100.</a></li>
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Startups

In Just 16 Months, Elon Musk Achieved With xAI What Took OpenAI Nearly Nine Years To Accomplish

The incoming Donald Trump administration's ambitious energy plans, including a 3 million barrels per oil equivalent a day (mboe/d) production boost, a potential 25% tariff on Canadian oil and gas imports, and accelerated liquified natural gas (LNG) export approvals, could reshape U.S. energy markets — but not <a href="https://www.benzinga.com/24/11/42225506/canada-prepares-retaliatory-tariffs-as-trumps-threat-looms-analysts-warn-of-further-loonie-weakness">without winners and losers</a>.



In note to clients on Thursday, Goldman Sachs crunched the numbers on what could be seismic changes in U.S. energy markets under a Trump's second term. 



Let's break it down: what's realistic, what's speculative, and who bears the cost in this evolving energy landscape.



<h3 class="wp-block-heading">Can The US Really Pump An Extra 3M Barrels a Day?</h3>



Trump's vision of ramping U.S. energy production by 3mboe/d from 2025 to 2028 is ambitious but not entirely unrealistic, according to Goldman.



It can be &#8220;achievable&#8221; by 2028, provided natural gas and natural gas liquids (NGLs) are included in the mix, according to analyst Callum Bruce, CFA. 



Between 2018 and 2023, U.S. energy production grew at an annual pace of 1.8mboe/d — more than double the 0.75mboe/d pace needed to hit that 3mboe/d goal. For 2025-2026, Goldman forecasts growth of 2.0mboe/d, achieving two-thirds of the target in the first two years of a possible Trump second term.



"Rising LNG demand, capital discipline, and energy prices are the key drivers behind this growth," Bruce said. However, policy changes are expected to have limited short-term effects on production.



<h3 class="wp-block-heading">What A 25% Tariff On Canadian Oil Could Mean</h3>



The administration&#8217;s other attention-grabbing idea — a 25% tariff on Canadian oil imports—has raised some eyebrows.



Canada is the U.S.'s largest crude oil supplier, exporting 4.0 million barrels per day (mb/d) to the U.S. over the past year — about 25% of total U.S. refinery inputs.



Most of that oil (2.8mb/d) heads to the Midwest, where refiners rely heavily on Canadian crude.



Key players in this market include Marathon Petroleum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>), Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>), and Exxon Mobile Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>). 



Goldman's analysis suggests a 25% tariff on Canadian oil imports would hit U.S. consumers in the short term through higher gas prices at the pump. However, over time, the burden could shift. 



At a later stage, Canadian producers could bear the brunt as they offer steep discounts to keep their oil flowing south. Western Canadian Select (WCS) crude, currently priced just under $60/barrel, could face a tariff-induced discount of $15/barrel to compete with U.S. alternatives.



Currently, WCS trades at just under $60 per barrel. A 25% tariff would add roughly $15 per barrel to costs, pressuring Canadian producers to cut prices and incentivizing U.S. refiners to seek cheaper alternatives.



<h3 class="wp-block-heading">Tariffs On Canadian Gas: Who Pays?</h3>



A 25% tariff on Canadian natural gas would tell a slightly different story.



Canadian gas exports to the U.S. average 5-6 billion cubic feet per day (Bcf/d), accounting for 5% of U.S. supply. A 25% tariff on these imports would likely squeeze Canadian producers in the short term, 



According to Goldman Sachs, a 25% tariff could slash U.S. imports by approximately 200 million cubic feet per day, based on current price differentials.



Goldman projects that, in the short term, Canadian producers would shoulder most of the tariff burden due to oversupply and low prices. But tighter U.S. gas balances from 2026 onward — driven by higher LNG exports — could allow more of the cost to be passed on to American consumers.



"Canadian gas producers would likely bear the bulk of the burden until U.S. balances tighten from 2026," he said. 



<h3 class="wp-block-heading">LNG Exports: Speeding Up Approvals Won't Move the Needle (Yet)</h3>



The report is skeptical that accelerating U.S. Department of Energy (DoE) approvals for LNG export projects will have any material impact on global or domestic gas balances before 2027.



"DOE approval is necessary, but not sufficient, for new LNG projects to move forward," Bruce said. Long-term capacity contracts and the time-intensive construction process remain the bigger hurdles.



That said, U.S. LNG exports are still on track to more than double by 2030, reaching 25 Bcf/d and increasing the U.S.'s global market share from 22% to 31%.



<h3 class="wp-block-heading">Bottom Line: Winners And Losers</h3>



Goldman's analysis offers a clear takeaway: while the energy boom may lift U.S. production, tariffs and policy changes could ripple through markets in ways that aren't always predictable.



Trump's proposed energy policies could reshape North American energy markets, but the impact varies depending on the player:



<ul>
<li>U.S. Consumers: Likely to face higher gas prices in the short term if Canadian tariffs are imposed.</li>



<li>Canadian Producers: Under pressure from lower prices for both oil and natural gas.</li>



<li>U.S. Producers: Positioned to capitalize on higher domestic production targets and rising LNG exports.</li>



<li>Midwest Refiners: Will face margin pressure but may offset costs by negotiating deeper discounts on Canadian crude.</li>
</ul>



Read now: 



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<li><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></li>
</ul>



Image: Shutterstock

Trump's Energy Policies Poised To Reshape Oil & Gas Market: Winners And Losers Revealed

As U.S. markets paused for Thanksgiving, European equities staged a rebound on Thursday, snapping a three-day losing streak. Lower-than-expected consumer inflation data from Germany rekindled optimism for more aggressive rate cuts by <a href="https://www.benzinga.com/topic/interest-rates">the European Central Bank (ECB)</a>.



Germany&#8217;s annual inflation rate edged higher, rising from 2.0% in October to 2.2% in November , but came in just below market expectations of 2.3%. On a monthly basis, Germany&#8217;s consumer price index (CPI) fell 0.2%, marking the sharpest decline in over a year. The unexpected contraction in monthly CPI added to speculation that the ECB could accelerate monetary easing to support the region&#8217;s economy.



<h3 class="wp-block-heading">European Equities Post Gains</h3>



The Euro STOXX 50, a key benchmark for the eurozone's 50 largest blue-chip stocks, closed up 0.5%, buoyed by gains in industrials and energy stocks. Among the biggest winners were:



<ul>
<li>Airbus SE (OTCPK: AEDSY): +4.2%</li>



<li>RWE AG (OTCPK: RWEOY): +2.7%</li>



<li>ASML Holding NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>): +2.3%</li>
</ul>



<h3 class="wp-block-heading">Dollar Rebounds, Yen Slips After Wednesday&#8217;s Rally</h3>



Meanwhile, the euro slipped 0.2%, trading at $1.0550 against the U.S. dollar. A currency weighted measure of the greenback – tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) – was also up by 0.2%. 



The yen was the underperformer among major currencies, falling by 0.3% following a 1.3% rally on Wednesday. 



<h3 class="wp-block-heading">Commodities: Gold Shines, Oil Sees Volatility</h3>



Commodities were mixed in Thursday&#8217;s session:



<ul>
<li>Gold futures edged up 0.2%, eyeing their sixth gain in the last seven trading days. </li>



<li>Natural gas futures climbed 2.3%, recovering some ground after an 8.5% drop on Wednesday. Thus far in November, natural gas prices are up by 20%. </li>



<li>Oil prices had a choppy session, initially rising on reports of Israeli forces citing violations of the Israel-Hezbollah ceasefire agreement. However, as tensions eased, oil pared gains to trade flat.</li>
</ul>



<h3 class="wp-block-heading">Crypto Struggles To Maintain Momentum</h3>



Cryptocurrencies saw a pullback after recent gains:



<ul>
<li>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 0.9% to around $95,000, failing to sustain momentum from Wednesday's 4.6% rally.</li>



<li>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) dropped 3%, erasing part of its 10% surge the previous day. The pullback highlighted a weaker appetite for risk-on assets within the crypto space.</li>
</ul>



Read now: 



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42234954/will-apple-or-nvidia-be-the-worlds-most-valuable-company-by-the-end-of-2024-polymarket-traders-have-a-clear-favorite">Will Apple Or NVIDIA Be The World&#8217;s Most Valuable Company By The End Of 2024? Polymarket Traders Have A Clear Favorite</a></li>
</ul>

Equities

Large Cap

Eurozone

Currency ETFs

Economics

ETFs

ASML

European Stocks Close Higher, Dollar Gains, Bitcoin Eases To $95,000: What's Driving Markets Thursday?

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and NVIDIA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) are seen as the top contenders for the title of the world's largest company by the end of 2024, according <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42189225/trump-threatens-25-tariffs-on-canada-mexico-until-invasion-is-stopped-but-polymarket-traders-arent-convinced">to Polymarket traders</a>.



Apple <a href="https://polymarket.com/event/largest-company-eoy?tid=1732725661447">leads</a> with a 55% probability of holding the top spot, while NVIDIA trails at 40%.



Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), once a dominant force, has only a 4.5% chance, and other companies have less than 1%.



With $119,473 in total betting volume on the market, the data showcases investor sentiment about the dominance of these technology giants. 



Here's a closer look at the frontrunners, their industries, and current market valuations:



<h3 class="wp-block-heading">Apple: Leading The Pack With 55%</h3>



Apple Inc., currently the most valuable company globally, has a market capitalization exceeding $3.47 trillion. 



The company's strength lies in its ecosystem of consumer products, including the iPhone, Mac, and Apple Watch, combined with a growing services segment featuring Apple Pay, Apple Music and iCloud.



Recent innovations, such as the Vision Pro headset and advancements in AI-powered features, continue to solidify Apple's position as a market leader. 



Its high probability on Polymarket reflects confidence in its ability to maintain its dominance in the face of strong competition.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42232116/dogecoin-to-hit-69-cents-by-inauguration-day-polymarket-traders-are-not-convinced">Dogecoin To Hit 69 Cents By Inauguration Day? Polymarket Traders Are Not Convinced</a>



<h3 class="wp-block-heading">NVIDIA: Gaining Ground With 40%</h3>



NVIDIA, a leader in graphics processing units (GPUs) and artificial intelligence (AI), has surged in market value amid the AI boom. 



With a market cap of $3.44 trillion, NVIDIA has become a critical supplier for generative AI technologies and data center processors. 



The company's revenue has skyrocketed in 2024, driven by demand for its cutting-edge chips used in AI model training and deployment. 



Bettors view NVIDIA's innovative technology and increasing relevance in the AI-driven economy as a strong case for challenging Apple's top spot.



<h3 class="wp-block-heading">Microsoft: A Fading Contender At 4.5%</h3>



Microsoft, with a market cap of about $3.06 trillion, remains a powerhouse in enterprise software, cloud computing, and productivity tools. 



Its Azure cloud platform and integration of AI tools, such as Copilot in Microsoft Office, have kept it competitive. 



However, its relatively low probability on Polymarket suggests that investors view it as unlikely to overtake Apple or NVIDIA by the year's end.



<h3 class="wp-block-heading">Other Contenders: Less Than 1%</h3>



The &#8220;Other&#8221; category, representing all remaining global companies, has less than a 1% chance of ending 2024 as the largest, reflecting the dominance of tech giants in the global economy and the high barriers for other industries to compete at this scale.



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Image: Shutterstock

AAPL

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Will Apple Or NVIDIA Be The World's Most Valuable Company By The End Of 2024? Polymarket Traders Have A Clear Favorite

Palantir Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) is having a banner year, with its stock surging over 235% in the past year and showing <a href="https://www.benzinga.com/quote/PLTR/news">no signs of slowing</a>. 



Market strategist Keith Fitz-Gerald believes this is just the beginning, boldly claiming that Palantir could rival Oracle Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>), Cisco Systems Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) and SAP SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>) — and hit $100 per share sooner than you think.



<h2 class="wp-block-heading">Palantir Could Hit $100 By Mid-2025, Says Expert</h2>



Fitz-Gerald, <a href="https://x.com/fitz_keith/status/1861188617739145336">speaking</a> on Fox Business, shared an upgraded outlook for the data analytics powerhouse. Initially forecasting a $100 price target within 3-5 years, he now expects Palantir to hit that milestone by mid-next year. "This thing is a monster," he said. "Nobody else has got a product like it. It's meshing data software that makes software work. Every legacy provider right now is in trouble."



The analyst's comparisons to industry titans like Oracle and Cisco come as Palantir continues to disrupt with its innovative data solutions. 



Fitz-Gerald emphasized the company's unmatched product offering, suggesting it could outpace traditional providers struggling to adapt to modern data demands.



Read Also: <a href="https://www.benzinga.com/markets/equities/24/11/42233095/palantirs-ytd-returns-surge-298-heres-how-etfs-with-exposure-to-alex-karps-company-have-performed">Palantir&#8217;s YTD Returns Surge 298%: Here&#8217;s How ETFs With Exposure To Alex Karp&#8217;s Company Have Performed</a>



<h2 class="wp-block-heading">Technical Momentum Fuels Optimism</h2>



The bullish sentiment isn't just talk. 



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent112824&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="628" height="490" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28095103/Screenshot-2024-11-28-at-8.20.49-PM.png" alt="" class="wp-image-669174" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28095103/Screenshot-2024-11-28-at-8.20.49-PM.png 628w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28095103/Screenshot-2024-11-28-at-8.20.49-PM-300x234.png 300w" sizes="(max-width: 628px) 100vw, 628px" /></a></figure>



<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent112824&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>



PLTR stock, at $66.05, is flying high above all its major moving averages:



<ul>
<li>Eight-day SMA: $63.56</li>



<li>20-day SMA: $58.00</li>



<li>50-day SMA: $47.68</li>



<li>200-day SMA: $31.14</li>
</ul>



These technical signals underscore a strong uptrend, with PLTR&#8217;s Moving Average Convergence Divergence (MACD) at 5.51, another indicator of a buying opportunity. 



However, investors should note the RSI of 73.03, suggesting the PLTR stock is in overbought territory.



<h2 class="wp-block-heading">Palantir: A Long-Term Play</h2>



For long-term believers, Palantir's trajectory could mirror the meteoric rise of companies like Oracle and Cisco during their heydays. With its unique ability to integrate complex data solutions across industries, Palantir is positioned to dominate a market where legacy systems are struggling to keep pace.



If Fitz-Gerald's prediction holds, Palantir could hit triple digits by next year, but investors might want to buckle up for a wild ride as the stock navigates both technical and market dynamics.



Whether Palantir becomes the next Oracle or carves its own path, one thing is clear: this data giant isn't slowing down anytime soon.



Image: Shutterstock

Tech

CSCO

ORCL

PLTR

Palantir: The Next Oracle? Expert Predicts A Monster Run To $100

Coinbase Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) CEO Brian Armstrong has criticized Senator Elizabeth Warren (D-Mass.), calling her a &#8220;liability&#8221; to the Democratic Party and accusing her of being complicit in attempts to undermine <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42122348/trumps-planned-crypto-council-may-oversee-bitcoin-reserve-report">the cryptocurrency industry.</a>



What Happened: Armstrong's comments came in response to a tweet from Elon Musk, referring to venture capitalist Marc Andreessen <a href="https://x.com/elonmusk/status/1861667220876824869">alleging</a> that 30 tech founders were secretly debanked in an appearance on the Joe Rogan podcast. 



Armstrong <a href="https://x.com/brian_armstrong/status/1861890800268775923">supported</a> Musk's claim, describing the situation as "one of the most unethical and un-American things that happened in the Biden administration."



He speculated that Senator Warren played a key role, stating, "My guess is we&#8217;ll find Elizabeth Warren&#8217;s fingerprints all over it." 



He also alleged that Warren and SEC Chair <a href="https://x.com/brian_armstrong/status/1861890800268775923">Gary Gensler</a> attempted to &#8220;unlawfully kill our entire industry,&#8221; suggesting that their actions contributed to the Democratic Party's poor performance in the recent elections.



Armstrong also revealed that Coinbase is pursuing Freedom of Information Act (FOIA) requests to gather documents to uncover the full extent of the issue and determine if any laws were broken.



"We're still collecting documents via FOIA requests, so hopefully the full story emerges of who was involved," Armstrong added.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42232116/dogecoin-to-hit-69-cents-by-inauguration-day-polymarket-traders-are-not-convinced">Dogecoin To Hit 69 Cents By Inauguration Day? Polymarket Traders Are Not Convinced</a>



Why It Matters: The Coinbase CEO&#8217;s criticism reflects growing tensions between the cryptocurrency industry and certain Democratic leaders, particularly Warren, who has long been a <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41963342/elizabeth-warrens-sarcastic-take-on-doges-split-leadership-gets-slammed-by-elon-musk-unlike-you-neither-of-us-are-being-paid">vocal critic of crypto</a>.



Warren's stance on cryptocurrency has been a polarizing issue, with proponents accusing her of stifling innovation through excessive regulation, while her supporters argue that tighter controls are necessary to curb fraud and environmental harm.



Armstrong's remarks come amid increasing scrutiny of regulatory policies under the Biden administration, with crypto advocates pointing to what they see as overreach by agencies <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42131449/with-gary-gensler-preparing-to-quit-in-2025-secs-crypto-cases-likely-to-quietly-go-away-amid-trumps-pro-bitcoin-stance-says-pantera-capitals-katrina-paglia">like the SEC</a>.



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Image: Shutterstock

COIN

Coinbase's Armstrong: Warren Was Involved In 'One Of The Most Unethical, Un-American Things In The Biden Administration'

President-elect Donald Trump has nominated <a href="https://www.benzinga.com/general/health-care/24/11/42077935/trump-picks-dr-oz-who-says-seniors-should-give-medical-marijuana-a-try-to-lead-centers-for-medicare-and-medicaid-services">Dr. Mehmet Oz</a> to lead the Centers for Medicare and Medicaid Services (CMS), sparking conversations about potential changes to Medicare. This key agency oversees health programs for over 160 million Americans, including Medicare, Medicaid and the Children's Health Insurance Program.



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Dr. Oz, best known for his TV show and controversial medical advice, is a vocal proponent of expanding Medicare Advantage (MA), the private alternative to traditional Medicare.&nbsp;



How could his nomination impact Medicare beneficiaries – particularly in regard to their costs and benefits?



Dr. Oz has long championed <a href="https://www.benzinga.com/personal-finance/24/10/41570507/medicare-advantage-shake-up-how-health-insurance-plans-could-change-for-up-to-44-000-new-hampshi">Medicare Advantage</a>, which allows seniors to opt for private plans instead of traditional Medicare. These plans often appeal to enrollees with lower premiums and additional perks like dental, hearing and gym memberships. However, they come with trade-offs, such as limited provider networks and prior authorization requirements that can delay or deny care.



See Also: ‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. <a href="https://www.benzinga.com/money/mode-mobile-2">You can invest TODAY for just $0.26/share with a $1000 minimum.</a>



Currently, 54% of Medicare enrollees are in Advantage plans, which could grow under Oz's leadership. Some experts speculate that Oz might push to make MA the default choice for new enrollees, as suggested in the conservative Heritage Foundation&#8217;s Project 2025 report.



"When plans are paid more, that does seem to result in more generous benefits for Medicare Advantage enrollees," Matthew Fiedler of the Brookings Institution told Yahoo Finance. However, critics warn that this could strain Medicare's finances.



In announcing Oz's nomination, Trump stated that TV doctors would reduce &#8220;waste and fraud&#8221; in Medicare, which costs the government billions annually. According to the Government Accountability Office (GAO), improper payments in Medicare and Medicaid exceeded $100 billion in 2023. Addressing these issues could help extend Medicare's solvency, especially as its trust fund faces potential depletion by 2036.



Trending: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."<a href="https://www.benzinga.com/money/warren-buffet-make-money-when-you-sleep"> Here&#8217;s how you can earn passive income with just $100.</a>



Yet, experts are skeptical about significant changes targeting Medicare Advantage, which some studies suggest leads to overpayments and excessive profits for insurers. The Committee for a Responsible Federal Budget estimated that Medicare Advantage overpayments could cost taxpayers up to $1.6 trillion over the next decade.



<a href="https://www.benzinga.com/general/health-care/24/11/42077057/trump-picks-dr-oz-as-centers-for-medicare-and-medicaid-services-administrator">Oz and Trump</a> have expressed a desire to make prescription drugs more affordable. While Oz has discussed streamlining clinical trials to cut costs, it remains unclear if he would support provisions from the Inflation Reduction Act (IRA), such as Medicare's $2,000 cap on out-of-pocket drug expenses.



Trending: Many are using this retirement income calculator 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>



Although some Republicans advocate repealing the IRA, most experts believe the cap on drug costs will remain untouched. "Nobody's going to mess with the $2,000 cap," says elder advocate Bob Blancato at the Gerontological Society of America (GSA) conference before Oz was nominated.



Oz's leadership could mean expanded access to Medicare Advantage plans for <a href="https://www.benzinga.com/general/biotech/24/10/41257459/biden-administration-unveils-plan-to-provide-generic-drugs-for-2-to-medicare-recipients">Medicare beneficiaries</a>, potentially offering more perks but with stricter provider networks. However, these changes might also increase costs for taxpayers and the traditional Medicare program in the long term.



Ultimately, whether Dr. Oz can deliver on promises to cut waste and fraud while maintaining or improving benefits remains to be seen. Seniors and policymakers alike will be watching closely as his tenure unfolds. Understanding these potential changes can help you make informed decisions about your health care options.&nbsp;



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Trump Says Dr. Oz Will Cut 'Waste And Fraud' In Medicare – Experts Are Skeptical, But What Does This Mean For Your Health Care Costs?

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.



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



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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.



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<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.



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<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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Jamie Dimon Says Trump's Plans To Loosen Regulations Have Bankers 'Dancing In The Street'

<a href="https://www.benzinga.com/personal-finance/24/11/42141974/house-passes-196-billion-social-security-bill-will-repealing-pension-reductions-shorten-the-programs-lifespan">Social Security has reached a tipping point</a>; the numbers paint a grim picture. If no changes are made, the program, a cornerstone of the American safety net, will face insolvency by 2035.&nbsp;



Without intervention, benefits could be slashed by 17% in just over a decade, pushing millions of seniors into poverty. The problem stems from a widening deficit, a declining worker-to-retiree ratio and the growing strain of an aging population. While many agree that Social Security needs reform, how to fix it remains a battleground.



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Sen.<a href="https://www.benzinga.com/news/24/11/42116975/bernie-sanders-says-its-very-easy-to-lose-touch-with-ordinary-peoples-struggles-defends-owning-3-houses-and-a-2-million-net-worth"> Bernie Sanders</a> has been one of the most vocal advocates for a solution that addresses the glaring inequities in how Social Security is funded. He's made it clear that the current system disproportionately benefits the wealthy.&nbsp;



In a Facebook post from September, Sanders wrote, "It is absurd that a billionaire in America today pays the same amount of Social Security taxes as someone making $168,000 a year. It is time to scrap the cap, expand benefits and fully fund Social Security."



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This isn't a new stance for Sanders. He's been banging the drum on wealth inequality for years, often highlighting that billionaires like Elon Musk and Jeff Bezos hold more wealth than the bottom half the U.S. population. Sanders has proposed "scrapping the cap," meaning that the cap on income subject to Social Security taxes – currently $168,600 – would be lifted.&nbsp;



His plan suggests taxing income over $250,000 at the same 6.2% rate as everyone else, ensuring that millionaires and billionaires contribute a fairer share to the system.&nbsp;



According to Sanders, this move would make Social Security solvent for 75 years and allow for expanded benefits, increasing payouts for recipients by roughly $2,400 per year.



Sanders has also spoken passionately about the struggles many seniors face. On his website, he emphasizes, "You cannot live in dignity when trying to survive on $13,000 or $14,000 a year in Social Security benefits." His proposals strike at the heart of this issue, tying tax reform to broader economic justice. For Sanders, Social Security isn't just about retirement security – it's about ensuring people can live with dignity in a system he argues is skewed toward the wealthy.



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Sanders' rhetoric has always been sharp, especially when pointing out the <a href="https://www.benzinga.com/personal-finance/24/03/37518617/bernie-sanders-report-reveals-over-half-of-older-adults-survive-on-under-30-000-a-year-americans">disproportionate power of the wealthy</a>. In another post, he questioned why the immense wealth of Musk, Bezos and Larry Ellison rarely makes headlines, claiming, "Part of the answer is that the people who own the media are doing phenomenally well. They aren't interested in highlighting massive levels of inequality."



While his ideas, like "scrap the cap," have drawn significant support from progressives, they've also faced resistance from conservatives and moderates who argue against raising taxes on high earners. Regardless of where you fall on the issue, the urgency is undeniable. <a href="https://www.benzinga.com/personal-finance/24/08/40374894/financial-guru-dave-ramsey-advises-take-social-security-at-62-but-this-essential-step-is-non-neg">Social Security is a lifeline</a> for millions and reform is needed to ensure it remains sustainable.



This uncertain future is a wake-up call for those relying on Social Security as a key part of their retirement plan. Assessing how Social Security benefits fit into your overall financial picture is critical. <a href="https://www.benzinga.com/money/can-you-guess-how-many-americans-successfully-retire-with-1-million-saved">Consulting a trusted financial advisor</a> can help determine whether you're on track to cover your expenses and maintain your desired quality of life.&nbsp;



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Bernie Sanders Demands 'Scrap The Cap' On Social Security Taxes – It's 'Absurd' A Billionaire Pays Same Amount As Middle-Class Earners

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