In the wake of the launch of a meme coin themed to President-elect Donald Trump, the cryptocurrency Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) has surged 15% on Saturday.



What Happened: According to Coinmarketcap, the SOL token of Solana experienced a significant value increase following the launch of a Trump-themed meme coin on the Solana blockchain. 



On Saturday, SOL&#8217;s price soared more than 15% to $254.71. The newly introduced meme coin, named &#8220;Official Trump&#8221; (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>), was unveiled on Trump&#8217;s social media accounts late Friday and has since garnered more than $5 billion, making it the largest meme coin on the Solana network, according <a href="https://www.coingecko.com/en/categories/solana-meme-coins">to</a> CoinGecko.



Trump himself, and entities directly connected to him, have earned as much as $25 billion from the offering, <a href="https://www.axios.com/2025/01/18/trump-meme-coin-25-billion">according</a> to Axios.



This development is timed ahead of Trump&#8217;s inauguration on Monday, which is anticipated to usher in a new era of innovation and productivity in the crypto industry. It also coincides with the conclusion of Gary Gensler&#8216;s term as chairman of the Securities and Exchange Commission.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43073327/official-trump-memecoin-jumps-over-260-ahead-of-president-elects-white-house-inauguration-market-cap-reaches-whopping-4-billion-within-8-hours-of-launch">&#8216;Official Trump&#8217; Memecoin Jumps Over 260% Ahead Of President-Elect&#8217;s White House Inauguration</a>



Solana,&nbsp;the fourth-largest cryptocurrency by market&nbsp;cap, was established in 2020 as a quicker and more affordable alternative to Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>). It hosts&nbsp;popular meme coins like dogwifhat and&nbsp;Pudgy Penguins, in addition to&nbsp;decentralized finance (DeFi) and gaming&nbsp;projects.



The decision deadline&nbsp;for potential ETFs from Bitwise,&nbsp;VanEck, 21Shares, and Canary is January 25. ProShares&nbsp;also filed for four different&nbsp;ETFs based on SOL on Friday.



Why It Matters: The introduction of the Trump-themed memecoin and its subsequent success highlights the growing influence of political figures on the cryptocurrency market. 



The surge in Solana&#8217;s value following the meme coin&#8217;s launch underscores the potential of such themed coins to drive market trends. With the end of Gensler&#8217;s term, the crypto industry is poised for potential regulatory changes that could further impact the market dynamics. 



Read Next



<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001426/trump-aims-to-make-us-crypto-capital-of-the-planet-well-get-it-done">Trump Aims To Make US &#8216;Crypto Capital Of The Planet&#8217;: &#8216;We&#8217;ll Get It Done&#8217;</a>

Cryptocurrency

News

Markets

$ETH

$SOL

Solana Skyrockets, Sees 15% Surge Following Launch Of Trump-Themed Meme Coin

The cryptocurrency sector is optimistic of what is to come with Donald Trump serving as the next president. Optimism comes as many cryptocurrencies have hit all-time highs since Trump won the <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41778425/bitcoins-all-time-high-a-groundbreaking-milestone-and-strong-post-election-rally-coming-ex">2024 presidential election.</a>



A new Benzinga reader poll predicts which cryptocurrency could have the best return early in Trump's presidency.



What Happened: Trump <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43065423/donald-trump-to-mention-bitcoin-or-crypto-at-the-inauguration-polymarket-traders-say-theres-a-chance">will be sworn in </a>as the next president of the United States on Monday, marking his second non-consecutive term as the leader of the country.



The stock market will be closed on Monday in honor of Martin Luther King Jr. Day, which is a federal holiday.



While investors won't be able to buy and sell stocks that could be mentioned individually or part of sectors that are highlighted during Trump's inauguration speech, the cryptocurrency market will be open.



"Which crypto will pump the most on Donald Trump's Inauguration Day?" Benzinga recently asked readers.



Here were the results:



<ul>
<li>XRP Token (CRYTO:XRP): 41%</li>



<li>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>): 35%</li>



<li>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>): 14%</li>



<li>None, Crypto Will Crash: 7%</li>



<li>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>): 4%</li>
</ul>



The winner of the poll was XRP Token, which is one of the top gaining cryptocurrencies over the last year. XRP, which is from Ripple Labs, has been in the spotlight a lot recently, including thanks to a <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42865935/trump-meets-top-ripple-executives-ceo-says-strong-start-to-2025-as-technicals-favor-xrp-bulls">visit by Ripple executives</a> to meet with Trump.



The poll saw only 7% of readers predict that cryptocurrency would crash on Monday, which could end up being the result of sell the news as cryptos trade higher ahead of Monday.



If Trump announces cryptocurrency related initiatives on Monday, the sector could see strength, but likewise cryptos could fall if he minimizes the sector in his speech.



Why It's Important: Benzinga readers have selected XRP and Bitcoin as winners in several polls, which won't make the latest results a huge surprise.



An early<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42378513/can-bitcoin-ethereum-dogecoin-shiba-inu-or-solana-beat-xrp-in-2025-poll-says-yes-one-coin-stands-out"> December 2024 poll </a>asked Benzinga readers if any of several hand-picked cryptocurrencies would outperform XRP in 2025.



The results were:



<ul>
<li>Bitcoin: 28%</li>



<li>Solana: 15%</li>



<li>Dogecoin: 13%</li>



<li>Ethereum: 10%</li>



<li>Shiba Inu: 10%</li>



<li>Hedera: 1%</li>



<li>None of the Above: 24%</li>
</ul>



Bitcoin won the poll with 28% of readers believing the leading cryptocurrency will outperform the other options in 2025.



Ranking second in the poll was None of the Above, which means 24% of readers think XRP will outperform the other six cryptocurrencies including Bitcoin in 2025.



Here are the current returns of the cryptocurrencies in the new poll:



<ul>
<li>XRP: 1-Month +32.0%, 1-Year +478.1%</li>



<li>BTC: 1-Month: -1.6%, 1-Year +145.3%</li>



<li>DOGE: 1-Month +3.5%, 1-Year +414.9%</li>



<li>SHIB: 1-Month -0.9%, 1-Year +155.1%</li>
</ul>



XRP and Dogecoin have already had huge one-year gains and XRP is up significantly over the last month, which could make any additional gains on Monday icing on the cake as more eyes are on the cryptocurrency sector in 2025.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/25/01/43059744/exclusive-can-sp-500-repeat-large-gains-from-donald-trumps-first-term-a-second-time-around-readers-say-this-return-range-most-likely">EXCLUSIVE: Can S&amp;P 500 Repeat Large Gains From Donald Trump&#8217;s First Term A Second Time Around? Readers Say This Return Range Most Likely</a></li>
</ul>



The study was conducted by Benzinga from Jan. 16, 2025 through Jan. 17, 2025. It included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 107 adults.

Exclusives

$BTC

$DOGE

$SHIB

$XRP

EXCLUSIVE: Will Bitcoin, Dogecoin, Shiba Inu Or XRP Gain More On Trump's Inauguration Day? 41% Pick This Crypto

President Joe Biden prioritized <a href="https://www.benzinga.com/markets/cannabis/25/01/43054504/biden-commutes-sentences-of-nearly-2500-convicted-of-non-violent-drug-offenses-no-mention-of-cannabis-prisoners">freeing non-violent drug offenders</a> during his final few days in the White House, but TikTok? That's President-elect Donald Trump's problem now. 



According to the <a href="https://apnews.com/article/tiktok-ban-trump-executive-order-1e95d9836bf6f8c0c245ed1c3234d968">Associated Press</a>, Biden has no intention of enforcing the ban, which takes effect on his last full day in office, Jan. 19, and one day <a href="https://www.benzinga.com/news/25/01/42995328/trump-inauguration-from-elon-musk-jeff-bezos-to-barack-obama-george-bush-and-bill-clinton-who-all-will-attend">before Trump&#8217;s inauguration</a>.



With a deadline looming, the app's fate lands in the hands of the so-called People's Bid for TikTok—backed by none other than Kevin O'Leary of &#8220;Shark Tank&#8221; and billionaire Frank McCourt. Apparently, TikTok's U.S. assets are still up for grabs, but no word yet on the price tag or whether a deal can realistically get done <a href="https://www.benzinga.com/general/social-media/25/01/43060894/supreme-court-upholds-tiktok-ban-ahead-of-trumps-inauguration">in a few days</a>.



<h2 class="wp-block-heading">Bankruptcy Block</h2>



Joann Inc. is stitching together a bankruptcy plan for the second time within 12 months. The Ohio-based fabric and crafts retailer is seeking a buyer for its portfolio of some 800 stores. 



Gordon Brothers Retail Partners emerged as the &#8220;stalking horse&#8221; bidder, but Joann remains hopeful for better offers—perhaps from someone who knows how to thread the needle.



Previously, the 82-year-old retailer was under the stewardship of private equity firm Leonard Green &amp; Partners, which acquired it via a $1.6 billion leveraged buyout in 2011. The firm buried the company under a pile of debt (<a href="https://wolfstreet.com/2024/03/18/brick-and-mortar-meltdown-fells-another-retailer-joann-inc-files-for-bankruptcy-3-years-after-ipo/">reportedly</a> $921 million in long-term debt as of Oct. 31, 2020) and <a href="https://www.benzinga.com/news/21/03/20048728/ipo-preview-roblox-coupang-joann-lead-busy-week-of-offerings">sent it public in 2021</a>. 



Joann went private again in <a href="https://apnews.com/article/joann-bankruptcy-chapter-11-filing-75093d4032907c59a45e472dd4e23229">March</a> 2024 while under Chapter 11 bankruptcy protection. The company managed to reduce its $1 billion total debt by about $500 million at the time.



Despite efforts to save itself last year, Joann is joining the growing quilt of recent retail casualties: Party City, Big Lots, LL Flooring, The Body Shop and The Container Store <a href="https://www.benzinga.com/news/legal/24/12/42710619/deal-dispatch-party-city-wraps-big-lots-goes-bust-container-store-continues">to name a few</a>.



Kirkland &amp; Ellis is handling legal matters, while Centerview Partners LLC offers financial advice. Alvarez &amp; Marsal North America, LLC is overseeing the restructuring process.



<h2 class="wp-block-heading">New On The Block</h2>



<ul>
<li>Investment firm KKR &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) hired Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) to run an auction for its minority stake in Philippine fintech company Maya, Reuters reported. </li>



<li>New York-headquartered KKR owns more than 20% of Maya and the potential sale, if it goes through, could value Maya at more than $2 billion, one of the sources said.</li>



<li>DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>) is looking to <a href="https://www.benzinga.com/news/large-cap/25/01/43028181/chemical-company-dupont-electronics-business-separation-retains-water-business">jettison its electronics business</a>. The Wilmington, Delaware-based company expects the transaction to be completed by Nov. 1. DuPont also decided to retain its water business after evaluating strategic alternatives.</li>



<li>Ingevity Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGVT#NYSE">NGVT</a>) is shopping its Performance Chemicals Industrial Specialties segment, which includes divesting parts of its North Charleston, South Carolina site. The company hopes to improve earnings cash flow and conclude the review process by year-end. Whether a transaction comes about <a href="https://www.benzinga.com/news/25/01/43027745/ingevity-explores-strategic-options-for-performance-chemicals-segment-to-strengthen-portfolio-projects-fy24-revenue-at-1-40-billion">remains to be seen</a>. </li>



<li>S&amp;W Seed Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SANW#NASDAQ">SANW</a>) is up for sale. It&#8217;s also considering a merger or recapitalization as part of a larger strategic review. The Longmont, Colorado-based company has already sold its Australia subsidiary. &#8220;We continue to support all initiatives that optimize shareholder value and will consider the full range of potential strategic alternatives to ensure S&amp;W Seed is best positioned for future success,&#8221; chairman Alan Willits said.</li>
</ul>



See Also: <a href="https://www.benzinga.com/25/01/43046722/starship-explodes-during-flight-test-elon-musk-says-success-is-uncertain-but-entertainment-is-guaranteed">Starship Explodes During Flight Test, Elon Musk Says: &#8216;Success Is Uncertain, But Entertainment Is Guaranteed!&#8217;</a>



<h2 class="wp-block-heading">Updates From The Block</h2>



<ul>
<li>Lourenco Goncalves raised eyebrows during a Monday press conference. According to <a href="https://www.bloomberg.com/news/articles/2025-01-14/cliffs-ceo-rips-evil-japan-and-doubles-down-on-america-first">Bloomberg</a>, the CEO of Cleveland-Cliffs Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) called Japan, a U.S. ally, &#8220;evil&#8221; and accused it of teaching China harmful practices like dumping and overproduction. His comments came as Cleveland-Cliffs eyes a new bid for U.S. Steel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>), following Biden&#8217;s decision to block Nippon Steel&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NPSCY#OTC">NPSCY</a>) <a href="https://www.benzinga.com/trading-ideas/movers/25/01/42787508/biden-blocks-14-9b-us-steel-takeover-shares-plunge">$14 billion acquisition attempt</a>. While positioning his company as a potential buyer, Goncalves&#8217; rhetoric escalated tensions within the steel industry. Nippon is now looking to Trump to <a href="https://www.benzinga.com/news/25/01/42994950/nippon-steel-eyes-trump-administration-to-revive-15b-us-steel-deal-blocked-by-biden-well-do-whatever-it-takes">help close the deal</a>. </li>



<li>T-Mobile (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) will buy Vistar Media for $600 million. The telecom company expects the deal to strengthen its advertising business, Reuters reported. </li>
</ul>



Deals in the biotech and pharmaceutical sectors piled up this week. Here&#8217;s a sample of Benzinga&#8217;s coverage:



<ul>
<li>Biogen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) submitted an unsolicited bid to acquire all of the outstanding shares of Sage Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAGE#NASDAQ">SAGE</a>) that it does not already own <a href="https://www.benzinga.com/25/01/42957657/biogens-push-for-sage-therapeutics-could-strengthen-its-neurology-strategy-analysts-say">for $7.22 per share</a>. Goldman Sachs analyst Salveen Richter believes the proposal makes strategic sense, considering the financial success of the Zurzuvae launch for postpartum depression (PPD).</li>



<li>GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>) <a href="https://www.benzinga.com/25/01/42950025/gsk-to-buy-us-based-stomach-cancer-drug-developer-for-over-1-billion">agreed to acquire</a> IDRx, Inc., a biopharmaceutical company focused on precision therapeutics for gastrointestinal stromal tumors (GIST), for $1 billion. The deal may require an additional $150 million from GSK after certain regulatory approval milestones. </li>



<li>Eli Lilly (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) scooped up Scorpion Therapeutics&#8217; early-stage <a href="https://www.benzinga.com/25/01/42949261/eli-lilly-scoops-up-scorpion-therapeutics-early-stage-cancer-program-for-25-billion">cancer program for $2.5 billion</a>. </li>



<li>Like Bristol-Myers Squibb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) and AbbVie Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>), Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) is seeking to bolster its neuropsychiatric portfolio<a href="https://www.benzinga.com/general/biotech/25/01/42948170/like-bristol-myers-squibb-and-abbvie-johnson-johnson-seeks-to-bolster-neuropsychiatric-portfolio-with-15-billion-deal"> with a $15 billion deal</a></li>



<li>Crown Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) offered to acquire all outstanding common shares of Revance Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RVNC#NASDAQ">RVNC</a>) at $3.10 per share.</li>



<li>Salarius Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLRX#NASDAQ">SLRX</a>) agreed to a deal with Decoy Therapeutics, a preclinical biotech focused on peptide conjugate therapeutics. The merged entity will target unmet needs in respiratory diseases and GI oncology.</li>



<li>Lantheus Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LNTH#NASDAQ">LNTH</a>) strengthens its radiopharmaceutical position with<a href="https://www.benzinga.com/m-a/25/01/42937565/lantheus-strengthens-radiopharmaceutical-leadership-with-350m-acquisition-of-life-molecular-imaging"> $350 million acquisition of Life Molecular Imaging</a>.</li>
</ul>



For last week&#8217;s edition of Deal Dispatch, <a href="https://www.benzinga.com/ma/25/01/42921113/deal-dispatch-td-bank-charles-schwab-eyenovia-smart-share-hit-auction-block">click here</a>.



Now Read:



<ul>
<li><a href="https://www.benzinga.com/real-estate/25/01/43055513/eccentric-billionaire-howard-hughes-former-miami-estate-on-market-for-55-5-million">Eccentric Billionaire, Legendary Filmmaker Howard Hughes&#8217; Former Miami Estate On Market For $55.5 Million</a></li>
</ul>



Image created with a photo from Shutterstock.

ABBV

BIIB

LNTH

NGVT

NPSCY

RVNC

SAGE

SANW

SLRX

TMUS

Deal Dispatch: Biden Punts TikTok Ban To Trump, Plus Another Legacy Retailer Goes Bankrupt

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.



The Dow, S&amp;P 500, and Nasdaq gained 3.7%, 2.9%, and 2.5% this week, respectively, with all three posting their strongest advances in weeks. 



A December inflation report, showing a 2.9% rise <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43003047/stocks-rise-on-core-inflation-slowdown-banks-rally-after-strong-q4-earnings-treasury-yields-plummet">and softer core inflation</a>, fueled optimism for potential Fed rate cuts this year. Financial stocks surged 6% as major banks reported stellar earnings, with Goldman Sachs jumping 11% to record highs. 



Meanwhile, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) crossed $100,000 amid optimism surrounding crypto-friendly policies expected under the <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43068335/wall-street-rallies-as-inflation-fears-recede-banks-smash-earnings-bitcoin-reclaims-100000-this-week-in-the-markets">incoming Trump administration.</a>



Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.



<h3 class="wp-block-heading">The Bulls</h3>



&#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43036902/tesla-stock-valuation-analyst-flags-long-term-growth-opportunities-robotaxis-fsd">Tesla Stock &#8216;Valuation Is Full&#8217;: Analyst Flags Long-Term Growth Opportunities With Robotaxis, FSD</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, discusses a Goldman Sachs analyst&#8217;s insights on Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), forecasting $115 million in 2027 revenue from robotaxis as Full Self-Driving (FSD) technology advances.



&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42993997/dogecoin-to-hit-new-all-time-high-after-trump-is-sworn-in-influencer-says-pattern-nearly-identical-to-last-inauguration">Dogecoin To Hit New All-Time High After Trump Is Sworn In? Influencer Says Pattern &#8216;Nearly Identical&#8217; To Last Inauguration</a>,&#8221; by <a href="https://www.benzinga.com/author/aniket-verma">Aniket Verma</a>, highlights speculation among influencers that Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) could replicate its post-inauguration rally from 2021, with one suggesting DOGE might double to $0.73 if historical patterns repeat.



&#8220;<a href="https://www.benzinga.com/analyst-ratings/initiation/25/01/43010706/doge-fears-for-defense-contractors-lockheed-martin-northrop-grumman-overblown-analyst-says">DOGE Fears For Defense Contractors Lockheed Martin, Northrop Grumman &#8216;Overblown,&#8217; Analyst Says</a>,&#8221; by <a href="https://www.benzinga.com/author/erica-kollmann">Erica Kollmann</a>, features an analyst initiating coverage on Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) and Northrop Grumman Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) with Buy ratings and targets of $579 and $544, dismissing concerns tied to Donald Trump's proposed Department of Government Efficiency as exaggerated.



For additional bullish calls of the past week, check out the following:



<a href="https://www.benzinga.com/25/01/42948649/goldman-sachs-warns-of-90-oil-risk-trump-may-not-ease-sanctions-once-he-takes-office">Oil Could Hit $90, Goldman Sachs Says: &#8216;Trump May Not Ease Sanctions&#8217; On Russia</a>



<a href="https://www.benzinga.com/24/12/42692787/private-prisons-poised-to-prosper-in-second-trump-term">CoreCivic, Geo Group Rally By Double Digits Since Election Day: Why Trump Boosts Private Prison Stocks</a>



<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43035566/taiwan-semiconductor-projects-ai-revenue-to-double-in-2025-highlights-advanced-packaging-as-growth-driver-analyst">Taiwan Semiconductor Projects AI Revenue To Double In 2025, Highlights Advanced Packaging As Growth Driver: Analyst</a>



The Bears



&#8220;<a href="https://www.benzinga.com/25/01/42960291/metas-content-moderation-changes-alarm-advertisers-as-zuckerberg-aligns-with-trump-and-musk">Meta&#8217;s Content Moderation Changes Alarm Advertisers as Zuckerberg Aligns with Trump and Musk</a>,&#8221; by <a href="https://www.benzinga.com/author/anusuya-lahiri-0">Anusuya Lahiri</a>, reports on Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) adopting a &#8220;free speech&#8221; content moderation style inspired by Elon Musk&#8217;s X, raising advertiser concerns over harmful content.



&#8220;<a href="https://www.benzinga.com/trading-ideas/short-ideas/25/01/43037214/drone-maker-red-cat-set-to-be-blown-out-of-the-sky-short-seller-claims-management-set-almost-impossible-expectations">Drone Maker Red Cat &#8216;Set To Be Blown Out Of The Sky&#8217;: Short Seller Claims Management Set &#8216;Almost Impossible&#8217; Expectations</a>,&#8221; by&nbsp;<a href="https://www.benzinga.com/author/adam-eckert">Adam Eckert</a>, covers Kerrisdale Capital's short position on Red Cat Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCAT#NASDAQ">RCAT</a>), arguing the company&#8217;s valuation is inflated by unrealistic expectations surrounding its U.S. Army SRR drone contract, which the firm says bears &#8220;almost no relationship to reality.&#8221;



&#8220;<a href="https://www.benzinga.com/25/01/42986042/apple-sees-market-share-decline-in-2024-as-chinese-smartphone-brands-surge-globally-idc">Apple Sees Market Share Decline in 2024 as Chinese Smartphone Brands Surge Globally: IDC</a>,&#8221; by <a href="https://www.benzinga.com/author/anusuya-lahiri-0">Anusuya Lahiri</a>, highlights Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) losing global market share to Chinese competitors like Xiaomi Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/XIACF#OTC">XIACF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/XIACY#OTC">XIACY</a>) as smartphone shipments grew 6.4% in 2024, driven by affordable premium offerings and aggressive pricing in emerging markets.



For more bearish takes, be sure to see these posts:



<a href="https://www.benzinga.com/25/01/42970112/nvidia-order-delays-and-ai-sanctions-threaten-global-sales-offer-growth-opportunity-for-us-tech-giants">US Semiconductor Sanctions Spell Trouble for Nvidia, But May Benefit Big Tech</a>



<a href="https://www.benzinga.com/government/regulations/25/01/43017875/southwest-airlines-is-sued-by-department-of-transportation-over-chronically-delayed-flights">Southwest Airlines Is Sued By Department Of Transportation Over &#8216;Chronically Delayed&#8217; Flights</a>



<a href="https://www.benzinga.com/25/01/42938301/michael-saylors-microstrategy-will-struggle-when-bitcoins-volatility-falls-says-arthur-hayesi-would-not-trade-mstr-at-all">Michael Saylor&#8217;s MicroStrategy Will Struggle When Bitcoin&#8217;s Volatility Falls, Says Arthur Hayes — I Would Not Trade MSTR At All</a>



Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.



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Benzinga Bulls And Bears: Tesla, Apple, Meta And Dogecoin Influencers See Pattern For Post-2025 Inauguration Rally

A benign December inflation report was all it took to ignite another strong rally on Wall Street, with major indices delivering their best weekly performance since the post-election <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43064144/wall-street-roars-ahead-of-trumps-inauguration-intel-rallies-bitcoin-tops-105000-whats-driving-markets-friday">surge in early November.</a>



Heading into the week, markets were gripped by concerns over inflation and interest rates, pricing in just one rate cut by year-end while the 30-year Treasury <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42990155/5-yields-fuel-demand-treasury-etfs-despite-bond-market-pain-relief-rally">yield hovered around 5%.</a>



Fresh data showed inflation rising for the third straight month up to 2.9%, yet right in line with forecasts. A softer core reading — excluding food and energy — gave traders hope that the Fed might cut rates at <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43003047/stocks-rise-on-core-inflation-slowdown-banks-rally-after-strong-q4-earnings-treasury-yields-plummet">least twice this year.</a>



Adding fuel to the bull run, major banks kicked off the fourth-quarter 2024 earnings season with blowout results.



Financial stocks — as tracked by the Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) — jumped 6% for the week, their best <a href="https://www.benzinga.com/news/earnings/25/01/43007354/big-banks-crush-q4-earnings-forecasts-financial-stocks-set-for-biggest-1-day-rally-since-trumps-election">rally since October 2023.</a> Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) led the charge among big players, surging 11% to hit record highs.



In commodities, oil briefly touched $80 per barrel before retreating after the approval of a ceasefire deal in Gaza <a href="https://www.benzinga.com/news/global/25/01/43055426/oil-dips-as-israeli-security-cabinet-approves-gaza-ceasefire-yet-experts-warn-red-sea-risks-persist">between Israel and Hamas.</a>



In cryptocurrency markets, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) continues to defy gravity, surpassing $100,000, fueled by optimism over crypto-friendly policies under the incoming Donald Trump administration.



Trump will officially take office as the 47th U.S. president on Monday.



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<h1 class="wp-block-heading">Bessent&#8217;s Economic Vision</h1>



Scott Bessent, Trump's Treasury secretary nominee, laid out his economic agenda before the Senate, emphasizing tax cuts, deregulation, energy expansion and tougher trade policies — particularly targeting <a href="https://www.benzinga.com/government/regulations/25/01/43041207/5-things-investors-need-to-know-about-scott-bessents-economic-policies-as-he-faces-senate-grilling-for-treasury-job">China, Russia and Iran.</a>



<h1 class="wp-block-heading">Bitcoin Reserve Talks</h1>



Reports suggest Trump is open to the idea of a U.S. strategic Bitcoin reserve, a move that could reshape fiscal policy and <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43035888/donald-trump-reportedly-open-to-us-crypto-reserve-as-bitcoin-reserve-chatter-gathers-steam">spark industrywide debate.</a>



<h1 class="wp-block-heading">Detroit EV Surge</h1>



Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) and General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) reported a sharp rise in electric vehicle sales, with the Mustang Mach-E and Cadillac Lyriq emerging <a href="https://www.benzinga.com/trading-ideas/25/01/42978236/us-electric-vehicle-sales-hit-record-1-3-million-units-in-2024-despite-tesla-declines-top-10-bestselling-models-list">as top sellers in 2024.</a>



<h1 class="wp-block-heading">TikTok Ban Upheld</h1>



The U.S. Supreme Court upheld a law forcing ByteDance to sell the TikTok app by Jan. 19 <a href="https://www.benzinga.com/general/social-media/25/01/43060894/supreme-court-upholds-tiktok-ban-ahead-of-trumps-inauguration">over national security concerns.</a> Trump could attempt to roll back the <a href="https://www.benzinga.com/general/social-media/25/01/43018125/trump-considers-executive-order-to-save-tiktok-from-being-banned-in-4-days">ban after taking office.</a>



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<li><a href="https://www.benzinga.com/25/01/43062563/imf-lifts-us-growth-outlook-betting-markets-raise-odds-on-trump-led-economic-boom">IMF Lifts US Growth Outlook, Betting Markets Raise Odds On Trump-Led Economic Boom</a></li>
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Photo: Shutterstock

Politics

Wall Street Rallies As Inflation Fears Recede, Banks Smash Earnings, Bitcoin Reclaims $100,000: This Week In The Markets

Elon Musk has stirred the pot with a recent post on X shifting &#8220;from MAGA to MEGA&#8221; to &#8220;Make Europe Great Again!&#8221;



What Happened: On Saturday, Musk&nbsp;took to X to express his new vision, transitioning from MAGA to MEGA. His post has since garnered significant attention, with over 28.7 million views.



<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">From MAGA to MEGA: Make Europe Great Again!&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1880536914690036015?ref_src=twsrc%5Etfw">January 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Musk&#8217;s post, &#8220;From MAGA to MEGA: Make&nbsp;Europe Great Again!&#8221; implies a shift in focus towards Europe, a region that has been a significant player in the global tech and automotive industries.



The slogan associated with Hungary&#8217;s hard-right Prime Minister Viktor Orban has sparked controversy among European political leaders.



Last week on Thursday, the European Commission demanded documents related to X&#8217;s &#8220;recommender systems,&#8221; which suggest content to users. 



Also Read: <a href="https://www.benzinga.com/general/health-care/25/01/42935746/is-elon-musks-mental-health-a-cause-for-concern-biographer-thinks-so">Is Elon Musk&#8217;s Mental Health a Cause for Concern? Biographer Thinks So</a>



&#8220;Today&nbsp;we are taking further steps&nbsp;to shed light on the&nbsp;compliance of X's recommender systems&nbsp;with the obligations under the&nbsp;DSA,&#8221; stated Henna Virkunnen,&nbsp;Executive Vice-President for Tech Sovereignty,&nbsp;Security and Democracy.



Why It Matters: Musk&#8217;s tweet comes at a time when Europe is striving to establish itself as a leader in the tech and automotive sectors. His call to &#8220;Make Europe Great Again&#8221; could be seen as a rallying cry for European innovation and progress.



As the CEO of&nbsp;Tesla Inc.&nbsp;and&nbsp;SpaceX, Musk&#8217;s words carry weight in the industry. His endorsement of Europe&#8217;s potential could stimulate further growth and investment in the region.



However, Musk&#8217;s post also raises questions about his future plans. Could this be a hint towards a greater European focus for his companies, or is it merely a commentary on the current global landscape? Only time will tell.



Read Next



<a href="https://www.benzinga.com/news/24/12/42496864/exclusive-eric-trump-calls-elon-musk-albert-einstein-of-our-time-says-tesla-ceo-will-help-build-a-stronger-america">EXCLUSIVE: Eric Trump Calls Elon Musk &#8216;Albert Einstein Of Our Time,&#8217; Says Tesla CEO Will Help Build &#8216;A Stronger America&#8217;</a>



Image: Shutterstock

Global

Tech

Elon Musk Sparks Controversy With Hard-Right 'Make Europe Great Again!' Post

Donald Trump&#8217;s renewed push for control of Greenland comes as Denmark announces a $2 billion Arctic defense upgrade. This upgrade points to the strategic value of an island that hosts America&#8217;s northernmost military installation and holds vast mineral wealth.



Located just 1,500 kilometers from the North Pole, Greenland&#8217;s Pituffik Space Base houses 200 U.S. military personnel and 450 allied forces, forming an important part of America&#8217;s missile warning system.&nbsp;



According to a report issued by the Financial Times, the base could be the reason Trump calls the acquisition &#8220;an absolute necessity&#8221; for national security.



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<li>According to Juniper Research, the total value of B2B cross-border payments stored on the blockchain is projected to exceed $4.4 trillion — <a href="https://www.benzinga.com/money/web3-enabler-future-of-enterprise-transactions">Join the first company to bring blockchain payments to Salesforce early with just $100.</a></li>
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Denmark&#8217;s Christmas Eve announcement of major military investments, including new ships, drones and expanded facilities for F-35 aircraft, follows Trump&#8217;s refusal to rule out using force to gain control of the island. Danish Foreign Minister Lars Løkke Rasmussen responded by offering to discuss &#8220;even more closely&#8221; coordinating with U.S. security interests.



The world&#8217;s largest island sits at a critical Arctic shipping crossroads and contains 25 of 34 minerals deemed strategically critical by European regulators, including materials essential for electric vehicles and military equipment. China&#8217;s <a href="https://www.benzinga.com/news/global/25/01/42884764/how-trump-could-impact-chinas-role-in-emerging-greenland-mining-frontier">dominant position in rare earth production</a> has heightened U.S. interest in the deposits.



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>



Despite Trump&#8217;s focus on security, Greenland&#8217;s 57,000 residents maintain strong independence aspirations. Prime Minister Mute Egede, who has accelerated pushes for sovereignty, firmly said Greenland &#8220;is not for sale.&#8221; The territory currently receives nearly $1 billion annually in Danish subsidies.



Denmark&#8217;s limited Arctic presence – just 75 troops in its Greenland Command – was highlighted when a stranded cruise ship waited four days for military rescue in 2023. The gap between responsibility and capability drives U.S. strategic concerns about Chinese and Russian Arctic ambitions.



While some Greenlandic officials privately welcome increased U.S. military presence, they resist any suggestion of replacing one colonial relationship with another. &#8220;We don&#8217;t want a new colonial power. But we can&#8217;t look after defence ourselves,&#8221; one official told the Financial Times.



Trump&#8217;s son Donald Jr.&#8217;s <a href="https://www.benzinga.com/news/global/25/01/42857403/trump-sends-don-jr-on-mission-to-get-the-deal-done-and-make-greenland-part-of-our-nation">arrival in Greenland last week</a> for what he called &#8220;a little bit of fun&#8221; has intensified speculation about future U.S. moves toward the strategic territory as climate change reshapes Arctic politics and economics.



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Startups

Why Trump Sees Greenland As A $2 Billion Security Deal

Chicago is preparing for a significant immigration raid less than 24 hours after Donald Trump takes the oath of office to begin his second term as president.



What Happened: The large-scale deportation raid in Chicago is slated to begin on Tuesday, immediately following Trump&#8217;s Monday inauguration. The action will be the initial phase of Trump&#8217;s pledge to deport millions of foreign nationals.



According to a report <a href="https://www.wsj.com/politics/policy/trump-to-begin-large-scale-deportations-tuesday-e1bd89bd?mod=e2tw">by</a> The Wall Street Journal, multiple sources involved in the immigration operation&#8217;s planning have learned that Immigration and Customs Enforcement (ICE) intends to deploy between 100 and 200 officers for this week-long operation.



Chicago Alderman Michael Rodriguez is taking steps to prepare his constituents for the upcoming raids, distributing legal advice on cards. However, the exact start time of the operation remains uncertain.



Tom Homan, Trump&#8217;s border czar Thomas Homan had previously declared his intention to make Chicago the focal point for mass deportations. He reaffirmed his commitment to this plan at a Republican event last month.



Also Read: <a href="https://www.benzinga.com/news/24/12/42715951/trump-backs-immigration-visas-musk-praises-his-stance-and-says-rising-tide-lifts-all-boats">Trump Backs Immigration Visas, Musk Praises His Stance and Says &#8216;Rising Tide Lifts All Boats&#8217;</a>



"We're going to start right here in Chicago, Illinois," Homan said at a holiday party on Chicago's North Side. "And if the Chicago mayor doesn't want to help, he can step aside. But if he impedes us, if he knowingly harbors or conceals an illegal alien, I will prosecute him."



Since late 2020, approximately 10 million people have migrated to the U.S., accounting for both legal and illegal arrivals and subtracting those who departed. This influx has alleviated labor shortages and contributed to faster economic growth.



Why It Matters: This impending mass deportation raid in Chicago represents a significant step in the implementation of Trump&#8217;s immigration policies. 



The scale of the operation, involving up to 200 officers, underscores the administration&#8217;s commitment to its hardline stance on immigration. The impact of this operation will likely be felt not just by the individuals targeted for deportation, but also by the broader community, as it grapples with the social and economic implications of such a large-scale action. 



The response of local officials such as Rodriguez highlights the tension between federal immigration policies and local community interests.



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Image: Shutterstock

Chicago Braces For Massive Immigration Raid Hours After Donald Trump's Second Inauguration

Despite his well-known disdain for cryptocurrencies, the &#8216;Oracle Of Omaha&#8217; &#8211; Warren Buffett&#8216;s Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) has invested in a company that supports the cryptocurrency market and has soared by 27.43% in 2024.



What Happened: Buffett&#8217;s Berkshire had <a href="https://www.benzinga.com/personal-finance/24/05/39093145/berkshire-hathaway-profits-f[%E2%80%A6]to-despite-warren-buffets-stance-on-not-buying-even-if-all-w">initially</a> invested $500 million in a Series G funding round and subsequently another $250 million in Nu Holdings Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NU#NYSE">NU</a>). 



Nu, a Brazilian digital banking company launched its cryptocurrency platform, Nubank Cripto, in 2022. Berkshire has since added 0.3% of this company&#8217;s shares in 18 months as of the quarter ended Sept. 30, 2024. 



Berkshire increased its holdings from 0.1% in the fourth quarter that ended Dec. 31, 2022, to 0.4% in the third quarter of fiscal 2025.



Initially supporting Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), and Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/matic/usd">MATIC</a>), the platform, Nubank Cripto, now includes Uniswap (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/uni/usd">UNI</a>) and Chainlink (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/link/usd">LINK</a>). It allows users to send, receive, and convert cryptocurrencies, including stablecoins like USD Coin.



In 2018, during Berkshire Hathaway Inc.&#8217;s annual <a href="https://www.benzinga.com/general/24/03/37513063/warren-buffett-says-he-wouldnt-pay-25-for-all-the-bitcoin-in-the-world-he-considers-crypto-rat-poiso">shareholder</a> meeting, Buffett famously described Bitcoin as &#8220;probably rat poison squared&#8221;. On the contrary, Berkshire has profited substantially through its investment in Nu.



See Also: <a href="https://www.benzinga.com/25/01/42908280/intel-aims-for-cpu-market-share-growth-ai-breakthroughs-citi-reiterates-neutral-as-new-ceo-appointment-expected-in-coming-months">Intel Stock Has Fallen Over 58% In 1 Year, But Citi Maintains &#8216;Neutral&#8217; Rating On Expected Replacement Of Pat Gelsinger In A &#8216;Couple Of Months&#8217;</a> 



Why It Matters: According to its 13F filings, Berkshire held 86.438 million shares of Nu valued at $1.179 billion, as of the end of the third quarter.



With data for the fourth quarter not available at the time of writing, assuming that Berkshire&#8217;s holdings in Nu don&#8217;t change during this period, the value of these shares would have declined by 24.10% as of the quarter ended Dec. 31, when the share price was $10.36, as compared to $13.65 on Sept. 30, 2024.



However, Nu&#8217;s shares have risen by 27.43% in 2024, according to the data compiled by <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.



<figure class="wp-block-image size-large"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/13074755/nu-in-2024-1024x576.png" alt="" class="wp-image-730370" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/13074755/nu-in-2024-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/13074755/nu-in-2024-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/13074755/nu-in-2024-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/13074755/nu-in-2024-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/13074755/nu-in-2024.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



While Nu offers cryptocurrency services, one can argue in favor of Buffett that it&#8217;s not primarily a cryptocurrency company.



However, back in <a href="https://www.benzinga.com/general/24/03/37513063/warren-buffett-says-he-wouldnt-pay-25-for-all-the-bitcoin-in-the-world-he-considers-crypto-rat-poiso">2018</a>, Buffett also said &#8220;In terms of cryptocurrencies generally, I can say almost with certainty that they will come to a bad ending.&#8221;



Read Next:



<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/01/42938954/michael-saylors-microstrategy-faces-risk-if-mstrs-0-convertible-bond-lenders-recall-non-recourse-loans-due-to-covenant-breach-heres-what-it-means-for-investors">Michael Saylor&#8217;s MicroStrategy Faces Risk If MSTR&#8217;s 0% Convertible Bond Lenders Recall Non-Recourse Loans Due To Covenant Breach: Here&#8217;s What It Means For Investors</a></li>
</ul>



Photo courtesy: Shutterstock

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$LINK

$MATIC

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LINK

Warren Buffett Openly Called Bitcoin A 'Rat Poison' In 2018. 7 Years Later, He Is Invested In This Crypto-Linked Stock Which Soared 27% In 2024

The crypto world is abuzz as&nbsp;Donald Trump&#8216;s new Solana-based (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) memecoin &#8220;OFFICIAL TRUMP&#8221; (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>), skyrocketed over 260% ahead of his inauguration on Jan. 20.



What Happened: Trump&#8217;s social media posts promoting the coin have sparked skepticism about the authenticity of the messages.



In a post on Saturday, Trump announced,&nbsp;"My NEW Official Trump Meme&nbsp;is HERE! It's time to&nbsp;celebrate everything we stand for:&nbsp;WINNING! Join my very special&nbsp;Trump Community. GET YOUR TRUMP&nbsp;NOW."



<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">My NEW Official Trump Meme is HERE! It's time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR <a href="https://twitter.com/search?q=%24TRUMP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TRUMP</a> NOW. Go to <a href="https://t.co/GX3ZxT5xyq">https://t.co/GX3ZxT5xyq</a> — Have Fun! <a href="https://t.co/flIKYyfBrC">pic.twitter.com/flIKYyfBrC</a>&mdash; Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1880446012168249386?ref_src=twsrc%5Etfw">January 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The memecoin, trading at $23.20, reached&nbsp;a market capitalization of more than $4 billion, according <a href="https://coinmarketcap.com/dexscan/solana/A8nPhpCJqtqHdqUk35Uj9Hy2YsGXFkCZGuNwvkD3k7VC/">to</a> data from Coinmarketcap. 



Crypto trader&nbsp;Edward Morra&nbsp;predicted potential market sell-offs, while commentator&nbsp;Daniel Got Hits&nbsp;expressed skepticism despite sensing legitimacy. Analyst&nbsp;Will Clemente&nbsp;noted Solana&#8217;s price surge of 4.12%, reaching $228, as investors rushed to buy TRUMP.



Why It Matters: Trump's return to the White House has sparked speculation about his potential impact on the cryptocurrency market.



Reports indicate that Trump plans to issue&nbsp;<a href="https://www.benzinga.com/25/01/43073027/trump-plans-crypto-friendly-executive-orders-in-early-days-of-presidency-report">crypto-friendly executive orders</a>&nbsp;soon after taking office. These orders are expected to ease regulatory burdens on digital asset firms and promote cryptocurrency adoption.



Additionally, Trump is anticipated to establish a crypto advisory council, a concept he proposed earlier.



Moreover,&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43062997/exclusive-how-donald-trumps-crypto-plans-will-bitcoin-xrp-solana">experts are divided</a>&nbsp;on the likelihood of immediate executive actions, though many are optimistic about the short-term market outlook.



The potential for Trump to mention cryptocurrency during his inauguration speech is also being closely watched, with a&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43065423/donald-trump-to-mention-bitcoin-or-crypto-at-the-inauguration-polymarket-traders-say-theres-a-chance">31% chance</a>&nbsp;according to Polymarket traders.



Price Action: At the time of writing, TRUMP was trading at $23.20, gaining over 260% over the past 24 hours, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.



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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Photo courtesy: Shutterstock

'Official Trump' Memecoin Jumps Over 260% Ahead Of President-Elect's White House Inauguration: Market Cap Reaches Whopping $4 Billion Within 8 Hours Of Launch

President-elect&nbsp;Donald Trump&nbsp;is reportedly preparing to issue executive orders aimed at fostering a more favorable environment for cryptocurrency firms. These actions are anticipated to occur shortly after he assumes office, marking a significant shift in the regulatory landscape for digital assets.



What Happened:&nbsp; Trump intends to utilize executive powers to ease regulatory burdens on cryptocurrency companies and promote the adoption of digital assets, according to a report by Reuters.



Trump, who has openly supported cryptocurrency,&nbsp;is expected to sign an&nbsp;executive order to establish a crypto advisory council, a concept he initially proposed in July, according to two anonymous sources familiar with the discussions.



Media reports earlier Trump&#8217;s plan to create&nbsp;a crypto council, which would&nbsp;provide guidance on crypto-friendly policies.



The council may consist of up to 20 members, as per one source.



Additionally, Trump&#8217;s advisers are considering an executive order directing the&nbsp;Securities and Exchange Commission&nbsp;to revoke the 2022 accounting guidance &#8220;SAB 121,&#8221; which has been costly for some companies, especially banks, to hold cryptocurrencies for third parties.



Trump is also poised to terminate &#8220;Operation Choke Point 2.0,&#8221; a term used by crypto executives to describe alleged efforts by bank regulators to exclude crypto companies from traditional financial systems. Bank regulators have denied such claims.



If executed, these policy directives could significantly advance cryptocurrency into the mainstream, contrasting with President&nbsp;Joe Biden&#8216;s administration&#8217;s strict regulatory stance.



Why It Matters: The potential executive orders align with Trump&#8217;s broader strategy to prioritize cryptocurrency as a national focus. Trump plans to <a href="https://www.benzinga.com/25/01/43047039/trump-planning-to-declare-cryptocurrency-as-national-priority-increase-engagement-with-industry-report">declare cryptocurrency a national priority</a>, encouraging government agencies to engage with the growing industry.



This comes as Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) market valuation recently surpassed $2 trillion, highlighting the sector&#8217;s increasing significance.



Furthermore,&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43062997/exclusive-how-donald-trumps-crypto-plans-will-bitcoin-xrp-solana">cryptocurrency experts</a>&nbsp;are divided on the likelihood of immediate executive orders but remain optimistic about the market&#8217;s near-term outlook.



The potential for Trump to mention cryptocurrency during his inauguration speech is also being speculated, with&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43065423/donald-trump-to-mention-bitcoin-or-crypto-at-the-inauguration-polymarket-traders-say-theres-a-chance">Polymarket traders</a>&nbsp;giving it a 31% chance of happening.



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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Image created via photos on Shutterstock

Trump Plans Crypto-Friendly Executive Orders In Early Days Of Presidency: Report

Mark Cuban is leaving no room for doubt when it comes to Kevin O'Leary's plan to buy TikTok's U.S. operations. The billionaire investor and &#8220;Shark Tank&#8221; star <a href="https://x.com/mcuban/status/1879028970726826132">took to X</a> to critique the bid, calling it a long shot and warning O'Leary about the risks involved. Cuban's message to him is to think twice before diving into this deal, especially without a clear path to success.



<h2 class="wp-block-heading">O'Leary and McCourt Make Their Move</h2>



Frank McCourt, the former owner of the Los Angeles Dodgers, has teamed up with Kevin O'Leary to buy TikTok from its Chinese parent company, ByteDance. <a href="https://www.benzinga.com/general/entertainment/25/01/42834240/kevin-oleary-joins-the-peoples-bid-for-tiktok-as-pending-ban-looms">Dubbed The People's Bid for TikTok,</a> their proposal aims to acquire TikTok's U.S. assets, rebuild the app with American-designed technology and ensure user privacy.



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The bid comes at a critical time. <a href="https://www.benzinga.com/25/01/42919029/supreme-court-hears-tiktok-oral-arguments">The Supreme Court is set to review</a> a U.S. law that could ban TikTok starting Jan. 19, 2025, unless it's sold. However, ByteDance has repeatedly said it's <a href="https://www.benzinga.com/general/social-media/25/01/42994923/mrbeast-discussing-buying-tiktok-with-billionaires-to-prevent-us-shutdown-lets-see-if-we-can-pull-this-off">not interested in selling TikTok – </a>and experts are also questioning whether the platform can survive without its famous algorithm, which is excluded from any potential sale due to Chinese export controls.



<h2 class="wp-block-heading">Cuban's Concerns</h2>



Mark Cuban doesn't see O'Leary's plan working out. In his X thread, Cuban predicted that O'Leary would tell ByteDance and its bankers to accept the deal as a way to avoid TikTok being shut down in the U.S. However, Cuban doubts the viability of such a move, highlighting several major obstacles:



<ul>
<li>Ad revenue isn't what it used to be: Cuban argued that O'Leary's plan to rely on advertising revenue to sustain TikTok's U.S. operations isn't realistic in today's market.</li>



<li>User retention will be tough: Keeping users engaged without the original TikTok algorithm will be a significant challenge, especially with other platforms eager to poach its audience.</li>



<li>ByteDance likely won't sell: Cuban doubts ByteDance would agree to sell TikTok, calling it a $300 billion asset that wouldn't be off-loaded for a fraction of its value.</li>



<li>Competitors are ready to pounce: With every major platform eyeing TikTok's users, rebuilding from scratch will be an uphill battle.</li>
</ul>



Trending: ‘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>



Cuban ended his thread with a stark warning: "When you sit at the negotiating table, you always look for the sucker. If you don't see one …"



<h2 class="wp-block-heading">A Risky Plan to Rebuild TikTok</h2>



O'Leary and McCourt insist they don't need the original TikTok algorithm to succeed. They've proposed creating a new algorithm to power the platform, with backing from Guggenheim Securities and prominent technologists like Tim Berners-Lee, the inventor of the World Wide Web.



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<li>According to Juniper Research, the total value of B2B cross-border payments stored on the blockchain is projected to exceed $4.4 trillion — <a href="https://www.benzinga.com/money/web3-enabler-future-of-enterprise-transactions">Join the first company to bring blockchain payments to Salesforce early with just $100.</a></li>
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Mark Cuban Warns Kevin O'Leary About TikTok Purchase: If You Can't See The Sucker At The Negotiation Table, It's You

Cryptocurrency markets are surging on the last trading day before the presidential inauguration. 



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>$105,607.81</td><td>+5.6%</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$3,426.67</td><td>+2.8%</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>$216.86</td><td>+1.7%</td></tr><tr><td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$3.24</td><td>-4%</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.4148</td><td>+7.6%</td></tr><tr><td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.00002403</td><td>+7.5%</td></tr></tbody></table></figure>



Notable Statistics:



<ul>
<li>IntoTheBlock data shows large transaction volume increasing by 6.4% and daily active addresses falling by 2.9%. Transactions greater than $100,000 are up from 11,601 to 12,233 in a single day. Exchanges netflows are down by 268%.</li>



<li>Coinglass data reports 94,646 traders were liquidated in the past 24 hours for $285.01 million.</li>
</ul>



Notable Developments:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43062518/2025-to-see-dogecoin-etf-strategic-bitcoin-reserve-microstrategy-of-ethereum-predicts-crypto-hedge-fund">2025 To See Dogecoin ETF, Strategic Bitcoin Reserve, &#8216;MicroStrategy Of Ethereum,&#8217; Predicts Crypto Hedge Fund</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43062997/exclusive-how-donald-trumps-crypto-plans-will-bitcoin-xrp-solana">EXCLUSIVE: How Donald Trump&#8217;s Crypto Plans Will Impact Bitcoin, XRP, Solana</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43053129/bitcoin-miners-consolidate-power-12-firms-now-control-30-of-network-hash-rate">Bitcoin Miners Consolidate Power: 12 Firms Now Control 30% Of Network Hash Rate</a></li>
</ul>



Top Gainers:



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>SPX6900 (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">SPX</a>)</td><td>$1.48</td><td>+43.1%</td></tr><tr><td>OKB (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">OKB</a>)</td><td>$57.26</td><td>+15.3%</td></tr><tr><td>THORChain (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/rune/usd">RUNE</a>)</td><td>$4.04</td><td>+14.4%</td></tr></tbody></table></figure>



Trader Notes: Bitcoin has reached the $105,000 mark, fueled by speculation that President-elect Donald Trump may announce a &#8220;Strategic&#8221; Bitcoin Reserve.



Economist Peter Schiff <a href="https://x.com/PeterSchiff/status/1880301563450913059">expressed</a> concerns, hoping Trump won't compromise the country&#8217;s integrity just to benefit Bitcoin donors. 



He warns that such a reserve could lead to higher inflation and a weaker economy.



Crypto chart analyst Ali Martinez pointed out that Bitcoin has broken out of a cup-and-handle pattern, suggesting a potential upside target of $276,400.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> has broken out of a cup-and-handle pattern, signaling a potential upside target of $276,400! <a href="https://t.co/7FMhuiEBhS">pic.twitter.com/7FMhuiEBhS</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1880274881989996750?ref_src=twsrc%5Etfw">January 17, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Crypto trader Stoic observed that Bitcoin has reclaimed a key level from the Dec. 18 sell-off, now 5% above the HTF range value. 



He <a href="https://x.com/Stoiiic/status/1880322637882355791">believes</a> that if Bitcoin stabilizes, altcoins could have room to perform over the weekend.



Crypto trader Jelle highlighted a spot-driven rally that breached a key level, signaling strong momentum. He predicts that if Bitcoin closes the day around $104,738, the path will be clear for new all-time highs.



<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">Level breached on a spot-driven rally. Just what I like to see. Very little resistance left &#8212; close the day anywhere around these levels and new all-time highs will come very, very soon.<a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/kAhrPCMa9x">pic.twitter.com/kAhrPCMa9x</a>&mdash; Jelle (@CryptoJelleNL) <a href="https://twitter.com/CryptoJelleNL/status/1880320231815671941?ref_src=twsrc%5Etfw">January 17, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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Image: Shutterstock

$OKB

$RUNE

Bitcoin, Ethereum, Dogecoin Chasing New Highs But XRP Dwindling: 'Weekend Probably Gives Alts Breathing Room,' Trader Says

President-elect Donald Trump is set to move back into the White House on Monday after he officially assumes office, kicking off a flurry of speculation about immediate crypto-relation action, such as <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43035888/donald-trump-reportedly-open-to-us-crypto-reserve-as-bitcoin-reserve-chatter-gathers-steam">support for a U.S. crypto reserve</a>.



Benzinga talked to cryptocurrency experts, who are divided on the likelihood of <a href="https://www.benzinga.com/25/01/43047039/trump-planning-to-declare-cryptocurrency-as-national-priority-increase-engagement-with-industry-report">immediate executive orders</a>, but largely bullish on the near-term market outlook.



<h2 class="wp-block-heading">Will Trump Sign A Crypto Executive Order On Day 1?</h2>



The prospect of executive orders on day one is a source of debate among the experts, however, most agree that the move is highly probable in the near future.



Marcin Kazmierczak, co-founder &amp; COO of Redstone, stated his view that any orders will likely emerge in the weeks following the inauguration, rather than on day one, due to the numerous pressing issues new administrations face.



Vijay Pravin Maharajan, CEO and Founder of bitsCrunch, however, suggests that decisive early action, such as executive orders, could be a strategic move for the incoming President to project an image of immediate success and capitalize on the markets.



Aurelie Barthere, Principal Research Analyst at Nansen, indicated that the idea of a <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43056350/maga-memecoin-leads-trump-meme-rally-as-strategic-bitcoin-reserve-speculation-intensifies">strategic Bitcoin reserve</a> is not likely to be a unanimous preference and will require building consensus in Congress.



<h2 class="wp-block-heading">What Trump 2.0 Means For The Crypto Markets</h2>



Concerning near-term market behavior, Kazmierczak expects a positive market response to what he calls favorable <a href="https://www.benzinga.com/government/regulations/25/01/42997294/trumps-crypto-legislation-will-be-a-frankenstein-bill-of-mishmash-says-arthur-hayes-bitcoin-doesnt-need-government-support-to-flourish">regulatory changes</a>.



This sentiment is echoed by Maharajan, who predicts a post-inauguration rally, especially if Trump makes explicit pro-crypto statements. 



Barthere has stated that a drop in interest rates could provide a positive impulse for crypto, and the markets currently have &#8220;some juice&#8221; for risk assets.



James Toledano, Chief Operating Officer at Unity Wallet, highlighted the importance of factors beyond political influence and focused on "adoption, regulation and macroeconomic factors" as the real drivers of Bitcoin prices.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43059401/bitcoin-spikes-to-104000-traders-eye-130000-target-in-late-january">Bitcoin Spikes To $104,000, Traders Eye $130,000 Target In Late January</a>



<h2 class="wp-block-heading">A Strategic Bitcoin Reserve: Yay Or Nay?</h2>



The possibility of a <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41770352/bitcoins-future-under-president-elect-donald-trump-a-look-at-his-crypto-policies">U.S. crypto reserve</a> is a notable point of discussion among the experts.



Kazmierczak highlighted the significant potential for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) if it is recognized by the largest economy, adding that this could represent a fundamental shift in the market. 



Barthere stated her belief that such a move would provide a &#8220;very bullish&#8221; outlook for crypto, "legitimizing it as an asset class," and signaling potential action to institutional investors. 



Maharajan further added that this inclusion could reinforce the dollar's strength and signal commitment to leading the digital asset space.



<h2 class="wp-block-heading">Here&#8217;s Which Crypto Assets Experts Tip To Do Well</h2>



Kazmierczak stated he believes that the <a href="https://www.benzinga.com/money/what-is-defi#:~:text=DeFi%20is%20possible%20through%20the,without%20anyone%20watching%20over%20them.">DeFi sector</a> may see outperformance, if the environment for the sector improves.



Barthere named BTC because of its ‘reserve currency' narrative, but also tips Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), Ripple (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) as well as the whole AI narrative to do well.



Maharajan suggested that Trump might favor U.S.-created crypto like XRP and Solana, in keeping with his &#8220;America First&#8221; ideology, adding, &#8220;Bitcoin will of course do extremely well.&#8221;



The consensus among the experts is that Trump's inauguration will be a significant event for the crypto market, with the potential for significant <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43033465/solana-is-a-stronger-investment-than-bitcoin-ethereum-crypto-asset-management-firm-states">price action and policy changes</a>.



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</ul>



Image: Shutterstock

EXCLUSIVE: How Donald Trump's Crypto Plans Will Impact Bitcoin, XRP, Solana

Big Tech leaders are again in the spotlight for their substantial financial support of President-elect Donald Trump's inauguration. Mark Cuban has offered his take, explaining on X competitor <a href="https://bsky.app/profile/did:plc:y5xyloyy7s4a2bwfeimj7r3b/post/3lewlfnga5c2n">Bluesky</a> why tech giants like <a href="https://www.benzinga.com/tech/24/12/42479253/jeff-bezos-amazon-pledges-1-million-to-trumps-inaugural-event-following-in-the-footsteps-of-mark-zuckerberg-and-meta">Jeff Bezos</a>, <a href="https://www.benzinga.com/news/24/12/42454227/months-after-trump-threatened-to-put-mark-zuckerberg-in-prison-meta-ceo-donates-1m-to-president-elects-inaugural-event">Mark Zuckerberg</a>, Elon Musk, Sundar Pichai and <a href="https://www.benzinga.com/25/01/42801809/apple-ceo-tim-cook-reportedly-donates-1-million-to-trump-inauguration-joins-ranks-of-mark-zuckerberg-jeff-bezos-and-sam-altman">Tim Cook</a> align with Trump.



<h2 class="wp-block-heading">The AI Power Struggle</h2>



Cuban argues this isn't about admiration for Trump but a calculated move in the fierce battle for dominance in artificial intelligence (AI). He calls this competition &#8220;the penultimate global power war,&#8221; with major players racing to establish their platforms as globally dominant.



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Amazon's Anthropic, Meta's Llama, Google's Gemini, Twitter's Grok and Microsoft and Apple's partnership with ChatGPT compete for the top spot in AI. Cuban stressed that these companies can't afford for Trump to &#8220;put his thumb on the scale&#8221; with policies favoring one over the others. &#8220;Giving millions and kissing the ring when trillions are at stake is nothing,&#8221; he said.



<h2 class="wp-block-heading">Record-Breaking Donations</h2>



Trump's inaugural committee has <a href="https://www.benzinga.com/news/25/01/42805137/trump-supporters-kick-in-more-than-200-million-for-inauguration-and-political-operations">already raised over $200 million – </a>a historic record. Big Tech's contributions are a key part of this total. Amazon, Meta, <a href="https://www.benzinga.com/news/management/24/12/42485193/sam-altman-to-donate-1m-to-trumps-inauguration-fund-following-zuckerberg-bezos-eager-to-support">OpenAI's Sam Altman</a> and <a href="https://www.benzinga.com/24/12/42660866/trump-gets-ford-vehicles-1m-for-inauguration-will-musk-respond-or-could-he-ride-in-rival-vehicle">Ford</a> have donated $1 million, while Tim Cook contributed another $1 million, emphasizing the inauguration's role as a unifying tradition. However, Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has not made a corporate donation.



Retail trading platform Robinhood (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) has <a href="https://www.benzinga.com/markets/equities/24/12/42546903/robinhood-pledges-2-million-to-trumps-inaugural-fund-criticizes-bidens-crypto-and-ai-policies-amid-236-stock-surge">donated $2 million</a>, citing its interest in the administration's policies on regulation and cryptocurrencies.



See Also: Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.



<h2 class="wp-block-heading">Why Trump?</h2>



Cuban views this support as a necessity. &#8220;Neither Biden nor Trump understands technology,&#8221; Cuban said, &#8220;but one is transactional, the other was obstinate.&#8221; He criticized President Joe Biden for failing to engage with tech leaders, calling it &#8220;one of the all-time blunders&#8221; and saying he &#8220;bears a lot of responsibility for this mess.&#8221; This lack of outreach, Cuban claimed, pushed tech giants into Trump's camp.



While Cuban acknowledged there are &#8220;things to despise (and admire)&#8221; about these companies, he added that &#8220;it's in the interest of national security and our economy for the dominant AI companies to be American.&#8221;



<h2 class="wp-block-heading">A Survival Game</h2>



Cuban compared this competition to Survivor, with companies scrambling to avoid becoming irrelevant like IBM – a former tech titan now considered &#8220;an afterthought.&#8221; He hoped that antitrust actions might address some of the industry&#8217;s more problematic practices.



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HOOD

'Giving Millions And Kissing The Ring When Trillions Are At Stake Is Nothing,' Says Mark Cuban, Explaining Why Big Tech Supports Trump

Dogecoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) market valuation has soared to $61.4 billion as the &#8220;<a href="https://www.benzinga.com/money/dogecoin-doge-price-prediction">king of memes</a>&#8221; spiked 10% overnight.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Market Cap</td><td>24-Hour Trend</td><td>7-Day Trend</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>&nbsp;$0.415</td><td>$61.4 billion</td><td>+10.4%&nbsp;</td><td>+23.7%&nbsp;</td></tr><tr><td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>&nbsp;$0.00002438</td><td>$14.4 billion</td><td>+10.3%&nbsp;</td><td>+12.6%&nbsp;</td></tr><tr><td>Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>)</td><td>&nbsp;$0.00001999</td><td>$8.4 billion</td><td>+8.3%&nbsp;</td><td>+12.7%&nbsp;</td></tr></tbody></table></figure>



Trader Notes: Prominent technical analyst Kevin has identified the $0.4155 level (0.786 Fibonacci) as the key target following Dogecoin's breakout. 



Breaking this resistance could pave the way for revisiting previous highs and potentially surpassing them. 



<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">Break the .786 at .4155 is the next mission here after the perfect breakout call. If we do then revisiting the highs and beyond is next. Patreon members are printing heavy of <a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a>. We love some <a href="https://twitter.com/hashtag/DOGE?src=hash&amp;ref_src=twsrc%5Etfw">#DOGE</a> <a href="https://t.co/WFhtqVlBb4">pic.twitter.com/WFhtqVlBb4</a>&mdash; Kevin (@Kev_Capital_TA) <a href="https://twitter.com/Kev_Capital_TA/status/1880175090031292883?ref_src=twsrc%5Etfw">January 17, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Johnny, another crypto trader, highlighted retail investors&#8217; recent success with XRP, which surged from $0.50 to $3.40 in mere weeks. 



He predicts DOGE could similarly trend higher, with retail enthusiasm potentially pushing it past $1. 



This rally may <a href="https://x.com/CryptoGodJohn/status/1880078238959239177">coincide</a> with Donald Trump's inauguration and Elon Musk's influence, igniting what he calls &#8220;Doge season&#8221; as early as Monday.



Prominent trader Unipcs <a href="https://x.com/theunipcs/status/1880180717709099155">echoed</a> this sentiment, forecasting DOGE to become the first $100 billion meme coin, riding momentum from the formation of the <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41734897/elon-musks-doge-department-mention-gives-dogecoin-boost-to-top-of-daily-gainers-memecoin-s">Department of Government Efficiency</a>.



Statistics: Whale Alert data shows around 600 million DOGE was transferred between unknown wallets in two different transactions.  



In <a href="https://x.com/whale_alert/status/1880140296039637264">one</a> 200 million DOGE, worth 77.3 million, and in the <a href="https://x.com/whale_alert/status/1880142435264729185">second</a> 400 million DOGE, worth $154.3 million, were transferred. 



Both transactions originated from addresses among the richest Dogecoin wallets, sparking potential price volatility.



Coinglass data shows open interest spiked 17.1% to $5.4 billion while DOGE derivatives volume maximized by 30.9% to $10.3 billion.



Read Next:&nbsp;



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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43037301/dogecoin-surges-21-in-7-days-why-is-doge-going-up">Dogecoin Surges 21% In 7 Days: Why Is DOGE Going Up?</a></li>
</ul>



Image: Shutterstock

$PEPE

Dogecoin Rallies 10% To 41 Cents: How High Can DOGE Go?

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