Hancock Whitney (NASDAQ:HWC) Bolsa

HANCOCK WHITNEY CORP

Hancock Whitney

Hancock Whitney Corp operates bank offices and financial centers. The company offers a range of traditional and online banking services to commercial, small business, and retail customers, providing a variety of transaction and savings deposit products, treasury management services, secured and unsecured loan products (including revolving credit facilities), letters of credit, and similar financial guarantees. The Bank provides trust and investment management services to retirement plans, corporations, and individuals and provides its customers access to investment advisory and brokerage products.

Hancock Whitney Corporation - Common Stock

Hancock Whitney Corp

Hancock Whitney Corporation - 6.25% Subordinated Notes due 2060

President Donald Trump <a href="https://www.benzinga.com/news/politics/25/07/46263434/trump-signs-sweeping-tax-and-spending-bill-that-cbo-says-will-add-3-3-trillion-to-us-deficit-cut-health-coverage-for-11-8-million-americans">signed the tax and spending bill</a> earlier this month, which introduces significant changes to federal student loan programs. This move has sparked a debate on how the funding gap will be filled.
What Happened: As part of the new bill, new limits on federal student loans for parents and graduate students will be imposed starting from July 1, 2026. Under the new rules, parents can borrow up to $20,000 per year, with a lifetime cap of $65,000 per student, through the federal Parent PLUS program, reported <a href="https://www.nytimes.com/2025/07/12/your-money/student-loan-limits.html">the</a> New York Times.
Graduate students will face an annual borrowing limit of $20,500 and a total cap of $100,000, not counting any undergraduate debt. Meanwhile, students in professional programs — like medical or law school — will generally be limited to $50,000 per year and $200,000 overall.
See Also: <a href="https://benzinga.com/markets/cryptocurrency/24/01/36721989/jim-cramer-bearish-at-40k-unlikely-that-bitcoin-finds-its-footing-cramertracker-replies-le" target="_blank" rel="noopener">Jim Cramer Bearish At $40K: &#8216;Unlikely That Bitcoin Finds Its Footing,&#8217; CramerTracker Replies: &#8216;Legend, Thanks Jim!&#8217;</a>
These changes are expected to create a funding gap, potentially leading to a surge in private student loan lenders. The question remains whether these lenders will offer fair interest rates and terms.
Why It Matters: The new regulations, which were signed into law by President Trump earlier this month, are expected to have a significant impact on the student loan industry.
Private lenders like SoFi Technologies, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>) are poised to benefit from these changes, as they are likely to see an <a href="https://www.benzinga.com/markets/tech/25/07/46284237/sofi-ready-to-capture-the-opportunity-as-trumps-big-beautiful-plan-restricts-federal-student-loans">increase in demand</a> for their services.
The bill has been met with criticism from Sen. Elizabeth Warren (D-Mass.) and former Treasury Secretary Lawrence Summers, who have <a href="https://www.benzinga.com/news/politics/25/07/46311721/elizabeth-warren-says-gop-chose-trump-over-american-people-slams-big-beautiful-bill-for-potentially-ushering-health-care-cuts-price-hikes">voiced their concerns</a> about the potential consequences of the bill, including significant impacts on working American families.
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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: Maxim Elramsisy / Shutterstock.com

Education

Economics

SOFI

Trump's Spending Bill Limits Student Loans, Sparks Funding Gap Concerns

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) raced past $121,000 overnight Sunday, capping a historic week on a high.
What happened: The apex cryptocurrency hit an all-time high of $121,209 around midnight, with trading volume jumping 34% to $61.36 billion in the last 24 hours
Bitcoin broke milestones this week, first <a href="https://www.benzinga.com/crypto/25/07/46334779/bitcoin-breaks-112000-ethereum-dogecoin-surge-amid-growing-institutional-interest-nvidia-driven-tech-rally-experienced-trader-peter-brandt-says-i-am-long-btc">surpassing its previous high</a> of $112,000, and there has been no going back since.
Strong institutional demand fueled the rally, with Bitcoin exchange-traded funds raking in about $2.72 billion in net inflows last week,&nbsp;<a href="https://sosovalue.com/assets/etf/Total_Crypto_Spot_ETF_Fund_Flow?page=usBTC" target="_blank" rel="noreferrer noopener">according&nbsp;</a>to SoSo Value.
Price Action:&nbsp; At the time of writing, Bitcoin eased at $121,008.78, up 2.71% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. The coin rose over 10% in the last week, and 28% year-to-date.
Photo Courtesy: PV productions on Shutterstock.com
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

News

Markets

Movers

Trading Ideas

$BTC

$ETH

Bitcoin Zooms Past $121,000 To Finish Historic Week: What's Fueling The Rally?

Former New Jersey Governor Chris Christie (R) says it&#8217;s the White House and not Attorney General Pam Bondi who pulled the plug on publicly releasing a Justice Department review that discredits popular conspiracy theories about Jeffrey Epstein's death and any supposed "client list."
What Happened: Christie told ABC's "This Week" <a href="https://abcnews.go.com/Politics/week-transcript-7-13-25-white-house-nec/story?id=123708097">that</a> President Donald Trump is now rallying to Bondi's defense because the decision collides with campaign-trail promises of transparency and has enraged high-profile supporters who still want every document unsealed.
&#8220;What Donald Trump is learning is when you start the fire, sometimes you can&#8217;t put it out,&#8221; Christie said, claiming Trump shields Bondi because releasing the findings would anger supporters who believe murder or blackmail theories.
The 107-page review, finished June 30, reaffirmed Epstein's suicide and said names online were "unsubstantiated," according to a summary circulated late Friday. By Saturday, influencers Kash Patel, the FBI director, and Deputy Director Dan Bongino urged full disclosure, fueling talk that Bondi might resign.
<a href="https://www.benzinga.com/news/politics/25/07/46384692/elon-musk-says-trump-wants-everyone-to-stop-talking-about-epstein-reiterates-demand-that-president-just-release-the-files">See Also: Elon Musk Says Trump Wants Everyone To &#8216;Stop Talking&#8217; About Epstein, Reiterates Demand That President &#8216;Just Release The Files&#8217;</a>
Trump tried to tamp down the uproar in a Truth Social post Saturday night, <a href="https://www.benzinga.com/news/politics/25/07/46383724/trump-stands-by-attorney-general-amid-jeffrey-epstein-controversy-let-pam-bondi-do-her-job-shes-great">calling Bondi "fantastic"</a> and blaming "old media hoaxes" for the controversy. Reuters reported the president insisted "nobody cares about Epstein" and promised only to release material "consistent with law."
Why It Matters: Christie warned that the explanation won't satisfy the base, noting Patel and Bongino were hired because they echoed Trump's transparency vows during the 2024 campaign. &#8220;We cannot let the president off that easily. He benefited directly from it. He fueled it. He encouraged it. And he certainly didn&#8217;t stop it,&#8221; Christie went on to say to ABC. Journalists and insiders now spotlight Bondi, Patel, and Bongino as the Trump administration battles an internal power struggle and the Epstein controversy. Cobb, a former insider, <a href="https://www.benzinga.com/news/politics/25/07/46382248/jeffrey-epstein-case-ex-trump-white-house-lawyer-says-pam-bondi-isnt-going-anywhere-amid-power-struggle">assures the public</a> that Bondi will keep her post, shedding light on the administration's dynamics.
If Patel and Bongino walk away, their exits could dramatically reshape the White House power map.
Photo Courtesy: Christopher Halloran on Shutterstock.com
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</ul>

Politics

Chris Christie Says Trump, Not Pam Bondi Pulled The Plug On Epstein Memo: 'When You Start The Fire, Sometimes You Can't Put It Out'

Cathie Wood&nbsp;expressed her support on Sunday for the Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) Foundation&#8217;s proposed upgrades aimed at enhancing the network&#8217;s scalability and privacy.
What Happened: Wood, the CEO of asset manager&nbsp;ARK Invest, said that while she may not understand all the technical details, she felt the Foundation seems to be &#8220;proposing the right moves.&#8221;
&#8220;I can't say I understand all of the details here, but the Ethereum Foundation does seem to be proposing the right moves for scalability and privacy to maintain its lead in the institutional world,&#8221; she said.
Wood&#8217;s endorsement didn&#8217;t go down too well with cryptocurrency trader&nbsp;MartyParty, who accused her of shilling products she was unfamiliar with. MartyParty highlighted user pain points for even basic wallet transactions and challenged Wood to validate these on her end.
&#8220;If you don't use a product, don't shill it please,&#8221; the trader added.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If you don't use a product don't shill it please &#x1f64f; Make 2 Ethereum wallets &#8211; fund them (will take an hour minimum) Send some value between them (will take 30min and be a pain in the ass) Swap for a erc-20 derivative token on a Ethereum dex (will take 30 min and be a pain in…
&mdash; MartyParty (@martypartymusic) <a href="https://twitter.com/martypartymusic/status/1944548519391691012?ref_src=twsrc%5Etfw">July 14, 2025</a></blockquote>
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The Ethereum Foundation, a non-profit dedicated to promoting and developing Ethereum-related technologies, published a blog post detailing its intent to <a href="https://www.benzinga.com/markets/cryptocurrency/23/03/31353550/the-grand-plan-for-ethereum-an-analysis-of-zero-knowledge-scaling-from-ethdenver-2023">integrate zero-knowledge technology</a> into Ethereum Layer-1. 
Ark&#8217;s crypto analyst Raye Hadi said the upgrade could have &#8220;massive implications&#8221; for scalability and privacy, although its execution remains a challenge.
See Also:&nbsp;<a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46383664/this-memecoin-platform-raised-600-million-in-just-12-minutes">This Memecoin Platform Raised $600 Million In Just 12 Minutes</a>
Meanwhile, Wood also weighed in on Ethereum&#8217;s scarcity-driven play. 
Lorenzo Valiente, Director of Research at Ark, highlighted how the Ethereum exchange-traded funds have raked in as many as 380,000 ETH in the last 9 days, while the network has emitted only 373,000 ETH since The Merge in September 2022.
&#8220;The price of any good is determined at the margin, demand relative to supply. The math is mathin,&#8221; Wood said, quoting Valiente&#8217;s analysis.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The price of any good is determined at the margin, demand relative to supply. The math is mathin' ! <a href="https://t.co/EgXysHLQfl">https://t.co/EgXysHLQfl</a>
&mdash; Cathie Wood (@CathieDWood) <a href="https://twitter.com/CathieDWood/status/1944422704381108428?ref_src=twsrc%5Etfw">July 13, 2025</a></blockquote>
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Why It Matters: Wood&#8217;s firm, Ark Invest, is known for its optimistic outlook about the Ethereum network. It has previously expressed belief in<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41349588/cathie-woods-ark-invest-says-ethereum-is-a-big-idea-that-will-transform-the-financial-serv"> Ethereum&#8217;s transformative potential</a> for the financial services industry and likened its developing attributes to those of U.S. Treasury Bills.
Interestingly, Ark Investment&nbsp;withdrew from launching a spot ETH exchange-traded fund, choosing to focus on a spot&nbsp;Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)&nbsp;ETF, i.e,&nbsp;ARK 21Shares Bitcoin ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKB#BATS">ARKB</a>).
Price Action: At the time of writing, ETH was broadly unchanged at $3,036.15, up 2.74% in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.&nbsp;&nbsp;
ARKB recorded a high Momentum score as of this writing. Want to see how it compares to other BTC and ETH ETFs? Go to <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge Stock Rankings</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="778" height="203" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/13235850/image-146.png" alt="" class="wp-image-983183" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/13235850/image-146.png 778w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/13235850/image-146-300x78.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/13235850/image-146-768x200.png 768w" sizes="(max-width: 778px) 100vw, 778px" /></a></figure>
Photo Courtesy: VPLAB On Shutterstock.com
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</ul>

ARK 21Shares Bitcoin ETF ARK 21Shares Bitcoin ETF

ARKB

Cathie Wood Praises Ethereum Foundation's Plans To Boost Scalability And Privacy, Trader Hits Back With 'Please Don't Shill It' If You Don't Use It

On Monday, Malaysia&#8217;s Ministry of Investment, Trade and Industry announced that any export, transshipment, or transit of high-performance artificial intelligence <a href="https://www.benzinga.com/markets/tech/25/06/45875791/trumps-ai-czar-david-sacks-dismisses-ai-chip-smuggling-fears-warns-over-regulation-could-hand-ai-dominance-to-china-we-talk-about-these-chips-like-they-could-be-smuggled-in-the-back-of-a">chips of U.S. origin</a> will now require a government-issued trade permit, effective immediately.
What Happened: The ministry said companies must notify authorities at least 30 days in advance if moving such items, even if they are not listed on Malaysia's current strategic goods registry, reported Reuters.
"Malaysia stands firm against any attempt to circumvent export controls or engage in illicit trade activities by any individual or company," the ministry said in a statement, adding that violators will face strict legal action.
The move aims to close regulatory loopholes while officials consider adding high-performance AI chips to Malaysia's list of strategic items.
See Also:&nbsp;<a href="https://benzinga.com/markets/macro-economic-events/25/07/46361695/jamie-dimon-warns-market-may-be-underestimating-rate-hike-risks-flags-investor-comp" target="_blank" rel="noreferrer noopener">Jamie Dimon Warns Market May Be Underestimating Rate Hike Risks, Flags Investor Complacency Amid Trump Tariffs: ‘Cause Of Concern'</a>
Why It's Important: The announcement follows U.S. pressure to stop the flow of restricted chips—<a href="https://www.benzinga.com/markets/equities/25/03/44102734/nvidia-chip-fraud-probe-malaysia-vows-necessary-action-but-admits-we-dont-know-where-servers-went">especially from</a> Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)—to China, amid mounting concerns over their use in advanced AI development and military applications.
In March, Malaysia's Trade Minister Tengku Zafrul Aziz said the country would take "necessary action" if domestic firms were involved in allegedly fraudulent Nvidia chip transshipments via Singapore.
Earlier this month, it was reported that the U.S. government is <a href="https://www.benzinga.com/markets/asia/25/07/46266218/us-plans-to-restrict-ai-chip-exports-to-malaysia-thailand-to-curb-diversion-to-china">considering new export restrictions</a> on AI chips, including Nvidia's, to Malaysia and Thailand to prevent China from obtaining them through intermediaries.
Meanwhile, Nvidia CEO Jensen Huang is reportedly planning a <a href="https://www.benzinga.com/markets/tech/25/07/46336670/nvidia-prepares-china-specific-ai-chip-amid-us-export-curbs-as-ceo-jensen-huang-plans-beijing-visit-next-week-to-reassure-market-report">diplomatic visit to China</a>, where the company aims to launch a scaled-down version of its AI chip, modified to meet U.S. export rules.
The new chip, based on the Blackwell RTX Pro 6000 but without advanced features, could be unveiled as soon as September.
Benzinga's Edge Stock Rankings show that Nvidia maintains solid upward momentum across short, medium and long-term periods. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound'">More detailed performance information is available here</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound'"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/14002018/Screenshot-2025-07-14-at-9.48.46%E2%80%AFAM.png" alt="" class="wp-image-983196" /></a></figure>
Photo Courtesy: IM Imagery on Shutterstock.com
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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.

Tech

Media

NVDA

Nvidia, Other US Origin AI Chips Shipments To China Will Now Require Trade Permits, Says Malaysia, Rule Violators To Face Strict Action

The Federal Aviation Administration (FAA) and Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) have both said that the fuel switch locks on the 787-Dreamliner aircraft are safe in the aftermath of the Air India crash in India&#8217;s Ahmedabad in Gujarat state last month.
What Happened: The FAA, as well as the aircraft manufacturer, released private documents claiming the fuel switch locks are safe, Reuters reported on Sunday, citing sources familiar with the matter.
"Although the fuel control switch design, including the locking feature, is similar on various Boeing airplane models, the FAA does not consider this issue to be an unsafe condition," the regulator said in a statement in the notification.
FAA also added that the fuel switch locks do not "warrant an Airworthiness Directive" on Boeing aircraft, including the 787, the report suggests.
Talk of the fuel switch locks began when India's Aircraft Accident Investigation Bureau referred to a 2018 notification by the FAA to check the fuel lock switch on Boeing aircraft, which Air India did not undertake as it wasn't mandatory.
Why It Matters: The news comes as preliminary reports suggest that the <a href="https://www.benzinga.com/news/topics/25/07/46380354/fuel-supply-was-cut-moments-before-air-india-crash-as-per-preliminary-report">fuel supply was abruptly cut off</a> to the engines moments after takeoff and could be a contributing factor to the air crash.
India's investigation of the accident was also under scrutiny as the country denied a <a href="https://www.benzinga.com/news/politics/25/06/46133937/boeing-787-dreamliner-crash-india-shuts-door-on-un-aviation-expert-probing-plane-accident">UN aviation investigator</a> from joining the probe. The investigator, who was in the country, was denied an "observer status" by the government.
Bryan Bedford, President Donald Trump's pick to lead the FAA, was <a href="https://www.benzinga.com/news/politics/25/07/46336395/senate-confirms-trump-pick-bryan-bedford-as-faa-chief-even-as-chuck-schumer-warns-he-will-prioritize-profits-over-passenger-safety">confirmed by the Senate</a> to lead the agency. However, the move has been criticized by Democrats and Sen. Chuck Schumer (D-N.Y.), who accused Bedford of prioritizing profits over passenger safety.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="199" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/13235314/BA-JUL-14-2025-1024x199.jpg" alt="" class="wp-image-983178" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/13235314/BA-JUL-14-2025-1024x199.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/13235314/BA-JUL-14-2025-300x58.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/13235314/BA-JUL-14-2025-768x149.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/13235314/BA-JUL-14-2025-1536x299.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/13235314/BA-JUL-14-2025.jpg 1559w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Boeing scores well on the Momentum metric, but offers poor Value and Growth. For more such insights, sign up for <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener">Benzinga Edge Stock Rankings</a> today!
Check out more of Benzinga&#8217;s Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
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Photo courtesy: JHVEPhoto via Shutterstock

FAA, Boeing Say Fuel Switch Locks On 787 Dreamliner Are Safe Amid Air India Crash Probe

President Donald Trump&#8217;s latest threats to impose a 30% tariff on all imports from Mexico and the European Union are drawing criticism from prominent economist Peter Schiff.
What Happened: On Sunday, in a post on X, Schiff warned against Trump&#8217;s justification for the move, which is to reduce trade deficits with these regions, which he believes are a sign of unfair economic arrangements.
Schiff disagrees with this, saying that the trade deficits are the result of deeper structural issues within the American economy and have little to do with bad or unfair trade deals. &#8220;He blames unfair trade for our deficits,&#8221; Schiff says, adding that they are instead the result of excessive debt and consumption, alongside inadequate savings and investment.
See Also: <a href="https://www.benzinga.com/news/politics/25/07/46382323/private-credit-market-sees-opportunity-amid-donald-trumps-tariff-policies-moodys-reports">Private Credit Market Sees Opportunity Amid Donald Trump&#8217;s Tariff Policies, Moody&#8217;s Reports</a>
He also states that the U.S. relies on this trade deficit to compensate for these other, deeper structural issues, in a warning against Trump&#8217;s trade policies. 
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Trump just threatened 30% tariffs on all Mexican and European imports starting August 1st. He blames unfair trade for our deficits. But America relies on those deficits to compensate for the consequences of excessive debt and consumption, and inadequate savings and investment.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1944041820897317042?ref_src=twsrc%5Etfw">July 12, 2025</a></blockquote>
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Why It Matters: This comes amid Trump&#8217;s latest letters on Friday, addressed to Mexico and the European Union, notifying both regions of a 30% tariff on all imports, starting August 1. In his letter, Trump cited <a href="https://www.benzinga.com/markets/equities/25/07/46382047/trump-targets-mexico-eu-with-30-tariffs">unresolved trade imbalances</a>, alongside issues with narcotics trafficking, for this decision.
Schiff has repeatedly warned that <a href="https://www.benzinga.com/25/05/45404821/dollar-correction-imminent-sans-tariffs-to-reduce-the-us-trade-deficit-says-peter-schiff-minor-decline-would-make-trade-deficit-larger">only a major decline</a> in the U.S. Dollar or &#8220;very high tariffs&#8221; can help reduce trade deficits in the country. 
Without this, he says, tariffs only serve to make the trade deficit larger, with additional inflationary and interest rate pressures.
Former Treasury Secretary Lawrence Summers held a similar view a couple of months ago, at the very onset of Trump&#8217;s &#8220;Liberation Day&#8221; tariffs, when he <a href="https://www.benzinga.com/news/global/25/04/44754763/obama-era-treasury-secretary-larry-summers-rejects-china-cheating-at-trade-narrative-we-get-ev-batteries-for-pieces-of-paper-its-a-good-deal">rejected the narrative</a> that China was cheating at trade, saying that &#8220;if China wants to sell us things at really low prices,&#8221; they should be allowed to, since &#8220;it&#8217;s a good deal for us.&#8221;
Image by Rokas Tenys via Shutterstock
Read More:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/latin-america/25/07/46384734/trumps-brazil-tariffs-imposed-because-they-jail-insurrectionists-says-economist-your-next-coffee-comes-with-an-insurrection-infusion-fee">Trump&#8217;s Brazil Tariffs Imposed Because They Jail &#8216;Insurrectionists,&#8217; Says Economist: &#8216;Your Next Coffee Comes With An Insurrection Infusion Fee&#8217;</a></li>
</ul>
<a href="https://x.com/PeterSchiff/status/1944041820897317042"></a>

Government

Latin America

Global

Peter Schiff Gives Trump's 30% Tariff Threat On Mexico, EU A Reality Check: America Relies On Deficits To Make Up For Excess Debt And Consumption

On Sunday, Pershing Square founder Bill Ackman posted a scathing rebuttal after Tucker Carlson implied he was part of Jeffrey Epstein's <a href="https://www.benzinga.com/news/politics/25/07/46270547/elon-musk-reignites-jeffrey-epstein-client-list-row-adding-fuel-to-the-feud-with-trump">inner circle</a> and questioned the legitimacy of his $9 billion fortune.
What Happened: Ackman was responding to <a href="https://www.benzinga.com/news/politics/25/07/46382335/tucker-carlson-claims-jeffrey-epstein-was-an-israeli-agent-blackmailing-us-politicians">Carlson's remarks</a> at Turning Point USA, where the former Fox News host referred to Ackman as one of the useless billionaires allegedly connected to Epstein.
"How did Bill Ackman get $9 billion?" Carlson asked. "Bill Ackman is like well-connected and super aggressive; that's it."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Tucker: How do you come to a place where some of the least impressive, most useless people who have no actual skills become billionaires… How did Bill Ackman get $9 billion? A pretty impressive guy? I know him. No <a href="https://t.co/gdcNT6imB9">pic.twitter.com/gdcNT6imB9</a>
&mdash; Acyn (@Acyn) <a href="https://twitter.com/Acyn/status/1943832729529069767?ref_src=twsrc%5Etfw">July 12, 2025</a></blockquote>
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Ackman, in a lengthy post on X, rejected the allegation and said he has never met Epstein, nor attended any of his parties or flown on his planes. He stated that his wife met Epstein once before they met, during her time as a professor at the Massachusetts Institute of Technology.
See Also:&nbsp;<a href="https://www.benzinga.com/media/25/05/45534314/elon-musk-just-got-grilled-on-doge-spending-hits-back-with-were-not-kings-here" target="_blank" rel="noreferrer noopener">Elon Musk Just Got Grilled On DOGE Spending, Hits Back With ‘We're Not Kings Here'</a>
"If this is why Tucker thinks I am in Jeffrey Epstein's constellation, it's clear he doesn't know anything about astronomy," Ackman wrote.
Ackman also provided a detailed account of how he built his wealth through investing, citing his early cold calls to Forbes 400 members, the founding of Gotham Partners and the compounding returns at Pershing Square.
He concluded by calling Carlson's comments defamatory and dishonest.
"Tucker owes me an apology. I know I am not going to get one because he is not man enough to care about the truth," Ackman said.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/TuckerCarlson?ref_src=twsrc%5Etfw">@TuckerCarlson</a> went on a rant yesterday <a href="https://twitter.com/TPUSA?ref_src=twsrc%5Etfw">@TPUSA</a> and suggested that I was in Jeffrey Epstein's ‘constellation of people' who have been getting away with scams. His evidence is that ‘the most useless people have no actual skills become billionaires." He referred to me as an example… <a href="https://t.co/x6IrjXkP7x">https://t.co/x6IrjXkP7x</a>
&mdash; Bill Ackman (@BillAckman) <a href="https://twitter.com/BillAckman/status/1944245408751894631?ref_src=twsrc%5Etfw">July 13, 2025</a></blockquote>
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According to Bloomberg's Billionaire <a href="https://www.bloomberg.com/billionaires/">Index</a>, Ackman currently has a net worth of $8.22 billion.
Ackman and Carlson did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga's</a> request for comments.
Why It's Important: The controversy over the Epstein files continues to escalate, with prominent figures such as Elon Musk weighing in with major statements.
Musk has been calling for the full, unredacted release of the Epstein documents, particularly after saying that President Donald Trump is <a href="https://www.benzinga.com/news/politics/25/06/45828121/elon-musks-bombshell-about-donald-trump-in-epstein-docs-heres-the-truth-behind-the-claim">mentioned in them</a>. Musk later withdrew the statement and removed the post from X
Microsoft Corporation's co-founder, Bill Gates, has also repeatedly voiced remorse over his ties to Epstein, who was found dead in his <a href="https://www.benzinga.com/news/19/08/14244993/reports-jeffrey-epstein-dies-by-suicide-in-jail">jail cell in 2019</a>, with the death ruled a suicide.
The Department of Justice <a href="https://www.benzinga.com/news/politics/25/07/46380999/deputy-fbi-director-dan-bongino-considers-resignation-amid-epstein-memo-fallout-report">memo released last week</a> found no evidence of foul play in Epstein's 2019 death and rejected claims of a "client list," frustrating many Trump supporters who had hoped for additional revelations.
Photo Courtesy: Maxim Elramsisy on Shutterstock.com
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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.

Tucker Carlson Asks How Did 'Well-Connected And Super Aggressive' Bill Ackman Get His $9 Billion, Pershing Square Founder Fires Back At Epstein Smear: 'Owes Me An Apology'

Cryptocurrency veteran Samson Mow reiterated his belief in Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) potential to hit $1 million per coin Sunday, as the leading cryptocurrency continued to break records.
What Happened: Mow, CEO of Bitcoin technology company JAN3, wrote on X, &#8220;I know Bitcoin is going&nbsp;to add a zero. You&nbsp;know Bitcoin is going to&nbsp;add a zero. It&#8217;s just a question of when.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I know Bitcoin is going to add a zero. You know Bitcoin is going to add a zero. It&#39;s just a question of when.
&mdash; Samson Mow (@Excellion) <a href="https://twitter.com/Excellion/status/1944335701169897554?ref_src=twsrc%5Etfw">July 13, 2025</a></blockquote>
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A vocal advocate of the $2.3 trillion asset, Mow also hinted at an accelerating &#8220;race&#8221; among investors to accumulate BTC, while some, such as Peter Schiff, insist on &#8220;hopping backwards.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">99% of the world doesn't yet realize we're all in the race of our lives to accumulate <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>.
&mdash; Samson Mow (@Excellion) <a href="https://twitter.com/Excellion/status/1944477406582264100?ref_src=twsrc%5Etfw">July 13, 2025</a></blockquote>
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See Also:&nbsp;<a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46373699/bitcoins-all-time-high-break-means-volatility-could-soon-return-report">Bitcoin&#8217;s All-Time High Break Means Volatility Could Soon Return: Report</a>
Why It Matters: This isn&#8217;t the first time Mow has made such a bold prediction. Earlier in March, he projected that Bitcoin would<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37698435/will-bitcoin-reach-1m-crypto-veteran-samson-mow-predicts-very-soon"> hit the $1 million mark &#8220;very soon.&#8221;</a> His forecast was based on a combination of high demand and an impending reduction in Bitcoin's supply.
Bitcoin is in the <a href="https://www.benzinga.com/crypto/25/07/46384719/bitcoin-crosses-119000-as-crypto-investors-shrug-off-trump-tariffs-on-mexico-eu-ethereum-dogecoin-spike-analyst-says-eths-pump-just-the-start">middle of a record-breaking rally</a>, surging about 10% over the last week, thanks to a combination of massive institutional inflows and <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46242838/anthony-scaramucci-predicts-bitcoin-treasury-frenzy-will-fade">adoption by Bitcoin treasury companies</a>.
However, Schiff, a renowned economist who advocates for precious metals such as gold and silver, <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46353081/bitcoin-can-easily-crash-buy-silver-instead-peter-schiff-says-silver-should-rise-much-more-downside-seems-limited">tried to downplay its advances</a>, stating that the current momentum is speculative and unsustainable.
Price Action:  At the time of writing, Bitcoin was exchanging hands at $119,828.07, up 1.96% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Photo Courtesy: Rido on Shutterstock.com Read Next: 
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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

Samson Mow Confident Bitcoin Is Going To Add A Zero: The Million Dollar Question Is Of 'When'

Y Combinator co-founder Paul Graham once said that aspiring entrepreneurs should ditch grand "visionary" road maps and instead launch something small that works, then follow its momentum westward like &#8220;Columbus."
What Happened: Graham, back in 2012, told attendees at Pycon during a keynote that, "Empirically, the way to do really big things seems to be to start with small things and grow them bigger," citing Microsoft&#8216;s first BASIC interpreter and Facebook's <a href="https://www.benzinga.com/news/24/05/38860816/mark-zuckerberg-recalls-his-childhood-and-facebooks-early-days-shares-top-8-memories-on-his-40th-bir">dorm-room photo</a> site as examples.
He added, "Neither Bill Gates nor Mark Zuckerberg knew how big their companies would get. All they knew was that they were onto something."
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Lofty business plans, he warned, force founders to project too far into an uncertain future. &#8220;Maybe it's a bad idea to have really big ambitions initially, because the bigger your ambitions, the longer they're going to take to realize and the long you're projecting into the future, the more likely you're going to be wrong,&#8221; Graham said.
See also: <a href="https://www.benzinga.com/news/topics/25/07/46347662/kevin-oleary-says-trump-and-elon-have-to-get-back-together-again-praises-trumps-big-beautiful-bill">Kevin O&#8217;Leary Says &#8216;Trump And Elon Have To Get Back Together Again,&#8217; Praises Trump&#8217;s Big Beautiful Bill</a>
Instead, he advises starting with "something that works, that you know works, that's small" and then moving when opportunity appears. "The popular image of a visionary is someone with a very precise view of the future, but empirically it's probably better to have a blurry one," he said.
Why It Matters: Graham's philosophy aligns with his essays like "Startup = Growth," where he <a href="https://www.paulgraham.com/growth.html">argues</a> that rapid iteration, rather than elaborate forecasts, defines successful startups.
Amazon.com founder Jeff Bezos once said publicly that the <a href="https://www.benzinga.com/news/25/05/45184305/jeff-bezos-says-the-hardest-thing-was-landing-amazons-first-million-says-he-warned-potential-backers">toughest test of his career</a> was scraping together Amazon&#8217;s first million dollars. This ties back to Graham&#8217;s philosophy of setting smaller, achievable targets since they&#8217;re likely to feel the toughest to get to.
Critics say his advice counters Silicon Valley's blitz-scale ethos, but Graham maintains incremental growth uncovers real markets and avoids over-promising.
Photo Courtesy: Cagkan Sayin on Shutterstock.com
Read Next: <a href="https://www.benzinga.com/news/education/25/07/46356805/nancy-pelosis-nvidia-stake-heres-how-much-former-speaker-is-up-on-options-bought-in-2023">Nancy Pelosi&#8217;s Nvidia Stake: Here&#8217;s How Much Former Speaker Is Up On Options Bought In 2023</a>

Startups

AMZN

MSFT

Paul Graham Once Said Its A 'Bad Idea' To Have Lofty Ambitions Early, 'Neither Bill Gates Nor Mark Zuckerberg Knew How Big Their Companies Would Get'

Economist Justin Wolfers is once again attacking President Donald Trump, this time over the latter&#8217;s 50% tariffs on imports from Brazil.
What Happened: On Sunday, in a post on X, Wolfers questioned the rationale behind the latest U.S. tariffs imposed on the South American nation, calling it an ideologically driven move that will hurt American consumers without improving domestic supply chains.
&#8220;We now have a 50% tariff on Brazil, because it puts in jail its insurrectionists,&#8221; Wolfers says, referring to <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46334793/trump-sends-lula-a-letter-imposing-50-tariffs-calls-bolsonaro-trial-a-witch-hunt-brazils-president-hits-back-will-not-accept-any-form-of-tutelage">Trump&#8217;s letter</a> to Brazilian President Luiz Inácio Lula da Silva last week, in which he cited the trial of former President&nbsp;Jair Bolsonaro as one of the reasons behind the tariffs. 
See Also: <a href="https://www.benzinga.com/news/politics/25/07/46313013/trumps-tariff-letters-spark-high-level-of-uncertainity-and-volatility-says-economist-mohamed-el-erian">Trump&#8217;s Tariff Letters Spark &#8216;High Level Of Uncertainity And Volatility,&#8217; Says Economist Mohamed El-Erian</a>
In the post that includes a video snippet of his recent appearance on MSNBC&#8217;s Velshi, Wolfers criticized the logic of applying tariffs to commodities like copper and coffee, pointing out that they don&#8217;t lead to increased domestic supply, and as a result, are &#8220;literally a tax on Americans.&#8221;
&#8220;We can't import the mines from other countries,&#8221; he said. &#8220;We can't bring the coffee industry back to the United States — nowhere near enough.&#8221;
According to Wolfers, this is less about trade policy and more about sending a political message. &#8220;All of this is literally attacks on Americans in order to add a show of political support to a foreign insurrectionist,&#8221; he says.
&#8220;Your next coffee now comes with an insurrection infusion fee,&#8221; Wolfers says, pointing to the 50% import tariffs that American consumers will now have to bear, which he says will be in support of those who put &#8220;coup&#8221; in &#8220;coup-pucino,&#8221; a sly reference to Bolsonaro&#8217;s supporters who <a href="https://www.benzinga.com/news/23/01/30324574/protestors-storm-brazils-government-buildings-president-da-silva-calls-them-fanatic-fascists">stormed Brazil&#8217;s Presidential Palace</a> in 2023. 
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&quot;We now have a 50% tariff on Brazil, because it puts in jail its insurrectionists. And so that means for those of us who drink Brazilian coffee: Your next coffee comes with an insurrection infusion fee, as we try to support those who put the coup in coup-pucino.&quot; <a href="https://t.co/3s4AbW6rTC">pic.twitter.com/3s4AbW6rTC</a>
&mdash; Justin Wolfers (@JustinWolfers) <a href="https://twitter.com/JustinWolfers/status/1944492763422118187?ref_src=twsrc%5Etfw">July 13, 2025</a></blockquote>
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Why It Matters: Economists were bewildered by Trump&#8217;s decision to impose a 50% tariff on Brazil last week, saying that it <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46365075/trump-slaps-brazil-with-50-tariff-in-bolsonaro-spat-economists-say-it-sets-a-scary-precedent-as-trade-surplus-ignored">sets a troubling precedent</a>, given the United States&#8217; trade surplus with the nation.
Da Silva <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46334793/trump-sends-lula-a-letter-imposing-50-tariffs-calls-bolsonaro-trial-a-witch-hunt-brazils-president-hits-back-will-not-accept-any-form-of-tutelage">hit back against</a> Trump&#8217;s letter and the accompanying tariffs, saying that his country &#8220;will not accept any form of tutelage,&#8221; while defending the legal proceedings against Bolsonaro as a matter of judicial sovereignty. He also pointed out Brazil&#8217;s $410 billion trade deficit with the U.S. over the past 15 years.
Late last week, Da Silva once again <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46359200/brazil-hits-back-at-trumps-tariff-letter-lula-says-if-hes-going-to-charge-us-50-wee-going-to-charge-him-50">reaffirmed his stance</a> on the matter, saying that Brazil would take the necessary measures to &#8220;protect its people and its companies.&#8221;
He also stated that there would be no negotiations and that &#8220;the law of reciprocity will be put into practice.&#8221; Therefore, if the nation is charged 50% tariffs on exports to the U.S., it would in turn impose 50% tariffs on American imports. 
&#8220;If he's [Trump] going to charge us 50, we're going to charge him 50,&#8221; Da Silva said on his official X account on Friday.
Photo Courtesy: Venus Kaewyoo on Shutterstock.com
Read More: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/07/46267477/trump-threatens-10-additional-tariff-on-all-brics-aligned-nations-says-tariff-letters-drop-at-noon-monday">Trump Threatens 10% &#8216;Additional&#8217; Tariff On All BRICS-Aligned Nations, Says Tariff Letters Drop At Noon Monday</a></li>
</ul>

Trump's Brazil Tariffs Imposed Because They Jail 'Insurrectionists,' Says Economist: 'Your Next Coffee Comes With An Insurrection Infusion Fee'

Leading cryptocurrencies rose on Sunday, while stock futures slipped as President Donald Trump slapped new tariffs on Mexico and the European Union.
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th>Cryptocurrency</th>
<th>Gains +/-</th>
<th>Price (Recorded at 9:15 p.m. ET)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+1.70%</td>
<td>$119,410.06</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+1.34%</td>
<td>$2,985.93</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+0.37%</td>
<td>$0.1985</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin hit a new high above $119,000, extending its record-breaking run that began earlier this week. The trading volume increased 10.29% to $51 billion in the last 24 hours.
Ethereum topped $3,000 in the morning before retreating to the $2,900 area by evening. The second-largest cryptocurrency was on track to finish the week strong, with gains of more than 16% as of this writing.
Over $247 million was liquidated from the market in the last 24 hours, with $142 million of it coming from bearish shorts.
Bitcoin's open interest spiked 3.58% in the last 24 hours and 15% over the last week, suggesting an influx of fresh money into the derivatives market. Traders on Binance with open BTC positions, however, continued to be short.
The market remained greedy, according to the Crypto Fear &amp; Greed Index, signaling substantial buying pressure.
Top Gainers (24 Hours)
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th>Cryptocurrency</th>
<th>Gains +/-</th>
<th>Price (Recorded at 9:15 p.m. ET)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Stellar (XLM)</td>
<td>+27.13%</td>
<td>$0.5043</td>
</tr>
<tr>
<td>Hedera (HBAR)&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+27.10%</td>
<td>$0.252</td>
</tr>
<tr>
<td>Algorand (ALGO)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+23.61%</td>
<td>$0.2703 </td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.72 trillion, following a 1.64% jump in the last 24 hours.
Stock futures fell overnight Sunday. The Dow Jones Industrial Average Futures slid 173 points, or 0.39%, as of 8:36 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 dipped 0.40%, while Nasdaq 100 Futures declined 0.40%.
The sell-offs followed Trump&#8217;s <a href="https://www.benzinga.com/markets/equities/25/07/46382047/trump-targets-mexico-eu-with-30-tariffs">announcement of 30% tariffs</a> on imports from Mexico and the EU. Earlier in the week, Trump also threatened to <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46334793/trump-sends-lula-a-letter-imposing-50-tariffs-calls-bolsonaro-trial-a-witch-hunt-brazils-president-hits-back-will-not-accept-any-form-of-tutelage">impose 50% tariffs</a> on Brazilian goods.
This week, investors will shift focus to the Consumer Price Index report, slated for Tuesday, to gauge the economic impact of Trump's sweeping tariffs on key trading partners.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Citing the MVRV pricing bands, widely followed cryptocurrency analyst and trader Ali Martinez said Bitcoin could go as high as $127,000.
The Market Value to Realized Value bands are used to identify potential overbought and oversold conditions in Bitcoin&#8217;s market.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Bitcoin <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> could climb to $127,000, according to the MVRV Pricing Bands! <a href="https://t.co/LjdwIYyfbK">pic.twitter.com/LjdwIYyfbK</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1944489508344300017?ref_src=twsrc%5Etfw">July 13, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Investor and entrepreneur Ted Pillows stated Ethereum's pump this week "was just the start."
"The major rally will start once it breaks above $4,000. It&#8217;ll be equivalent to BTC breaking above $20,000 in 2020," Pillows remarked.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>&#39;s pump this week was just the start. The major rally will start once it breaks above $4,000. It&#39;ll be equivalent to <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> breaking above $20,000 in 2020. We all know what happened after that. <a href="https://t.co/BZ0HOdrtJZ">pic.twitter.com/BZ0HOdrtJZ</a>
&mdash; Ted (@TedPillows) <a href="https://twitter.com/TedPillows/status/1944469653033455916?ref_src=twsrc%5Etfw">July 13, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Photo Courtesy: sundaemorning on Shutterstock.com
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</ul>

$DOGE

Bitcoin Crosses $119,000 As Crypto Investors Shrug Off Trump Tariffs On Mexico, EU — Ethereum, Dogecoin Spike: Analyst Says ETH's Pump 'Just The Start'

On Sunday, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk criticized Donald Trump's social media post on Jeffrey Epstein <a href="https://www.benzinga.com/news/politics/25/07/46264647/elon-musk-renews-demand-for-jeffrey-epstein-files-release-weeks-after-alleging-trump-is-named-in-them">files </a>in which the president backed his Attorney General Pam Bondi amid growing backlash over a Department of Justice memo.
What Happened: Taking to X, formerly Twitter, Musk responded to Trump's defense of Bondi, who is under fire from some in the MAGA base over the memo stating <a href="https://www.benzinga.com/news/politics/25/07/46383724/trump-stands-by-attorney-general-amid-jeffrey-epstein-controversy-let-pam-bondi-do-her-job-shes-great">there is no evidence</a> Epstein had a "client list" or was murdered.
Trump had taken to Truth Social to support Bondi, writing, "What's going on with my ‘boys' and, in some cases, ‘gals?' They're all going after Attorney General Pam Bondi, who is doing a FANTASTIC JOB!"
He added, "We're on one Team, MAGA&#8230; ‘selfish people' are trying to hurt it, all over a guy who never dies, Jeffrey Epstein."
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/13214830/Screenshot-2025-07-14-at-7.18.21%E2%80%AFAM-528x1024.png" alt="" class="wp-image-983122" /><figcaption class="wp-element-caption">Source: Truth Social</figcaption></figure>
See Also: <a href="https://www.benzinga.com/markets/asia/25/07/46360439/elon-musk-led-teslas-india-entry-kicks-off-with-first-showroom-in-mumbai-launch-set-for-july-15">Elon Musk-led Tesla&#8217;s India Entry Kicks Off With First Showroom In Mumbai: Launch Set For July 15</a>
Musk responded to his post on X, saying, "Seriously. He said ‘Epstein' half a dozen times while telling everyone to stop talking about Epstein. Just release the files as promised."
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/13214340/Screenshot-2025-07-14-at-7.13.36%E2%80%AFAM-1024x399.png" alt="" class="wp-image-983116" /><figcaption class="wp-element-caption">Source: X</figcaption></figure>
Why It's Important: The DOJ memo, released last week, concluded there was no foul play in Epstein's 2019 death and denied the existence of a "client list," angering many Trump supporters who had expected further revelations.
Deputy FBI Director Dan Bongino was considering resigning due to a significant dispute between the FBI and the Department of Justice following the release of the memo, <a href="https://edition.cnn.com/2025/07/11/politics/bongino-consider-resigning-epstein-files">reported</a> CNN on Friday.
Musk and Trump are currently at odds after the Tesla CEO criticized the President&#8217;s "Big, Beautiful Bill" for increasing debt. In response, Trump threatened to cut subsidies to Musk's companies. Musk, <a href="https://www.benzinga.com/news/topics/25/07/46347662/kevin-oleary-says-trump-and-elon-have-to-get-back-together-again-praises-trumps-big-beautiful-bill">once a supporter</a>, has since broken with Trump and announced the creation of the <a href="https://www.benzinga.com/news/politics/25/07/46294492/trump-warned-us-system-is-not-designed-for-third-parties-now-experts-doubt-elon-musks-america-party-will-even-be-ready-by-2026-midterms">"America Party" to represent</a> moderate voters.
Price Action: Over the past five days, TSLA shares have risen by 7.66%, but they're down 3.63% over the last month, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Benzinga's Edge Stock Rankings show that TSLA has a short-term downward trend, while its medium and long-term trends remain positive. The stock maintains a strong growth score, though its value rating is comparatively weaker. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">More detailed performance insights are available here</a>.
Photo Courtesy: RKY Photo on Shutterstock.com
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Disclaimer:&nbsp;This content was partially produced with&nbsp;the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was&nbsp;reviewed and published by Benzinga editors.

TSLA

Elon Musk Says Trump Wants Everyone To 'Stop Talking' About Epstein, Reiterates Demand That President 'Just Release The Files'

Imagine waking up one morning, your bank account drained, your house gone, your credit cards canceled — and all you've got left is a pair of shoes and a half-charged phone. Most people would panic. Mark Cuban would go pour drinks and close deals.
"I would get a job as a bartender at night and a sales job during the day, and I would start working," Cuban said in a <a href="https://www.npr.org/2016/12/05/503982480/serial-entrepreneur-mark-cuban">2016 episode of the "How I Built This" podcast</a>.
No private equity contacts. No startup fund. Just grit and tips.
The billionaire entrepreneur — who built Broadcast.com and sold it to Yahoo for $5.7 billion — says if he lost everything overnight, he wouldn't try to fake it till he made it. He'd get to work. Two jobs, one mission: stack cash and start over.
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Could he become a billionaire again? Probably not, even he admits that. "To be a billionaire, <a href="https://www.benzinga.com/personal-finance/25/04/44657251/mark-cuban-said-billionaires-who-claim-they-could-do-it-all-again-are-lying-their-a-off-youve-got-to-have-luck-and-timing-to-get-rich">you have got to get lucky</a>," Cuban said. But could he claw his way back into millionaire territory?
"Could I become a multimillionaire again? I have no doubt."
And he means it. Cuban's not one of those billionaires who grew up with a trust fund and a country club membership. He grew up in Pittsburgh. His dad never made more than $40,000. When Cuban <a href="https://www.benzinga.com/news/topics/25/06/46042314/when-mark-cuban-hit-100000-he-told-his-dad-whod-never-earned-even-half-that-he-just-started-crying">earned his first $100K, his father cried</a>.
Before the money came, he was living in a rundown apartment with five guys, sleeping on the floor, eating mac and cheese, and driving a <a href="https://www.benzinga.com/personal-finance/24/08/40442345/mark-cuban-says-he-drove-cars-that-cost-200-with-holes-in-the-floorboard-and-lived-off-mac-and-c">car with holes in the floorboards</a>. He's not just guessing what it's like to be poor. He's been there.
But he also knows how to sell.
As a teen, he sold garbage bags door-to-door. Later, he sold software. "I was the best," he said. "I crushed it."
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That's why if he ever had to start from zero again, sales would be his first stop. "Knowing what my sales skills are and the products that I am able to sell, I think I could find a job selling a product that had enough commissions or rewards for me," he said.
Add bartending to the mix, and he's got income coming in around the clock. Bartenders in the U.S. can make anywhere from $30,000 to $80,000 a year depending on tips and location — and that's before you tack on commission-heavy sales income. It's not glamorous, but it's fuel.
Once he'd saved enough, Cuban said he'd launch a business again. Same formula, different starting point.
The plan isn't flashy — and that's the point. Cuban doesn't believe in shortcuts. He believes in hustle. He believes in stacking wins. And he believes that going from broke to seven figures isn't magic — it's execution.
So yeah, if <a href="https://www.benzinga.com/news/25/07/46288396/mark-cuban-says-his-children-struggle-with-the-downsides-of-his-wealth-not-that-they-want-to-be-poor">he woke up poor tomorrow</a>?
He's not crying about it. He's pouring shots, flipping leads, and building an empire all over again.
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Personal Finance

Mark Cuban Says If He Suddenly Woke Up Poor Overnight, He'd Hustle as a Bartender and Sales Rep—And Has 'No Doubt' He'd Be Rich Again

President Donald Trump has declared plans to send Patriot air defense missiles to Ukraine as a countermeasure against the ongoing Russian aggression in the region.
What Happened: Trump revealed his intention to supply Ukraine with Patriot missiles on Sunday, as reported by Reuters. This move is in response to Russian President Vladimir Putin&#8217;s ongoing resistance to ceasefire negotiations between Ukraine and Russia.
&#8220;Putin really surprised a lot of people. He talks nice and then bombs everybody in the evening. But there&#8217;s a little bit of a problem there. I don&#8217;t like it,&#8221; said Trump while addressing the matter of the mobile interceptor missile surface-to-air missile system, according to the report.
While the exact number of missiles to be sent remains undisclosed, Trump assured that the European Union would reimburse the United States for the costs. 
Ukrainian President&nbsp;Volodymyr Zelenskiy&nbsp;has been seeking additional defensive capabilities to counter daily&nbsp;missile and drone attacks from&nbsp;Russia. Trump confirmed the decision at Joint Base Andrews, stating, &#8220;We&nbsp;will send them Patriots, which&nbsp;they desperately need.&#8221;
See Also: <a href="https://benzinga.com/news/politics/25/07/46383818/jeffrey-epstein-in-tapes-released-by-michael-wolff-i-was-donalds-closest-friend" target="_blank" rel="noreferrer noopener">Jeffrey Epstein in Tapes Released by Michael Wolff: &#8216;I Was Donald&#8217;s Closest Friend&#8217;</a>
Trump said, &#8220;We basically are going to send them various pieces of very sophisticated military equipment. They are going to pay us 100% for that, and that&#8217;s the way we want it.&#8221;
Why It Matters: This decision follows a series of events that have escalated tensions between the U.S. and Russia. In May, Trump criticized Putin&#8217;s actions in Ukraine, calling him &#8220;absolutely crazy&#8221; after a <a href="http://mobile interceptor missile surface-to-air missile">major aerial assault</a> by Russia on Ukraine.
In July, Defense Secretary Pete Hegseth paused weapons shipments to Ukraine without informing the White House, <a href="https://www.benzinga.com/news/politics/25/07/46361438/trump-says-i-dont-know-who-paused-ukraine-weapon-shipments-hegseth-did-not-inform-the-white-house-report">causing internal confusion</a> and requiring explanations to Congress and Ukrainian officials.
Shortly after, Trump hinted at a significant announcement regarding the U.S. stance on Russia on Monday, <a href="https://www.benzinga.com/news/politics/25/07/46360686/trump-to-make-a-major-statement-on-russia-on-monday-amid-escalating-ukraine-conflict-im-disappointed">expressing disappointment</a> with Russia&#8217;s actions in Ukraine.
Photo Courtesy: Joshua Sukoff on Shutterstock.com
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

General

Trump Says US Will Supply Ukraine With Patriot Missiles: 'Putin Really Surprised A Lot Of People. He Talks Nice And Bombs Everybody In The Evening'

Labubu, a spiky-eared collectible doll created by Hong Kong artist Kasing Lung, has become one of the hottest toys of 2025. With blind-box pricing ranging from $8.99 to nearly $30, and rare editions reselling for thousands, the trend is being driven not just by kids, but by anxious, value-conscious adults.
<h2 class="wp-block-heading">Toy Boom Signals Bigger Shift In Spending Behavior</h2>
According to Shaun Rein, founder of China Market Research Group, the Labubu craze is part of a larger shift toward <a href="https://www.benzinga.com/markets/large-cap/25/06/46064882/amazons-prime-day-secret-weapon-lipstick-and-luxury">emotional spending</a> in uncertain times. &#8220;Pop Mart has been one of my biggest calls for the last three or four years,&#8221; Rein said in a recent CNBC International <a href="https://www.youtube.com/watch?v=p9vS1KLBLeI">interview</a>. &#8220;Consumers are anxious and really saving their money, except for on items like a Legoland experience or on Pop Mart&#8217;s Labubu. It makes them feel good.&#8221;
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He compared the boom to the well-known &#8220;lipstick effect,&#8221; where consumers spend on small luxuries during economic downturns. &#8220;In the United States, when there&#8217;s a weak economy, look at the lipstick effect. In China, it&#8217;s little toys.&#8221;
Rein noted that Pop Mart toys, including Labubu, have become especially popular among young women. &#8220;When you go into office buildings, a lot of the young women in my company have Pop Mart figurines lined up on their tables,&#8221; he told CNBC International. During the strict COVID testing period in China, he saw purchases of the dolls increase noticeably. It was their way of coping.
<h2 class="wp-block-heading">Pop Mart Could Become The Next Disney</h2>
Rein believes Pop Mart is still in its early stages of growth and may follow in the footsteps of major entertainment brands. &#8220;I think Pop Mart five, 10 years from now could have a theme park or an amusement park,&#8221; he said. &#8220;Fits exactly the Chinese consumer mindset right now—spending to feel better because of the anxiety.&#8221;
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Celebrity endorsements have only added to the craze. Stars like Rihanna, Kim Kardashian and David Beckham have been spotted displaying Labubu dolls, sending resale values skyrocketing. The dolls are frequently sold out online, with some editions starting at $167 and climbing far higher on secondary markets.
<h2 class="wp-block-heading">Starbucks Fumbles While Toys Thrive</h2>
Rein contrasted Pop Mart&#8217;s emotional connection and consistent demand with what he sees as a strategic failure by Starbucks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) in China. Starbucks used to be luxury in a cup, he told CNBC. Now their outlets &#8220;are terrible, and 40% of their high-end menu items weren&#8217;t selling.&#8221;
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Rather than improving quality, Rein said Starbucks is trying to compete on price, a strategy he sees as doomed. &#8220;You can&#8217;t compete with Chinese companies on price,&#8221; he said. &#8220;They&#8217;ll go to lower margins. <a href="https://www.benzinga.com/markets/asset-sales/25/07/46315542/starbucks-attracts-10-billion-in-bids-for-china-unit-amid-rising-competition">Starbucks needs to</a> double down on premium in-store experience and better coffee.&#8221;
Labubu's runaway success, then, is more than just a toy story. It's a window into how stressed-out consumers are seeking comfort, identity and joy in small, meaningful purchases.
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Image: Shutterstock

SBUX

Analyst Says Viral Doll Labubu Boom Reflects The 'Lipstick Effect' Among Anxious Spenders

<a href="https://www.benzinga.com/markets/tech/25/06/46159877/steve-jobs-once-spent-two-weeks-choosing-a-washing-machine-for-his-palo-alto-home-and-he-got-more-thrill-out-of-it-than-any-piece-of-high-tech-in-ages">Steve Jobs</a> didn't just miss out on a relationship with his biological father — he unknowingly shook his hand and tipped him generously.
In a twist that sounds almost too ironic to be real, Jobs once ate at a Mediterranean restaurant in Silicon Valley managed by a man from Syria. They exchanged pleasantries, nothing more. The man later described one of his customers — Jobs — as "a great tipper." What he didn't know? That man was his son.
This surreal overlap came to light years later through a recording shared by Jobs's biographer, Walter Isaacson, on a 2011 <a href="https://www.cbsnews.com/news/60-minutes-full-coverage-steve-jobs/">episode of 60 Minutes</a>. According to Isaacson, as <a href="https://archive.nytimes.com/bits.blogs.nytimes.com/2011/10/23/steve-jobss-search-for-his-father/">reported by The New York Times</a>, Jobs had located his birth mother, Joanne Simpson, in the mid-1980s. Through her, he discovered he had a sister, Mona Simpson, a writer living in New York. The two formed a close bond, but Jobs drew a hard line when it came to their biological father, Abdulfattah "John" Jandali.
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"I learned a little bit about him, and I didn't like what I learned," Jobs said in the recording. He was especially upset by Jandali's early abandonment of Mona and their mother.
But Mona, curious to fill in the gaps, eventually found their father. By then, Jandali was managing a restaurant in Sacramento. When she visited, he casually bragged that Jobs used to eat there often and was "a great tipper." He had no idea he was talking about his own son.
Jobs later recalled that encounter: "I remembered being in that restaurant a couple of times. I shook his hand and he shook my hand — and that's all."
They never saw each other again. According to Isaacson, Jandali didn't find out the truth until 2006 — long after the brief restaurant run-in and long after the chance for a real father-son relationship had passed.
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It's the kind of detail that reads like a scene out of a screenplay: two people bound by blood, unknowingly crossing paths, never realizing the connection — one leaving a generous tip, the other left with a story about a polite customer who once ate the hummus.
According to the <a href="http://online.wsj.com/article/SB10001424052970203499704576620911395191694.html">Wall Street Journal</a>, once Jandali realized the truth, he quietly attempted to reach out to Jobs in the final years of his life — mostly through short, polite emails. He reportedly wished Jobs happy birthday and good health. Jobs occasionally responded with brief replies like "Thank you," but kept his distance.&nbsp;
<a href="https://www.dailymail.co.uk/news/article-2047588/Steve-Jobs-dead-Father-Abdulfattah-John-Jandali-son-met.html">The Daily Mail</a> revealed that in the months leading up to Jobs's death, Jandali became overwhelmed with guilt about abandoning his son. But after so many years, he admitted he was too proud to make the first move.
He feared Jobs might think he was only after money — and, as it turns out, his instincts weren't far off. In the biography, Isaacson quoted Jobs as saying he "didn't trust him not to try to blackmail me or go to the press about it."
Although he never picked up the phone, Jandali <a href="https://abcnews.go.com/Technology/steve-jobs-biological-father-regrets-adoption-report/story?id=14381769">said in interviews</a> that he still hoped for a reunion "before it is too late." But ultimately, it never happened.
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Jobs, for his part, made peace with his choice. He told Isaacson that Paul and Clara Jobs — the couple who raised him — were his "real parents 1,000%." And while the missed connection with his biological father makes for a dramatic story, it was one Jobs never felt compelled to rewrite.
He died in 2011 at the age of 56, having briefly crossed paths with the man who gave him life — a stranger at the time, and never more than that. Whatever his reasons, Jobs chose to keep that distance. It was his decision, his boundary, and maybe even his peace.
Although they exchanged only a few words, never <a href="https://www.benzinga.com/personal-finance/management/25/07/46266363/steve-jobs-daughter-says-he-refused-to-give-her-his-old-porsche-when-she-was-9-youre-not-getting-anything-you-understand-nothing">knowing the full story</a>, it's one of those strange twists life offers — two lives colliding without either realizing it. As Jobs <a href="https://youtu.be/UF8uR6Z6KLc?si=kWk7hAFI71wCUUyM">once said</a>, "You can't connect the dots looking forward; you can only connect them looking backward."
And sometimes, you might not even want to.
Read Next: Over the last five years, the price of gold has increased by approximately 83% — Investors like Bill O&#8217;Reilly and Rudy Giuliani are using this platform to <a href="https://www.benzinga.com/money/american-hartford-gold">create customized gold IRAs to help shield their savings from inflation and economic turbulence.&nbsp;</a>
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Steve Jobs Was Adopted And Unknowingly Dined At His Birth Father's Restaurant — His Dad Remembered Him Only As 'A Great Tipper'

In a 1998 Berkshire Hathaway shareholder meeting, renowned investor,&nbsp;Charlie Munger, unveiled his three-step strategy for wealth accumulation starting from scratch.
What Happened:&nbsp;Munger discussed the challenge of building wealth from ground zero. He underscored that rationality, opportunism, and substantial saving are key to wealth creation.
During the <a href="https://www.youtube.com/watch?v=5Tcqlrz6yKo">meeting</a>, Munger advised saving a substantial part of one&#8217;s income. He illustrated that by saving $2000 a month from a $100,000 salary, one could amass $100,000 in just over three years.
In the second step, Munger advocated for the use of knowledge to profit from side businesses. This includes being vigilant for opportunities to increase earnings, such as starting a side business or capitalizing on rational investment ideas.
Also Read: <a href="https://www.benzinga.com/news/25/05/45338404/charlie-mungers-financial-success-advice-i-avoided-standard-ways-of-failing-because-my-game-in-life-was-always-to-avoid-all-standard-ways-of-failing">Charlie Munger&#8217;s Financial Success Advice: &#8216;I Avoided Standard Ways Of Failing, Because My Game in Life Was Always To Avoid All Standard Ways of Failing&#8217;</a>
Finally, Munger stressed the significance of investing in personal education and training. This sentiment was echoed by Vaibhav, who highlighted the importance of investing in self-education to reach financial objectives.
Munger also discussed the potency of compound interest, explaining&nbsp;that once you have $100,000&nbsp;invested, your existing cash pile&nbsp;saves much more than you&nbsp;do, and this gap only widens with time.
Why It Matters:&nbsp;Munger&#8217;s advice is not only relevant to individuals starting their wealth-building journey but also serves as a reminder to seasoned investors about the fundamental principles of wealth accumulation. 
His emphasis on saving, leveraging knowledge for profit, and investing in personal education underscores the importance of a disciplined and strategic approach to wealth creation. 
Read Next
<a href="https://www.benzinga.com/news/25/01/43077104/charlie-mungers-3-rules-for-success-dont-sell-what-you-wouldnt-buy-work-for-those-you-admire-partner-with-people-you-enjoy" target="_blank" rel="noreferrer noopener">Charlie Munger's 3 Rules For Success: ‘Don't Sell What You Wouldn't Buy, Work For Those You Admire, Partner With People You Enjoy'</a>
Image: Shutterstock

Success Stories

Charlie Munger's Three-Step Wealth Accumulation Strategy: 'Save Diligently, Seize Opportunities, And Continuously Self-Educate'

Recently surfaced recordings reveal that Jeffrey Epstein claimed to be a close friend of President Donald Trump.
What Happened: These statements, made in 2017, offer insights into Epstein&#8217;s relationship with Trump and his alleged intimate knowledge of Trump&#8217;s sexual behaviors. 
During the conversation with Michael Wolff, Epstein boasted about his close ties with Trump, even claiming that Trump&#8217;s first sexual encounter with his current wife Melania occurred on Epstein&#8217;s aircraft, <a href="https://www.thedailybeast.com/listen-to-the-jeffrey-epstein-tapes-i-was-donald-trumps-closest-friend/">reports </a>The Daily Beast. 
Recorded during the interview, these tapes are expected to reignite discussions about&nbsp;the character of the Republican&nbsp;candidate, especially his attitudes towards women, in the lead-up to the forthcoming election.
The tapes portray a multifaceted image of Trump, with Epstein describing him as &#8220;charming&#8221; and &#8220;fun&#8221;, while also alleging that Trump repeatedly cheated in his marriages. 
Epstein suggested that Trump took pleasure in engaging in sexual activities with the wives of his closest friends. He further insinuated that Trump was essentially a man devoid of friends, incapable of showing kindness.
When asked by Wolff, "How do you know all this?" Epstein responded saying, "I was Donald's closest friend for 10 years."
Also Read: <a href="https://www.benzinga.com/news/politics/25/07/46382060/ex-trump-lawyer-dershowitz-claims-knowledge-of-epstein-client-list-i-know-the-names-but-im-bound-by-confidentiality">Ex-Trump Lawyer Dershowitz Claims Knowledge of Epstein Client List: &#8216;I Know the Names, But I&#8217;m Bound by Confidentiality&#8217;</a>
Wolff, who was conducting research for his book &#8220;Fire and Fury&#8221; during the time of the interview,&nbsp;shared the tape with the&nbsp;Daily Beast. He claims to have&nbsp;up to 100 hours of&nbsp;recorded interviews with Epstein.
Trump&#8217;s team has dismissed the tapes as &#8220;false smears&#8221;. The tapes also shed light on the relationship between Epstein and Trump, two affluent men who frequently socialized together&nbsp;in New York and Atlantic&nbsp;City.
The tapes provide Epstein&#8217;s viewpoint on their relationship, a relationship that led one man to infamy, prison, and ultimately suicide, and the other to power, the Oval Office,&nbsp;and his own criminal conviction. 
The tapes also contain allegations about Trump&#8217;s behavior towards women, which are likely to draw attention given their long-standing friendship and the numerous accusations of sexual misconduct against the former president.
Last week, the Justice Department announced that it will not release any more documents related to the case of Epstein. Epstein died by suicide in custody in 2019 while awaiting trial on sex trafficking and conspiracy charges.
Read Next
<a href="https://www.benzinga.com/news/politics/25/07/46264647/elon-musk-renews-demand-for-jeffrey-epstein-files-release-weeks-after-alleging-trump-is-named-in-them" target="_blank" rel="noreferrer noopener">Elon Musk Renews Demand for Jeffrey Epstein Files Release, Weeks After Alleging Trump Is Named in Them</a>
Image: Shutterstock/Copyright Lawrey

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