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iCoreConnect

iCoreConnect Inc develops and markets secure cloud-based HIPAA compliant software services focused on compliance, workflow/productivity, and electronic health records systems. Its core services technology can be adopted to other vertical markets that require a high degree of secure data communication, such as the legal, financial, and education fields. It markets secure HIPAA compliant cloud-based software as a service (SaaS) offering under the names of iCoreExchange, iCoreCodeGenius, iCoreSecure, iCoreMD, iCoreDental, iCoreMobile, iCoreHuddle, iCoreRx, iCorePDMP, iCoreEPCS, and iCorePay. The company's software is sold under annual recurring revenue subscriptions. The company has a single reporting segment for reporting purposes focused on the North American market.

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Xos sorprende al mercado con sólidos resultados en 2024 y hace subir sus acciones antes de la apertura. Descubre más movimientos aquí.

Acciones de Xos (XOS) suben alrededor de un 9%; Aquí están 20 acciones que se mueven en el premercado de EE. UU.

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ZoomInfo sorprende con resultados mejores de lo esperado y sus acciones suben un 19,6%. Descubre qué otras acciones se están moviendo hoy.

Acciones de ZoomInfo se disparan un 20%; 20 acciones que se están moviendo en el premercado de EE.UU.

iCoreConnect Inc

The new licensing deals include major agreements with:
<ul>
<li>France TV for the nature documentary series Planet Insect</li>
<li>The WNET Group (U.S.), home to America's flagship PBS station in New York, for several Curiosity originals</li>
<li>Canal+ (France) for the critically acclaimed Titans: The Rise of Wall Street</li>
<li>Kanopy for a wide range of factual and educational titles</li>
<li>SRC/Explora (Canada) for Planet Insect</li>
<li>SRF (Switzerland) for the innovation-driven series Oops, I Changed the World</li>
<li>V-Me TV (U.S. Hispanic) for a wide range of factual programming</li>
<li>NATV (Korea) for the environmental science program Fateful Planet</li>
<li>Al Jazeera (MENA) for the bold food culture series Eat Me or Try Not To</li>
</ul>

CURI

Curiosity Inc. Expands Global Reach With New International Content Licensing Deals

The U.S. Food and Drug Administration (FDA) expanded approval of Moderna Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) respiratory syncytial virus vaccine to adults aged 18-59 at increased risk for disease.
What Happened: The FDA on Thursday approved broader use of Moderna&#8217;s mRESVIA vaccine for younger at-risk adults based on late-stage trial results, reported Reuters.
The mRNA-based shot showed significant immune responses in adults with underlying health conditions and maintained a favorable safety profile. The vaccine was previously limited to adults 60 and older, where it demonstrated 79% efficacy against RSV symptoms.
Health Secretary Robert F. Kennedy Jr. simultaneously <a href="https://www.benzinga.com/news/health-care/25/06/45898417/rfk-jr-appoints-vaccine-critics-to-cdc-vaccine-panel-after-firing-entire-advisory-committee-report">appointed eight new members to the CDC&#8217;s Advisory Committee</a> on Immunization Practices, including prominent mRNA vaccine critics Robert Malone and Retsef Levi.
The health secretary fired all 17 existing panel members, claiming the need to <a href="https://www.benzinga.com/news/health-care/25/06/45853393/robert-kennedy-jr-axes-entire-cdc-vaccine-panel-to-restore-public-trust-pfizer-moderna-other-biotech-stocks-drop-in-after-hours-trading">&#8220;re-establish public confidence in vaccine science.&#8221;</a> The committee provides crucial guidance on vaccine recommendations that influence insurance coverage and policy.
The CDC currently recommends RSV vaccines for adults 75 and older, plus those 60-74 at increased risk. The final CDC recommendation remains pending for the expanded age group before availability.
See Also: <a href="https://www.benzinga.com/markets/economic-data/25/06/45919422/trumps-one-big-beautiful-bill-is-the-largest-redistribution-from-poor-to-rich-in-american-history-says-economist-justin-wolfers-amid-tax-cuts-spending-s">Trump&#8217;s &#8216;One Big, Beautiful Bill&#8217; Is &#8216;The Largest Redistribution From Poor To Rich In American History,&#8217; Says Economist Justin Wolfers Amid Tax Cuts, Spending Slashes And Tariffs</a>
Why It Matters: William Blair analysts noted the <a href="https://www.benzinga.com/news/fda/25/06/45719840/modernas-new-covid-vaccine-secures-fda-clearance-for-seniors-at-risk-individuals">approval represents</a> &#8220;an incremental win for Moderna, especially considering HHS Secretary Robert F. Kennedy Jr.&#8217;s negative public opinion on mRNA COVID-19 vaccines.&#8221; However, they cautioned that approval alone won&#8217;t massively boost COVID vaccine sales, which depend primarily on overall vaccination market sentiment.
The advisory panel restructuring creates regulatory uncertainty for vaccine manufacturers. Kennedy&#8217;s broader policy changes include removing COVID vaccines from <a href="https://www.benzinga.com/government/regulations/25/05/45688464/rfk-jr-drops-covid-vaccine-recommendation-for-healthy-kids-but-experts-warn-of-major-risks">recommended schedules for healthy children and pregnant women</a>, plus terminating Moderna&#8217;s $600 million bird flu vaccine contract.
RSV hospitalizes 15,000-20,000 U.S. adults aged 50-59 annually. Competing vaccines from Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) and GSK plc (LSE: GSK) also target similar demographics, intensifying market competition amid shifting federal oversight. Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45919626/coinbase-ceo-brian-armstrong-teases-crypto-credit-card-powered-by-american-express-bitcoin-cashbacks-offered-but-heres-the-catch">Coinbase CEO Brian Armstrong Teases Crypto Credit Card Powered By American Express—Bitcoin Cashbacks Offered, But Here&#8217;s The Catch</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Lutsenko_Oleksandr / Shutterstock.com

Health Care

MRNA

FDA Expands Moderna's RSV Vaccine Use To At-Risk Adults Aged 18–59 Amid CDC Panel Shake-Up

U.S. stocks could open on a negative note on Friday after closing higher on Thursday. The decline comes amid Israel's pre-emptive strikes on Iran and retaliatory attacks from Iran, raising concerns about a further rise in tensions in the Middle East, impacting supply routes.
President Donald Trump once again threatened to impose unilateral tariffs within two weeks if the U.S.'s trade partners don't agree to a deal.
"At a certain point, we're just going to send letters out. And I think you understand that, saying this is the deal, you can take it or leave it," Trump told reporters at the John F. Kennedy Center for the Performing Arts.
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-1.43%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-1.21%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-1.18%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-1.74%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Friday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) declined 1.23% to $596.34 and the Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) declined 1.49% to $525.73, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>.
Cues From Last Session:
U.S. stocks ended Thursday on a mixed note, with the major indices in the green and the Russell 2000 ending in the red.
Crude oil surged to over $73 amid the Israel-Iran conflict.
Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) declined by nearly 5% after an Air India <a href="https://www.benzinga.com/markets/25/06/45911791/boeing-dreamliner-carrying-over-200-passengers-crashes-shortly-after-takeoff-near-indias-ahmedabad-b">Boeing 787-8 Dreamliner</a> carrying over 200 passengers crashed on Thursday near the Ahmedabad airport in India.
Most sectors on the S&amp;P 500 closed on a positive note, with only consumer discretionary, industrials, and communication services ending lower. Utilities, information technology and health care recorded the highest increase.
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>0.24%</td>
<td>19,662.48</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.38%</td>
<td>6,045.26</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.24%</td>
<td>42,967.62</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.38%</td>
<td>2,140.09</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
While equities could bear the brunt of an increase in geopolitical risks and tensions in the Middle East due to the Israel-Iran conflict, analysts <a href="https://think.ing.com/articles/fx-daily-geopolitical-risk-storms-back-into-the-picture/">at</a> ING said that this could create some room for a brief rebound in the U.S. dollar.
"In other conditions, the DXY rally would likely be much larger than the roughly 0.75% rebound from the overnight lows we have seen so far, because the dollar would also benefit from the negative shock in equities and bonds," the research firm said.
The main concern, though, is a spike in oil prices. ING analysts highlighted that an energy price shock could force the Jerome Powell-led Federal Reserve to maintain its cautious stance on interest rate policy, which is something that has irked President Trump and others in his administration.
Upcoming Economic Data
Friday's major economic updates include:
<ul class="wp-block-list">
<li>The preliminary consumer sentiment data for June will be announced at 10:00 a.m. ET.</li>
</ul>
Stocks In Focus:
<ul class="wp-block-list">
<li>Adobe Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>): The digital media company reported record revenue in Q2, beating Wall Street expectations. It raised the full-year revenue guidance to $23.50 billion &#8211; $23.60 billion, from $23.30 billion &#8211; $23.55 billion.</li>
<li>Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>), General Electric Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>): Boeing CEO Kelly Ortberg skipped the Paris Airshow, while GE delayed its investor day after the deadly Air India crash took the lives of 241 people.</li>
<li>Chime Financial Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHYM#NASDAQ">CHYM</a>): Chime stock closed 37% higher on Thursday following a blockbuster debut on the bourses.</li>
<li>Investors are awaiting earnings results from&nbsp;MoneyHero Ltd.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNY#NASDAQ">MNY</a>) today.</li>
</ul>
Commodities, Gold, And Global Equity Markets:
Crude oil futures were trading higher in the early New York session by 7.14% to hover around $72.90 per barrel.
Spot prices of gold rose 1.14% to hover around $3,425.35 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was up by 0.33% at the 98.2400 level.
The 10-year Treasury note yield was slightly down by 0.01%.
All of the major Asian markets were in the red on Friday, with the Taiwan Weighted index plunging the most at 0.97%, followed by the Nikkei 225, which fell 0.90%. Similarly, European markets were in the red at the time of writing.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/market-summary/25/06/45918802/middle-east-tensions-rattle-markets-us-stock-futures-slide-oil-jumps-8-gold-surges-above-3400-after-israel-strikes-iran">Middle East Tensions Rattle Markets: US Stock Futures Slide, Oil Jumps 8%, Gold Surges Above $3,400 After Israel Strikes Iran</a></li>
</ul>
Photo courtesy: godongphoto / Shutterstock.com

Equities

ADBE

CHYM

US Stocks Likely To Open Lower As Israel Strikes Iran: Geopolitical Risks Offers Upside For Dollar, Say Experts

TD Securities analyst Andrew Charles reiterates Starbucks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) with a Hold and maintains $90 price target.

Price Target

Reiteration

Analyst Ratings

SBUX

TD Securities Reiterates Hold on Starbucks, Maintains $90 Price Target

Tobi Lütke, CEO of&nbsp;Shopify Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NASDAQ">SHOP</a>), said Thursday that the firm has partnered with Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) to integrate USD Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>), allowing merchants to accept payments in the world&#8217;s second-largest dollar-pegged cryptocurrency. 
What Happened:&nbsp;In an X post, Lütke revealed that&nbsp;the e-commerce company&nbsp;will enable USDC payments on Base, an Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) Layer-2 blockchain <a href="https://www.benzinga.com/personal-finance/25/04/45014779/base-creator-says-the-coinbase-incubated-blockchain-is-prioritizing-creators-over-traders-as-fallout-of-contentcoin-debacle-continues">incubated by Coinbase</a>. 
&#8220;Shopify will enable USDC (Stablecoins on @Base) in Checkout via Shopify Payments and Shop Pay. Early access starts today, roll out throughout the year,&#8221; Lütke said. 
The CEO acknowledged that &#8220;stablecoins are a natural way to transact on the internet,&#8221; and they worked with Coinbase to develop the payment protocol powering the system.
<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">Shopify will enable USDC (Stablecoins on <a href="https://twitter.com/base?ref_src=twsrc%5Etfw">@Base</a>) in Checkout via Shopify Payments and Shop Pay. Early access starts today, roll out throughout the year. We think that stablecoins are a natural way to transact on the Internet and worked with coinbase to develop the commerce… <a href="https://t.co/o6jme8kSha">pic.twitter.com/o6jme8kSha</a>
&mdash; tobi lutke (@tobi) <a href="https://twitter.com/tobi/status/1933236205027799254?ref_src=twsrc%5Etfw">June 12, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a href="https://benzinga.com/crypto/cryptocurrency/25/06/45906017/dogecoin-drops-6-why-is-it-going-down" target="_blank" rel="noreferrer noopener">Dogecoin Drops 6%: Why Is It Going Down?</a>
Lütke mentioned that the integration would allow the company&nbsp;to offer buyer incentives like&nbsp;1% cash back in the&nbsp;future. 
&#8220;And it's all transparent to merchants, they will simply get normal local currency payouts the same as usual (unless you choose to keep it as USDC!),&#8221; he clarified. 
Lütke said fintech firm Stripe helped &#8220;make this totally seamless.&#8221;
Why It Matters:&nbsp;This was not the first time Shopify looked into <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39315050/shopify-merchants-can-now-embrace-crypto-payments-with-helio-integration">cryptocurrency payments</a>. In 2023, it integrated Solana Pay, a payment system developed by Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), allowing payments in several stablecoins, including USDC.
The move comes amid growing acceptance of stablecoins in the financial world.&nbsp;Treasury Secretary Scott Bessent&nbsp;recently projected that <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45897485/treasury-secretary-scott-bessent-sees-stablecoin-market-surging-past-2-trillion-as-senate-advances-dollar-pegged-crypto-bill">dollar-pegged cryptocurrencies could reach a market capitalization</a> of $2 trillion and beyond, as stablecoin legislation advances in the U.S. Senate.
Notably, Circle Internet Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRL#NYSE">CRL</a>), the company that issues the USDC stablecoin, opened to a bumper public listing last week. Its shares have rallied 243% from the IPO price.
Price Action:&nbsp;Shares of Shopify were down 2.73% in pre-market trading after closing 4.31% lower at $109.21 during Thursday&#8217;s regular trading session, 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>.&nbsp;
The stock demonstrated a high Momentum and Growth score as of this writing. Want to see how it stands up against other e-commerce companies? Please visit <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="562" height="417" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/13052228/image-217.png" alt="" class="wp-image-948704" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/13052228/image-217.png 562w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/13052228/image-217-300x223.png 300w" sizes="(max-width: 562px) 100vw, 562px" /></a></figure>
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://benzinga.com/crypto/cryptocurrency/25/06/45841991/anthony-pompliano-says-bitcoins-endgame-is-hyper-bitcoinization" target="_blank" rel="noreferrer noopener">Anthony Pompliano Says Bitcoin&#8217;s Endgame Is Hyper-Bitcoinization</a></li>
</ul>
Photo Courtesy: Skorzewiak on Shutterstock

$ETH

$SOL

$USDC

COIN

SHOP

USDC

Shopify Teams Up With Coinbase, Stripe To Roll Out USDC Stablecoin Payments For Merchants

Oppenheimer analyst Rayna Kumar maintains Shift4 Payments (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FOUR#NYSE">FOUR</a>) with a Outperform and raises the price target from $121 to $142.

FOUR

Oppenheimer Maintains Outperform on Shift4 Payments, Raises Price Target to $142

ANSS

SNPS

Chinese Antitrust Regulator Delays $35 Billion US Chip Merger Amid Trade Tensions: Report

Silicon Valley entrepreneur Sahil Lavingia, founder of Gumroad, provides a rare inside look at the Department of Government Efficiency (DOGE), <a href="https://www.benzinga.com/news/politics/25/05/45708460/elon-musks-175-billion-in-doge-cut-falls-far-short-of-the-billionaires-goal-expect-to-achieve-over-time-the-trillion-dollars-of-savings-says-tesla-ceo">previously led by</a> Elon Musk.
What Happened: On the Hard Fork podcast, recorded over a week ago, Lavingia discussed his 55-day stint at DOGE, embedded in the Department of Veterans Affairs. 
In the nearly hour-long podcast, Lavingia highlighted the chaotic and dysfunctional nature of DOGE since its early days. What was pitched as a bold effort to inject Silicon Valley know-how into the federal government instead turned into a disorganized and opaque operation, he says.
&#8220;There was no offer letter, no salary details, nothing.&#8221; Weeks into the job, he still didn't know how much he was being paid, &#8220;I assume it's zero,&#8221; he says.
The White House did not immediately respond to <a href="http://pro.benzinga.com">Benzinga&#8217;s</a> request for comment. 
See Also: <a href="https://www.benzinga.com/news/politics/25/06/45919604/trumps-big-beautiful-bill-pulls-1600-from-poorest-adds-12000-for-richest-annually-shows-cbo-analysis">Trump&#8217;s &#8216;Big, Beautiful Bill&#8217; Pulls $1,600 From Poorest, Adds $12,000 For Richest Annually, Shows CBO Analysis</a>
Assigned to the VA without clarity on his role or direct reporting line, Lavingia was given a government laptop that couldn't run Python or Git. &#8220;It was like being asked to cook with no equipment,&#8221; he said, describing the limits placed on DOGE engineers in federal environments.
Despite the chaos, Lavingia said he intended to reduce inefficiencies without harming services to veterans. However, he noted DOGE's primary mandate focused on slashing contracts and reducing headcount, not shipping software or improving user experience.
Lavingia describes DOGE&#8217;s internal culture as being fundamentally at odds with the Federal workforce. &#8220;I joked I was here to RIF everybody,&#8221; he said, referring to the Reduction in Force initiative and all he got in return was &#8220;Dead silence.&#8221;
He says his time at the department came to an abrupt end after speaking with a journalist. &#8220;I was ghosted,&#8221; he says, after his access to GitHub was revoked without any explanation.
Lavingia concludes by saying that the effort was naive but well-intentioned. &#8220;Mistakes were made,&#8221; he said. &#8220;Hopefully, I was more the baby than the bathwater,&#8221; which is a play on the old saying &#8220;Don&#8217;t throw the baby out with the bathwater,&#8221; which means to say not to discard something valuable when trying to get rid of something undesirable.
Why It Matters: Donald Trump&#8216;s DOGE initiative has come under a lot of criticism in recent months, with the likes of Mark Cuban warning that &#8220;this isn&#8217;t a corporate turnaround, this is the United States of America.&#8221;
Cuban argued that while he was in favor of improving efficiencies and <a href="https://www.benzinga.com/personal-finance/25/03/44484549/mark-cuban-on-doge-government-cuts-this-isnt-a-corporate-turnaround-this-is-the-united-states-of-america">cutting waste in government</a>, he would approach it with a plan, and &#8220;ready Fire Aim is not a plan&#8221; is not a plan.
Several policy experts, such as Erik Nisbet of Northwestern University, have <a href="https://www.benzinga.com/personal-finance/25/04/44899090/broke-humpty-dumpty-policy-expert-says-elon-musks-doge-cuts-are-disruptive-and-might-be-impossible-to-fix">slammed DOGE</a> as being &#8220;very, very harmful,&#8221; and even &#8220;extra governmental.&#8221; Nisbet compared its effects to &#8220;a broke Humpty Dumpty,&#8221; and wondered if its damage could ever be undone. 
Meanwhile, Musk&#8217;s brief tenure at DOGE was marked by aggressive job cuts across federal agencies, the dismantling of USAID and a series of controversial communications, <a href="https://www.benzinga.com/25/02/43680384/trumps-controversial-fork-in-the-road-government-buyout-program-gets-the-green-light-from-judge-unions-dont-have-the-required-stake" target="_blank" rel="noreferrer noopener">including &#8220;fork in the road&#8221; resignation emails</a>.
Read More: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/06/45919950/appeals-court-allows-trump-to-keep-national-guard-in-california-for-now">Appeals Court Allows Trump To Keep National Guard In California For Now</a></li>
</ul>
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<iframe loading="lazy" title="Sahil Lavingia's DOGE Days Are Over &#x7C; Interview" width="500" height="281" src="https://www.youtube.com/embed/KVm44GSvwR8?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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Photo courtesy: Tada Images / Shutterstock.com

Trump's DOGE Initiative Slammed As 'Broke Humpty Dumpty' While Former Insider Sahil Lavingia Spills Shocking Details: No Salary, No Role, Chaotic Work Culture And Abrupt Exit After Just 55 Days

Digital Turbine, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APPS#NASDAQ">APPS</a>) will release its fourth-quarter financial results after the closing bell on <a href="https://www.benzinga.com/quote/APPS/earnings">Monday, June 16</a>.
Analysts expect the Austin, Texas-based company to report quarterly earnings at 4 cents per share, down from 12 cents per share in the year-ago period. Digital Turbine projects quarterly revenue of $116.64 million, compared to $112.22 million a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Feb. 5, Digital Turbine reported quarterly earnings of 13 cents per share, which beat the analyst consensus estimate for a loss of one cent. Quarterly revenue clocked in at $134.64 million, which beat the consensus estimate of $123.68 million.
Digital Turbine shares fell 4.1% to close at $4.98 on Thursday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/APPS/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul class="wp-block-list">
<li>B of A Securities analyst Omar Dessouky downgraded the stock from Neutral to Underperform and cut the price target from $3.5 to $1 on Nov. 15, 2025. This analyst has an accuracy rate of 66%.</li>
<li>Macquarie analyst Tim Nollen maintained a Neutral rating and lowered the price target from $3 to $2 on Nov. 7, 2024. This analyst has an accuracy rate of 60%.</li>
<li>Craig-Hallum analyst Anthony Stoss maintained a Buy rating and cut the price target from $5 to $4 on Nov. 7, 2024. This analyst has an accuracy rate of 61%.</li>
</ul>
Considering buying APPS stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><a href="https://www.benzinga.com/quote/APPS/analyst-ratings"><img loading="lazy" decoding="async" width="1024" height="582" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/12221351/image-203-1024x582.png" alt="" class="wp-image-948354" style="width:720px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/12221351/image-203-1024x582.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/12221351/image-203-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/12221351/image-203-768x437.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/12221351/image-203.png 1082w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Read This Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/short-ideas/25/06/45902941/top-2-defensive-stocks-that-may-keep-you-up-at-night-in-q2">Top 2 Defensive Stocks That May Keep You Up At Night In Q2</a></li>
</ul>
Photo via Shutterstock

Earnings

APPS

Top Wall Street Forecasters Revamp Digital Turbine Expectations Ahead Of Q4 Earnings

Shares of RH (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RH#NYSE">RH</a>) rose sharply in today's pre-market trading as the company reported upbeat earnings for the first quarter and announced that it is maintaining its current FY25 guidance despite uncertainty <a href="https://www.benzinga.com/quote/rh/earnings">surrounding tariffs and macroeconomic events.</a>
RH reported first-quarter revenue of $813.95 million, missing the consensus estimate of $818.12 million, according to Benzinga Pro. The luxury retailer reported first-quarter adjusted earnings of 13 cents per share, surpassing analyst estimates calling for a loss of nine cents per share.
RH said it sees second-quarter revenue growth of 8% to 10%, and full-year 2025 revenue growth of 10% to 13%.
RH shares jumped 18.2% to $208.98 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul class="wp-block-list">
<li>Houston American Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUSA#NYSE">HUSA</a>) surged 140.3% to $16.87 in pre-market trading after gaining over 30% on Thursday.</li>
<li>U.S. Energy Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USEG#NASDAQ">USEG</a>) shares jumped 62% to $2.30 in pre-market trading after adding 3% on Thursday.</li>
<li>Indonesia Energy Corporation Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INDO#NASDAQ">INDO</a>) jumped 42.4% to $5.08 in pre-market trading after gaining 10% on Thursday.</li>
<li>Crown LNG Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGBS#NASDAQ">CGBS</a>) gained 42.4% to $0.12 in pre-market trading after gaining 12% on Thursday.</li>
<li>Trio Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPET#NYSE">TPET</a>) climbed 39.1% to $1.70 in pre-market trading after declining around 5% on Thursday.</li>
<li>Nine Energy Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NINE#NYSE">NINE</a>) rose 23.8% to $0.7285 in pre-market trading after gaining 4% on Thursday.</li>
<li>EON Resources Inc.  (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EONR#NYSE">EONR</a>) rose 22.3% to $0.6016 in pre-market trading.</li>
<li>ParaZero Technologies Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRZO#NASDAQ">PRZO</a>) surged 19.7% to $1.40 in pre-market trading.</li>
<li>Transocean LTD (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIG#NYSE">RIG</a>) gained 10% to $3.53 in pre-market trading.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul class="wp-block-list">
<li>Sharplink Gaming Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBET#NASDAQ">SBET</a>) shares tumbled 64.4% to $11.60 in pre-market trading after falling 12% on Thursday.</li>
<li>Rein Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RNTX#NASDAQ">RNTX</a>) dipped 18.5% to $1.60 in pre-market trading after the company announced it paused enrollment and patient dosing at its clinical trial sites in the US foe its Phase 2 RENEW trial of LTI-03.</li>
<li>Greenlane Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNLN#NASDAQ">GNLN</a>) shares fell 15% to $0.013 in pre-market trading after jumping 100% on Thursday.</li>
<li>Healthcare Triangle Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HCTI#NASDAQ">HCTI</a>) declined 14.3% to $0.026 in pre-market trading after jumping 226% on Thursday.</li>
<li>ReShape Lifesciences Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RSLS#NASDAQ">RSLS</a>) fell 12.5% to $2.72 in pre-market trading. ReShape Lifesciences jumped over 35% on Thursday after the company announced it signed an exclusive U.S. distribution agreement with Recon Supply to distribution ReShape&#8217;s portfolio across VA and DoD Healthcare Systems.</li>
<li>Traws Pharma Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRAW#NASDAQ">TRAW</a>) dipped 11.7% to $1.59 in pre-market trading.</li>
<li>bioAffinity Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIAF#NASDAQ">BIAF</a>) declined 10.3% to $0.27 in pre-market trading after gaining around 4% on Thursday.</li>
<li>VEON Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VEON#NASDAQ">VEON</a>) declined 9.9% to $42.36 in pre-market trading after jumping 5% on Thursday.</li>
<li>FibroGen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FGEN#NASDAQ">FGEN</a>) fell 3.9% to $0.30 in pre-market trading after the company reported a 1-for-25 reverse stock split</li>
<li>Adobe Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) fell 1.8% to $406.55 in pre-market trading. Adobe reported better-than-expected second-quarter financial results and raised its FY25 guidance.</li>
</ul>
Now Read This: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/short-ideas/25/06/45902941/top-2-defensive-stocks-that-may-keep-you-up-at-night-in-q2">Top 2 Defensive Stocks That May Keep You Up At Night In Q2</a> </li>
</ul>
Photo via Shutterstock

BIAF

CGBS

EONR

FGEN

GNLN

HUSA

INDO

NINE

PRZO

RNTX

RSLS

SBET

TPET

TRAW

USEG

VEON

Why RH Shares Are Trading Higher By Around 18%; Here Are 20 Stocks Moving Premarket

Macro Economic Events

Econ #s

Economics

Eurozone Industrial Production (MoM) For April -2.4% Vs. -1.6% Est.; 2.4% (Revised) Prior

Eurozone Trade Balance For April 9.9B Vs. 18.2B Est.; 36.8B Prior

TAL Education Unveils TalPad T100 Kids' Tablet To Boost Learning, Cut Tutor Costs

On Thursday, Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) filed a lawsuit against a Hong Kong-based developer of an <a href="https://www.benzinga.com/news/24/08/40089681/google-takes-action-against-deepfake-porn-in-search-results-as-others-like-mark-zuckerbergs-meta-and">explicit AI deepfake app</a>, alleging the company violated its advertising policies tens of thousands of times and intensified growing concerns over the misuse of artificial intelligence for non-consensual content.
What Happened: Meta is suing Joy Timeline HK Limited, the creator of CrushAI, an app capable of generating sexually explicit deepfakes, <a href="https://edition.cnn.com/2025/06/12/tech/meta-sues-explicit-deepfake-app-crushai">reported</a> CNN.
The company claims the app maker ran over 87,000 ads that violated Meta's rules across Facebook and Instagram by promoting "nudifying" technology — tools that digitally remove clothing from <a href="https://www.benzinga.com/government/24/04/38262970/ai-generated-sexually-explicit-deepfakes-on-uk-government-radar-as-new-law-seeks-to-criminalize-them">images of people without consent</a>.
According to the complaint, filed in a Hong Kong court, the defendants created a network of 170 business accounts and 135 Facebook pages, managing ads that largely targeted users in the U.S., Canada, Australia, Germany and the U.K.
Also Read:&nbsp;<a href="https://www.benzinga.com/media/25/05/45680165/meta-hits-1-billion-monthly-ai-users-eyes-future-with-subscriptions" target="_blank" rel="noreferrer noopener">Meta Hits 1 Billion Monthly AI Users, Eyes Future With Subscriptions</a>
Meta says it has spent $289,000 responding to regulatory inquiries and investigating the violations. "This is an adversarial space," the company said in a statement, noting that such actors "evolve their tactics to avoid detection," the report added.
Why It's Important: Tech platforms are under increasing pressure to combat non-consensual, explicit deepfakes, which are easier to create with AI.
Victims have <a href="https://www.benzinga.com/news/24/01/36818568/elon-musks-x-blocks-taylor-swift-searches-amid-deepfake-dilemma">included public figures</a> like Taylor Swift and Rep. Alexandria Ocasio-Cortez, as well as high school girls. In response, the Take It Down Act—<a href="https://www.benzinga.com/government/regulations/25/03/44100458/melania-trump-attacks-democrats-for-skipping-key-discussion-on-deepfakes-first-lady-wants-tougher-safeguards-for-children">banning the sharing of such content</a> and mandating swift removal by platforms—was signed into law last month.
In January, reports revealed that CrushAI, a nudifying app, ran thousands of ads on Meta platforms, despite Meta&#8217;s policies banning adult content and sexual exploitation.
This led Sen. Dick Durbin (D-IL) to question Meta CEO Mark Zuckerberg about the company&#8217;s oversight.
Earlier this month, CBS <a href="https://www.cbsnews.com/news/meta-instagram-facebook-ads-nudify-deepfake-ai-tools-cbs-news-investigation/">News</a> found more ads promoting similar apps, some using sexualized deepfakes of celebrities. In response, Meta said it removed the ads, deleted associated Pages and permanently blocked the related URLs.
Price Action: Meta shares declined 0.11% on Thursday and dropped another 1.75% in pre-market trading on Friday, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Benzinga's Edge Stock Rankings indicate a continued upward trend for META 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 data 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/2025/06/13044426/Screenshot-2025-06-13-at-2.14.03%E2%80%AFPM.png" alt="" class="wp-image-948675" /></a></figure>
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45396297/cathie-wood-dumps-palantir-as-stock-touches-peak-prices-bails-on-soaring-flying-taxi-maker-archer-aviation" target="_blank" rel="noreferrer noopener">Cathie Wood Dumps Palantir As Stock Touches Peak Prices, Bails On Soaring Flying-Taxi Maker Archer Aviation</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Skorzewiak / Shutterstock.com

Legal

Tech

Media

Meta Sues Hong Kong-Based Deepfake App Maker Accusing It Of Running 87,000 Banned Ads As Zuckerberg Faces Pressure Over AI-Generated Nudity And Exploitation

UCloudlink Halts Financing Plans, Will Not Renew Or File Form F-3 Until Q1 2026

<h3>Companies Reporting Before The Bell</h3>
• Root (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROOT#NASDAQ">ROOT</a>) is likely to report quarterly loss at $0.19 per share on revenue of $38.59 million. 
• MoneyHero (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNY#NASDAQ">MNY</a>) is projected to report earnings for its first quarter. 
<h3>Companies Reporting After The Bell</h3>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ROOT

Earnings Scheduled For June 13, 2025

Accusing a former employee of stealing confidential materials related to Optimus and launching a rival startup, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has filed a lawsuit in federal court.
What Happened: Zhongjie "Jay" Li, who was part of the team working on Tesla's robotic hand sensors from August 2022 to September 2024, allegedly downloaded sensitive files just before resigning from his position, Fortune <a href="https://fortune.com/2025/06/12/tesla-sues-ex-optimus-engineer-robot-trade-secrets/">reports</a>. Filed on Wednesday in San Francisco, the lawsuit claims that within a week of his departure, Li incorporated a new company, Proception Inc., which is now based in Palo Alto.
Within five months, Proception reportedly showcased humanoid hands similar to Tesla's own designs. The lawsuit also names Proception as a defendant and accuses both parties of misappropriating trade secrets.
See Also: <a href="https://www.benzinga.com/news/movers-shakers/25/06/45917407/elon-musk-net-worth-down-64-billion-in-2025-but-tesla-ceo-still-richer-than-value-of-ford-general-motors-stellantis-toyota-combined">Elon Musk Net Worth Down $64 Billion In 2025 — But Tesla CEO Still Richer Than Value Of Ford, General Motors, Stellantis, Toyota Combined</a>
Why It Matters: CEO Elon Musk has described the company&#8217;s robotic hand as "the most sophisticated ever made," and projected that Optimus could become the company's most valuable product in the long run.
Last month, Musk shared his belief that humanoid robots will <a href="https://www.benzinga.com/news/topics/25/05/45710538/elon-musk-says-humanoid-robots-will-start-impacting-countries-gdps-in-4-to-5-years-robot-cars-even-sooner-in-just-1-to-2-years">start impacting countries' GDPs in &#8220;4-5 years.&#8221;</a> Musk has also asserted that Optimus can learn tasks <a href="https://www.benzinga.com/markets/equities/25/05/45536080/elon-musk-says-teslas-optimus-can-learn-tasks-by-watching-youtube-videos-just-like-a-human">simply by watching YouTube videos</a>, much like humans can.
Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang has suggested that Optimus might be the <a href="https://www.benzinga.com/news/25/05/45691451/teslas-optimus-may-be-the-first-humanoid-robot-to-achieve-high-volume-and-tech-scale-says-nvidia-ceo" target="_blank" rel="noreferrer noopener">first humanoid robot to reach both mass production and advanced technical capability</a>. &#8220;I think this is likely to be the next multi-trillion-dollar industry,&#8221; he said.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/06/45919550/cathie-wood-buys-tesla-again-calls-elon-musks-ev-giant-largest-ai-project-on-earth-report">Cathie Wood Buys Tesla Again, Calls Elon Musk&#8217;s EV Giant &#8216;Largest AI Project On Earth:&#8217; Report</a></li>
</ul>
Photo courtesy: Shutterstock

NVDA

TSLA

Elon Musk's Tesla Files Lawsuit Alleging Ex-Employee Stole Humanoid Tech To Launch Rival

Former President Barack Obama has quietly taken on the role of leadership coach to Airbnb (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>) co-founder Brian Chesky, meeting weekly in what the billionaire calls "night school" and pressing him to steer the home-sharing platform with deliberate purpose rather than on autopilot.
What Happened: In a new podcast appearance, Chesky recounted Obama's warning to shun leaders who act like "self-driving cars" and revealed homework-style assignments that reshaped both his personal life and the direction of Airbnb.
Chesky recently told Michelle Obama's "IMO" podcast that the calls ran a full hour every week, stacked on top of 100-hour workweeks in the run-up to Airbnb's 2020 IPO. 
&#8220;I basically had my day job during the day, and then I had my night school with the former president,&#8221; he said. The former president urged Chesky to think deeply about relationships with colleagues, shareholders and society — and plot an intentional course.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="BRIAN CHESKY Gets Honest About the Future of AI, Online Dating, and Maintaining Friendships &#x7C; IMO" width="500" height="281" src="https://www.youtube.com/embed/uRaIABQXwBo?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
"He told me something that I'll never forget," Chesky revealed. "He said you should institutionalize your intentions, so that even when you're a public company, you can make sure not to compromise your vision.&#8221;
See also: <a href="https://www.benzinga.com/personal-finance/management/25/06/45911214/dave-ramsey-told-a-31-year-old-man-making-less-than-10k-a-year-you-have-a-pretty-extreme-income-problem-but-youre-not-bankrupt">Dave Ramsey Told A 31-Year-Old Man Making Less Than $10K A Year, You Have A &#8216;Pretty Extreme Income Problem,&#8217; But You&#8217;re Not Bankrupt</a>
&#8220;And what he meant by that, I think, was that you should be more thoughtful about what you're making, why you're making it, and the impact of what you're making is on people," he clarified. Chesky went on to add that Obama's advice made a "really, really big difference" at Airbnb.
Why It Matters: This wasn&#8217;t the first instance of Chesky heaping praise on Obama&#8217;s advice. In a separate showing on the Rapid Response podcast back in 2024, Chesky revealed how Obama, during a conversation over dinner in 2017, advised him to lock Airbnb's purpose into the company bylaws before going public: "Institutionalize your intentions so you don't compromise your vision." The directive inspired the company's five-stakeholder framework and the creation of a Host Endowment fund.
The mentorship didn't stop at boardroom philosophy. Obama's push to stay "hands-on" with relationships inspired Chesky's $100 million Voyager Scholarship for public-service students and his own habit of phoning friends between busy workweeks, a tactic he says keeps success from becoming isolating.
Even Chesky's now-famous 2008 "<a href="https://www.benzinga.com/news/20/12/18700895/how-airbnb-sold-30-000-in-obama-mccain-ipoats-cereal-in-early-funding-days-1">Obama O's</a>" cereal stunt that kept Airbnb alive remains a popular anecdote in the startup&#8217;s origin story.
Read next: <a href="https://www.benzinga.com/markets/earnings/25/06/45909157/larry-ellison-says-most-of-the-worlds-valuable-data-is-in-oracle-as-ai-demand-skyrockets">Larry Ellison Says &#8216;Most Of The World&#8217;s Valuable Data&#8217; Is In Oracle As AI Demand Skyrockets</a>
Photo courtesy: Shutterstock

ABNB

Barack Obama Once Told Airbnb CEO Brian Chesky Not To Lead Like A 'Self-Driving Car:' Here's What Former President Meant

The student loan policies of the Trump administration, backed by Congressional Republicans, could pose a significant risk to the U.S. economy, potentially overshadowing concerns about Trump&#8217;s tariff policies, according to an expert.
What Happened: The student loan debt in the U.S. stands at an alarming $1.6 trillion, owed by nearly 43 million Americans, according to the U.S. Department of Education. Despite the gravity of the issue, discussions about student loan relief in Congress have been replaced by efforts to increase the burden on borrowers, as <a href="https://www.latimes.com/business/story/2025-06-12/forget-inflation-the-gops-policies-on-student-loans-will-crack-the-economy">reported</a> by the Los Angeles Times.
Aissa Canchola Bañez, Policy Director for the Student Borrower Protection Center, recently voiced concern over the potential economic harm this could cause. She criticized the administration for economically pressuring millions of Americans, which could further impact an already struggling economy.
"Instead of helping the 5 million borrowers that have fallen into default and the millions more that are behind and now at risk of default later this year, this Administration appears set on inflicting massive economic harm on millions of Americans.
Since the resumption of student loan payments, credit scores of about 9.7 million borrowers have significantly dropped, as per&nbsp;a report by the Federal&nbsp;Reserve Bank of New York. This has resulted in increased rejection rates for mortgage refinancings and other loans, which could further slow down the economy.
The budget bill, advanced by the GOP-controlled House, may heighten the financial strain on families already grappling with the cost of higher education. Critics contend that the primary winners of these proposed changes would be private student loan providers, including banks and private equity firms. SEE ALSO:&nbsp;<a href="https://benzinga.com/news/topics/25/06/45908840/as-layoffs-mount-one-question-is-getting-louder-what-happens-to-skyscraper-offices-in-cities-like-bos" target="_blank" rel="noreferrer noopener">As Layoffs Mount, One Question Is Getting Louder: What Happens To Skyscraper Offices In Cities Like Boston When People Are Replaced By AI?</a>
Why It Matters:&nbsp;On April 21, Education Secretary Linda McMahon announced that defaulted loans would be sent to collections, allowing wage garnishment and seizure of tax refunds and Social Security benefits. Following public backlash, the administration reversed plans to take Social Security from about 450,000 defaulting borrowers aged 62 and older.
Nevertheless, proposed changes by Republican lawmakers could <a href="https://www.benzinga.com/government/25/06/45878605/the-student-loan-funding-gap-is-growing-wider-is-congress-making-the-divide-irremediable">exacerbate </a>the student loan crisis, raising the cost of college for millions and accelerating a shift towards private lending. The draft legislation proposes eliminating or restricting several key federal student loan programs, which could deepen inequities and reduce access to higher education.
Furthermore, the Trump administration&#8217;s decision to restart collections <a href="https://www.benzinga.com/news/education/25/06/45880010/elizabeth-warren-says-millions-face-financial-scarlet-letter-as-trump-restarts-student-loan-collections-can-cost-someone-a-job-opportunity">on defaulted</a> federal student loans could result in millions of borrowers facing a &#8220;financial scarlet letter,&#8221; putting home purchases and job prospects at risk. The New York Federal Reserve projects a surge in defaults this summer, with roughly 2.2 million borrowers already seeing credit scores plunge more than 100 points since negative reporting resumed last fall.
<ul class="wp-block-list">
<li>READ MORE:&nbsp;<a href="https://benzinga.com/crypto/cryptocurrency/25/06/45918307/bitcoin-ethereum-dogecoin-bleed-after-israel-launches-premptive-strike-against-iran-analyst-foresees-lower-levels-for-eth-if-it-fails-to-hold-this-support" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Bleed After Israel Launches &#8216;Premptive Strike&#8217; Against Iran: Analyst Foresees &#8216;Lower Levels&#8217; For ETH If It Fails To Hold This Support &#8211; Grayscale Bitcoin Mini Trust (BTC) C</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Trump's Student Loan Policies Could Inflict 'Massive Economic Harm,' For Americans, Warns Expert: 'Instead Of Helping The 5 million Borrowers...'

In a bold projection, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) bull and Galaxy&nbsp;Digital&nbsp;CEO Mike Novogratz said Thursday that the apex cryptocurrency could grow tenfold to $1 million, eventually replacing gold as the top store of value asset.
What happened: During an <a href="https://www.cnbc.com/video/2025/06/12/bitcoin-is-now-a-macro-asset-says-galaxy-digital-ceo-mike-novogratz.html">interview</a> with CNBC, Novogratz called Bitcoin an &#8220;institutionalized macro asset&#8221; that investors assess alongside traditional heavyweights such as gold, silver and the S&amp;P 500
"People thought we were crazy," Novogratz remarked, recalling on the skepticism that once surrounded the cryptocurrency.
This turnaround, Novogratz argues, happened after BlackRock's Larry Fink, one of Wall Street's most influential voices, <a href="https://in.benzinga.com/markets/cryptocurrency/25/01/43150952/blackrock-ceo-larry-fink-says-bitcoin-could-rise-to-700000-on-fiat-fears-if-youre-frightened-of-the-debasement">threw his weight behind Bitcoin</a>.
&#8220;Once Larry Fink said BlackRock is getting behind this, all that pushing the snowball uphill that started rolling downhill. And now we&#8217;ve got all these treasury companies buying Bitcoin. We&#8217;ve got sovereign wealth buying Bitcoin. We&#8217;ve got retail investors buying Bitcoin,&#8221; Novogratz said. &#8220;I think that&#8217;s now a ball rolling downhill.&#8221;
Novogratz predicted that over time, young people would find it more appealing than the older generation. 
&#8220;And so gold slowly gets replaced by Bitcoin. If you look at gold&#8217;s market cap and Bitcoin&#8217;s market cap, Bitcoin has a long way to go, 10x, and so that&#8217;s $1 million in Bitcoin just to be where gold is.&#8221;
As of this writing, gold was indeed the most valued asset in the world, with a capitalization of around $23.144 trillion. Bitcoin&#8217;s market capitalization stood at $2.066 trillion.
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45740537/forget-dollars-willy-woo-says-bitcoin-will-be-priced-against-global-gdp-gold-used-to-be-that-money-btc-is-the-challenger">Forget Dollars: Willy Woo Says Bitcoin Will Be Priced Against Global GDP — &#8216;Gold Used To Be That Money, BTC Is The Challenger&#8217;</a>
Why It Matters: Interestingly, Novogratz's optimism about Bitcoin displacing gold comes at a time when the <a href="https://www.benzinga.com/crypto/25/06/45919140/gold-backed-cryptos-surge-as-israel-iran-tensions-ignite-safe-haven-rush-coins-linked-to-tether-pax-top-30-ytd-outshine-bitcoin">apex cryptocurrency</a> has sharply fallen due to geopolitical tensions in the Middle East. 
In fact, it was gold that behaved like a risk-off asset as investors sought refuge in the safe haven following&nbsp;<a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45918307/bitcoin-ethereum-dogecoin-bleed-after-israel-launches-premptive-strike-against-iran-analyst-foresees-lower-levels-for-eth-if-it-fails-to-hold-this-support" target="_blank" rel="noreferrer noopener">Israel&#8217;s strikes on Iran</a>.
Price Action:&nbsp; At the time of writing, BTC was exchanging hands at $104,367.99, down 3.62% 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>.&nbsp;Spot gold was up 0.83% to $3,414.82 per ounce as of this writing.
Read Next:&nbsp;
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Mike Novogratz Says Bitcoin Could Reach $1 Million As BlackRock's Larry Fink Pushes BTC Adoption, Gold Gets Replaced: 'A Ball Rolling Downhill'

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