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PAVmed

PAVmed Inc is a multi-product, commercial-stage medical technology company organized to advance a broad pipeline of medical technologies from concept to commercialization. The company operates in a single segment as a medical technology company, with the following lines of business: Diagnostics, Medical Devices, and Digital Health. Its products are EsoGuard, esocheck, and the Veris Cancer Care Platform.

PAVmed Inc

PAVmed Inc Warrants - Series Z (30/04/2024)

Widely followed cryptocurrency analyst Willy Woo predicted Monday that stablecoin issuing company Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>) would become the top holder of U.S. treasuries once Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) hits $1 million a piece.
What Happened: Woo reacted to an X post showcasing Tether's growing demand for U.S. Treasuries, which was surging ahead of many sovereign nations.
&#8220;The crazy thing is when BTC hits $1 million, Tether will likely be the #1 holder of U.S. treasuries,&#8221; Woo projected.
Dollar-pegged coins like USDT act as a bridge between the volatile cryptocurrency market and the traditional financial world. A rising Bitcoin price can signal increased interest in the broader cryptocurrency market, leading to a surge in demand for stablecoins.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The crazy thing is when BTC hits $1M, Tether will likely be the #1 holder of US treasuries. <a href="https://t.co/w0akbmYpMC">https://t.co/w0akbmYpMC</a>
&mdash; Willy Woo (@woonomic) <a href="https://twitter.com/woonomic/status/1924365547011248535?ref_src=twsrc%5Etfw">May 19, 2025</a></blockquote>
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Tether backs its $151 billion stablecoin by holding reserves of cash and cash equivalents, more than 80% of which is made up of U.S. treasuries.
Tether&#8217;s exposure to U.S. treasuries approached $120 billion, the firm <a href="https://tether.io/news/tether-approaching-120b-in-u-s-treasuries-confirms-quarterly-operating-profit-over-1b-and-strengthens-global-usdt-demand-in-q1-2025/">said </a>in its first quarter attestation&nbsp;report released earlier this month. This makes the firm a bigger holder of U.S. sovereign debt than Germany and the United Arab Emirates, according to data from the Treasury Department. Last year, Tether ranked as the <a href="https://www.benzinga.com/25/03/44433988/tether-is-now-too-big-to-fail-says-anthony-pompliano-citing-its-growing-role-in-us-treasury-markets">seventh-largest</a> buyer of U.S. Treasury bills.
While the company regularly publishes attestations of its reserves, critics have argued that only a full audit by a major global firm can verify the quality and stability of its backing.
See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/05/45510057/senate-crypto-bill-passes-key-vote-genius-act-moves-toward-final-passage" target="_blank" rel="noreferrer noopener">Arthur Hayes Forecasts Bitcoin Will Hit $200,000 In Next Bull Run, Anticipates Revival Of Fortunes For This &#8216;Hated&#8217; Coin</a>
Why It Matters: Woo&#8217;s prediction comes in the wake of the <a href="https://in.benzinga.com/markets/cryptocurrency/25/05/45510057/senate-crypto-bill-passes-key-vote-genius-act-moves-toward-final-passage">advancement of the GENIUS Act</a>, also known as the stablecoin bill, in the Senate. This legislation could potentially impact the role of stablecoins like Tether in the financial ecosystem.
Senator&nbsp;Bill Hagerty&nbsp;(R-Tenn.), the bill sponsor, stated that the legislation would ensure the U.S. dollar&#8217;s dominance and trigger demand for U.S. treasuries in the future.
Photo: DIAMOND VISUALS/Shutterstock
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://benzinga.com/markets/cryptocurrency/25/05/45498737/altcoin-rotation-is-coming-expert-says-will-eth-xrp-dogecoin-benefit" target="_blank" rel="noreferrer noopener">Altcoin Rotation Is Coming, Expert Says: Will ETH, XRP, Dogecoin Benefit?</a></li>
</ul>
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>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

News

Markets

$BTC

$USDT

Bitcoin's Rise To $1 Million Will Make Tether The Largest Holder Of US Treasuries, Says Popular Analyst

Meta Platforms, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) Instagram is reportedly testing a new referral program that pays creators for driving traffic and sign-ups, with <a href="https://www.benzinga.com/news/24/04/38085248/instagram-creators-can-now-earn-upto-30k-in-a-month-with-reels-photo-carousels-and-more-as-meta-revi">payouts as high</a> as $20,000.
What Happened: Instagram has launched an invite-only referral program, called "Referrals," aimed at U.S.-based creators, <a href="https://www.businessinsider.com/instagram-paying-creators-hundreds-dollars-drive-traffic-new-sign-ups-2025-5">reported</a> Business Insider on Monday.
The limited-time test rewards eligible creators for getting people to visit Instagram or sign up for a new account through links <a href="https://benzinga.com/25/03/44132618/meta-tiktok-and-snapchat-push-back-against-youtubes-exemption-from-australias-social-media-ban-for-children-under-16">shared off the platform</a>, such as on TikTok, YouTube, a subsidiary of Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google, Substack, Discord or personal websites.
See Also: <a href="https://www.benzinga.com/tech/25/05/45484235/facebook-vs-orkut-one-became-meta-with-a-1-6-trillion-market-cap-the-other-was-shut-down-by-google-heres-why">Facebook Vs. Orkut: One Became Meta With A $1.6 Trillion Market Cap, The Other Was Shut Down By Google: Here&#8217;s Why</a>
There are two payment tiers:
<ul class="wp-block-list">
<li>Some creators can earn $100 for every new eligible user who signs up via their referral link.</li>
<li>Others can earn $100 for every 1,000 eligible visits to the app generated through their shared links.</li>
</ul>
Payouts are capped at $20,000, and the six-week pilot will run from May through June, the report said. Meta has partnered with a third-party provider, Glimmer, to facilitate payments.
Meta did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga's</a> request for comments.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox. Why It&#8217;s Important: This isn't Meta's first creator payout strategy. Earlier this year, it offered bonuses between $2,500 and $50,000 to lure TikTok creators to post exclusive content on Instagram.
ByteDance-owned TikTok also introduced a referral program last year that offered users shopping discounts and other financial perks for getting their friends to join the app, the report added (<a href="http://theinformation.com/articles/tiktoks-latest-growth-hack-buying-new-users-with-discounts?shared=bb799cc79cbdf6a9">via</a> The Information).
The initiative also comes as Meta faces scrutiny in a <a href="https://www.benzinga.com/markets/equities/25/05/45462261/meta-asks-judge-to-dismiss-ftc-antitrust-case-mid-trial-says-instagram-whatsapp-deals-didnt-create-monopoly">high-profile antitrust case</a> brought by the Federal Trade Commission.
Price Action: Meta's stock dipped slightly by 0.0030% in after-hours trading, closing at $640.41, based on <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
According to Benzinga Edge Stock Rankings, META displayed a strong price trend across short, medium, and long-term periods. It held a solid momentum ranking in the 87th percentile, while its value ranking was moderately placed in the 76th percentile. Additional metric details <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">can be found 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 loading="lazy" decoding="async" width="444" height="283" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20010719/Screenshot-2025-05-20-at-14.07.00.png" alt="" class="wp-image-920622" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20010719/Screenshot-2025-05-20-at-14.07.00.png 444w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20010719/Screenshot-2025-05-20-at-14.07.00-300x191.png 300w" sizes="(max-width: 444px) 100vw, 444px" /></a></figure>
Photo Courtesy: Poetra.RH on Shutterstock.com
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/25/05/45421526/mark-zuckerberg-once-set-up-a-facebook-account-for-brooklyn-nine-nine-star-andy-samberg-then-persona" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Once Set Up A Facebook Account For Brooklyn Nine-Nine Star Andy Samberg, Then Personally Played Tech Support When Things Went A Bit Haywire</a></li>
</ul>
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.

Tech

Media

GOOGL

Instagram Is Offering Creators Up To $20,000 To Bring New Users To The Mark Zuckerberg-Led Platform — Here's The Nitty-Gritty

Shares of Chinese electric vehicle battery giant Contemporary Amperex Technology Co. Ltd. (CATL) jumped 12.5% in their Hong Kong trading debut Tuesday after raising $4.6 billion in the world&#8217;s largest listing this year.
What Happened: The Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) supplier opened at HK$296 ($37.83) per share, significantly above its HK$263 ($33.61) subscription price, Reuters reported.
CATL&#8217;s institutional tranche was oversubscribed 15.2 times while retail investors oversubscribed by 151 times, demonstrating strong market confidence despite U.S.-China trade tensions.
&#8220;The Hong Kong stock listing means our wider integration into the global capital market and a new starting point for us to promote the global zero-carbon economy,&#8221; CATL Founder and Chairman Robin Zeng said at the listing ceremony.
See Also: <a href="https://www.benzinga.com/markets/25/05/45510198/scott-bessent-says-us-will-continue-trading-with-china-while-strategically-reshoring-semiconductors-steel-and-pharmaceuticals-to-protect-national-security">Scott Bessent Says US Will &#8216;Continue Trading With China&#8217; While Strategically Reshoring Semiconductors, Steel, and Pharmaceuticals To Protect National Security</a>
Why It Matters: CATL, which commands a 38% global EV battery market share, plans to use the proceeds primarily for constructing a factory in Hungary to supply European automakers, including Bayerische Motoren Werke AG ADR (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>), Stellantis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>), and Volkswagen (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>).
The company&#8217;s first quarter 2025 net profit rose 32.9% year-on-year to 14 billion yuan ($1.91 billion), its <a href="https://www.benzinga.com/markets/asia/25/02/43613949/tesla-supplier-catl-eyes-5-billion-hong-kong-listing-amid-us-sanctions-market-revival-report">fastest growth pace in nearly two years</a>.
U.S. investors with offshore accounts participated despite CATL&#8217;s January inclusion on a U.S. Defense Department list of companies allegedly working with China&#8217;s military, a designation CATL is contesting as &#8220;false.&#8221;
Read Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/movers/25/05/45510197/bitcoin-ethereum-dogecoin-rally-as-senate-advances-key-crypto-bill-analyst-says-btc-could-touch-a-fresh-all-time-high-in-coming-days">Bitcoin, Ethereum, Dogecoin Rally As Senate Advances Key Crypto Bill: Analyst Says BTC Could Touch A Fresh All-Time High In Coming Days</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: Kittyfly / Shutterstock.com

Equities

Global

BMWYY

STLA

TSLA

VWAGY

Tesla Supplier CATL Soars 12.5% In $4.6 Billion Hong Kong IPO

BW LPG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BWLP#NYSE">BWLP</a>) reported quarterly earnings of $0.30 per share. This is a 71.96 percent decrease over earnings of $1.07 per share from the same period last year. The company reported $862.07 million in sales this quarter. This is a 16.95 percent decrease over sales of $1.04 billion the same period last year.

Earnings

BWLP

BW LPG Q1 EPS $0.30 Down From $1.07 YoY, Sales $862.07M Down From $1.04B YoY

Jim Cramer says if Moody's U.S. debt downgrade has you nervous, probably just grab some gold or Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) instead, if you must. 
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What Happened: The "Mad Money" host framed the metals-and-crypto pairing as the simplest hedge against Washington's ever-swelling tab, <a href="https://www.cnbc.com/2025/05/19/jim-cramer-tells-investors-to-tame-their-market-fears.html">reported</a> CNBC. Cramer reminded viewers that the market also swooned after S&amp;P's 2011 and Fitch's 2023 downgrades, only to recover. "Fear is what must be tamed, if you want to be a good investor," he said Monday.
Reading Friday's <a href="https://www.benzinga.com/25/05/45492889/americas-credit-strength-just-got-cut-again-should-you-panic">late-day notice</a> as a sell signal is "a mistake," he warned. "You are being given an early warning to invest more, not more aggressively, but more of what you can save. That's the real hedge if you're worried about the government's creditworthiness, not the ‘get out now.'"
Cramer added a sharp jab at perennial doomsayers: "The people who write these are either fools who know nothing or incredibly shrewd short sellers who really need to spread fear because of their business model."
See also: <a href="https://www.benzinga.com/markets/25/05/45510198/scott-bessent-says-us-will-continue-trading-with-china-while-strategically-reshoring-semiconductors-steel-and-pharmaceuticals-to-protect-national-security">Scott Bessent Says US Will &#8216;Continue Trading With China&#8217; While Strategically Reshoring Semiconductors, Steel, and Pharmaceuticals To Protect National Security</a>
His suggested hedges have already caught a bid: spot gold <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45501637/stocks-mixed-treasury-bonds-slip-on-moodys-us-downgrade-whats-driving-markets-monday">rose early</a> on Monday, and Bitcoin above $105,000 after a Senate vote advanced a <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45510057/senate-crypto-bill-passes-key-vote-genius-act-moves-toward-final-passage">stablecoin bill</a>.
Why It Matters: U.S. markets mostly shrugged off Moody's cut to America's last triple-A badge. The S&amp;P 500 hovered at Friday's close, the Dow eked out gains for a sixth straight session, and small-caps lagged. Thirty-year Treasury yields spiked above 5% before buyers yanked them back to 4.95%, while the dollar index slipped 0.6% and energy shares led the day's modest losers as crude dipped and natural-gas prices sank 6%.
Beyond the immediate price action, the downgrade rekindled worries that chronic U.S. borrowing could chip away at the dollar's <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45497403/is-the-dollars-global-reserve-role-at-risk-after-moodys-downgrade">reserve-currency crown</a>. Meanwhile, economist Peter Schiff took Treasury Secretary Scott Bessent to task for <a href="https://www.benzinga.com/government/regulations/25/05/45491632/peter-schiff-slams-scott-bessent-for-ignoring-trumps-tax-cuts-in-moodys-downgrade-blaming-biden-instead-its-only-lagging-in-that-moodys-should-have-acted-sooner">pinning the blame</a> solely on former President Joe Biden, insisting that Trump-era tax cuts and bipartisan spending excess paved Moody's path to the axe.
Price Action: At the time of writing, Bitcoin traded 2.12% higher at $105,647.95. Spot Gold was seen 0.52% lower at $3,212.29. June 2025 Gold COMEX Futures were down 0.54% at $3,216.20.
Photo courtesy: katz / Shutterstock.com
Read next: <a href="https://www.benzinga.com/tech/25/05/45510245/elon-musk-was-once-a-microsoft-intern-now-his-company-is-bringing-grok-to-azure-incredibly-important-for-ai-to-be-grounded-in-reality-xai-ceo-tells-satya-nadella">Elon Musk Was Once A Microsoft Intern — Now His Company Is Bringing Grok To Azure: &#8216;Incredibly Important For AI To Be Grounded In Reality,&#8217; xAI CEO Tells Satya Nadella</a>

Commodities

Jim Cramer Recommends Bitcoin As A Hedge For Investors Rattled By Moody's Downgrade But Says, 'Fear Is What Must Be Tamed'

Macro Economic Events

Econ #s

Economics

Reported Earlier, People's Bank of China Loan Prime Rate 3.00% Vs. 3.00% Est.; 3.10% Prior

Reported Earlier, China Loan Prime Rate 5Y For May 3.50% Vs. 3.50% Est.; 3.60% Prior

Australia Interest Rate Decision For May 3.85% Vs. 3.85% Est.; 4.10% Prior

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk returned to his Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) roots on Monday, joining CEO Satya Nadella at &#8220;Build 2025&#8221; to <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45505379/whats-going-on-with-microsoft-stock">announce the integration</a> of xAI's Grok into Azure — a full-circle moment for the tech billionaire who once interned at the software giant.
What Happened: Speaking for a brief chat at Microsoft's annual developer conference, Nadella welcomed Musk, recalling his early connection to the company.
"I know you started off as an intern at Microsoft. You were a Windows developer and of course, you're a big PC gamer still," Nadella said.
Musk reflected on those early days, saying, "I had one of the early IBM PCs with MS-DOS… I programmed video games in DOS, and then later in Windows. Remember Windows 3.1?"
See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/25/05/45398101/microsoft-to-cut-6000-jobs-in-global-restructuring-joins-meta-and-amazon-in-trimming-workforce-amid-ai-driven-shift" target="_blank" rel="noreferrer noopener">Microsoft To Cut 6,000 Jobs Globally Amid AI-Driven Shift, Says Changes Necessary To ‘Best Position The Company For Success'</a>
The conversation quickly turned to AI, as the two tech leaders introduced Grok&#8217;s integration with Microsoft's Azure cloud platform.
Musk shared insights into Grok 3.5 — xAI's newest model, highlighting its foundation in physics-based reasoning."It&#8217;s incredibly important for an AI model to be grounded in reality… I've not seen anyone break the laws of physics."
Musk also highlighted Grok's real-world applications in Tesla, SpaceX and customer service, where its performance has already shown promise. "You can yell at it, and it's still going to be very nice," he joked.
Nadella added, "Cracking the physics of intelligence is perhaps the real goal for us to be able to use AI at scale."
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://t.co/jsYuNR7VdH">pic.twitter.com/jsYuNR7VdH</a>
&mdash; Kekius Maximus (@elonmusk) <a href="https://twitter.com/elonmusk/status/1924597562167984242?ref_src=twsrc%5Etfw">May 19, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It's Important: Microsoft has become one of the earliest major cloud providers to offer managed access to Grok. Through its Azure AI Foundry platform, Microsoft will make both Grok 3 and Grok 3 Mini available with the same service-level guarantees it provides for its other products.
Customers will also receive billing directly from Microsoft, consistent with how other AI models are offered on the platform.
However, according to The Verge, this unexpected decision may stir controversy due to Microsoft's strong partnership with ChatGPT creator OpenAI. The report also noted that Nadella has <a href="https://www.benzinga.com/media/25/05/45463922/satya-nadella-once-bet-big-on-chatgpt-maker-openai-now-hes-reportedly-embracing-rivals-like-deepseek-and-building-cheaper-ai-models-to-future-proof-microsoft">been advocating within the company</a> to bring Grok onboard, aiming to position Microsoft as the go-to platform for hosting the most widely used AI models.
Interestingly, Musk has previously taken pot shots at the partnership between Microsoft and OpenAI — the AI company he co-founded in 2015 but exited in 2018. He has repeatedly said that Microsoft holds <a href="https://www.benzinga.com/news/24/03/37864558/elon-musk-draws-attention-to-satya-nadellas-words-in-lawsuit-if-openai-disappeared-tomorrow-we-have">too much influence over OpenAI</a>.
In 2023, <a href="https://www.benzinga.com/news/23/05/32439672/satya-nadella-says-elon-musks-claims-about-microsoft-controlling-openai-factually-not-correct">Nadella pushed back on Musk's allegation</a>, saying that Microsoft holds a non-controlling stake and describing the relationship as a strong commercial partnership.
Price Action: On Monday, Microsoft stock rose by 1.01%, closing at $458.87. It saw a slight additional uptick of 0.028% in after-hours trading, according to <a href="http://pro.benzinga.com/">Benzinga Pro data</a>.
Benzinga Edge Stock Rankings give Microsoft a growth score of 65.72%. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see how it stacks up against other major stocks</a> like Tesla.
<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/2025/05/19231826/Screenshot-2025-05-20-at-8.48.18%E2%80%AFAM.png" alt="" class="wp-image-920561" /></a></figure>
Shutterstock/Joshua Sukoff
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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<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.

MSFT

Elon Musk Was Once A Microsoft Intern — Now His Company Is Bringing Grok To Azure: 'Incredibly Important For AI To Be Grounded In Reality,' xAI CEO Tells Satya Nadella

Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) announced Monday it has secured exclusive global rights, excluding China, to 3SBio Inc.&#8216;s bispecific antibody SSGJ-707 in a deal potentially worth up to $6 billion.
The agreement includes a $1.25 billion upfront payment to the Chinese biopharmaceutical company, with additional milestone payments of up to $4.8 billion. Pfizer will also make a $100 million equity investment in 3SBio upon closing, expected in the third quarter of 2025.
SSGJ-707, which targets PD-1 and VEGF pathways simultaneously, is currently in clinical trials for non-small cell lung cancer, metastatic colorectal cancer, and gynecological tumors in China. 3SBio plans to initiate Phase 3 trials there in 2025.
The transaction gives Pfizer manufacturing and commercialization rights globally except China, with an option for Chinese market rights. If approved, Pfizer will produce the drug substance in North Carolina and the drug product in Kansas, while paying 3SBio tiered double-digit royalties on sales.
Read Next: 
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<li><a href="https://www.benzinga.com/25/05/45496095/novavax-scores-key-fda-win-shares-jump-19-as-sanofi-milestone-unlock">Novavax Scores Key FDA Win, Shares Jump 19% As Sanofi Unlocks Milestone Payment</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: ShU studio/Shutterstock

Health Care

Pfizer Secures Global Rights To China's 3SBio's Cancer Drug In $6 Billion Deal

Treasury Secretary Scott Bessent made fresh clarifications on the country&#8217;s evolving trade posture, particularly in relation to China, and the reshoring of critical supply chains.
What Happened: On Sunday, Bessent posted a video clip on X from his recent appearance on CNN's State of the Union with Jake Tapper. The segment focused on U.S.-China trade relations and Bessent's comments on the administration's push to reshore key industries linked to national security.
See Also: <a href="https://www.benzinga.com/25/05/45509854/he-made-this-mess-schumer-slams-trump-over-rising-prices-says-walmarts-transparency-exposes-economic-reality-of-tariffs">Chuck Schumer Slams Trump Over Rising Prices, Says Walmart&#8217;s Transparency Exposes &#8216;Economic Reality&#8217; of Tariffs: &#8216;He Made This Mess&#8217;</a>
&#8220;Our goal is not to decouple from China, but to open markets and restore balance,&#8221; Bessent writes alongside the video excerpt. &#8220;We'll continue trading with China, especially in non-strategic goods, and at lower tariff levels,&#8221; he says.
In the clip, Bessent highlighted the administration's focus on restoring domestic production in industries deemed vital to national security. &#8220;During COVID, we realized that we had some very strategic shortfalls, whether it was medicines, semiconductors, steel,&#8221; he said. &#8220;Those are the industries we're working to bring back.&#8221;
Bessent reiterates in the video that they &#8220;don't want to decouple with China," and that &#8220;President [Donald] Trump actually wants to open up China for business.&#8221;
<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">Our goal is not to decouple from China, but to open markets and restore balance. We'll continue trading with China, especially in non-strategic goods, and at lower tariff levels. At the same time, we're focused on reshoring critical industries like medicine, semiconductors, and… <a href="https://t.co/iutsNwQXnT">pic.twitter.com/iutsNwQXnT</a>
&mdash; Treasury Secretary Scott Bessent (@SecScottBessent) <a href="https://twitter.com/SecScottBessent/status/1924113999224078402?ref_src=twsrc%5Etfw">May 18, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: This comes just a week after a <a href="https://www.benzinga.com/government/regulations/25/05/45345994/us-china-tariff-truce-will-alleviate-worst-fears-but-prevent-falling-yields-keeping-economy-under-pressure-says-craig-shapiro">truce was reached</a> between the two countries in Geneva, when tariffs were rolled back to 30% from 145%.
During the interview, Bessent nonetheless <a href="https://www.benzinga.com/markets/25/05/45486508/scott-bessent-signals-liberation-day-2-0-coming-if-countries-dont-sign-trade-deals-president-trump-has-put-them-on-notice">issued a fresh warning</a> to America&#8217;s biggest trading partners, saying that tariffs could soon snap back to their &#8220;reciprocal&#8221; levels seen during &#8220;Liberation Day,&#8221; if they fail to negotiate in good faith.
While speaking with Jake Tapper on Sunday, Bessent downplayed the Moody&#8217;s <a href="https://www.benzinga.com/markets/25/05/45484954/treasury-secretary-bessent-addresses-moodys-downgrade-and-tariff-impact-n-walmart">downgrading of U.S. Government debt</a>, calling it a &#8220;lagging indicator.&#8221;
Photo Courtesy: Maxim Elramsisy On Shutterstock.com
Read More: 
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<li><a href="https://www.benzinga.com/government/regulations/25/05/45506863/trumps-big-beautiful-bill-advances-heres-who-wins-and-loses">Trump&#8217;s &#8216;Big Beautiful Bill&#8217; Advances: Here&#8217;s Who Wins And Loses</a></li>
</ul>

Government

Scott Bessent Says US Will 'Continue Trading With China' While Strategically Reshoring Semiconductors, Steel, and Pharmaceuticals To Protect National Security

Leading cryptocurrencies rose Monday amid the <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45510057/senate-crypto-bill-passes-key-vote-genius-act-moves-toward-final-passage">advancement of a stablecoin legislation</a> in the Senate.
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 10:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+1.41%</td>
<td>$106,510.09</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>+6.81%</td>
<td>$2,579.90</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>+2.14%</td>
<td>$0.2291</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin recaptured $106,000 after tapping liquidity and bouncing off the support around $102,000.
Ethereum fought off the Sunday correction, surging over 7% to reclaim the mid-$2,500s. The second-largest cryptocurrency's market dominance once again rose above 9%.
These moves coincided with the Senate&#8217;s vote to advance the GENIUS Act, often known as the stablecoin bill, opening the door for its final passage.
Nearly $300 million was liquidated from the cryptocurrency market in the last 24 hours, with over $150 million in bullish bets getting erased.
Bitcoin's Open Interest rose 5.92% in the last 24 hours, while funds locked in Ethereum's derivatives spiked by over 8%.&nbsp;
Interestingly, over 57% of top traders on Binance with an open BTC position were short on the apex cryptocurrency.
The "Greed" sentiment prevailed in the market, according to the Crypto Fear and Greed Index, indicating strong buying demand.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 10:30 p.m. ET)</td>
</tr>
<tr>
<td>Aave (AAVE)</td>
<td>+19.41%</td>
<td>$265.34</td>
</tr>
<tr>
<td>Curve DAO Token (CRV)</td>
<td>+9.53%</td>
<td>$0.7403</td>
</tr>
<tr>
<td>Pendle (PENDLE)</td>
<td>+8.91%</td>
<td>$4.43</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.35 trillion, following a marginal dip of 0.08% in the last 24 hours.
Stocks began the new trading week on a high. The Dow Jones Industrial Average rose 137.33 points, or 0.32%, to end at 42,792.07. The S&amp;P 500 recorded its sixth consecutive day of gains, closing 0.09% higher at 5,963.60. The tech-focused Nasdaq Composite eked out a gain of 0.02% to end at 19,215.46.
Bond yields rose after <a href="https://www.benzinga.com/markets/25/05/45484954/treasury-secretary-bessent-addresses-moodys-downgrade-and-tariff-impact-n-walmart">Moody's downgraded the U.S. long-term credit rating</a>, with the 30-year Treasury yields<a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45500872/30-year-treasury-yields-hit-5-what-that-means-for-stocks"> spiking</a> to 5%—a level unseen since October 2023—while the benchmark 10-year yield topped 4.5%.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: In a note to Benzinga, Arthur Azizov, founder and investor of B2 Ventures, said that Bitcoin bulls were now in control, with strong support at $102,000 and robust resistance around $106,000.
"If buyers manage to push through this range, especially with the return of the Coinbase premium, which hints at renewed U.S. demand, then a new ATH could be set within a week or slightly more," Azizov said.&nbsp;
He added that BTC has the ingredients to break through $108,000 and test the $110,000 level, where a psychological resistance may arise.
Cryptocurrency analyst and trader Michaël van de Poppe weighed in on the "typical" Sunday rally and subsequent retrace on Monday.
"Now, that move is over and Bitcoin is back at $105,000, ready to test the all-time high in the coming 1-2 weeks. Altcoins to outperform," Van De Poppe predicted.
<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">Typical weekend move on <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>. Sweeping the high for liquidity and reversing back downwards. Now, that move is over and Bitcoin is back at $105,000 ready to test the all-time high in the coming 1-2 weeks.<a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> to outperform.
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1924529234976112737?ref_src=twsrc%5Etfw">May 19, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo Courtesy: alfernec on Shutterstock.com
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
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<li><a href="https://www.benzinga.com/25/05/45509721/elizabeth-warren-urges-congress-to-vote-against-genius-act-citing-potential-for-trumps-corruptionanthony-scaramucci-warns-democrats-against-political-suicide">Elizabeth Warren Urges Congress To Vote Against Crypto Bill, Saying It Turbocharges Trump Corruption — Anthony Scaramucci Warns Democrats Against &#8216;Political Suicide&#8217;</a></li>
</ul>

Movers

Trading Ideas

$DOGE

$ETH

Bitcoin, Ethereum, Dogecoin Rally As Senate Advances Key Crypto Bill: Analyst Says BTC Could Touch A Fresh All-Time High In Coming Days

Nippon Steel Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NPSCY#OTC">NPSCY</a>) has pledged to invest $14 billion in United States Steel Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) operations, including up to $4 billion for a new steel mill, as part of efforts to secure the Donald Trump administration&#8217;s approval for its $14.9 billion acquisition bid, according to documents.
The Japanese steelmaker plans to allocate $11 billion toward U.S. Steel&#8217;s infrastructure through 2028, Reuters reported citing sources, significantly increasing its initial commitment of $1.4 billion. 
The enhanced investment package comes ahead of a crucial May 21 deadline for a national security review, after which Trump will have 15 days to decide the deal&#8217;s fate.
Former President Joe Biden and Trump have previously opposed the merger, advocating that U.S. Steel remain American-owned &#8211; a position particularly resonant in the swing state of Pennsylvania, where the company is headquartered.
Biden <a href="https://www.benzinga.com/trading-ideas/movers/25/01/42787508/biden-blocks-14-9b-us-steel-takeover-shares-plunge">blocked the deal in January</a>, citing national security concerns, prompting lawsuits from both companies.
Nippon Steel Corp. and United States Steel Corp. did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
Price Action: United States Steel Corp stock closed at $41.62 on Monday, up 3.15%. After hours, it rose to $41.78, up 0.38%. Year to date, the stock is up 27.67%.
Nippon Steel Corp closed at ¥2,870 ($19.78) on Tuesday on the Tokyo Exchange, down 0.19%. Year to date, it is down 9.12%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Poetra.RH / Shutterstock.com

NPSCY

Nippon Steel Pledges $14 Billion, Including New US Mill, To Win Trump's Approval For US Steel Deal: Report

U.S. stock markets ended the day higher, with the S&amp;P 500 logging its fifth straight gain. The Nasdaq led the charge, jumping 4.36% to close at 19,215.46, fueled by a surge in tech stocks. The Dow Jones added around 137 points, or 0.3%, to finish at 42,792.07, while the S&amp;P 500 inched up 0.09% to 5,963.60.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
UnitedHealth Group Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>)
UnitedHealth shares surged 8.21% to close at $315.89, with an intraday high of $316.29 and a low of $297.25. The stock has a 52-week range of $630.73 to $248.88. The rise comes after a <a href="https://www.benzinga.com/25/05/45494155/unitedhealth-stock-is-rising-monday-whats-going-on">relief bounce</a> following a significant selloff last week. The stock has faced pressure throughout the year, with shares down 42% year-to-date. The decline accelerated in April due to weak first-quarter results that missed analyst estimates.
CoreWeave Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWV#NASDAQ">CRWV</a>)
CoreWeave&#8217;s stock climbed 7.83% to end at $86.59, hitting an intraday high of $88.9 and a low of $76.08. The stock reached a 52-week high of $88.90, with a low of $33.52. The Nvidia-backed AI cloud infrastructure company saw a 45% increase over the past week. This surge was fueled by a 13F filing revealing Nvidia&#8217;s major stake and <a href="https://www.benzinga.com/news/25/05/45498149/coreweave-crwv-stock-is-up-42-over-the-past-week-whats-going-on">analyst upgrades</a> from JPMorgan, BofA, and Needham.
Mullen Automotive Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MULN#NASDAQ">MULN</a>)
Mullen Automotive shares skyrocketed 100.12% to $0.34, with a high of $0.49 and a low of $0.17. The dramatic increase is attributed to a short squeeze triggered by preliminary second-quarter results. The company filed a notice of delayed quarterly results, which included unaudited figures showing improved financial performance, sparking <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45503758/mullen-automotive-stock-is-ripping-higher-monday-whats-driving-the-action">retail investor interest</a>.
Microsoft Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)
Microsoft&#8217;s stock rose 1.01% to close at $458.87, with an intraday high of $459.59 and a low of $450.8. The stock is nearing its all-time high of $468.35, with a 52-week low of $344.79. The increase is driven by ongoing momentum in artificial intelligence and <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45505379/whats-going-on-with-microsoft-stock">cost-cutting measures</a>, positioning the stock close to record levels. The company announced the addition of xAI&#8217;s Grok and other AI tools for Azure data centers at its Build developer conference.
Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla shares fell 2.25% to $342.09, with a high of $343 and a low of $333.37. The stock&#8217;s 52-week range is $488.54 to $157.40. The decline follows comments from Future Fund LLC&#8217;s managing director, Gary Black, who suggested that <a href="https://www.benzinga.com/25/05/45488706/gary-black-thinks-expectations-for-teslas-robotaxi-launch-are-too-high-currently-teslas-autonomy-cant">expectations for Tesla&#8217;s Robotaxi launch</a> in Austin might be overly optimistic.
Benzinga Edge Stock Rankings indicate Tesla has a Momentum in the 94th percentile but Growth in the 45th percentile. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Does Rivian beat Tesla in terms of Growth?</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="440" height="279" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/19231905/Screenshot-2025-05-20-at-12.18.49.png" alt="" class="wp-image-920564" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/19231905/Screenshot-2025-05-20-at-12.18.49.png 440w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/19231905/Screenshot-2025-05-20-at-12.18.49-300x190.png 300w" sizes="(max-width: 440px) 100vw, 440px" /></a></figure>
Photo Courtesy: Phongphan On Shutterstock.com
Prepare for the day&#8217;s trading&nbsp;<a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a>&nbsp;by Benzinga.
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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>

CRWV

MULN

Unitedhealth, Coreweave, Mullen Automotive, Microsoft, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Mark Cuban just swam his final lap in Shark Tank. The billionaire's last episode aired Friday, capping a 15-season run on the show, to spend more time with family. While not every one of Cuban's 200-plus deals made on the show paid off, a handful became huge successes. Here are five that made him serious money.
<h3 class="wp-block-heading">Dude Wipes</h3>
Cuban took a 25% stake in Dude Wipes in 2015 during Season 7 of Shark Tank for $300,000. The flushable wipes brand has since racked up over $200 million in <a href="https://www.wsj.com/business/retail/sean-riley-dude-wipes-55dd042f">annual revenue</a>, according to WSJ. Cuban has even publicly stated in 2021 in an <a href="https://www.cnbc.com/2021/11/24/dude-wipes-founders-why-we-shouldve-followed-mark-cubans-top-advice.html">interview</a> with CNBC that the company is among his favorite investments, adding that the startup is "killing it" and "taking over the toilet paper category."
<h3 class="wp-block-heading">Tower Paddle Boards</h3>
Tower Paddle Boards landed a $150,000 deal from Cuban for 30% equity in 2011 in what was just the third season of Shark Tank at the time. The company's growth has since paid Cuban over $1 million in dividends. The company's flagship product is inflatable paddle boards, but now also sells hard paddle boards, inflatable docks and lifestyle products meant for the beach.
See also: <a href="https://www.benzinga.com/markets/equities/25/05/45488926/jamie-dimons-exit-looms-turning-jpmorgans-investor-day-into-ceo-audition-whos-leading-the-race-to-succeed-wall-streets-top-boss">Jamie Dimon&#8217;s Exit Looms, Turning JPMorgan&#8217;s Investor Day Into CEO Audition: Who&#8217;s Leading The Race To Succeed Wall Street&#8217;s Top Boss?</a>
<h3 class="wp-block-heading">Nuts 'N More</h3>
Nuts 'N More snagged a $250,000 investment from Cuban for 35% of the company back in 2013. Cuban loved that it satisfied his sweet tooth without guilt: "I'm always looking for foods that solve my sweet tooth and are healthy. This company fit that bill perfectly," he told the Dallas Business Journal. The peanut butter venture went on to average about <a href="https://www.foodrepublic.com/1337991/nuts-n-more-shark-tank-now/">$6 million</a> in annual sales, according to Food Republic.
<h3 class="wp-block-heading">Simple Sugars</h3>
Skincare startup Simple Sugars caught Cuban's eye in 2013 and landed $100,000 for one-third equity. Cuban checked in on the brand in a 2018 "Beyond the Tank" episode, where Lazzari said her new goal was to become a $30 million business. Cuban called Lani Lazzari a "mini-me" hustler, and by 2023, the company was topping $5 million in yearly revenue, according to Shark Tank Recap, which is a website that closely tracks companies that get featured on the show.
<h3 class="wp-block-heading">Prep Expert</h3>
When Prep Expert (formerly 2400 Expert) pitched its SAT/ACT test prep business in 2016, Cuban jumped in with an offer of $250,000 for 20%. The company's sales jumped from around $1 million to roughly $5 million annually. Cuban told Inc.com in 2016 that he has "<a href="https://www.inc.com/helena-ball/mark-cuban-most-successful-shark-tank-company-founder-tells-all.html">yet to fail</a>" when partnering with determined entrepreneurs like founder Shaan Patel.
Photo Courtesy: Kathy Hutchins On Shutterstock.com
Read next: <a href="https://www.benzinga.com/markets/emerging-markets/25/05/45487876/america-must-shift-roles-from-world-police-to-world-gun-store-says-palmer-luckey">America Must Shift Roles From &#8216;World Police&#8217; To &#8216;World Gun Store,&#8217; Says Palmer Luckey</a>

Startups

Small Business

Mark Cuban's $300,000 Toilet Paper Bet Now Makes $200M Annually — These 5 Shark Tank Bets Made Him Millions

The Senate voted in favor of advancing the GENIUS Act, also known as the stablecoin bill, Monday night, overcoming a key procedural hurdle and paving the way for the bill&#8217;s final passage.
What Happened: The Senate managed to exceed the three-fifths majority, or the 60-vote threshold, required to invoke cloture and end debate. This action is intended to usher the legislation into a period of extended debate prior to a series of final votes that will determine its passage out of the Senate.
Senator&nbsp;Bill Hagerty&nbsp;(R-Tenn.), the bill sponsor, deemed the development as &#8220;groundbreaking,&#8221; stating that it would ensure the U.S. dollar dominance and trigger demand for U.S. treasuries.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Tonight, the Senate moved forward on the GENIUS Act. This groundbreaking, bipartisan legislation will bring America's payment system into the 21st century. The GENIUS Act skyrockets the United States with a digital payment framework with the fastest rails possible. It will…
&mdash; Senator Bill Hagerty (@SenatorHagerty) <a href="https://twitter.com/SenatorHagerty/status/1924643607899685205?ref_src=twsrc%5Etfw">May 20, 2025</a></blockquote>
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See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/05/45489390/crypto-traders-who-secured-a-dinner-with-donald-trump-walked-away-with-major-profits-says-" target="_blank" rel="noreferrer noopener">Crypto Traders Who Secured A Dinner With Donald Trump Walked Away With Major Profits, Says Analysis</a>
The House of Representatives is&nbsp;simultaneously working on its own version of the stablecoin legislation. The proposed legislation aims to establish the first U.S. regulatory framework for issuers of stablecoins—digital tokens that are tied to fiat currencies like the dollar. As of this writing, Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>) was the largest stablecoin by market capitalization
Despite early bipartisan momentum, the bill failed a <a href="https://www.benzinga.com/content/45327068/scott-bessent-slams-48-49-senate-snub-will-genius-act-failure-cost-u-s-crypto-crown">procedural vote</a> on May 8 after Senate Democrats abruptly pulled support over national security concerns, AML provisions, and last-minute resistance from key lawmakers.
The bill passed the closure vote despite vehement opposition by Sen.&nbsp;Elizabeth Warren&nbsp;(D-Mass.), who <a href="https://www.benzinga.com/25/05/45509721/elizabeth-warren-urges-congress-to-vote-against-genius-act-citing-potential-for-trumps-corruptionanthony-scaramucci-warns-democrats-against-political-suicide">alleged</a> that the legislation would &#8220;turbocharge&#8221; President Donald Trump&#8217;s corruption.
Photo Courtesy: Framalicious on Shutterstock.com
Read Next:&nbsp;
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<li><a href="https://benzinga.com/25/05/45498356/whales-accumulate-cardano-amid-price-drop-and-litecoin-integration-etf-buzz" target="_blank" rel="noreferrer noopener">Cardano Price: Tightening Structure, Whale Action Signal Big Move For ADA</a></li>
</ul>

Politics

Senate Crypto Bill Passes Key Vote, GENIUS Act Moves Toward Final Passage

Senate minority leader, Chuck Schumer (D-N.Y.), is not holding back in his criticism of President Donald Trump over rising consumer prices, placing blame squarely on the latter&#8217;s tariff policies.
What Happened: On Monday, in a post on X, Schumer called out Trump for &#8220;trying to bully&#8221; Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) for being transparent about price increases resulting from the tariffs.
See Also: <a href="https://www.benzinga.com/news/management/25/05/45508514/jpmorgan-ceo-jamie-dimon-warns-huge-deficits-complacent-central-banks-could-lead-to-stagflation">JPMorgan CEO Jamie Dimon Warns &#8216;Huge Deficits,&#8217; &#8216;Complacent Central Banks&#8217; Could Lead To Stagflation</a>
The Democratic leader believes Trump is targeting businesses to deflect attention from the consequences of his trade policies. &#8220;Trump can try to blame businesses,&#8221; he said, &#8220;but he [Trump] can't escape the economic realities of his own trade war.&#8221;
Schumer says &#8220;he [Trump] made this mess,&#8221; and it was Trump, and not Walmart, who is responsible for &#8220;sending prices up&#8221; in recent months.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Trump is now trying to bully Walmart for being transparent about raising prices due to Trump&#39;s tariffs. Trump can try to blame businesses, but he can't escape the economic realities of his own trade war. He made this mess. He&#39;s sending prices up. <a href="https://t.co/b1zhdJBK6b">pic.twitter.com/b1zhdJBK6b</a>
&mdash; Chuck Schumer (@SenSchumer) <a href="https://twitter.com/SenSchumer/status/1924615261564334444?ref_src=twsrc%5Etfw">May 19, 2025</a></blockquote>
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Why It Matters: This comes just days after Trump posted on Truth Social, <a href="https://www.benzinga.com/markets/25/05/45484675/trumps-tariff-challenge-amid-rising-price-concerns-president-tells-walmart-to-eat-the-tariffs">urging Walmart</a> to &#8220;Eat The Tariffs,&#8221; instead of passing on the costs to its consumers
Others, such as economist Peter Schiff, have <a href="https://www.benzinga.com/25/05/45486985/peter-schiff-slams-trumps-tariff-logic-higher-prices-are-necessary-to-shrink-trade-deficit">expressed similar views</a>, calling out the lack of logic in Trump&#8217;s arguments. &#8220;If the goal of tariffs is to reduce our trade deficit, the only way that will happen is if Walmart and other importers raise their prices,&#8221; he said.
The CEOs of Walmart, Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) and Home Depot Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) told Trump during a meeting at the Oval Office last month that &#8220;the shelves will be empty&#8221; if the <a href="https://benzinga.com/25/05/45404626/walmart-target-home-depot-ceos-tell-trump-prices-will-rise-shelves-will-be-empty-if-tariffs-persist">tariffs continue to persist</a>.
&#8220;The big box CEOs flat out told him [Trump] the prices aren't going up; they're steady right now, but they will go up,&#8221; one leading administration official said. 
Price Action: Walmart shares were down 0.12% on Monday, trading at $98.12, and are down 0.11% in after-hours trading. 
<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="131" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/19215753/Screenshot-2025-05-20-at-7.27.37-AM-1024x131.png" alt="" class="wp-image-920513" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/19215753/Screenshot-2025-05-20-at-7.27.37-AM-1024x131.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/19215753/Screenshot-2025-05-20-at-7.27.37-AM-300x38.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/19215753/Screenshot-2025-05-20-at-7.27.37-AM-768x98.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/19215753/Screenshot-2025-05-20-at-7.27.37-AM-1536x196.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/19215753/Screenshot-2025-05-20-at-7.27.37-AM.png 1616w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Walmart shares show a favorable price trend in the short, medium, and long-term, according to Benzinga&#8217;s Edge Stock Rankings. Take a look at some deeper metrics and figures <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a>. 
Photo Courtesy: Bumble Dee On Shutterstock.com
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<li><a href="https://www.benzinga.com/government/regulations/25/05/45506863/trumps-big-beautiful-bill-advances-heres-who-wins-and-loses">Trump&#8217;s &#8216;Big Beautiful Bill&#8217; Advances: Here&#8217;s Who Wins And Loses</a></li>
</ul>

Chuck Schumer Slams Trump Over Rising Prices, Says Walmart's Transparency Exposes 'Economic Reality' of Tariffs: 'He Made This Mess'

Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) <a href="https://www.benzinga.com/25/02/43649987/google-io-2025-officially-set-for-may-20-21-heres-what-to-expect-from-ai-breakthroughs-to-the-future-of-android-and-pixel-9a">annual developer conference</a>, Google I/O 2025, will kick off tomorrow, May 20, and run through May 21 at the Shoreline Amphitheater in Mountain View, California. On Monday, one top analyst said the stakes couldn't be higher for the company's future in search.
What Happened: In a post on X, formerly Twitter, Deepwater Asset Management's Gene Munster called Google's developer conference a "big deal," underscoring the pressure on the company to modernize search before competitors do.
&#8220;It's the company's chance to prove it's not afraid of the innovator's dilemma and that it's willing to take bold, outside-the-box steps to stay relevant in generative AI without blowing up the business model that built it,&#8221; Munster stated.
See Also: <a href="https://www.benzinga.com/tech/25/05/45486639/sundar-pichai-reveals-google-parent-once-super-intensely-debated-about-buying-netflix-in-a-world-of-butterfly-effects">Sundar Pichai Reveals Google-Parent Once Super Intensely Debated About Buying Netflix: &#8216;In A World Of Butterfly Effects…&#8217;</a>
He noted that with competition from OpenAI's ChatGPT, Anthropic's Claude and xAI's Grok, users are spending less time on traditional search. While AI Overviews have boosted some usage, the overall growth in Search is slowing.
The core tension: users want quick, direct AI answers, not pages of blue links.
&#8220;I still don't know how they thread the needle between giving consumers what they want (a simple trusted answer) while still giving investors what they want (revenue growth with continued high margins),&#8221; Munster noted.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Tomorrow's Google I/O annual developer day is a big deal. It's the company's chance to prove it's not afraid of the innovator's dilemma and that it's willing to take bold, outside-the-box steps to stay relevant in generative AI without blowing up the business model that built it.…
&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1924472647158554639?ref_src=twsrc%5Etfw">May 19, 2025</a></blockquote>
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Why It's Important: Alphabet Inc. reported <a href="https://www.benzinga.com/25/04/44995955/alphabet-q1-earnings-highlights-google-search-youtube-cloud-show-robust-momentum">first-quarter revenue</a> of $90.23 billion, marking a 12% increase from the same period last year and surpassing the consensus estimate of $89.2 billion, according to <a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0424">Benzinga Pro</a>.
Revenue from Google Search reached $50.7 billion, up from $46.2 billion a year ago, while total advertising revenue climbed to $66.9 billion from $61.7 billion in the previous year.
Google I/O has long served as the platform for debuting key software innovations, such as the latest Android releases and strides in AI. At last year's event, Google introduced Gemini Live along with several AI-powered capabilities.
This year, AI is likely to be the main focus once more. The Sundar Pichai-led company is anticipated to reveal fresh updates to its Gemini AI, introduce Android 16 and roll out enhancements across Google Search, Assistant and Workspace.
Price Action: Alphabet Inc.&#8217;s Class A shares declined 12.08% year-to-date, while Class C decreased by 11.94%.&nbsp;
According to Benzinga Edge Stock Rankings, Alphabet holds a growth score of 66.98%. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see how it measures up against other firms</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/2025/05/19214941/Screenshot-2025-05-20-at-7.19.37%E2%80%AFAM.png" alt="" class="wp-image-920506" /></a></figure>
Photo Courtesy: JHVEPhoto on Shutterstock.com
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</ul>
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.

GOOG

Google I/O 2025 A 'Big Deal,' Says Gene Munster: Sundar Pichai's Alphabet Has No Choice But To Disrupt Itself Before Someone Else Does

Sen. Elizabeth Warren (D-Mass.) opposed the GENIUS Act, popularly known as the stablecoin bill, on the Senate floor Monday, citing worries that it would enable President Donald Trump&#8217;s &#8220;crypto corruption.&#8221;
What Happened: Warren remarked that the Republican-led legislation would supercharge the stablecoin market and the reach and profitablity of the Trump family-backed USD1.
&#8220;For the first time in history, this bill will make our president the regulator of his own financial product,&#8221; Warren said. &#8220;If the Congress does nor fix it here, it will be aiding and abetting his corruption everytime USD1 is used to finance a corrupt deal.&#8221;
Warren also raised concerns that the bill would give terrorists and drug cartels easier access to money through stablecoins. While stablecoins such as Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>) have been used for illegal activities, a survey by blockchain analytics firm Chainalysis found that the <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36698244/over-99-of-cryptocurrency-on-chain-is-legal-bitcoin-use-in-criminal-activity-falls-again">vast majority of cryptocurrency transaction activity</a>, around 99.6%, is used for legal purposes.
The White House didn't immediately return&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga's</a>&nbsp;request for comment on Warren&#8217;s allegations.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I'm on the Senate floor right now urging my colleagues to vote no on the GENIUS Act. There is no excuse for Congress to pass a crypto bill that will turbocharge Trump's corruption. <a href="https://t.co/qb8wWQ6PUA">https://t.co/qb8wWQ6PUA</a>
&mdash; Elizabeth Warren (@SenWarren) <a href="https://twitter.com/SenWarren/status/1924569539032781076?ref_src=twsrc%5Etfw">May 19, 2025</a></blockquote>
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See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/05/45489390/crypto-traders-who-secured-a-dinner-with-donald-trump-walked-away-with-major-profits-says-" target="_blank" rel="noreferrer noopener">Crypto Traders Who Secured A Dinner With Donald Trump Walked Away With Major Profits, Says Analysis</a>
Taking a diametrically opposite view, Anthony Scaramucci, a known cryptocurrency advocate and former White House Communications Director, argued that&nbsp;the GENIUS Act would benefit the U.S., its citizens, the dollar, banks, fintech startups, and the cryptocurrency sector. He warned that Democrats opposing the bill would be committing &#8220;political suicide.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Passing GENIUS Act would be good for America, Americans, the dollar, banks of all sizes, fintech startups and rules-based crypto. If Democrats oppose this bill, which puts checks + balances on all actors, it is political suicide. Let&#39;s end technology gradualism in Washington.
&mdash; Anthony Scaramucci (@Scaramucci) <a href="https://twitter.com/Scaramucci/status/1924494877208760672?ref_src=twsrc%5Etfw">May 19, 2025</a></blockquote>
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Why It Matters: This isn&#8217;t the first time Warren has expressed skepticism towards cryptocurrency. Last week, she labeled USD1 as a <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45399468/elizabeth-warren-calls-out-trump-linked-stablecoin-as-a-national-security-risk-hes-cashing-in-on-foreign-crypto-deals">potential national security threat</a> and a conduit for Trump&#8217;s corruption.
USD1, which has risen to become the fifth-largest stablecoin by capitalization, has been chosen&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45160707/eric-trump-says-world-libertys-stablecoin-will-be-used-to-close-a-2-billion-deal-dollar-token-to-also-get-integrated-with-justin-suns-tron-blockchain" target="_blank" rel="noreferrer noopener">to close a $2 billion deal&nbsp;</a>between Abu Dhabi investment firm&nbsp;MGX&nbsp;and cryptocurrency exchange&nbsp;Binance, as announced by&nbsp;Eric Trump&nbsp;at a recent cryptocurrency conference. 
A Trump-affiliated organization holds a 60% share in the parent company of the firm behind the stablecoin, World Liberty Financial, while his son Eric Trump sits on the board.
Warren deemed deals like these as a way for big companies and foreign governments to evade scrutiny and pay off Trump personally.
Shutterstock/Sheila Fitzgerald
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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>

Elizabeth Warren Urges Congress To Vote Against Crypto Bill, Saying It Turbocharges Trump Corruption — Anthony Scaramucci Warns Democrats Against 'Political Suicide'

On Monday, Cathie Wood-led Ark Invest made significant trades involving Taiwan Semiconductor Manufacturing Co Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) and Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>).
The TSMC Trade saw Ark Invest making substantial purchases of the Taiwan-based chip giant&#8217;s shares. The Ark Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) and ARK Next Generation Internet ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#BATS">ARKW</a>) collectively acquired 197,776 shares. This move comes as TSMC collaborates with <a href="https://www.benzinga.com/25/05/45487650/nvidia-tsmc-and-apple-supplier-foxconn-partner-to-develop-taiwan-ai-supercomputer">Nvidia and Foxconn</a> to develop a powerful AI supercomputer in Taiwan. The partnership aims to enhance AI computing infrastructure in Asia, potentially boosting TSMC&#8217;s technological edge. 
However, TSMC&#8217;s Arizona factory has <a href="https://www.benzinga.com/markets/asia/25/04/44932342/taiwan-semiconductors-arizona-factory-faces-441-million-loss-amid-supply-chain-labor-cost-challenges">faced challenges</a>, incurring a $441 million loss due to supply chain and labor cost issues. On Monday, TSMC shares ended the day 0.4% lower at $193.50 in New York. Ark&#8217;s trade was valued at $3.83 million.
The Meta Platforms Trade involved Ark Invest reducing its holdings in the Mark Zuckerberg-led social media behemoth. The ARKK and ARKW ETFs sold a total of 101,251 shares. This decision coincides with Meta&#8217;s ongoing legal battles, including a plea to dismiss an <a href="https://www.benzinga.com/tech/25/05/45485147/meta-pleads-with-judge-to-dismiss-ftcs-antitrust-case-in-high-stakes-trial">FTC antitrust case</a>. The case could significantly impact Meta&#8217;s market dominance. Despite these challenges, Meta has ambitious plans to <a href="https://www.benzinga.com/markets/25/05/45160454/mark-zuckerbergs-meta-targets-1-4-trillion-revenue-from-generative-ai-by-2035-court-filing-reveals">generate up to $1.4 trillion in revenue</a> from generative AI products by 2035. Meta shares ended the day at $640.43. Ark&#8217;s Meta sale was estimated to be worth $6.5 million.
Other Key Trades:
<ul class="wp-block-list">
<li>ARKW sold 5,988 shares of Jack Dorsey-led Block Inc. (XYZ)</li>
<li>ARKW bought 106,061 shares of GitLab Inc. (GTLB).</li>
<li>ARKW sold 57,013 shares of CoreWeave Inc. (CRWV).</li>
<li>ARKW bought 90,233 shares of Nextdoor Holdings Inc (KIND).</li>
<li>ARKX bought 16,057 shares of Blade Air Mobility Inc. (BLDE).</li>
</ul>
Taiwan Semiconductor has a Momentum in the 82nd percentile and a Value in the 51st percentile, according to Benzinga Edge Stock Rankings. Does Nvidia rank better in terms of Value? <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Find out 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 loading="lazy" decoding="async" width="444" height="282" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/19214521/Screenshot-2025-05-20-at-10.44.48.png" alt="" class="wp-image-920505" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/19214521/Screenshot-2025-05-20-at-10.44.48.png 444w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/19214521/Screenshot-2025-05-20-at-10.44.48-300x191.png 300w" sizes="(max-width: 444px) 100vw, 444px" /></a></figure>
Photo Courtesy: ChrisStock82 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>

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