On Friday, President Donald Trump signed a sweeping tax and spending bill into law during a July 4 picnic at the White House, touting it as a historic win, even as the Congressional Budget Office projects it will <a href="https://www.benzinga.com/markets/25/06/45937660/trumps-one-big-beautiful-bill-is-the-largest-redistribution-from-poor-to-rich-in-american-history-sa">significantly widen</a> the federal deficit and leave millions uninsured.



What Happened: Flanked by Republican lawmakers and Cabinet members, Trump signed the multitrillion-dollar package on the White House driveway, using a ceremonial gavel gifted by House Speaker Mike Johnson (R-La.), <a href="https://apnews.com/article/trump-sign-tax-cut-bill-july-4-3804df732e461a626fd8c2b43413c3f0">reported</a> the Associated Press.



"America's winning, winning, winning like never before," Trump declared, celebrating the bill's passage alongside a flyover of fighter jets and bombers. "Promises made, promises kept and we've kept them."



The legislation extends Trump's 2017 tax cuts, eliminates taxes on tips and Social Security income, boosts immigration enforcement and imposes $1.2 trillion in <a href="https://www.benzinga.com/markets/macro-economic-events/25/06/46163659/senate-republicans-propose-313-billion-cut-in-medicaid-spending-in-trumps-big-beautiful-bill">cuts to Medicaid</a> and food assistance.



See Also: <a href="https://benzinga.com/news/politics/25/06/46160509/irans-top-diplomat-to-un-says-uranium-enrichment-to-continue-an-inalienable-right" target="_blank" rel="noreferrer noopener">Iran's Top Diplomat To UN Says Uranium Enrichment To Continue: An ‘Inalienable Right'</a>



Despite strong Republican support, Democrats unanimously opposed the bill.&nbsp;



AFL-CIO president Liz Shuler called it "the worst job-killing bill in American history," accusing Trump of handing a $5 trillion gift to the wealthy while stripping support from working families.



Why It's Important: According to the <a href="https://www.benzinga.com/markets/equities/25/05/45536595/big-beautiful-bill-will-explode-the-deficit-and-make-the-rich-richer-congressional-budget-office-estimates-4-income-fall-for-lowest-decile-of-americans-by-2033">Congressional Budget Office</a>, the bill is projected to add $3.3 trillion to the national deficit over the next decade and cause 11.8 million Americans to lose health coverage, largely due to Medicaid cuts.&nbsp;



Critics also warn it could erode gains made under Presidents Barack Obama and Joe Biden. Trump, however, defended the bill as pro-growth: "Our country is going to be a rocket ship, economically."



With no Democratic support and tight Senate margins, the package's passage marks a key ideological pivot — and a flashpoint for the 2026 midterms, the report said.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://benzinga.com/markets/equities/25/06/46109576/buffett-premium-fading-away-the-oracle-of-omahas-retirement-casts-shadow-on-berkshire-hathaways-stock-value-report" target="_blank" rel="noreferrer noopener">‘Buffett Premium' Fading Away? The Oracle Of Omaha's Retirement Casts Shadow On Its Stock Value: Report – Benzinga</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Photo courtesy: Shutterstock

Politics

Trump Signs Sweeping Tax And Spending Bill That CBO Says Will Add $3.3 Trillion To US Deficit, Cut Health Coverage For 11.8 Million Americans

President Donald Trump has announced that his administration will begin informing trading partners about new tariffs on their exports starting this Friday.



What Happened: These tariffs are scheduled to take effect on August 1. Trump mentioned that approximately &#8220;10 or 12&#8221; letters will be sent out initially, with more to follow in the coming days, according <a href="https://www.bloomberg.com/news/articles/2025-07-03/trump-says-he-may-start-telling-nations-new-tariff-rates-friday">to</a> a Bloomberg report on Friday.



The president stated that by July 9, all countries would be notified of their new tariff levels, which could range from 10% to 70%. This move is part of Trump&#8217;s strategy to favor straightforward agreements over complex negotiations. Negotiations with countries such as Indonesia, South Korea, the European Union, and Switzerland are reaching critical stages.



Trump&#8217;s latest tariff threat is consistent with his previous ultimatums, suggesting that some countries may not have a say in their tariff levels. The highest proposed tariffs could exceed those initially outlined during his &#8220;Liberation Day&#8221; announcement in April, which ranged from 10% to 50%.



Trump emphasized that countries would start paying these tariffs on August 1, with revenue beginning to flow into the US. The impact of these tariffs on inflation has led some Federal Reserve officials to be cautious about cutting interest rates, despite pressure from Trump.



See Also: <a href="https://benzinga.com/markets/equities/25/07/46259886/elon-musks-tesla-is-a-multi-trillion-dollar-opportunity-but-short-term-outlook-is-shaky-says-exp">Elon Musk&#8217;s Tesla Is A &#8216;Multi-Trillion-Dollar Opportunity,&#8217; But Short-Term Outlook Is &#8216;Shaky,&#8217; Says Expert</a>



While deals have been reached with the UK and Vietnam, other major trading partners like Japan and South Korea are still negotiating. Trump remains optimistic about reaching an agreement with India but has criticized Japan as a challenging partner.



Why It Matters: The announcement comes amid escalating trade tensions, notably with Japan. Trump recently threatened to impose tariffs of &#8220;30% or 35%&#8221; on<a href="https://www.benzinga.com/news/politics/25/07/46213186/trump-threatens-35-tariffs-on-japan-as-trade-deadline-looms-not-sure-were-going-to-make-a-deal"> Japanese exports if no agreement</a> is reached by the July 9 deadline, a significant increase from the current 10% rate reported earlier this week.



A trade deal with<a href="https://www.benzinga.com/news/politics/25/07/46241070/trumps-vietnam-trade-deal-with-40-tax-on-transshipments-may-result-in-chinese-backlash-say-economists-they-want-inflation"> Vietnam has been secured</a>, imposing a 20% tariff on Vietnamese exports and a 40% tariff on goods transshipped through Vietnam, particularly targeting Chinese products. This deal grants the US tariff-free access to Vietnam&#8217;s domestic markets.



Furthermore, the Trump administration has reportedly scaled back its<a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46188192/trump-administration-reportedly-scales-back-ambitions-for-comprehensive-trade-deals-before-tariff-deadline"> ambitions for comprehensive trade deals</a>, opting for narrower agreements to avoid reimposing tariffs. This shift aims to reach agreements by the July 9 deadline, marking a departure from the initial plan to secure 90 trade deals during a 90-day pause in reciprocal tariffs.



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<li><a href="https://www.benzinga.com/personal-finance/management/25/07/46263007/elon-musk-backs-warren-buffetts-brutal-5-minute-deficit-fix-to-ban-congress-from-reelection-if-they-blow-the-budget-100-this-is-the-way">Elon Musk Backs Warren Buffett&#8217;s Brutal &#8216;5-Minute Deficit Fix&#8217; To Ban Congress From Reelection If They Blow the Budget: &#8216;100% This Is the Way&#8217;</a></li>
</ul>



Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.



Photo courtesy: Rawpixel.com / Shutterstock.com

Trump Says US Will Raise Tariffs To Up To 70% As July 9 Deadline Looms

Wall Street powered through the shortened holiday week, with both the S&amp;P 500 and the Nasdaq 100 climbing to fresh record highs, as upbeat economic data and major policy shifts <a href="https://www.benzinga.com/markets">helped fuel investor confidence.</a>



Optimism got an extra boost after President Donald Trump announced a surprise trade deal with Vietnam. The agreement includes a 20% tariff on all Vietnamese imports and a 40% tariff on transshipped goods. In return, U.S. companies will get full access to Vietnam's domestic market, a key win for American exporters. 



Markets responded positively, with investors viewing it as a signal that Trump is favoring targeted trade enforcement over sweeping tariffs.



Read also: <a href="https://www.benzinga.com/news/politics/25/07/46241070/trumps-vietnam-trade-deal-with-40-tax-on-transshipments-may-result-in-chinese-backlash-say-economists-they-want-inflation">Trump&#8217;s Vietnam Trade Deal With 40% Tax On Transshipments May Result In Chinese Backlash, Say Economists: &#8216;&#8230;They Want Inflation&#8217;</a>



<h3 class="wp-block-heading">Congress Passes Trump&#8217;s OBBBA, Economic Data Outperform</h3>



The U.S. Senate passed the bill on July 1, 2025, in a narrow 51–50 vote, with Vice President J.D. Vance casting the tie-breaking vote.



The House of Representatives followed on July 3, approving the final version of the bill in a 218–214 vote.



The White House announced that President Donald Trump will sign the bill into law on July 4, 2025, at 4 p.m. ET—a symbolic moment timed with Independence Day.



Labor market data surpassed expectations: Nonfarm payrolls rose by 147,000 in June, exceeding the projection of 110,000. The unemployment rate dropped to 4.1%, defying forecasts for a rise to 4.3% and hitting its lowest level since January. A big surprise came from government hiring, which added 73,000 jobs — the largest<a href="https://www.benzinga.com/markets/economic-data/25/07/46244105/june-jobs-report-nonfarm-payroll-adp-data"> jump since March 2023.</a>



On the industrial side, new orders for U.S. manufactured goods jumped 8.2% in May to $642 billion. This was the largest monthly surge since 2014 and the third-largest on record, as firms moved quickly to capitalize on the temporary suspension of "Liberation Day" tariffs.



This economic resilience complicates the Federal Reserve's outlook for near-term rate cuts. Chair Jerome Powell said the door remains open for a potential rate cut at the July 30 meeting, though he emphasized the importance of incoming data. Yet, after the robust jobs report, market-based odds for a cut fell sharply to just 7%.



Read also:<a href="https://www.benzinga.com/news/politics/25/07/46258864/ray-dalio-warns-us-debt-per-family-will-rise-85-to-425000-over-next-10-years-as-house-passes-trumps-big-beautiful-bill"> Ray Dalio Warns US Debt Per Family Will Rise 85% To $425,000 Over Next 10 Years As House Passes Trump&#8217;s &#8216;Big Beautiful Bill&#8217;</a>



In tech news, Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) announced a new round of layoffs affecting 9,000 employees — about 4% of its global workforce.



Michigan-based automakers were among the week's top gainers. Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) jumped 10% this week after reporting a 14% year-over-year increase in second-quarter U.S. vehicle sales, reaching 612,095 units. The surge was led by strong demand for its Maverick and F-Series pickup trucks.



General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) also topped the week&#8217;s best-performer ranking after posting a 7% rise in quarterly sales to 746,588 vehicles. 



Now read: 



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<li><a href="https://www.benzinga.com/markets/tech/25/07/46262055/greed-mode-on-why-tesla-nvidia-palantir-and-bitcoin-plays-could-rip">Greed Mode On: Why Tesla, Nvidia, Palantir And Bitcoin Plays Could Rip </a></li>
</ul>

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Macro Economic Events

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MSFT

Wall Street Ends Holiday Week At Record Highs As Jobs, Trade Deal Lift Sentiment: This Week In Markets

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



<ul class="wp-block-list">
<li>Abry Partners hired JPMorgan Chase <a href="https://www.benzinga.com/topic/auction">to find a buyer</a> for physician social network Sermo, Axios <a href="https://www.axios.com/pro/health-tech-deals/2025/07/02/abry-sermo-sale-physician-social-network">reports</a>. Bids are expected to be between $600 million and $800 million. Boston-based Abry first <a href="https://abry.com/news-article/sermo-announces-significant-investment-from-abry-partners/">invested</a> in Sermo in 2019.</li>
</ul>



<ul class="wp-block-list">
<li>Verint Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRNT#NASDAQ">VRNT</a>), a provider of call center software, is working with an adviser on a potential sale. Thoma Bravo is interested, <a href="https://www.bloomberg.com/news/articles/2025-07-01/thoma-bravo-is-said-to-be-in-talks-to-acquire-verint-systems?srnd=phx-deals&amp;sref=TBDibEcD">per</a> Bloomberg. Despite a 28% stock drop this year, Verint recently <a href="https://www.benzinga.com/markets/earnings/25/06/45781756/verint-stock-jumps-after-q1-beat-confident-fy26-guidance">beat revenue estimates</a>. The company spun off its analytics arm, Cognyte, in 2021.</li>
</ul>



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



<ul class="wp-block-list">
<li>Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARAA#NASDAQ">PARAA</a>) <a href="https://www.benzinga.com/news/legal/25/07/46212970/trump-wins-16-million-settlement-from-paramount-over-cbs-60-minutes-kamala-harris-interview-but-no-apology-issued">agreed to pay $16 million</a> to President Donald Trump's future library as a way to settle a lawsuit over a "60 Minutes" interview with Kamala Harris. Trump had sued for $20 billion, claiming CBS deceptively edited the segment. CBS denies wrongdoing. The settlement may help clear regulatory hurdles for Paramount's <a href="https://www.benzinga.com/general/entertainment/24/07/39658163/paramount-board-endorses-merger-with-skydance-media-as-david-ellison-nears-acquisition-of-m">pending $28 billion merger</a> with Skydance Media. Private equity firms RedBird Capital and KKR back the deal. The FCC launched a probe into CBS's New York station after Trump took office, and &#8220;60 Minutes&#8221; producer Bill Owens <a href="https://www.npr.org/2025/04/23/nx-s1-5372796/60-minutes-executive-producer-resigns-saying-shows-indepependence-was-compromised">resigned</a> in April, citing editorial interference. Former CBS News anchor Dan Rather called it &#8220;a sad day for journalism&#8221; and &#8220;a sad day for '60 Minutes' and CBS News.&#8221; In an interview with <a href="https://variety.com/2025/tv/news/dan-rather-paramount-trump-suit-settlement-sell-out-1236446675/?utm_campaign=feed&amp;utm_medium=referral&amp;utm_source=later-linkinbio">Variety</a>, the renowned journalist put it plainly: &#8220;It was distortion by the president and a kneeling down and saying, ‘yes, sir,' by billionaire corporate owners."</li>
</ul>



<ul class="wp-block-list">
<li>Euronext is in <a href="https://www.bloomberg.com/news/articles/2025-07-01/euronext-says-it-s-in-talks-to-buy-athens-stock-exchange?srnd=phx-deals&amp;sref=TBDibEcD">talks</a> to acquire the Athens Stock Exchange operator (ATHEX). The proposed share exchange deal would value ATHEX at 6.90 euros per share, or 399 million euros fully diluted. Euronext says the move reflects its confidence in Greece's economic potential. Talks are still in early stages. If successful, it would mark Euronext's latest expansion, adding to its portfolio of exchanges across seven European countries.</li>
</ul>



<ul class="wp-block-list">
<li>Spectris has <a href="https://www.wsj.com/business/deals/spectris-agrees-to-5-64-billion-kkr-takeover-withdraws-advent-recommendation-3dc7c625?mod=deals_news_article_pos1">agreed</a> to a 4.1 billion pounds ($5.64 billion) buyout by private equity firm KKR, scrapping a prior deal with Advent International. The new offer gives shareholders 39.72 pounds per share and beats Advent's 37.63-pounds-per-share offer. Separately, KKR is also acquiring Australian poultry producer ProTen from Aware Super for A$1.3 billion.</li>
</ul>



<ul class="wp-block-list">
<li>Athora, a savings and retirement services group backed by Apollo Global Management, is &#8220;days away&#8221; from <a href="https://news.sky.com/story/apollo-backed-athora-closes-in-on-6bn-pension-insurance-corporation-deal-13391631">inking</a> a near-6 billion pound purchase of Pension Insurance Corporation (PIC), according to Sky News.</li>
</ul>



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



<ul class="wp-block-list">
<li>Hewlett-Packard Enterprise Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) completed its $14 billion purchase of Juniper Networks (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>), following a U.S. antitrust <a href="https://storage.courtlistener.com/recap/gov.uscourts.cand.443490/gov.uscourts.cand.443490.217.2.pdf">settlement</a>.</li>
</ul>



<ul class="wp-block-list">
<li>Open Cosmos has <a href="https://x.com/Open_Cosmos/status/1940697021234688033">acquired</a> Connected, a Portugal-based space-tech company specializing in IoT connectivity from space. The deal strengthens Open Cosmos's capabilities in narrowband IoT and expands its footprint in Portugal, which it says is a growing hub for space innovation. The acquisition is described as one of the fastest successful exits in European space-tech and aligns with the EU's long-term vision for sovereign and scalable space infrastructure.</li>
</ul>



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



<ul class="wp-block-list">
<li>Canned-food giant Del Monte Foods has <a href="https://www.prnewswire.com/news-releases/del-monte-foods-announces-strategic-action-to-strengthen-financial-position-and-pursue-a-value-maximizing-sale-302496385.html">filed</a> for Chapter 11 bankruptcy, launching a court-supervised sale process in a bid to accelerate its turnaround. The company, known for canned fruits, College Inn broths and Joyba teas, said it secured $912.5 million in financing from existing lenders to continue operations during the proceedings. CEO Greg Longstreet called the move a "strategic step forward" aimed at building a stronger, long-term business. Del Monte, founded nearly 140 years ago, will remain open during the bankruptcy process.</li>
</ul>



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



M&amp;A volumes globally continue to decline, according <a href="https://www.pwc.com/gx/en/services/deals/trends.html">to</a> PwC&#8217;s Brian Levy.



&#8220;They dropped by 9% in the first half of 2025 compared with the first half of 2024, while deal values are up 15%. We continue to see transactions in companies with a local focus within national borders, as well as in service companies or others less susceptible to tariffs,&#8221; Levy wrote in a June 24 blog post. 



Strong cash flow and &#8220;healthy prospects&#8221; are key. A May 2025 PwC survey found that 30% of U.S. companies paused or reconsidered deals due to tariff uncertainty, signaling ongoing disruption for dealmakers in the months ahead.



&#8220;We expect dealmakers to feel the continued fallout over the coming months,&#8221; Levy adds.



Separately, the mixed job market — like the one we&#8217;re currently in — provides a clue as to how the second half of 2025 will unfold. <a href="https://www.benzinga.com/markets/economic-data/25/07/46188699/goldman-sachs-now-expects-3-fed-rate-cuts-in-2025-amid-weak-jobs-data-modest-trump-tariff-effects">If rate cuts follow</a>, expect a rebound in M&amp;A activity.



Buyers typically see value in sectors under labor pressure, and sellers feel more urgency <a href="https://www.benzinga.com/markets/economic-data/25/07/46244105/june-jobs-report-nonfarm-payroll-adp-data">if hiring slows</a> or margins compress.



Bain &amp; Co. says it&#8217;s &#8220;already seeing evidence that some companies are not allowing tariffs (and the changed economic world order they represent) to derail M&amp;A activity.&#8221; 



While deal activity dipped in April, deal value rebounded in May, the firm <a href="https://www.bain.com/insights/m-and-a-midyear-report-2025-separating-signal-from-noise/">wrote</a> in its mid-year report. This may partly reflect late-stage deals, as well as the fortitude of executives and the muted impact of U.S. tariff announcements. 



<a href="https://www.benzinga.com/m-a/25/06/46138385/deal-dispatch-darden-bahama-breeze-nba-ma-heats-up">For last week&#8217;s edition of the Deal Dispatch, click here</a>. 



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<li><a href="https://www.benzinga.com/markets/hedge-funds/25/07/46243248/michael-burry-estee-lauder-snub-china">Beauty And The Bear: Michael Burry, Estee Lauder Snub China</a></li>
</ul>



Image: Edited by Benzinga using Shutterstock

News

SPACE

Asset Sales

Global

JNPR

PARA

PARAA

VRNT

Deal Dispatch: Trump Settlement Clears Way For Paramount Merger, Euronext Eyes Greece, KKR Strikes Twice

Ripple's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) bid for a U.S. national banking license has been described by industry experts as a potential turning point for the company and the broader stablecoin ecosystem, as it positions Ripple to issue and move stablecoins under federal oversight without <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46230381/xrp-spikes-3-as-ripple-applies-for-us-banking-license">reliance on traditional banks</a>.



In a statement sent to Benzinga, Chris Perkins, President of crypto-focused venture firm CoinFund, said Ripple's aggressive licensing strategy is building a formidable foundation for (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">RLUSD</a>), its stablecoin. 



&#8220;They're assembling a scalable and compliant infrastructure,&#8221; Perkins noted. 



&#8220;With the bank license, Ripple is setting itself up to issue RLUSD in line with GENIUS Act requirements. Their recent moves, including the acquisition of Hidden Road and investment in Bitnomial, strengthen their ability to serve institutional clients efficiently. For the XRP community, RLUSD is shaping up to be the preferred stablecoin.&#8221;



Arthur Azizov, founder of B2 Ventures, told Benzinga that Ripple is no longer just collaborating with banks, it's positioning to operate as one. 



&#8220;Ripple's timing is strategic, aligning its application with the Senate's progress on the GENIUS Act, which will define stablecoin regulation. By bringing RLUSD, the XRP ledger, and its liquidity services under one banking entity, Ripple could effectively cut out traditional intermediaries like SWIFT and correspondent banks,&#8221; Azizov explained. 



&#8220;This isn't an isolated move. We're seeing fintechs like Stripe and SoFi move into regulated banking territory. Ripple is now part of this shift, aiming to connect directly to core payment rails like Fedwire.&#8221;



Ryan Lee, Chief Analyst at Bitget Research, highlighted the regulatory and market implications of Ripple's latest step. 



&#8220;Applying for a banking license shows Ripple's intent to deepen its regulatory compliance and expand its institutional credibility. On the same day, Grayscale's multi-asset ETF, which includes XRP, received SEC approval. This signals growing acceptance of XRP in traditional finance circles,&#8221; Lee said. 



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46260124/social-media-without-middlemen-wallstreetbets-founder-backs-creator-controlled-platform?utm_campaign=Watchlist&amp;utm_source=Benzinga&amp;utm_medium=Email">Social Media Without Middlemen? WallStreetBets Founder Backs Creator-Controlled Platform</a>



&#8220;A federally regulated stablecoin could reinforce XRP's role in global payments. However, regulatory hurdles remain, and how quickly approvals come will be crucial for Ripple's momentum,&#8221; he added.



Lee added that XRP's inclusion in regulated investment products could improve liquidity and attract more institutional investors. 



However, he cautioned that ongoing legal uncertainties may affect XRP's near-term adoption pace.



Ripple's application comes shortly after stablecoin issuer Circle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRCL#NYSE">CRCL</a>) made a similar move, as crypto firms increasingly seek regulatory clarity to strengthen ties with the traditional financial system. 



Ripple CEO Brad Garlinghouse confirmed the application on social platform X, stating that the license, if granted, would place Ripple under both federal and New York state oversight, setting what he called &#8220;a new benchmark for trust in the stablecoin market.&#8221;



The banking license would give Ripple a unique position: issuing RLUSD directly, with full regulatory backing, while continuing to use the XRP ledger as the transaction layer and XRP itself as a liquidity tool. 



This move could further streamline Ripple's cross-border payment services, which are already moving significant volumes through on-demand liquidity corridors.



As crypto and fintech companies increasingly compete for territory historically dominated by legacy banks, Ripple's next steps may test how regulators approach the evolving intersection of crypto and traditional finance.



Read Next: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46259970/why-nano-labs-wants-to-control-a-big-chunk-of-binance-coins-circulating-supply?utm_campaign=Watchlist&amp;utm_source=Benzinga&amp;utm_medium=Email">Why Nano Labs Wants To Control A Big Chunk Of Binance Coin&#8217;s Circulating Supply</a>



Image: Shutterstock/Stanslavs

Cryptocurrency

$RLUSD

$XRP

CRCL

Ripple's National Bank Ambition: How Could It Disrupt Stablecoins And Traditional Banking?

Financial guru&nbsp;Robert Kiyosaki&nbsp;said Wednesday that George Washington would have been a Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) advocate, citing the U.S.&#8217;s founding father&#8217;s views on &#8220;paper money.&#8221;



What Happened: Kiyosaki, author of the best-selling book &#8220;Rich Dad Poor Dad,&#8221; remembered the words of the first U.S. president.



"We may one day become a great commercial and flourishing nation. But if, in the pursuit of the means, we should unfortunately stumble again on unfunded paper money or any similar species of fraud, we shall assuredly give a fatal stab to our national credit in its infancy. &#8220;



&#8220;Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice."



Citing these views, Kiyosaki said, &#8220;America's 1st President George Washington would have been into Bitcoin.&#8221; 



Bitcoin supporters have consistently <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46238410/bitcoin-gets-bigger-the-more-money-central-banks-print-says-popular-crypto-analyst-its-a-beautiful-thing">backed the idea</a> that high money printing could lead to inflation, devaluing the dollar, and sending Bitcoin, which they deem as an inflation hedge, soaring.



<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">America's 1st President George Washington would have been into Bitcoin. This is what he said about Fiat ( Fake) Money: "We may one day become a great commercial and flourishing nation. But if, in the pursuit of the means, we should unfortunately stumble again on unfunded paper…&mdash; Robert Kiyosaki (@theRealKiyosaki) <a href="https://twitter.com/theRealKiyosaki/status/1940540446167511353?ref_src=twsrc%5Etfw">July 2, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The second quote appears in a <a href="https://founders.archives.gov/GEWN-04-04-02-0428">letter </a>Washington wrote to Jabez Bowen, the then-deputy governor of Rhode Island, according to the U.S. National Archives.



While the source of the first quote was not immediately clear, Washington expressed alarm about the &#8220;emission of paper currency&#8221; in a <a href="https://founders.archives.gov/documents/Washington/04-04-02-0174">letter </a>to Thomas Jefferson, the third president of the U.S., in 1786.



See Also:&nbsp;<a href="https://benzinga.com/crypto/cryptocurrency/25/07/46231186/bitcoin-ethereum-xrp-dogecoin-surge-as-big-beautiful-bill-house-vote-nears" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, XRP, Dogecoin Surge As &#8216;Big Beautiful Bill&#8217; House Vote Nears</a>



Why It Matters: Kiyosaki&#8217;s views on Bitcoin and other forms of hard money have been consistent. He has repeatedly warned of a <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46045741/rich-dad-poor-dad-author-robert-kiyosaki-warns-of-global-debt-collapse-urges-buying-gold-silver-bitcoin">potential global monetary collapse</a> and advised his followers to invest in gold, silver, and Bitcoin. 



He has been vocal about his skepticism towards traditional cash savings and that current market conditions are ripe for investments in <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44550875/robert-kiyosaki-thinks-saving-in-cash-is-a-bad-idea-heres-why">secure and cost-effective assets</a>.



Kiyosaki has been vocal about his skepticism towards traditional cash savings, having shifted his focus to Bitcoin, gold and silver, He has predicted that silver prices could potentially reach $200 within the next two years.



However, several of his previous predictions have proven to be extremely inaccurate. He predicted Bitcoin would reach $100,000 in June 2024. Needless to say, the forecast was well off target. He even set an unrealistic price target of <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39198509/rich-dad-poor-dad-author-robert-kiyosaki-comes-up-with-another-bold-projection-bitcoin-wil">$350,000</a> for August 2024.



Price Action:&nbsp; At the time of writing, BTC was exchanging hands at $108,816.37, up 2.45% in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. Year-to-date, the coin has surged 17%.



Photo Courtesy: William Potter on Shutterstock.com



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://benzinga.com/crypto/cryptocurrency/25/07/46227149/every-new-trillion-of-debt-in-trumps-big-beautiful-bill-is-free-adertising-for-bitcoin-expe" target="_blank" rel="noreferrer noopener">Every New Trillion Of Debt In Trump&#8217;s &#8216;Big Beautiful Bill&#8217; Is &#8216;Free Adertising For Bitcoin,&#8217; Expert States</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>

Markets

$BTC

'Rich Dad Poor Dad' Robert Kiyosaki Says George Washington Would Have Been Into Bitcoin: Paper Money Opens Door To 'Every Species Of Fraud And Injustice'

A long-time Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) enthusiast using the alias JohnGalt in May <a href="https://bitcointalk.org/index.php?topic=5543336.0">shared</a> an incredible story on the Bitcoin Forum: they finally redeemed their 100 &#8216;physical Bitcoin&#8217; bar — which had remained untouched since 2012 — for a profit of over $10 million.



What Happened: Originally bought for just $500, the physical BTC bar, one of the rare 100 BTC versions with a private key engraved on the bar, grew in value exponentially over the years. 



As Bitcoin rallied past key milestones like $10,000 and later $100,000, JohnGalt admitted to feeling increasing anxiety, noting the immense pressure of holding such a valuable physical asset.



Despite fielding offers and considering auctions, concerns over trust, low bids, and symbolic value kept them from selling, until now. 



With BTC trading near its all-time highs in 2025, the estimated value of the bar had surpassed $10 million, prompting the long-awaited redemption.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46242838/anthony-scaramucci-predicts-bitcoin-treasury-frenzy-will-fade">Anthony Scaramucci Predicts Bitcoin Treasury Frenzy &#8216;Will Fade&#8217;</a>



Why It Matters: JohnGalt's story struck a chord across the crypto community. 



While he expressed some regret about holding so long, most users celebrated his unwavering conviction and restraint through a dozen volatile years.



 Many likened the 100 BTC bar to a "Golden Wonka Ticket" — a rare treasure finally unlocked.



The redemption wasn't without technical challenges. JohnGalt described how he used bitaddress.org offline to convert the mini private key into WIF format, scanned the QR code, and accessed the BTC. 



To ensure secure custody, he split the funds across multiple addresses via Trezor Suite and finalized the transfer using Electrum, verifying all details before sending.



The redemption also comes at a time when dormant BTC wallets have been springing back to life, as early adopters take profits amid Bitcoin's historic 2025 rally.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46242242/bitcoin-ethereum-xrp-dogecoin-surge-ahead-of-independence-day">Bitcoin, Ethereum, XRP, Dogecoin Surge Ahead Of Independence Day</a></li>
</ul>



Image: Shutterstock

This Bitcoin Collector Turned $500 Into Over $10 Million By Selling 100 'Physical' Bitcoin

At just 28 years old, financial advisor Luke Lloyd learned some of life's toughest lessons—many of them forged in the blue-collar heart of Martins Ferry, Ohio. Growing up in a town where generations worked &#8220;their tails off&#8221; in coal mines and steel mills, Lloyd saw firsthand the grit and dedication it takes to build a life <a href="https://www.benzinga.com/money/the-importance-of-finding-a-financial-advisor-thats-right-for-you">from the ground up</a>.



But it was his father's battle with cancer—and the cold way his employer treated him after 25 loyal years—that ignited something deeper.



"I might be a little crazy," he admits, "but I didn't feel a sense of purpose building someone else's dream." Watching his father be "discarded like a line item" while fighting for his life, Lloyd realized early on that you have a choice: "You either work for the man, or you are the man." 



That lesson from his dad stuck and, this year, Lloyd launched his own firm — Lloyd Financial Group. In a conversation with Benzinga, he offers his perspective on today&#8217;s market trends, the emerging role of artificial intelligence in finance, the need for universal basic income, and what the second half of 2025 will bring.



See Also: <a href="https://www.benzinga.com/trading-ideas/movers/25/06/45805623/palantir-ceo-warns-us-china-ai-race-will-have-one-winner-urges-west-to-keep-up">Palantir CEO Warns US-China AI Race Will Have One Winner, Urges West To Keep Up</a>



<h3 class="wp-block-heading">Benzinga: With so much <a href="https://www.benzinga.com/money/mastering-market-swings-tools-to-trade-volatility-like-a-pro">market volatility</a>, how do you gauge what stock to target?</h3>



The easy answer is: Know your specialty. You need to know your craft and what you excel at. Is it trading stock futures? Is it trading options? Is it trading stocks? Is it trading the bond market? If you&#8217;re a trader, rather than a long-term investor, many people will spread themselves too thin. They focus on too many areas — even with the help of AI.



So, if you are a trader — day trader or swing trader — you want to make sure that you know exactly where your best kind of chance of success is. Once you&#8217;ve identified the best thing you&#8217;re good at, it&#8217;s essential to start incorporating the technical indicators, like <a href="https://www.benzinga.com/money/fibonacci-retracement">Fibonacci</a>. 



Suppose you&#8217;re not using technical indicators as a trader. In that case, you&#8217;re behind the curve and losing out on potential opportunities to know where to buy and sell. I do expect that volatility is not going to go away. There will be a lot of back-and-forth news, especially about tariffs and China. However, it&#8217;s essential to have a stop loss in place for any position and stick to it.



<h3 class="wp-block-heading">BZ: What&#8217;s the hardest skill to have as a trader?</h3>



The most challenging skill for a trader to possess is the mental fortitude to adhere to their strategy. Once you stray away from the strategy, you&#8217;re already at a disadvantage. So, having a sell target on the upside and a buy target on the downside is probably the most straightforward yet most important advice I can give to any trader out there, as someone who used to day trade in college. I&#8217;m more of a long-term investor today, but I&#8217;ve been around the game long enough.



<h3 class="wp-block-heading">BZ: <a href="https://www.benzinga.com/markets/forex/25/04/44730411/asia-and-europe-markets-rally-after-trumps-tariff-u-turn-gold-nears-record-high-global-markets-today-while-us-slept">From April 9-10</a>, President Trump walked back some of his tariff rhetoric, triggering a historic market rally. The S&amp;P soared 9.5% in one day. There were <a href="https://www.benzinga.com/news/25/04/44891038/clearly-word-got-out-scott-galloway-says-april-9-will-go-down-as-the-greatest-day-of-insider-trading-in-history">signs of manipulation</a>. Should retail traders or long-term investors be happy about that?</h3>



As a long-term investor, I have to not only analyze what I think will happen, but also position my clients accordingly. So it doesn&#8217;t matter if it makes me happy or sad. It doesn&#8217;t matter whether I like it or not. It&#8217;s the world I was born into, and I have to play along with it because I won&#8217;t change the system. The government&#8217;s too big. The Libertarian in me says that we&#8217;ll never go back to a proper free market, capitalistic system. So, yes, it does upset me, but it doesn&#8217;t matter because I don&#8217;t live in that system and never will. My clients rely on me to listen, not necessarily to share my opinion. As a trader, confirmation bias — or what you want to happen — is one of the biggest mistakes you can make: positioning your portfolio around what you want to happen, not what will happen.



<h3 class="wp-block-heading">BZ: Anthony Scaramucci recently <a href="https://www.youtube.com/watch?v=1dPT3vIZUCw">said</a> he uses Grok AI for his business. What are your thoughts on AI being used in finance?</h3>



I use it every single day, and it probably saves me, personally, 40 hours a week, between marketing, branding, and emails.



<h3 class="wp-block-heading">BZ: What about financial analysis, like stock picks and research?</h3>



Instead of going on Google and having to read 10 articles, I can type in a prompt to get the macro analysis news of the day, and it gives me the most important news. Of course, I fact-check it. But I used to have to wake up two to three hours before work, read the news of the day, and spend a couple of hours digesting stuff. Now it probably takes me 30 minutes to digest everything, because I can get it so quickly. So, yes, I use it every single day for stock analysis. However, the key is that, and this is where people often get themselves into trouble if they rely solely on AI.



<h3 class="wp-block-heading">BZ: Will AI take finance jobs?</h3>



I don&#8217;t think AI will ever be able to do all the jobs, or all of the analysis. I call it &#8220;inefficiently efficient.&#8221; We&#8217;re going to reach a point where AI and algorithms will account for close to 100% of the volume on the New York Stock Exchange. At that point, you&#8217;ll have essentially things priced to perfection. The only way the stock market works is if there are inefficiencies; if something is not priced appropriately, because supply and demand will eventually give it a fair price. So that&#8217;s discrepancy, and that inefficiency is what makes a market. 



If you have AI, or all the same kind of most efficient algorithms pricing stocks and digesting the same information — giving out PE ratios, price-to-sales ratios, and growth ratios — you have almost a too efficient market where there will be no traders left. So, yes, my answer is that it will take the trader&#8217;s job. If you&#8217;re a day trader, it&#8217;s going to be a lot harder to make money, because AI is going to be so efficient that it&#8217;s going to make the markets inefficiently efficient. And UBI will come into the equation.



<h3 class="wp-block-heading">BZ: How does UBI (universal basic income) factor in?</h3>



Once AI starts taking jobs on a bigger scale, especially in the white collar world, you&#8217;re going to see a lot of people get angry, because no one likes losing their job on a massive scale. You&#8217;ll see systematic unemployment rise, and the solution to that will be a universal basic income. There&#8217;s no doubt in my mind that this is likely to happen over the next couple of decades due to the rise of AI, which will replace jobs and systematically increase the unemployment rate. 



<h3 class="wp-block-heading">BZ: We can&#8217;t even get both parties to agree on basic stuff. They&#8217;re going to agree on UBI?</h3>



They have to. If you have fewer workers or fewer people working, because AI is so productive, it will also funnel money to the top. If you have a more productive corporation with fewer workers, margins increase, which in turn creates a higher stock price. Essentially, the only way it doesn&#8217;t create a higher stock price is if there are workers who can&#8217;t afford the product themselves because they are unemployed. So, that&#8217;s where the social safety net comes in to protect those people, because they do need an income, and that money will get funneled to the corporations.



<h3 class="wp-block-heading">BZ: What are your short-term predictions for the third and fourth quarters of 2025?</h3>



I think the third and fourth quarters are going to be very similar to what we saw in the first month or two of this year and right after the Trump election, in some ways, where you saw a lot of the equal-weight S&amp;P 500 do better than the cap weight. I think the days of big tech are little bit behind us. In some ways, they have too much beta on the market — too much money in them. I think you&#8217;ll see money rotation into more international areas that we discussed, as well as some of the smaller mid-cap names, particularly on the value side. And you&#8217;ll see the equal-weight probably do better then the cap-weighted indices. 



Now Read:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/personal-finance/25/02/43994419/i-dont-think-were-going-to-have-a-choice-elon-musk-predicts-universal-income-will-eventually-be-high-but-fears-people-will-feel">&#8216;I Don&#8217;t Think We&#8217;re Going to Have a Choice&#8217;: Elon Musk Predicts Universal Income Will Eventually Be &#8216;High&#8217;—But Fears People Will Feel &#8216;Useless&#8217;</a></li>
</ul>



Image: Courtesy of Lloyd Financial, Shutterstock

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Efficiently Inefficient: 28-Year-Old Finance Pro Presents Paradox For An AI-Traded Future

As Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) turned the most valuable publicly traded company on Thursday, inching closer to a $4 trillion market capitalization, this multinational technology company, nicknamed &#8216;Big Blue,&#8217; has outperformed the Magnificent 7 and the Jensen Huang-led tech giant in 2025.



What Happened: International Business Machines Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) has quietly outpaced the gains in Magnificent 7 stocks on a year-to-date basis, emerging as one of the most profitable artificial intelligence plays this year.



IBM&#8217;s generative AI book of business has <a href="https://www.benzinga.com/content/46151129/is-ibms-ai-transformation-powering-a-sustained-rally">surpassed $5 billion since its inception</a>, a clear indicator of customer demand. The stock has returned 32.75% YTD, higher than Nvidia&#8217;s 15.20% gains and also much higher than all the other Magnificent 7 stocks.



Even on a five-year basis, IBM has outperformed four out of seven Mag 7 components.



Moreover, the stock has also gained more than the exchange-traded fund tracking the Magnificent 7 stocks, Roundhill Magnificent Seven ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#BATS">MAGS</a>).



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Stocks</td><td>YTD Performance</td><td>One-Year Performance</td><td>Five-Year Performance</td></tr><tr><td>Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</td><td>15.20%</td><td>26.63%</td><td>1558.06%</td></tr><tr><td>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)</td><td>-12.43%</td><td>-5.65%</td><td>134.59%</td></tr><tr><td>Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</td><td>19.17%</td><td>6.69%</td><td>141.85%</td></tr><tr><td>Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</td><td>1.45%</td><td>11.70%</td><td>54.60%</td></tr><tr><td>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)</td><td>-5.29%</td><td>-5.94%</td><td>146.52%</td></tr><tr><td>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</td><td>19.99%</td><td>33.17%</td><td>208.03%</td></tr><tr><td>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</td><td>-16.86%</td><td>25.38%</td><td>291.35%</td></tr><tr><td>Roundhill Magnificent Seven ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#BATS">MAGS</a>)</td><td>3.27%</td><td>14.47%</td><td>123.1% (Since 2023)</td></tr><tr><td>International Business Machines Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>)</td><td>32.75%</td><td>65.87%</td><td>155.37%</td></tr></tbody></table></figure>



See Also: <a href="https://www.benzinga.com/news/politics/25/07/46258864/ray-dalio-warns-us-debt-per-family-will-rise-85-to-425000-over-next-10-years-as-house-passes-trumps-big-beautiful-bill">Ray Dalio Warns US Debt Per Family Will Rise 85% To $425,000 Over Next 10 Years As House Passes Trump&#8217;s &#8216;Big Beautiful Bill&#8217;</a>



Why It Matters: Apart from AI, IBM also emerged as one of the top investors alongside Alphabet Inc. (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>), making significant investments in the <a href="https://www.benzinga.com/markets/equities/25/06/45901958/ibm-google-emerge-as-top-investors-in-quantum-computing-with-most-patents-issued-in-2025-only-two-companies-seriously-investing-says-martin-shkreli">quantum computing space</a> on a year-to-date basis.



According to the data shared by Martin Shkreli in mid-June, there was a steep drop in the number of quantum computing patents issued after IBM and Google, suggesting that other companies are either smaller players or not prioritizing quantum computing as heavily.



Meanwhile, highlighting the tariff impact during the <a href="https://www.benzinga.com/markets/equities/25/04/44972416/ibm-plays-down-trump-tariff-concerns-doge-could-affect-consulting-business-but-its-us-federal-business-is-less-than-5-says-ceo">first quarter earnings call</a>, IBM's CFO and Senior Vice President, James Kavanaugh, said that the company was exploring alternatives to mitigate any indirect effects because the direct tariff impact was "minimal." 



"Goods imported to the U.S. represent less than 5% of our overall spend, and under current U.S. tariff policy, the impact to IBM is minimal. While we have limited direct exposure outside the United States, we are tactically evaluating alternative sources and other strategies to mitigate tariffs," he said.



Talking about the impact of DOGE-related initiatives, its Chairman, President, and CEO, Arvind Krishna, highlighted that its consulting business was "susceptible to discretionary pullbacks and DOGE-related initiatives."



The company is set to report its <a href="https://newsroom.ibm.com/2024-07-10-IBM-to-Announce-Second-Quarter-2024-Financial-Results#:~:text=ARMONK%2C%20N.Y.%2C%20July%2010%2C,at%205%3A00%20p.m.%20ET">second-quarter earnings</a> on July 24. -.



Benzinga Edge Stock Rankings shows that IBM had a stronger price trend over the short, medium, and long term. Its momentum ranking was solid, and its value ranking was poor at the 17.38th percentile. The details of other metrics are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here</a>.



<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="159" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04062451/IBM-Edge-New-1024x159.png" alt="" class="wp-image-973084" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04062451/IBM-Edge-New-1024x159.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04062451/IBM-Edge-New-300x47.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04062451/IBM-Edge-New-768x119.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04062451/IBM-Edge-New.png 1279w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



Price Action: On the truncated trading day of July 3rd, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, scaled fresh records and ended higher. The SPY was up 0.79% at $625.34, while the QQQ advanced 0.98% to $556.22, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro </a>data.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/07/46216283/dan-ives-urges-apple-to-make-a-move-saying-that-perplexity-acquisition-is-a-no-brainer-its-a-matter-of-when-and-not-if" target="_blank" rel="noreferrer noopener">Dan Ives Urges Apple ‘To Make A Move,' Saying That Perplexity Acquisition Is ‘A No-Brainer': ‘It's A Matter Of When And Not If'</a></li>
</ul>



Photo courtesy: MacroEcon / Shutterstock.com

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TSLA

Everyone Talked About Nvidia, Apple And Tesla, But This One Tech Stock Has Left Them All Behind In 2025

The decision by the U.S. to terminate a tax-free exemption for low-value goods from China has led to a drop in air cargo shipments from Asia to North America.



What Happened: The International Air Transport Association (IATA) reported a 10.7% decrease in air cargo demand from Asia to North America in May compared to the same period last year. According to a Reuters report, this decline is attributed to the U.S. decision to end the tax-free exemption for low-value packages from China in early May.



See Also: <a href="https://benzinga.com/news/topics/25/07/46253645/trump-lectures-japan-about-rice-but-u-s-tariffs-make-sugar-and-peanuts-140-more-expensive-for-america">Trump Lectures Japan About Rice But U.S. Tariffs Make Sugar And Peanuts 140% More Expensive For Americans, Says Peter Schiff</a>



Shipments valued under $800, commonly sent by air to U.S. customers of low-cost e-commerce platforms such as Shein and PDD&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) Temu, were previously exempt from taxes. However, since May 2, these shipments from China and Hong Kong have been subjected to taxes, initially as high as 145%, before settling to as low as 30% after a mid-May trade deal between the U.S. and China.



Why It Matters: This development comes on the heels of a series of trade policy changes by the U.S. government. In May, President Donald Trump significantly reduced tariffs on Chinese imports as the United States entered a <a href="https://www.benzinga.com/government/regulations/25/05/45368852/trump-lowers-de-minimis-tariff-on-chinese-imports-from-120-to-54-pauses-200-postal-fee-amid-90-day-trade-shift">90-day period</a> of trade negotiations with China. 



However, the US&#8217;s decision to end the tax-free loophole for low-value goods from China comes at a time of heightened trade tensions between the two countries.



Trump recently announced a <a href="https://www.benzinga.com/news/politics/25/07/46241070/trumps-vietnam-trade-deal-with-40-tax-on-transshipments-may-result-in-chinese-backlash-say-economists-they-want-inflation">trade deal with Vietnam</a>, imposing a 20% tariff on Vietnamese exports to the US and a 40% tariff on goods transshipped through Vietnam, particularly targeting Chinese products rerouted to avoid US tariffs. This move has been met with criticism, with economist <a href="https://www.benzinga.com/news/politics/25/07/46239985/peter-schiff-warns-americans-will-suffer-and-vietnamese-will-enjoy-after-trumps-trade-deal-with-hanoi">Peter Schiff warning</a> that American consumers are likely to bear the brunt of the agreement.



Amid ongoing <a href="https://www.benzinga.com/markets/macro-economic-events/25/06/46163141/trump-says-hell-skip-trade-deals-set-global-tariffs-with-a-letter-pay-a-25-tariff-or-20-or-40-or-50">trade negotiations</a> between the U.S. and China, the recent trade policy shifts by the U.S. are expected to have an impact on global trade dynamics and the performance of key industries.



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



Photo courtesy: miss.cabul / Shutterstock.com

Trump's Decision To End Tax-Free Loophole For Low-Value Goods From China Leads To A Sharp Decline In Air Cargo Shipments

California Governor Gavin Newsom (D) is set to embark on a South Carolina tour next week, sparking rumors about his potential presidential run in 2028.



What Happened: Newsom is scheduled to meet voters and tour several rural counties in South Carolina. The South Carolina Democratic Party announced the two-day tour, named &#8220;On the Road With Governor Gavin Newsom&#8221;, which will take place next week on Tuesday and Wednesday, <a href="https://thehill.com/homenews/campaign/5384839-newsom-traveling-south-carolina-amid-2028-speculation/">reported</a> The Hill.



Newsom will be visiting counties including Florence, Marion, Chesterfield, Kershaw, Oconee, Pickens, and Laurens. State party chair, Christale Spain, emphasized that the visit aims at &#8220;building partnerships, uplifting communities, and showing rural voters they aren't forgotten.&#8221;



Newsom, the leader of America&#8217;s largest economy and the world&#8217;s fourth-largest, had previously visited South Carolina in early 2024. He is frequently mentioned as a top contender for the Democrats&#8217; 2028 presidential nominee.



South Carolina was selected in 2022 as the first voting state in the party&#8217;s presidential nominating calendar, starting with the 2024 presidential election. 



See Also: <a href="https://benzinga.com/news/politics/25/07/46240478/trumps-big-beautiful-bill-advances-as-house-gop-squeezes-out-219-213-win" target="_blank" rel="noreferrer noopener">Trump&#8217;s &#8216;Big Beautiful Bill&#8217; Advances As House GOP Squeezes Out 219-213 Win</a>



Why It Matters: Newsom&#8217;s recent disagreements with President Donald Trump over immigration raids in Los Angeles have boosted his popularity. Tensions escalated after Trump backed the idea of arresting Newsom amid the then-ongoing immigration protests in Los Angeles. 700 Marines were deployed and California sued the Trump administration over federalization of the California National Guard.



Newsom&#8217;s South Carolina tour is not his first. In 2024, he embarked on a three-day campaign swing in South Carolina and Nevada, <a href="https://www.benzinga.com/news/24/01/36707575/gov-newsom-to-tour-south-carolina-and-nevada-in-support-of-biden-with-focus-on-rallying-rural-voters">rallying support</a> for President Joe Biden and focusing on engaging rural voters in key states.



Newsom&#8217;s political rivalry with Florida Governor Ron DeSantis (R) is also noteworthy. In 2023, Newsom suggested that DeSantis <a href="https://www.benzinga.com/news/23/09/34964420/gavin-newsom-believes-ron-desantis-regrets-running-for-president-he-took-the-bait">regretted his decision</a> to run for presidency.



Photo Courtesy: Sheila Fitzgerald on Shuttertsock.com



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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

General

Gavin Newsom Is Going To South Carolina Next Week To Remind Rural Voters There They Aren't Forgotten, Presidential Run In 2028 On The Cards?

In a major political victory, President Donald Trump secured the first legislative triumph of his second term, as House Republicans passed his <a href="https://www.benzinga.com/news/financing/25/07/46215975/trumps-big-beautiful-bill-offers-seniors-a-6000-bonus-tax-deduction-heres-how-you-qualify-for-the-benefit">sweeping domestic agenda bill</a> on Thursday, just ahead of the July 4 holiday.



Dubbed the "One Big, Beautiful Bill," the $3.3 trillion package includes a mix of tax cuts, military and border security boosts, and the steepest federal safety net reductions in decades, CNN <a href="https://www.cnn.com/2025/07/03/politics/trump-agenda-passed-congress">reports</a>.



The Senate had approved the legislation earlier in the week, and despite opposition from two House Republicans, the bill cleared both chambers largely along party lines. GOP leaders — Speaker Mike Johnson and Senate Majority Leader John Thune — overcame internal resistance to deliver on Trump's top campaign promises.



The bill makes permanent the 2017 individual tax cuts and doubles the standard deduction, a move the Tax Policy Center says will save the average filer about $2,900 in 2026. Seniors will temporarily get an added $6,000 deduction, but Trump's campaign pledge to end Social Security <a href="https://www.benzinga.com/news/financing/25/07/46215083/how-trumps-big-beautiful-bill-impacts-snap-medicaid-taxes-and-student-loans">taxes was dropped.</a>



Also Read: <a href="https://www.benzinga.com/news/politics/25/07/46237506/trump-says-jerome-powell-should-resign-immediately-after-fhfa-director-alleges-fed-chair-lied-about-2-5-billion-renovation-plan">Trump Says Jerome Powell Should &#8216;Resign Immediately&#8217; After FHFA Director Alleges Fed Chair Lied About $2.5 Billion Renovation Plan</a>



At the heart of the package are aggressive changes to Medicaid and SNAP. The bill imposes new work requirements and paperwork hurdles that the Congressional Budget Office estimates will cause 12 million people to lose Medicaid coverage, CBS News <a href="https://www.cbsnews.com/news/comparing-medicaid-cuts-house-senate-trump-big-beautiful-bill/">reports</a>. States will shoulder more program costs and face penalties for high payment errors.



Regarding education, the bill caps graduate loans and phases out popular programs, including Grad PLUS and subsidized loans. Forgiveness options shrink, and new borrowing limits will hit middle-class families the hardest.



Yet, the bill also introduces a pilot program called "Trump Accounts." Every baby born from 2025 through 2028 will receive a $1,000 stock market account seeded by the federal government, with parents allowed to contribute up to $5,000 annually.



Democrats, with Minority Leader Hakeem Jeffries at the helm, criticized the bill as favoring the wealthy while placing undue burdens on vulnerable communities.



Jeffries vowed to make the bill the centerpiece of 2026 midterm campaigns, citing $295 billion in SNAP cuts and a $1 trillion Medicaid rollback.



Despite the backlash, Trump and GOP leaders are already celebrating what they view as a defining legislative moment — a bet that the benefits will outweigh the political risks come election season.



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Photo: Shutterstock

Trump's $3.3 Trillion Bill Passes: Will Vulnerable Americans Pay The Price?

A pickup truck carefully designed so that the likes of Blade Runner and James Bond <a href="https://www.benzinga.com/news/23/12/36104426/elon-musk-wanted-to-make-a-vehicle-for-the-future-one-that-blade-runner-would-drive">would be proud</a> to drive it could be facing a demand decline that would force changes from Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).



What Happened: Tesla CEO Elon Musk had grand ambitions for the Cybertruck<a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/11/36032944/cybertruck-delivery-event-elon-musk-highlights-teslas-best-product-says-finally-the"> with planned production capacity </a>of 250,000 vehicles annually. Millions of people registered for the unique electric pickup truck.



In 2024, an estimated 38,965 Cybertrucks were sold in the U.S.,<a href="https://www.benzinga.com/news/25/01/42986863/us-electric-vehicle-sales-hit-record-1-3-million-units-in-2024-despite-tesla-declines-top-10-bestsel"> ranking fifth </a>among all electric vehicles in the country for the year.



In the first 14 months of availability, around 46,000 Cybertrucks were sold based <a href="https://www.benzinga.com/markets/equities/25/03/44414187/elon-musks-tesla-recalls-over-46000-cybertrucks-due-to-safety-concerns">on recall data.</a>



New data from Tesla suggests the Cybertruck demand could be stalling even more and the company could be selling less than 90% of its original annual goal.



Tesla recently reported its <a href="https://www.benzinga.com/trading-ideas/movers/25/07/46221375/tesla-stock-jumps-on-strong-q2-deliveries">second-quarter delivery figures</a>. The company delivered 384,122 total vehicles in the second quarter. Of this total, the majority fit into the Model 3 and Model Y category. The company's other category, which includes the Model S, Model X, Cybertruck and Tesla Semi had 10,394 deliveries in the second quarter.



Electrek <a href="https://electrek.co/2025/07/02/tesla-confirms-cybertruck-sales-are-down-to-just-5000-units/">estimates </a>that this means around 5,000 Cybertrucks were delivered with international data pointing to around 5,000 Model S and Model X vehicles sold in the quarter.



Tesla had 12,881 deliveries of the Other category in the first quarter, which would likely mean around 5,000 Cybertrucks delivered in that quarter.



Put that together and year-to-date Cybertruck deliveries stand at around 10,000, or 20,000 on an annualized basis. This is 8% of the 250,000 annual target the company was originally aiming for with Musk originally saying 2025 could be the first year of hitting that six-figure milestone.



Reports of weak demand for the Cybertruck, increased inventory of the vehicle on hand and price cuts have been trending topics when looking at the newer Tesla vehicle. The latest sales figures appear to back reports that Cybertruck demand is not where it should have been by now.



You may not be a billionaire like Elon Musk, but you can uncover hidden gems in the stock market using our proprietary data and pattern recognition — <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/06/46157351/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-71">check out five stocks flying under the radar that deserve your attention.</a>



Why It's Important: As reported by Electrek, Tesla reported seven straight quarters of 15,000 or more deliveries for its Other vehicles category prior to this year's first quarter. This includes three straight quarters, the second, third and fourth of 2024, with over 20,000 deliveries for the Other vehicles category.



With less than 11,000 Other vehicles delivered in the second quarter, the total is now lower than the first quarter of 2023, which was before the Cybertruck was even available.



An electric pickup truck from Tesla was expected to disrupt the market with pickup trucks one of the top-selling vehicle classes every year in America. Instead, the unique design and high price of the Cybertruck may have pickup truck fans keeping their traditional gas-powered vehicle.



Other automakers have also released electric pickup trucks and could be dipping into Tesla's market share.



Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) has the F-150 Lightning, which had 5,842 deliveries in the second quarter. General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) had 3,056 Silverado EV, 1,524GMC Sierra EV and 4,508 Hummer EV deliveries in the second quarter, according to the report. The Hummer EV total includes both pickup trucks and SUVs.



Rivian Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) delivered 10,661 vehicles in the second quarter, but doesn't break out its split between trucks and SUVs.



These companies are all expected to keep the pressure up on Tesla. There is also the upcoming convertible electric pickup truck that can turn into an SUV from Jeff Bezos-backed Slate Auto. Over 100,000 vehicles <a href="https://www.benzinga.com/news/25/05/45381497/jeff-bezos-backed-slate-hit-100k-ev-reservations-in-2-weeks-how-it-compares-to-cybertruck-launch">have been reserved </a>from Slate Auto.



With a current renewed focus on autonomous vehicles and robotaxis, Tesla may have to decide what it wants to do with the Cybertruck and if it will scale back some of the production capacity due to weakened demand.



 TSLA Price Action: Tesla stock trades at $315.36 on Thursday versus a 52-week trading range of $182 to $488.54. Tesla stock is down 16.7% year-to-date in 2025.



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Cybertruck Dreams Shatter As Musk's 250K Goal Unravels

Mark Zuckerberg, the CEO of Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), was allegedly asked to leave a meeting in the Oval Office due to security clearance issues.



What Happened: Zuckerberg, who was at the White House to meet with President Donald Trump, unexpectedly walked into a meeting about the F-47 stealth fighter jet, <a href="https://www.nbcnews.com/politics/donald-trump/fox-news-maga-hats-cookies-trump-west-wing-rcna214754">NBC</a> News reported on Wednesday. The Facebook founder was reportedly asked to wait outside due to concerns about his security clearance.



However, a senior Trump official refuted the claim that Zuckerberg was asked to leave the Oval Office.&nbsp;He told The New York Post&nbsp;that the situation was &#8220;mischaracterized.&#8221; &#8220;He was not asked to leave,&#8221; the official said. &#8220;He&nbsp;popped in to say hello&nbsp;at the president's request, and&nbsp;then left to wait for&nbsp;his meeting with POTUS to&nbsp;begin, which was scheduled to&nbsp;occur after the meeting with&nbsp;the pilots.&#8221;



SEE ALSO:&nbsp;<a href="https://benzinga.com/news/politics/25/07/46237506/trump-says-jerome-powell-should-resign-immediately-after-fhfa-director-alleges-fed-chair-lied-about" target="_blank" rel="noreferrer noopener">Trump Says Jerome Powell Should &#8216;Resign Immediately&#8217; After FHFA Director Alleges Fed Chair Lied About $2.5 Billion Renovation Plan</a>



Why It Matters: This incident comes amid a series of events that have linked&nbsp;Mark Zuckerberg&nbsp;and&nbsp;Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) to the Trump administration. Meta insiders revealed that Zuckerberg&#8217;s apparent alignment with the <a href="https://www.benzinga.com/markets/tech/25/06/46050532/mark-zuckerbergs-maga-pivot-driven-by-elon-musk-envy-image-goals-say-betrayed-meta-insiders-report">MAGA movement</a> had left many of his colleagues feeling &#8220;grieving,&#8221; with Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk&#8216;s popularity being a major motivating factor. 



This shift in Zuckerberg&#8217;s public image followed a suggestion by Trump that Meta could invest up to <a href="https://www.benzinga.com/markets/25/03/44323127/trump-suggests-meta-may-invest-up-to-60-billion-in-the-us-by-the-end-of-2025">$60 billion</a> in the US by the end of 2025.



In June, Meta Platforms and other American Big Tech were relieved as Canada&nbsp;rescinded its <a href="https://www.benzinga.com/markets/tech/25/06/46161429/canada-rescinds-digital-services-tax-after-trump-calls-it-a-blatant-attack-on-america">Digital Services Tax</a>&nbsp;after Trump called it a &#8220;blatant attack&#8221; on America, a move that was seen as a step towards mending bilateral relations. 



On a year-to-date basis, Meta stock surged 19.08%.



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Image via Shutterstock



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

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