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Economist Peter Schiff is calling out President Donald Trump&#8217;s blatant hypocrisy on the Federal Reserve&#8217;s interest rate policy, saying that his demands and behaviors mirror what he had himself condemned in the past.
What Happened: On Sunday's episode of The Peter Schiff Show, Schiff addressed Trump's latest remarks about Fed Chair Jerome Powell, whom Trump recently described as holding &#8220;the easiest job in the world.&#8221;
This comes amid repeated calls by Trump to cut interest rates, despite concerns surrounding tariff-related inflation in recent months.
See Also: <a href="https://www.benzinga.com/markets/economic-data/25/07/46430675/trump-powell-june-inflation-fed-rate-cuts">June Inflation Data Validates Powell&#8217;s Trump Pushback</a>
According to Schiff, Trump's demands mirror the exact behavior he once condemned. &#8220;When Donald Trump ran for president the first time, he called out Janet Yellen for leaving interest rates too low. He accused her of being political, of trying to help the [former President Barack] Obama administration by artificially boosting the economy with low interest rates,&#8221; Schiff said.
Schiff then highlights the fact that this is exactly what he now wants Powell to do, which he refers to as &#8220;another example of the Trump hypocrisy.&#8221;
He does, however, acknowledge the consistency Trump shows in such behavior, saying that &#8220;He&#8217;s a hypocrite, but he is consistently hypocritical.&#8221;
Schiff pushed back against Trump&#8217;s demands for 1% interest rates, a position that he finds incoherent with the current state of inflation, and Trump&#8217;s own assessment of strength in the economy. &#8220;If the economy is this strong, why should interest rates be at 1%?&#8221; he asks.
Schiff also warned that Powell's departure could damage perceptions of Fed independence. He criticized suggestions that the Fed Chair and Treasury Secretary should formally partner, calling it &#8220;a dangerous step&#8221; that could make it appear as though the central bank is politically captured.
&#8220;That is the danger, I think that Trump is pushing with his constant attacks,&#8221; Schiff said.
Why It Matters: This comes amid growing speculation of Trump ousting Powell &#8220;for cause&#8221; regarding the Fed&#8217;s $2.5 billion <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46485087/jerome-powell-defends-2-5-billion-fed-hq-overhaul-says-no-vip-dining-rooms-no-private-elevators-as-trump-allies-slam-project-over-versailles-style-excess">headquarters renovation project</a>. 
Fed Governor Christopher Waller recently said he would accept the Fed chair role &#8220;if the president asks,&#8221; while also backing a rate cut as early as July. That comment <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46491573/waller-fed-chair-trump-rate-cut-july">has raised concerns</a> about political influence over central bank decisions, exactly the kind of dynamic Schiff warns would undermine the Fed's independence.
Recently, Schiff has <a href="https://www.benzinga.com/news/25/04/45027556/after-powell-trumps-fed-nominee-will-be-a-loyal-soldier-says-peter-schiff-willing-to-sacrifice-the-dollar-create-inflation-as-needed">warned about this</a> repeatedly in recent months, saying that after Powell, Trump&#8217;s pick for the Federal Reserve Chair will be a &#8220;loyal soldier.&#8221; He says, &#8220;Trump will likely nominate the most dovish replacement to ever chair the Fed.&#8221;
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<li><a href="https://www.benzinga.com/markets/equities/25/07/46450946/wall-street-wednesday-stock-movers-sp500-trump-powell-bitcoin-gold">Gold, Bitcoin Surge As Trump Eyes Powell Ouster: What&#8217;s Moving Markets Wednesday?</a></li>
</ul>
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Government

Macro Economic Events

Politics

Economics

Federal Reserve

Peter Schiff Says Trump Wants Fed Chair Jerome Powell To Do 'Exactly' What He Accused Janet Yellen Of Doing For Obama: 'A Dangerous Step'

President Donald Trump marked six months back in the White House with a jubilant Truth Social post declaring the United States "the hottest and most respected Country anywhere in the World."
What Happened: The anniversary message capped a stretch the president called "one of the most consequential periods of any President," boasting that his team has "totally revived a major Country" after it was "DEAD" a year ago.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="940" height="356" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/21022613/Trump-post-1.png" alt="" class="wp-image-993054" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/21022613/Trump-post-1.png 940w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/21022613/Trump-post-1-300x114.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/21022613/Trump-post-1-768x291.png 768w" sizes="(max-width: 940px) 100vw, 940px" /></figure>
Some of the highlights of Trump&#8217;s second term so far include the fact that Congress <a href="https://www.benzinga.com/news/politics/25/07/46211326/one-big-beautiful-bill-passes-senate-with-jd-vances-tie-breaking-vote-trump-says-its-going-to-go-very-nicely-in-the-house">passed his "One Big Beautiful Bill Act,"</a> a sweeping package that locks in the 2017 tax cuts and expands border‑security funding. The period also saw several court victories for the President and his team. The Supreme Court sided with the administration in several high‑profile cases, including a decision upholding limits on <a href="https://www.benzinga.com/news/politics/25/06/46156417/supreme-court-hands-trump-a-monumental-victory-as-it-limits-judges-power-to-block-presidents-birthright-citizenship-order">birthright citizenship</a>.
The administration brokered three cease‑fire deals, most recently between Rwanda and the Democratic Republic of Congo, though promised breakthroughs on Russia‑Ukraine and Israel‑Hamas remain elusive.
See Also: <a href="https://www.benzinga.com/crypto/25/07/46511789/trump-shares-greatest-bitcoin-explanation-of-all-time-as-btc-gets-beaten-by-ethereum-dogecoin-and-solana">Trump Shares &#8216;Greatest Bitcoin Explanation Of All Time&#8217; As BTC Gets Beaten By Ethereum, Dogecoin And Solana</a>
<h3 class="wp-block-heading">Trump&#8217;s Approval Numbers</h3>
Trump claimed in a separate social media <a href="https://truthsocial.com/@realDonaldTrump/posts/114885474879269820">post</a> that his approval rate among Republicans stands as high as 95% in &#8220;various polls." Independent surveys paint a dimmer picture. Gallup put his June job <a href="https://news.gallup.com/poll/203198/presidential-approval-ratings-donald-trump.aspx">rating</a> at 40% overall, down seven points from January, while a CBS News/YouGov <a href="https://www.cbsnews.com/news/cbs-news-poll-trump-deportation-program-prices/">poll</a> released Sunday showed 42% approval.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="352" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/21023219/Trump-post-2-1024x352.png" alt="" class="wp-image-993062" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/21023219/Trump-post-2-1024x352.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/21023219/Trump-post-2-300x103.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/21023219/Trump-post-2-768x264.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/21023219/Trump-post-2-1536x529.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/21023219/Trump-post-2.png 1685w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
What To Know: The president's optimism collides with <a href="https://www.benzinga.com/news/politics/25/07/46511833/tim-burchett-shrugs-off-trumps-stupid-remark-doubles-down-on-jeffrey-epstein-files-push-doesnt-give-up-its-secrets-very-easy">intraparty friction</a>. Last week, he called GOP lawmakers pressing for full release of Jeffrey Epstein grand‑jury files "stupid" and "foolish," branding the controversy a Democratic "hoax."
Democrats point to lingering inflation and stalled Ukraine peace talks as evidence that the self‑proclaimed "revival" is oversold. Yet House Speaker Mike Johnson insists the megabill is "jet fuel for the economy" while <a href="https://www.foxnews.com/politics/johnson-says-megabill-jet-fuel-economy-teases-2-future-bills-within-next-year">speaking</a> to Fox News, echoing Wall Street chatter that the measure could <a href="https://www.benzinga.com/news/financing/25/07/46215083/how-trumps-big-beautiful-bill-impacts-snap-medicaid-taxes-and-student-loans">reshape everything</a> from SNAP benefits to cryptocurrency markets.
Six months in, Trump's allies hail a rebounding economy, tax permanence and headline peace deals, while polls show a still‑polarized electorate and unresolved foreign crises.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/07/46510287/elizabeth-warren-sounds-alarm-on-tariffs-the-impact-of-six-months-of-donald-trump-will-be-felt-for-two-generations">Elizabeth Warren Sounds Alarm on Tariffs: &#8216;The Impact of Six Months of Donald Trump Will Be Felt for Two Generations&#8217;</a></li>
</ul>
Image by Justin Lane/Pool via USA TODAY NETWORK via Imagn

News

Trump Says He's 'Totally Revived' A Country That Was 'DEAD' A Year Ago, Hails His First 6 Months Back As 'Most Consequential Periods Of Any President'

Over the weekend, billionaire venture capitalist Vinod Khosla criticized the co-founders of AI startup Windsurf for walking away from their team after a failed <a href="https://www.benzinga.com/markets/tech/25/07/46380738/google-beats-openai-secures-windsurf-technology-ceo-and-key-staff-for-2-4-billion">multibillion-dollar acquisition</a> by ChatGPT-parent OpenAI.
What Happened: Varun Mohan and Douglas Chen, the co-founders of Windsurf, were reportedly in late-stage talks to sell the startup to OpenAI for $3 billion. However, after the deal collapsed unexpectedly, both founders quickly <a href="https://www.benzinga.com/markets/tech/25/07/46413600/google-pumps-25-billion-into-us-ai-and-data-center-power-grid-heres-where-its-going">departed for positions</a> at Alphabet Inc.'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>) Google DeepMind, leaving the rest of their team in disarray.
Jeff Wang, formerly Windsurf's head of business and now its CEO, described the situation as "crazy" in a post on X, formerly Twitter, noting the emotional toll it took on staff.
"Some people were upset about financial outcomes or colleagues leaving, while others were worried about the future. A few were in tears," he wrote.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/topics/25/07/46383701/apple-undergoing-major-management-overhaul-but-ceo-tim-cook-to-stay-on" target="_blank" rel="noreferrer noopener">Apple Undergoing Major Management Overhaul, But CEO Tim Cook To Stay On</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">To put it mildly, the past week at Windsurf has been crazy. There have been a lot of different rumors and reports, so I want to share a transparent account of how it actually went down. Before I start, I just want to say that Varun and Douglas were great founders and this…
&mdash; Jeff Wang (@jeffwsurf) <a href="https://twitter.com/jeffwsurf/status/1946376139959841084?ref_src=twsrc%5Etfw">July 19, 2025</a></blockquote>
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Khosla, whose firm backs AI startup Cognition, which absorbed parts of Windsurf, weighed in on X, saying, "Windsurf and others are really bad examples of founders leaving their teams behind and not even sharing the proceeds… I definitely would not work with their founders next time."
Khosla's remarks came in response to a podcast clip featuring Cognition CEO Scott Wu, who said, "There's an unspoken covenant that as a founder, you go down with the ship."
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.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">So true. Windsurf and others are really bad examples of founders leaving their teams behind and not even sharing the proceeds with their team. I definitely would not work with their founders next time. <a href="https://t.co/SBjxB4Pqgs">https://t.co/SBjxB4Pqgs</a>
&mdash; Vinod Khosla (@vkhosla) <a href="https://twitter.com/vkhosla/status/1946655439921557760?ref_src=twsrc%5Etfw">July 19, 2025</a></blockquote>
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When challenged by a user for being hypocritical, Khosla doubled down. He said, "Absolutely not hypocritical about it. I would not work with the WeWork founder either!"
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Absolutely not hypocritical about it. I would not work with the WeWork founder either! Working without trust is sure way to be unhappy. And is this founder able to get the best teams to come join him? A 100X isn&#39;t worth it to me at the cost of my values, especially since I have… <a href="https://t.co/lTYjye98Te">https://t.co/lTYjye98Te</a>
&mdash; Vinod Khosla (@vkhosla) <a href="https://twitter.com/vkhosla/status/1946981845406756898?ref_src=twsrc%5Etfw">July 20, 2025</a></blockquote>
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Why It&#8217;s Important: Khosla, founder of Khosla Ventures, has played a key role in funding cutting-edge technologies, including biomedicine, robotics and artificial intelligence.
He was among the <a href="https://www.benzinga.com/tech/25/04/44621978/vinod-khosla-was-an-early-investor-in-openai-but-hes-no-fan-of-founder-friendly-venture-capitalism-i-hate-the-culture">first to back OpenAI</a> and reportedly invested $50 million in the company behind ChatGPT.
In 1982, Khosla co-founded Sun Microsystems, which was <a href="https://www.benzinga.com/news/23/12/36056265/openai-investor-vinod-khosla-works-80-hours-a-week-will-use-peter-thiels-anti-aging-methods-if-they">eventually acquired</a> by Oracle Corp. Prior to launching Khosla Ventures, he spent significant time at Kleiner Perkins, where he earned recognition as a forward-thinking tech investor.
Forbes <a href="https://www.forbes.com/profile/vinod-khosla/">estimates</a> his net worth at $9.9 billion. Known for embracing high-risk, high-reward opportunities, Khosla has led his firm to invest in notable companies like Affirm and DoorDash.
Check out more of Benzinga'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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</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Elle Aon on Shutterstock

GOOG

GOOGL

Ace Investor Vinod Khosla Blasts Windsurf Founders For Abandoning Team After $3 Billion OpenAI Deal Fell Apart: 'I Would Not Work With The WeWork Founder Either'

Alaska Air Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) has requested a nationwide ground stop for all its mainline aircraft, the U.S. Federal Aviation Administration (FAA) status page reported on Sunday.
Check out the current price of <a href="https://www.benzinga.com/quote/ALK">ALK stock here</a>. 
What Happened: According to Reuters, all destinations were affected by the ground stop for Alaska&#8217;s mainline fleet.
Neither Alaska Airlines nor the FAA immediately responded to <a href="https://www.benzinga.com">Benzinga</a>&#8216;s requests for comment outside of regular business hours.
A message on the airline&#8217;s <a href="https://www.alaskaair.com/">website</a> read, "We are experiencing issues with our IT systems. We apologize for the inconvenience and are working to resolve the issues.&#8221;
The Seattle-based airline also said there would be residual impacts to its operations throughout the evening, without providing more details.
See Also: <a href="https://www.benzinga.com/markets/equities/25/07/46463595/dan-ives-picks-5-stocks-for-2nd-half-of-2025-nvidia-palantir-microsoft-and-more-golden-age-of-tech-is-here-with-ai-revolution" target="_blank" rel="noreferrer noopener">Dan Ives Picks 5 Stocks For 2nd Half Of 2025: Nvidia, Palantir, Microsoft And More: ‘Golden Age Of Tech Is Here With AI Revolution'</a>
Why It Matters: The disclosure of Alaska&#8217;s IT issues coincides with warnings from Alphabet Inc.&#8216;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>) Google and Palo Alto Networks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>) about the &#8220;<a href="https://www.benzinga.com/news/24/05/38710149/cyberattack-group-shifts-focus-to-banks-insurers-after-casinos">Scattered Spider</a>&#8221; hacking group&#8217;s targeting of the aviation sector. 
A hack disrupted some IT systems at Hawaiian Airlines, an Alaska Air Group company, in June. Alaska Air Group stated it was still calculating the financial impact, reported Reuters.
Price Action: Shares of Alaska Air ended 0.28% lower on Friday in after-hours trading. It was down 17.34% on a year-to-date basis and up 37.23% over the past year.
Benzinga Edge Stock Rankings shows that ALK had a stronger price trend over the short, medium, and long term. Its momentum ranking was decent, and its value ranking was moderate at the 55.45th percentile. The details of other metrics are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~: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-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="164" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/21014919/EDGE-ALK-1024x164.png" alt="" class="wp-image-993024" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/21014919/EDGE-ALK-1024x164.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/21014919/EDGE-ALK-300x48.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/21014919/EDGE-ALK-768x123.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/21014919/EDGE-ALK.png 1162w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
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, ended lower on Friday. The SPY was down 0.07% at $627.58, while the QQQ advanced 0.09% to $561.26, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
On Monday, the futures of the S&amp;P 500, Nasdaq 100, and Dow Jones indices were higher.
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<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46487109/ripple-ceo-hails-genius-act-as-transformational-legislation-compares-it-to-dodd-frank-act-this-moment-is-a-historic-one">Ripple CEO Hails GENIUS Act As &#8216;Transformational Legislation,&#8217; Compares It To Dodd-Frank Act: &#8216;This Moment Is A Historic One&#8217;</a></li>
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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: Ian Dewar Photography / Shutterstock.com

PANW

Alaska Air Grounds All Mainline Flights Nationwide Amid IT Outage — Cyberattack Fears Loom After 'Scattered Spider' Aviation Warning

OUTLOOK&nbsp;
FY26 traffic remains on track to grow just 3% to 206m passengers, due to heavily delayed Boeing deliveries. As previously guided, we expect modest unit cost inflation in FY26 as the delivery of more B737 Gamechangers, advantageous fuel hedging and effective cost control across our Group airlines helps offset increased ATC charges and higher enviro. costs. While S.25 travel demand is strong, Q2 fare increases will be lower than in Q1 (which benefitted from a full Easter holiday in April and weak prior-year comps) and we now expect to recover almost all of the 7% fare decline we suffered in PY Q2. The final H1 outcome is, however, heavily dependent on the strength of close-in Aug. and Sept. bookings. As is normal at this time of year, we have zero H2 visibility (where PY fare comps normalise and last years modest delivery delay compensation rolls off).&nbsp;
It remains too early to provide meaningful FY26 PAT guidance. We do, however, cautiously expect to recover almost all of last years 7% full-year fare decline, which should lead to reasonable net profit growth in FY26. The final FY26 outcome remains heavily exposed to adverse external developments, incl. the risk of tariff wars, macro-economic shocks, conflict escalation in the Middle East and Ukraine and European ATC strikes, mismanagement &amp; short staffing."

Guidance

RYAAY

Ryanair Maintains FY26 Traffic Forecast At 3% Despite Boeing Delays And Tariff Risks; PAT Guidance Still Unclear

&nbsp;The company reported quarterly sales of $4.12 billion which missed the analyst consensus estimate of $4.99 billion by 17.52 percent. This is a 5.42 percent increase over sales of $3.90 billion the same period last year.

Earnings

Ryanair Holdings Q1 EPADS $4.34, Sales $4.12B Miss $4.99B Estimate

On Sunday, Howard Lutnick, the Commerce Secretary, stated that August 1 is the &#8220;hard deadline&#8221; for countries to begin paying tariffs to the United States.
What Happened: Lutnick also noted that nations can still engage in discussions with the U.S. after this date. 
&#8220;That's a hard deadline, so on August 1, the new tariff rates will come in,&#8221; he <a href="https://youtu.be/k7hAr6C-yGY?feature=shared">told</a> CBS News, adding, &#8220;nothing stops countries from talking to us after August 1.&#8221;
President Donald Trump initially announced these&nbsp;tariffs&nbsp;on April 2. Despite several shifts in the deadline, the White House has now confirmed August 1 as the final date.
Lutnick also mentioned that smaller countries, including those in Latin America, the Caribbean, and Africa, will face a baseline tariff of 10%.
Trump had previously hinted at baseline tariff rates of over 10% for these nations. He also indicated that letters detailing the new tariff rates would be sent to smaller countries soon.
See Also: <a href="https://benzinga.com/crypto/cryptocurrency/25/07/46511527/bitcoin-flat-as-1-billion-whale-move-sparks-speculation-ethereum-dogecoin-spike-analyst-says-btcs-next-leg-up-will-pump-it-above-130000" target="_blank" rel="noopener">Bitcoin Flat As $1 Billion Whale Move Sparks Speculation, Ethereum, Dogecoin Spike: Analyst Says BTC&#8217;s Next Leg Up Will Pump It Above $130,000 &#8211; Grayscale Bitcoin Mini Trust (BTC) Common units of frac</a>
Lutnick's remarks follow letters sent by Trump earlier this month to U.S. trading partners, informing them of new tariff rates that could reach up to 40% for certain countries. The announcement triggered a wave of last-minute negotiations as nations scrambled to secure lower rates.
Why It Matters: The announcement of the hard deadline for tariffs comes amid a series of tariff-related developments. Trump had previously proposed a blanket tariff rate of 15%-20% on most nations, a <a href="https://www.benzinga.com/news/politics/25/07/46386524/trump-wants-blanket-tariffs-of-up-to-20-after-surprise-treasury-surplus-in-june-ed-yardeni-says-dont-push-your-luck">significant increase from the current</a> 10% base, following an unexpected federal budget surplus in June, largely attributed to a surge in tariff receipts.
These inconsistent policies have raised concerns, with Sen. Elizabeth Warren (D-Mass.) voicing worries over the <a href="https://www.benzinga.com/news/politics/25/07/46510287/elizabeth-warren-sounds-alarm-on-tariffs-the-impact-of-six-months-of-donald-trump-will-be-felt-for-two-generations">long-term impact</a> of Trump&#8217;s tariffs on global partnerships.
Trump had also previously indicated that he would be sending &#8220;take it or leave it&#8221; <a href="https://www.benzinga.com/news/politics/25/07/46263813/trump-to-send-take-it-or-leave-it-tariff-letters-to-12-countries-on-monday-report">tariff letters to 12 countries</a>, detailing the tariff rates they would face on exports to the U.S. These offers were set to be dispatched in early July, outlining the tariff levels that would apply to the countries&#8217; exports to the U.S.
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<li><a href="https://benzinga.com/markets/equities/25/07/46511459/nyu-professor-warns-companies-against-moving-cash-into-bitcoin-unless-youre-strategy-paypal-or-a" target="_blank" rel="noopener">NYU Professor Warns Companies Against Moving Cash Into Bitcoin — Unless You&#8217;re a Strategy, PayPal, Or A Meme Stock: &#8216;This Is A Bad Idea&#8217;</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image Courtesy: Joshua Sukoff / Shutterstock.com

Howard Lutnick Says Trump's August 1 Tariff 'Hard Deadline' Is Final — Smaller Nations Face 10% Base Rate

Preliminary financial information for the First Half 2025(2):
<figure class="table"> 
<table>
<tbody>
<tr>
<td>First Half 2025</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Estimate (€B)</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Net revenues</td>
<td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; €74.3</td>
</tr>
<tr>
<td>Net loss</td>
<td>(€2.3)</td>
</tr>
<tr>
<td>Adjusted operating income(3)</td>
<td>€0.5&nbsp;&nbsp;&nbsp;</td>
</tr>
<tr>
<td>Cash Flows from operating activities</td>
<td>(€2.3)</td>
</tr>
<tr>
<td>Industrial free cash flows(4)</td>
<td>(€3.0)</td>
</tr>
</tbody>
</table>
</figure>
The following factors had a significant impact on results in the first half of 2025:
<ul>
<li>The early stage of actions being taken to improve performance and profitability, with new products expected to deliver larger benefits in the Second Half of 2025</li>
<li>Approximately €3.3 billion of pre-tax net charges, primarily related to program cancellation costs and platform impairments, net impact of the recent legislation eliminating the CAFE penalty rate, and restructuring, which are excluded from Adjusted Operating Income(3) consistent with the Company's definition of AOI</li>
<li>Adverse impacts to AOI from higher industrial costs, geographic and other mix factors, and changes in foreign exchange rates</li>
<li>The early effects of US tariffs – €0.3 billion of net tariffs incurred as well as loss of planned production related to implementation of the Company's response plan</li>
</ul>

STLA

Stellantis Reports Preliminary H1 2025 Loss Of €2.3B On €74.3B Revenue As Q2 Shipments Drop 6% To 1.4M Units Amid Tariff Disruptions And European Product Transitions

Economist Peter Schiff on Sunday called the UK&#8217;s purported plan to sell almost $6.70 billion in stolen Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) a &#8220;right&#8221; approach to address their budget deficit.
What Happened: Schiff took to X to comment on The Telegraph&#8217;s report that UK Chancellor Rachel Reeves is considering selling the BTC stash recovered by police to help close a fiscal gap.
&#8220;For once, the Brits might actually get something right,&#8221; the Bitcoin skeptic said. 
Schiff used the opportunity to poke fun at Bitcoin advocate Michael Saylor, suggesting that his firm, Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), might become the buyer. 
&#8220;I hope the U.S. doesn't buy it for the Strategic Reserve,&#8221; he added.
<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">The UK is thinking about selling £5 billion worth of Bitcoin seized from criminals. The proceeds could help plug the hole in their budget. For once, the Brits might actually get something right. Maybe <a href="https://twitter.com/saylor?ref_src=twsrc%5Etfw">@Saylor</a> will buy it. I hope the U.S. doesn't buy it for the Strategic Reserve.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1947090834530189693?ref_src=twsrc%5Etfw">July 21, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46510203/1-billion-bitcoin-transfer-triggers-massive-liquidations-this-is-where-it-was-offloaded">$1 Billion Bitcoin Transfer Triggers Massive Liquidations — This Is Where It Was Offloaded</a>
Why It Matters: The Bitcoin in question, amounting to 61,000 BTC, was&nbsp;confiscated in 2018 from a&nbsp;Chinese Ponzi scheme. 
The report <a href="https://t.co/SnUar6n5uo">added </a>that the Home Office is developing a "cryptocurrency storage and realization framework" to manage and liquidate the holdings, with a tender offering up to £40 million, worth $53.68 million, in commission.
The anticipated sell-off comes amid a <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46388685/bitcoin-shatters-all-time-high-to-hit-123000-as-ethereum-cracks-3000-and-xrp-taps-3#:~:text=Bitcoin%20Shatters%20All%2DTime%20High,And%20XRP%20Taps%20%243%20%2D%20Benzinga">major cryptocurrency market rally</a> that has pushed Bitcoin to historic highs of over $123,000.
Interestingly, confusion prevailed last week over reports suggesting that the <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46461871/cynthia-lummis-raises-alarm-over-reports-of-80-drop-in-us-bitcoin-reserves-analyst-says-nothing-conclusive-until-official-word-comes">U.S. government offloaded over 80% of its&nbsp;Bitcoin reserves</a>, leaving just around 29,000 BTC. &nbsp;According to President Donald Trump&#8217;s executive order, the deposited BTC in reserves is not supposed to be sold.
Price Action:&nbsp; At the time of writing, BTC was exchanging hands at $118,380.36, up 0.32% in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.&nbsp;Year-to-date, the cryptocurrency has gained 25.65%.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46511361/jack-dorseys-block-with-over-1-billion-in-bitcoin-holdings-set-to-join-sp-500-shares-pop-8-in-overnight-trading">Jack Dorsey&#8217;s Block, With Over $1 Billion In Bitcoin Holdings, Set To Join S&amp;P 500 — Shares Pop 8% In Overnight Trading</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Image Credit: Bob Montgomery / USA TODAY NETWORK Imagn Images<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>

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

Cryptocurrency

$BTC

MSTR

Peter Schiff Says UK's Plan to Sell $6.7 Billion In Seized Bitcoin Could Help Budget: 'I Hope The US Doesn't Buy It For The Strategic Reserve'

The billionaire owner of the iconic burger chain&nbsp;In-N-Out, Lynsi Snyder, has announced that she is relocating her family and the company&#8217;s headquarters from California to Tennessee. Snyder cited the challenges of doing business and raising a family in California as the primary reasons for the move.
What Happened: In an episode of the &#8220;Relatable&#8221; podcast released on Friday, Snyder revealed that she is moving to Tennessee as part of In-N-Out&#8217;s expansion into the southeastern United States. The company will also establish a new headquarters in the Nashville suburbs.
Snyder highlighted the challenges of running a business in California, particularly the COVID-19 restrictions, including mask mandates and vaccine requirements. The state&#8217;s stringent policies made it difficult for In-N-Out to operate, with health officials temporarily shutting down several locations in 2021 due to the chain&#8217;s refusal to enforce vaccination mandates.
See Also:&nbsp;<a href="https://benzinga.com/crypto/cryptocurrency/25/07/46495773/shiba-inu-rallies-10-in-1-week-can-it-go-higher" target="_blank" rel="noopener">Shiba Inu Rallies 10% In 1 Week: Can It Go Higher?</a>
&#8220;There&#8217;s a lot of great things about California, but raising a family is not easy here. Doing business is not easy here,&#8221; Snyder said in the podcast.
Despite the move, In-N-Out will continue&nbsp;to expand in the Southeast, with Tennessee as the new corporate hub. Snyder emphasized that the company&#8217;s priority is sustainable expansion while maintaining&nbsp;the quality of its products&nbsp;and services.
Why It Matters: Snyder&#8217;s decision to relocate her family and business from California is another example of prominent figures expressing frustration with the state&#8217;s business environment.
In June 2024, celebrity chef Andrew Gruel announced that he would <a href="https://www.benzinga.com/general/24/06/39480311/celebrity-chef-refuses-to-open-new-businesses-in-california-until-they-fix-things">not open any new businesses</a> in California until the state &#8220;actually fix things,&#8221; citing the challenges faced by restaurants due to COVID-19 restrictions.
Last year, California raised <a href="https://www.benzinga.com/economics/macro-economic-events/24/05/38557569/april-jobs-report-preview-bank-of-america-anticipates-solid-payrolls-growth-risin">its minimum wage from $16 to $20</a>, triggering a ripple effect across the fast-food industry. Major chains, such as Chipotle Mexican Grill Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>), McDonald's Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), and Starbucks Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), responded by increasing their prices to offset rising labor costs.
Although the wage hike aimed to support and uplift workers, it created <a href="https://www.benzinga.com/general/24/04/38093034/impact-of-californias-wage-hike-chipotle-mcdonalds-and-starbucks-brace-consumers-for-price-surges-ac">financial challenges for businesses</a>, which had to manage significantly higher expenses. These costs were ultimately passed on to consumers through price hikes.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="After 77 Years, In-N-Out Is Moving to Tennessee. Here&#039;s Why &#x7C; Lynsi Snyder &#x7C; Ep 1219" width="500" height="281" src="https://www.youtube.com/embed/E8HnqAgtlcc?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Read Next:&nbsp;
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<li><a href="https://benzinga.com/news/topics/25/07/46510332/the-economy-was-roaring-suze-orman-breaks-down-why-high-oil-prices-dont-always-mean-a-market-crash" target="_blank" rel="noopener">&#8216;The Economy Was Roaring&#8217; — Suze Orman Breaks Down Why High Oil Prices Don&#8217;t Always Mean A Market Crash</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: Eric Broder Van Dyke / Shutterstock.com

SBUX

In-N-Out Billionaire Owner Lynsi Snyder Moves Family And HQ To Tennessee, Citing California's Regulations: 'Doing Business Is Not Easy Here'

SRPT

Reported Friday, Sarepta Responded To FDA's Informal Request On ELEVIDYS With Voluntary Shipment Pause For Label Update And Immunosuppression Evaluation

FCPT

Reported Friday, FCPT Acquires Six Novant Health Urgent Care Properties In South Carolina For $12M Under Long-Term Triple Net Leases

Reported Friday, Sunrun Prices $431M Residential Solar Securitization Backed By Over 63,000 Systems Across 12 States And D.C.

CAVA

Reported Earlier, CAVA Opens First Michigan Location In Canton, Expanding Bold Mediterranean Fast-Casual Experience To 28th State

<ul>
<li>Donald Trump Jr. recently spoke about the U.S. economy and industry, giving a shout-out to homegrown AI and tech innovators like Faraday Future.</li>
<li>BlackRock, the world's largest asset manager, recently filed their 13G as of July 17, showing they've boosted their FFAI shares almost 7 times since last quarter.</li>
</ul>

Faraday Future Intelligent Electric Inc. - Class A Common Stock

FFAI

Reported Earlier, Faraday Future Launches FX Super One And Super EAI F.A.C.E. System At Stunning LA Skyline Event, Marking Major Milestone iIn AIEV Strategy

LAES

WKEY

SEALSQ And WISeKey Confirm Activation Of LLG4IR.com Cross-Border Center To Bridge Gibraltar And La Línea With Quantum, AI, And Space Innovation

<ul>
<li>The pivotal Phase IIb ALIENTO study met the primary endpoint of a statistically significant reduction in the annualized exacerbation rate (AER) at 52 weeks when astegolimab was given every two weeks</li>
<li>The Phase III ARNASA study did not meet the primary endpoint of a statistically significant reduction in the AER at 52 weeks</li>
<li>The safety profile of astegolimab was consistent with previously reported data, with no new safety signals identified</li>
<li>Analysis of the ALIENTO and ARNASA data will be discussed with regulatory authorities and shared at an upcoming medical meeting</li>
</ul>

RHHBF

RHHBY

Roche's Genentech Highlights Consistent Safety Profile For Astegolimab Across ALIENTO And ARNASA COPD Trials With No New Safety Signals Identified

Barstool Sports founder Dave Portnoy has seemingly hit his mark on a high-stakes $10 million Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) trade he made two weeks ago.
Check out the current price of&nbsp;<a href="https://www.benzinga.com/quote/TSLA" target="_blank" rel="noreferrer noopener">TSLA stock here.</a>
What Happened: On July 8, Portnoy posted a video on X, claiming to have <a href="https://www.benzinga.com/markets/25/07/46327971/dave-portnoy-drops-10-million-on-tesla-hoping-for-10-bounce-in-2-weeks-or-less-from-crazyelon-bet">bet $10 million on Tesla</a> shares, likely around $293 per share, where the stock was trading at the time. 
&#8220;Update – I bought the 10 milly $TSLA hoping for 10% bounce in 2 weeks or less,&#8221; Portnoy posted on X, tagging the move as a #CrazyElon play, referring to CEO Elon Musk&#8217;s decision to form a new political party, dubbed &#8220;The America Party,&#8221; which led to a nearly 7% <a href="https://www.benzinga.com/markets/tech/25/07/46291445/tesla-tanks-68-billion-as-elon-musk-unveils-america-party-investors-rattle-over-political-pivot-trump-backlash-adds-fuel">drop in the stock</a>.
See Also: <a href="https://www.benzinga.com/markets/tech/25/07/46487092/as-trump-axes-ev-incentives-elon-musks-tesla-announces-new-offers-amid-sluggish-us-sales">As Trump Axes EV Incentives, Elon Musk&#8217;s Tesla Announces New Offers Amid Sluggish US Sales</a>
Portnoy said in the video that he aims to make 10%, or &#8220;a million bucks&#8221; from the trade, which he promptly plans to take to the Saratoga Race Course in New York.
Now, a little under two weeks later, Portnoy&#8217;s trade has already hit its target, with the company closing at $329 a share on Friday, a gain of 12.28%. 
Portnoy, who regularly shares his latest sports wagers and their results on his X account, is yet to provide an update on this trade. 
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Update &#8211; I bought the 10 milly <a href="https://twitter.com/search?q=%24tsla&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$tsla</a> hoping for 10% bounce in 2 weeks or less. <a href="https://twitter.com/hashtag/crazyelon?src=hash&amp;ref_src=twsrc%5Etfw">#crazyelon</a> <a href="https://twitter.com/hashtag/ddtg?src=hash&amp;ref_src=twsrc%5Etfw">#ddtg</a> <a href="https://t.co/zFqVNMwpKy">pic.twitter.com/zFqVNMwpKy</a>
&mdash; Dave Portnoy (@stoolpresidente) <a href="https://twitter.com/stoolpresidente/status/1942233926216323220?ref_src=twsrc%5Etfw">July 7, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Tesla shares have been <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44612478/musk-needs-to-navigate-brand-crisis-or-else-warns-analyst-tesla-delivery-number-was-a-disaster-for-the-bulls">increasingly under pressure</a> owing to Musk&#8217;s political activities in recent months, with analyst Dan Ives of Wedbush Securities saying that his stint in the White House may have hurt the brand.
Musk&#8217;s recent fallout with President Donald Trump made things worse for his companies, with the latter <a href="https://www.benzinga.com/news/25/06/45845425/mark-cuban-reacts-to-elon-musk-donald-trump-feud">threatening to terminate billions</a> in government contracts. 
According to a survey of Benzinga readers, 71% believe that Tesla&#8217;s shares will fall over the <a href="https://www.benzinga.com/news/politics/25/07/46332361/musk-political-push-to-hurt-tesla-stock-71-say-stock-will-fall-in-next-12-months">next 12 months</a>, owing to Musk&#8217;s renewed political push. 
Price Action: Tesla shares were up 3.21% on Friday, trading at $329.65, and are up 1.65% after hours.
<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="149" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/20233003/Screenshot-2025-07-21-at-8.59.52-AM-1024x149.png" alt="" class="wp-image-992912" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/20233003/Screenshot-2025-07-21-at-8.59.52-AM-1024x149.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/20233003/Screenshot-2025-07-21-at-8.59.52-AM-300x44.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/20233003/Screenshot-2025-07-21-at-8.59.52-AM-768x112.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/20233003/Screenshot-2025-07-21-at-8.59.52-AM.png 1528w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
According to Benzinga&#8217;s Edge Stock Rankings, Tesla currently scores high on Growth and has a favorable price trend in the medium and long terms. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for deeper insights into the stock, its peers and competitors.
Read More: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/07/46407991/elon-musks-tesla-to-sell-model-y-from-70000-in-india-launches-first-showroom-in-mumbai">Elon Musk&#8217;s Tesla To Sell Model Y From $70,000 In India, Launches First Showroom In Mumbai</a></li>
</ul>
Image via Shutterstock

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