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Xiaomi is a technology product and services company founded in early 2010, focusing mainly on smartphones and Internet of Things products and related internet services. An early adopter of online smartphone sales, Xiaomi uses a customized Android operating system called HyperOS and has recently designed its own system on chip. As competition in its home Chinese smartphone market intensified and growth has slowed, it has expanded into other markets and has become the smartphone market leader in India and is gaining market share in Europe. From 2020 to 2024, from a country perspective, around 50% of its overall revenue was generated in mainland China, down from 94% in 2015. The company listed on the Hong Kong market at the beginning of July 2018.

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Ross Gerber, the CEO of Gerber Kawasaki Wealth &amp; Investment Management, is throwing his weight behind the Federal Reserve&#8217;s decision to hold the rates, while sharply criticizing President Donald Trump&#8217;s trade and tariff policies, alongside the fiscal expansion that is resulting in inflation.
What Happened: On Wednesday, in a post on X, Gerber said that Federal Reserve Chair Jerome Powell was &#8220;doing the right thing&#8221; by holding interest rates steady, while waiting to assess the full impact of Trump&#8217;s tariff.
Gerber argues that if Trump wants lower interest rates, he should avoid policies that actively stoke inflation, such as the inflationary tariff policy and the &#8220;One Big, Beautiful Bill,&#8221; which is set to push the fiscal deficit higher, along with the country&#8217;s debt. 
The GOP bill that narrowly passed through the House in May comes with extensive tax cuts, alongside increased spending on defense, manufacturing, and infrastructure.
See Also: <a href="https://www.benzinga.com/markets/tech/25/06/45785192/anthony-scaramucci-says-the-left-should-focus-on-why-it-lost-elon-musk-rather-than-demonizing-him-credits-tesla-ceo-for-enormously-positive-impact-on-humanity">Anthony Scaramucci Says The Left Should Focus On Why It Lost Elon Musk Rather Than &#8216;Demonizing&#8217; Him: Credits Tesla CEO For &#8216;Enormously Positive&#8217; Impact On Humanity</a>
&#8220;If Trump wants lower rates, then he should stop working on creating inflation through vast amounts of money printing,&#8221; he said.
Gerber's reference to &#8220;money printing&#8221; refers to the potential for large-scale deficit spending under the second Trump administration. As the Treasury issues more debt to finance its growing deficit, the Fed might be pressured to intervene and purchase government bonds, something that is equated to printing money.
The Fed has kept its benchmark interest rates at a target range of 4.25% to 4.50%, with the last 25 basis point cut coming in December. While the markets are pricing in <a href="https://www.benzinga.com/25/05/45192387/market-bets-on-aggressive-fed-cuts-clash-with-short-rate-market-data-next-fed-chair-could-initiate-cutting-cycle-says-expert">potential rate cuts</a> later this year, persistent inflation and policy uncertainties continue to be headwinds.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Powell and the Fed are doing the right thing holding rates while waiting to see the damage caused by trumps tariffs. If Trump wants lower rates then he should stop working on creating inflation through vast amounts of money printing.
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1930303657406542235?ref_src=twsrc%5Etfw">June 4, 2025</a></blockquote>
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Why It Matters: Gerber has joined the growing chorus of other prominent experts, economists, and intellectuals who&#8217;ve come out against Trump&#8217;s budget reconciliation bill in recent weeks.
Trump ally and former head of the administration&#8217;s Department of Governmental Efficiency, Elon Musk, has <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45784755/elon-musk-who-called-trumps-one-big-beautiful-bill-a-disgusting-abomination-responds-to-coinbase-ceos-warning-that-bitcoin-could-replace-dollar">called the bill</a> &#8220;a disgusting abomination.&#8221;
Musk&#8217;s attack <a href="https://www.benzinga.com/news/politics/25/06/45762787/peter-schiff-backs-musks-furious-attack-on-trumps-disgusting-budget-bill-slams-gop-hypocrisy-so-glad-hopefully-elon-can-persuade-trump-to-veto-it">received the backing</a> of Peter Schiff, who hopes that &#8220;Elon can persuade Trump to veto it if it passes the Senate in its current form, or anything close to it.&#8221;
Former Treasury Secretary Lawrence Summers did not mince words when criticizing the <a href="https://www.benzinga.com/markets/25/05/45686699/larry-summers-issues-stark-warning-the-big-beautiful-bill-is-actually-a-prescription-for-deadly-dangerous-decline">administration&#8217;s fiscal policies</a>, referring to the &#8220;One Big, Beautiful Bill&#8221; as a prescription for &#8220;Deadly, Dangerous Decline.&#8221;
However, those within the Trump administration have <a href="https://www.benzinga.com/news/25/05/45678339/trump-economic-advisor-kevin-hassett-says-wed-have-had-a-recession-but-passing-of-one-big-beautiful">come out in support</a>, with White House economic advisor Kevin Hassett saying last week that the U.S. economy narrowly avoided a recession thanks to the GOP-backed tax bill. 
Hassett adds that not passing the bill would have, in fact, resulted in one of &#8220;the biggest tax hike in American history,&#8221; which would have &#8220;cut about 4% off of GDP growth,&#8221; and &#8220;we&#8217;d have had a recession,&#8221; he said.
Price Action: U.S. Treasuries have been inching up in recent weeks, in response to the tariffs and growing fiscal concerns. The 10-Year Treasury yields stand at 4.375%, followed by the 20-Year and 30-Year notes offering yields of 4.902% and 4.90%, respectively. 
Photo Courtesy: miss.cabul on Shutterstock.com
Read More:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45785389/trump-familys-crypto-conflicts-of-interest-are-coming-in-the-way-of-law-meant-to-regulate-digital-assets-says-gregory-meeks">Trump Family&#8217;s Crypto &#8216;Conflicts Of Interest&#8217; Are Coming In The Way Of Law Meant To Regulate Digital Assets, Says Gregory Meeks</a></li>
</ul>

Economics

Trump Can't Demand Lower Rates While 'Creating Inflation' With Tariffs And Money Printing, Says Ross Gerber — Backs Fed's Patience

The involvement of President Donald Trump&#8217;s family in the cryptocurrency industry was creating problems in the progression of a bill designed to regulate the sector, a senior Democratic legislator said on Wednesday.
What Happened: The&nbsp;House Financial Services Committee hearing, focused on&nbsp;the Digital Asset Market Clarity&nbsp;Act, also known as the CLARITY Act,&nbsp;witnessed Democrats expressing concerns about Trump&#8217;s engagement with cryptocurrencies. 
Rep.&nbsp;Gregory Meeks&nbsp;(D-N.Y.)&nbsp;said, &#8220;I wish we could be debating the merits of the CLARITY Act, but the President and his family&#8217;s egregious crypto conflicts of interest cannot be ignored.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I wish we could be debating the merits of the CLARITY Act, but the President and his family&#39;s egregious crypto conflicts of interest cannot be ignored. <a href="https://t.co/ZTKM4tBA98">pic.twitter.com/ZTKM4tBA98</a>
&mdash; Rep. Gregory Meeks (@RepGregoryMeeks) <a href="https://twitter.com/RepGregoryMeeks/status/1930436642679947294?ref_src=twsrc%5Etfw">June 5, 2025</a></blockquote>
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House Financial Services Chair&nbsp;French Hill&nbsp;(R-Ark.), who introduced the bill last week, <a href="https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=409753">asked for a productive dialogue</a>. &#8220;We should aim to identify areas of consensus within the legislation and thoughtfully address provisions that may require further refinement.&#8221;
See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/22/11/29640123/just-in-crypto-com-suspends-these-withdrawals-deposits-on-solana-chain" target="_blank" rel="noreferrer noopener">Crypto.com Suspends These Withdrawals, Deposits On Solana Chain</a>
Why It Matters: &nbsp;The Republican-led legislation aimed to provide&nbsp;a clear regulatory framework for&nbsp;the cryptocurrency industry, including&nbsp;how the Securities and Exchange&nbsp;Commission and the Commodity Futures&nbsp;Trading Commission will oversee the sector.
Democrats have been pushing back against the bill. Last month, Rep. Maxine Waters (D-Calif.), ranking member of the House Financial Services Committee, <a href="https://www.benzinga.com/25/05/45213365/maxine-waters-to-obstruct-cryptocurrency-hearing-plans-shadow-hearing-instead">voiced objections</a>, insisting on&nbsp;a provision in the legislation that would address the Trump family's cryptocurrency endeavors.
The Trump family's cryptocurrency ventures, including the Official Trump (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) <a href="https://www.benzinga.com/25/05/45187462/trump-denies-personal-profit-from-memecoin-venture-i-havent-even-looked">meme coin</a> and the World Liberty Financial USD (USD1) <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45160707/eric-trump-says-world-libertys-stablecoin-will-be-used-to-close-a-2-billion-deal-dollar-token-to-also-get-integrated-with-justin-suns-tron-blockchain">stablecoin</a>, have been a major point of contention, leading to calls for regulatory oversight.
Sen.&nbsp;Cynthia Lummis&nbsp;(R-Wyo.) said earlier this week that the Senate was also preparing to <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45765425/cynthia-lummis-says-senators-are-gearing-up-to-introduce-landmark-legislation-for-digital-a">push a similar bill</a> with minor tweaks and with bipartisan backing.
Photo Courtesy: Kirill Aleksandrovich on Shutterstock.com
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://benzinga.com/crypto/cryptocurrency/25/06/45784755/elon-musk-who-called-trumps-one-big-beautiful-bill-a-disgusting-abomination-responds-to-coinbase-ceos-warning-that-bitcoin-could-replace-dollar" target="_blank" rel="noreferrer noopener">Elon Musk, Who Called Trump&#8217;s &#8216;One Big Beautiful Bill&#8217; A &#8216;Disgusting Abomination,&#8217; Responds To Coinbase CEO&#8217;s Warning That Bitcoin Could Replace Dollar If Congress Isn&#8217;t Held Accountable &#8211; Benzinga</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

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

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$TRUMP

Trump Family's Crypto 'Conflicts Of Interest' Are Coming In The Way Of Law Meant To Regulate Digital Assets, Says Gregory Meeks

U.S. District Judge Gordon Gallagher ordered an immediate halt to deportation proceedings against the wife and five children of Mohamed Sabry Soliman, the Egyptian national charged in Sunday&#8217;s Boulder firebombing attack.
Immigration officials detained the family on Tuesday despite no charges against them. Soliman, 45, faces federal hate crime charges for throwing Molotov cocktails at Israeli hostage demonstrators, injuring 15 people, <a href="https://apnews.com/article/boulder-attack-vigil-mohamed-soliman-173ac2795d12ae6b416010d45aa6fe91">reported</a> the Associated Press.
&#8220;It is patently unlawful to punish individuals for the crimes of their relatives,&#8221; family attorneys argued. U.S. Secretary of Homeland Security Kristi Noem announced investigations into potential family knowledge of the attack.
Soliman&#8217;s wife holds a pending EB-2 professional visa. The defendant confessed to planning the year-long attack targeting &#8220;Zionist people&#8221; but abandoned his full plan.
Read Next: 
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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.
Image Via Shutterstock

Legal

Judge Halts Deportation Of Boulder Firebombing Suspect's Family: Homeland Security Announces Investigation

Meta Platforms, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) chief AI scientist, Yann LeCun, says the tech industry won't close the gap to human-level intelligence by scaling today's large language models and piling on more parameters.
What Happened: "We are not going to get to human-level AI by just scaling up LLMs. This is just not going to happen. There's no way — absolutely no way," LeCun told host Alex Kantrowitz on the Big Technology podcast in March. He dismissed bullish two-year timelines from "more adventurous colleagues" as "complete BS."
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In a clip of the podcast which was resurfaced on YouTube last week, LeCun likened current chatbots to "a system with a gigantic memory and retrieval ability, not a system that can invent solutions to new problems," adding that even if the models can answer most routine questions, "it's not a Ph.D. you have next to you." Instead of reasoning, he said, today's systems "pattern-match" the next word.
LeCun contends the best path forward is collaborative. According to a <a href="https://www.businessinsider.com/meta-yann-lecun-shared-open-source-ai-model-2025-5">report</a> by Business Insider, at the AI Action Summit in Paris, which took place in February, he urged governments to contribute anonymized data to a larger open-source model.
See also: <a href="https://www.benzinga.com/markets/tech/25/06/45784639/jeff-bezos-let-customers-cancel-their-own-amazon-orders-and-it-paid-off-big-if-you-give-people-more-controlmaybe-theyll-order-more">Jeff Bezos Let Customers Cancel Their Own Amazon Orders And It Paid Off Big: &#8216;If You Give People More Control…Maybe They&#8217;ll Order More&#8217;</a>
Why It Matters: LeCun has long doubted that OpenAI will win the race to artificial general intelligence (AGI), a stance he <a href="https://www.benzinga.com/news/23/12/36406462/metas-chief-ai-scientist-calls-openai-a-contract-research-house-for-microsoft-says-they-wont-be-the">first voiced</a> in December 2023. Last week, he pointed Elon Musk <a href="https://www.benzinga.com/news/24/05/39078600/meta-ai-chief-yann-lecun-says-elon-musk-could-use-this-new-paper-to-improve-xais-grok-amid-ongoing-f?utm_source=chatgpt.com">toward a new FAIR study</a> on "Contextual Positional Encoding," telling the xAI founder it could boost Grok and then amplified the paper by sharing Meta researcher Jason Weston's explanatory thread on X.
The exchange unfolded amid LeCun's running feud with Musk. After Musk posted xAI job openings on Monday, LeCun quipped that applicants should expect a boss who insists their project "<a href="https://www.benzinga.com/news/24/05/39031564/elon-musk-meta-ai-chief-yann-lecun-have-a-public-spat-again-like-his-cars-his-rockets-dislike-his-ve">will be solved next year</a>." He later applauded Musk's engineering triumphs in cars, rockets, and satellites while slamming the billionaire's politics, conspiracy theories, and habitual hype.
Price Action: Meta shares closed 3.16% higher at $687.95 on Wednesday, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?new_user=False&amp;backend=google-oauth2" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Benzinga Edge Stock Rankings indicate Meta has a Momentum in the 88th percentile and a strong Growth score in the 93rd percentile. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Check to see how other Magnificent Seven stocks rank in comparison</a>.
<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="140" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04071734/meta-edge-1024x140.png" alt="" class="wp-image-938047" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04071734/meta-edge-1024x140.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04071734/meta-edge-300x41.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04071734/meta-edge-768x105.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04071734/meta-edge.png 1372w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Photo Courtesy: Tapati Rinchumrus on Shutterstock.com
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Chief AI Scientist At Mark Zuckerberg's Meta Says 'No Way' Scaling ChatGPT-Like Models Is Going To Lead To Human-Level AI

Leading cryptocurrencies slipped Tuesday after weak private-sector job growth dampened investor sentiment.
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th>Cryptocurrency</th>
<th>Gains +/-</th>
<th>Price (Recorded at 9:30 p.m. ET)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-0.68%</td>
<td>$105,032.58</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-0.27%</td>
<td>$2,610.06</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-2.64%</td>
<td>$0.1882</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin dipped to an intraday low of $104,232.70 in early trading hours and fluctuated between the low $105,000s and high $104,000s for the rest of the day.
Ethereum surged to $2,670 but failed to sustain the rally, retreating to the early-$2,600 region. Compared to Bitcoin, the second-largest cryptocurrency recorded higher trading volumes during the day.
These moves led to the liquidation of nearly $150 million worth of bullish bets, while $64 million in shorts were erased.&nbsp;
That said, about $492 million in Bitcoin shorts were at the risk of liquidation if Bitcoin reclaims $107,000.
Bitcoin's Open Interest declined by 0.47% in the last 24 hours, matching the fall in its spot price. Interestingly, the majority of the top traders on Binance with open BTC positions placed bullish bets on the apex cryptocurrency.
The "Greed" sentiment weakened from 62 to 57 in the last 24 hours, according to the Crypto Fear &amp; Greed Index. 
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th>Cryptocurrency</th>
<th>Gains +/-</th>
<th>Price (Recorded at 9:30 p.m. ET)</th>
</tr>
</thead>
<tbody>
<tr>
<td>DeXe (DEXE)</td>
<td>+9.35%</td>
<td>$9.79</td>
</tr>
<tr>
<td>SPX6900 (SPX) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+5.14%</td>
<td>$1.15</td>
</tr>
<tr>
<td>Lido DAO (LDO)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+4.84%</td>
<td>$0.8877 </td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.3 trillion, following a dip of 0.63% in the last 24 hours.&nbsp;
Stocks were a mixed bag on Wednesday. The Dow Jones Industrial Average slipped 91.90 points, or 0.22%, to end at 42,427.74. The S&amp;P 500 eked out a narrow gain of 0.01% to close at 5,970.81. The tech-focused Nasdaq Composite rose 0.32% to finish at 19,460.49.
Dow's correction comes after <a href="https://www.benzinga.com/markets/economic-data/25/06/45768817/us-private-sector-hiring-slows-the-most-in-2-years-powell-must-now-lower-the-rate-trump-says">private-sector job growth</a> plunged to a more than two-year low in May, raising investor concerns that trade headwinds are beginning to bite.
Trump, who has been critical of the Federal Reserve's policy lately, pressed Chair Jerome Powell to cut interest rates after the numbers were out.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Blockchain research firm Santiment noticed a significant spike in Bitcoin's new wallets this week, even as it consolidated around $105,000.
"Growth in a network&#8217;s on-chain activity is generally a good sign. This is something to keep an eye on as crypto markets range," Santiment added.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f4ca; Bitcoin&#39;s on-chain activity has seen sharp rises this week as its price hovers just below $105K: &#x1f4c8; May 29th: 556,830 new <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> wallets created (Highest since December 2, 2023) &#x1f504; June 2nd: 241,360 coins circulated (Highest since December 8, 2024) Growth in a network&#39;s… <a href="https://t.co/2DxknVXrKT">pic.twitter.com/2DxknVXrKT</a>
&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1930415139846508700?ref_src=twsrc%5Etfw">June 5, 2025</a></blockquote>
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</figure>
Widely followed cryptocurrency analyst Michaël van de Poppe projected that the market is preparing for a "massive breakout."
He said that the U.S. Dollar Index and bond yields have begun to fall, while the Chinese yuan has strengthened against the dollar—a precursor to Ethereum's rally.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The markets are preparing for a massive breakout. &#8211; CNH/USD continues to go up &#8211;&gt; <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> usually follows few days after. &#8211; DXY continues to fall. &#8211; Yields are coming down. This means that we&#39;re at the actual low of the business cycle. <a href="https://t.co/Sbzzl87mvR">pic.twitter.com/Sbzzl87mvR</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1930346540855427414?ref_src=twsrc%5Etfw">June 4, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo Courtesy: Travis Wolfe on Shutterstock.com
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</ul>

Movers

$BTC

$DOGE

$ETH

Bitcoin, Ethereum, Dogecoin Slide On Weaker-Than-Expected Job Growth: Analyst Predicts 'Massive Breakout' Incoming For Markets—Here's Why

On Wednesday, Anthony Scaramucci, founder and CEO of SkyBridge Capital, praised Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk for his transformative impact on humanity through his companies, urging the political left to reconsider their stance on the <a href="https://www.benzinga.com/25/05/45661836/tesla-stock-gains-215-after-hours-as-elon-musk-ends-doge-government-role">billionaire entrepreneur</a>.
What Happened: Scaramucci highlighted Musk's contributions across multiple industries, from Tesla&#8217;s electric vehicles revolutionizing the auto industry to SpaceX making humanity's interplanetary ambitions a reality.&nbsp;
Musk is catalyzing the EV revolution with Tesla, extending the healthy life of Earth, Scaramucci posted.
He also pointed to the billionaire's focus on "responsible AI development" with xAI and advancements in healthcare with Neuralink, which is empowering paralyzed patients.
See Also: <a href="https://www.benzinga.com/tech/25/04/45090992/mark-zuckerberg-warns-of-serious-disadvantage-as-chinas-data-center-blitz-could-let-deepseek-leapfrog-us-ai-labs" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Warns Of ‘Serious Disadvantage&#8217; As China&#8217;s Data-Center Blitz Could Let DeepSeek Leapfrog US AI Labs</a>
"The left should focus on why it lost Elon, rather than demonizing him," Scaramucci stated.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">With <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> back in private sector, let's reset and give due credit for his enormously positive impact on humanity: &#x1f30e; Environment: Catalyzing the EV revolution with Tesla, extending healthy life of earth &#x1f680; Space: Making humanity interplanetary with SpaceX, plus expanding…
&mdash; Anthony Scaramucci (@Scaramucci) <a href="https://twitter.com/Scaramucci/status/1930310861001773163?ref_src=twsrc%5Etfw">June 4, 2025</a></blockquote>
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Why It&#8217;s Important: Scaramucci's comments reflect a growing divide between Musk and the political left. It also comes after Musk's departure as the head of the Department of Government Efficiency under the Donald Trump administration.
Previously, in an interview, Musk also <a href="https://www.benzinga.com/cannabis/25/06/45714305/elon-musk-says-doge-became-a-whipping-boy-for-everything-real-or-imagined-tesla-ceo-doesnt-agree-with-everything-white-house-does-but-wont-speak-out">defended his contentious tim</a>e leading DOGE, stating that the department was unfairly blamed for a wide range of issues in Washington.
&#8220;It&#8217;s a bit unfair … DOGE became the whipping boy for everything,&#8221; he said, adding, &#8220;If there was some cut, real or imagined, everyone would blame DOGE.&#8221;
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.
Musk's political involvement in the U.S., along with his outspoken views on Europe, also <a href="https://www.benzinga.com/news/25/01/43218481/elon-musks-shocking-remarks-to-far-right-german-party-too-much-focus-on-past-guilt">sparked considerable controversy</a>.
Amid the fallout, Tesla's <a href="https://www.benzinga.com/markets/25/04/44778739/elon-musks-political-fallout-fuels-record-dump-of-used-tesla-cars-now-selling-for-thousands-below-market-value">vehicle sales declined sharply</a> and the company's board of directors reportedly began searching for a <a href="https://www.benzinga.com/25/04/45124373/tesla-board-explored-replacing-elon-musk-as-tesla-ceo-a-month-ago-report">potential successor</a> to Musk as CEO. Both the board and the billionaire called the report false.&nbsp;
Now, Musk's renewed focus on Tesla has reignited optimism among Wall Street analysts. Dan Ives of Wedbush Securities set an upbeat price target of $500, forecasting that the company could ultimately <a href="https://www.benzinga.com/markets/equities/25/05/45557873/tesla-bull-dan-ives-thinks-elon-musks-ev-giant-could-be-entering-a-golden-era-says-2-trillion-market-cap-on-the-table">achieve a $2 trillion valuation</a>.
Price Action: Tesla shares have fallen 12.45% year to date but have surged 89.99% over the past 12 months, according to <a href="http://pro.benzinga.com/">Benzinga Pro data</a>.
Benzinga&#8217;s Edge Stock Rankings underscore Tesla&#8217;s strong price momentum across short, medium and long-term periods. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Additional detailed metrics are available here</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04223404/Screenshot-2025-06-05-at-8.01.32%E2%80%AFAM.png" alt="" class="wp-image-939056" /></a></figure>
Photo Courtesy: Al Teich On Shutterstock.com
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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<li><a href="https://www.benzinga.com/25/05/45396297/cathie-wood-dumps-palantir-as-stock-touches-peak-prices-bails-on-soaring-flying-taxi-maker-archer-aviation" target="_blank" rel="noreferrer noopener">Cathie Wood Dumps Palantir As Stock Touches Peak Prices, Bails On Soaring Flying-Taxi Maker Archer Aviation</a></li>
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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.

TSLA

Anthony Scaramucci Says The Left Should Focus On Why It Lost Elon Musk Rather Than 'Demonizing' Him: Credits Tesla CEO For 'Enormously Positive' Impact On Humanity

Renowned TV host Jim Cramer is sounding the alarm about a high-stakes supply chain threat from China, which poses a critical risk to U.S. industries. 
What Happened: On Wednesday, in a post on X, Cramer joined the growing chorus of executives, economists, and policymakers, raising concerns regarding China&#8217;s tightening grip on the rare-earth supply chain.
Specifically referring to neodymium and praseodymium magnets, which are essential components in electric vehicles, consumer electronics, and data center infrastructure, Cramer said, &#8220;The Chinese could really hurt us with these magnets,&#8221; adding that &#8220;everything from autos to data centers&#8221; stands to be impacted. 
See Also: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45784755/elon-musk-who-called-trumps-one-big-beautiful-bill-a-disgusting-abomination-responds-to-coinbase-ceos-warning-that-bitcoin-could-replace-dollar">Elon Musk, Who Called Trump&#8217;s &#8216;One Big Beautiful Bill&#8217; A &#8216;Disgusting Abomination,&#8217; Responds To Coinbase CEO&#8217;s Warning That Bitcoin Could Replace Dollar If Congress Isn&#8217;t Held Accountable</a>
The host of CNBC&#8217;s Mad Money says that &#8220;this could get serious,&#8221; as experts warn that these restrictions could <a href="https://www.benzinga.com/news/topics/25/05/45708426/chinas-rare-earth-magnet-restrictions-threaten-auto-production-could-result-in-shutdown-of-assembly-lines-report">shut down assembly lines</a> within a matter of weeks. 
With China controlling 90% of the total processing capacity of these magnets worldwide, the country imposed restrictions on their exports in April, along with other rare Earth elements, as a retaliatory measure against President Donald Trump&#8217;s &#8220;Liberation Day&#8221; tariffs.
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The Chinese could really hurt us with these magnets, everything from autos to data centers. This could get serious!!
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1930421568305246257?ref_src=twsrc%5Etfw">June 5, 2025</a></blockquote>
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Why It Matters: That being said, some experts are optimistic about establishing a <a href="https://www.benzinga.com/markets/25/04/45005825/us-has-tons-of-solutions-to-secure-rare-earth-production-if-china-halts-exports-experts-say-but-warn-of-significant-challenges">domestic rare-earth supply chain</a>, with Ian Lange of the Colorado School of Mines noting the existence of substitutes for these rare elements and manufacturers&#8217; ability to manage without them.
Other analysts have also pointed out the ongoing talks with Ukraine and <a href="https://www.benzinga.com/markets/commodities/25/02/43788546/ukraine-officials-stall-trumps-colonial-rare-earths-bid-prefer-mutually-beneficial-deal">Trump&#8217;s demands</a> for 50% ownership of the nation&#8217;s rare minerals, in exchange for continued financial and military support.
American miners are already boosting output to help meet the supply constraints, with American Resources Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AREC#NASDAQ">AREC</a>), a leading domestic player, having <a href="https://www.benzinga.com/news/small-cap/25/04/44901061/american-resources-doubles-rare-earth-output-bolsters-production-in-just-3-weeks">doubled the output</a> of its rare earths in recent weeks.
Price Action: Shares of American Resources were down 7.38% on Wednesday and 1.43% after hours. The stock is up 4.55% year-to-date. 
Other companies with exposure to these elements, however, spiked following Cramer&#8217;s take, with MP Materials Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MP#NYSE">MP</a>) and Australia&#8217;s Lynas Rare Earths Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LYSCF#OTC">LYSCF</a>) up 11.73% and 10.27% on Wednesday, respectively.
Photo courtesy: katz / Shutterstock.com
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</ul>

Commodities

AREC

LYSCF

Jim Cramer Says The Chinese 'Could Really Hurt Us' As Beijing Tightens Grip On Rare Earth Magnets: Warns Of Threat To 'Everything' From Autos To Data Centers

Wall Street&#8217;s recent rally slowed on Wednesday as investors reevaluated the economic outlook in light of weak job data and an unexpected contraction in the U.S. services sector. The major indexes showed mixed performance: the Dow Jones Industrial Average slipped 0.2% to 42,427.74, the S&amp;P 500 inched up 0.01% to 5,970.81, and the Nasdaq gained 0.3% to close at 19,460.49. These are the top stocks that gained the attention of retail traders and investors throughout the day:
Mullen Automotive Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MULN#NASDAQ">MULN</a>)
Mullen Automotive&#8217;s stock skyrocketed by 198.70%, closing at $16.10. The stock reached an intraday high of $26.55 and a low of $5.10. In the after-hours trading the shares fell 18.01% to $13.20. The company announced <a href="https://www.benzinga.com/trading-ideas/movers/25/06/45780600/mullen-stock-is-soaring-higher-wednesday-whats-going-on">new securities purchase agreements</a> following a 1-for-100 reverse stock split, which significantly boosted its stock price. 
Applied Digital Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLD#NASDAQ">APLD</a>)
Applied Digital&#8217;s stock surged by 29.27%, closing at $13.25. The stock reached an intraday high of $13.47 and a low of $10.46, with a 52-week high of $13.47 and a low of $3.01. In the after-hours trading, the stock rose 9.4% to $14.50. Applied Digital and CoreWeave have been in the spotlight <a href="https://www.benzinga.com/trading-ideas/movers/25/06/45774434/coreweave-applied-digital-shares-are-trending-wednesday-whats-going-on">due to their recent data center deal</a>, which has driven investor interest and pushed the stock to new highs.
MongoDB Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDB#NASDAQ">MDB</a>)
MongoDB saw a 3.09% increase, closing at $199.73. The stock hit an intraday high of $201.79 and a low of $193.87, with a 52-week range of $370 to $140.94. The shares rose 14.6% to $228.89 in the after-hours trading. The company reported <a href="https://www.benzinga.com/markets/earnings/25/06/45781429/mongodb-q1-earnings-revenue-eps-beat-expectations-company-raises-fy26-guidance-adds-800-million-to-its-buyback">better-than-expected first-quarter earnings</a>, with revenue of $549.01 million and adjusted earnings of $1 per share. MongoDB also raised its fiscal 2026 guidance and announced an $800 million buyback, boosting investor confidence. 
Netflix Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>)
Netflix&#8217;s stock rose by 1.78%, closing at $1,239.66. The stock&#8217;s intraday high was $1,242.56, with a low of $1,219.88, and a 52-week range of $1,242.56 to $588.43. Recent data highlighted Netflix as a <a href="https://www.benzinga.com/news/entertainment/25/05/45705091/netflix-paramount-dominate-new-top-series-viewers-how-streaming-connection-with-different-age-demographics-helps">leader in streaming viewership</a>, alongside Paramount in broadcast television, which has contributed to its stock&#8217;s positive performance.
Tesla Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s stock dropped by 3.55%, closing at $332.05. The stock&#8217;s intraday high was $345.60, with a low of $327.33, and a 52-week range of $488.54 to $167.42. Reports indicated a <a href="https://www.benzinga.com/trading-ideas/movers/25/06/45777555/tesla-stock-is-sliding-wednesday-heres-why">decline in sales</a> for Tesla&#8217;s China-made vehicles, with May deliveries for the Model 3 and Model Y down 15% year-over-year. This continued trend of declining sales has impacted the stock of the Elon Musk-led company negatively. 
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="761" height="102" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04221409/Screenshot-2025-06-05-at-11.13.43.png" alt="" class="wp-image-939046" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04221409/Screenshot-2025-06-05-at-11.13.43.png 761w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04221409/Screenshot-2025-06-05-at-11.13.43-300x40.png 300w" sizes="(max-width: 761px) 100vw, 761px" /></a></figure>
Benzinga Edge Stock Rankings indicate Netflix has good Short, Medium and Long term Price Trends. Find out <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">how it scores</a> on other metrics.
Prepare for the day&#8217;s trading&nbsp;<a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a>&nbsp;by Benzinga.
Photo Courtesy: Billion Photos on Shutterstock.com
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

APLD

MULN

NFLX

Mullen Automotive, Applied Digital, MongoDB, Netflix, Tesla: Why These 5 Stocks Are On Investors' Radars Today

On Wednesday, Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) lost its legal effort to prevent longtime executive Justin Connolly from <a href="https://www.benzinga.com/news/legal/25/05/45579755/disney-sues-youtube-to-block-hiring-of-former-espn-executive-justin-connolly-amid-sports-streaming-turf-war">leaving the company</a> to join YouTube, a subsidiary of 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.
What Happened: Los Angeles Superior Court Judge James Chalfant denied Disney's request for a preliminary injunction and temporary restraining order, which aimed to stop Connolly from transitioning to YouTube, reported Reuters.
Disney had filed a lawsuit last month, claiming Connolly's departure breached his contract and could lead to unfair competition. The company sought to block his new role at YouTube.
"We are disappointed in today&#8217;s ruling, but will continue to pursue our legal remedies," a Disney spokesperson told the publication.
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.
YouTube did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga's</a> request for comments.
Why It's Important: Connolly, who spent more than 20 years at ESPN and Disney, stepped down last month from his role as head of platform distribution.
Previously, Reuters cited sources familiar with the matter stating that Connolly will manage partnerships with major media companies and spearhead the expansion of YouTube&#8217;s live sports offerings.
Price Movement: On Wednesday, Alphabet Inc.&#8217;s Class A shares rose by 1.13%, while Class C shares were up 1%. In contrast, Disney&#8217;s stock dipped by 0.097%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Benzinga&#8217;s Edge Stock Rankings highlight Disney&#8217;s strong price momentum across short, medium and long-term periods.<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"> Additional detailed metrics can be found here</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04213355/Screenshot-2025-06-05-at-7.00.58%E2%80%AFAM.png" alt="" class="wp-image-939005" /></a></figure>
Photo Courtesy: Bankrx on Shutterstock.com
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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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.

GOOG

GOOGL

Disney Loses Legal Battle To Block Executive Justin Connolly's Move To Rival YouTube

Tesla and SpaceX CEO Elon Musk signaled agreement with Coinbase CEO Brian Armstrong's warning Wednesday that government overspending could lead to Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) replacing the dollar as the reserve currency.
What happened: Armstrong was responding to a post by World of Statistics that highlighted the alarming rise of U.S. federal debt in the last few years. The debt has ballooned to $36.9 trillion in 2025.
"If the electorate doesn&#8217;t hold Congress accountable to reducing the deficit and start paying down the debt, Bitcoin is going to take over as reserve currency," Armstrong said.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f1fa;&#x1f1f8;
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1930145154234564850?ref_src=twsrc%5Etfw">June 4, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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The cryptocurrency mogul said that while he loves Bitcoin, he also desired a &#8220;strong America&#8221; that is fiscally responsible.
Musk responded to Armstrong's arguments with a U.S. flag emoji, indicating an agreement.
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45740537/forget-dollars-willy-woo-says-bitcoin-will-be-priced-against-global-gdp-gold-used-to-be-that-money-btc-is-the-challenger">Forget Dollars: Willy Woo Says Bitcoin Will Be Priced Against Global GDP — &#8216;Gold Used To Be That Money, BTC Is The Challenger&#8217;</a>
Why It Matters: Musk has <a href="https://www.benzinga.com/news/politics/25/06/45757029/elon-musk-slams-congressional-spending-bill-as-a-disgusting-abomination">lashed out at the latest congressional spending bill</a>, describing it as a &#8220;disgusting abomination.&#8221; The White House has <a href="https://www.benzinga.com/news/politics/25/06/45764422/white-house-says-trump-is-sticking-to-the-big-beautiful-bill-despite-elon-musks-sharp-criticism-it-doesnt-change-the-presidents-opinion">dismissed </a>the criticism, stating that the bill does not contribute to the deficit.
The House passed the $3.8 trillion tax-and-spending package, which President Donald Trump calls the "big, beautiful bill." While it promises an immediate economic boost through wide tax cuts and higher defense spending, market <a href="https://www.benzinga.com/news/25/05/45581297/trumps-big-beautiful-3-8-trillion-bill-squeaks-through-house-expert-says-it-will-boost-the-economy-in-the-short-term-but-worsen-deficits">analysts warn</a> of serious long-term fiscal ramifications.
Entrepreneur and investor&nbsp;Anthony Pompliano stated last month that <a href="https://www.benzinga.com/25/05/45582934/bitcoins-surge-anthony-pompliano-points-to-debt-inflation-concerns">concerns about debt and inflation</a> could fuel Bitcoin&#8217;s growth.
Price Action:&nbsp; At the time of writing, BTC was exchanging hands at $105,125.46, down 0.47% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Photo Courtesy: Shutterstock/Joshua Sukoff
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</ul>

Elon Musk, Who Called Trump's 'One Big Beautiful Bill' A 'Disgusting Abomination,' Responds To Coinbase CEO's Warning That Bitcoin Could Replace Dollar If Congress Isn't Held Accountable

In a 2002 MIT presentation, Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) founder Jeff Bezos discussed the surprising success of allowing customers to cancel their own orders.
What Happened: During the talk, Bezos said that to foster innovation, companies need to make experiments affordable. If experiments are expensive, only a few will be able to run them, limiting the potential for innovation.
He gave the example of how Amazon uses A/B testing (a way of comparing two versions of something to see which performs better) as a low-cost way to experiment with new ideas like personalization algorithms. This helps test ideas without huge investments.
The Amazon founder also pointed out that predicting how consumers will behave is tough and can often lead to wasted effort. Rather than debating and speculating, it&#8217;s more effective to try something and observe the outcome.
See Also: <a href="https://www.benzinga.com/news/24/07/39666069/jeff-bezos-described-his-unique-life-philosophy-which-follows-a-dorky-framework-revolving-regret-min">Jeff Bezos Described His Unique Life Philosophy Which Follows A Dorky Framework Revolving &#8216;Regret Minimization&#8217;</a>
Amazon did this with features like self-service tools for customers to cancel orders.
Despite internal concerns, Bezos defended the move, saying, "If you give people more control over their environment&#8230; maybe they'll order more."
This bold decision was based on the theory that empowering customers would build trust and drive increased sales. "We couldn't really do a low-cost experiment&#8230; so we just went ahead and built it," Bezos explained.
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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Why It&#8217;s Important: Amazon currently has a market cap of $2.2 trillion, making it the fourth most valuable company in the world.
Last month, Amazon <a href="https://www.benzinga.com/general/entertainment/25/05/45151230/amazon-q1-earnings-double-beat-q2-guidance-ceo-focuses-on-making-customers-lives-easier-and-better">reported first-quarter net sales</a> of $155.7 billion, marking a 9% year-over-year increase and surpassing the Street consensus estimate of $155.04 billion.
Over the past five years, Amazon shares have gained 66.92%, though they remain down 5.90% year-to-date, according to <a href="http://pro.benzinga.com/">Benzinga Pro</a>.
Amazon currently holds a consensus price target of $248.80 based on the ratings of 41 analysts. The highest target, $305, was issued by Tigress Financial on May 6, 2025, while the lowest, $195, came from Raymond James on April 21, 2025.
The three latest analyst ratings by JP Morgan, BofA Securities and Tigress Financial gave it an average price target of $264.33, suggesting a potential upside of 27.64%.
Benzinga's Edge Stock Rankings also highlight Amazon&#8217;s strong price momentum across short-, medium-, and long-term periods. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">More detailed performance metrics can be found here</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04204921/Screenshot-2025-06-05-at-6.14.58%E2%80%AFAM.png" alt="" class="wp-image-938959" /></a></figure>
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Photo Courtesy: Lev Radin on Shutterstock.com
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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Jeff Bezos Let Customers Cancel Their Own Amazon Orders And It Paid Off Big: 'If You Give People More Control…Maybe They'll Order More'

On Wednesday, Cathie Wood&#8217;s Ark Invest made a significant move by selling a substantial number of shares in Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>). This decision comes amidst a brewing controversy surrounding the company&#8217;s alleged involvement in a surveillance program.
The Palantir Trade
Ark Invest&#8217;s flagship fund, ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>), offloaded 40,035 shares of the Alex Karp-led company. Based on the closing price of the day — $130.01, the value of this trade is estimated to be $5.2 million.
Palantir has recently been in the news due to allegations of its involvement in a surveillance program. The company has been accused of aiding the Trump administration in <a href="https://www.benzinga.com/markets/equities/25/06/45715850/trump-administration-silently-employs-palantir-to-gather-personal-data-of-each-american-raising-privacy-data-misuse-concerns-report">creating detailed profiles</a> of American citizens using federal data, as reported by Benzinga. Palantir has <a href="https://www.benzinga.com/markets/tech/25/06/45764231/palantir-says-it-doesnt-unlawfully-spy-on-americans-calls-report-alleging-use-by-trump-administration-for-surveillance-blatantly-untrue">denied these allegations</a>, stating that they do not &#8220;unlawfully&#8221; spy on Americans.
Notably, Palantir remains one of Ark&#8217;s top 10 holdings, making up 5.3% of the portfolio by weight. The market value of the PLTR holdings stands at $300.66 million, according to Ark data.
Other Key Trades:
<ul class="wp-block-list">
<li>Ark Invest sold 149,211 shares of Roblox Corp (RBLX) from its ARKK fund.</li>
<li>Ark Invest bought 99,637 shares of Guardant Health Inc. (GH) for its ARKK fund.</li>
<li>Ark Invest also bought 95,017 shares of Veracyte Inc. (VCYT) for its ARKK fund.</li>
</ul>
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="757" height="105" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04211215/Screenshot-2025-06-05-at-10.11.58.png" alt="" class="wp-image-938982" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04211215/Screenshot-2025-06-05-at-10.11.58.png 757w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04211215/Screenshot-2025-06-05-at-10.11.58-300x42.png 300w" sizes="(max-width: 757px) 100vw, 757px" /></a></figure>
Benzinga's Edge Stock Rankings indicate Palantir has positive Short, Medium and Long Price Trends. Here is how the stock ranks on <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">other important metrics</a>.
Photo Courtesy: ChrisStock82 on Shutterstock.com
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

ETFs

ARKK

PLTR

Cathie Wood Dumps Another $5.2 Million Of Palantir Stock Amid Trump Administration-Linked Surveillance Controversy

<a href="https://www.benzinga.com/25/05/45519270/nvidia-and-google-back-ai21-labs-in-300m-series-d-to-build-proprietary-llms-challenging-openai-and-anthropic-in-enterprise-ai">Anthropic</a>, the artificial intelligence startup supported by Google-parent Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>, GOOGL)) and Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>),<a href="https://www.anthropic.com/news/claude-4"> announced</a> Thursday that it introduced Claude Opus 4, a new model capable of coding autonomously for hours at a time.
Anthropic is calling the release a major step forward for developer-focused AI, highlighting Claude Opus 4's ability to reason and execute autonomously for several hours, an advancement it says dramatically expands what <a href="https://www.benzinga.com/25/05/45618210/y-combinator-startup-firecrawl-offers-1m-for-ai-agents-that-blog-code-and-do-customer-support-without-sleeping">AI agents</a> can now accomplish.
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<h2 class="wp-block-heading">High-End Endurance Meets High-Speed Intelligence</h2>
According to the company, the model recently completed a near-seven-hour uninterrupted coding session with e-commerce giant Rakuten, showcasing levels of performance far beyond Anthropic's previous releases.
While the prior generation, Claude 3.7 Sonnet, could code for roughly 45 minutes, Opus 4 sustained high-functioning output for over six hours, enabling it to assist in complex software builds and long-form projects in real time,<a href="https://www.reuters.com/business/startup-anthropic-says-its-new-ai-model-can-code-hours-time-2025-05-22/"> Reuters</a> reports.
Anthropic chief product officer Mike Krieger described in an interview with Reuters that the launch as a turning point. He said that for AI to significantly boost economic productivity, it must be capable of sustained, autonomous execution, something Opus 4 is now delivering at scale.
Trending: Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wideradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation</a>.
The company also unveiled Claude Sonnet 4, a more compact and cost-effective sibling to Opus. Both models were designed to perform a wide range of tasks, including web search, step-by-step reasoning, and long-form dialogue generation. But it's Opus 4's durability and coherence during marathon coding sessions that have drawn the most attention.
Anthropic told<a href="https://www.technologyreview.com/2025/05/22/1117338/anthropics-new-hybrid-ai-model-can-work-on-tasks-autonomously-for-hours-at-a-time/"> MIT Technology Review</a> that it used Opus 4 to autonomously play a 24-hour Pokémon game, which is another demonstration of the model's ability to operate in extended timelines without breakdowns in logic or consistency.
<h2 class="wp-block-heading">Anthropic Launches Claude Code For Global Developer Integration With GitHub And JetBrains</h2>
To make its capabilities more accessible, Anthropic also announced the general release of Claude Code, a development tool designed for engineers. First previewed in February, the tool allows users to generate, review, and troubleshoot code directly with Claude models, including Opus 4 and Sonnet 4. Developers can now integrate the models into real workflows, from full-stack application design to bug fixes and documentation, Reuters says.
According to Anthropic, Claude Code is now generally available with full integration into developer environments like VS Code, JetBrains, and GitHub. By expanding access to its software development kit and releasing native extensions, the company is positioning the tool for wider use across developer teams and software workflows.
See Also: Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.
<h2 class="wp-block-heading">Google, Amazon, And Microsoft Join The AI Arms Race</h2>
Anthropic's advancements arrive amid a flurry of competitive activity. According to<a href="https://www.reuters.com/business/microsoft-add-anthropics-ai-coding-agent-its-github-service-2025-05-20/"> Reuters</a>, Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) announced during its Build 2025 conference recently that it is preparing to integrate Anthropic's coding agent into its GitHub Copilot ecosystem, giving developers a choice of language models.
With heavyweight backers like Google and Amazon, Anthropic is emerging as a key player in the next generation of generative AI. Its focus on building models that operate coherently over time positions it well for both developer and enterprise markets.
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Image: Shutterstock

Anthropic's Claude Opus 4 AI, Backed By Google And Amazon, Codes Nonstop For 7 Hours, Redefining Developer Productivity

A federal judge has ordered, on Wednesday, that a group of Venezuelans, deported to a Salvadoran prison, must be provided with a legal channel to challenge the accusations made by the Trump administration that they are gang members.
What Happened: U.S. District Judge James Boasberg did not lay out the specific measures the administration should take, but mandated them to propose a plan within a week, <a href="https://thehill.com/regulation/court-battles/5333555-venezuelans-deported-prison-judge-ruling/">reported</a> The Hill. While acknowledging potential diplomatic or national-security implications, Boasberg stressed the constitutional obligation of the administration to offer a remedy for the perceived injustice.
The Trump administration has maintained that they cannot&nbsp;secure the return of anyone&nbsp;detained&nbsp;at CECOT, a notorious Salvadoran&nbsp;prison. Salvadoran President&nbsp;Nayib Bukele&nbsp;has also refused to repatriate any mistakenly deported individual&nbsp;sent to the facility under&nbsp;regular immigration authorities.
Boasberg&#8217;s ruling was influenced by the lack of transparency and due process afforded to the Venezuelans during their deportation. The judge compared the situation to a scene from Franz Kafka&#8217;s novel &#8220;The Trial,&#8221; where the deported Venezuelans were given scant information about their impending transfer.
The Venezuelans were deported on March 15, shortly after President Donald Trump invoked the Alien Enemies Act, a law previously used only during declared wars. Boasberg pointed to evidence suggesting that many of the deported Venezuelans have no gang affiliation and are languishing in a foreign prison based on flimsy accusations.
The ruling is part of a larger legal battle involving the Trump administration&#8217;s&nbsp;use of the Alien Enemies&nbsp;Act, which has resulted in&nbsp;more than a dozen lawsuits&nbsp;across the country.
See Next: <a href="https://benzinga.com/news/politics/25/06/45766354/bernie-sanders-warns-saying-trump-is-dangerous-is-not-enough-vows-to-take-on-billionaires-fight-for" target="_blank" rel="noreferrer noopener">Bernie Sanders Warns &#8216;Saying Trump Is Dangerous Is Not Enough,&#8217; Vows To &#8216;Take On&#8217; Billionaires, Fight For Working People And Resist Movement Towards &#8216;Authoritarianism&#8217;</a>
Why It Matters: This ruling comes amidst a series of legal battles and policy changes that have affected Venezuelans in the US. 
In February 2025, the Trump administration <a href="https://www.benzinga.com/news/legal/25/02/43424235/300000-venezuelans-lose-protected-immigration-status-trump-official-says-program-is-contrary-to-the-national-interest">rescinded</a> Temporary Protected Status for over 300,000 Venezuelans, leaving them vulnerable to deportation. 
Previously, Judge Boasberg has criticized the administration for <a href="https://www.benzinga.com/news/legal/25/02/43424235/300000-venezuelans-lose-protected-immigration-status-trump-official-says-program-is-contrary-to-the-national-interest">not providing sufficient details</a> about Venezuelan deportation flights. 
Meanwhile, in April, Salvadoran President Nayib Bukele proposed a prisoner swap with Venezuela, <a href="https://www.benzinga.com/25/04/44891607/el-salvadors-nayib-bukele-proposes-swapping-us-deported-venezuelans-with-nicolas-maduros-political-prisoners-venezuelan-attorney-general-calls-detention-arbitrary">aiming to repatriate</a> Venezuelan deportees from the U.S. 
Photo Courtesy: Joey Sussman on Shutterstock.com
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

General

Venezuelans Deported By Trump Administration Under Alien Enemy Act  Must Be Allowed Legal Challenge To Contest Gang Accusations, Judge Calls Situation Kafkaesque

A Reddit post from a self-described seasoned manager sparked a wave of frustration last week after they complained about a top employee who no longer seems as engaged at work.&nbsp;
The post, shared in the <a href="https://www.reddit.com/r/managers/comments/1kw0cm0/star_performer_losing_interest_in_the_job/">r/managers</a> subreddit, described the &#8220;star performer&#8221; as showing a &#8220;laid back attitude,&#8221; arriving late to meetings, and needing follow-ups to complete tasks. &#8220;They try to convince me that they are looking for a promotion but I don't see that in action,&#8221; the manager wrote.
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<h2 class="wp-block-heading">People Say the Manager Missed The Bigger Picture</h2>
What caught the ire of many was the manager&#8217;s comment: &#8220;I have visibility of their calendar and they aren't overworked at all.&#8221; Dozens of commenters saw this as out-of-touch and dismissive.
One person wrote, &#8220;A calendar only shows scheduled meetings. If that is their job, to sit in meetings and do nothing else, then OP is right about them not being heavily loaded.&#8221;
Another put it more bluntly: &#8220;WTF is that about? Non-meeting time is when people get sh&#x2A;t done. You have no idea how busy he is.&#8221;
The manager said they were pushing for a promotion for the employee but were reconsidering after noticing the drop in enthusiasm. That logic didn't sit well either. &#8220;You called them your &#8216;star performer&#8217; but still expect them to do more for a promotion?!?!&#8221; one person asked.
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Many others chimed in with personal stories of being high performers, only to be passed over, underpaid, or <a href="https://www.benzinga.com/real-estate/24/11/41811635/rent-soars-pay-lags-why-millions-are-working-50-hours-just-to-afford-housing-according-to-new-report">burdened with extra work</a> while coworkers did far less: &#8220;My reward for a job well done was&#8230; a 3% raise, and more work.&#8221;&nbsp;
Another summed it up this way: &#8220;Star performers become tired of being star performers when they're over-managed and underpaid.&#8221;
Another wrote, &#8220;This is what happened in my last role. When I got another job and gave notice they tried to match the offer. No go.&#8221;
Several said the worker in question is likely already <a href="https://www.benzinga.com/25/02/43425534/linkedin-and-indeed-are-finally-holding-employers-accountable-new-ai-tools-will-show-job-seekers-their-chances-of-getting-a-response">job hunting</a>. &#8220;You&#8217;re going to lose this employee,&#8221; one person warned. Others echoed that it&#8217;s probably too late to fix the situation without a significant change: &#8220;You should have taken care of the star while they were shining. They are now burnt out and [unrewarded].&#8221;
See Also: Many are using retirement income calculators to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a>
The thread also surfaced common frustrations around workplace inequality. One user said, &#8220;I perform minor miracles at my job, and not a word of thanks&#8230; Somebody else documents a simple process, and they're treated like the Second Coming.&#8221;
As for the solution, many advised the manager to talk directly to the employee, figure out what they want, and act fast. Otherwise, they argued, the company is set to lose a valuable employee who simply got tired of giving 110% for a 3% raise.
Read Next: The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?
Image: Shutterstock

Manager Says Their 'Star Performer' Seems Disengaged. Saying, They 'Aren't Overworked At All' Didn't Sit Well With People—'You Have No Idea'

Franco-Nevada (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FNV#NYSE">FNV</a>) has outperformed the market over the past 10 years by 2.79% on an annualized basis producing an average annual return of 13.87%. Currently, Franco-Nevada has a market capitalization of $34.09 billion. 
Buying $100 In FNV: If an investor had bought $100 of FNV stock 10 years ago, it would be worth $356.92 today based on a price of $177.00 for FNV at the time of writing.
<h3>Franco-Nevada's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1749080713_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $100 Invested In Franco-Nevada 10 Years Ago Would Be Worth Today

Intercontinental Exchange (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>) has outperformed the market over the past 15 years by 2.42% on an annualized basis producing an average annual return of 14.41%. Currently, Intercontinental Exchange has a market capitalization of $102.92 billion. 
Buying $100 In ICE: If an investor had bought $100 of ICE stock 15 years ago, it would be worth $780.32 today based on a price of $179.13 for ICE at the time of writing.
<h3>Intercontinental Exchange's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1749079813_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Intercontinental Exchange Stock In The Last 15 Years

SS&amp;C Technologies Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SSNC#NASDAQ">SSNC</a>) has outperformed the market over the past 15 years by 9.91% on an annualized basis producing an average annual return of 21.89%. Currently, SS&amp;C Technologies Hldgs has a market capitalization of $19.80 billion. 
Buying $1000 In SSNC: If an investor had bought $1000 of SSNC stock 15 years ago, it would be worth $19,699.32 today based on a price of $79.93 for SSNC at the time of writing.
<h3>SS&amp;C Technologies Hldgs's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1749078912_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

SSNC

$1000 Invested In This Stock 15 Years Ago Would Be Worth This Much Today

A man called into &#8220;<a href="https://x.com/DaveRamsey/status/1928102099130208337">The Ramsey Show</a>&#8221; with a confession: he&#8217;s been married for five years, and his wife has no idea that they&#8217;re secretly worth millions of dollars.
&#8220;I'm the saver and she's the spender,&#8221; the caller explained. &#8220;I have been working very hard, working my job and my business just to grow to where we are. And I am not sure whether I should ever disclose our net worth to her because I do not know how she's going to react.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&quot;Should I tell my wife we&#39;re worth millions?&quot; <a href="https://t.co/2HX7hdBlRT">pic.twitter.com/2HX7hdBlRT</a>
&mdash; Dave Ramsey (@DaveRamsey) <a href="https://twitter.com/DaveRamsey/status/1928102099130208337?ref_src=twsrc%5Etfw">May 29, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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<h2 class="wp-block-heading">Ramsey&#8217;s Response</h2>
Dave Ramsey, a personal finance expert and radio host known for his no-nonsense advice, was stunned and immediately asked, &#8220;Are you from another culture?&#8221; After the caller explained he was born in South Korea but raised in San Jose, California, by immigrant parents, Ramsey replied, &#8220;Because in Anglo-America, what you just described, as you probably realize, is pretty whacked.&#8221;
The caller insisted that he handles all the finances, and that keeping their wealth a secret is tied to his wife's spending habits. Ramsey wasn't buying it.
&#8220;You've been married to her for five years and sleeping with her for five years. She didn't know you got any money. <a href="https://www.benzinga.com/personal-finance/24/12/42420115/nondisclosure-is-lying-says-dave-ramsey-advising-couples-to-fully-disclose-finances-before-tying-the-knot">That's deception</a>,&#8221; Ramsey said bluntly.
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Even as the caller tried to frame the issue around different money personalities—he's a minimalist, she's a free spirit—Ramsey brought it back to what he saw as the real problem: lying.
&#8220;Honey, you're not listening. You keep deflecting every time I bring this at you. You have deceived your wife actively. She's not going to be cool with that. You hear that?&#8221;
The caller admitted he feared his wife would be upset and possibly scared by the news. Ramsey said that fear is probably why he kept the secret in the first place.
&#8220;You're scared she's going to go spend all your money, which is the reason you lied to her in the first place,&#8221; he said.
Ramsey emphasized that a <a href="https://www.benzinga.com/personal-finance/24/12/42514449/dave-ramsey-says-his-wife-wanted-to-leave-him-but-she-didnt-have-a-car-hitting-rock-bottom-financially-almost-ended-his-marriage">strong marriage is worth more than money</a>. &#8220;I value a quality marriage and relationship going into my old age because we've now been married almost 43 years. I value that more than money. You don't. So I'm having trouble connecting with you on this.&#8221;
See Also: <a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.
Toward the end of the call, Ramsey acknowledged the cultural influence but didn't let the caller off the hook.
&#8220;I'm just the older guy sitting over here going, okay, you brought some culture into this where the guy's in charge and the lady doesn't have any say or any vote, especially if she's the spender. And so all of that combined with your nerd-like paranoia has led you to this deception.&#8221;
Ramsey&#8217;s final warning was that this is not going to end well. The longer he puts this off, the worse this is going to get. &#8220;This is a weird thing you've done and you need to own that.&#8221;
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Image: Shutterstock

Personal Finance

I'm Afraid How My Wife Will React If I Tell Her We're Secretly Wealthy, Says A Dave Ramsey Caller. The Response? That's 'Pretty Whacked'

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This article was generated by Benzinga's automated content engine and reviewed by an editor.

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