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On Wednesday, Senator Elizabeth Warren (D-Mass.) sharply criticized President Donald Trump&#8217;s &#8220;One Big Beautiful Bill Act,&#8221; warning that it could <a href="https://www.benzinga.com/25/05/45558613/house-advances-trumps-sweeping-one-big-beautiful-bill-after-key-medicaid-tax-and-border-security-changes">strip health coverage from millions</a> of Americans and add $2.4 trillion to the national debt.
What Happened: Taking to social media, Warren condemned the bill, stating that it would &#8220;rip away health care from 16 million Americans&#8221; and <a href="https://www.benzinga.com/markets/25/05/45559059/trumps-big-beautiful-bill-could-be-3-1-trillion-jackpot-for-affluent-americans-like-elon-musk-and-jeff-bezos-report">disproportionately benefit billionaires</a> like Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) founder Jeff Bezos and Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO Mark Zuckerberg.
Warren was referring to the Congressional Budget Office's estimates that these changes would result in 16 million people losing health coverage by 2034.
&#8220;The bill will rip health care away from millions of mamas and babies, all so that Jeff Bezos can buy a third yacht, all so that Mark Zuckerberg can buy another Hawaiian island. It is a gut punch to regular people just so that billionaires can get even richer,&#8221; she stated.
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>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">A NEW REPORT just revealed that the Big Beautiful Bill is even worse than we thought. It&#39;ll rip away health care from 16 MILLION Americans, just so Jeff Bezos can buy a third yacht. <a href="https://t.co/hLsr5zgYUe">pic.twitter.com/hLsr5zgYUe</a>
&mdash; Elizabeth Warren (@SenWarren) <a href="https://twitter.com/SenWarren/status/1930383925311869186?ref_src=twsrc%5Etfw">June 4, 2025</a></blockquote>
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Why It&#8217;s Important: The bill, which passed the House in May, includes provisions that would cut Medicaid eligibility for millions, impose new work requirements and make health insurance more expensive for many low-income Americans, <a href="https://www.cbsnews.com/news/trumps-one-big-beautiful-bill-gop-budget-obamacare/">reported</a> CBS.
The bill, pushed by Republicans, has been described by critics as a stealth repeal of the Affordable Care Act, with provisions that would reduce Medicaid expansion and impose stricter requirements on ACA marketplace enrollees.
Supporters argue that the bill aims to reduce waste in government programs, but opponents contend it undermines the gains made under the ACA, the report noted.
Earlier on Tuesday, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk slammed what he called a "massive, outrageous, pork-filled" spending bill, labeling it a "<a href="https://www.benzinga.com/news/politics/25/06/45757029/elon-musk-slams-congressional-spending-bill-as-a-disgusting-abomination">disgusting abomination</a>." Warren said Musk's description of the bill was "spot on."
Musk, the world's richest individual with a net worth of $368 billion, faced criticism over a possible conflict of interest after he assumed the role of head of the Department of Government Efficiency (DOGE). The billionaire <a href="https://www.benzinga.com/news/politics/25/05/45708460/elon-musks-175-billion-in-doge-cut-falls-far-short-of-the-billionaires-goal-expect-to-achieve-over-time-the-trillion-dollars-of-savings-says-tesla-ceo">exited the role last month</a>.
Meanwhile, Bezos and Mark Zuckerberg's Meta have each <a href="https://www.benzinga.com/news/politics/25/05/45708460/elon-musks-175-billion-in-doge-cut-falls-far-short-of-the-billionaires-goal-expect-to-achieve-over-time-the-trillion-dollars-of-savings-says-tesla-ceo">donated $1 million</a> to Trump's Jan. 20 inauguration. Despite prior criticism from Trump toward the Washington Post and for censoring right-wing voices, both billionaires now appear to be working toward being in the good books of the President.
Benzinga&#8217;s Edge Stock Rankings also emphasize Amazon's robust price momentum over the short, medium and long term. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Additional performance details 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/2025/06/05004903/Screenshot-2025-06-05-at-6.14.58%E2%80%AFAM-1.png" alt="" class="wp-image-939146" /></a></figure>
Photo Courtesy: Shutterstock/Sheila Fitzgerald
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/24/05/38955435/jeff-bezos-reveals-how-customer-feedback-led-to-amazons-sell-everything-strategy-i-wish-you-sold-win" target="_blank" rel="noreferrer noopener">Jeff Bezos Reveals How Customer Feedback Led To Amazon's ‘Sell Everything' Strategy: ‘I Wish You Sold Windshield Wiper Blades…'</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.

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Elizabeth Warren Says Trump's 'One Big Beautiful Bill' Will 'Rip Away' Health Coverage From 16 million Americans — Just So Jeff Bezos Can Buy A Third Yacht

Macro Economic Events

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Economics

Reported Earlier, China Caixin Services Purchasing Managers Index For May 51.1 Vs. 51.0 Est.; 50.7 Prior

Reported Earlier, Australia Trade Balance For April 5.413B Vs. 5.960B Est.; 6.892B (Revised) Prior

The CNN Money Fear and Greed index showed some decline in the overall market sentiment, while the index moved to the &#8220;Neutral&#8221; zone on Wednesday.
U.S. stocks settled mixed on Wednesday, with the Dow Jones index snapping a four-session winning streak.
Yext Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YEXT#NYSE">YEXT</a>) shares jumped 32% on Wednesday after the company raised its FY26 adjusted EPS guidance above estimates. Dollar Tree Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) shares dipped over 8% after the company posted first-quarter results.
On the economic data front, the ISM services PMI dipped to 49.9 in May versus 51.6 in the previous month and also missed market estimates of 52. U.S. private businesses added 37K workers to their payrolls during May, versus a revised 60K gain in the previous month.
Most sectors on the S&amp;P 500 closed on a positive note, with communication services, materials and real estate stocks recording the biggest gains on Wednesday. However, energy and utilities stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed lower by around 92 points to 42,427.74 on Wednesday. The S&amp;P 500 gained 0.01% to 5,970.81, while the Nasdaq Composite climbed 0.32% to 19,460.49 during Wednesday's session.
Investors are awaiting earnings results from Ciena Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIEN#NYSE">CIEN</a>), The Toro Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTC#NYSE">TTC</a>) and Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 54.3, the index moved to the &#8220;Neutral&#8221; zone on Wednesday, versus a prior reading of 56.1.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
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<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/06/45767953/jim-cramer-arrowhead-pharmaceuticals-doesnt-have-the-horses">Jim Cramer: Arrowhead Pharmaceuticals Doesn&#8217;t &#8216;Have The Horses&#8217;</a> </li>
</ul>
Photo courtesy: Shutterstock

Markets

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CIEN

DLTR

YEXT

Dow Snaps 4-Session Win Amid Weak Economic Data: Investor Sentiment Declines, Fear & Greed Index Moves To 'Neutral' Zone

CrowdStrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) announced a strategic collaboration on Tuesday that maps adversary naming conventions between both platforms, creating what CEO George Kurtz called a &#8220;Rosetta Stone&#8221; for cyber defenders worldwide.
What Happened: The partnership addresses a critical gap in threat intelligence by unifying how both companies identify and track cyber adversaries, enabling joint customers to better defend against attacks regardless of which nomenclature system they encounter.
&#8220;Through this Rosetta Stone collaboration, we unite defenders in knowing the adversary,&#8221; Kurtz said during CrowdStrike&#8217;s first quarter earnings call. &#8220;Together, we take the guesswork out of adversary attribution for the benefit of our joint customers and the entire market.&#8221;
The announcement comes as CrowdStrike positions itself for explosive growth in AI agent protection, with Kurtz noting that 96% of enterprises plan to expand AI agent usage within 12 months. Some companies target deploying over one billion production agents, dramatically expanding the attack surface cybersecurity firms must protect.
&#8220;Every AI agent represents a unique superhuman identity necessitating visibility, control, and protection,&#8221; Kurtz explained. &#8220;AI agents dramatically increase the size, severity, and speed of the enterprise attack surface.&#8221;
See Also: <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">Peter Schiff Backs Musk&#8217;s Furious Attack On Trump&#8217;s &#8216;Disgusting&#8217; Budget Bill, Slams GOP Hypocrisy: &#8216;So Glad &#8230; Hopefully Elon Can Persuade Trump To Veto It&#8217;</a>
Why It Matters: CrowdStrike reported strong first-quarter results with $1.1 billion total revenue, up 20% year-over-year, and $194 million in net new Annual Recurring Revenue. The company&#8217;s FalconFlex subscription model generated $3.2 billion in total deal value across 820+ accounts.
CFO Burt Podbere disclosed regulatory scrutiny, stating the company received DOJ and SEC information requests regarding &#8220;revenue recognition and reporting of ARR for certain transactions, the July 19, [2024] outage, and related matters.&#8221;
Price Action: CrowdStrike closed at $488.76 on Tuesday, up 2.00%. In pre-market trading on Wednesday, it fell 6.97% to $454.70. Year to date, the stock is up 40.72%.
According to Benzinga Edge Stock Rankings, CRWD shows strong momentum and modest growth. While the stock has a negative valuation, it maintains a positive price trend across short to long-term periods. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here to view the full breakdown</a>.
<figure class="wp-block-image aligncenter size-full is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="878" height="634" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04053053/image-48.png" alt="" class="wp-image-937912" style="width:482px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04053053/image-48.png 878w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04053053/image-48-300x217.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04053053/image-48-768x555.png 768w" sizes="(max-width: 878px) 100vw, 878px" /></a></figure>
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/06/45763037/marjorie-taylor-greene-says-shes-adamantly-opposed-to-trumps-big-beautiful-bill-over-this-ai-provision-i-would-have-voted-no-if-i-had-kn">Marjorie Taylor Greene Says She&#8217;s &#8216;Adamantly Opposed&#8217; To Trump&#8217;s &#8216;Big Beautiful&#8217; Bill Over This AI Provision: &#8216;I Would Have Voted NO If I Had Known This Was In There&#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. 
Photo: Michael Vi / Shutterstock

Equities

CRWD

MSFT

iShares Trust Barclays 20+ Year Treasury Bond Fund

CrowdStrike, Microsoft Partner To Create 'Rosetta Stone' To Help 'Defenders In Knowing The Adversary' Amid Rising AI Agent Deployment

With U.S. stock futures trading lower this morning on Thursday, some of the stocks that may grab investor focus today are as follows:
<ul class="wp-block-list">
<li>Wall Street expects Ciena Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIEN#NYSE">CIEN</a>) to report quarterly earnings at 52 cents per share on revenue of $1.09 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Ciena shares gained 2% to $85.58 in after-hours trading.</li>
<li>PVH Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PVH#NYSE">PVH</a>) posted upbeat earnings for the first quarter, but cut its fiscal 2026 adjusted EPS guidance from a range of $12.40 to $12.75 to a new range of $10.75 to $11, versus the $12.52 analyst estimate. PVH shares dipped 7.4% to $74.82 in the after-hours trading session.</li>
<li>Analysts expect The Toro Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTC#NYSE">TTC</a>) to report quarterly earnings of $1.39 per share on revenue of $1.35 billion. The company will release earnings before the markets open. Toro shares fell 0.8% to $75.00 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul class="wp-block-list">
<li>MongoDB Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDB#NASDAQ">MDB</a>) reported better-than-expected first-quarter financial results for fiscal 2026 after the market closed on Wednesday. MongoDB raised its outlook for fiscal 2026. The company said it now expects full-year revenue of $2.25 billion to $2.29 billion, up from prior guidance of $2.24 billion to $2.28 billion. MongoDB expects full-year adjusted earnings to be between $2.94 and $3.12 per share, up from a previous forecast of $2.44 to $2.62 per share. MongoDB shares jumped 14.6% to $228.89 in the after-hours trading session.</li>
<li>Analysts expect Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) to post quarterly earnings at $1.56 per share on revenue of $14.99 billion after the closing bell. Broadcom shares rose 0.1% to $261.21 in after-hours trading.</li>
</ul>
Check This Out:
<ul class="wp-block-list">
<li> <a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/06/45767953/jim-cramer-arrowhead-pharmaceuticals-doesnt-have-the-horses">Jim Cramer: Arrowhead Pharmaceuticals Doesn&#8217;t &#8216;Have The Horses&#8217;</a></li>
</ul>
Photo courtesy: Casimiro PT / Shutterstock.com

Pre-Market Outlook

Ciena, PVH And 3 Stocks To Watch Heading Into Thursday

Tech investor Chamath Palihapitiya suggested Wednesday that Ripple Labs or Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) acquiring Circle Internet Financial would be a &#8220;genius&#8221; move, given the potential value of the stablecoin market.
What Happened: Palihapitiya stated in an X post that the Circle, issuer of the world&#8217;s second-largest stablecoin USD Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>), could be a valuable acquisition for leading cryptocurrency companies. 
He believed that Circle, which is 25x oversubscribed for its initial public offering and valued at around $7 billion, could be worth much more in the future. &#8220;If someone can buy it&nbsp;for even $12-13 billion, that's a&nbsp;steal, imo, for what this&nbsp;business could be worth in&nbsp;20 years,&#8221; Palihapitiya added.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It would be genius for Ripple or Coinbase to buy Circle.&#x2A;&#x2A; It looks like Circle's IPO is 25x oversubscribed, valuing the company at around $7b. If someone can buy it for even $12-13b, that's a steal, imo, for what this business could be worth in 20 years. Circle has built the…
&mdash; Chamath Palihapitiya (@chamath) <a href="https://twitter.com/chamath/status/1930417399368691860?ref_src=twsrc%5Etfw">June 5, 2025</a></blockquote>
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Coinbase and Ripple didn&#8217;t immediately return Benzinga&#8217;s request for comment on this suggestion.
See Also:&nbsp;<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</a>
Palihapitiya also predicted a competition for stablecoin dominance among major companies like Stripe, Square (now Block, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xyz#NYSE">XYZ</a>), Ripple, and Coinbase. 
&#8220;The company that builds the most efficient infrastructure and sells it for cheapest: cost-plus (with a thin margin on top) will probably take this market,&#8221; he added.
Why It Matters: Palhapitiya&#8217;s observation comes after Circe priced its IPO at $31 per share, above the previously marketed range of $27 to $28 per share. The company will now offer 34 million shares for $31 each when it&nbsp;debuts on the New York Stock Exchange&nbsp;on Thursday under the ticker &#8220;CRCL&#8221;, raising about $1.05 billion.
Circle will finally go public after an unsuccessful attempt in 2021. The 2021 SPAC deal was abandoned due to regulatory delays and market turbulence caused by the&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/10/35445270/the-true-cost-of-the-ftx-collapse-how-much-did-sam-bankman-fried-really-make" target="_blank" rel="noreferrer noopener">collapse of crypto exchange</a>&nbsp;FTX.
Circle will join other cryptocurrency-related stocks like Coinbase and Block on Wall Street. Check out&nbsp;Benzinga Edge Stock Rankings&nbsp;score to see&nbsp;<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener">how these stocks rank</a>&nbsp;in various metrics like Momentum, Growth and Quality.
Photo Courtesy: Kathy Hutchins on Shutterstock.com
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://benzinga.com/markets/cryptocurrency/25/05/45448145/dogecoin-down-1-but-this-pattern-signals-a-breakout-is-imminent" target="_blank" rel="noreferrer noopener">Dogecoin Down 1% But This Pattern Signals A Breakout Is Imminent</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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Chamath Palihapitiya Says Circle IPO Valued At $7 Billion Means It's A 'Genius' Buy For Coinbase, Here's Why

President Donald Trump endorsed abolishing the federal debt limit, unexpectedly siding with long-time critic Sen. Elizabeth Warren (D-Mass.) as Congress races to keep the government from hitting its $37 trillion borrowing cap.
What Happened: Trump on Wednesday urged Congress to "entirely scrap" the nation's debt limit, echoing a call Warren issued last week.
The president said, in a Truth Social post, that leaving the cap in place hands "economic catastrophe" to politicians who weaponize every vote. Warren posted a similar message on May 30, warning that failure to act would "prevent an economic catastrophe."
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="555" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/05002432/trump-warren-1024x555.png" alt="" class="wp-image-939125" style="width:451px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/05002432/trump-warren-1024x555.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/05002432/trump-warren-300x163.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/05002432/trump-warren-768x416.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/05002432/trump-warren.png 1302w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Screenshot From President Donald Trump&#8217;s Truth Social Account
Treasury Secretary Scott Bessent has told lawmakers the government <a href="https://www.benzinga.com/markets/macro-economic-events/25/06/45715436/us-never-going-to-default-says-scott-bessent-dismissing-jamie-dimons-debt-crisis-warnings-for-his-entire-career">could exhaust</a> its borrowing authority by August, intensifying a partisan clash over Trump's 1,100-page tax-and-spending plan, which already includes a debt-limit increase. The Congressional Budget Office estimates that package would swell federal deficits by $2.4 trillion over 10 years — a <a href="https://www.benzinga.com/news/25/06/45740803/elizabeth-warren-agrees-with-trump-on-scrapping-debt-limit-but-blasts-4-trillion-hike-for-billionair">projection Warren blasted</a> even as she embraced Trump's call to kill the cap.
See also: <a href="https://www.benzinga.com/news/politics/25/06/45785484/trump-cant-demand-lower-rates-while-creating-inflation-with-tariffs-and-money-printing-says-ross-gerber-backs-feds-patience">Trump Can&#8217;t Demand Lower Rates While &#8216;Creating Inflation&#8217; With Tariffs And Money Printing, Says Ross Gerber — Backs Fed&#8217;s Patience</a>
Why It Matters: The unusual alignment between Trump and Warren follows years of barbs — Trump once mocked Warren as "Pocahontas" over her Native-American ancestry claims. At the same time, Warren has labeled his economic agenda "<a href="https://www.benzinga.com/cannabis/25/06/45715155/elizabeth-warren-calls-it-textbook-corruption-once-again-asks-for-probe-into-elon-musk-cashing-in-on-trump-tariffs">textbook corruption</a>." Their latest spat flared again on Tuesday when Warren warned Trump that his &#8220;One Big Beautiful Bill&#8221; could <a href="https://www.benzinga.com/news/politics/25/06/45764421/elizabeth-warren-warns-ai-provision-in-trumps-big-beautiful-bill-could-enable-rent-hikes-this-policy-violates-the-senates-budget-rules">fuel rising rents</a> and violate Senate procedural rules.
While Trump and Warren now agree on abolishing the limit, they diverge on his broader package. Warren argues it favors the wealthy and piles on debt, citing CBO data. On the other hand, Trump insists the measure delivers growth via tax relief, spending trims, and border security funding.
House and Senate leaders must decide whether to keep the limit-scrapping provision in Trump's omnibus bill or stage a separate vote. A failure to strike a deal before August would force the Treasury to <a href="https://www.benzinga.com/news/24/12/42713140/us-government-has-less-than-3-weeks-to-raise-debt-ceiling-before-resorting-to-extraordinary-measures-says-treasury-secretary-yellen">deploy "extraordinary measures"</a> — an expensive stop-gap both parties say they want to avoid.
Photo courtesy: Rawpixel.com / Shutterstock.com
Read next: <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>

Trump Is Pleased Because He Finally Agrees With Elizabeth Warren On Something: Scrap The Debt Limit To Prevent An 'Economic Catastrophe'

Gerber Kawasaki's CEO and Co-Founder, Ross Gerber, has mocked Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk over the billionaire's criticism of the Trump administration's <a href="https://www.benzinga.com/news/politics/25/05/45693471/trumps-big-beautiful-bill-could-allow-him-to-hit-back-with-retaliatory-taxes-on-countries-targeting-us-tech-giants">tax bill</a>.
What Happened: "Amazingly Elon now attacking all the people he helped put in power. This should work out well for tesla I'm sure," the investor said, calling Musk out in a post on social media platform X on Wednesday.
He then went on to add that Musk directly supported the "end of all EV benefits" currently in law, as well as "supporting an administration directly opposed to teslas success," Gerber said.
Gerber also pointed towards the recent sell-off among analysts and Tesla insiders in his post, saying that in the midst of it all, the company's board of directors was selling stock and "living the good life."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Amazingly Elon now attacking all the people he helped put in power. This should work out well for tesla I'm sure. After he supported the end of all EV benefits under the current laws along with supporting an administration directly opposed to teslas success. The BOD, selling…
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1930305647863836838?ref_src=twsrc%5Etfw">June 4, 2025</a></blockquote>
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Why It Matters: Gerber's comments come in as Musk had called the bill <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">"a disgusting abomination"</a> in a rare disagreement with the Trump administration, which Musk bankrolled in the run-up to the 2024 Presidential election.
The Congressional Budget Office estimates indicate that the bill could add over<a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45564489/trumps-big-tax-bill-clears-the-house-30-year-yields-jump-to-515-as-bond-market-freaks" target="_blank" rel="noopener"> $5 trillion to the national debt </a>by 2034. However, the White House says it is sticking to its guns <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">despite criticism of the bill</a>.
"It doesn&#8217;t change the President&#8217;s opinion. This is one big, beautiful bill, and he&#8217;s sticking to it," White House Press Secretary Karoline Leavitt responded to Musk's criticism.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="199" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04234619/TSLA-JUN-5-2025-1024x199.jpg" alt="" class="wp-image-939101" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04234619/TSLA-JUN-5-2025-1024x199.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04234619/TSLA-JUN-5-2025-300x58.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04234619/TSLA-JUN-5-2025-768x149.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04234619/TSLA-JUN-5-2025-1536x298.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04234619/TSLA-JUN-5-2025.jpg 1565w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Tesla scores well on Momentum, Growth and Quality metrics. For more such insights, sign up for<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"> Benzinga Edge</a> today!
Check out more of Benzinga&#8217;s Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/markets/tech/25/06/45765168/elon-musk-says-localizing-supply-chains-key-to-mitigate-geopolitical-risk-amid-us-china-trade-tensions">Elon Musk Says Localizing Supply Chains Key To &#8216;Mitigate Geopolitical Risk&#8217; Amid US-China Trade Tensions</a>&nbsp;</li>
</ul>
Photo courtesy: Shutterstock

Politics

Ross Gerber Mocks Elon Musk's Attack On Donald Trump's 'Big, Beautiful Bill:' 'This Should Work Out Well For Tesla'

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:
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<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>

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>

$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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<li><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></li>
</ul>
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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</ul>

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.
<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">&#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>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</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.
<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 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
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
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</ul>

Movers

Trading Ideas

$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"> 
<div class="wp-block-embed__wrapper">
<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>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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"> 
<div class="wp-block-embed__wrapper">
<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>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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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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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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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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>
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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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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'

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CLEAR Announces Leadership Transition: Michael Barkin Joins as President, Jen Hsu Named CFO, and Ken Cornick to Step Down

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CLEAR, an Official TSA PreCheck® Enrollment Provider, Expands Enrollment and Renewal Options by Opening New Simon® Mall Locations

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