Analysts are fearful that cryptocurrencies might be approaching a bubble after this week saw Bitcoin reach an all-time high market cap with a single bitcoin trading over $3,500, per Reuters.

  • By the numbers: All cryptocurrencies combined now have a total market cap of $120 billion — Bitcoin only makes up 46% of that — whereas their combined market cap at the start of the year was $17.5 billion.
  • The argument for a bubble: Some analysts see cryptocurrencies as nothing more than a fad with their value created from nothing. And they're not accepted by the vast majority of retailers, lessening their usefulness.
  • The argument against a bubble: Cryptocurrency proponents believe that their finite supply and technological security makes them an ideal solution in today's age, citing innovations like a United Nations pilot program that used Ethereum, the second most popular cryptocurrency, to give cash to Syrian refugees.

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Updated 59 mins ago - Technology

Facebook, Twitter take down Trump post saying kids are immune to coronavirus

Photo: NurPhoto/Getty Images

Facebook removed a video post from President Trump Wednesday in which he claimed in an interview with Fox News that children are "almost immune" to COVID-19.

Why it matters: It’s the first time that Facebook has removed content from Trump's account for violating policies on coronavirus-related misinformation.

Updated 2 hours ago - Politics & Policy

Trump campaign outraises Biden's by $20 million in July

Combination images of President Trump and former Vice President Joe Biden. Photo: Alex Wong/Getty Images/Mark Makela/Getty Images

President Trump's re-election campaign and the Republican National Committee announced on Wednesday they collectively raised $165 million in July.

Why it matters: With 90 days until the election, Trump and the RNC outpaced the Biden campaign, the Democratic National Committee and their joint fundraising committees, who announced earlier Wednesday that they raised $140 million last month.

Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 6:30 p.m. ET: 18,643,633 — Total deaths: 703,127 — Total recoveries — 11,206,409Map.
  2. U.S.: Total confirmed cases as of 6:30 p.m. ET: 4,811,128 — Total deaths: 157,690 — Total recoveries: 1,528,979 — Total tests: 58,239,438Map.
  3. Public health: Florida surpasses 500,000 confirmed casesFauci calls U.S. coronavirus testing delays "totally unacceptable."
  4. Business: America's next housing crisis.
  5. States: Virginia launches contact tracing app using specs from Apple and Google.
  6. Politics: White House, Democrats remain "trillions of dollars apart" on stimulus talks.