Stories by Kia Kokalitcheva

Exclusive: Rep. invites industry leaders to weigh ICO regulation

A locked lock with cryptocurrency symbols on it
Illustration: Rebecca Zisser/Axios

Rep. Warren Davidson (R-Ohio) is inviting 32 industry leaders, lobbyists, and nonprofits this week to attend a Sept. 25 forum on Capitol Hill to discuss what he calls "light-touch" regulation on initial coin offerings (ICOs), according to the invitation and list Axios has obtained.

Why it matters: The industry has been operating in a regulatory fog. While the Securities and Exchange Commission's chairman has stated that he has yet to see an ICO that doesn't qualify as a securities offering, the agency hasn't issued any guidance outside of an investigation memo about one case and a number of enforcement actions against fraudsters.

Uber's losses are widening again

Illustration: Lazaro Gamio / Axios

Uber is once again losing money, after turning a first quarter profit thanks to the sales of its Russia and Southeast Asia units.

Why it matters: Uber plans to go public by the end of 2019, but continues to balance its desire for profitability with increased investment in areas like food delivery business, bike-share and self-driving.

Bitwise adds 3 new cryptocurrency indices

Illustration: Rebecca Zisser / Axios

Bitwise, which debuted the first private index fund for the top 10 digital tokens last year, is adding three more indices and an API for third parties to access its data. It also will open private funds corresponding to the new indices in the coming months.

Why it matters: Bitwise is part of a wave of companies aiming to make crypto-assets more accessible to mainstream and institutional investors, especially in dealing with market volatility.