Illustration: Greg Ruben / Axios

A class-action lawsuit was filed last week against the founders of Tezos, a blockchain project, over its July initial coin offering (ICO), alleging they violated securities laws and defrauded participants in the fundraise. The lawsuit comes just days after Tezos' founders revealed a dispute with the Swiss foundation set up to manage the funds it raised. The project is also significantly delayed from the original timeline shared with investors.

Why it matters: Regulators have been cautiously examining ICOs and issuing warnings to the industry precisely to avoid such situations in which investors could feel misled. Tezos's ICO is one of the largest thus far, raising over $230 million at the time (now worth about twice as much), which will surely be watched closely by regulators.

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Updated 29 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 8 p.m. ET: 33,495,373 — Total deaths: 1,004,314 — Total recoveries: 23,259,632Map.
  2. U.S.: Total confirmed cases as of 8 p.m ET: 7,186,527 — Total deaths: 205,895 — Total recoveries: 2,809,674 — Total tests: 103,155,189Map.
  3. Health: Americans won't take Trump's word on the vaccine, Axios-Ipsos poll finds.
  4. States: NYC's coronavirus positivity rate spikes to highest since June.
  5. Sports: Tennessee Titans close facility amid NFL's first coronavirus outbreak.
  6. World: U.K. beats previous record for new coronavirus cases.
  7. Work: United States of burnout — Asian American unemployment spikes amid pandemic

Misinformation thrives on social media ahead of presidential debate

Joe Biden speaking in Wilmington, Delaware, on Sept. 27. Photo: Roberto Schmidt/AFP via Getty Images

A baseless conspiracy theory that Joe Biden would wear an electronic device in his ear during the first presidential debate on Tuesday went viral on social media hours before the event.

Why it matters: The conspiracy originated on social media before appearing in a text message sent by President Trump’s re-election campaign to supporters. It was then regurgitated by media outlets like Fox News and New York Post, who cited the Trump campaign, throughout the day, according to NBC News.

Amy Coney Barrett says Trump offered her nomination 3 days after Ginsburg's death

Barrett speaks after being nominated to the US Supreme Court by President Trump in the Rose Garden of the White House. Photo:; Olivier Douliery/AFP

Amy Coney Barrett said in a questionnaire released by the Senate Judiciary Committee Tuesday that President Trump offered her the Supreme Court nomination on Sept. 21, five days before he announced the pick to the public.

Why it matters: According to the questionnaire, Trump offered Barrett the nomination just three days after Ruth Bader Ginsburg died, suggesting that the president knew early on that Barrett was his pick. Minutes after offering Barrett the nomination, however, Trump told reporters that he had not made up his mind and that five women were on the shortlist.