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White House National Security Advisor John Bolton issued a statement Friday saying the U.S. "does not recognize Venezuelan dictator Nicolas Maduro’s illegitimate claim to power."

"We hold the illegitimate Maduro regime directly responsible for the safety of all Venezuelans who cry out demanding to freely choose their leaders. We will continue to use the full weight of United States economic and diplomatic power to press for the restoration of a Venezuelan democracy that reverses the current constitutional crisis."

The big picture: Maduro began his second six-year term Thursday after winning a sham election in which he deposed or intimidated all of his legitimate challengers. His government has contributed to a massive humanitarian crisis in Venezuela, with nearly 90% of population in poverty and 3 million citizens fleeing the country as economic refugees. The U.S. joins 14 Latin American countries that have labeled Maduro's presidency "illegitimate."

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Scoop: Instacart raises another $100 million

Illustration: Sarah Grillo/Axios Visuals

Grocery delivery company Instacart has raised $100 million in new funding, on top of the $225 million it announced last month, the company tells Axios. This brings its valuation to $13.8 billion.

Why it matters: This funding comes at what could be an inflection point for Instacart, as customers it acquired during coronavirus lockdowns decide whether they want to continue with the service or resume in-person grocery shopping.

Updated 52 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10 a.m. ET: 10,902,347 — Total deaths: 521,940 — Total recoveries — 5,777,662Map.
  2. U.S.: Total confirmed cases as of 10 a.m. ET: 2,739,879 — Total deaths: 128,740 — Total recoveries: 781,970 — Total tested: 33,462,181Map.
  3. Public health: The states where face coverings are mandatory Regeneron stops trial after drug fails to help patientsWhat we know about the coronavirus immune response — Fauci says it has been a "very disturbing week" for the spread of the coronavirus in the U.S.
  4. Business: Top business leaders urge the White House to develop mandatory mask guidelines.
  5. Politics: Herman Cain hospitalized for COVID-19 after attending Trump Tulsa rally — Biden downplays jobs number, rebukes Trump for ignoring health crisis.
  6. Economy: The economy may recover just quickly enough to kill political interest in more stimulus.
  7. States: Texas mandates face masks in public spaces Florida reports more than 10,000 new coronavirus cases, and its most-infected county issues curfew.

Markets swell as the economy shrinks

Illustration: Eniola Odetunde/Axios

The economy is sputtering, but the markets are thriving — a highly unusual event that shows how the coronavirus has thrown all bets off.

Why it matters: The disconnect adds to the wealth gap. The richest 10% of households — who own 84% of stocks — are getting richer, while millions of out-of-work Americans cross their fingers that pandemic unemployment benefits will be extended.