Axios

The parent company of now-defunct crypto bank Silvergate has agreed to pay $63 million to settle a lawsuit from the Securities and Exchange Commission and accusations brought by the Federal Reserve Board and California regulators against the bank and former executives.

Why it matters: The SEC's suit has to do with some $1 trillion in banking transactions that occurred in 2021 and 2022, during which time Silvergate allegedly knowingly violated the Bank Secrecy Act and anti-money laundering rules.

Boeing is bringing key supplier Spirit AeroSystems back under its wing.

Why it matters: Moving the fuselage maker in-house — Boeing sold the business nearly two decades ago — is seen as a necessary step to correct quality-control issues that have plagued both companies.

The Boston Celtics are for sale, according to a statement sent out on Monday by team ownership.

Why it matters: This comes just weeks after the club won its record 18th championship, and as the NBA finishes negotiations on a mammoth new media rights deal.

"Inside Out 2" crossed $1 billion in worldwide box office sales this weekend, making it the first movie of the year to reach the milestone.

Why it matters: It's the fastest animated picture to gross $1 billion — reaching the marker in 19 days, according to Disney.

An initial surge of M&A at the start of the year has hit a slowdown, LSEG data shows.

Why it matters: Financing markets are back and ample cash is on hand for buyers, but the hesitance of CEOs to go all-in on a takeover continues to weigh over industries.

Zoom in: The value of U.S. M&A in the second quarter dipped 5% to $297.7 billion compared to the same prior year period, according to LSEG.

• Worldwide M&A values followed a similar trend.
• The number of deals done in the U.S. during the quarter fell by nearly half, to 2,548.
• Notable deals in the quarter include Sony's agreement to buy Alamo Drafthouse and T-Mobile's acquisition of UScellular's wireless business.
• ConocoPhillips struck a $17 billion deal to buy Marathon Oil in May.

Yes, but: Adding Q1 and Q2 together, this year so far is stronger than year-to-date last year.

• Dealmakers have long referenced the pent-up M&A demand lingering since the Federal Reserve began its rate hikes and acquisition financing dried up.
• So far, 2024 has seen an overall uptick in M&A, but not the surge some had expected.

By the numbers: Worldwide, private equity-backed M&A is up year to date.

• PE-sponsored deals rose 40% to $361.2 billion during the quarter; the number of transactions in the space also fell by nearly half, to 4,326.

Mary Meeker has written her first report in over four years, focused on the relationship between artificial intelligence and U.S. higher education.

Why it matters: Meeker's annual "Internet Trends" reports were among Silicon Valley's most cited and consumed documents.

Tractor Supply, an 86-year-old rural retailer that became a post-pandemic stock-market darling, caved to social media pressure last week and abolished a slew of diversity and environmental goals.

Why it matters: The move marks a stunning U-turn from the company's previous position.

At some point in the next few years, a charitable trust will be created that will immediately be the largest such entity in the world. Amazingly, no one seems to have given much thought to what it might do or where it will spend its money.

Why it matters: Warren Buffett's yet-to-be-named charitable trust will be 100% effective from day one at ensuring that his estate pays no tax on the billions he has made.

A new grassroots effort to propel innovation in American manufacturing is flexing its muscle across the Rust Belt and the Beltway.

Why it matters: Decades of globalization have left U.S. industry dependent on foreign supply chains — and at risk of falling behind China and other countries.