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Michael Cohen. Photo: Spencer Platt/Getty Images

President Donald Trump's personal lawyer Michael Cohen had access to "as much as $774,000 through two financial transactions" during the 2016 presidential election, the Wall Street Journal reports citing public records.

Why it matters: Per the WSJ, this could feed into the investigation of his business affairs by the FBI and Manhattan federal prosecutors. Cohen doubled the credit line to his Manhattan apartment in February 2016 to $245,000, and gained access to an additional $529,000 in late 2015. The report adds that Cohen reportedly used his "home-equity line of credit to make a $130,000 payment" to Stormy Daniels. [Go deeper: Giuliani walks back that Fox News interview.]

Go deeper

Felix Salmon, author of Capital
1 hour ago - Technology

Facebook's scandals have been great for shareholders

Expand chart
Data: YCharts; Chart: Axios

Facebook has been embroiled in scandal for the past five years, and while the specific allegations change over time, a central theme is constant. Given the choice between commercial and moral imperatives, Facebook always seems to choose the option that is best for the share price.

Why it matters: Facebook's stock chart supports that narrative. Since the 2016 scandals alleging that the social network was infiltrated by foreign actors trying to influence the outcome of democratic elections, Facebook's revenues — and its stock — have been soaring.

Biden to tap telecom trio for NTIA, FCC posts

Jessica Rosenworcel. Photo: Bill Clark/CQ Roll Call

President Joe Biden on Tuesday is expected to name Alan Davidson as head of the telecom arm of the Commerce Department, Jessica Rosenworcel as chairwoman of the Federal Communications Commission and Gigi Sohn as a commissioner at the FCC, according to a person familiar with the process.

Why it matters: Internet availability and affordability has been a key policy priority for the White House, but the administration lagged in tapping people for the agency posts that oversee the issues.

3 hours ago - Technology

Facebook seeks fountain of youth

Data: Piper Sandler Taking Stock With Teens Study; Chart: Axios Visuals

Facebook CEO Mark Zuckerberg on Monday said that the company is pivoting its strategy to focus on young adults, following reports that teens have fled its apps.

Why it matters: A series of stories based on leaked whistleblower documents suggest the company sees the aging of its user base as an existential threat to its business.