Axios

Cryptocurrency company Coinbase posted $1.8 billion in revenue for Q1 2021—more than it brought in for all of 2020, ahead of its direct listing next week.

Why it matters: Coinbase's public listing is hotly anticipated and seen by insiders as an event that will bring validation to the industry.

President Biden said Tuesday he has not spoken with Federal Reserve chair Jerome Powell, saying he's "not going to do the kinds of things that have been done in the last administration."

Why it matters: It's an indicator that Biden will respect the independence of the Fed by not publicly commenting on its decisions, and it's a shift from the Trump administration.

The global economy is going to end 2021 2.5% larger than it was at the end of 2019. That's according to the latest forecast from the IMF, which has upgraded its economic projections by about half a percentage point since its last forecast in January.

Why it matters: The overall growth rate of 6% in 2021 masks a huge range between countries. India is projected to grow at a 12.5% pace this year, for instance, while Nigeria will only grow by 2.5%.

A historically bad year for the global economy was also a record-smashing one for the wealthiest people on the planet.

Driving the news: The 35th annual Forbes world billionaires list — out today — had a record number atop its list who largely saw their net worth skyrocket.

Georgia businesses have come under boycott pressure from the right and the left, following last week's passage of a controversial new voting bill. Atlanta also lost Major League Baseball's All-Star Game, which will now take place in Denver.

Axios Re:cap digs into the consequences of this law for Georgia voters and locally-based businesses, and what other states can learn from the situation with Atlanta Mayor Keisha Lance Bottoms.

General Motors announced Tuesday it will introduce an electric version of its popular Chevrolet Silverado pickup truck that will be built at the company’s Factory ZERO assembly plant in Detroit.

Why it matters: GM is rapidly expanding its portfolio of battery-operated vehicles, with a plan to deliver more than 1 million EVs globally by 2025. It just unveiled the GMC Hummer electric SUV last weekend, joining the previously announced GMC Hummer electric pickup.

Sarcos Robotics, a Salt Lake City-based developer of robotic exoskeletons, agreed to go public at a $1.3 billion implied valuation via acquisition by Rotor Acquisition (NYSE: ROT), a SPAC led by Wall Street vet Brian Finn.

Why it matters: Expect this one to get some special scrutiny from the SEC. Finn's venture capital firm, Rotor Capital, last year led a Series C investment in Sarcos and also participated in a CES product unveiling. And Finn seems aware of the potential pitfalls, mentioning the existing relationship early in today's investor presentation.

Bad news for Amazon is usually viewed as good news by its smaller retail rivals, wherever they sit in the supply chain. But that may not be true this week.

The big picture: Nearly 6,000 Amazon warehouse workers in Alabama are awaiting the preliminary results of a unionization vote, which could be released at any moment by the National Labor Relations Board.

Will.i.am, founder of the Black Eyed Peas, is launching a $299 mask — complete with noise cancellation headphones — with help from N95 manufacturer Honeywell.

Why it matters: The rapper and entrepreneur is betting people will splurge on a souped-up face covering as a fashion statement and for its wearable tech element, even as the pandemic eases and the pace of vaccinations pick up.

In a world where smartphones have become increasingly homogeneous, Korea's LG was notable for being willing to take risks, even in its flagship models.

Why it matters: LG's exit from the smartphone business doesn't put a lot of market share up for grabs, but the firm's penchant for trying new things will be missed.

The clean energy think tank RMI just launched a nonprofit journalism arm called Canary Media that's staffed by well-known names in energy and climate reporting.

The big picture: Canary will be "at the forefront of the clean energy transition" with a mission to cover global efforts to fight climate change, per RMI, formerly the Rocky Mountain Institute.

The Sacramento Kings will become the first major sports franchise to offer a bitcoin payment option to all players and staff, Coindesk reports.

The backdrop: Russell Okung made headlines in December for becoming the first NFL player to convert some of his salary into bitcoin.

The March reading of the ISM services index reached the highest level on record last month (with data going back to 1997), far outpacing economists' forecasts. At 63.7, it jumped more than eight points from the month before.

The big picture: Readings from business owners in the U.S. services sector now have joined the manufacturing sector in ebullience about the future, as stimulus checks hit bank accounts, vaccination rates rise and job growth returns.

The epic legal fight between Oracle and Google took place in the technical trenches, but it captured Silicon Valley's imagination because it dramatized deep tensions that the software industry has never resolved.

The big picture: A software program is a machine that's written. Because of that, software has always held a precarious position within the legal system.

1 in 4 workers (26%) plans to look for a job at a different company once the pandemic has subsided, according to Prudential's latest Pulse of the American Worker Survey, conducted by Morning Consult in March.

Why it matters: High-skilled workers with plenty of opportunities are the hardest to replace. This massive reshuffling also will create major headaches for employers, and will likely expand the gaps between men and women in the workplace.

Monday's Supreme Court's ruling in favor of Google over Oracle left much of the software industry feeling like they'd dodged a bullet.

Why it matters: By resolving an 11-year-old dispute over rights to program code in favor of Google, the Supreme Court is allowing tech companies to largely continue with their practice of building on past software advances in creation of new technology.

New Zealand will open a quarantine-free "travel bubble" with Australia from 11:59pm on April 18, Prime Minister Jacinda Ardern announced Tuesday.

Why it matters: New Zealand tourism industry official Chris Roberts and Michael Barnett, an NZ Chamber of Commerce director, told Axios the plan could serve as a model for other countries.

North Korea's sports ministry announced Tuesday that it's decided to pull out of this summer's Tokyo Olympics "to protect athletes from the global health crisis caused by the coronavirus."

Why it matters: North Korea is the first country to withdraw its team from the Games because of pandemic concerns.

A new Utah law requires biological fathers to pay half of women's pregnancy expenses.

Why it matters: While states like New York and Wisconsin have similar financial provisions for pregnancies, "Utah appears to be the first state to mandate prenatal child support," AP notes.

Major League Baseball is moving its 2021 All-Star Game to Denver's Coors Field, home of the Colorado Rockies, on July 13, according to multiple reports Monday night.

Driving the news: After the MLB pulled the event from Atlanta over Georgia's new voting restrictions, a spokesperson for Colorado Gov. Jared Polis (D) said last Friday he would be "burning up the phones" to bring the game to Denver.