Axios

The Securities and Exchange Commission on Thursday charged Digital Currency Group's Genesis Global Capital and the Cameron and Tyler Winklevoss-founded crypto exchange Gemini for selling unregistered securities.

Why it matters: Regulatory heat on the crypto industry just rose, a lot.

The increasing number of challenges to China's economic growth is scaring off Wall Street.

Why it matters: Investors are facing a new economic and investing environment this year and determining their revised positions.

The ultra-hot readings that defined the first half of 2022 appear to be firmly in the rearview mirror, improving the odds that price pressures can dissipate further without excessive economic pain.

Why it matters: This is the key takeaway from the December Consumer Price Index released Thursday, which confirmed notably cooler inflation as the year came to a close. The nation's inflation problem isn't over, but so far inflation is slowing while the job market is still healthy, an enviable combination.

JPMorgan Chase has sued the founder of Frank, a student financial aid platform that it purchased in 2021 for $175 million, claiming that she falsified the company's number of users.

Why it matters: JPM's complaint is explosive, arguing that Charlie Javice conjured over 90% of the 4.25 million students she claimed had opened Frank accounts.

Most PR firms aren't equipped to serve startups, but even at the earliest stage, founders must establish their brand and share what sets them apart.

Driving the news: Strange Brew Strategies — a tech-focused communications consultancy — is launching a new offering for startup clients, Axios has exclusively learned.

The National Football League's response to Buffalo Bills safety Damar Hamlin's on-field injury signals a major cultural shift for the professional sport, and at the center of culture is communications.

Why it matters: The NFL has been known for fumbling its public communications, but last week the league took a clear, powerful stance on player safety and mental health — even if it was delayed.

Social Capital, the VC firm led by Chamath Palihapitiya, has narrowed the scope of its new fundraise, according to a letter sent to prospective investors and obtained by Axios.

Details: The new plan is to size Fund V at around $1 billion with a focus on early-stage deals, versus prior plans to raise significantly more and to also back growth-stage companies and special opportunities.

Menlo Ventures, one of Silicon Valley's oldest venture firms that's still active and known for investments like Uber and Roku, is raising new capital.

By the numbers: It's seeking at least $500 million for its sixteenth fund, $100 million for a life sciences fund, and $100 million for an incubation fund, per SEC documents.

U.S. consumers got a reprieve from soaring costs in December: the Consumer Price Index declined on a monthly basis, the first drop since last summer as falling prices for items including gasoline and used cars dragged the overall index down.

By the numbers: The index, which captures price changes across a basket of consumer goods and services, fell 0.1%, following an increase by the same amount in November. Over the past 12 months ending in December, the index is up 6.5%, falling from 7.1% through November.

Disgraced FTX founder Sam Bankman-Fried on Thursday published his account of how the crypto company collapsed.

Why it matters: Bankman-Fried is sticking to his claims of innocence, even though two close confidants already have pleaded guilty to fraud and are cooperating with federal prosecutors.

Wells Fargo is retreating from the mortgage business, where it's been a longtime industry leader, the bank said earlier this week.

Why it matters: High mortgage rates have crushed demand for loans, and the biggest home lenders saw business drop by eye-popping percentages last year.

In Silicon Valley, it's raining pink slips.

Driving the news: From behemoths like Meta and Amazon to rising stars like Salesforce and Stripe to idiosyncratic cases like Twitter, and whichever rickety crypto concern you pick, thousands of tech workers got a firsthand look at the underside of tech's boom-and-bust cycle in recent weeks.

U.S. Chamber of Commerce President and CEO Suzanne Clark, in an annual "State of American Business" address, on Thursday will say business "demands better from our government."

Driving the news: "Because when it comes to Washington, the state of American business is fed up," Clark will say.

Move over Elon. Vince McMahon’s sudden and chaotic return to the WWE following his disgraced exit last year is setting up to be media’s juiciest story of 2023 — and we’re not even two weeks into the new year.

Why it matters: WWE enjoyed one of the most successful runs on Wall Street last year, in part because investors saw McMahon's exit as a takeover opportunity. In returning to negotiate WWE's sale on his own terms, McMahon has crafted a storyline worthy of the company’s flagship Wrestlemania or Smackdown events.

Despite official insistence that fears of a ban are unfounded, conservatives are suddenly championing gas stoves in a new culture war.

Why it matters: Mounting scientific evidence points to a link between a higher risk of respiratory problems and gas stoves — the prevalent means of cooking in roughly 47 million American households.

There's plenty of blame to go around for the recent spate of delays and cancellations that have left travelers angry and cost airlines billions of dollars.

Driving the news: U.S. airline departures were grounded for several hours Wednesday morning amid an issue with a Federal Aviation Administration (FAA) system that sends pilots safety alerts and other critical info.

This article originally appeared in Axios Finish Line, our nightly newsletter on life, leadership and wellness. Sign up here.

We tend to walk away from conversations underestimating how good of an impression we left on the other person.

• Why it matters: Our perception of how well-liked we are by our co-workers nestles into our brains — and it affects everything from how good we feel about ourselves to how well we perform at our jobs.

Amazon is turning into a logistics as a service provider, allowing merchants to use its Prime logistics without actually needing to sell on Amazon.

Why it matters: Its future growth, especially in terms of profits, could ride on its ability to manage inventory, warehouse, deliver and even process returns for other businesses.