Illustration: Rebecca Zisser/Axios

This week the U.S. Securities and Exchange Commission announced it's set up a new office focused specifically on "fintech" (including crypto-assets and blockchain tech), but that's not all the news you should know.

Catch up quick: Fidelity wants to help big cryptocurrency investors; amid growing Tether concerns, other stablecoins are having a great week; and most 2017 initial coin offerings (ICOs) are now trading below their listing price.

Fidelity wants to help big cryptocurrency investors (Axios)

  • Why it matters: Fidelity's new company will provide services to institutional investors, including custody, which has been one of the main hurdles to getting more institutional investors into cryptocurrencies. While some independent companies like BitGo and Kingdom Trust exist to help, several large financial institutions are developing their own.

Amid growing Tether concerns, other "stablecoins" are having a great week (Coindesk)

  • Why it matters: Tether, a digital token said to be backed by U.S. dollars, is seeing its price continue to drop below $1 as investors have been increasingly weary of the issuer's claims and are rushing to exchange the tokens for real dollars. Meanwhile, a number of digital token exchanges are adding or considering adding more stablecoins, reinforcing the growing market demand for this category of asset.

Report: Most 2017 initial coin offerings (ICOs) now trading below listing price (Reuters)

  • Why it matters: During the initial coin offering craze last year, scores of companies and projects rushed to raise millions of dollars by selling digital tokens, many viewing this as an alternative to selling company equity to investors. But in line with many skeptics at the time, Ernst & Young, which authored the study, found that 86 out of 141 projects are now trading below their listing price, and 71% still have no working product. This is significantly different from what you'd see in traditional venture-backed startups, the firm noted.

Go deeper

Media prepares to fact check debates in real time

Illustration: Annelise Capossela/Axios

From live blogs to video chyrons and tweets, media companies are introducing new ways to fact check the presidential debates in real time this year.

Between the lines: The debates themselves are likely to leave less room for live fact-checking from moderators than a traditional news interview would.

Life after Roe v. Wade

The future seems clear to both parties: The Supreme Court will overturn Roe v. Wade in the next few years, either gradually or in one fell swoop, and the abortion wars will move to a state-by-state battle over freedom and restrictions. 

What's new: Two of the leading activists on opposite sides of the abortion debate outlined for “Axios on HBO” the next frontiers in a post-Roe v. Wade world as the balance on the Supreme Court prepares to shift.

Dion Rabouin, author of Markets
1 hour ago - Economy & Business

Jerome Powell, Trump's re-election MVP

Photo illustration: Annelise Capossela/Axios. Getty Images photos: Andrew Caballero-Reynolds/AFP and Lev Radin/Pacific Press/LightRocket

President Trump trails Joe Biden in most polls, has generally lower approval ratings and is behind in trust on most issues. Yet polls consistently give him an edge on the economy, which remains a top priority among voters.

Why it matters: If Trump wins re-election, it will largely be because Americans see him as the force rallying a still-strong U.S. economy, a narrative girded by skyrocketing stock prices and consistently climbing U.S. home values — but the man behind booming U.S. asset prices is really Federal Reserve chair Jerome Powell.