Photo: Nicholas Pfosi for The Boston Globe via Getty Images

Fidelity Investments has established a new standalone company that will provide custody and other cryptocurrency services to institutional investors like hedge funds and family offices. It is expected to roll out next year.

Why it matters: Custody 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.

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Updated 42 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 7 a.m. ET: 12,739,269 — Total deaths: 565,704 — Total recoveries — 7,021,460Map.
  2. U.S.: Total confirmed cases as of 7 a.m. ET: 3,247,782 — Total deaths: 134,815 — Total recoveries: 995,576 — Total tested: 39,553,395Map.
  3. Politics: Trump wears face mask in public for first time.
  4. Public health: Fauci hasn't briefed Trump on the coronavirus pandemic in at least two months — We're losing the war on the coronavirus.
  5. States: Louisiana governor issues face mask mandate.
  6. World: India reimposes lockdowns as coronavirus cases soar.

Biden's doctrine: Erase Trump, re-embrace the world

Photo illustration: Sarah Grillo/Axios. Photo: Bastiaan Slabbers/NurPhoto, and Bastiaan Slabbers/NurPhoto via Getty Images

Foreign policy will look drastically different if Joe Biden defeats President Trump in November, advisers tell Axios — starting with a Day One announcement that the U.S. is re-entering the Paris Climate Agreement and new global coordination of the coronavirus response.

The big picture: If Trump's presidency started the "America First" era of withdrawal from global alliances, Biden's team says his presidency would be the opposite: a re-engagement with the world and an effort to rebuild those alliances — fast.

Robert Mueller speaks out on Roger Stone commutation

Former Special Counsel Robert Mueller testifies before the House Permanent Select Committee on Intelligence on Capitol Hill on Wednesday July 24, 2019. Photo: The Washington Post / Contributor

Former special counsel Robert Mueller responded to claims from President Trump and his allies that Roger Stone was a "victim" in the Justice Department's investigation into Russian interference in the 2016 election, writing in a Washington Post op-ed published Saturday: "He remains a convicted felon, and rightly so."

Why it matters: The rare public comments by Mueller come on the heels of President Trump's move to commute the sentence of his longtime associate, who was sentenced in February to 40 months in prison for crimes stemming from the Russia investigation. The controversial decision brought an abrupt end to the possibility of Stone spending time behind bars.