A screen of an ATM cash-to-bitcoin machine flashes an image of the virtual coins. Photo: Peter Dejong / AP

Tezos, which raised $232 million in an initial coin offering in June, plummeted on derivative exchanges before the product — a blockchain for digital currency — even launched, Bloomberg reports. Derivatives on Tezos tokens fell as much as 31%, according to exchange HitBTC, Bloomberg says. Ethereum, a platform used to launch many ICOs, fell 2% after the news, per Coindesk.

Why it matters: As Bloomberg puts it, "Experts have warned for months about the risks and lack of transparency in ICOs, which have raked in $3 billion this year despite offering little protection or guarantees to investors. Whether Tezos recovers to deliver value to investors could go a long way to shaping how authorities regulate ICOs."

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Updated 6 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 4:30 p.m. ET: 21,295,429 — Total deaths: 767,714— Total recoveries: 13,295,750Map.
  2. U.S.: Total confirmed cases as of 4:30 p.m. ET: 5,345,610 — Total deaths: 169,146 — Total recoveries: 1,796,326 — Total tests: 65,676,624Map.
  3. Health: The coronavirus-connected heart ailment that could lead to sudden death in athletes — Patients grow more open with their health data during pandemic — FDA issues emergency use authorization for Yale's saliva coronavirus test.
  4. Education: "Historic" laptop demand leads to shortages ahead of remote school — Why learning pods aren't a panacea for remote learning — The COVID-19 learning cliff.
  5. States: New York to reopen gyms, bowling alleys, museums.
  6. Podcasts: The rise of learning podsSpecial ed under pressure — Not enough laptops — The loss of learning.

The COVID-19 learning cliff

Illustration: Aïda Amer/Axios

Perhaps the most jarring reality of the COVID-19 pandemic for families has been the sudden and dramatic disruption to all levels of education, which is expected to have deep social and economic repercussions for years — if not decades — to come.

Why it matters: As millions of students are about to start the school year virtually, at least in part, experts fear students may fall off an educational cliff — missing key academic milestones, falling behind grade level and in some cases dropping out of the educational system altogether.

Postal slowdown threatens election breakdown

In 24 hours, signs of a pre-election postal slowdown have moved from the shadows to the spotlight, with evidence emerging all over the country that this isn't a just a potential threat, but is happening before our eyes.

Why it matters: If you're the Trump administration, and you're in charge of the federal government, remember that a Pew poll published in April found the Postal Service was viewed favorably by 91% of Americans.