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Sen. Richard Burr (R-N.C.) walking through the Senate Subway in the U.S. Capitol in December 2020. Photo: Stefani Reynolds/Getty Images

The Department of Justice told Sen. Richard Burr (R-N.C.) on Tuesday that it will not move forward with insider trading charges against him.

Why it matters: The decision, first reported by the New York Times, effectively ends the DOJ's investigation into the senator's stock sell-off that occurred after multiple lawmakers were briefed about the coronavirus' potential economic toll. Burr subsequently stepped down as chair of the Senate Intelligence Committee.

What he's saying: “Tonight, the Department of Justice informed me that it has concluded its review of my personal financial transactions conducted early last year," Burr said in a statement.

  • "The case is now closed. I’m glad to hear it. My focus has been and will continue to be working for the people of North Carolina during this difficult time for our nation.”

The big picture: The Justice Department has now closed all four of its Senate insider trading probes it launched early on in the pandemic.

  • Sens. James Inhofe (R-Okla.) and Dianne Feinstein (D-Calif.), along with former Sen. Kelly Loeffler (R-Ga.), were also investigated but also did not face charges.

Context: Loeffler, Inhofe, Feinstein and Burr sold off hundreds of thousands of dollars worth of stocks following briefings in January that detailed the potential economic devastation of the coming pandemic.

  • Lawmakers are prohibited from insider trading via the 2012 "Stop Trading on Congressional Knowledge Act," which blocks members of Congress and their staff from managing investment portfolios based on nonpublic information.

Go deeper

Robinhood has a stacked policy team — and it's going to need it

Photo Illustration: Justin Sullivan/Getty Images

The stock-trading app Robinhood has an arsenal of political power brokers it can deploy on its behalf as it faces congressional inquiries over its role in an internet-fueled market manipulation frenzy.

Why it matters: The populist, discount trading platform is going to need that firepower because its decision to suspend trading of stock in GameStop and a number of other companies on Thursday has sparked criticism and promised inquiries from both sides of the aisle.

D.C.'s building boom grinds to a halt

Illustration: Brendan Lynch/Axios

The decades-long building boom that remade Washington D.C. is screeching to a halt, undone by broader construction trends and the legacy of the post-pandemic workplace.

Why it matters: Dizzying construction has reshaped the city, reinvigorated downtown and created bustling new communities. 

Facebook fights for its image

Illustration: Annelise Capossela/Axios

Facebook is ditching apologies and taking a more combative stance against its critics as it faces a new barrage of negative coverage and leaked internal reports.

Driving the news: As part of the new posture, Facebook started testing placing positive messages about itself in users' News Feeds last month, according to a New York Times story Tuesday.