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President Trump crosses paths with Russian President Vladimir Putin at the G20 summit in Argentina. Photo: Mikhail Svetlov/Getty Images

Secretary of State Mike Pompeo told CNN's Wolf Blitzer that it was "ludicrous" to suggest President Trump canceled his G20 meeting with Vladimir Putin because of news that Michael Cohen was pleading guilty in the Mueller investigation, claiming Russian aggression against Ukraine was the sole reason for the decision.

Why it matters: Trump's decision to cancel the meeting, announced via tweet, came just hours after his former personal attorney pleaded guilty to lying to Congress about his work on plans to build a Trump Tower in Moscow — a plea that directly brought Trump and his business entanglements in Russia into the special counsel's investigation. Pompeo maintains that the meeting was canceled "because the Russians behaved in a way that is deeply inconsistent with international law."

Go deeper

Reddit traders look to pummel Wall Street's old guard

Illustration: Sarah Grillo/Axios

Reddit traders are taking on Wall Street pros at their own game with this basic mantra: Stocks will always go up.

Why it matters: Their trades — egged on in Reddit threads — have played a role in historic market activity in recent days.

The week the Trump show ended

Data: NewsWhip; Chart: Andrew Witherspoon/Axios

Donald Trump was eclipsed in media attention last week by President Biden for the first time since Trump took office, according to viewership data on the internet, on social media and on cable news.

Why it matters: After Trump crowded out nearly every other news figure and topic for five years, momentum of the new administration took hold last week and the former president retreated, partly by choice and partly by being forced off the big platforms.

Pay TV's bleak post-pandemic outlook

Data: eMarketer; Chart: Axios Visuals

The pandemic has taken a huge toll on the Pay-TV industry, and with the near-term future of live sports in question, there are no signs of it getting better in 2021.

Why it matters: The fraught Pay-TV landscape is forcing some smaller, niche cable channels out of business altogether.