Ripple, the startup behind the XRP cryptocurrency, has agreed to invest up to $50 million in MoneyGram, the giant money-transfer service.

Why it matters: "It is not the largest deal Ripple’s undertaken but is the largest company in which it has invested—and the first time it has invested in a publicly traded company," the Wall Street Journal reports.

Details: Ripple agreed to buy $30 million worth of shares and warrants to buy stock at $4.10 a share (for a 10% stake in the company), and additional warrants for up to $20 million worth of newly issued stock, also at $4.10 a share, over the next two years at MoneyGram’s discretion.

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Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: McConnell urges White House not to strike stimulus deal before election — Republican senators defend Fauci as Trump escalates attacks.
  2. Health: The next wave is gaining steam.
  3. Education: Schools haven't become hotspots — University of Michigan students ordered to shelter-in-place.
Updated 2 hours ago - Politics & Policy

Biden has huge cash advantage over Trump as Election Day nears

Democratic presidential nominee Joe Biden in Wilmington, Delaware, on Monday. Photo: Drew Angerer/Getty Images

Democratic presidential nominee Joe Biden had $177.3 million in the bank at the end of September, per the latest Federal Election Commission filings.

Why it matters: President Trump's re-election campaign reported having $63.1 million in the bank at the end of last month, as campaigning enters the final stretch ahead of Election Day on Nov. 3.

Court allows North Carolina mail-in ballots deadline extension

An absentee ballot election worker stuffs ballot applications at the Mecklenburg County Board of Elections office in Charlotte, North Carolina, in September. Photo: Logan Cyrus/AFP via Getty Images

North Carolina can accept absentee ballots that are postmarked Nov. 3, Election Day, until Nov. 12, a federal appeals court decided Tuesday in a 12-3 majority ruling.

Why it matters: The 4th Circuit Court of Appeals' ruling against state and national Republican leaders settles a lawsuit brought by a group representing retirees, and it could see scores of additional votes counted in the key battleground state.

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