Photo: Spin

Spin, a San Francisco-based scooter-sharing startup, is finishing up a $125 million “security token offering,” Axios has learned.

Why it matters: Some of the startup's competitors, namely Bird and Lime, have already raised hefty amounts of venture capital, while Spin has only disclosed $8 million in funding so far.

  • Security token offerings are similar to initial coin offerings, except that they're explicit securities (i.e., not utilities) and backed by real assets (in this case, Spin itself).
  • This is separate from Layer Protocol (formerly PIN Protocol), the Spin founders’ side project, “a blockchain-based reputation and rewards protocol” they plan to someday integrate with the company’s service eventually.

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America's nightmare foretold

Illustration: Sarah Grillo/Axios

President Trump made it clear at the debate that he’ll continue to call the results fraudulent — and contest the outcome in key states — no matter how wide the margin. That’ll be amplified by a massive amount of disinformation, even though the platforms are trying to curtail it.

Why it matters: Back in 2000, we didn’t know Bush v. Gore was going to happen. We know this is going to happen.

2 hours ago - Technology

Congress looks to squeeze Big Tech ahead of election

Illustration: Sarah Grillo/Axios

Tech companies are bracing for a tough day in three separate Capitol Hill committees Thursday, as lawmakers move to show they're tough on social media platforms in the days leading up to the election.

Why it matters: Big Tech has become a go-to punching bag for both the right and left, and tech policy has become increasingly fertile ground for grievance politics.

The array of far-right groups "standing by" after Trump's call

Illustration: Aïda Amer/Axios

President Trump's refusal to condemn white nationalists during Tuesday night's debate drew a lot of attention — including from the Proud Boys, the far-right group he asked to "stand back and stand by."

Why it matters: The Proud Boys remain relatively small — a Portland rally this past weekend billed as the group's largest-ever gathering drew just a few hundred people. But Trump's failure to condemn extremist groups has been welcomed as an endorsement by a wide constellation of people on the fringes.