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Illustration: Sarah Grillo/Axios

U.S. securities regulators on Tuesday sued cryptocurrency giant Ripple, and both its CEO and executive chairman, for allegedly selling over $1.3 billion in unregistered securities. Ripple on Monday had publicly disclosed that the lawsuit was to be filed imminently, and said it does not believe its tokens needed to be registered.

Why it matters: XRP, the cryptocurrency created by Ripple in 2012, has the crypto industry's third-largest market cap at around $22 billion, behind only Bitcoin and Ether.

Go deeper: Ripple lawsuit could chill crypto industry investment

Go deeper

Coinbase settles on direct listing to go public

Illustration: Aïda Amer/Axios

Coinbase, the cryptocurrency trading company, said Thursday that its public debut will be a direct listing instead of a traditional IPO.

Why it matters: Coinbase's public listing has been hotly anticipated as a potential tipping point for the cryptocurrency industry to go mainstream. The direct listing route — which allows existing shareholders to sell their stock into the market while the company doesn't raise new funds — has been slowly gaining more traction with Palantir and Asana as the latest to go that direction.

CCP releases two jailed Canadians after Huawei CFO deal with DOJ

Photo: Sheldon Cooper/SOPA Images/LightRocket via Getty Images

Two Canadians imprisoned by the Chinese government for over 1,000 days have been released and are expected to arrive in Canada on Saturday, Prime Minister Justin Trudeau said Friday.

Why it matters: Their release comes hours after Huawei Technologies CFO Meng Wanzhou reached a deal with the U.S. Department of Justice that resolves the criminal charges against her and could pave the way for her to return to China.

Updated 10 hours ago - Politics & Policy

Arizona GOP's private recount of 2020 election confirms Biden's win

Contractors working on behalf of the GOP examine and recount 2020 ballots at Arizona Veterans Memorial Coliseum in Phoenix in May. Photo: Courtney Pedroza/Getty Images

In an odd coda to the 2020 election, private contractors conducting a GOP-commissioned recount in Arizona confirmed President Biden’s win in Maricopa County.

Why it matters: The unofficial, party-driven recount has been heavily covered on cable news as part of former President Trump's continued effort to sow doubt about the election result.