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Photo: LOIC VENANCE/AFP via Getty Images

Simone Biles will not be competing in the Olympic floor exercise event to prioritize her mental well-being, USA Gymnastics announced Sunday morning local time.

What's happening: "Simone has withdrawn from the event final for floor and will make a decision on beam later this week," USA Gymnastics said in a statement. "Either way, we're all behind you, Simone."

The big picture: The 24-year-old four-time Olympic gold medalist withdrew from last week's Tokyo Games women's gymnastics team finals and the individual all-around finals.

What she's saying: Biles last Wednesday responded on Twitter to the support she's received following her decisions.

  • "[T]he outpouring love & support I’ve received has made me realize I’m more than my accomplishments and gymnastics which I never truly believed before," Biles said.

Go deeper: Simone Biles lauded for "bravery in prioritizing" mental wellness

Editor's note: This article has been updated with new details throughout.

Go deeper

FBI fires agent accused of failing to investigate Nassar allegations

Larry Nassar appears for sentencing in Eaton County Circuit Court on February 5, 2018, in Charlotte, Mich. Photo: Rena Laverty/AFP via Getty Images

The FBI has fired an agent accused of failing to properly investigate the sexual assault allegations against USA Gymnastics doctor Larry Nassar, the Washington Post reports.

Why it matters: Michael Langeman was fired just days before Wednesday's public hearing into the FBI's handling of the Nassar case — which will feature testimony from gymnasts Simone Biles, McKayla Maroney, Maggie Nichols and Aly Raisman.

Workout economy hangs fate on celeb trainers

Illustration: Annelise Capossela/Axios

At-home workout companies are turning fitness instructors into stars.

What's new: Tonal, which makes a wall-mounted, strength training device, said its machines will start streaming live classes in October. 

Dan Primack, author of Pro Rata
2 hours ago - Economy & Business

An inside look at Intuit's Mailchimp acquisition

Illustration: Aïda Amer/Axios

When Mailchimp recently agreed to be acquired by Intuit for $12 billion, we noted how it was the richest sale ever of a private bootstrapped company. Now we know more about why the Atlanta-based email marketing company never took outside funding.

The big picture: Mailchimp founder and CEO Ben Chestnut tells Axios that it was all about timing.