Screen-grab from CNBC Mad Money in March: https://youtu.be/sUxxbKsvrdQ

SoFi said today in a press release that Executive Chairman Tom Hutton would be assuming responsibilities of Interim CEO, after the Board accepted co-founder Mike Cagney's resignation effective immediately.

Why it matters: Cagney was expected to finish out the year as CEO, but plans have changed in the past few days. A source familiar with the situation told Axios the board determined it was "just not tenable" for Cagney to remain in the position. All of this comes due to allegations of misconduct by Cagney, including a case of sending lewd texts to a SoFi employee.

Go deeper

Newsrooms abandoned as pandemic drags on

Illustration: Sarah Grillo/Axios

Facing enormous financial pressure and uncertainty around reopenings, media companies are giving up on their years-long building leases for more permanent work-from-home structures. Others are letting employees work remotely for the foreseeable future.

Why it matters: Real estate is often the most expensive asset that media companies own. And for companies that don't own their space, it's often the biggest expense.

2 hours ago - Technology

Dark clouds envelop feel-good Pinterest

Illustration: Eniola Odetunde/Axios

Pinterest set out to be a bright spot in cutthroat Silicon Valley, but now stands to see its reputation forever tarnished by allegations of mistreatment and a toxic culture by women who held senior roles at the company.

Why it matters: Even a company known for progressive policy decisions and successfully combatting hateful and otherwise problematic content isn't immune to the systemic problems that have plagued many tech companies.

Big Tech pushes voter initiatives to counter misinformation

Illustration: Rebecca Zisser/Axios

Tech giants are going all in on civic engagement efforts ahead of November's election to help protect themselves in case they're charged with letting their platforms be used to suppress the vote.

Why it matters: During the pandemic, there's more confusion about the voting process than ever before. Big tech firms, under scrutiny for failing to stem misinformation around voting, want to have concrete efforts they can point to so they don't get blamed for letting an election be manipulated.