Regulations

Facebook spoils the cryptocurrency party

Cryptocurrency in the spotlight
Illustration: Sarah Grillo/Axios

Thanks to Facebook entering the space, the grown-ups have come in to turn on the lights and throw cold water on the cryptocurrency party.

The big picture: Facebook's dive into cryptocurrency with its Libra project has put digital payments squarely in the bullseye of government regulators, just as Bitcoin and other cryptos had started to rebound in value.

Alex Acosta on thin ice with Trump

Secretary of Labor Alex Acosta with President Trump
Photo: Oliver Contreras/Pool/Getty Images

President Trump defended Labor Secretary Alex Acosta yesterday for his plea deal with Jeffrey Epstein in a previous job, but Acosta doesn’t enjoy much goodwill at the White House.

The big picture: Many conservatives inside the administration don't view Acosta as one of them, and have been urging him to take aggressive deregulatory actions, per sources with direct knowledge.