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Illustration: Rebecca Zisser/Axios

On Thursday, Bitcoin Cash, itself a "fork" (or clone) of the original Bitcoin, split into two versions that will go their separate ways, and create their separate sets of headaches for users. But here's what else happened in the industry this week.

Catch up quick: Cryptocurrency scams are thriving on Twitter eight months after it said it was working to eliminate them; two initial coin offering issuers settle Securities and Exchange Commission registration charges; and Nvidia nurses a "crypto hangover" as demand for mining chips evaporates.

Cryptocurrency scams are thriving on Twitter eight months after it said it was working to eliminate them (BuzzFeed)

  • Why it matters: Scammers on social media networks are taking advantage of two weaknesses at the same time. The first is the frenzy and lack of information about cryptocurrencies that are making it easy for people to buy into scams because they believe they can make a quick buck. The second is that social networks like Twitter still have a lot of work to do to keep this type of abuse completely at bay.

Two ICO issuers settle SEC registration charges, agree to register tokens as securities (SEC website)

  • Why it matters: "These are the Commission’s first cases imposing civil penalties solely for ICO securities offering registration violations," the commission wrote in its announcement. It added that both issuers, Airfox and Paragon, conducted their ICOs after the SEC issued its report last year warning the industry that some could qualify as securities.

Nvidia nurses 'crypto hangover' as demand for mining chips evaporates (CNBC)

  • Why it matters: The ups and downs of cryptocurrency prices have business consequences beyond their direct investors, as Nvidia's challenges shows. Similarly, investors had concerns over the valuation of cryptocurrency exchange Coinbase, as Axios previously reported, due to its exposure to digital token prices.

Go deeper

58 mins ago - Health

CDC says some immunocompromised people can get fourth COVID shot

Photo: Noriko Hayashi/Bloomberg via Getty Images

The Centers for Disease Control and Prevention said in updated guidelines Tuesday that some immunocompromised people who have received either Pfizer or Moderna's COVID-19 vaccines will be able to get a fourth shot.

Details: People over 18 who are "moderately to severely immunocompromised" and have received three doses of an mRNA vaccine may get a fourth shot (of either the Pfizer, Moderna, or Johnson & Johnson vaccines) at least six months after getting their third Pfizer or Moderna dose, per the CDC.

2 hours ago - Politics & Policy

Scoop: Biden plan expected to include at least $500B for climate

Photo: Stephanie Keith/Bloomberg via Getty Images

The White House is privately telling lawmakers the climate portion of President Biden's roughly $2 trillion social spending plan is "mostly settled" and will likely cost more than $500 billion, two sources familiar with the talks tell Axios.

Why it matters: A pricetag of $500-$555 billion is a huge number and, if it holds, would likely be the single biggest component of the sweeping package. It also isn't far off from the roughly $600 billion proposed when the bill was expected to cost $3.5 trillion.

2 hours ago - World

U.S. presses Gulf countries to help resolve Sudan coup crisis

Jake Sullivan briefs the press. Photo: Chip Somodevilla/Getty

The Biden administration has asked its partners in the Gulf and elsewhere to press the Sudanese generals who carried out a coup on Monday to release captives including Prime Minister Abdallah Hamdok and to reinstate the civilian government, White House National Security Adviser Jake Sullivan said in a press briefing on Tuesday.

Why it matters: The U.S. has limited influence over coup leader Gen. Abdul Fattah al-Burhan and other military leaders, many of whom have close ties to Saudi Arabia and the United Arab Emirates.

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