💡 Axios PM: What Sinema's thinking

Plus: Crypto scoop | Friday, December 09, 2022

Open in app View in browser   Presented By Business Roundtable   Axios PM By Mike Allen · Dec 09, 2022 Good afternoon and happy Friday. Today's newsletter, edited by Sam Baker and copy edited by Sheryl Miller, is 440 words, a 2-minute read     1 big thing: Why Sinema left Photo: Drew Angerer/Getty Images Sen. Kyrsten Sinema's decision to leave the Democratic Party was long in the making, but she waited until after the midterms to avoid interfering in ongoing races, sources familiar with her move tell Axios' Alayna Treene. What they're saying: The Arizonan hopes that becoming an Independent will free her from any expectations that she'll side with Democrats, and it'll help carve out an identity as a bipartisan broker, the sources said. "It's kind of a helpful reset of expectations," former Sinema aide John LaBombard told Axios. "Anyone who assumed at any point that moderates in our party would always just fall in line and do what the most vocal and loudest voices in our party wanted them to do was never a reasonable expectation." What we're watching: Sinema says she won't caucus with Democrats — as do Independent Sens. Angus King and Bernie Sanders — but that her new party affiliation will not impact the way she votes and that she'll continue to support President Biden's nominees. Go deeper.     2. Scoop: SBF funded crypto news site Photo illustration: Sarah Grillo/Axios. Photo: Eva Marie Uzcategui/Bloomberg via Getty Images   Sam Bankman-Fried's cryptocurrency trading firm secretly funded The Block, a news site that purported to cover the crypto world independently, Axios Media Trends author Sara Fischer scoops. One $16 million batch of funding was used in part to purchase an apartment in the Bahamas for The Block's CEO, Michael McCaffrey, according to sources familiar with the transactions. LLCs controlled by McCaffrey received three loans from Alameda Research, Bankman-Fried's trading firm, totaling more than $40 million. The fallout: Employees of The Block were previously unaware of the payments and are livid about the secret now that they've found out — especially as they continue to cover the repercussions of FTX's collapse. Go deeper.     A message from Business Roundtable 50 years of advocating for a stronger America     Business Roundtable CEOs work closely with policymakers to solve the major economic challenges facing the country. They lead companies that account for 24% of U.S. GDP. Learn more about the policy priorities of Business Roundtable CEOs.     3. Catch up quick A temporary memorial at George Floyd Square last year. Photo: Christian Monterrosa/Bloomberg via Getty Images The city of Minneapolis will buy the gas station at the intersection where George Floyd was killed and turn it into a memorial. (AP) Maxwell Frost, soon to be the first Gen Z member of Congress, says he was denied an apartment in Washington because of his credit. Go deeper. Croatia knocked Brazil out of the World Cup. (AP)     4. 1 fun thing: "Goonies" house sells Image: RETO Media via AP Hey you guys ... The Astoria, Oregon, home featured prominently in the movie "The Goonies" has sold to a fan of the film who intends to preserve the house, AP reports. It's become a magnet for "Goonies" fans — attracting 1,500 daily visitors in 2015, the film's 30th anniversary. Astoria celebrates Goonies Day every year on the film's release date, June 7. The Victorian home listed for $1.7 million, per AP. The buyer's identity is not yet known.     A message from Business Roundtable 50 years of promoting a thriving U.S. economy     With the country facing new challenges, Business Roundtable CEOs remain focused on spurring job creation, improving U.S. competitiveness and strengthening our economy. Business Roundtable member companies support 37 million American jobs. Learn more about their economic impact.   Are you a fan of this email format? Your essential communications — to staff, clients and other stakeholders — can have the same style. Axios HQ, a powerful platform, will help you do it.   Axios thanks our partners for supporting our newsletters. If you're interested in advertising, learn more here. Sponsorship has no influence on editorial content. Axios, 3100 Clarendon B‌lvd, Arlington VA 22201   You received this email because you signed up for newsletters from Axios. Change your preferences or unsubscribe here.   Was this email forwarded to you? Sign up now to get Axios in your inbox.   Follow Axios on social media: