The great American battery boom… Companies are investing billions in the US battery biz, and it’s all for EVs: last week Honda and LG Energy announced plans to build a $4.4B US EV battery plant, Toyota pledged an extra $2.5B to its US battery factory, and Bosch said it'll spend $200M to build fuel cells in South Carolina. GM, Stellantis, and Hyundai have committed billions to made-in-USA batteries, taking advantage of billions in EV funding through President Biden’s infrastructure and climate bills to gain juice in the e-race.
Congress has crypto q’s… The SEC's not the only one demanding answers from crypto's top players. Last week the House Committee on Oversight and Reform sent letters to FTX, Binance, and Coinbase asking how they’re protecting customers from scams (industry-wide, $1B+ has been reported stolen since 2021). The committee also hit up regulators and the Treasury Department to find out what they’re doing to keep consumers safe. Reply due date: September 12. Meanwhile, a bill to regulate stablecoins is heading to the CA governor's desk. Legislators may be done sitting on the sidelines.