Changpeng Zhao built Binance into the world’s largest cryptocurrency exchange, and became one of the faces of crypto in the process. Last week, he appeared in federal court and pleaded guilty to violating U.S. anti-money-laundering laws and agreed to step down as CEO. WSJ’s Patricia Kowsmann explains what the deal means for Zhao, Binance, and the future of crypto itself. 


Further Listening:
- The Trial of Crypto’s Golden Boy 
- A Crypto Exchange Crackdown 
- The Rise of Binance - And The Effort to Reel It In 


Further Reading:
- Inside Binance’s Guilty Plea and the Biggest Fine in Crypto History 
- The World’s Biggest Crypto Firm Is Melting Down 


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The Fall of (Another) Crypto King

The most important stories about money, business and power. Hosted by Kate Linebaugh and Ryan Knutson, with Jessica Mendoza. The Journal is a co-production of Spotify and The Wall Street Journal.

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The billionaire founder showed several female employees at SpaceX an unusual amount of attention or pursued them. WSJ's Joseph Palazzolo describes the revelations.


Further Reading:
-Elon Musk’s Boundary-Blurring Relationships With Women at SpaceX 


Further Listening: 
-Money, Drugs, Elon Musk and Tesla's Board 
-Elon Musk's 'Demon Mode' 
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Elon Musk’s Unusual Relationships With Women at SpaceX

The nation’s first congestion-pricing plan was set to take effect at the end of June. But last week, New York Gov. Kathy Hochul called to indefinitely delay the program. WSJ's Jimmy Vielkind unpacks the surprising move and explores why Hochul made the 11th hour change.


Further Reading:
-New York Gov. Kathy Hochul Abruptly Halts Manhattan Congestion Pricing 


Further Listening: 
-NYC’s Food Delivery Workers Fight for a Minimum Wage 
-New York City's 'De Facto Ban' on Airbnb 
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New York’s U-Turn on a Plan to Reduce Traffic

The fast-fashion giant hoped to have a splashy U.S. public offering this year. WSJ's Shen Lu explains how the divide between Beijing and Washington got in the way.


Further Reading:
- Shein Promised to Have a Big U.S. IPO. Its China Roots Got in the Way. 
- Fast-Fashion Giant Shein Files to Go Public 


Further Listening:
- Shein Took Over Fast Fashion. Then Came the Backlash. 
- The Mysterious CEO Leading Shein to an IPO 


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Shein: Fast Fashion, Slow IPO

The rising popularity of GLP-1 drugs could cause all kinds of ripple effects. 
 According to one estimate, 9% of the U.S. population could be on Ozempic or similar medications by 2030. Meanwhile, drugmakers are already developing the next generation of weight-loss drugs and researchers are studying the possible health benefits beyond weight loss and diabetes, including addiction. 
 In the final episode of our series we ask: What could all this development mean for businesses, from the food sector to airlines? And who wins and who loses in the post-Ozempic economy? 
 Guests include: David Ricks, CEO of Eli Lilly; and Mehdi Farokhnia, an addiction researcher at the National Institutes of Health. 
 Listen to Episodes 1, 2 and 3 of “Trillion Dollar Shot” here.    Learn more about your ad choices. Visit megaphone.fm/adchoices

Trillion Dollar Shot, Episode 4: The Disruptors

There is a new contender in the cola wars, and it isn’t a cola. It’s Dr Pepper. WSJ’s Jennifer Maloney unpacks how after decades as a distant competitor, Dr Pepper has climbed the soda ranks with help from hefty marketing, novel flavors and TikTok videos.


Further Reading:
- Dr Pepper Ties Pepsi as America’s No. 2 Soda


Further Listening:
- The Agony and Ecstasy of Tab 


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The Fall of (Another) Crypto King

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