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BREAKDOWN: the SEC Sues Gemini/Genesis As SBF Starts a Blog



The SEC claims the Gemini Earn program was an unregistered securities offering.

On this edition of the “Weekly Recap,” NLW looks at the Securities and Exchange Commission lawsuit against Gemini and Genesis involving the Gemini Earn program. He also sums up the recent developments around FTX, including $5 billion of recovered funds and Sam Bankman-Fried’s new Substack. 

Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26–28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit

“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Swoon” by Falls. Image credit: Mark Wilson/Getty Images, modified by CoinDesk. Join the discussion at

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Electrify America Is Raising Its Prices in March



Enlarge (credit: Electrify America)

Road-tripping in an electric vehicle might be slightly more expensive this year. On Thursday morning, Electrify America informed its user base that starting on March 6, the company will raise its prices.

“We’ve tried hard to maintain our current pricing, but rising operational and energy costs have now made adjusting our pricing necessary,” the company wrote in an email to customers. “We shall continue to maintain simple, uniform pricing across the country, and this adjustment ensures we can uphold our commitment to drive electric vehicle (EV) adoption and the future of electric mobility.”

Currently, guests (i.e., people without an Electrify America account) and Pass members pay $0.43 per kWh in states that allow billing by unit of energy. That’s increasing by 11.6 percent to $0.48 per kWh starting next month.

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Ford Follows Tesla’s Lead, Cuts Prices on Mustang Mach-E



Enlarge / It’s not been designed to be a Nürburgring taxi, but switch the Mach-E GT Performance Edition into Unbridled Extend if you’re going to autocross it. (credit: Ford)

If you’ve been on the fence about buying a new Ford Mustang Mach-E, good news: Ford has dropped prices across the lineup of its first battery-electric vehicle. At the low end, there’s a $900 drop on the RWD standard-range base model, listed at $45,995. At the other end is a $5,900 decrease for the GT Extended Range, which now carries a $63,995 MSRP.

In addition to the price cuts, Ford will also increase production of the Mustang Mach-E. The carmaker now plans to build 130,000 BEVs for the North American and European market, a massive increase from the previously planned 78,000. The production increase will in turn decrease wait times for new cars, a sticking point for drivers ready to trade hydrocarbons for electrons. Those who have already ordered new BEVs from Ford will get the lower prices as well.

2023 Mustang Mach-E
Former MSRP
Updated MSRP

Select RWD Standard Range

Select eAWD Standard Range

California Route 1 eAWD Extended Range

Premium RWD Standard Range

Premium eAWD Standard Range

GT Extended Range

Ford’s move comes just two weeks after Tesla discounted some of its models by as much as 20 percent. At the bottom of the lineup, the Model 3 RWD is now $43,990—$3,000 cheaper than it was last year. The Model Y has been heavily discounted as well, with the Long Range and Performance models seeing a $13,000 discount.

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The Flight Tracker That Powered @ElonJet Has Taken a Left Turn




Enlarge (credit: SeongJoon Cho/Bloomberg/Getty Images)

A major independent flight tracking platform, which has made enemies of the Saudi royal family and Elon Musk, has been sold to a subsidiary of a private equity firm. And its users are furious.

ADS-B Exchange has made headlines in recent months for, as AFP put it, irking “billionaires and baddies.” But in a Wednesday morning press release, aviation intelligence firm Jetnet announced it had acquired the scrappy open source operation for an undisclosed sum.

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