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Fintech
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June 13, 2025
Quinn Emanuel Drops Binance Founder Amid $8M Fraud Suit
Quinn Emanuel Urquhart & Sullivan LLP has withdrawn as counsel for the founder of Binance amid an $8.1 million lawsuit against him, telling a Massachusetts federal judge that the former cryptocurrency exchange executive has breached an agreement with the law firm and moved for arbitration against it.
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June 13, 2025
SEC, Ripple Again Ask NY Judge To Approve Settlement
The U.S. Securities and Exchange Commission and Ripple Labs Inc. have again urged a New York federal judge to approve lower penalties against the blockchain company citing "exceptional circumstances," following the judge's previous rejection of the joint request on procedural grounds.
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June 13, 2025
MoneyGram Will Pay $250K To Finish Off ÃÛÌÒÊÓÆµ, NY Suit
MoneyGram has agreed to pay $250,000 to end a Biden-era remittance practice suit that was on its last legs after the Consumer Financial Protection Bureau pulled out of the enforcement action earlier this year, leaving the New York attorney general as the sole plaintiff.
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June 13, 2025
Celsius Founder To Drop Ch. 11 Claims After Prison Sentence
Claims asserted by Alexander Mashinsky, the founder of bankrupt cryptocurrency lender Celsius Networks, and his affiliated entities in the company's Chapter 11 case are being withdrawn and disallowed now that Mashinsky has been sentenced to prison.
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June 13, 2025
Cisco Unit Beats Infringement Suit Over Authentication Patent
A federal jury in Delaware on Friday cleared Cisco-owned security software company Duo Security Inc. of allegations it infringed a patent covering verification technology while also finding that the claims at issue were invalid.
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June 13, 2025
SEC's Atkins Selects New Leaders Across Several Divisions
The U.S. Securities and Exchange Commission on Friday named leaders to key divisions overseeing investment funds, stock exchanges and corporate accounting practices, marking the latest wave of fresh personnel brought in by new SEC Chair Paul Atkins.
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June 13, 2025
SharpLink Gaming Buys Ether Cryptocurrency Sum For $463M
Online performance marketing company SharpLink Gaming, advised by Thompson Hine LLP, announced on Friday that it has bought 176,270.69 of ether cryptocurrency for $463 million, a transaction that the company says cements it as the largest publicly traded holder of ether in the world.
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June 12, 2025
Trump Admin Parries Fed Talk As Judge Weighs NCUA Firings
A Trump administration attorney studiously deflected questions about the Federal Reserve at a Thursday court hearing on President Donald Trump's firing of two Democratic credit union regulators, leaving the central bank's independence as the elephant in the room.
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June 12, 2025
Judge Pans 'Breathtaking' ÃÛÌÒÊÓÆµ Disavowal Of Redlining Deal
An Illinois federal judge Thursday refused to allow the Trump administration to abandon a recently settled Consumer Financial Protection Bureau redlining case, calling the ÃÛÌÒÊÓÆµ's bid to refund a Chicago-area mortgage lender accused of discriminatory lending practices "breathtaking."
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June 12, 2025
Mitek's Bid To Be Cleared On USAA Patents Fails At Fed. Circ.
The Federal Circuit on Thursday barred banking software company Mitek Systems from seeking a declaration that it doesn't infringe United Services Automobile Association's mobile check-deposit patents, saying Mitek has not shown that it is likely to be sued.
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June 12, 2025
PNC Gets Fed. Circ. To Undo Its $223M Patent Loss To USAA
The Federal Circuit on Thursday wiped out two jury verdicts totaling nearly $223 million that United Services Automobile Association won against PNC Bank on mobile check deposit patents, finding the patents cover only abstract ideas.
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June 12, 2025
'My Big Coin' Operators To Pay $26M To End CFTC Claims
The Commodity Futures Trading Commission announced that the alleged orchestrators of the My Big Coin digital asset fraud scheme that swindled over $6 million from 28 investors will hand over $25.7 million to end claims against them.
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June 12, 2025
Crypto Investor Says Trading Education Firm Was A Fraud
A Denver business set up to provide investment training services was hit with a lawsuit from a Florida resident accusing it and an affiliated crypto exchange of bilking him out of hundreds of thousands of dollars while purportedly teaching him how to trade digital assets.
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June 12, 2025
Meta Eyes $14B AI Bet, Bullish Seeks IPO, And More Rumors
Facebook owner Meta is eying a $14 billion investment in Scale AI, while Bullish plans to join the recent surge in cryptocurrency-related initial public offerings and investors want to take pizza chain Papa John's private at more than $60 per share. Here, Law360 breaks down the notable deal rumors from the past week.
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June 12, 2025
Brokers Provide FINRA With Regulatory Wish List
The brokerage industry is calling for the Financial Industry Regulatory Authority to change the way it conducts arbitration, to loosen rules on customer communication and to limit which firm employees must register with the financial regulator as it considers modernizing its rules and regulations.
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June 12, 2025
Deloitte Consulting Hit With TM Suit Over AI Platform
A blockchain-focused web platform that offers artificial intelligence tools has launched a lawsuit in New York federal court accusing Deloitte Consulting of infringing its trademark rights with its generative AI services product.
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June 12, 2025
Judiciary Committee Clears Squires For Full Senate Vote
The U.S. Senate Judiciary Committee approved former Goldman Sachs intellectual property attorney John Squires to serve as U.S. Patent and Trademark Office director on Thursday, putting his nomination in the hands of the full Senate.
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June 12, 2025
Protego Ends $200M Suit Alleging Failed Crypto Bank Promise
Protego Holdings Corp. has agreed to drop a lawsuit accusing a Texas-based firm of failing to deliver on a $200 million investment pledge in its launch of a cryptocurrency bank, which never materialized because rare conditional approval from the U.S. government lapsed over financing concerns.
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June 12, 2025
Redfin Investor Seeks $450K In Fees In Merger Disclosure Suit
A Redfin investor asked a Washington federal judge to award $450,000 in legal fees to Monteverde & Associates PC and Wohl & Fruchter LLP, claiming his lawsuit was beneficial to shareholders despite the court's decision to deny his preliminary injunction request to postpone an investor vote.
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June 11, 2025
Senate Dems Probe Meta, Trump Stablecoin Plans And Deals
U.S. Sens. Elizabeth Warren and Richard Blumenthal sent a pair of letters this week asking for more information on Meta's renewed plans to launch its own stablecoin as well as details on MGX's decision to use Donald Trump's World Liberty stablecoin to make a $2 billion investment in the cryptocurrency exchange Binance.
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June 11, 2025
Del. Justices Press Atty On Earnout Damage Bid Despite Miss
Delaware Supreme Court justices focused on the basics Wednesday during data management venture STX Business Solutions LLC's bid to revive a suit that was tossed by the Court of Chancery in October and accused a buyer of skipping a profitable deal to avoid paying an "earnout" bonus of up to $5.5 million.
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June 11, 2025
Fintech Startup Chimes In With $864M IPO Above Price Range
Venture-backed fintech startup Chime Financial Inc. priced an $864 million initial public offering above its marketed range on Wednesday, represented by Wilson Sonsini Goodrich & Rosati PC and underwriters counsel Davis Polk & Wardwell LLP, furthering the IPO market's recent momentum.
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June 11, 2025
Senate Advances Stablecoin Bill As Dems Decry Swift Pace
The Senate's proposal to regulate stablecoins cleared another procedural hurdle on Wednesday with bipartisan support despite some Democratic outcry over an allegedly limited opportunity to amend the bill.
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June 11, 2025
Stripe Buying Crypto Wallet Co. Privy Amid Expansion
Privy, a startup offering crypto wallet technology for developers, said Wednesday that it will be acquired by payments company Stripe and expects to close the transaction "in the coming weeks."
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June 11, 2025
Bain Capital Drops Nearly $1.3B Bid For Craneware
Less than a month after Bain Capital disclosed it was considering a potential buyout of Scottish healthcare software company Craneware, both parties confirmed Wednesday that a nearly $1.3 billion offer is off the table.Â
Expert Analysis
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Unicoin Case Reveals SEC's Evolving Enforcement Posture
The U.S. Securities and Exchange Commission's recent fraud allegations against cryptocurrency company Unicoin send a clear message that while the Trump administration supports digital asset development, it will act decisively against deception, inflated valuations and false assurances, says David Zaslowsky at Baker McKenzie.
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GAO Report Reveals How Banks And Regulators Are Using AI
A U.S. Government Accountability Office report published last month makes clear that while both federal regulators and regulated entities like banks and credit unions are employing artificial intelligence to improve efficiency, they're maintaining some skepticism, say attorneys at Orrick.
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Series
Running Marathons Makes Me A Better Lawyer
After almost five years of running marathons, I’ve learned that both the race itself and the training process sharpen skills that directly translate to the practice of law, including discipline, dedication, endurance, problem-solving and mental toughness, says Lauren Meadows at Swift Currie.
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High Court Order On Board Firings Is Cold Comfort For Fed
The U.S. Supreme Court’s recent Trump v. Wilcox order, upholding the firings of two independent agency board members during appeal, raises concerns about the future of removal protections for Federal Reserve System members, and thus the broader politicization of U.S. monetary policy, say attorneys at Squire Patton.
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Series
Law School's Missed Lessons: Supporting A Trial Team
While students often practice as lead trial attorneys in law school, such an opportunity likely won’t arise until a few years into practice, so junior associates should focus on honing skills that are essential to supporting a trial team, including organization, adaptability and humility, says Lucy Zelina at Tucker Ellis.
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ÃÛÌÒÊÓÆµ Industry Impact Uncertain Amid Priority Shift, Staff Cuts
A recent enforcement memo outlines how the Consumer Financial Protection Bureau's regulatory agenda diverges from that of the previous administration, but, given the bureau's planned reduction in force, it is uncertain whether the agency will be able to enforce these new priorities, say attorneys at Troutman Pepper.
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Lessons From FTC Action On Dark Patterns In User Interfaces
The Federal Trade Commission's recent complaint against Uber for its billing and cancellation practices comes amid other actions addressing consumer confusion and deception, so it is paramount to deploy tools that assess customers' cognitive states of mind to separate lawful marketing from misconduct, says Ceren Canal Aruoba at Berkeley Research Group.
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SEC Staff Input Eases Path For Broker-Dealer Crypto Activities
Recent guidance from U.S. Securities and Exchange Commission staff on broker-dealer and transfer agent crypto-asset activities suggests a more constructive regulatory posture on permissibility and application of financial responsibility rules, bringing welcome clarity for blockchain market participants and traditional financial institutions alike, say attorneys at Sidley.
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Series
Adapting To Private Practice: From US Attorney To BigLaw
When I transitioned to private practice after government service — most recently as the U.S. attorney for the Eastern District of Virginia — I learned there are more similarities between the two jobs than many realize, with both disciplines requiring resourcefulness, zealous advocacy and foresight, says Zach Terwilliger at V&E.
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How The DOJ Is Redesigning Its Approach To Digital Assets
Two key digital asset enforcement policy pronouncements narrow the Justice Department's focus on threats like fraud, terrorism, trafficking and sanctions evasion and dial back so-called regulation by prosecution, but institutions prioritizing compliance must remember that the underlying statutory framework hasn't changed, say attorneys at Blank Rome.
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The Ins And Outs Of Consensual Judicial References
As parties consider the possibility of judicial reference to resolve complex disputes, it is critical to understand how the process works, why it's gaining traction, and why carefully crafted agreements make all the difference, say attorneys at Pillsbury.
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Calif. Digital Assets Proposal Provides Only Partial Clarity
Recently proposed regulations under California's Digital Financial Assets Law answer some important questions about the new regime, particularly regarding its interaction with the state's money transmission law, but many key compliance questions remain, say attorneys at Stinson.
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Staying The Course Amid Seismic DOJ White Collar Changes
While some of the big changes at the U.S. Department of Justice during the second Trump administration — like an embrace of cryptocurrency and more politicized prosecutions — were expected, there have also been surprises, so practitioners should advise clients to stay focused on white collar compliance in this unpredictable environment, say attorneys at Keker.
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Opinion
The BigLaw Settlements Are About Risk, Not Profit
The nine Am Law 100 firms that settled with the Trump administration likely did so because of the personal risk faced by equity partners in today's billion‑dollar national practices, enabled by an ethics rule primed for modernization, says Adam Forest at Scale.
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Series
Brazilian Jiujitsu Makes Me A Better Lawyer
Competing in Brazilian jiujitsu – often against opponents who are much larger and younger than me – has allowed me to develop a handful of useful skills that foster the resilience and adaptability necessary for a successful legal career, says Tina Dorr of Barnes & Thornburg.