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Fintech
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August 11, 2025
Judge To Order Bond, Sanctions In Crypto Miner's Ch. 11
A Delaware bankruptcy judge said Monday she would require the creditors that petitioned to force a cryptocurrency mining operation into Chapter 11 to post a multimillion-dollar bond in case their petition is dismissed.
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August 11, 2025
3 Firms Guide Western Union's $500M Purchase Of Intermex
Financial services firm Western Union Co. will acquire money transfer service International Money Express Inc., known as Intermex, in a $500 million all-cash deal led by Sidley Austin LLP, Holland & Knight LLP and Cravath Swaine & Moore LLP.
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August 11, 2025
Catching Up With Delaware's Chancery Court
Nielsen Holdings Ltd. and consumer intelligence spinoff Nielsen Consumer IQ agreed to end their dispute, a sole investor asked the court to name him lead plaintiff in a suit challenging Endeavor's $13 billion take-private deal, and the Chancery Court announced a new, automated case assignment regime. Here's the latest from the Delaware Chancery Court.
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August 11, 2025
FTX Customers Aim To Beef Up Case Against Fenwick & West
New information that has emerged since customers of the now-collapsed cryptocurrency trading platform FTX Trading Ltd. sued Fenwick & West LLP over the firm's alleged role in that collapse justifies updating the complaint against the firm, those customers told a Florida federal court Monday.
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August 11, 2025
Rising Star: Latham's Jack McNeily
Jack McNeily of Latham & Watkins LLP defended the former chief technology officer of cryptocurrency exchange BitMEX in one of the U.S. government's flagship crypto enforcement cases, earning him a spot among the fintech attorneys under age 40 honored by Law360 as Rising Stars.
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August 11, 2025
Crypto Co. Kraken's Litigation Lead Departs After 6 Years
The deputy general counsel who headed litigation at crypto exchange Kraken is stepping down from the role after helping steer it through multiple battles with federal regulators.
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August 11, 2025
Terraform Founder Set To Plead Out Of $40B Fraud Case
Terraform founder Do Kwon is on track to enter a guilty plea in his $40 billion criminal fraud case, a Manhattan federal judge said Monday, in an order that comes ahead of a scheduled 2026 trial and amid weeks of talks between his lawyers and prosecutors.
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August 11, 2025
Photographer Says Media Co. Misued His Bitcoin Photo
A professional photographer sued financial media company Benzinga on Monday in Michigan federal court, accusing it of wrongfully using one of his copyrighted photos featuring bitcoin iconography in its online content.
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August 08, 2025
sa¹ú¼Ê´«Ã½ Preps Complaint Against Failed Fintech Firm Synapse
The Consumer Financial Protection Bureau is getting ready to file a complaint against bankrupt Synapse Financial Technologies on allegations it failed to properly keep track of consumer funds and left as much as $90 million in consumer funds unrecovered, the fintech firm's trustee has told a bankruptcy judge in California.
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August 08, 2025
Frank Founder, Exec Can't Undo JPMorgan Fraud Convictions
Charlie Javice, the startup founder convicted of lying to JPMorgan Chase ahead of its $175 million purchase of her college-aid website Frank, and her former colleague have failed to show good reasons why they should now be acquitted, the judge on her case has found.
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August 08, 2025
Ripple Exits SEC Case With An Injunction Still Over Its Head
The U.S. Securities and Exchange Commission's long-running case against Ripple Labs has finally come to an end with both sides agreeing to drop competing appeals, but the crypto firm's inability to shake a court-ordered judgment leaves it potentially vulnerable to future enforcement actions.
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August 08, 2025
Tornado Cash Case Far From Over With Jury's Mixed Verdict
The split verdict in the Tornado Cash trial likely won't encourage prosecutors to go after crypto projects for failing to register as money transmitters, but it may still leave software developers open to liability if they seem aware of others' misuse of their creations.
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August 08, 2025
GOP Sens. Call For Overhaul Of Bank Supervisory Warnings
Republican senators are pressing federal regulators for an overhaul of how they flag and track supervisory concerns at banks, warning that the current system of confidential notices lacks legal grounding and is "increasingly opaque, ineffective and inconsistent."
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August 08, 2025
Doxo Can't Send Customer Class Action To Arbitration
A Washington federal judge declined to toss a suit against online bill-pay service Doxo Inc., saying the company waited too long — nearly a year — to try to enforce a newly added arbitration clause, and thus waived its right to compel arbitration in the suit alleging it deceived customers by not disclosing fees upfront.
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August 08, 2025
CFTC Blesses Another Event Betting Website
U.S. Commodity Futures Trading Commission staff has announced they will not pursue enforcement actions against a prediction market company set to launch as a designated contract market, allowing the company to move forward with permitting users to bet on real-world events, such as entertainment and public policy.
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August 08, 2025
Google Loses Bid To Send Patent Case From WDTX To Calif.
A Western District of Texas magistrate judge has refused to ship to California a lawsuit accusing Google of infringing patents covering ways to safely do financial transactions on a mobile device, finding the tech giant failed to show the Golden State was more convenient.
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August 07, 2025
sa¹ú¼Ê´«Ã½ Mulls Cuts To Oversight Reach In 4 Nonbank Markets
The Consumer Financial Protection Bureau is considering formally scaling back the reach of its nonbank oversight, floating a series of early stage proposals that contemplate sharply reducing the number of firms it would supervise in four key financial services markets.
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August 07, 2025
Crypto Buyers Win Class Cert. Against Kardashian, Celebs
EthereumMax buyers accusing celebrities of promoting the cryptocurrency allegedly used in a pump-and-dump scheme can certify subclasses in four states, but not their nationwide class, a federal judge ruled, agreeing with famed boxer Floyd Mayweather Jr. that there's a risk of California and Florida securities laws being inappropriately applied outside those states.
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August 07, 2025
ND Judge Strikes Down Fed's Debit Card Fee Regulation
A North Dakota federal judge has invalidated the Federal Reserve's regulation limiting certain debit card fees charged in merchant transactions, ruling in favor of a truck stop and convenience store in finding that the Fed had attempted to "improperly repackag[e] the defunct-Chevron deference under a different name."
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August 07, 2025
Fintiv Says Apple's 'Trojan Horse' Stole Mobile Wallet Tech
Fintiv Inc. upped the ante Wednesday in its mobile wallet technology litigation against Apple Inc., accusing it in a new lawsuit of "theft and racketeering of monumental proportions" just days after a Texas federal judge called off a looming patent trial between the companies.
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August 07, 2025
Trump Taps Economic Adviser Miran For Fed Board Vacancy
President Donald Trump said Thursday that he has chosen Stephen Miran, the chairman of his Council of Economic Advisers, to fill a vacancy on the Federal Reserve's Board of Governors until early 2026 while continuing to search for a permanent replacement.
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August 07, 2025
Binance Partner To Pay $48.5M For Compliance Failure Claims
Cryptocurrency trust Paxos Trust Co. has agreed to pay a $26.5 million fine and place $22 million into beefing up its compliance program in a settlement with a New York regulator over its anti-money laundering policies and other alleged due diligence failures related to its stablecoin partnership with crypto exchange Binance.
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August 07, 2025
Crypto Biz Ripple Snags VC-Backed Rail In $200M Deal
Enterprise blockchain and crypto solutions company Ripple on Thursday unveiled plans to buy venture capital-backed global payments platform Rail in a $200 million deal.
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August 07, 2025
Trump 'Debanking' Order Calls For Scrutiny Of Bank Practices
President Donald Trump on Thursday directed federal regulators to investigate and potentially punish banks if they have turned away customers based on their political or religious beliefs, escalating his administration's crackdown on so-called debanking.
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August 07, 2025
Trump Greenlights Private Equity, Crypto 401(k) Investing
President Donald Trump signed an executive order Thursday that aims to make it easier for retirement plans to invest in a wider range of assets, including cryptocurrency, private equity and real estate.
Expert Analysis
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Series
Playing Mah-Jongg Makes Me A Better Mediator
Mah-jongg rewards patience, pattern recognition, adaptability and keen observation, all skills that are invaluable to my role as a mediator, and to all mediating parties, says Marina Corodemus.
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Series
Law School's Missed Lessons: Navigating Client Trauma
Law schools don't train students to handle repeated exposure to clients' traumatic experiences, but for litigators practicing in areas like civil rights and personal injury, success depends on the ability to view cases clinically and to recognize when you may need to seek help, says Katie Bennett at Robins Kaplan.
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What To Expect As UK, US Gov'ts Develop Stablecoin Policies
While the U.K. and U.S. governments’ policies both suggest that fiat-backed stablecoins can improve efficiency and safety in payments systems, a perception that crypto-assets remain high risk means consumers are unlikely to use them in significant volume anytime soon, say lawyers at Cadwalader.
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Series
Texas Banking Brief: All The Notable Legal Updates In Q2
In the second quarter of 2025, the Texas Business Court's newly expanded jurisdiction set the stage for rising caseloads, while the state Legislature narrowed an exception to state bank control requirements and closed a cryptocurrency dividends payments loophole, say attorneys at Mayer Brown.
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Opinion
4 Former Justices Would Likely Frown On Litigation Funding
As courts increasingly confront cases involving hidden litigation finance contracts, the jurisprudence of four former U.S. Supreme Court justices establishes a constitutional framework that risks erosion by undisclosed financial interests, says Roland Eisenhuth at the American Property Casualty Insurance Association.
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Quantifying Trading-Based Damages Using Price Impact
The U.S. Securities and Exchange Commission will likely increasingly rely on price impact analyses to demonstrate pecuniary harm from trading-related misconduct, meaning measuring price impact will be helpful in challenging SEC disgorgement, determining appropriate remedies, and assessing loss causation and damages in private litigation, says Vyacheslav Fos at Boston College and Erin Smith at Compass Lexecon.
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Congress Crypto Movement Could Bring CFTC 'Clarity' At Last
The Clarity Act's arrival at the House floor during "Crypto Week" in Congress demonstrates enduring bipartisan support for legislation addressing digital assets and the Commodity Futures Trading Commission's important role in a future regulatory structure, say attorneys at DLA Piper.
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Practical Implications Of SEC's New Crypto Staking Guidance
The U.S. Securities and Exchange Commission's recent staff guidance that protocol staking does not constitute securities offerings provides a workable compliance blueprint for crypto developers, validators and custodial platforms willing to keep staking strictly limited to protocol-driven rewards, say attorneys at Cahill.
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Stablecoin Bills Present Opportunities, Challenges For Banks
Stablecoin legislation that Congress is expected to adopt in the coming weeks — the GENIUS and STABLE Acts — would create openings for banks to engage in digital asset activities, but it also creates a platform for certain tech-savvy nonbanks to directly compete, say attorneys at Arnold & Porter.
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How Attys Can Use AI To Surface Narratives In E-Discovery
E-discovery has reached a turning point where document review is no longer just about procedural tasks like identifying relevance and redacting privilege — rather, generative artificial intelligence tools now allow attorneys to draw connections, extract meaning and tell a coherent story, says Rose Jones at Hilgers Graben.
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Opinion
GENIUS Act Could Muck Up Insolvency Proceedings
While some of the so-called GENIUS Act's insolvency provisions are straightforward, others run the risk of jeopardizing the success of stablecoin issuers' insolvency proceedings and warrant another look from Congress, say attorneys at Morgan Lewis.
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Series
Calif. Banking Brief: All The Notable Legal Updates In Q2
The second quarter saw California become a more active protector of consumers in response to federal regulatory pullback, with regulators proposing a licensing framework for digital asset businesses, ending an enforcement exemption and otherwise signaling further expansions of oversight and enforcement, say attorneys at Stinson.
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Capital One Deal Approval Lights Up Path For Bank M&A
The federal banking regulators' recent approval of Capital One's acquisition of Discover signals the agencies' willingness to approve large transactions and a more favorable environment generally for bank mergers under the Trump administration, say attorneys at Arnold & Porter.
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Series
Playing The Violin Makes Me A Better Lawyer
Playing violin in a string quartet reminds me that flexibility, ambition, strong listening skills, thoughtful leadership and intentional collaboration are all keys to a successful legal practice, says Julie Park at MoFo.
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Series
NY Banking Brief: All The Notable Legal Updates In Q2
In the second quarter of the year, New York utilized every available tool to fill gaps left by federal retrenchment from consumer finance issues, including sweeping updates to its consumer protection framework and notable amendments to cybersecurity rules, say attorneys at Steptoe.