Fintech

  • June 30, 2026

    Chamber Backs Circle's Bid To Dismiss $280M Drift Hack Suit

    The Chamber of Commerce on Tuesday urged a Massachusetts federal judge to throw out claims Circle Internet Group enabled fraudsters to drain $280 million in digital assets from crypto project Drift Protocol in an April Fools' Day exploit, arguing Circle cannot be held liable because third parties misused its platform.

  • June 30, 2026

    Securities Cos. Hit With Spoofing Suit In Florida

    An investor is accusing Citadel Securities LLC and Virtu Americas LLC of securities violations in Florida federal court, saying in a proposed class action that the broker-dealer firms used the illegal trading strategy known as spoofing to artificially depress a technology company's market value, enriching themselves in the process.

  • June 30, 2026

    CFPB's Slimmer Small-Biz Data Rule Cements End To 2 Suits

    Kentucky banks and a lender trade group have dropped their parallel lawsuits over the Consumer Financial Protection Bureau's Biden-era small business loan reporting requirements, citing the agency's scaled-back version of the requirements that went into effect Tuesday.

  • June 30, 2026

    Warren Asks Capital One If CFPB Pick Had Role In Ending Suit

    A key Democratic senator is calling on Capital One to say whether its executive Brian Johnson, who is now President Donald Trump's pick to run the Consumer Financial Protection Bureau, had any role in getting the agency to drop a major lawsuit against the bank last year.

  • June 30, 2026

    Tribes Back RI As CFTC Sues Over Kalshi Betting Ban

    Indigenous rights groups are supporting Rhode Island in a challenge by the U.S. and the Commodity Futures Trading Commission that looks to block the state's efforts to prevent prediction market platforms from offering sports-related event contracts, saying the litigation could turn decades of federal law on its head.

  • June 30, 2026

    SEC Explores Rules For Novel ETFs As Filings Surge

    The U.S. Securities and Exchange Commission on Tuesday called for input on its oversight of "novel exchange-traded funds" as it contemplates potential rule updates to address the surge of unusual product filings, including those seeking to hold event contracts and crypto.

  • June 30, 2026

    Kalshi Must Face Expanded Mass. Gaming Suit, Judge Says

    Massachusetts' attorney general may amend a lawsuit alleging KalshiEX flouts state sports betting rules to add claims that the platform allowed residents under 21 to gamble and committed other violations of state law, a judge said Tuesday.

  • June 30, 2026

    Rhodium Seeks Sanctions Over Ch. 11 Patent Claim

    Bankrupt bitcoin miner Rhodium Encore on Tuesday asked a Texas bankruptcy judge to impose sanctions on cooling technology firm Midas Green Technologies, saying it spent more than $6 million fighting over Midas Green patent claims a district court judge had already dismissed.

  • June 29, 2026

    High Court Gives Fed Independence A 'Fragile' Reprieve

    The U.S. Supreme Court has thrown its weight behind Federal Reserve independence by rejecting President Donald Trump's bid to immediately oust Fed Gov. Lisa Cook, but experts say the fight over central bank control may not be finished — just moving to a new phase.

  • June 29, 2026

    Citibank Defeats Texas Man's $20M NFT Romance Scam Suit

    A New York federal judge Monday threw out a Texas man's suit accusing Citibank NA of ignoring red flags that allowed scammers to siphon nearly $4 million from his family trusts after he fell for a social media romance scam involving nonfungible tokens.

  • June 29, 2026

    Kalshi's Sports Betting Temporarily Halted In Michigan

    A Michigan judge Monday issued an order temporarily blocking Kalshi from offering sports wagers to residents, as the state's attorney general pursues a lawsuit alleging the prediction market is running an unlicensed online sports betting platform.

  • June 29, 2026

    SEC Wins $5.4M Default In 1st Crypto 'Pig Butchering' Case

    The U.S. Securities and Exchange Commission has won its first suit targeting a type of crypto scam known as pig butchering with a roughly $5.4 million default judgment against NanoBit Limited and its related entities.

  • June 29, 2026

    SEC Fines Wedbush $1.9M Over Electronic Blue Sheet Errors

    The U.S. Securities and Exchange Commission on Monday fined Wedbush Securities Inc. $1.9 million over alleged electronic blue sheet filing errors that resulted in the misreporting of EBS data for at least 51.8 million transactions.

  • June 29, 2026

    The End Of An 'Independent' FTC

    Federal Trade Commission members, responsible for merger review, antitrust enforcement, consumer protection safeguards and rulemaking, and industry analysis, no longer serve at a remove from presidential authority, thanks to Monday's U.S. Supreme Court ruling that could dramatically remake the FTC and other independent agencies.

  • June 29, 2026

    Circle Faces $232M Suit From N. Korea Victim's Family

    The family of a missionary who was kidnapped and murdered by North Korean agents is seeking to collect over $232 million from blockchain company Circle after the stablecoin issuer allegedly failed to freeze funds linked to North Korean hackers amid the April Fools' Day exploit of crypto project Drift Protocol.

  • June 29, 2026

    China Crackdown Spurred $100M Insider Trading, Suit Says

    A suit filed in New York federal court Monday alleges a group of unknown traders carried out a $100 million insider trading scheme tied to a Reuters report and other disclosures about a Chinese regulatory crackdown on cross-border securities platforms.

  • June 29, 2026

    Chinese Exile Guo Gets 30 Years For $1.4B Fraud

    Exiled Chinese businessman and dissident Miles Guo on Monday was sentenced to 30 years in prison, after a Manhattan federal jury convicted him of defrauding investors of more than $1.4 billion in connection with what prosecutors say was "a criminal enterprise built on lies."

  • June 29, 2026

    Fed. Circ. Declines WDTX Transfer Bid In Crypto Patent Case

    The Federal Circuit on Monday refused to back cryptocurrency mining company Core Scientific Inc.'s bid to move a case accusing it of infringing cryptography patents to the Western District of Texas, rejecting Core's arguments that it had clearly shown a transfer was necessary and that a magistrate judge had committed legal errors in disagreeing.

  • June 29, 2026

    Chinese Broker Futu Hit With Investor Suit Over Penalty Risk

    China-based brokerage firm operator Futu Holdings Ltd. has been hit with a proposed shareholder class action in New York federal court accusing it of concealing risks associated with its noncompliance with Chinese securities laws, causing company shares to fall by nearly a third of their value when Futu disclosed regulatory shortcomings.

  • June 29, 2026

    Fish & Richardson Faces DQ Bid In Texas Patent Suit

    A company that accused LVMH of infringing its nonfungible tokens display technology patents says Fish & Richardson PC should be blocked from representing the luxury goods giant because the firm met with the patent owner in the past.

  • June 29, 2026

    Justices Strike Down Humphrey's Presidential Firing Limits

    The president has unlimited authority to fire members of independent agencies, the U.S. Supreme Court ruled Monday in a major win for President Donald Trump's campaign against officials at the Federal Trade Commission and beyond.

  • June 29, 2026

    High Court Lets Fed's Lisa Cook Keep Job For Now

    The U.S. Supreme Court ruled Monday that Federal Reserve Gov. Lisa Cook cannot be immediately removed from her post, a setback for President Donald Trump as he seeks to further remake the central bank's leadership.

  • June 29, 2026

    Justices Turn Away Case Challenging SEC's 'Gag Rule'

    The U.S. Supreme Court on Monday said it would not hear a constitutional challenge to a now-rescinded U.S. Securities and Exchange Commission policy that prohibited defendants from denying allegations against them when settling an enforcement action with the agency.

  • June 26, 2026

    CashCall Accuses Vought's CFPB Of Settlement Rug Pull

    Lender CashCall Inc. has accused the Consumer Financial Protection Bureau of unfairly walking away from negotiations to reduce its $157 million enforcement judgment in California federal court, detailing behind-the-scenes talks that include claims the agency's top lawyer was initially angry with the company for hiring appellate attorney Paul Clement for its defense.

  • June 26, 2026

    SEC, CFTC Seek Input To Align Portfolio Margining Rules

    The U.S. Commodity Futures Trading Commission and U.S. Securities and Exchange Commission on Friday issued a joint call for feedback on ways they can align their respective portfolio margining requirements to clear the path for leveraged trading involving both equities and derivatives markets.

Expert Analysis

  • Operational AI Washing: The Section 220 Information Strategy

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    Plaintiffs filing AI washing claims will likely use Section 220 of the Delaware General Corporation Law to obtain internal board records, but 2025 amendments have fundamentally changed the landscape of presuit shareholder document demands in ways that create both risk and opportunity for companies, say attorneys at Akerman.

  • Series

    Judges On AI: How Courts Can Survive The Tech Revolution

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    Colorado Supreme Court Justice Maria Berkenkotter and Colorado Court of Appeals Judge Lino Lipinsky de Orlov discuss how artificial intelligence has already fundamentally altered the legal system and offer tips for courts navigating deepfakes, hallucinations and a gap in access to AI tools.

  • 3 AI Adoption Mistakes GCs Should Avoid

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    The pressure in-house legal teams face to quickly adopt artificial intelligence tools, combined with budget constraints and the need to evaluate a crowded market of options, sets the stage for implementation mistakes that are often difficult to undo, says former 23andMe general counsel Guy Chayoun.

  • Sentencing Tips For Defending Crypto Conspiracy Cases

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    The sentencing of Evan Tangeman to 70 months in federal prison for laundering money in a cryptocurrency conspiracy illustrates that defense attorneys representing clients in multidefendant crypto cases need to understand the mechanics of conspiracy liability, loss attribution and restitution exposure before they reach the sentencing table, says Joseph De Gregorio at Sentencing Advocacy.

  • Series

    Playing Basketball Makes Me A Better Lawyer

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    My grandfather used to say "I wear your jersey" as shorthand for wholly committing to support someone with loyalty and integrity — ideals that have shaped my life on the basketball court and in legal practice, says Tracy Schimelfenig at Schimelfenig Legal.

  • Series

    The Biz Court Digest: Georgia Court Has Business On Its Mind

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    Thanks to recent legislation, the Georgia State-wide Business Court will soon offer business litigants greater access to the court than ever before, further enhancing the court's emphasis on efficiency, predictability and accessibility for sophisticated commercial disputes, says former GSBC judge Walt Davis at Jones Day.

  • How Treasury's Stablecoin Test Will Shape State Oversight

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    The Treasury Department's recently proposed principles for judging whether state stablecoin regimes are "substantially similar" to the federal framework signal that issuers should expect stricter benchmarking against the bank agencies' standards, limited state flexibility and heightened pressure to reassess compliance as rules take shape, say attorneys at Baker McKenzie.

  • Mass. Draft Regs Signal Nationwide Scrutiny Of Junk Fees

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    Massachusetts Attorney General Andrea Campbell's new draft regulations for assisted living facilities is only her latest move in the war on junk fees — and part of a national reordering of consumer protection enforcement in which states are aggressively and creatively asserting authority, says Steve Provazza at Arnall Golden.

  • CFPB Rule Recalibrates Fair Lending Compliance

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    A close reading of the Consumer Financial Protection Bureau's new final rule on fair lending enforcement reveals a thoughtful and disciplined effort to realign enforcement with statutory text, evidentiary rigor and practical compliance realities, says Alan Kaplinsky at Ballard Spahr.

  • Operational AI Washing: A New Securities Class Action

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    In rising claims of operational AI washing — plaintiffs alleging that artificial intelligence was invoked to explain corporate business decisions in ways that may obscure underlying financial distress — earnings calls, restructuring disclosures and board-level communications will serve as key defense evidence, say attorneys at Akerman.

  • Where The Preemption Fight Over Prediction Markets Stands

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    While the Third Circuit's recent ruling in Kalshi v. Flaherty remains a significant win for the federal government in its quest to regulate prediction markets, the Fourth, Sixth and Ninth Circuits appear more skeptical, indicating that this fight is likely headed for the Supreme Court, says Johnny ElHachem at Holland & Knight.

  • 4 Emerging Approaches To AI Protective Order Language

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    Over the last year, at least five federal district courts have issued or analyzed specific protective order provisions restricting the use of generative artificial intelligence platforms with protected materials, establishing that proactive AI-specific provisions are now standard practice and demonstrating that no single model works for every case, says Joel Bush at Kilpatrick.

  • Binance Win Shows Constraints On Anti-Terrorism Act Claims

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    The Southern District of New York's recent ruling in Troell v. Binance illustrates that the Second Circuit's earlier decision in Ashley v. Deutsche Bank is holding weight with courts, and companies facing aiding and abetting risk should thus monitor evolving case law and assess exposure based on nexus allegations, say attorneys at Freshfields.

  • Understanding The Insider Trading Gap In Prediction Markets

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    While the first-ever insider trading indictment involving a prediction market — the recent prosecution of a service member involved in the capture of Nicolás Maduro — comprised extreme facts and straightforward legal theories, future cases will test the bounds of insider trading law, say attorneys at Baker McKenzie.

  • Heppner Ruling Left AI Privilege Risk For Lawyers Unresolved

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    While a New York federal judge’s recent ruling in U.S. v. Heppner resolved a privilege question surrounding client-side artificial intelligence use, it did not address how to mitigate the risks that can arise when confidential information enters the operative context of an AI system used by an attorney, says Jianfei Chen at Quarles & Brady​​​​​​​.

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