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Fintech
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October 29, 2025
Tesla Urges Del. Justices To Cut $176M Atty Fee In Options Suit
Warning of a "shaking of public confidence," a Tesla Inc. attorney on Wednesday asked Delaware's Supreme Court to cut a $176.2 million class attorney fee award to $40 million in a case that saw Delaware's chancellor cancel $730 million in the electric car company's director stock options.
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October 28, 2025
Democrats Press Treasury, DOJ On Binance Founder's Pardon
Senate Democrats pressed leaders of the U.S. Department of the Treasury and the U.S. Department of Justice on how President Donald Trump's recent pardon of Binance founder Changpeng Zhao affects their ability to "hold criminals accountable," arguing in a Tuesday letter that the clemency came after a deal that "enriched" the president.
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October 28, 2025
Treasury Urged To Embrace Tech In Crypto Compliance Push
Cryptocurrency advocates and bank trade groups both urged the U.S. Department of the Treasury to issue guidance that will enable them to use novel technologies to keep up with illicit finance threats in digital asset markets, although banks cautioned the regulator to keep institutions and crypto upstarts on equal footing when it comes to burdens to fight money laundering.
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October 28, 2025
CFPB Calls Off Nonbank 'Fine Print,' Enforcement Registries
The Consumer Financial Protection Bureau on Tuesday continued its rollback of Biden-era policies, finalizing the closure of its nonbank enforcement registry and formally scrapping a plan to track financial firms' use of liability waivers and other "fine print" contract terms.
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October 28, 2025
3 Firms Guide Apex Treasury's $300M Blockchain, Crypto IPO
Special purpose acquisition company Apex Treasury Corp., guided by Perkins Coie LLP and Appleby (Cayman) Ltd., has completed a $300 million blockchain and cryptocurrency-focused initial public offering, which was supported by Pillsbury Winthrop Shaw Pittman LLP-led underwriters.
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October 28, 2025
Va. Justices Urged To Restore Record $2B Trade Secrets Win
A software company fighting to regain a $2 billion trade secrets award urged the Virginia Supreme Court on Tuesday to affirm the verdict, arguing that an appellate court was wrong to disturb the conclusions from jurors and the trial judge.
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October 28, 2025
Apple Says Fintiv IP, Racketeering Case Belongs In Texas
Apple Inc. is arguing that Texas, not Georgia, federal court is the right forum for Fintiv Inc.'s lawsuit accusing the technology giant of trade secret theft and racketeering, saying Fintiv is trying to repackage patent litigation from the Lone Star State, where Apple was partially cleared.
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October 28, 2025
Tokenization Co. Securitize Goes Public Via $1.25B SPAC Deal
Securitize, advised by Davis Polk & Wardwell LLP, on Tuesday unveiled plans to go public by merging with Hughes Hubbard & Reed LLP-advised special purpose acquisition company Cantor Equity Partners II Inc. in a deal that values the tokenization provider at $1.25 billion.
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October 27, 2025
MIT Bros Go After 'Sandwichers' In $25M Crypto Heist Trial
The CEO of Savannah Technologies on Monday took the witness stand in the trial of two MIT-educated brothers accused of stealing $25 million from the Israeli cryptocurrency trading firm and others, and quarreled with defense counsel over the appropriateness of the company's use of a controversial strategy known as sandwich trading.
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October 27, 2025
$HAWK Buyers Get Suits Over Coin Flop Consolidated
A New York federal court on Monday granted two groups of buyers of the viral "Hawk Tuah" meme-themed cryptocurrency to combine their securities suits against the meme coin's promoters and developers.
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October 27, 2025
Kalshi Sues NY Regulator Over Cease-And-Desist Letter
Trading platform Kalshi on Monday accused the New York State Gaming Commission of intruding into the federal government's regulatory authority over derivatives trading, in a lawsuit following a cease-and-desist letter it received from the state regulator for allegedly illegal sports wagering.
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October 27, 2025
Trump Taps Ex-Willkie Atty For 2nd Shot At Filling CFTC Chair
President Donald Trump has chosen a former Willkie Farr & Gallagher LLP partner and top attorney on the U.S. Securities and Exchange Commission's cryptocurrency task force to head the U.S. Commodity Futures Trading Commission, tapping the crypto industry advocate to lead an agency struggling with a leadership void.
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October 27, 2025
CFPB Says States Can't Enact Medical Debt Reporting Bans
The Consumer Financial Protection Bureau said Monday that it now believes federal law blocks efforts by states to ban medical debt from credit reports or enact most other credit reporting rules of their own, breaking sharply from its Biden-era stance on the topic.
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October 27, 2025
Ex-Startup CFO's Crypto Wire Fraud Trial Begins In Seattle
Federal prosecutors told a Seattle jury on Monday that the former chief financial officer of a Seattle-based startup committed wire fraud by funneling $35 million into his fintech venture that was wiped out during a subsequent cryptocurrency collapse, with defense counsel countering that "losing money with a bad investment is not a crime."
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October 27, 2025
PayPal Accused Of Hiding Evidence In Charity Donation Suit
PayPal has been accused of abusing confidentiality rules by mislabeling documents as secret to unjustly shield its business practices from scrutiny amid a lengthening discovery dispute in a user's federal suit over the platform's charitable distributions.
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October 27, 2025
6th Circ. Judges Question FINRA's 'Voluntary' Membership
Sixth Circuit judges probed the effect on private securities regulators of a U.S. Supreme Court decision limiting the U.S. Securities and Exchange Commission's use of in-house courts Monday, though a procedural issue may thwart the appeal.
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October 27, 2025
Robinhood User Attys Forgo Fee Over 'Unusually High' Costs
Attorneys representing Robinhood users said they will forgo fees after racking up "unusually high" costs brokering the $2 million settlement of a consolidated class action alleging the investing platform failed to disclose financial interests, affecting how customers' orders were handled.
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October 27, 2025
Catching Up With Delaware's Chancery Court
The Delaware Chancery Court and Delaware Supreme Court saw another busy week of disputes spanning biotech milestones, reincorporation showdowns, shareholder voting schemes and cryptocurrency fiduciary rights.
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October 27, 2025
Prime Core Ch. 11 Admin Says It Cashed Out Crypto For $35M
The Chapter 11 plan administrator for defunct cryptocurrency custodian Prime Core told a Delaware bankruptcy judge Monday that it raised about $35 million by selling Prime's crypto assets and expects to begin creditor distributions early next year.
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October 24, 2025
JPMorgan Accuses Charlie Javice Of 'Abusive' Atty Fee Billing
JPMorgan Chase & Co. on Friday asked a Delaware state judge to reverse a 2023 order requiring the bank to cover the legal fees of convicted Frank founder Charlie Javice, arguing that the court must put a stop to her "abusive billing."
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October 24, 2025
Fed Moves To Open Stress Test Models In 'Transparency' Push
The Federal Reserve Friday issued a package of proposals to open up its stress-testing models and scenario designs to public scrutiny, pulling back the curtain on a process that helps determine capital requirements for the nation's biggest banks.
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October 24, 2025
Crypto Boss Loses Bid To Cut Sentence Over $36M Fraud
A New York federal judge on Friday refused to further trim an eight-year prison sentence that a crypto entrepreneur has been serving for his role in a $36 million crypto-fraud scheme, citing his "history of fraudulent behavior" and a lack of circumstances "extraordinary" enough to justify a sentence reduction.
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October 24, 2025
Logan Paul Denied Win Against Crypto Zoo Co-Defendants
A Texas federal judge has released three individuals involved in Logan Paul's failed crypto project, CryptoZoo, from an investor suit, while also denying the YouTube celebrity's bid for a default judgment against two other co-founders he claimed were responsible for the venture.
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October 24, 2025
FDIC's Signage Rule Revamp Sparks Clash Over Flexibility
The Federal Deposit Insurance Corp.'s proposal to loosen Biden-era requirements for displaying its official logo on digital banking channels is drawing mixed reactions, with consumer advocates warning it goes too far while bank groups say it "does not go far enough."
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October 24, 2025
Crypto.com Joins Wave Of Crypto Trust Charter Bids
Digital asset platform Crypto.com said Friday that it has applied for a national trust charter with the Office of the Comptroller of the Currency to boost its custody services, becoming the latest crypto-focused firm to approach the OCC.
Expert Analysis
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Parody Defendants Are Finding Success Post-Jack Daniel's
Recent decisions demonstrate that, although the U.S. Supreme Court's decision in Jack Daniel's v. VIP Products did benefit trademark plaintiffs by significantly limiting the First Amendment expressive use defense, courts also now appear to be less likely to find a parodic work likely to cause confusion, says Andrew Michaels at University of Houston Law Center.
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Federal Debanking Scrutiny Prompts Compliance Questions
Recent U.S. Small Business Administration guidance sets forth requirements for preventing so-called politicized debanking and specific additional instructions for small lenders, but falls short on clarity for larger institutions, leaving lenders of all sizes with questions as they navigate this unique compliance challenge, say attorneys at Cooley.
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Series
Writing Novels Makes Me A Better Lawyer
Writing my debut novel taught me to appreciate the value of critique and to never give up, no matter how long or tedious the journey, providing me with valuable skills that I now emphasize in my practice, says Daniel Buzzetta at BakerHostetler.
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SDNY OpenAI Order Clarifies Preservation Standards For AI
The Southern District of New York’s recent order in the OpenAI copyright infringement litigation, denying discovery of The New York Times' artificial intelligence technology use, clarifies that traditional preservation benchmarks apply to AI content, relieving organizations from using a “keep everything” approach, says Philip Favro at Favro Law.
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Compliance Steps To Take As FCRA Enforcement Widens
As the Fair Credit Reporting Act receives renewed focus from both federal and state enforcers, regulatory and litigation risk is most acute in several core areas, which companies can address by implementing purpose processes and quick remediation of consumer complaints, among other steps, say attorneys at Wiley.
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6 Shifts In Trump Tax Law May Lend A Hand To M&A Strategy
Changes in the Trump administration's recent One Big Beautiful Bill Act stand to create a more favorable environment for mergers and acquisitions, including full bonus depreciation and an expanded code section, say attorneys at K&L Gates.
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How Crypto Embrace Will Affect Banks And Credit Unions
The second Trump administration has moved aggressively to promote crypto-friendly reforms and initiatives, and as the embrace of stablecoins and distributed ledger technology grows, community banks and credit unions should think strategically as to how they might use these innovations to best serve their customers, says Jay Spruill at Woods Rogers.
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Opinion
Expert Reports Can't Replace Facts In Securities Fraud Cases
The Ninth Circuit's 2023 decision in Nvidia v. Ohman Fonder — and the U.S. Supreme Court's punt on the case in 2024 — could invite the meritless securities litigation the Private Securities Litigation Reform Act was designed to prevent by substituting expert opinions for facts to substantiate complaint assertions, say attorneys at A&O Shearman.
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Glimmers Of Clarity Appear Amid Open Banking Disarray
The Consumer Financial Protection Bureau's vacillation over data rights rules has created uncertainty, but a recent proposal is a strong signal that open banking regulations are here to stay, making now the ideal time for entities to take action to decrease compliance risk, says Adam Maarec at McGlinchey Stafford.
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Opinion
High Court, Not A Single Justice, Should Decide On Recusal
As public trust in the U.S. Supreme Court continues to decline, the court should adopt a collegial framework in which all justices decide questions of recusal together — a reform that respects both judicial independence and due process for litigants, say Michael Broyde at Emory University and Hayden Hall at the U.S. Bankruptcy Court for the District of Delaware.
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FTC's Consumer Finance Pivot Brings Industry Pros And Cons
An active Federal Trade Commission against the backdrop of a leashed Consumer Financial Protection Bureau will be welcomed by most in the consumer finance industry, but the incremental expansion of the FTC's authority via enforcement actions remains a risk, say attorneys at Hudson Cook.
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What Cross-Border Task Force Says About SEC's Priorities
The formation of the U.S. Securities and Exchange Commission's cross-border task force, focused on investigating U.S. federal securities law violations overseas, underscores Chairman Paul Atkins' prioritization of classic fraud schemes, particularly involving foreign entities, say attorneys at Cleary.
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Series
Traveling Solo Makes Me A Better Lawyer
Traveling by myself has taught me to assess risk, understand tone and stay calm in high-pressure situations, which are not only useful life skills, but the foundation of how I support my clients, says Lacey Gutierrez at Group Five Legal.
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NY Zelle Suit Highlights Fraud Risks Of Electronic Payments
The New York attorney general's recent action against Zelle's parent company, filed several months after the Consumer Financial Protection Bureau abandoned a similar suit, demonstrates the fraud risks that electronic payment platforms can present and the need for providers to carefully balance accessibility and consumer protection, say attorneys at Weiner Brodsky.
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Series
Law School's Missed Lessons: Client Service
Law school teaches you how to interpret the law, but it doesn't teach you some of the key ways to keeping clients satisfied, lessons that I've learned in the most unexpected of places: a book on how to be a butler, says Gregory Ramos at Armstrong Teasdale.