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Fintech
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September 23, 2025
Banks Urge SEC To Hold Crypto Custody To Same Standards
Financial services trade groups have cautioned the U.S. Securities and Exchange Commission against broadly permitting investment advisers and state-chartered trust companies to safeguard customer's cryptocurrency assets, urging the agency to maintain equal standards for all financial custodians amid planned crypto rulemaking.
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September 23, 2025
Jersey City, Mayor Pare Back Fired Aide's Retaliation Suit
A New Jersey federal judge knocked two whistleblower claims off a lawsuit brought against Jersey City and its mayor, Stephen Fulop, by one of his former aides who alleged he was dismissed for questioning the city's investment in cryptocurrency and for supporting his conservative sister's political campaign.
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September 23, 2025
CFTC Seeks Feedback On The Use Of Crypto Collateral
The U.S. Commodity Futures Trading Commission launched an initiative on Tuesday to enable the use of certain crypto assets as collateral in derivatives markets, soliciting industry suggestions on potential pilot programs, amendments to regulations and relevant issues.
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September 23, 2025
Hedge Funds Call For CFTC To End Dual Registration
A group representing the hedge fund industry is calling on the U.S. Commodity Futures Trading Commission to drop the need for industry participants to submit to agency oversight in cases where fund managers are already registered with the U.S. Securities and Exchange Commission, calling the dual registration requirement "costly" and "inefficient."
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September 23, 2025
CFPB Frees Apple, US Bank From Biden-Era Consent Orders
The Consumer Financial Protection Bureau has lifted two more enforcement orders issued during the Biden administration, this time granting both Apple Inc. and U.S. Bank NA an early release from ongoing monitoring years ahead of schedule.
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September 23, 2025
Tether Objects To 'Unsound' Class Bid In Crypto Rigging Suit
Tether, Bitfinex and others have urged a New York federal judge not to grant certification to a class of investors accusing the digital asset companies of rigging the cryptocurrency market, arguing that the investors' expert presented an "unsound and unreliable" methodology for determining common impact, among other things.
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September 23, 2025
Cantor Fitzgerald, Citibank Hit With Trading Patent Suits
Several financial services businesses, including Citibank and Secretary of Commerce Howard Lutnick's former firm Cantor Fitzgerald, have been sued in New York and Texas federal court over their alleged infringement of a trading patent.
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September 23, 2025
FTX Trust Seeks $1B From Crypto Miner Genesis Digital
The recovery trust created under FTX's Chapter 11 plan has filed a lawsuit in Delaware bankruptcy court that aims to claw back more than $1 billion that FTX's founder invested in Genesis Digital Assets Ltd., accusing the bitcoin mining firm of overinflating its value and projections to secure the funds.
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September 23, 2025
Climate Transition-Focused SPAC Plans For $150M IPO
Special purpose acquisition company Climate Transition Special Opportunities SPAC I has filed plans with U.S. regulators to raise up to $150 million in its initial public offering, with the goal of acquiring a company in the renewable energy or specialty finance space.
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September 22, 2025
Davis Polk, Goodwin Guide $675M Bitcoin Treasury Merger
Strive Inc. announced Monday that it plans to purchase $675 million worth of bitcoin and acquire Semler Scientific Inc. in an all-stock transaction in a deal guided by Davis Polk & Wardwell LLP and Goodwin Procter LLP.
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September 22, 2025
SEC Sues NC Man For 'Free-Riding' Securities Scheme
A North Carolina man faces U.S. Securities and Exchange Commission allegations that he systematically gamed certain broker-dealers to engage in a so-called free-riding scheme that enabled him to trade nearly $900,000 worth of securities despite not actually possessing the funds to do so.
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September 22, 2025
UK, US To Collaborate On Capital Markets, Crypto Policy
The U.S. Department of the Treasury and the United Kingdom's financial ministry on Monday announced the formation of a joint taskforce to explore ways to collaborate on digital asset policy and "improve links" between the two countries' capital markets.
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September 22, 2025
Fifth Third Can Keep $30M In Escrow Fight, Judge Rules
A New York federal judge has sided with Fifth Third Bank in a $30 million escrow fight, finding its claim notice over alleged "platform fee" violations was timely and valid, in a ruling that will require the suing private equity seller to return $10 million that was already released.
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September 22, 2025
Chancery Orders New Doc Handover In Crypto Co. Merger Suit
A busted crypto-venture merger battle resurrected by Delaware's Supreme Court last year took another turn Monday with a ruling by Delaware's chancellor compelling Galaxy Digital Holdings LLC's handover of records that crypto-wallet business Bitgo Holdings Inc. said ties Galaxy to an alleged crypto pump-and-dump scheme.
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September 22, 2025
Catching Up With Delaware's Chancery Court
Last week, Match.com secured approval for a $30M settlement over its 2019 reverse spinoff from IAC, and Vice Chancellor Morgan T. Zurn urged decorum among Delaware lawyers, comparing recent legal turmoil to dark times in British monarchy history. Here's the latest from the Chancery Court.
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September 22, 2025
High Court Allows FTC Firing, Will Review Trump's Power
The U.S. Supreme Court ruled Monday that President Donald Trump can fire Democratic Federal Trade Commissioner Rebecca Slaughter without cause, and it agreed to reconsider limits on the president's authority to remove members of the FTC.
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September 22, 2025
ProPhase COVID-19 Testing Units Hit Ch. 11 In NJ
Biotechnology company ProPhase Labs Inc. put three of its COVID-19 laboratory testing subsidiaries in Chapter 11 bankruptcy Monday in New Jersey with combined liabilities of more than $13 million, saying it has been underpaid by insurance companies.
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September 19, 2025
Nevada Trust Accuses Texas Firms Of $9M Crypto Scheme
A Nevada-based trustee accused a Texas law firm and various other companies and residents of the Lone Star State, Wyoming and Florida of carrying out an "audacious, multi-layered scheme" to steal $9 million meant to be used for Bitcoin trades.
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September 19, 2025
Nvidia Objects To Class Cert. In Former High Court Case
Nvidia has urged a California federal court to not grant class certification in a case that briefly went before the U.S. Supreme Court, arguing the plaintiffs' claims that the company failed to inform investors about its reliance on the volatile crypto market are too individualized to proceed as a group.
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September 19, 2025
Goodwin, Latham Steer E-Commerce Co. Pattern's $300M IPO
Top Amazon.com reseller Pattern Group Inc. kicked off its public-market trading debut on the Nasdaq on Friday with a $300 million initial public offering guided by Goodwin Procter LLP, and Latham & Watkins LLP represented the underwriters, which include Goldman Sachs & Co. LLC and J.P. Morgan.
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September 19, 2025
SEC Dem Fears 'High-Speed Collision' In Private Markets
The U.S. Securities and Exchange Commission's sole Democrat urged the agency on Friday to pay more than "lip service" to investor protection as it considers allowing more everyday Americans to access private markets, warning that the commission was headed for a "high-speed collision" if it doesn't change course.
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September 19, 2025
Treasury Launches Stablecoin Rule Push With Call For Input
The U.S. Department of the Treasury on Friday asked for public input on key regulatory considerations for stablecoins as it begins crafting rules to govern the stable-value crypto tokens under the recently signed Genius Act.
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September 19, 2025
Shopify Looks To Toss Sezzle's 'Buy Now, Pay Later' Claims
E-commerce company Shopify Inc. seeks to sink payment platform Sezzle Inc.'s lawsuit accusing it of monopolizing the "buy now, pay later" market, arguing that the fact its platform shows "no fewer than 16 payment options" on checkout pages undermines any anticompetitive practices allegations.
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September 19, 2025
AmEx Trounces Rewards Programs Patent Infringement Suit
A New York federal judge has rejected for now a company's case accusing American Express of infringing a pair of patents covering loyalty and rewards programs, finding that the financial services giant's programs aren't doing what's covered in the asserted patent claims.
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September 19, 2025
FTX Trust Says Bankruptcy Laws Apply To Binance Founder
The recovery trust created by the Chapter 11 plan of cryptocurrency exchange FTX told a Delaware judge late Thursday that the bankruptcy court has jurisdiction over Binance and its founder in a $1.76 billion clawback suit, and that bankruptcy laws apply to entities outside the United States.
Expert Analysis
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Comparing Stablecoin Bills From UK, EU, US And Hong Kong
For multinational stablecoin issuers, navigating the differences and similarities among regimes in the U.K., EU, Hong Kong and U.S., which are currently unfolding in several key ways, is critical to achieving scalable, compliant operations, say attorneys at Morgan Lewis.
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What Baseball Can Teach Criminal Attys About Rule Of Lenity
Judges tend to assess ambiguous criminal laws not unlike how baseball umpires approach checked swings, so defense attorneys should consider how to best frame their arguments to maximize courts' willingness to invoke the rule of lenity, wherein a tie goes to the defendant, says Jonathan Porter at Husch Blackwell.
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Series
Performing As A Clown Makes Me A Better Lawyer
To say that being a clown in the Macy’s Thanksgiving Day Parade has changed my legal career would truly be an understatement — by creating an opening to converse on a unique topic, it has allowed me to connect with clients, counsel and even judges on a deeper level, says Charles Tatelbaum at Tripp Scott.
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A Guide To Permanent Capital Vehicles As Access Widens
Recent regulatory and legislative actions are making it easier for retail investors to access permanent capital vehicles like closed-end, interval, tender offer and open-end funds, which each offer distinct advantages that are important to review, say attorneys at Mayer Brown.
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How Dfinity Timeliness Ruling Can Aid Crypto Issuers
A California federal court's recent dismissal of a class action against Dfinity, holding that the claims were time-barred by the Securities Act's three-year statute of repose, provides a useful defense for cryptocurrency issuers, which often solicit investments years before minting and distributing the associated tokens, say attorneys at Paul Weiss.
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The CFTC Is Shaking Up Sports Betting's Legal Future
The sports betting industry faces a potential sea change amid recent state and federal actions across the regulatory landscape that have expanded access to sporting event contracts against the backdrop of waning Commodity Futures Trading Commission opposition, says Nick Covek at Foley & Lardner.
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Series
Law School's Missed Lessons: Rejecting Biz Dev Myths
Law schools don’t spend sufficient time dispelling certain myths that prevent young lawyers from exploring new business opportunities, but by dismissing these misguided beliefs, even an introverted first-year associate with a small network of contacts can find long-term success, says Ronald Levine at Herrick Feinstein.
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Move Beyond Surface-Level Edits To Master Legal Writing
Recent instances in which attorneys filed briefs containing artificial intelligence hallucinations offer a stark reminder that effective revision isn’t just about superficial details like grammar — it requires attorneys to critically engage with their writing and analyze their rhetorical choices, says Ivy Grey at WordRake.
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Best Practices For State Banks Eyeing Federal Conversions
Amid a notable uptick — fueled by ongoing regulatory upheaval — in state-chartered banks exploring conversion to national bank charters, banks contemplating the decision should weigh the benefits, like uniform supervision, and potential impediments, like costly exam fees, say attorneys at Skadden.
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9th Circ. Has Muddied Waters Of Article III Pleading Standard
District courts in the Ninth Circuit continue to apply a defunct and especially forgiving pleading standard to questions of Article III standing, and the circuit court itself has only perpetuated this confusion — making it an attractive forum for disputes that have no rightful place in federal court, say attorneys at Gibson Dunn.
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Series
Competing In Modern Pentathlon Makes Me A Better Lawyer
Opening myself up to new experiences through competing in modern Olympic pentathlon has shrunk the appearance of my daily work annoyances and helps me improve my patience, manage crises better and remember that acquiring new skills requires working through your early mistakes, says attorney Mary Zoldak.
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Shifting DEI Expectations Put Banks In Legal Crosshairs
The Trump administration's rollbacks on DEI-friendly policies create something of a regulatory catch-22 for banks, wherein strict compliance would contradict established statutory and administrative mandates regarding access to credit for disadvantaged communities, say attorneys at Husch Blackwell.
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Atkins' Crypto Remarks Show SEC Is Headed For A 'New Day'
A look at U.S. Securities and Exchange Commission Chairman Paul Atkins' recent speeches provides significant clues as to where the SEC is going next and how its regulatory approach to crypto will differ from that of the previous administration, say attorneys at Eversheds Sutherland.
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DOJ Memo Lays Groundwork For Healthy Bank Sponsorships
The U.S. Department of Justice's recent digital asset policy shift offers potential clarity in the murky waters of sponsor bank relationships, presenting nontraditional financial companies with both a moment of opportunity and a test of maturity, say attorneys at Arnall Golden.
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Series
Law School's Missed Lessons: Teaching Yourself Legal Tech
New graduates often enter practice unfamiliar with even basic professional software, but budding lawyers can use on-the-job opportunities to both catch up on technological skills and explore the advanced legal and artificial intelligence tools that will open doors, says Alyssa Sones at Sheppard Mullin.