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Fintech
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October 21, 2025
Citadel Securities Asks 11th Circ. To Scope SEC's IEX Order
Citadel Securities has petitioned the Eleventh Circuit to review the U.S. Securities and Exchange Commission's recent approval of a new options exchange called IEX Options, following a comment letter the broker-dealer sent to the regulator stating that IEX "seeks approval for an unprecedented quote-canceling scheme in the U.S. options market."
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October 21, 2025
Chime Seeks Exit From Class Suit Over 'Refer A Friend' Texts
Online banking company Chime seeks to shed a proposed class action alleging its "refer a friend" texts violate Washington's Consumer Electronic Mail Act, arguing that its text referrals fit "squarely" within the anti-spam law's statutory exemption for legitimate business activities.
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October 21, 2025
Crypto Trader Says He Thought MIT Bros.' $25M Win Was Legit
A former quantitative trader for two MIT-educated cryptocurrency entrepreneurs told a Manhattan federal jury Tuesday he didn't believe at the time that they were doing anything illegal when executing a strategy to obtain $25 million at the expense of other traders on the Ethereum blockchain.
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October 21, 2025
Crypto Miner Bgin Blockchain Prices Downsized $30M IPO
Cryptocurrency mining company Bgin Blockchain Ltd. on Monday announced the pricing of its initial public offering, saying that it now expects to raise roughly $30 million, or $6 per share, about $20 million less than it initially projected.
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October 21, 2025
Senate GOP Bill Would Hike AML Reporting Thresholds
U.S. Senate Republicans have unveiled a bill that would raise decades-old transaction reporting thresholds under the Bank Secrecy Act, seeking to overhaul key anti-money laundering requirements that they say have buried banks and credit unions in "red tape."
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October 21, 2025
Chancery Mulls 'Sufficiency' Ruling In Squarespace Doc Suit
An attorney for a former stockholder of website hosting venture Squarespace Inc. told a Delaware vice chancellor Tuesday that the Chancery Court's senior magistrate erred in declining to order a release of emails for a books and records investigation focused on the company founder's role in a $7.2 billion take-private sale.
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October 21, 2025
2nd Circ. Weighs Reviving Signature Bank Investor Suit
The Second Circuit quizzed an FDIC attorney Tuesday over the agency's ability to stop Signature Bank's former shareholders from suing following the bank's collapse, with the judges considering whether to revive a lawsuit accusing Signature's brass and its outside auditor of failing to warn investors about its liquidity problems.
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October 21, 2025
Ex-Crypto Exec Claims Stablecoin Venture Betrayed Him
A former executive of a cryptocurrency company has launched a Delaware Chancery Court suit accusing its controlling members of fraudulently coercing him into signing away his rights and then usurping the company's planned stablecoin venture for themselves, breaching their fiduciary and contractual duties to both him and the firm.
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October 21, 2025
CFTC's Pham Expects Spot Crypto Trading By End Of Year
Acting U.S. Commodity Futures Trading Commission Chair Caroline Pham said Tuesday the agency is moving quickly to implement the White House's recommendations for enabling digital asset trading and innovation, with listed spot crypto trading expected to go live this year.
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October 21, 2025
Coinbase Pays $375M For Echo Amid 'Full-Stack' Crypto Push
Coinbase said Tuesday it has acquired blockchain fundraising platform Echo for approximately $375 million, as the cryptocurrency giant makes its latest push to create a "full-stack" solution for crypto investors.
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October 20, 2025
Calif. Credit Cardholders Can't Get Swipe Fee Case Do-Over
A New York federal judge who was recently assigned to a putative interchange fee class action lawsuit from California cardholders against Visa, Mastercard and major banks in long-running multidistrict litigation has denied their motion for reconsideration of another judge's reconsideration denial.
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October 20, 2025
OCC Chief Says Stablecoin Drain Wouldn't 'Happen Overnight'
A top U.S. banking regulator on Monday downplayed concerns that future growth in interest-earning payment stablecoins could bleed banks of deposits, saying any such shift would be gradual and closely watched by regulators, not a sudden shock to the system.
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October 20, 2025
Green Dot Investors Seek First OK For $40M Settlement
Shareholders of financial technology company Green Dot are seeking an initial nod for their $40 million deal ending proposed class action claims accusing the company of concealing declining prepaid card sales amid competition from digital banking alternatives.
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October 20, 2025
Suspended Pa. Atty Admits To Crypto Scam Role With Brother
A suspended Pennsylvania attorney pled guilty in federal court Monday to conspiracy and wire fraud, after prosecutors say he and his brother diverted funds that investors intended for cryptocurrency investment fund High Street Capital Fund USA LP into their personal accounts or another entity they controlled, Hvizdzak Capital Management.
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October 20, 2025
Bank Seeks Atty Fees For 'Vexatious' Patent Suit
CIBC Bank has asked a Texas federal court to impose sanctions on a rival litigant, its principal and one of its attorneys, saying the patent claims they brought were "vexatious and substantively unsuccessful in every single aspect."
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October 20, 2025
Catching Up With Delaware's Chancery Court
This past week, the Delaware Chancery Court and Supreme Court handled a crowded corporate docket, weighing blockbuster merger appeals, shareholder settlement objections, fights over control involving an NBA franchise and a high-profile appeal from Elon Musk involving a massive payday from Tesla.
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October 20, 2025
Crypto Exchange To Go Public Via $1B SPAC Merger
Davis Polk & Wardwell LLP-led digital asset treasury Evernorth Holdings Inc. on Monday unveiled plans to go public through a merger with special purpose acquisition company Armada Acquisition Corp II, advised by Wilson Sonsini Goodrich & Rosati PC, in a deal that is expected to raise over $1 billion in gross proceeds.
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October 17, 2025
Quant Trader Tells Jury Of MIT Grads' $25M Crypto Ruse Plan
A quantitative trader and former employee of two MIT-educated crypto entrepreneurs Friday told a Manhattan federal jury of how they planned months in advance to leverage a software glitch to obtain $25 million at the expense of other crypto traders on the Ethereum blockchain.
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October 17, 2025
DC Circ. Denies DOJ Bid For Shutdown Delay In CFPB Case
The D.C. Circuit said Friday it will not delay briefing in the Consumer Financial Protection Bureau layoffs case as the government shutdown drags on, rejecting a Trump administration request for a deadline extension tied to the lapse in federal funding.
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October 17, 2025
Chamber Urges 5th Circ. To Rehear Ex-Bank CEO's FDIC Case
The U.S. Chamber of Commerce and other libertarian advocacy groups urged the Fifth Circuit on Friday to reconsider a panel ruling shielding the Federal Deposit Insurance Corp.'s in-house courts from a constitutional challenge, arguing the decision defies U.S. Supreme Court precedent and leaves bank officials "trapped in the bureaucratic machinery" of juryless agency prosecutions.
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October 17, 2025
John Hancock, UBS Settle $600K Data Breach Class Action
UBS Financial Services Inc., John Hancock Investment Management LLC and their marketing vendor DG3 North America Inc. have gotten a final nod for their $600,000 deal ending customer claims stemming from a DG3 data breach.
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October 17, 2025
Bankers Lobby Warns Of 'Operational Crises' From Penny Halt
A banking industry group on Friday urged leaders of the Federal Reserve and the U.S. Department of the Treasury to swiftly address "operational crises" the institutions say have arisen from a policy restricting penny deposits at coin terminals as the U.S. phases out the one-cent coin.
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October 17, 2025
Kabbage Targets Ex-Execs, AmEx In $746M Ch. 11 Clawback
The bankruptcy estate handling the wind-down of former financial services provider Kabbage Inc. sued American Express and Kabbage's former directors and shareholders in an attempt to claw back $746 million that was transferred to American Express as part of a 2020 merger between the two companies.
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October 17, 2025
Newsmax To Build Crypto Reserve With Bitcoin, Trump Coin
Newsmax Inc. plans to purchase up to $5 million worth of bitcoin and President Donald Trump's meme coin in the coming year, joining the ranks of public companies adding cryptocurrency to their strategic reserve.
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October 17, 2025
Federal Courts To Scale Back Operations Amid Shutdown
The federal court system has run out of money and will scale back operations beginning Monday as a result of the ongoing government shutdown, possibly leading to case delays.
Expert Analysis
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State Crypto Regs Diverge As Federal Framework Dawns
Following the Genius Act's passage, states like California, New York and Wyoming are racing to set new standards for crypto governance, creating both opportunity and risk for digital asset firms as innovation flourishes in some jurisdictions while costly friction emerges in others, say attorneys at Sheppard Mullin.
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Parenting Skills That Can Help Lawyers Thrive Professionally
As kids head back to school, the time is ripe for lawyers who are parents to consider how they can incorporate their parenting skills to build a deep, meaningful and sustainable legal practice, say attorneys at Alston & Bird.
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Series
Teaching Trial Advocacy Makes Us Better Lawyers
Teaching trial advocacy skills to other lawyers makes us better litigators because it makes us question our default methods, connect to young attorneys with new perspectives and focus on the needs of the real people at the heart of every trial, say Reuben Guttman, Veronica Finkelstein and Joleen Youngers.
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What New CFPB Oversight Limits Would Mean For 4 Markets
As the Consumer Financial Protection Bureau continues to centralize its resources, proposals to alter the definition of larger market participants in the automobile financing, international money transfer, consumer reporting and consumer debt collection markets would reduce the scope of the bureau's oversight, say attorneys at Holland & Knight.
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MIT Bros.' Crypto Charges Provide Fraud Test Case For Gov't
As U.S. v. Peraire-Bueno, involving cryptocurrency fraud charges against brothers who graduated from the Massachusetts Institute of Technology, moves forward after surviving a motion to dismiss, the case provides an early example of how the government might use the federal fraud statutes to regulate decentralized networks, say attorneys at ArentFox Schiff.
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Potential Paths To Modernizing The Bank Secrecy Act
The Bank Secrecy Act's analog design has become increasingly incompatible with today's digital financial ecosystem, but legislative reforms, coupled with regulatory adjustments including updated thresholds, feedback mechanisms and innovation sandboxes, would help adjust the act to the unique challenges of modern technology, says Matthew Biben at King & Spalding.
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9th Circ. Finding That NFTs Are Goods Will Change TM Law
The Ninth Circuit's recent ruling in Yuga Labs v. Ripps establishes that NFTs have real, commercial value under U.S. federal trademark law, a new legal precedent that may significantly influence intellectual property enforcement and marketplace policies regarding digital assets going forward, say attorneys at Wilson Elser.
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Series
Adapting To Private Practice: From Texas AUSA To BigLaw
As I learned when I transitioned from an assistant U.S. attorney to a BigLaw partner, the move from government to private practice is not without its hurdles, but it offers immense potential for growth and the opportunity to use highly transferable skills developed in public service, says Jeffery Vaden at Bracewell.
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3 Rulings Show Hurdles To Proving Market Manipulation Fraud
Three recent conviction reversals from New York federal courts highlight the challenges that prosecutors face in establishing fraud and market manipulation allegations, suggesting that courts are increasingly reluctant to find criminal liability when novel theories are advanced, say attorneys at WilmerHale.
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Advice For 1st-Gen Lawyers Entering The Legal Profession
Nikki Hurtado at The Ferraro Law Firm tells her story of being a first-generation lawyer and how others who begin their professional journeys without the benefit of playbooks handed down by relatives can turn this disadvantage into their greatest strength.
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Untangling 'Debanking' Exec Order And Ensuing Challenges
President Donald Trump's recent executive order on the practice of closing or refusing to open accounts for high-risk customers has heightened scrutiny on "debanking," but practical steps can help financial institutions reduce the likelihood of becoming involved in investigations, say attorneys at Winston & Strawn.
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What FDIC's Asset Threshold Raise Would Mean For Banking
If the Federal Deposit Insurance Corp. goes through with its plan to raise asset thresholds that determine regulatory intensity, it could free billions in compliance costs and bolster regional and community banks, but risk of oversight gaps are making this a contested area in banking policy, says Jessica Groza at Kohr Jackson.
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Series
Coaching Cheerleading Makes Me A Better Lawyer
At first glance, cheerleading and litigation may seem like worlds apart, but both require precision, adaptability, leadership and the ability to stay composed under pressure — all of which have sharpened how I approach my work in the emotionally complex world of mass torts and personal injury, says Rashanda Bruce at Robins Kaplan.
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Series
Law School's Missed Lessons: How To Make A Deal
Preparing lawyers for the nuances of a transactional practice is not a strong suit for most law schools, but, in practice, there are six principles that can help young M&A lawyers become seasoned, trusted deal advisers, says Chuck Morton at Venable.
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Annual Report Shows CFIUS Extending Its Reach In 2024
The recently released 2024 annual report from the Committee on Foreign Investment in the United States reveals record civil penalties and enhanced internal capabilities, illustrating expanding jurisdiction and an increasing appetite for enforcement actions, says Nathan Fisher at StoneTurn.