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Featured
NY Judge Axes $110M Mango Markets Trader's Fraud Verdict
A Manhattan federal judge on Friday granted a crypto trader's request to overturn a conviction for defrauding platform Mango Markets out of roughly $110 million, finding that prosecutors didn't link his conduct to New York and failed to show he duped the platform.
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November 06, 2025
Samourai Wallet Exec Gets 5 Years In Crypto Laundering Case
A Manhattan federal judge sentenced the CEO of crypto mixer Samourai Wallet to five years in prison Thursday after he admitted that his business facilitated big-dollar transfers derived from criminal activity including narcotics trafficking and extortion.
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November 05, 2025
Fed Signs Off On Revamp To Ease Big-Bank Ratings
The Federal Reserve said Wednesday that it has finalized an overhaul to its supervisory ratings system for large banks, adopting changes that will allow more of these lenders to qualify as "well managed."
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November 05, 2025
Crypto Thief Or 'Scapegoat'? Jury To Decide Ex-CFO's Fate
Prosecutors urged a Washington federal jury Wednesday to convict a software startup's ex-executive for pumping $35 million from company coffers into his fledgling cryptocurrency project, while defense counsel accused the government of pursuing a baseless case because the company needed someone to "scapegoat" for an investment loss.
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November 05, 2025
Helium Financial Says Fired Employees Nabbed Trade Secrets
Two former employees of Washington-based Helium Financial Group LLC stole trade secrets and used them to start their own wealth management firm after they were fired, allowing them to create "a 'clone' of Helium's business model in startup form," Helium claimed in a lawsuit filed Wednesday in Seattle federal court
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November 05, 2025
Kalshi, Robinhood Say Tribes' Gaming Law Case Lacks Merit
Kalshi and Robinhood have told a California federal judge that Native American tribes in the state can't bring claims that the trading platforms ran a criminal racket and flouted laws protecting tribal gaming by offering their sports event contracts, since the wagers are ultimately overseen by federal commodity laws.
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November 05, 2025
Jones Day Hires Ex-Coinbase Associate GC In San Diego
Jones Day has added to its San Diego cybersecurity practice a former member of Coinbase's commercial litigation team, the firm announced.
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November 05, 2025
11th Circ. Says Not Feds' Fault If $345M Crypto Key Was Lost
The Eleventh Circuit has ruled that a man convicted of identity theft cannot sue the government for $345 million he claims he lost because federal investigators wiped a hard drive containing access codes to several thousand bitcoins, noting the man didn't tell investigators about the cryptocurrency.
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November 05, 2025
Google Hit With Patent Suit Over Phone, Smart Home Tech
A Texas company has launched a complaint in Texas federal court that accuses Google of infringing five patents covering a range of technologies with products such as Android phones and a smart home device.
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November 05, 2025
Ex-Startup Exec Who Helped Defraud JPMorgan Gets 68 Mos.
A Manhattan federal judge hit an Israeli businessman with 68 months in prison Wednesday for joining with Frank founder Charlie Javice to trick JPMorgan into buying their failed financial aid startup for $175 million by using faked customer data.
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November 05, 2025
JPMorgan Latest Big Bank To Disclose 'Fair Banking' Scrutiny
JPMorgan Chase & Co. has disclosed that it is responding to government inquiries tied to President Donald Trump's "fair banking" executive order targeting alleged political and religious discrimination by financial institutions, following a similar disclosure from Bank of America Corp.
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November 05, 2025
Kirkland Advises Fortress As Ripple Lands $500M Fundraise
Crypto company Ripple announced Wednesday it secured a $500 million strategic investment at a $40 billion valuation, led by Fortress Investment Group along with affiliates of Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard and Marshall Wace.
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November 04, 2025
CFPB's Retreat Isn't Moving Needle For Banks, Ex-Chief Says
The Trump administration's hollowing out of the Consumer Financial Protection Bureau hasn't changed how banks are approaching compliance, former agency Director Kathleen Kraninger said at a Tuesday industry conference.
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November 04, 2025
Jury Told $25M Crypto Win Was Fraud, MIT Bros Call It Legit
Manhattan federal prosecutors on Tuesday told jurors that two MIT-educated brothers pulled off a meticulously planned $25 million crypto heist by ripping off other traders they didn't like, while defense counsel argued that the government is trying to take a legitimate "sharp-edged" trading strategy and turn it into a crime.
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November 04, 2025
OCC's Gould Pledges 'Multifaceted' Defense Of Preemption
The Office of the Comptroller of the Currency's top official said Tuesday that his agency will be taking steps to defend and promote federal preemption in banking, pledging a "multifaceted" effort to stem what he described as weakening support for the principle.
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November 04, 2025
Bankruptcy Judge Taken Off GWG Case Amid Scandal Fallout
The federal judge overseeing GWG Holdings' bankruptcy case has been removed because of his professional relationship with embattled former U.S. Bankruptcy Judge David R. Jones, a decision the chief bankruptcy judge attributed not to the GWG judge's "own actions," but to Jones's "abuse" of judicial authority.
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November 04, 2025
Banking Groups Push Back On Coinbase's Trust Charter Bid
Two banking industry groups have opposed crypto exchange Coinbase's bid for a national trust company charter, warning in comment letters to the Office of the Comptroller of the Currency that granting the crypto firm's application could lead to systemic risks.
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November 04, 2025
Ex-Beneficient CEO Stole $150M From GWG, Feds Say
The former CEO of Texas financial services firm Beneficient allegedly created a fraudulent scheme to loot more than $150 million from now defunct GWG Holdings, a publicly traded company for which he served as chairman, according to a New York federal grand jury indictment unsealed Tuesday.
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November 04, 2025
Clippers Owner, BakerHostetler Named In Fintech Fraud Suit
Nearly a dozen investors have filed an amended lawsuit in California state court alleging Los Angeles Clippers owner Steve Ballmer and others, including BakerHostetler, helped financial technology company Aspiration Partners Inc. defraud them by propagating a false narrative that the business was financially solvent.
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November 04, 2025
Fiserv Faces Investor Suit Over 2025 Strategy Revisions
Digital banking services company Fiserv was hit with a proposed shareholder class action on Tuesday accusing it of basing its 2025 financial guidance on misguided "assumptions," causing shares to plummet by nearly half their value last week.
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November 04, 2025
CFPB's Information Security 'No Longer Effective,' IG Says
The Consumer Financial Protection Bureau's information security program has weakened under the Trump administration and is "no longer effective" amid staff departures and loss of contractor resources, according to a new inspector general report.
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November 04, 2025
Crypto Mining Rivals Settle Patent Dispute Over Gas Wells
Two cryptocurrency mining companies have reached a settlement to conclude the Canadian company's patent infringement suit against its Colorado rival in federal court.
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November 04, 2025
Judge To Allow Crypto Landlord To Begin Evictions In Detroit
A Detroit judge said Tuesday she will modify her court order barring a cryptocurrency real estate investment company from collecting rent to make clear its tenants must, in the meantime, pay their rent into escrow accounts held by the city of Detroit — and allow evictions of tenants who fail to do so.
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November 04, 2025
Winston & Strawn Fights 'Anti-Woke' Fintech $1.7B Crash Suit
Winston & Strawn LLP is asking a Texas bankruptcy court to toss a lawsuit from the trustee of self-styled "anti-woke" financial technology startup GloriFi, saying that holding the law firm responsible for the company's failure would set "extraordinary and dangerous precedent."
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November 04, 2025
2nd Circ. Hints Bankman-Fried's $11B Forfeiture Is Overkill
The Second Circuit suggested Tuesday that the government's $11 billion forfeiture order against Sam Bankman-Fried may be unconstitutionally large, noting that the staggering amount tops the raft of cases tasking the court with determining if such money judgments pass Eighth Amendment muster.
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November 03, 2025
MIT Bros Rest, Expert Says $25M Crypto Score Was Aboveboard
Two MIT-educated brothers accused of using an unlawful crypto trading strategy to steal $25 million from other traders on Monday rested their case without taking the stand, after a defense expert witness said they didn't violate any rules of the Ethereum blockchain.
Expert Analysis
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Series
Mindfulness Meditation Makes Me A Better Lawyer
Mindful meditation enables me to drop the ego, and in helping me to keep sight of what’s important, permits me to learn from the other side and become a reliable counselor, says Roy Wyman at Bass Berry.
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AI Litigation Tools Can Enhance Case Assessment, Strategy
Civil litigators can use artificial intelligence tools to strengthen case assessment and aid in early strategy development, as long as they address the risks and ethical considerations that accompany these uses, say attorneys at Barnes & Thornburg.
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Post-Genius Landscape Reveals Technical Stablecoin Hurdles
The Genius Act's implementation has revealed challenges for mass stablecoin adoption, but there are several factors that stablecoin issuers can use to differentiate themselves and secure market share, including interest rate, liquidity, and safety and security, say attorneys at Olshan Frome.
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Attys Beware: Generative AI Can Also Hallucinate Metadata
In addition to the well-known problem of AI-generated hallucinations in legal documents, AI tools can also hallucinate metadata — threatening the integrity of discovery, the reliability of evidence and the ability to definitively identify the provenance of electronic documents, say attorneys at Law & Forensics.
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What May Be Ahead In Debanking Enforcement
President Donald Trump's executive order on politicized or unlawful debanking has spurred a flurry of activity by the federal banking regulators, so banks should expect debanking-related complaints submitted by consumers to increase, and for federal regulators to look for more enforcement opportunities, say attorneys at Bradley Arant.
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SEC Crypto Custody Relief Offers Clarity For Funds
A recent U.S. Securities and Exchange Commission staff letter supplies a workable path for registered investment advisers and funds seeking to offer crypto custody services by using state trust companies, and may portend additional useful guidance regarding crypto custody, say attorneys at Morgan Lewis.
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When Atty Ethics Violations Give Rise To Causes Of Action
Though the Model Rules of Professional Conduct make clear that a violation of the rules does not automatically create a cause of action, attorneys should beware of a few scenarios in which they could face lawsuits for ethical lapses, says Brian Faughnan at Faughnan Law.
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CFIUS Trends May Shift Under 'America First' Policy
The arrival of the Committee on Foreign Investment in the United States' latest annual report suggests that the Trump administration's "America First" policy will have a measurable effect on foreign investment, including improved trendlines for investments from allied sources and increasingly negative trendlines for those from foreign adversary sources, say attorneys at Debevoise.
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How Novel Del. Ruling Tackled Crypto Jurisdiction
As courts grapple with cryptocurrency's borderless nature, the Delaware Court of Chancery's recent decision in Timoria v. Anis highlights the delicate balance between territorial jurisdiction and due process, and reinforces the need for practitioners to develop sophisticated, multijurisdictional approaches to digital asset disputes, say attorneys at Holland & Knight.
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What CFTC Push For Tokenized Collateral Means For Crypto
The Commodity Futures Trading Commission's recent request for comment on the use of tokenized products as collateral in derivatives markets signals that it is expanding the scope and form of eligible collateral, and could broaden the potential use cases for crypto-assets held in tokenized form, say attorneys at Dechert.
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Indiana Law Sets New Standard For Wage Access Providers
The recent enactment of a law establishing a comprehensive regulatory framework for earned wage access positions Indiana as one of the leading states to allow EWA services, and establishes a standard that employers must familiarize themselves with before the Jan. 1 effective date, say attorneys at Faegre Drinker.
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Series
Practicing Stoicism Makes Me A Better Lawyer
Practicing Stoicism, by applying reason to ignore my emotions and govern my decisions, has enabled me to approach challenging situations in a structured way, ultimately providing advice singularly devoted to a client's interest, says John Baranello at Moses & Singer.
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Series
The Biz Court Digest: Texas, One Year In
A year after the Texas Business Court's first decision, it's clear that Texas didn't just copy Delaware and instead built something uniquely its own, combining specialization with constitutional accountability and creating a model that looks forward without losing touch with the state's democratic and statutory roots, says Chris Bankler at Jackson Walker.
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AG Watch: Illinois A Key Player In State-Level Enforcement
Illinois Attorney General Kwame Raoul has systematically strengthened his office to fill federal enforcement gaps, oppose Trump administration mandates and advance state policy objectives, particularly by aggressively pursuing labor-related issues, say attorneys at Troutman.
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Series
Law School's Missed Lessons: Educating Your Community
Nearly two decades prosecuting scammers and elder fraud taught me that proactively educating the public about the risks they face and the rights they possess is essential to building trust within our communities, empowering otherwise vulnerable citizens and preventing wrongdoers from gaining a foothold, says Roger Handberg at GrayRobinson.