Split 10th Circ. Refuses To Rehear Custodia Account Suit

By Sydney Price

The Tenth Circuit on Friday denied a full court reconsideration of an earlier decision granting Federal Reserve banks discretion to reject master bank accounts, but a dissenting judge argued in favor of crypto-focused Custodia Bank's position that the decision would give the Fed too much power over state banks.

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SEC Drops Fraud Case Against Crypto Co. BitClout Founder

By Aislinn Keely

The U.S. Securities and Exchange Commission has said it is walking away from its case against the founder of cryptocurrency project BitClout that accused the founder of lying to investors about a $257 million unregistered securities sale and spending millions of proceeds for his own benefit.

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DC Judge Blocks Subpoenas Targeting Fed's Powell

By Jon Hill

A Washington, D.C., federal judge has blocked a pair of subpoenas tied to the U.S. Department of Justice's criminal investigation into Federal Reserve Chair Jerome Powell, finding they were improperly issued with the aim of harassing the central bank chief in a ruling that is reverberating on Capitol Hill.

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Robinhood Denied A Second Try At Mass. Gaming Shield

By Julie Manganis

Robinhood on Friday lost a second attempt to convince a Massachusetts federal judge to preemptively rule that sports event contracts are not subject to state gaming regulations.

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Judge Says Kalshi Can't Halt Nev. Betting Suit For Venue Fight

By Ganesh Setty

Kalshi must continue fighting Nevada's gaming enforcement action in state court as it pursues an appeal to litigate in federal court, a Nevada federal judge ruled, saying "litigating in state court is not a harm, let alone an irreparable harm."

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Binance Escapes Another Terrorism Financing Suit, For Now

By Emilie Ruscoe

Cryptocurrency exchange Binance Holdings Ltd. has escaped, for now, allegations it facilitated Iran's terrorism financing, though an Alabama federal judge has given the plaintiffs, who are suing over injuries and damages suffered from Hamas' Oct. 7, 2023, attack on Israel, a chance to revise their "shotgun" pleading.

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Roundup

Conn. Statehouse Catch-Up: AI, Social Media, Private Equity

By Aaron Keller

Connecticut lawmakers are one-third of the way through the state's three-month legislative session, and already, bills targeting social media, artificial intelligence, prediction markets, private equity and hospital ownership are stacking up at the statehouse.

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Roundup

UK Litigation Roundup: Here's What You Missed In London

By Laura Stewart Liberty

In London, Estée Lauder accused Jo Malone's founder of intellectual property infringement, the wife of an Iranian businessman linked to a £75 million fraud sued several Iranian oil companies, HSBC sued U.S. property tycoon Michael Fuchs, and Charles Russell Speechlys brought a claim against a United Arab Emirates company it once represented in an international arbitration.

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Voyager Acquisition's 2nd SPAC Seeks To Raise $220M

By Jade Martinez-Pogue

Special purpose acquisition company Voyager Acquisition II on Friday filed plans with U.S. regulators to raise up to $220 million in an initial public offering, with the goal of merging with an entity in the technology, fintech or healthcare sectors.

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Hong Kong Seeks Easier Listing Rules To Spur IPOs

By Jade Martinez-Pogue

The Hong Kong Stock Exchange on Friday proposed an array of new initial public offering rules in order to attract more listings, including lowering thresholds for companies that have a dual-class structure.

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The Practical Implications Of New FDIC Stablecoin Measures

The Federal Deposit Insurance Corp.'s recent proposal to create a formal process for issuing payment stablecoins arrives with several practical implications for FDIC‑supervised banks pursuing digital asset strategies, including a safe harbor for early applicants and a focus on ownership and governance, say attorneys at Troutman.

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Trump To Get 5th North Carolina Federal Court Vacancy

By Courtney Bublé

President Donald Trump will get another judicial vacancy to fill in North Carolina with U.S. District Judge William L. Osteen Jr. of the Middle District of North Carolina recently announcing he will take senior status.

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Mass. Justices Won't Boost Pay For Court-Appointed Attys

By Julie Manganis

Massachusetts' highest court on Monday declined a request to let state judges offer higher hourly rates to induce attorneys to accept court-appointed cases, a proposal meant to alleviate a shortage of appointed counsel in two of the state's busiest counties.

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SEC Enforcement Head Resigns After 7 Months

By Sarah Jarvis

The U.S. Securities and Exchange Commission announced Monday that its enforcement director, Judge Margaret "Meg" Ryan, has resigned from the agency after nearly seven months on the job. 

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Conservative Groups Back DOJ As Amici In Law Firm EO Suits

By Emily Sawicki

Conservative groups are backing the Trump administration's attempts to revive executive orders targeting BigLaw firms, arguing in an amicus brief to the D.C. Circuit that Perkins Coie LLP had "unclean hands" for its part in what they called the "Russiagate hoax."

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Ga. Panel Says Minister Can't Rep His Church In Tax Case

By Chart Riggall

The Georgia Court of Appeals said Monday that nonattorneys can't be allowed to represent unincorporated associations in court, backing a trial court's dismissal of a minister's bid to represent his church in a property tax dispute with his home county.

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