CFTC's Selig Eyes Prediction Markets Rules In Debut Speech

By Aislinn Keely

U.S. Commodity Futures Trading Commission Chairman Michael Selig on Thursday delivered his first public remarks as the agency's leader, laying out an agenda that includes setting rules for prediction markets and collaborating closely with the U.S. Securities and Exchange Commission on a variety of cryptocurrency initiatives.

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GOP-Led Crypto Bill Clears Senate Panel In Party-Line Vote

By Aislinn Keely

The Senate Agriculture Committee advanced a Republican-led proposal to regulate crypto markets on Thursday with a vote that fell starkly along party lines after Democrats made clear they would not support the bill without provisions to prevent public officials from profiting from crypto ventures.

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Fed's Master Account Stance Goes Too Far, 2nd Circ. Told

By Jon Hill

The Federal Reserve's claim of broad discretion to cut financial institutions off from master accounts could turn these U.S. payment system gateways into potential tools of partisan warfare, an attorney for a Puerto Rico bank told a Second Circuit panel Thursday.

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SEC Lays Out Taxonomy For Tokenized Securities Trading

By Jessica Corso

Publicly traded companies that convert their shares into cryptocurrency are still subject to U.S. Securities and Exchange Commission regulations, agency staff said Wednesday as they outlined a classification scheme for trading in tokenized securities.

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OppFi Says It's Not Pulling Calif. 'Dummy Lender' Scheme

By Craig Clough

An attorney for Opportunity Financial LLC urged a Los Angeles state judge Thursday to toss a California regulator's claims that it uses a Utah bank partner to dodge state regulations, saying it's not part of a "dummy lender" scheme and the court has all the information it needs to end the case.

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Law360 Seeks Members For Its 2026 Editorial Boards

Law360 is looking for avid readers of our publications to serve as members of our 2026 editorial advisory boards.

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Tribal Gaming Groups' Support Blocked In Tenn. Kalshi Case

By Joyce Hanson

A Tennessee federal judge has denied a bid by tribal groups including the Indian Gaming Association and the National Congress of American Indians to file an amicus brief in prediction market Kalshi's suit against state gambling regulators over the company's sports wagers.

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Ex-Synapse Compliance Chief Settles FINRA Supervisory Case

By Sarah Jarvis

The former chief compliance officer of a subsidiary of bankrupt fintech company Synapse has agreed to a $20,000 fine and yearlong suspension to settle the Financial Industry Regulatory Authority's allegations he failed to preserve certain books and records ahead of the firm's collapse.

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6th Circ. Backs Gov't In $125K Crypto Forfeiture Case

By Sydney Price

The Sixth Circuit has sided with the U.S. government in a suit over its rights to more than $100,000 in allegedly laundered cryptocurrency, ruling the previous receivers of the funds missed the deadline to bring a claim after the government seized the assets.

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Crypto Investor Says Cos. Can't Intervene In $40M Award Fight

By Sydney Price

A cryptocurrency investor urged a Delaware federal court to stop two companies from joining an effort to vacate his $40 million arbitral award over an alleged bitcoin scheme, saying the companies' interests are already protected by involved parties.

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Feds Eye Default Forfeiture In $1.2M Crypto Scam Claims

By Aaron Keller

Federal authorities have asked a Connecticut federal judge to issue a default judgment and forfeiture decree against Tether cryptocurrency wallets tied to an alleged $1.2 million artificial intelligence trading fraud scheme.

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3 Companies Begin Trading After Raising $1.3B In IPOs

By Jade Martinez-Pogue

Satellite maker York Space Systems began trading publicly Thursday after raising $629 million in its upsized initial public offering, joining Brazilian digital banking platform PicPay and insurance platform Ethos Technologies, both of which also made their public debuts Thursday.

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OCC Rulemaking May Clear Haze Around Trust Banks' Scope

A recent Office of the Comptroller of the Currency proposal at last eliminates uncertainty around whether national trust banks can engage in nonfiduciary activities, but it does not address which activities are permissible or whether a minimum amount of fiduciary activity is required, say attorneys at Davis Polk.

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Series

Playing Tennis Makes Me A Better Lawyer

An instinct to turn pain into purpose meant frequent trips to the tennis court, where learning to move ahead one point at a time was a lesson that also applied to the steep learning curve of patent prosecution law, says Daniel Henry at Marshall Gerstein.

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FTC Warns 42 Law Firms Of DEI 'Anticompetitive Collusion'

By Sarah Jarvis

The Federal Trade Commission announced Friday that it has sent warning letters to 42 major law firms for their purported participation in an outside diversity, equity and inclusion program, alleging their participation could constitute anticompetitive collusion.

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Analysis

Real Estate Attys 'Not Going In Blind' Amid Data Center Boom

By Chris Villani

The explosion of artificial intelligence has created a sharp demand for new data centers with no signs of slowing down, posing challenges that have some real estate attorneys turning to well-worn playbooks from other industries.

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Susman Faces Suit After Ex-Client's Arbitration Loss

By Adam Lidgett

Susman Godfrey LLP and a litigation funding business were hit with a lawsuit in Texas state court by an Irish patent litigation business that is challenging the outcome of an arbitration proceeding putting it on the hook for more than $37.8 million.

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Attys Rip Judge-Shopping Sanctions As Bid To 'Rewrite' Rules

By Jake Maher

Two Alabama attorneys who were sanctioned for allegedly judge shopping in a civil rights case urged the Eleventh Circuit to toss the sanctions Friday, arguing the judges accusing them were seeking to "rewrite" the Federal Rules of Civil Procedure.

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Brief

Bill Regulating Attorney AI Use Passes California Senate

By Emily Sawicki

A proposed California law that would regulate attorneys and arbitrators' use of generative artificial intelligence statewide has headed to the Assembly after the state Senate unanimously approved the measure.

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Colo. Firm Hit With Proposed Class Action Over Data Breach

By Rachel Konieczny

A Colorado law firm failed to properly care for the personal information of clients and their customers and did not provide adequate notice of a February 2025 data breach, according to a proposed class action in state court.

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Litigation Funder Suit Against Janus Henderson Can Proceed

By Ryan Boysen

A lawsuit that claims a Janus Henderson Group subsidiary schemed to take over a mass torts litigation funder can go forward, after a Delaware Chancery Court judge ruled the funder's case was compelling enough to survive a motion to dismiss.

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House To Vote On Reform Of Court Nondisclosure Orders

By Courtney Bublé

Sen. Lindsey Graham, R-S.C., fumed at the House on Friday for trying to undo a provision that allows him and other senators investigated by special counsel Jack Smith to sue for damages and held up the government funding vote as a result. But a bill the House is poised to take up next week could alleviate some of his concerns.

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9th Circ. Says DOJ Can Withhold VW Grand Jury Records

By Emily Field

The Ninth Circuit on Friday held that the U.S. Department of Justice couldn't be forced to hand over about 6 million Volkswagen documents that were part of a Jones Day investigation into the automaker's 2015 emissions-cheating scandal, as the government obtained them through a grand jury subpoena.

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Analysis

The Message From Delaware Courts: Change Is Coming

By Jeff Montgomery

Delaware's Supreme Court delivered a reminder to the state's corporation law ecosystem recently with a reversal of a Court of Chancery decision invalidating a 7-year-old stockholder agreement that granted broad corporate powers to investment bank Moelis & Co.'s founder.

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Roundup

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

By Max Austin

This past week in London saw collapsed solar bonds company Rockfire Capital sue the Royal Bank of Scotland, e-ticket platform Eventbrite target the owners of Salford Red Devils rugby club over an alleged contract breach, and Scottish distiller William Grant & Sons square off against a former MP in a trademark tussle tied to its Glenfiddich whisky. 

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GC Cheat Sheet: The Hottest Corporate News Of The Week

By Sue Reisinger

When Minnesota-based companies publicly called for de-escalation after two fatal shootings by federal ICE agents, the nation saw how CEOs and their general counsel can step up amid controversy. And a new study shows that white collar offenders received more than half of all recent pardons. These are some of the stories in corporate legal news you may have missed in the past week.

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Law360's Legal Lions Of The Week

By Kevin Penton

Kellogg Hansen Todd Figel & Frederick PLLC leads this week's edition of Law360 Legal Lions, after a D.C. Circuit panel revived a lawsuit that accuses pharmaceutical companies of aiding a Hezbollah-linked militia's terrorism in Iraq.

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In Case You Missed It: Hottest Firms And Stories On Law360

For those who missed out, here's a look back at the law firms, stories and expert analyses that generated the most buzz on Law360 last week.

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