Legal
US Chamber of Digital Commerce files motion to dismiss SEC case against Binance, likens it to suing grocery store
The U.S. lobby group argues that the SEC's regulatory approach has been "opaque and hostile."
Assad Jafri 3 min read
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Read crypto legal news on court cases, enforcement actions, lawsuits, and legal disputes affecting digital asset markets.
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Third week of SBF trial details lavish spending of customer funds on real estate, endorsements, and more
Former head of engineering at FTX Nishad Singh admitted to knowingly spending customer deposits at Bankman-Fried's direction during a week of explosive testimony.
Legal
Joseph Lubin, Consensys sued by early employees over 2020 restructuring
More than two dozen early employees of Consensys when it was a Switzerland-based startup claim to have been rooked out of their equity shares when the firm relocated stateside.
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LBRY concedes to total shutdown, citing loss to SEC and millions in debt
The company said the LBRY blockchain is open-source and could continue on in theory, but that it would die without users.
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SBF Trial – FTX general counsel had ‘no idea’ that SBF was misusing customer funds
FTX General Counsel Can Sun began his testimony by stating that he "didn't do anything wrong" and had "no idea" that the exchange and Alameda were misusing customer funds.
Regulation
SEC drops charges against Ripple executives
Ripple's Brad Garlinghouse and Chris Larsen no longer face charges. However, Ripple and the SEC must settle on remedies for institutional XRP sale violations.
AI
Universal Music Group sues Anthropic for IP infringement
UMG alleged that Anthropic's AI could output "original" music and lyrics that were almost direct copies of protected songs.
Legal
Gemini claims ‘victim’ status in NYAG’s billion-dollar lawsuit
Gemini said the lawsuit validates its claim that Genesis and its parent company, Digital Currency Group, conspired defraud creditors.
Legal
SBF Trial – Forensic accountant reveals almost 70% of Alameda’s loans were serviced with FTX customer funds
The main witnesses for the day were Professor Peter Easton, an esteemed accounting expert from the University of Notre Dame, FBI accountant Paige Owens, and a former FTX employee, Eliora Katz.
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U.S. Treasury sanctions Gaza-based crypto broker alleged to have facilitated $25M in transactions since 2015
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SBF Trial – Defense grills Singh over personal spending despite knowing FTX was misusing customer funds
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Evidence shows Bankman-Fried and associates gave $230M to friends, family, politicians, PACs, and special interests
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