Memecoins
Law firm threatens class action suit against disastrous $PSYOP memecoin
The project raised $7 million but has not yet distributed 90% of allocated funds.
Mike Dalton 2 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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Mike Dalton 2 min read 
Legal
Paradigm argues against New York’s attorney general classification of Ethereum as securities
Crypto investment firm Paradigm argued that Ethereum tokens cannot be classified as securities because they are "just software."
Bankruptcy
FTX sues SBF, others over ‘worthless’ fintech company acquisition
FTX liquidators said no investor was willing to pay more than $1 million for the company less than four months after SBF acquired it.
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Bankruptcy
First Voyager payouts should begin by June 1, creditors’ committee says
Voyager's approved liquidation plan may allow customers to access their funds by June 1st, with the possibility of recovering up to 63.7% of their deposits depending on the outcome of FTX litigation.
Legal
Citadel Securities says ex-employees launched crypto firm with stolen trade secrets
The company has filed a lawsuit against two former employees.
Legal
Ripple XRP rises 7% after judge denies SEC’s motion to seal Hinman documents
Ripple CEO Brad Garlinghouse described the judgment as another win for transparency. XRP grew 7% following the news.
Crime
Vietnam court sentences two men to life in prison over $1.5M crypto theft
Fourteen other individuals involved in the plot received lesser sentences.
Legal
South Korea prosecutors investigating lawmaker’s crypto accounts
The South Korean lawmaker has denied violating any law, as no rule requires lawmakers to report their cryptocurrency transactions.
Regulation
US DOJ ramps up crypto scrutiny: targets crypto exchanges, DeFi hackers
The DOJ would crack down on crypto platforms like exchanges, mixers, and tumblers that enable malicious players to carry out their crimes.