Elon Musk drops lawsuit against OpenAI CEO Sam Altman
Musk’s decision came one day before a federal judge was set to decide whether to dismiss the case or allow it to proceed to the next stage. Go to Source
Lawsuit
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FTX Loaned Millions to Australian Influencer to Ward Off Potential Litigation, Bankruptcy Report Reveals
According to a bankruptcy report from FTX, the defunct cryptocurrency exchange loaned an Australian influencer slightly more than $13 million. This loan was intended to assist him in repaying investors. The exchange proposed lending Saunders millions of dollars to prevent potential harm to its reputation and avoid litigation. Bankruptcy Report Contradicts Saunders’ Previous Assertions The … Read more
American Securities Association Sues SEC Over Lack of Transparency in Enforcement Actions
The American Securities Association (ASA) filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) on Thursday for failing to comply with the Freedom of Information Act (FOIA). The ASA seeks to compel the SEC to disclose records related to its “recordkeeping sweep initiative” that imposed penalties on broker-dealers for retaining off-channel communications, such … Read more
SEC Ethereum ETF decision unlikely driven by politics: Bernstein
Bernstein analysts Gautam Chhugani and Mahika Sapra believe the United States securities regulator likely approved the spot Ether ETFs to avoid a legal battle. Go to Source
Robinhood nears settlement on GameStop, meme stocks suit
Trading platform Robinhood is finalizing a settlement with investors who claimed they were burned by its 2021 meme stock buy block. Go to Source
Apple disputes monopoly claims, cites ‘fierce competition’ in court
Apple’s letter to a federal judge previewed its slated dismissal motion to a U.S. antitrust suit, with the firm claiming prosecutors didn’t define where it has a monopoly. Go to Source
Dolce & Gabbana Sued Over $6,000 NFTs Losing 97% Value
Dolce & Gabbana USA Inc. faces a lawsuit from a customer who claims the non-fungible tokens (NFTs) he bought for $6,000, which included metaverse outfits, lost 97% of their value due to delivery failures by the luxury fashion house. The complaint, filed in Manhattan federal court, alleges the NFTs were promoted with various digital, physical, … Read more
Bitfarms Terminates CEO Geoffrey Morphy, Faces $27 Million Lawsuit
Bitfarms Ltd., a global bitcoin mining company, has announced the immediate termination of Geoffrey Morphy as president and CEO, along with his removal as a director. Following his dismissal, Morphy filed a lawsuit against the company, seeking $27 million in damages for alleged breach of contract and wrongful dismissal. Bitfarms is set to defend against … Read more
SEC files final response in Ripple XRP case
The SEC argues that Ripple’s claims do not negate the need for injunctions to prevent future violations. Go to Source
Class Action Lawsuit Claims Coinbase Operates as Unregistered Broker
A new class action lawsuit was initiated against the San Francisco-based cryptocurrency exchange Coinbase on May 3. The legal action claims that Coinbase deliberately sold securities that are unregistered with regulatory authorities. Additionally, the lawsuit charges Coinbase with operating as an unregistered securities broker. Lawsuit Alleges Coinbase Illegally Sold Securities Without Registration According to legal … Read more
