Binance used ‘tortured’ interpretation of law in bid to toss suit, says SEC
The SEC derided Binance’s request to have the regulator’s suit thrown out, claiming the crypto exchange hasn’t correctly applied the law. Go to Source
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OpenAI promises to fund legal costs for ChatGPT users sued over copyright
OpenAI joins Google, Microsoft and others in legally backing their users if they face legal action over copyright infringement. Go to Source
AI chatbots are illegally ripping off copyrighted news, says media group
AI developers are taking revenue, data and users away from news publications by building competing products, the News Media Alliance claims. Go to Source
Do Kwon and Terraform Labs ask judge to toss SEC’s lawsuit
Do Kwon, the co-founder now-collapsed Terraform ecosystem maintains he and his firm did not skirt U.S. securities laws. Go to Source
‘He broke his word’ — Ex-ConsenSys staff sue founder over employee equity deal
ConsenSys founder Joseph Lubin has been named in a new lawsuit filed in New York by over two dozen former ConsenSys employees. Go to Source
Elon Musk hits at SEC, DOJ amid suit to force testimony in Twitter probe
Elon Musk claims the SEC and DOJ are abusing their regulatory powers for personal and political gain to receive punitive action. Go to Source
SEC asks judge to reject Coinbase’s motion to dismiss lawsuit
The regulator has asked a federal judge to deny Coinbase’s motion to dismiss its lawsuit, claiming the exchange knew the cryptocurrencies it sold were securities under the Howey test. Go to Source
DeFi group petitions to stop ‘patent troll’ targeting DeFi protocols
The DeFi Education Fund says a patent owned by True Return Systems is being used to try to profit from lawsuits against decentralized protocols. Go to Source
Gala Games founders biff over $130M theft, corporate waste allegations
Gala co-founder Eric Schiermeyer allegedly enriched himself, says his founding peer Wright Thurston, while Schiermeyer says Thurston stole millions. Go to Source
Sotheby’s and Yuga Labs respond to lawsuit from Bored Ape investors
Art broker Sotheby’s has been named in the Bored Ape investors case against NFT company Yuga Labs, which said that the new allegations are without merit and described the complaint as “opportunistic.” Go to Source