OpenAI’s move to for-profit: Is it indeed ‘illegal’?
OpenAI’s potential transformation into a for-profit corporation is not impossible, but it will likely not be an easy process. Go to Source
Lawsuit
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Terror victims claim DOJ withholding their cut of $4.3B Binance penalty
Four people who are victims or family of victims of state terrorism sued the Justice Department claiming it hasn’t put the billions from Binance’s settlement into a victim fund. Go to Source
DOJ sues Visa over alleged payments monopoly
The suit alleges that Visa purposely made it difficult for competitors to participate in the payments market. Go to Source
Court questions SEC’s ‘vacuous’ denial of Coinbase rulemaking petition
In 2022, Coinbase asked the SEC to propose and adopt rules to govern crypto, including clarification on which crypto assets are securities. Go to Source
Texas Court Dismisses Consensys’ Lawsuit Against SEC Over Ethereum Investigation
In a recent decision, a Texas court dismissed Consensys’ lawsuit against the U.S. Securities and Exchange Commission (SEC), which was filed in April 2024 to protect the Ethereum ecosystem from regulatory overreach. The court’s dismissal was based on procedural grounds, without addressing the merits of Consensys’ claims. Despite this setback, Consensys highlighted a significant win … Read more
US federal judge tosses Consensys’ suit against SEC
A Texas federal court judge has dismissed a lawsuit brought by Consensys against the SEC that claimed the agency was investigating Ethereum to classify it as a security. Go to Source
SEC sues ‘fake’ crypto exchanges in first action on pig butchering scams
The SEC has taken action against romance scammers for the first time, charging two allegedly fake crypto exchanges with carrying out fraud. Go to Source
UK court rules Tether is property in first English law post-trial crypto ruling
It comes a day after a UK government bill aimed to clarify that crypto was “personal property” under property laws. Go to Source
Dogecoin Manipulation Lawsuit Against Elon Musk and Tesla Dismissed
Elon Musk and Tesla Inc. successfully had a lawsuit dismissed that accused them of manipulating the price of dogecoin (DOGE) for personal gain. A U.S. District Judge in Manhattan ruled that the plaintiffs failed to provide convincing evidence, despite multiple revisions of their claims. The lawsuit alleged that Musk’s social media influence caused a 36,000% … Read more
SEC Issues Wells Notice to Opensea, Alleging NFTs on the Marketplace Are Securities
The U.S. Securities and Exchange Commission (SEC) has issued a Wells notice to Opensea, signaling potential enforcement action against the NFT marketplace. Opensea’s CEO criticized the SEC’s move, claiming it could negatively impact innovation and creators’ livelihoods. The platform is prepared to contest the action and has committed $5 million to support NFT creators facing … Read more
