A judge ruled Wednesday (March 27) that the Securities and Exchange Commission’s lawsuit against Coinbase can go before a jury trial. The decision came after Coinbase asked the court to dismiss the SEC’s complaint, CNBC reported Wednesday. The SEC’s suit, which was filed in June, alleges that Coinbase was acting...
The simple math on the swipe fee agreement reached by Visa and Mastercard announced Tuesday (March 26) indicates that consumers may not feel much impact at all, at the register, or on their wallets. So we’ll call that a negligible result. The broader implications of...
FTX’s CEO says Sam Bankman-Fried’s deception didn’t stop with his fraud conviction. In a victim impact statement filed Wednesday (March 20) ahead of Bankman-Fried’s sentencing next week, FTX chief executive John Ray writes that the one-time cryptocurrency wunderkind’s contention that his former customers will be...
Sam Bankman-Fried’s defense team said Tuesday (March 19) that the prosecution’s proposed 40- to 50-year prison sentence is based on a “distorted” narrative and a “medieval” view of punishment. The defense team, led by lawyer Marc Mukasey, said in a Tuesday court filing that they...
Federal prosecutors are seeking a 40- to 50-year prison sentence for Sam Bankman-Fried, the former CEO of the now-bankrupt cryptocurrency exchange FTX, over charges of massive fraud. Bankman-Fried, who was found guilty on seven counts of fraud and conspiracy in November, was convicted of stealing $8 billion...
The U.S. Chamber of Commerce filed a lawsuit against the Consumer Financial Protection Bureau, aiming to stop the agency from implementing its new rule to limit credit card late fees. The trade association said in its suit that the CFPB violated the law by preventing issuers from collecting...
OpenAI plans to move to dismiss all the claims made in a lawsuit by Elon Musk. The artificial intelligence (AI) firm said this in a Tuesday (March 5) blog post in which it said it remains committed to a mission to “ensure AGI [artificial general intelligence] benefits all of...
Apple has blocked Epic Games from getting a developer account that Epic planned to use to launch a new app store on iPhones in Europe. Epic Games CEO Tim Sweeney said he sees the move as retaliation for Epic’s antitrust actions, lawsuit against Apple, and criticisms of Apple’s App Store policies, CNBC reported Wednesday...
Digital Currency Group (DCG) wants a lawsuit accusing it of defrauding cryptocurrency investors dismissed. The company is urging a New York court to throw out the lawsuit, which alleges DCG defrauded investors via its Genesis Global Capital business, Reuters reported Wednesday (March 6). New York Attorney General Letitia...