February 28, 2024
New York DFS Announces Settlement With Gemini Trust
The New York State Department of Financial Services (DFS) said Wednesday (Feb. 28) that Gemini Trust Company has agreed to return at least $1.1 billion to customers of its Gemini Earn Program. The decision...
February 28, 2024
Thrasio’s Bankruptcy Spotlights Aggregators’ Decline as Ecosystems Take Shape
It was a highly successful business model, at least for a while. But the recent filing of Thrasio Holdings for Chapter 11 this week points to how Amazon aggregators have...
February 28, 2024
FTX and Alameda Vets’ New Exchange ‘Backpack’ Raises $17 Million
Backpack, a cryptocurrency exchange led by former FTX and Alameda Research employees, raised $17 million. The Series A funding round values Backpack — whose offerings also include a crypto wallet...
February 28, 2024
Bankman-Fried Lawyers Blast ‘Barbaric’ 100-Year Sentence Recommendation
Attorneys for convicted cryptocurrency fraudster Sam Bankman-Fried say their client is “selfless,” “altruistic” and “misunderstood.” In a final bid for leniency, lawyers for the FTX founder are calling for a sentence of five a-and-a-half...
February 22, 2024
The Trust in Social Networks
Compared to news outlets, who are under stringent oversight, there is an important gap in liability for digital social platforms. Not surprisingly, verifiably false information tends to be found more...
February 21, 2024
Sheppard Mullin Grows Governmental Practice in Washington, DC
Sheppard, Mullin, Richter & Hampton welcomed John Marston as a partner in their Governmental Practice, stationed at the Washington, D.C. office. Marston comes over from Foley Hoag, bringing a wealth...
February 20, 2024
Swiss Authorities Raid Crypto Hedge Fund Amid FTX Mismanagement
Geneva-based Tyr Capital Partners, a prominent hedge fund firm in the cryptocurrency industry, finds itself under scrutiny as Swiss prosecutors have launched a raid amidst accusations of “criminal” mismanagement. The...
February 18, 2024
FTX Investor Suit Accuses Law Firm in Aiding Fraud
A new lawsuit accuses an FTX-affiliated law firm of helping abet the cryptocurrency exchange’s fraud. The suit, filed last week by a group of FTX investors, accuses the 140-year-old firm of Sullivan & Cromwell...
February 15, 2024
Report: Apparel Company True Religion Up for Sale
Apparel company True Religion may be up for sale. The company’s owner, hedge fund Farmstead Capital Management, began the sales process in January, CNBC reported Thursday (Feb. 15), citing unnamed...