Fintech

  • April 03, 2025

    Loyalty Platform Kognitiv Hits Ch. 11 With Over $10M In Debt

    Customer loyalty platform Kognitiv US LLC filed for Chapter 11 on Wednesday in Delaware bankruptcy court, citing more than $10 million in liabilities with a plan to sell its assets to another loyalty platform.

  • April 03, 2025

    DC Circ. Steps In To Pause CFPB Order As Judge Denies Stay

    A D.C. Circuit panel on Thursday put a temporary, limited hold on a federal judge's preliminary injunction barring further cuts at the Consumer Financial Protection Bureau, even as the judge herself largely denied a Trump administration bid to stay it for appeal.

  • April 03, 2025

    House Moves Stablecoin Bill Despite Dems' Conflict Concerns

    The House Financial Services Committee advanced its federal framework for stablecoins just before midnight Wednesday following hours of markup during which Democrats raised concerns that the Trump family and administration officials' involvement with crypto ventures will create conflicts of interest.

  • April 03, 2025

    Feds Say Cash Advance Biz Owner Ran $40M Ponzi Scheme

    Federal prosecutors said Thursday that a Miami man ran a $40 million Ponzi scheme through a company that purported to make money through quick loans to small businesses.

  • April 03, 2025

    SEC's Gemini Crypto Trading Suit Paused For More Deal Talks

    A New York federal judge paused the U.S. Securities and Exchange Commission's unregistered securities trading claims against cryptocurrency exchange Gemini Trust Co. after the agency and the company informed the court they were approaching a resolution, which would be the second deal reached in the case.

  • April 03, 2025

    'No Serious Question' Federal Firings Broke Law, Justices Told

    Federal employee unions and advocacy groups urged the U.S. Supreme Court on Thursday to reject the Trump administration's bid to pause a California court order reinstating tens of thousands of probationary workers fired from six agencies, arguing the government can't escape self-inflicted harms brought on by its allegedly unlawful actions.

  • April 03, 2025

    Senate Advances Noms Of Trump's SEC, OCC Picks

    The U.S. Senate Banking Committee voted along party lines Thursday to advance the nominations of President Donald Trump's chosen leaders for the U.S. Securities and Exchange Commission and the Office of the Comptroller of the Currency, sending both to the full Senate for a final confirmation vote.

  • April 03, 2025

    Bakkt Holdings Faces Suit Over Lost Crypto Revenue

    Bakkt Holdings Inc. and its top brass have been hit with a potential class action in New York federal court by an investor alleging that the crypto technology company and its executives misrepresented the stability of its crypto services revenue after it acquired a crypto platform.

  • April 03, 2025

    Cango Selling China Biz For $352M In Bitcoin Mining Push

    Cango Inc. said Thursday it has agreed to sell its existing business in China to Ursalpha Digital Ltd. for roughly $352 million in cash, as the company looks to transition from its Chinese automotive roots to focus on its growing international cryptocurrency operations.

  • April 02, 2025

    Binance Can't Send All Investors' Claims To Arbitration

    Crypto exchange Binance has suffered a setback in its bid to send a proposed class action filed by investors to arbitration in Singapore, after a New York federal judge partially denied the motion under an arbitration clause included in a 2019 unilateral update to its terms of use.

  • April 02, 2025

    DC Circ. To Hear Trump Admin's Bid To Stay CFPB Injunction

    A D.C. Circuit panel said Wednesday that it will hold a hearing next week on whether to stay a federal judge's order barring the Trump administration from shutting down the Consumer Financial Protection Bureau, taking up what has also become a jurisdictional dispute.

  • April 02, 2025

    Aspiration Partners Gets Interim OK For Ch. 11 Financing

    Sustainability-focused financial services provider Aspiration Partners Inc. on Wednesday secured the Delaware bankruptcy court's interim approval to tap $2.2 million of an $18 million Chapter 11 financing facility as the company looks for a buyer, following its co-founder's arrest last month on federal fraud charges.

  • April 02, 2025

    Trump Media Refiles President's Shares For Potential Sale

    Trump Media and Technology Group Corp. on Wednesday filed papers to reregister for sale some 114 million shares held by President Donald Trump worth more than $2 billion, though the company says there are no imminent plans to sell the shares.

  • April 02, 2025

    Siemens Buying Scientific Software Co. Dotmatics For $5.1B

    Siemens AG said Wednesday it has agreed to acquire scientific software company Dotmatics from global software investor Insight Partners in a deal valued at $5.1 billion, with Latham & Watkins LLP advising Siemens and Willkie Farr & Gallagher LLP advising Dotmatics.

  • April 02, 2025

    Fintech Execs Want $2M Award Confirmed For 'Nonperformer'

    A trio of financial technology executives asked a Connecticut state judge to confirm a $2 million arbitration award in favor of another executive they say they pushed out for being a "chronic nonperformer" who failed to negotiate the terms of his exit in good faith.

  • April 02, 2025

    Evolve Bank Reaches $11.8M Deal Over 2024 Data Breach

    Evolve Bank & Trust, a prominent fintech partner bank, has agreed to an $11.8 million settlement to resolve claims in a consolidated suit that it failed to properly protect customers' private information and notify them following a cyberattack last year.

  • April 02, 2025

    Davis Polk, Skadden Lead Stablecoin Issuer Circle's IPO Filing

    Venture-backed stablecoin issuer Circle Internet Group Inc. is moving forward with its long-awaited initial public offering amid expectations of favorable regulatory policies for crypto firms, represented by Davis Polk & Wardwell LLP and underwriters' counsel Skadden Arps Slate Meagher & Flom LLP.

  • April 01, 2025

    Trump Admin Layoffs 'Probably Broke Laws,' Judge Says

    A Maryland federal judge ruled Tuesday that the Trump administration "probably broke the laws that regulate en masse terminations of government employees," ordering the federal government to reinstate thousands of probationary employees who were abruptly fired from their jobs in 19 states and the District of Columbia.

  • April 01, 2025

    Tesla Asks Del. Justices To Undo $176M Atty Fee 'Windfall'

    Tesla urged the Delaware Supreme Court on Tuesday to slash a $176 million attorney fee award granted as part of an excessive director compensation suit settlement, saying it amounts to a "windfall in a case that settled well before trial and after three years of only tepid litigation."

  • April 01, 2025

    Javice Must Don Ankle Bracelet For Now, Despite Pilates Gig

    Frank founder Charlie Javice must wear a location-monitoring ankle bracelet, pending further court review, as she awaits sentencing, following her conviction at trial on fraud and conspiracy charges for purportedly conning JPMorgan Chase & Co. into buying her now-defunct educational startup, in spite of her claims that it will leave her unable to work in her new gig as a fitness instructor.

  • April 01, 2025

    Trump Administration Sued Over Border Cash-Reporting Order

    A Texas trade group on Tuesday sued the Trump administration over its order singling out cash-moving businesses along the southwest border for heightened anti-money laundering reporting, calling the move overreaching, discriminatory and "financially ruinous."

  • April 01, 2025

    Republicans Float Wish List Of Biden Financial Rule Rollbacks

    Republican lawmakers on the House Financial Services Committee sent a bevy of letters to financial regulators on Tuesday calling for the withdrawal or modification of rules and guidance issued under the Biden administration addressing topics like risk management, mergers, banking capital requirements and crypto business reporting.

  • April 01, 2025

    Conn. Banking Boss Orders Fintech Duo To Repay Investors

    Connecticut's banking regulator has ordered two dissolved Greenwich-based companies to reimburse dozens of investors $843,000 for making them believe their money was earmarked for an investment algorithm patent, when instead company founders blew some of the cash at salons and department stores and on plastic surgery.

  • April 01, 2025

    Trump Admin Fights Wash.'s Bid To Expand Layoff Injunction

    The Trump administration has urged a California federal judge to reject the state of Washington's request to expand an injunction blocking federal agencies from firing probationary employees, saying the bid to broaden the order to other agencies is unnecessary and based on unfounded speculation of harm. 

  • April 01, 2025

    Bitcoin Rival Appeals Grayscale's Win In $2M CUTPA Suit

    Cryptocurrency company Osprey Funds LLC is appealing a Connecticut state judge's ruling against it in its unfair trade practice suit accusing digital asset management firm Grayscale Investments LLC of misleading bitcoin investors about the security of their investments after the state court declined to reconsider its decision.

Expert Analysis

  • How Attorneys Can Master The Art Of On-Camera Presence

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    As attorneys are increasingly presented with on-camera opportunities, they can adapt their traditional legal skills for video contexts — such as virtual client meetings, marketing content or media interviews — by understanding the medium and making intentional adjustments, says Kerry Barrett.

  • Series

    Baseball Fantasy Camp Makes Me A Better Lawyer

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    With six baseball fantasy experiences under my belt, I've learned time and again that I didn't make the wrong career choice, but I've also learned that baseball lessons are life lessons, and I'm a better lawyer for my time at St. Louis Cardinals fantasy camp, says Scott Felder at Wiley.

  • Paul Atkins' Past Speeches Offer A Glimpse Into SEC's Future

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    Following Paul Atkins' Thursday Senate confirmation hearing, a look at his public remarks while serving as a commissioner at the U.S. Securities and Exchange Commission between 2002 and 2008 reveals eight possible structural and procedural changes the SEC may see once he likely takes over as chair, say attorneys at Covington.

  • Series

    Adapting To Private Practice: From Fed. Prosecutor To BigLaw

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    Making the jump from government to private practice is no small feat, but, based on my experience transitioning to a business-driven environment after 15 years as an assistant U.S. attorney, it can be incredibly rewarding and help you become a more versatile lawyer, says Michael Beckwith at Dickinson Wright.

  • Service By Token Is Transforming Crypto Litigation Landscape

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    As the Trump administration advocates a new course of cryptocurrency regulation, courts in the U.S. and abroad are authorizing innovative methods of process service, including via nonfungible tokens and blockchain messaging, offering practical solutions for litigators grappling with the anonymity of cyber defendants, says Jose Ceide at Salazar Law.

  • Opinion

    SEC Shouldn't Complicate Broker-Dealers' AML Compliance

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    Recent U.S. Securities and Exchange Commission anti-money laundering enforcement actions show that regulators should not second-guess broker-dealers' reasonable judgment, or stretch the law or their jurisdiction to regulate through enforcement, lest they expect broker-dealers to vigorously defend their AML programs, say attorneys at WilmerHale.

  • Executive Orders Paving Way For New Era Of Crypto Banking

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    Recent executive orders have already significantly affected the day-to-day operations of financial institutions that have an interest in engaging with digital assets, and creating informed strategies now can support institutions as the crypto gates continue to open to the banking industry, say attorneys at Spencer Fane.

  • Explaining CFPB's Legal Duties Under The Dodd-Frank Act

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    While only Congress can actually eradicate the Consumer Financial Protection Bureau, the Trump administration has sought to significantly alter the agency's operations, so it's an apt time to review the minimum baseline of activities that Congress requires of the CFPB in Title X of the Dodd-Frank Act, say attorneys at Bradley Arant.

  • State Securities Enforcers May Fill A Federal Enforcement Gap

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    The U.S. Securities and Exchange Commission appears poised to take a lighter touch under the new administration, but state enforcement efforts are likely to continue unabated, and potentially even increase, particularly with regard to digital assets and ESG disclosures, say attorneys at Ropes & Gray.

  • Firms Still Have Lateral Market Advantage, But Risks Persist

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    Partner and associate mobility data from the fourth quarter of 2024 shows that we’re in a new, stable era of lateral hiring where firms have the edge, but leaders should proceed cautiously, looking beyond expected revenue and compensation analyses for potential risks, say Julie Henson and Greg Hamman at Decipher Investigative Intelligence.

  • Recent Cases Highlight Latest AI-Related Civil Litigation Risks

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    Ongoing lawsuits in federal district courts reveal potential risks that companies using artificial intelligence may face from civil litigants, including health insurance coverage cases involving contractual and equitable claims, and myriad cases concerning securities disclosure claims, say attorneys at Katten.

  • What Rodney Hood's OCC Stint Could Mean For Banking

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    Acting Comptroller of the Currency Rodney Hood's time at the helm of the OCC, while temporary, is likely to feature clarity for financial institutions navigating regulations, the development of fintech innovation, and clearer expectations for counsel advising on related matters, say attorneys at Vedder Price.

  • Opinion

    We Must Allow Judges To Use Their Independent Judgment

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    As two recent cases show, the ability of judges to access their independent judgment crucially enables courts to exercise the discretion needed to reach the right outcome based on the unique facts within the law, says John Siffert at Lankler Siffert & Wohl.

  • 4 Actions For Cos. As SEC Rebrands Cyber Enforcement Units

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    As the U.S. Securities and Exchange Commission signals its changing enforcement priorities by retooling a Biden-era crypto-asset and cybersecurity enforcement unit into a task force against artificial-intelligence-powered hacks and online investing fraud, financial institutions and technology companies should adapt by considering four key points, say attorneys at Troutman.

  • 4 Key Payments Trends For White Collar Attys

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    As the payments landscape continues to innovate and the new administration looks to expand the role of digital currency in the American economy, white collar practitioners should be aware of several key issues in this space, say attorneys at Jenner & Block.

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