Fenwick & West, the main legal firm that provided outside legal services for the former FTX crypto exchange, has agreed to settle a class action lawsuit from 2023 for $54 million.
The settlement addresses claims against the law firm tied to its advisory role with FTX before the exchange's collapse.
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Sam Bankman-Fried, the imprisoned founder of the collapsed FTX exchange, has formally applied for a presidential pardon from Donald Trump. The move triggered a sharp rally in the FTT token, which rose more than 50 percent in a day.
The U.S. Securities and Exchange Commission has filed a lawsuit against Texas resident Nathan Fuller, alleging he raised $12.3 million from about 150 investors through a fraudulent crypto investment scheme that falsely promised high returns from AI-powered trading bots.
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Hong Kong's Securities and Futures Commission is pursuing compensation for victims of securities misconduct instead of focusing on fines. The regulator has secured HK$2.5 billion in settlements over recent months. This follows practices in the US, UK and Europe.
Kalshi has secured $1 billion in fresh funding, doubling its valuation to $22 billion in a round led by Coatue. The U.S.-based prediction market platform reported strong growth in institutional trading amid broader interest in event contracts.
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Trump Media & Technology Group has withdrawn its plans for Truth Social-branded spot bitcoin and bitcoin-and-ether ETFs. The move came after the firm pulled its registration statements with the U.S. Securities and Exchange Commission on May 19.