Apple lost its bid to have part of a lawsuit in the United Kingdom dismissed. The lawsuit was filed on behalf of 1,500 U.K.-based app developers and alleged that Apple charged them unfair commissions on apps and other content purchased from the company’s App Store, Reuters reported Friday (April...
Sam Bankman-Fried appealed his conviction and 25-year prison sentence Thursday (April 11). The FTX founder, who was convicted in November 2023 and sentenced in March for stealing $8 billion from customers of the now-bankrupt cryptocurrency exchange, faces what could be a yearslong process in pursuing...
Binance’s head of financial crime compliance, Tigran Gambaryan, appeared in court in Nigeria for the first time Thursday (April 4). Gambaryan, who is a U.S. citizen, was served with charges and did not take a plea, Reuters reported Thursday. Gambaryan, another Binance executive and the cryptocurrency exchange itself...
“I never thought that what I was doing was illegal.” So said Sam Bankman-Fried, giving his first jailhouse interview to ABC in a report published Monday (April 1), days after the FTX founder was sentenced to 25 years in prison for the fraud that led to the...
PayPal won a legal victory against the U.S. consumer protection watchdog. According to court documents cited in a Friday (March 29) Law 360 report, U.S. District Judge Richard J. Leon tossed out an aspect of the so-called “prepaid rule” for digital wallets that went into effect...
When the facts are crystal clear, often the only recourse is to appeal to emotion. That’s the tack that convicted crypto criminal and former FTX CEO Sam Bankman-Fried’s legal defense hewed to on Thursday (March 28) during the fallen wunderkind’s sentencing hearing — but, as it turned out,...
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...
