News

Diana Shipping has announced it is narrowing its proxy fight against Genco Shipping & Trading, now targeting only two board director seats instead of a broader slate. The move signals a scaled-back but ongoing activist campaign by Diana Shipping to gain board representation at Genco. No financial terms or settlement have been disclosed.

Sam Bankman-Fried, the convicted founder of collapsed crypto exchange FTX, has formally requested a presidential pardon from President Trump. Bankman-Fried was sentenced to 25 years in prison following his conviction on fraud and conspiracy charges related to the collapse of FTX. The pardon request adds to a series of high-profile clemency appeals made to the Trump administration.

A court in eastern China sentenced a man to 10 years and nine months in prison for stealing 107 Bitcoin by memorizing a seed phrase. The ruling is notable because the court treated Bitcoin as property under Chinese law, lending legal recognition to crypto assets in a jurisdiction that has broadly restricted cryptocurrency activity. No specific publicly traded company is named in the article.

A cache of bitcoin linked to the Satoshi era has moved on-chain for the first time in 14 years, placing it at the center of a $285 billion lawsuit. The movement of these long-dormant coins has reignited legal and ownership disputes tied to early Bitcoin history. No specific publicly traded company is named as a primary party in the article excerpt provided.

A court has lifted a $12.5 million USDC freeze on privacy protocol Zama that was tied to an unrelated legal dispute. Following the ruling, Zama announced it will accelerate its compliance measures. No publicly traded company is directly named in the article.

The SEC has filed a lawsuit against a Texas man alleging he ran a $12.3 million fraudulent crypto scheme that falsely claimed to use AI-powered trading bots. The case involves alleged misrepresentation to investors about the nature and capabilities of the trading technology. No publicly traded companies are named in the article.

The SEC has charged Texas resident Nathan Fuller with orchestrating a $12.3 million crypto fraud scheme that falsely claimed to use AI-powered trading bots to generate returns. Fuller allegedly raised funds from approximately 150 investors using the deceptive platform. No publicly traded companies are named in connection with the charges.

The CFTC and Gemini are jointly seeking a court reversal of a 2025 settlement agreement between the two parties. A former CFTC chair described the move as "extraordinarily unusual" and stated the public deserves a fuller explanation for the reversal effort.

Former Celsius Network CEO Alex Mashinsky has filed a motion to vacate his 12-year prison sentence following the withdrawal of his legal counsel. The filing includes claims related to FTX and allegations of a "hostile takeover" by a former Celsius executive who received a time-served sentence. No specific relief has been granted at this stage.

Kalshi has filed a lawsuit against the state of Minnesota, challenging a state law that criminalizes prediction markets. The suit follows a similar legal action by the CFTC, signaling a broader regulatory and legal battle over the legality of prediction market platforms at the state level. Kalshi is a federally regulated prediction market exchange that has previously clashed with state regulators over jurisdiction.

Kalshi has filed a lawsuit against Minnesota while the CFTC has taken legal action against Rhode Island, both related to state-level regulation of prediction markets. The disputes over jurisdictional authority between federal and state regulators appear to be on a trajectory toward the US Supreme Court.

The US Justice Department and CFTC have charged Google software engineer Michele Spagnuolo with insider trading, alleging he used non-public information accessed through his work to place bets on prediction market platform Polymarket, netting approximately $1.2 million in profits. The charges involve both criminal and civil actions targeting an individual employee, not Google itself. Polymarket, a decentralized prediction market, is implicated as the venue for the alleged trades.

South Korean prosecutors have charged a group of operators behind the CATFI memecoin in what is reported to be the country's first decentralized exchange (DEX) rug-pull case prosecuted under crypto law. The charges relate to an alleged rug pull, where operators are accused of fraudulently draining investor funds. No major publicly traded company tickers are directly implicated in the report.

A New York lawsuit is seeking ownership of 39,069 dormant Bitcoin wallets, testing the boundaries of property law as it applies to lost cryptocurrency and private keys. The case raises novel legal questions about who can claim rights to unclaimed or inaccessible crypto assets. No specific company is named as a defendant or plaintiff in the article.

The U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit against New York State to prevent it from applying gambling laws to prediction market platforms. The CFTC argues that federal regulators hold exclusive jurisdiction over event-based contracts, directly challenging state-level oversight. The case could have broad implications for the legal framework governing prediction markets in the U.S.