Cryptocurrency platform BlockFi said Friday it's reached a deal for a $400 million revolving credit facility and a potential acquisition by cryptocurrency exchange FTX US, as the digital-asset industry continues to feel the effects of the market downturn.
Walmart on Wednesday previewed a possible legal defense against the Federal Trade Commission's claims that the retail giant turned a blind eye to fraudulent money transfers, suggesting that the FTC is relying on an untested legal theory to extract monetary penalties.
The Federal Trade Commission sued Walmart in Illinois federal court on Tuesday, claiming the retail giant allowed its money transfer services to be used by fraudsters who cheated customers out of hundreds of millions of dollars.
Terraform Labs and its CEO have been hit with a proposed class action in California federal court accusing them of racketeering, selling unregistered securities and misleading investors in the run-up to the multibillion-dollar crash of the company's signature digital assets, TerraUSD and Luna.
Polsinelli PC must face a defunct cryptocurrency trading club's argument that the law firm and a former partner failed to detect illegal activity that ultimately drained the club's coffers, a Florida federal judge ruled Wednesday.