court

According to market news, a U.S. court has officially approved the settlement between Movement Labs, the original founders, and the Movement Foundation, further resolving the previous legal disputes.In 2025, Movement faced controversy due to the market-making arrangements for the MOVE token, which subsequently led to personnel changes and disputes within the team.

According to the official blog of Avalanche, the Dubai International Financial Centre (DIFC) court has announced the adoption of Avalanche blockchain technology to provide globally verifiable digital authenticity certificates for its court orders and hearing records.The system binds encrypted hashes of documents to unique NFT certificates on the Avalanche C-Chain, allowing any institution to verify document authenticity within seconds without contacting the court, while the document content and confidential information are not stored on-chain, maintaining complete privacy.Avalanche's settlement speed is less than one second, and records are non-reversible. In addition, the Telecommunications and Digital Government Regulatory Authority (TDRA) of the UAE is also collaborating with Ava Labs to integrate Avalanche technology into the Digital Vault blockchain layer of the national digital identity platform UAE PASS, which serves over 12.5 million users, further promoting the construction of a credible verification system for government documents on-chain in the UAE.

The founder of FTX, Sam Bankman-Fried (SBF), has submitted a petition to the U.S. Supreme Court, requesting to overturn his fraud conviction and revoke the $11 billion forfeiture order. According to CNN, the petition was filed on September 10 local time, led by Alexandra A.E. Shapiro from the law firm Shapiro, Arato, Bach. SBF is currently serving a 25-year prison sentence.The petition raises two core legal issues: first, when can the trial court admit evidence showing whether victims suffered losses, in cases where the prosecution uses a "fraudulent inducement" theory, meaning that it is irrelevant whether the victims suffered economic losses; second, does the Eighth Amendment of the U.S. Constitution allow for forfeiture or other criminal fines that destroy the defendant's future livelihood prospects? The defense argues that the trial court allowed the prosecution to imply that clients suffered massive losses while prohibiting the defense from presenting evidence that clients have been compensated, which constitutes an error.The defense claims that although FTX and Alameda faced liquidity issues at one point, they always held sufficient assets to ultimately pay back investors and clients, and clients have now been repaid with both principal and interest. In 2023, SBF was convicted of multiple counts of fraud and money laundering, and in 2024, he was sentenced to 25 years in prison and ordered to forfeit $11 billion. In June of this year, a panel of the U.S. Second Circuit Court of Appeals upheld the original ruling. The Supreme Court is expected to decide later this year whether to hear the case.

The Blockchain Association, the Crypto Innovation Committee, in conjunction with the Illinois state government, the Digital Chamber of Commerce, and the Illinois Blockchain Association, submitted a joint motion to the Sangamon County Circuit Court, requesting the court to expedite the hearing of two lawsuits against the state's Digital Asset Tax Act. The state government has agreed to issue an injunction to suspend the effectiveness and enforcement of the Digital Asset Tax Act until July 1, 2027.In order to make a ruling on the legality of the tax law as soon as possible, the parties have proposed a timeline for expedited summary judgment submissions: the first round of motions is scheduled to be submitted on November 4, 2026, and all relevant submissions will be completed by January 22, 2027. The parties request the court to hold a hearing between February 8 and February 19, 2027, and request the court to make a ruling by March 1, 2027, to which the state government has no objection. This timeline is subject to court approval.

On October 14, Jinshi Data reported that the AI company Anthropic has requested the federal appeals court in Washington to reconsider the ruling made on September 25. This ruling upheld the Trump administration's decision to classify Anthropic as a supply chain risk enterprise that poses a threat to U.S. national security.Anthropic argued that the judge misinterpreted the law, allowing the Department of Defense to take action without any prior determination procedures. The company also stated that there is clear evidence indicating that this classification is retaliation for its statements on artificial intelligence safety issues.

According to a report by The Paper, the case of Qian Zhimin, involving over 40 billion yuan in illegal fundraising and more than 60,000 bitcoins, has seen new developments in domestic judicial procedures. The Tianjin Second Intermediate People's Court announced that it has accepted the Tianjin People's Procuratorate Second Branch's application to confiscate the illegal gains of the suspect Qian Zhimin as of September 28.According to the property confiscation list published by the Tianjin Second Intermediate Court, in addition to bitcoins, the involved virtual currencies also include 72,745.79502 bitcoins cash, 72,745.78555 bitcoins gold, 72,745.7845 bitcoins Satoshi Vision, 3,605,989.9995 ripples, and 70,081,208.62553222 dogecoins (which have been converted and deposited into an interest-bearing account by British judicial authorities). Additionally, the confiscated assets also include cash in US dollars, euros, and British pounds, jewelry, as well as bank balances and investment portfolios.The Tianjin People's Procuratorate Second Branch believes that Qian Zhimin is suspected of fundraising fraud, and after fleeing, he has been wanted for a year without appearing in court. There is evidence proving that over 61,800 bitcoins and other assets seized in the UK belong to illegal gains and their proceeds, and should be recovered along with the transformed and converted properties and proceeds, except for those legally returned to the harmed fundraising participants, which should be confiscated.

According to The Block, Chicago Mercantile Exchange CEO Terrence Duffy stated that the U.S. Commodity Futures Trading Commission (CFTC) is facing an issue of "overreach" in its attempt to expand regulatory authority over prediction markets, and the related regulatory disputes may ultimately reach the U.S. Supreme Court.Duffy mentioned during the DC Fintech Week event on Tuesday that the struggle for regulatory authority over prediction markets could evolve into a legal battle between state governments, tribal governments, and the federal government, stating, "This will go to the Supreme Court, and I believe state governments and tribal governments will have the advantage."

An important ruling has been made by a UK court regarding the cross-border asset recovery dispute involving over 61,000 Bitcoins related to the illegal fundraising case of Tianjin Blue Sky Ge Rui in China. On October 12, local time, a judgment obtained by Caixin from the High Court of England and Wales indicated that the UK High Court determined that the property rights claims made by Chinese investors regarding the Bitcoins in question should be judged according to Chinese law rather than UK law.This means that approximately 16,000 Chinese victims who have participated in the UK recovery process may not be able to share in the substantial appreciation gains brought about by the soaring Bitcoin prices under UK law, and can at most recover their principal and interest.

According to The Business Times, Hong Qi Yu, the former CEO and founder of the collapsed cryptocurrency exchange Tokenize Xchange, and his ex-wife Erin Koo, have had nearly SGD 53 million in assets frozen under a court asset freeze order. This amount corresponds to the total claims made by 249 former customers in the lawsuit.The injunction prohibits the two from selling, disposing of, transferring, mortgaging, pledging, or otherwise diminishing the value of the related assets. The couple, both 36 years old, failed to lift the injunction during a hearing presided over by Judge Mohamed Faizal at the Singapore High Court on September 28, and the injunction remains in effect. Hong Qi Yu denies being the sole decision-maker and driving force behind AmazingTech, the operating entity behind Tokenize.

According to CoinDesk, the government of Illinois has reached an agreement with the Digital Chamber of Commerce and the Illinois Blockchain Association to postpone the 0.2% cryptocurrency tax, originally set to take effect on January 1, 2027, by 6 months to July 1, but still requires approval from a state circuit court judge.If the postponement is approved, both parties will temporarily suspend their request for an emergency injunction and continue litigation regarding the compliance, enforceability, and constitutionality of the tax law.

According to Crypto in America, former CFTC Chairman Russ Behnam stated at the Georgetown University Financial Markets Quality Conference that as prediction markets experience explosive growth, Congress urgently needs to clarify the boundary between risk management and gambling, and related lawsuits may ultimately be submitted to the U.S. Supreme Court.Behnam also pointed out that after the Clarity Act failed to advance in the Senate, the CFTC's reliance on existing authority to regulate the spot market is akin to "patching things up with tape and paperclips," and regulators urgently need to establish more durable rules.

According to a report by Reuters on September 28, Florida Attorney General James Uthmeier requested a judge on Monday to prohibit OpenAI from developing new artificial intelligence models without external oversight. This request is part of the state's lawsuit accusing OpenAI of harming children. Uthmeier also asked the court to order OpenAI to prohibit minors from using ChatGPT and to prevent the company from attributing human characteristics to the chat platform.Florida sued OpenAI in June, accusing it of misrepresenting the safety of ChatGPT, claiming that the platform provided information to school shooters, offered guidance on self-harm, and made young users addicted. The lawsuit was triggered by a shooting incident at a university in Tallahassee last year, as well as several other incidents in other states where it was alleged that ChatGPT provided information to individuals who later committed acts of violence. Uthmeier, a Republican, is also the first state attorney general to sue OpenAI over its impact on young users, and the company is facing related lawsuits filed by individuals and families.OpenAI spokesperson Drew Pusateri stated that the company has paused training its most powerful models and will not resume until additional safety measures are implemented, expressing a willingness to work with Florida and other states to promote pragmatic policies applicable across the industry. The company denies responsibility in these cases, stating that the chatbot provides information widely available online and continuously updates its safety tools. The request also cited recent comments from a former OpenAI employee and a current board member, stating that the development of artificial intelligence could lead to the end of humanity and must be slowed down.

According to Cointelegraph, the prediction market platform Kalshi won an important ruling from the U.S. Sixth Circuit Court of Appeals, allowing it to continue operating its event contracts in Ohio and Tennessee.The ruling involves a dispute between Kalshi and the relevant state regulatory agencies regarding whether event contracts can continue to be offered. Cointelegraph stated that the court ruled to allow Kalshi's event contracts to continue operating in the aforementioned two states.

Former SEC Acting Chairman Mark Uyeda stated that the agency will withdraw the cryptocurrency case in early 2025 to maintain its credibility in court before a significant policy shift.

According to Decrypt, court documents unsealed in the lawsuit between The New York Times and OpenAI and Microsoft show that Microsoft employees discussed whether OpenAI's use of news articles to train its models constituted "the largest labor theft in human history," and could potentially trigger a "doom loop" that leads to a decline in model quality. A 2023 internal Microsoft memo warned that millions of people worldwide would soon view the large model's "consumption" of their works as "an unprecedented and astonishing theft," and stated that large AI models are "products that destroy their own supply chains."Microsoft stated in the documents that these memos were written by Director of Applied Science Brent Hecht and do not represent the company's views, as his role is to provide "different and asymmetric perspectives." Microsoft CEO Satya Nadella testified that "any content behind a paywall should be authorized by those who wish to use it," and stated that if he had known in advance that OpenAI was using paid content for training, he would have exercised Microsoft's rights to demand that the model be retrained.Additionally, an OpenAI employee had mentioned to President Greg Brockman the construction of "hacker methods" to bypass The New York Times paywall, to which Brockman replied, "Nice." Both OpenAI and Microsoft argue that the relevant training falls under fair use. The case was initiated by The New York Times at the end of 2023, and 11 publishers have since joined the lawsuit.

The French Council of State rejected the urgent application filed by the cryptocurrency companies Bull Bitcoin and Paymium, refusing to immediately suspend the implementation of the French decree enforcing the EU Directive on Administrative Cooperation No. 8 (DAC8).The applicants argued that the centralized collection of personal and financial data from digital asset users could lead to data breaches, extortion, and personal safety risks. The court found that the applicants failed to demonstrate an urgent situation sufficient to support an emergency suspension. The lawsuit seeking to fully revoke the decree by Bull Bitcoin is still under review. DAC8 will take effect in the EU on January 1, 2026, and registered service providers must complete their first declaration for the year 2026 by September 30, 2027.

On September 14, 2026, Judge Arun Subramanian of the United States District Court for the Southern District of New York issued an opinion and order denying the plaintiff's motion for a preliminary injunction. The case number is 1:26-cv-05474-AS, with the plaintiffs being market makers Susquehanna Securities, LLC and Susquehanna Investment Group, and the intervenor being market maker Citadel Securities LLC, while the defendants are John Does 1 through 100. The plaintiffs filed the lawsuit on June 29, 2026, claiming violations under Section 20A of the Securities Exchange Act of 1934 and unjust enrichment claims.The plaintiffs allege that the defendants traded on significant non-public information, specifically an announcement on May 22, 2026, regarding "the Chinese government's crackdown on cross-border trading platforms," which led to a collapse of the relevant securities. The plaintiffs sought a preliminary injunction to restrict the 40 defendants, as reduced, from transferring, encumbering, removing, or otherwise disposing of the profits obtained through the alleged insider trading activities in their accounts at third-party brokerage firms, or sought a seizure order. The court found that the plaintiffs failed to demonstrate the elements necessary to prove that they may suffer irreparable harm, and the motion was denied.

According to CNN, FTX founder SBF filed an appeal to the U.S. Supreme Court on Thursday, seeking a new trial and the reversal of a court order that sentenced him to forfeit $11 billion in assets. SBF was sentenced to 25 years in prison in 2024. Prosecutors stated that he directed the transfer of billions of dollars from the cryptocurrency exchange FTX to his controlled hedge fund Alameda Research, which were then used for high-risk investments, political donations, and personal expenses.The appeal filed to the Supreme Court primarily involves a technical legal issue regarding the submission of evidence during the trial, as well as whether SBF should be allowed to prove that his investments ultimately were profitable and sufficient to compensate for the losses suffered by FTX customers. Additionally, he argued that the forfeiture of $11 billion in assets violates the Eighth Amendment of the U.S. Constitution, which prohibits excessive fines.

According to Hyperliquid News, the Hyperliquid Policy Center has submitted a legal opinion to the federal court in Washington, D.C., seeking to dismiss the lawsuit filed by the Chicago Mercantile Exchange (CME) against the U.S. Commodity Futures Trading Commission (CFTC).The lawsuit involves the CFTC's prior approval of the launch of regulated cryptocurrency perpetual contracts in the U.S. through Kalshi. CME had previously filed a lawsuit regarding the related regulatory decision, while the Hyperliquid Policy Center supports the CFTC's side, arguing that the court should dismiss CME's lawsuit.

According to CoinDesk, the Crypto Innovation Committee (CCI) and the Blockchain Association filed a preliminary injunction motion on Wednesday in the Sangamon County Circuit Court of Illinois, requesting to suspend the enforcement of the state's digital asset transaction tax during the litigation. The tax rate is 0.2% and applies to entities headquartered in Illinois or providing services in the state with total revenue exceeding $100,000, which is set to take effect on January 1, 2027.The two lobbying organizations, along with the Digital Chamber, filed a lawsuit against Illinois last month, claiming that the tax violates the Internet Tax Freedom Act and the U.S. Constitution, and that Illinois's approach to taxing digital assets differs from other financial services.CCI CEO Ji Hun Kim stated that businesses are forced to spend millions of dollars to build compliance systems, yet basic issues such as the tax subjects and timing remain unclear. Blockchain Association CEO Summer Mersinger warned that if the law is enacted, Illinois will not be the last state to attempt this.