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According to Decrypt, Judge Rosemarie Aquilina of the Ingham County Circuit Court in Michigan has issued a preliminary injunction against the prediction market platform Kalshi, requiring it to stop offering sports betting-related contracts to Michigan residents. The court found that Kalshi's related business is essentially "sports betting disguised as investment opportunities."Under the order, Kalshi must block in-state users through a third-party geolocation service licensed by the Michigan betting regulatory agency, or face a daily fine of $500,000. The injunction also prohibits it from allowing account registration, deposits, advertising, and similar sports betting product features for Michigan residents until a final judgment is made in the case.

U.S. Federal Judge Rita Lin issued a partial summary judgment in a 59-page ruling regarding Anthropic's lawsuit against the Trump administration, determining that the government's punishment of Anthropic for publicly refusing to allow the military to use its Claude large model for mass surveillance of U.S. citizens and lethal autonomous operations constituted illegal retaliation, violating the First Amendment, due process clause, and the Administrative Procedure Act. The judge also revoked the related designations and Defense Secretary Hegseth's injunction, issuing a permanent injunction.The controversy arose from the Pentagon's demand that Anthropic remove all usage restrictions and accept terms allowing "all lawful uses," while Anthropic maintained its last two bottom lines. On February 27, 2025, Trump ordered all federal agencies to cease using the company's technology, and Hegseth subsequently prohibited any military contractors from doing business with it. During this process, the government abandoned its core claims, acknowledging that Anthropic had no backdoor access to the deployed models and that the risks of Claude were no greater than those of other "black box" systems. Lin pointed out that the government's punishment under the guise of "national security" was not a blank check, and that the government had been operating under the preliminary injunction since March without indicating any harm.Anthropic did not achieve a complete victory, as its claim that Trump's directive exceeded presidential authority was dismissed. Anthropic informed the court that if the relevant measures continued, its defense-related revenue would decrease by 50% to 100%, resulting in a loss of billions of dollars in overall revenue by 2026.

According to a report by Reuters, British judge Samuel Goozee dismissed the extradition defense of former Saitama CEO Manpreet Kohli on August 19 and transferred the case to the UK government to make a decision on the US extradition request. Kohli can still appeal, and the extradition has not been finalized; he is currently released on bail set at £200,000 (approximately $272,400).US prosecutors have charged Kohli with wire fraud, market manipulation, and related conspiracy, as well as operating an unlicensed remittance business, involving the Ethereum-based token Saitama, which once had a market value of about $7.5 billion. Kohli defended himself by arguing that the US could not adequately handle his mental health and the risk of suicide during detention, but the judge believed that the transfer and the safeguards of the US prison system could reduce the risk to an acceptable level. Previously, a federal judge in Boston had also dismissed his motion to dismiss the charges.The case stems from the "Operation Token Mirrors" investigation initiated by the US Department of Justice in October 2024, involving fraud and wash trading. Prosecutors allege that 18 individuals, including Kohli, coordinated multiple wallets to purchase tokens and paid ZM Quant and Gotbit to conduct wash trading on several exchanges, with Kohli suspected of profiting about $20 million. Gotbit has admitted to manipulating token prices and trading volumes and was ordered to pay $23 million in June 2025, while its founder Aleksei Andriunin was sentenced to 8 months in prison.

The CEO of the World Gold Council recently stated that he personally believes Bitcoin will ultimately "go to zero," saying, "My personal view on Bitcoin is that it will go to zero." In response, Binance co-founder CZ posted that many people have made incorrect judgments about cryptocurrencies in the past, but understanding this field takes time, and he stated, "I also can't be 100% sure that I'm right, after all, we are all human."Analysis suggests that the view of Bitcoin "going to zero" has long existed in recent years, with critics mainly arguing that it lacks the cash flow support of traditional assets and has excessive price volatility; while supporters believe that Bitcoin possesses decentralization, scarcity, and digital value storage attributes, and may become part of the global financial system in the future.

A U.S. judge has suspended the CFTC's civil case against Army Sergeant Van Dyke. The sergeant is accused of using non-public information to profit over $400,000 on Polymarket regarding the fate of Maduro.

A federal judge in Michigan rejected Coinbase's request for a preliminary injunction to block state enforcement of sports event contracts. U.S. District Judge Shalina Kumar of the Eastern District of Michigan ruled on Thursday that Coinbase failed to demonstrate that its claims were likely to succeed on the merits of the case, namely that federal law takes precedence over Michigan's jurisdiction.The cryptocurrency exchange sued the state of Michigan in December 2025, claiming that prediction markets fall under the exclusive jurisdiction of the Commodity Futures Trading Commission (CFTC) under the Commodity Exchange Act (CEA), rather than state regulatory agencies.Coinbase specifically sought to provide access to event contracts issued by Kalshi for customers on its platform, including those in Michigan. According to the complaint, the exchange claimed that Michigan's laws constitute a "conflict of priority," as these laws undermine Congress's efforts to establish a unified federal regulatory framework.

U.S. District Judge Jed S. Rakoff in New York has denied the emergency temporary restraining order application filed by the Commodity Futures Trading Commission (CFTC), which aimed to stop the state of New York from advancing its enforcement case against the prediction platform Kalshi. The judge found that the CFTC failed to demonstrate a likelihood of success on the merits of its case and did not prove the existence of irreparable harm. However, the denial was made "without prejudice," allowing the CFTC to refile the relevant motion by August 7.New York Attorney General Letitia James filed a lawsuit against Kalshi last Friday, accusing it of operating an illegal unlicensed prediction business by offering contracts on events such as sports and elections. The state of New York had issued a cease-and-desist order to Kalshi as early as October 2025. The core dispute in this case revolves around whether federal commodity law takes precedence over state law—state authorities believe that event contracts are predictions subject to state law, while the CFTC and Kalshi argue that they are derivatives under the exclusive jurisdiction of the CFTC.

Argentinian federal judge Marcelo Martinez ordered the identification and freezing of a group of wallets related to Libra, after the federal police's cybercrime technology department tracked the flow of related funds across multiple cryptocurrency networks since May. The investigation involves 8 wallets marked as "Libra team," which are directly related to the token issuance.Reports indicate that 4 of these wallets had previously pooled nearly $57 million into one address, which had been frozen and then unfrozen by the U.S. District Court for the Southern District of New York. On May 10, the related funds were transferred to a Tron address through an interoperability protocol, amounting to nearly $500,000. At least 10 of the 17 transactions passed through Binance, with 8 wallets associated with Bybit, 2 with OKX, and 2 with Bitfinex.Some users of the related $8.2 million in funds may be identifiable through the KYC rules of centralized exchanges. The remaining funds are currently managed by Libra Trust, which plans to allocate them as funding to Argentine companies before November, with 71 applications pending approval.

A fraud review commissioned by the UK government suggests that the Judicial College should provide training for all judges and magistrates in England and Wales to address the increasing cases involving AI fraud and the use of cryptocurrency for money laundering. The report states that the overall Fraud Act 2006 can be used to handle AI fraud, but the issue lies in the courts' lack of preparedness to hear related cases.The report recommends evaluating whether the existing "long and complex trials" course should be updated or replaced with specialized modules on fraud and related crimes, and considers mandatory training for judges who may hear complex fraud cases. The report claims that fraud could soon account for half of all crime in England and Wales, with an estimated 4.1 million cases occurring within a year by June 2025, affecting 1 in every 14 adults and 1 in every 4 businesses. The Financial Ombudsman Service estimates that currently over half of investment scams involve crypto assets.The report also mentions the case of Qian Zhimin, who operated a Ponzi scheme in China, defrauding over 128,000 victims of approximately £5 billion and laundering the proceeds into Bitcoin. This case resulted in the largest confirmed Bitcoin seizure in UK history, exceeding 61,000 BTC, and Qian Zhimin was sentenced to 11 years and 8 months in prison at Southwark Crown Court in November.

A federal judge in Connecticut has reinstated the common law fraud claims by investors in the Genesis Yield lawsuit against Digital Currency Group founder Barry Silbert, DCG, and other defendants, while allowing the federal securities law-related claims in the case to proceed. This ruling revises an earlier decision made by the court in February of this year.The plaintiffs previously argued that the court had the authority to hear their state law claims under the Class Action Fairness Act. Judge Stefan Underhill accepted this view and reconsidered the relevant state law claims. The case revolves around the failed Genesis Yield lending program, which allowed users to deposit cryptocurrency assets and earn interest. Investors allege that Silbert, DCG, and other defendants misled customers about the company's financial health and risk management, despite knowing there were issues, before Genesis suspended withdrawals and filed for bankruptcy in early 2023.However, not all state law claims were reinstated. The court dismissed four state consumer protection-related claims and paused three other related claims. Overall, this ruling has brought the fraud liability dispute against DCG and Silbert back into focus in the case.

The decentralized AI infrastructure network DGrid AI today released its latest research paper "PoQ-Judge," proposing a multi-architecture quality assessment framework that does not require reference answers. This means that in real deployment environments, there are often no standard answers for comparison, yet the protocol can still reliably score the quality of model responses and allocate incentives accordingly. This is a key piece that has long been missing in DGrid's decentralized LLM inference quality assessment system.PoQ (Proof of Quality) is a consensus mechanism independently developed by DGrid, designed to prevent model providers from deploying low-quality models, fabricating data, or hiding computational costs at the protocol level, thereby ensuring service quality and pricing transparency. The DGrid team has been continuously working on PoQ and has published four research papers to date. The newly released PoQ-Judge has trained three assessment models covering different quality and cost scenarios, achieving a correlation of up to 0.747 with human scoring on the retention test set, significantly outperforming all previous reference answer-based evaluators, while reducing assessment costs by over 72% through cascading evaluation and online weight calibration.With the implementation of PoQ-Judge, the entire process from quality assessment → scoring → incentive allocation has completely eliminated reliance on reference answers, thus establishing a closed loop for the quality of decentralized LLM inference.DGrid AI is a decentralized AI intelligent network dedicated to building an open, transparent, and community-driven AI infrastructure. Focusing on model invocation and application experience, DGrid has launched several core products: the AI Gateway that aggregates mainstream large models globally, the one-click deployment platform for AI agents DClaw, the anonymous model competition platform AI Arena, and the intelligent model recommendation assistant Dori, providing one-stop services for developers and users. It is reported that DGrid AI's revenue has surpassed 20 million dollars in six months.

According to The Block, New York Supreme Court Judge Kathy J. King signed an order to suspend the litigation seeking to claim ownership of 39,069 dormant Bitcoin wallets, with a hearing scheduled for July 14 on a key amicus brief.The plaintiffs in the case are known as "Noah Doe" and two shell companies, seeking to claim these wallets under New York State's lost property law. Attorney Ian R. Cohen submitted an amicus brief opposing the plaintiffs' claims. He argues that the lost property law pertains to tangible items, while blockchain addresses are always visible to the world; if the original owner cannot access their assets due to a security breach, it constitutes a passive loss of access rather than a voluntary relinquishment.Cohen emphasized that the plaintiffs do not have the private keys, and the blockchain network "structurally disregards" judicial rulings; the court's declaration cannot truly transfer ownership of the assets and may instead be used by the plaintiffs to mislead exchanges and custodians.Previously, on May 26, it was reported that a U.S. man and two companies filed a lawsuit seeking ownership of over 39,000 dormant Bitcoin addresses.

U.S. Judge Margaret M. Garnett in New York postponed the ruling on Aave's emergency application on Wednesday, which aims to unfreeze $71 million in ETH related to the Kelp DAO hacking incident, and requested both parties to submit supplemental briefs before the hearing on June 5. Aave is attempting to reclaim the $71 million in ETH frozen on Arbitrum to assist in the asset recovery efforts from this hacking incident—Kelp DAO suffered losses of up to $293 million from the hack, making it one of the most severe security incidents in the DeFi space this year.However, the U.S. law firm Gerstein Harrow LLP submitted a restraining order to the court in early May, claiming that its client has rights to the aforementioned funds. Aave then filed an emergency motion to lift the freeze, warning that if the funds are not released in a timely manner, it could lead to user liquidations and potentially impact the entire DeFi market. Judge Garnett noted in her ruling that Aave failed to adequately explain how user funds would incur "compound losses" if the restraining order remained in place. She also acknowledged the complexity of the case, the risks faced by the victims, and requested both parties to provide supplemental statements on six key issues, including: whether the hacking transaction is subject to New York state sanctuary principles, the legal distinctions between fraud and theft and what rights the hacker has over the stolen assets, which laws apply to determine the priority of claims for frozen assets, whether constructive trusts are an appropriate remedy, and whether Aave or Arbitrum can identify individual victims and proportionally return assets. Both parties must submit supplemental briefs by May 22.Meanwhile, the overall compensation work for Kelp DAO is progressing. Kelp and Aave announced on Tuesday that the rsETH held by the hacker has been destroyed on Arbitrum, and approximately $278 million in loss tokens will be restored within the next two weeks through the funds of the Aave Recovery Guardian multi-signature wallet. Once the relevant smart contracts are reactivated, all functions of rsETH will return to normal.

U.S. District Judge Lewis Kaplan denied former FTX CEO SBF's request for a rehearing and harshly criticized the so-called new evidence he presented as baseless and "conspiracy-laden." In a court order issued on Tuesday, the judge pointed out that SBF's claims that FTX was actually solvent, that the Department of Justice was concealing information, and that witnesses were afraid to testify due to government threats were completely contradictory to the record.SBF originally accused former FTX Digital Markets co-CEO Ryan Salame and former data science chief Daniel Chapsky of not appearing in court out of fear, but the judge emphasized that SBF could have summoned or compelled them to testify but took no action. In November 2023, SBF was found guilty on all seven counts of fraud by a New York jury and was subsequently sentenced to 25 years in prison. Last week, he voluntarily withdrew his motion for a new trial, stating that he could not obtain a "fair hearing" from Judge Kaplan, but the appeal is still ongoing.The judge also criticized SBF for creating public opinion through interviews, stating that the so-called new facts had already been raised multiple times. SBF had sought a pardon from Trump, but Trump has also made it clear that there are no such plans.

SBF wrote to New York Judge Lewis Kaplan, announcing the temporary withdrawal of the Rule 33 motion for a retrial. SBF stated that he needed to focus on answering the judge's question about whether his lawyers were involved in drafting the motion, and he believed he could not receive a fair hearing before that judge, so he decided to withdraw the motion. He plans to reserve the right to resubmit the motion after a ruling on the direct appeal and the related request for reassignment of the judge.Previously, SBF was sentenced to 25 years in prison for defrauding clients and investors. In his letter, he confirmed that the motion was primarily completed through his independent legal research and drafting while in Brooklyn prison, with his parents only providing editorial suggestions and assistance with printing.

According to reports from The Paper, the People's Court of Xingqing District in Yinchuan City recently concluded a civil and commercial dispute arising from entrusted investment in virtual currency. In the case, the plaintiff entrusted funds to the defendant for virtual currency investment, and after failing to recover the investment amount, filed a lawsuit in court on the grounds of "unjust enrichment."After reviewing the case, the presiding judge determined that it was indeed a contractual relationship of entrustment and clarified the litigation risks and legal pros and cons to both parties, ultimately facilitating the plaintiff's withdrawal of the lawsuit against some defendants, with another defendant returning the principal investment. The case was successfully resolved through mediation.The judge also reminded that according to the judicial viewpoint of the Supreme People's Court, entrusted investment contracts signed after the central bank and seven other departments issued a risk announcement on virtual currency on September 4, 2017, will be deemed invalid due to illegal agency matters, and investors should carefully assess the relevant legal risks.

According to Cointelegraph, a court in Texas, USA, dismissed a lawsuit filed by crypto developer Michael Lewellen. Lewellen sought a declaratory judgment from the court, stating that his developed software Pharos (used for donating to charitable crowdfunding activities) would not be prosecuted for violating money transmission laws. U.S. Chief District Judge Reed O'Connor dismissed the case on Wednesday, stating that Lewellen failed to demonstrate a credible and imminent threat of prosecution.Lewellen expressed his disappointment on the X platform, saying, "I am disappointed that the court dismissed my lawsuit today." The court's dismissal opinion also referenced a memorandum from the U.S. Department of Justice, which stated that the department would no longer prosecute virtual currency exchanges, mixing services, or offline wallets for actions or inadvertent violations by their end users. Lewellen added, "The non-binding memorandum from the Department of Justice cannot replace true legal certainty."

According to Jinshi News, Michael Pearce, the Chief Economist for the U.S. at Oxford Economics, stated that the market is gradually ruling out the possibility of interest rate cuts in the short term, but this may be a misjudgment. He pointed out that although economic growth is stronger, it has not significantly tightened labor market conditions, which explains why most officials still believe there is a path for interest rate cuts this year. Pearce also mentioned that the market believes this situation leans more towards mild disinflation rather than exacerbating inflation in terms of long-term inflation impact.

According to Jinshi reports, Federal Reserve Chairman Powell stated that rising energy prices will drive up inflation, and it is still too early to judge the extent.

According to The Block, a federal judge in Alabama has dismissed the lawsuit accusing Binance entities and Binance.US operator BAM Trading Services of funding terrorism, ruling that the plaintiff's complaint does not meet the basic standards for a federal complaint.The district judge noted in the order that the plaintiff's amended complaint is flawed both legally and factually, characterizing it as a typical "shotgun complaint"—mixing multiple defendants and plaintiffs without clearly associating specific allegations with particular parties.The lawsuit was filed by victims and families of the attacks by Hamas and the Palestinian Islamic Jihad, seeking damages under the Anti-Terrorism Act and other laws. The complaint exceeds 100 pages and contains hundreds of allegations but repeatedly groups the defendants together without specifying the particular actions each entity is alleged to have taken. The judge has given the plaintiffs until April 10 to submit a revised complaint and warned that failure to correct the deficiencies would result in the case being dismissed.