ChainCatcher news, according to The Block, the U.S. SEC has submitted documents to the court requesting the dismissal of the lawsuit against the cryptocurrency exchange platform Binance and its former CEO Changpeng Zhao. The U.S. SEC, Binance, and the lawyers for Binance founder CZ have signed a joint dismissal agreement, which was submitted to the federal court in Washington, D.C. They stated that based on policy considerations, they believe it is appropriate to dismiss the case.The lawsuit began in 2023, with the SEC accusing Binance of operating without registration and making false statements regarding trading controls. In 2023, Binance pleaded guilty to violating the Bank Secrecy Act and paid a $4.3 billion fine. Documents show that the SEC's newly established crypto task force has recently engaged in extensive consultations with the industry. The SEC has recently dismissed lawsuits against several crypto companies, including Coinbase and Uniswap. SEC Commissioner Peirce stated that enforcement should target clear violations, but there will still be a crackdown on illegal activities in the crypto space.

ChainCatcher news, according to FinanceFeeds, SEC Commissioner Caroline A. Crenshaw strongly condemned the agency's withdrawal of three high-profile lawsuits against unregistered dealers on May 22.In a public statement, Crenshaw stated that the defendants' actions fully align with the statutory definition of "dealer," and that federal courts have ruled that the SEC's lawsuits have sufficient legal basis.She warned that abandoning the enforcement of dealer registration rules would lead to a surge of "toxic financing," harming the interests of investors and issuers.Crenshaw pointed out that this is yet another dismissal following crypto-related cases involving Coinbase, Consensys, and Kraken, reflecting a concerning shift in the SEC's enforcement stance that will ultimately undermine investor confidence and the U.S. securities law system.

According to ChainCatcher news reported by Cointelegraph, cryptocurrency exchange Coinbase and its executives have been hit with a class-action lawsuit by investor Brady Nessler due to a data breach incident and undisclosed regulatory violations in the UK. The lawsuit states that the data breach in May caused a 7.2% drop in stock price in a single day, while a $4.5 million fine in July 2024 for violating UK FCA agreements also caused stock price fluctuations. Coinbase previously disclosed that internal personnel were bribed to leak user data, potentially resulting in a $400 million loss.This is the first class-action lawsuit seeking compensation for the decline in Coinbase's stock price, covering stock buyers from April 2021 to May 2025. The lawsuit accuses the company of failing to timely disclose regulatory violation information, allegedly inflating the stock price. Coinbase has not yet commented. The platform has previously faced multiple lawsuits due to data breaches, including allegations of mishandling user biometric data.

ChainCatcher news, according to The Information, Musk's legal team has modified the lawsuit against OpenAI, reintroducing RICO allegations.Previously, the judge had dismissed Musk's three allegations against OpenAI for violating the Racketeer Influenced and Corrupt Organizations Act (RICO) and the "implied covenant of good faith and fair dealing."

ChainCatcher news, according to The Block, Uniswap responded that the lawsuit is "baseless," emphasizing that its protocol code has been publicly available for a long time, and condemned the move as an interference with the momentum of DeFi development. Bancor's actions have sparked controversy on social media, being criticized as "against the spirit of Web3." Uniswap CEO Hayden Adams also mocked the lawsuit in a post, calling it "not worth mentioning."Previous news, Bancor sued Uniswap for infringing its DEX smart contract technology patent.

ChainCatcher news, according to Decrypt, Binance has requested the Delaware bankruptcy court to dismiss FTX's $1.76 billion clawback lawsuit, claiming it is "legally unfounded" and accusing FTX's collapse of being due to "one of the largest corporate frauds in history" led by its founder Sam Bankman-Fried, rather than Binance's actions.FTX filed the lawsuit last November to reclaim $1.76 billion in cryptocurrency assets transferred during a stock buyback in July 2021, stating that FTX was insolvent at the time and misappropriated customer funds to complete the transaction.Binance countered that FTX continued to operate for 16 months after the transaction, and that Zhao Changpeng's tweet on November 6, 2022, about liquidating FTT holdings was not false or misleading.

ChainCatcher news, Defillama founder 0xngmi commented on the collective lawsuit against Strategy, stating, "The lawsuit seems to be a complaint that Strategy underestimated the funds that could be lost when Bitcoin drops.But what can you expect if you buy a company that claims to be 'Bitcoin leveraged'? What happens when Bitcoin drops is very obvious."

ChainCatcher message, according to the documents submitted to the SEC by Strategy, on May 16, 2025, a class action lawsuit was filed in the Eastern District of Virginia Federal Court against Strategy and its executives (including Michael J. Saylor, Phong Le, and Andrew Kang). The plaintiffs allege that the defendants violated Section 10(b) and Section 20(a) of the Securities Exchange Act and its related rules during the period from April 30, 2024, to April 4, 2025, specifically including:Making false and/or misleading statements regarding the expected profitability of the company's Bitcoin investment strategy;Failing to disclose the risks associated with Bitcoin volatility, as well as significant losses that may result from the update of accounting standards (ASU 2023-08).The lawsuit seeks compensation for losses that investors may have suffered due to the aforementioned actions.

ChainCatcher news, a group of Coinbase users from Illinois has filed a class-action lawsuit against the cryptocurrency exchange, accusing it of violating the state's Biometric Information Privacy Act (BIPA) with its identity checks.Plaintiffs Scott Bernstein, Gina Greeder, and James Lonergan claim in a complaint submitted to federal court on May 13 that Coinbase "massively collects" facial recognition information to meet its "Know Your Customer" (KYC) requirements, violating BIPA as users were not notified.The group claims that Coinbase did not provide written notice to users regarding the collection, storage, or sharing of their biometric data, as well as the purpose of data use and retention schedule."Coinbase has not publicly provided a retention schedule or guidelines for the permanent destruction of the plaintiffs' biometric identifiers, which violates BIPA," they allege.The complaint states that Coinbase requires users to verify their identity by uploading government-issued photo IDs and selfies, which are then sent to third-party facial recognition software for scanning and extraction of facial geometric data. This process captures biometric identifiers without obtaining informed written consent from users, the lawsuit claims, which violates BIPA.

ChainCatcher news, the Singapore High Court ruled in favor of Sonic Labs' motion to force the Multichain Foundation into liquidation to recover the funds stolen during the 2023 hack.Sonic Labs CEO Michael Kong stated in a post on X on May 14 that the team behind Sonic felt they had no choice but to file a lawsuit to shut down Multichain, as its former employees were "completely uncooperative."

ChainCatcher news, Coinbase has recently agreed to pay $2.25 million in settlement with marketing company Marden-Kane to resolve a years-long class action lawsuit.The lawsuit alleged that Coinbase did not clearly inform users that they could participate for free in the Dogecoin trading lottery held in June 2021, which was accused of false advertising. According to the settlement agreement, U.S. users who traded at least $100 worth of Dogecoin during the event will receive compensation, amounting to the fees and price differences incurred from their first transaction.Data shows that Coinbase earned approximately $1.3 million in fee revenue from related transactions during the event. The lawsuit began in 2021, with plaintiff David Suski claiming that he traded through Coinbase despite already holding Dogecoin because he did not notice the terms for free participation in the event. The U.S. Supreme Court rejected Coinbase's request for mandatory arbitration last year.

ChainCatcher news, according to Cointelegraph, BSV investors are attempting to restart the lawsuit filed in 2019 due to Binance delisting BSV, with the plaintiffs claiming that the decision suppressed the price of BSV. The original lawsuit claimed $9 billion, and investors believe that the delisting was a major reason for the long-term decline in BSV's price and the lack of investor interest.Currently, the lawsuit requests a reconsideration of the relevant claims dismissed by the UK Competition Appeal Tribunal in 2024. If successful, the compensation amount could reach $13 billion.

ChainCatcher news, according to PRNewswire, FTX Exchange and the FTX Asset Recovery Trust Fund have filed lawsuits against two token issuers to recover their entitled token assets. The two issuers are NFT Stars Limited and KUROSEMI INC. (Delysium).FTX stated that after multiple attempts to communicate with these issuers were unsuccessful, they had no choice but to take legal action. Currently, FTX is reaching out to other token and cryptocurrency issuers, and if the relevant parties fail to respond in a timely manner, FTX will file more lawsuits.

ChainCatcher News, the U.S. Securities and Exchange Commission (SEC) has submitted a joint statement to the Seattle federal court announcing the dismissal of the unregistered securities issuance lawsuit against the blockchain company Dragonchain and its founder Joseph Roets.The SEC stated that this move stems from the progress made by its cryptocurrency asset special working group in developing a regulatory framework. Previously, the SEC had accused the company of raising $16.5 million through an ICO in 2017.

ChainCatcher news, according to Cointelegraph, the U.S. Securities and Exchange Commission (SEC) announced that it will no longer refile the securities fraud lawsuit against Hex founder Richard Heart. Previously, the court dismissed the SEC's original lawsuit, stating that the regulatory agency failed to prove jurisdiction over Heart's activities. Heart called this a victory for open-source software, cryptocurrency, and freedom of speech.

ChainCatcher news, according to CoinDesk, Matter Labs, the company behind the Layer 2 blockchain ZKSync, has been sued for intellectual property theft by the now-defunct digital asset banking platform BANKEX.It is reported that BANKEX CEO Igor Khmel and the BANKEX Foundation filed a lawsuit in the New York State Supreme Court on March 19, accusing former BANKEX employees Alexandr Vlasov and Petr Korolev of stealing their technology to establish Matter Labs, which has raised over $450 million in venture capital and has become a major player in the blockchain industry.

ChainCatcher news, according to Cointelegraph. Reported that U.S. District Judge Barbara Rothstein ruled on April 21 to transfer a lawsuit accusing Binance of aiding money laundering from Washington to the Southern District of Florida.The judge stated that the case has substantial overlap with a similar lawsuit filed in Florida in June 2023, and the transfer could avoid duplicate litigation and improve judicial efficiency. Although the plaintiff's attorney argued that there are differences between the two lawsuits, including the Washington case naming former CEO Zhao Changpeng as a defendant, the judge found that the categories of plaintiffs involved in both cases are sufficiently similar to apply the "first-filed rule."The case was initially filed in Washington in August 2024, accusing the Binance platform of being used to launder stolen cryptocurrency.

ChainCatcher news, according to a report by law360.com citing documents submitted by the U.S. Department of Justice (DOJ) last Friday, the DOJ during the Trump administration had pushed to reduce enforcement against cryptocurrencies, but this did not prevent federal prosecutors from pursuing charges against SafeMoon's former CEO Braden Karony.Karony faces fraud charges related to the collapse of the token. He is set to go on trial in May, which will be a key test of whether the DOJ's new policy will protect executives from past allegations of misconduct.On April 18, federal prosecutors in the Eastern District of New York confirmed they would continue to pursue the case. Karony is charged with conspiracy to commit securities fraud, wire fraud, and money laundering, and he has pleaded not guilty, having been released on a $3 million bail since February.Previous report, SafeMoon CEO requests to delay his trial due to "policy changes" by the SEC during Trump's term.

ChainCatcher news, according to the Coinbase blog, Coinbase responded to the securities enforcement action initiated by the Oregon Attorney General, stating that the lawsuit is as baseless as the previous lawsuit filed against Coinbase by the SEC, and relies on outdated theories that have already been dismissed.Coinbase stated that it will vigorously respond to the lawsuit, defend the rights of the industry and users, and support federal digital asset legislation to regulate the industry, emphasizing that the Oregon action hinders the progress of the crypto industry.