Law and legal issues

Kristin Johnson of the Commodity Futures Trading Commission urged crypto industry whistleblowers to come forward in the aftermath of FTX Group's implosion, saying tipsters have previously received millions of dollars for their help.

President Biden called on the U.S. Supreme Court to let his student-loan relief plan take effect, setting the stage for a multibillion-dollar showdown that could affect more than 40 million borrowers.

A former Deutsche Bank trader cleared of charges that he rigged the Libor benchmark rate has sued the bank for malicious prosecution, saying the company made false and misleading statements to get him prosecuted in the U.S.

A former Citigroup trader claims the bank purposely mischaracterized his comments in online chat groups to try to make him its scapegoat in a U.S. criminal probe of foreign-exchange price fixing.

FTX co-founder Samuel Bankman-Fried, one of his related companies and two other top executives at the collapsed cryptocurrency exchange received massive loans from an affiliated trading arm, Alameda Research, according to a bankruptcy court filing Thursday.

The embattled cryptocurrency mogul Sam Bankman-Fried is undermining efforts to reorganize his crumbling empire with "incessant and disruptive tweeting" that appears aimed at moving assets away from the control of a U.S. court in favor of one in the Bahamas, U.S. lawyers for the bankrupt crypto platform FTX said in a court filing.

The Kentucky Bankers Association is seeking to halt Attorney General Daniel Cameron's investigation into climate commitments made by six large banks. The suit alleges that the AG overstepped his authority by seeking to compel the banks to turn over certain documents and communications.

The cryptocurrency lender BlockFi is preparing to file for bankruptcy within days, according to people with knowledge of the matter who asked not to be named because discussions are private.

While many of the details around FTX's remarkable collapse will only be revealed as it progresses through bankruptcy, interviews with FIA conferencegoers this week show they're facing a reckoning of their own.

The Biden administration is considering extending its pause on student loan repayments, now set to resume Jan. 1, in response to legal challenges to its student-debt forgiveness program, according to people familiar with the internal discussions.

The Consumer Financial Protection Bureau is challenging a recent appeals court decision that its funding through the Federal Reserve Board violates the separation of powers doctrine. That ruling "threatens to inflict immense legal and practical harms" on financial regulation, the CFPB says.

Voyager Digital Ltd. is trying to sign a deal to sell itself to one of the bidders that lost the auction for the bankrupt crypto lender, after the winner of that auction, FTX, was itself forced into insolvency proceedings.

The stunning collapse of the cryptocurrency platform FTX is being investigated by federal prosecutors in Manhattan, people familiar with the inquiry said.

Goldman Sachs Group paid out well over $12 million to a veteran executive who complained internally about a toxic workplace for women in the highest echelons of Wall Street's most prestigious firm.

In hindsight, Sam Bankman-Fried's April interview with Bloomberg's "Odd Lots" podcast was a harbinger of his epic collapse last week. He described a "box" that has value only because other people put money in it, and, when confronted with the idea that he described a Ponzi scheme, admitted there was a "depressing amount of validity" to that.

The ruling means that a lower court's pro-consumer decision cannot be used as a precedent in other litigation. Consumer advocates had hoped the case would make it more difficult for debt buyers in North Carolina to file a large volume of lawsuits, which often lead to default judgments against borrowers.

The crisis sparked by the collapse of Sam Bankman-Fried's FTX crypto empire ensnared BlockFi, a troubled digital-asset lender once worth $3 billion but which has now limited activity on its platform.

Spencer Savings in New Jersey is taking investor Larry Seidman to court, alleging he's conspiring with other customers to convert the bank to stock ownership. Seidman says it's a farce: "I'm in a conspiracy with people I don't know."

Sam Bankman-Fried's digital-asset empire filed for Chapter 11 bankruptcy in Delaware, capping a rapid downfall for the 30-year-old entrepreneur and onetime crypto king.

The Canadian-owned bank vowed to appeal the large verdict, which illustrated the risks that banks take on when they shoulder the liabilities of companies they acquire.