‘Enforcement 40′ for 2017
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Judge to Let Cooley Bow Out of Representing Elizabeth Holmes in Theranos Civil Case | The Recorder
A federal judge overseeing civil litigation against blood-testing company Theranos has indicated he will let lawyers at Cooley who have been representing former CEO Elizabeth Holmes withdraw from the case. In a motion filed on Sept. 30, Cooley chairman Stephen Neal, Palo Alto partner-in-charge John Dwyer and associate Jeffrey Lombard asked to bow out of […]
Facebook executive David Marcus says Bitcoin is an investment, not currency
David Marcus, the head of Facebook’s cryptocurrency projects, on Wednesday said that Bitcoin is digital gold, but it’s not a good currency for transactions. “I don’t think of Bitcoin as a currency. It’s actually not a great medium of exchange because of it’s volatility,” Marcus said speaking at the New York Times DealBook Conference in […]
Quinn Emanuel Says Clients Can Pay in Bitcoin | The American Lawyer
Quinn Emanuel Urquhart & Sullivan said Tuesday that it has started accepting bitcoin and other cryptocurrencies, joining a handful of other firms that have acknowledged their openness to the fledgling payment method. The firm said it accepted its first cryptocurrency payment last week using BitPay, a Georgia-based bitcoin payment service. The firm did not name the client […]
China Gives Digital Currencies a Reprieve as Beijing Warms to Blockchain – The New York Times
Blockchain is back in Beijing’s good graces. Chinese officials have quietly removed the business of making Bitcoin and other cryptocurrencies from a list of hundreds of industries that Beijing plans to outlaw. In April, the practice appeared on a list of industries that would be denied benefits and subsidies from local governments, leading to worries […]
Crypto Under Attack: The Five Worst Hacks That Shook the Crypto World
Cryptocurrencies were first introduced in 2009 with the launch of Bitcoin (BTC), and since then, many other digital currencies — or altcoins — have also surfaced. Cryptocurrency is an asset that is available on a blockchain-based network and works as a medium of exchange. With their entire presence only existing online, cryptocurrencies are prone to […]
Delaware Supreme Court: What is a “Securities Claim”? | The D&O Diary
Most public company D&O insurance policies provide coverage for the corporate entity only for “Securities Claims.” But what constitutes a “Securities Claim”? That is the question the Delaware Supreme Court addressed in a recent appeal of an insurance coverage dispute in which a bankruptcy trustee had sued Verizon for breach of fiduciary duty, unlawful payment […]
Study: Single anonymous market manipulator pushed bitcoin to $20,000
A forensic study on bitcoin’s 2017 boom has found that nearly the entire rise of the digital currency at the time is attributable to “one large player,” although the market manipulator remains unidentified. Finance professors John Griffin and Amin Shams – instructors at University of Texas and the Ohio State University, respectively – analyzed over […]
Ex-Dealmaker for Uber Joins Fintech Startup Fundbox as Chief Legal Officer | Corporate Counsel
After Hamblet parted ways with Uber in August 2018, he spent the next five months “On the Beach (but looking!!),” according to his LinkedIn profile. He also did some work as a consultant for Uber and spent time with his family, he said Tuesday in an interview. “I was really just decompressing a bit,” he added. […]
Recent Cyber Attacks Target Asset Management Firms – Lexology
A recent flurry of cyber attacks on asset managers should remind asset management firms and other financial institutions that they are attractive targets for cyber-exploitation and need to remain vigilant and institute appropriate preventative controls and monitoring procedures, as well as post-attack action plans. Many companies still see cyber attacks as one-off, anomalous events. But […]