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Universal Injunctions’ Outsize Effects May Spur Justices to Act

Columnist David Lat explains the controversy behind universal injunctions and their impact on public policy and judicial power.

By David Lat

US Seeks Three-Year Prison Sentence for Ex-Binance CEO Zhao

The <-bsp-bb-link state="{"bbHref":"bbg://securities/4131761Z%20US%20Equity","_id":"0000018f-0f4f-d583-afbf-cfdf0a170000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">US Department of Justice recommended a 36-month prison sentence for <-bsp-person state="{"_id":"0000018f-0f4f-d583-afbf-cfdf0a170001","_type":"00000160-6f41-dae1-adf0-6ff519590003"}">Changpeng Zhao, the former chief executive officer of <-bsp-bb-link state="{"bbHref":"bbg://securities/1624796D%20CH%20Equity","_id":"0000018f-0f4f-d583-afbf-cfdf0a170002","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Binance, the world’s largest crypto exchange.

Temenos Names New CEO, Says Sales Hit by Short Seller Report

Temenos AG, the financial software company targeted by a short seller report earlier this year, announced its new chief executive officer after <-bsp-bb-link state="{"bbDocId":"S8YEZ8T0G1KW","_id":"0000018f-0ef6-d583-afbf-cefe319a0001","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">repeated activist calls to replace interim CEO <-bsp-person state="{"_id":"0000018f-0ef6-d583-afbf-cefe319a0002","_type":"00000160-6f41-dae1-adf0-6ff519590003"}">Andreas Andreades.

Hong Kong Crypto ETF Launches to Test Global Hub Ambitions

Hong Kong is set to follow in the footsteps of the US by listing a batch of <-bsp-bb-link state="{"bbHref":"bbg://screens/BI%20ETFSG","_id":"0000018f-0dcc-d583-afbf-cfdca43b0000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">cryptocurrency exchange-traded funds, providing a window on whether the city is making progress on fashioning a hub for digital assets.

Appaloosa Sues Credit Suisse Over $17 Billion AT1 Bond Wipeout

Hedge fund <-bsp-bb-link state="{"bbHref":"bbg://securities/1349929D%20US%20Equity","_id":"0000018f-0d6c-d583-afbf-cffc845f0000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Appaloosa LP became the latest to sue over the $17 billion wipeout of high-risk bonds last year that was part of the deal to save Credit Suisse Group AG from a full-scale collapse.

Agency Foe Supports Broker’s Defense in FINRA Federal Court Bout

Broker-dealer firm Southeast Investments, N.C. Inc. and its president have company in their Fourth Circuit case over FINRA sanctions against them, after a public interest group that often seeks to curb agency power filed a brief in support of the broker-dealer.

FTX to Auction Off More Solana This Week, Potential Bidders Say

The bankruptcy estate of the failed <-bsp-bb-link state="{"bbHref":"bbg://securities/1821506D%20US%20Equity","_id":"0000018f-0cb8-d583-afbf-cefc4a0d0000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">FTX cryptocurrency exchange plans to auction off another unspecified amount of <-rte-company state="{"_id":"0000018f-0cb8-d583-afbf-cefc4a0d0001","_type":"00000160-4b23-d8bd-adfd-4b3348fd0000"}">Solana tokens this week, according to people familiar with the sale.

Jack Dorsey’s Block Finishes Development of Bitcoin Mining Chip

Digital payments company Block Inc., formerly known as Square, has finished the development of its Bitcoin mining chip as Chief Executive Jack Dorsey continues to advocate for a more accessible and decentralized system — an effort he’s <-bsp-bb-link state="{"bbDocId":"S5B1TCDWRGG0","_id":"0000018f-0cf3-d583-afbf-ceff706d0002","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">championed since 2021.

Trump Set for Another $1.2 Billion in Shares He Can’t Sell

The blank-check deal that brought Donald Trump’s media startup public is set to give him another $1.2 billion in stock after meeting certain targets to his present windfall from the merger, yet he remains unable to cash any of it in.

Perelman’s Vericast Tussles With Lenders Over Debt Terms of Sale

Ronald Perelman’s <-bsp-bb-link state="{"bbHref":"bbg://securities/664088Z%20US%20Equity","_id":"0000018f-0ca3-d583-afbf-ceff19c70002","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Vericast Corp. is facing pushback from lenders over debt terms tied to plans to sell its digital and print marketing division to R.R. Donnelley & Sons Co., according to people with knowledge of the matter.